Overview
Trexis Insurance, based in Franklin, Tennessee, was established in 1997 and is a subsidiary of Alfa Insurance. The company provides non-standard and mid-market personal auto insurance through a network of independent agents in Alabama, Arkansas, Georgia, Indiana, Kentucky, Missouri, Ohio, Tennessee, Texas, and Virginia. It has an A (Excellent) rating from A.M. Best, which affirms its financial stability and dedication to offering reliable insurance solutions.
Company Operations and Performance
Trexis offers diverse auto insurance options with prompt, equitable claims processing available 24/7. It prioritizes partnering with independent agents and utilizes advanced technology to optimize customer service and policy management. A strategic initiative using Duck Creek's SaaS solutions highlights its commitment to modernizing its operations, particularly in the non-standard personal auto insurance sector.
Financial Insights
Trexis boasts significant financial stability, marked by robust capitalizations, such as a notable dividend payment of $5,500,000. The company's estimated annual revenue is $48.6 million, reflecting stable operational capabilities with a revenue per employee of approximately $242,000 and an employee count of 201, showing a 6% growth over the past year.
Customer Experience and Feedback
Trexis provides a mobile app designed to improve customer service, though it faces challenges in user satisfaction. The app has a 3.2 rating on Google Play from 211 reviews and a 2.1 rating on the App Store from 31 reviews, indicating potential areas for enhancement in user experience.
Leadership and Key Personnel
- James Parnell - CEO and Chairman, directing Trexis's strategic vision.
- George Kademenos, SPHR, SHRM-SCP - Director of Human Resources, aligns HR strategies with company goals.
- Aaron Cummins, MBA - Supervisor of IT Infrastructure Services, manages crucial technology operations.
- Michael Walters - VP Operations.
- Teresa Winters - Director of Application Development.
- Laura Hanrahan - Director of Underwriting.
- Jon Carney - Director of IT Infrastructure.
- Josh Nelms - Senior Product Manager.
Operational Locations
Trexis operates from its headquarters in Franklin, Tennessee, and maintains a branch office in Phoenix, Arizona, supporting its extensive network across the servicing states.
Market Position and Strategic Insights
Aligned with Alfa Insurance, Trexis benefits from its parent's mission to provide comprehensive and affordable insurance solutions. It sustains its competitive edge through financial stability, strategic technological enhancements, and a focused expansion strategy.
Competitor Analysis
1. Prime Health Services
- Revenue: $44.9 million
- Employees: 190
- Specializes in preferred provider networks in sectors like workers' compensation and auto liability.
2. Benefit Communications, Inc.
- Revenue: $38 million
- Employees: 157
- Focused on benefit enrollments and communication solutions for large organizations.
3. Pappas Family Life Insurance
- Revenue: $0.8 million
- Employees: 7
- Provides life insurance solutions with a nationwide focus.
4. First Acceptance Insurance
- Revenue: $36.3 million
- Employees: 150
- Known for customer relationships and trusted auto insurance solutions.
5. RSS Insurance
- Revenue: $13.1 million
- Employees: 66
- Offers a comprehensive range of personal and commercial insurance with a Southeast regional focus.
Trexis's use of technology to improve operations and service, alongside its expanding product and geographical reach, underlines its strong market position. The company's consistent employee growth and excellent financial ratings further reinforce its capacity for continued market success and strategic expansion.
Challenges and Opportunities
The mixed feedback on its digital platforms suggests a clear opportunity for Trexis to refine its user interfaces and customer interactions. By enhancing these experiences and closing service gaps, Trexis can strengthen its market position and improve customer satisfaction.
