21st Century Insurance
In 1958, Louis W. Foster started 21st Century Insurance in Los Angeles. Back then, it was classified as an inter-insurance exchange, which means that all the policyholders help to cover losses suffered by other policyholders. In 1966, the company decided to move to Century City where they celebrated their $1 million mark for one year alone. It was in the year 1968 that the company changed from exchange to capital stock, as mandated by the new government policies, and was considered one of the biggest events in the history of California. And in 1993, the company celebrated its $1 billion mark in policy writing.
Today, 21st Century Insurance is considered one of the leaders in the auto insurance industry. They are also known to focus on Spanish speaking communities with a 24/7 toll free hotline number service. Their website supports bilingual services as well. 21st Century Insurance has strategically expanded to Nevada, Oregon, and Washington State in 1998 with headquarters established in California and has put up several branches in many U.S. States.
In 2007, a challenging event took placed. 21st Century Insurance partnered with AIG Insurance, forming Aigdirect.com Company. Currently, this company is considered one of the top 10 insurance providers extending support and contact via direct mail, telephone, and the internet. With the combined forces, the company expanded their services and coverage tremendously. AIG, on the other hand, continues to promote its retirement services and management programs in the field of commercial and personal insurance policies.
21st Century Insurance has been providing insurance policies for 17 states with a working plan of amplifying their services to other major territories in the future. It is also worthy to note that about 90% of their policyholders were served as early as 2005.