The Hanover Insurance Group, Inc. (NYSE:THG) Q1 2024 Earnings Call Transcript

Richard Lavey: You hit it well. I mean this business is one where ease of doing business wins the day, and I know that’s an overused term, but that means all the elements of the operating model aligned from the people, the way you have them, the way you do new business, the way renewals are handled. And of course, the platform that you put on the agent’s desktop for them to submit and issue business. So as you know, we’ve made significant investments going back 3, 4 years on that. Our first product BOP is now completely rolled out, and we’re working hard to get more comp added to it. So other competitors haven’t frankly made those levels of investments. There are some that we compete well against day-to-day, but we’re absolutely thrilled with where this business is and looking into the future, now that the platform is nearing completion, we feel comfortable actually expanding distribution and finding other points of access.

Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Ms. Oksana Lukasheva for any closing remarks. Please go ahead.

Oksana Lukasheva: Thank you, everybody, for your interest and participation. We are looking forward to talking to you next quarter.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.