OpenRoad Insurance Launches Collector Vehicle Coverage
OpenRoad Insurance has entered the collector vehicle auto insurance market, starting with its first license in Texas. They plan to expand to other U.S. states later this summer.
National Interstate Insurance Company, part of Great American Insurance Group, will provide the underwriting for OpenRoad. Great American also invested in OpenRoad, with Griffin Highline Capital as the main investor.
Richard Hutchinson, CEO of OpenRoad, stated that most of the 40 million-plus collector vehicles in the United States are insured by standard auto insurance. OpenRoad’s program is different, offering specialized coverages and services for auto enthusiasts. They are aiming to provide more choices, comprehensive coverage, and fair pricing to the auto-enthusiast community.
Hutchinson has over 30 years of experience in the insurance industry, including leadership roles at Progressive, Hagerty, and Forge. He was president at Hagerty for nearly six years. OpenRoad has also hired two former Hagerty employees: Scott Johansson as vice president of insurance operations and Bryan Ballatore as chief revenue officer. Johansson spent 18 years at Hagerty, most recently as senior regional product manager. Ballatore was at Hagerty for seven years.
