Tricolor appoints industry vet as CEO of new insurance unit
Tricolor Auto Group has named auto insurance vet Archie Gall as the chief executive of its newly launched insurance business, the company announced.
At the helm of Tricolor Insurance, Gall will be responsible for creating and expanding insurance offerings for “non-standard” carriers – that is, insurers that offer coverage to high-risk consumers. “I’m eager to become the best value provider in the market, providing transparency and eliminating unnecessary fees for deserving car owners,” Gall said in the release.
In fact, the non-standard auto insurance industry comprises about one-third of the $140 billion personal auto insurance market, the release noted, and agencies typically serving this segment often offset perceived risk by charging high origination fees. That often equates to customers with lower incomes or credit histories being charged as much as double for their insurance plans, Tricolor CEO Daniel Chu noted.
Tricolor pledges to eliminate these fees by leveraging its data-driven underwriting models. Currently available only to Tricolor customers in California and Texas, the company has plans to extend the coverage to all vehicle owners later next year.
Also read: Tricolor debuts insurance program
Gall has a 30-year track record of launching, growing and operating insurance agencies in Texas. Prior to joining Tricolor, he grew his Austin-based insurance business to more than 20 locations before it was acquired by a national non-standard auto insurance giant, Confie Seguros. “[Gall’s] experience creating and expanding insurance solutions for consumers will be vital to our commitment to transform the non-standard auto insurance industry on behalf of underserved customers,” Chu said.
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