OpenRoad Insurance, a managing general agency, has announced its entrance into the collector vehicle auto insurance market, starting with its first license in Texas. The company plans to expand its operations to other U.S. states later this summer.
National Interstate Insurance Company, a member of Great American Insurance Group, will provide the underwriting capacity for OpenRoad. Furthermore, Great American has made an equity investment in OpenRoad, which is capitalized by majority investor Griffin Highline Capital.
“Of the 40 million-plus collector vehicles in the United States, the majority are insured by standard auto insurance generalists,” said Richard Hutchinson, CEO of OpenRoad. “Our program is different as it was designed with specialized coverages and services tailored for the unique needs of auto enthusiast owners. We are proud to offer the auto-enthusiast community more choice, comprehensive coverage, and the fair pricing that they deserve.”
Hutchinson brings over three decades of experience in the insurance industry, including executive leadership roles at Progressive, Hagerty, and Forge. He served as president at Hagerty for nearly six years. OpenRoad has also recently hired two other former Hagerty employees. Scott Johansson has been named OpenRoad’s vice president of insurance operations. Johansson spent 18 years at Hagerty, most recently as senior regional product manager. Also, Bryan Ballatore, who spent seven years at Hagerty, is now OpenRoad’s chief revenue officer.
