O Hanover Insurance Group, Inc. (THG): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No cenário dinâmico do seguro, o Hanover Insurance Group, Inc. (THG) surge como uma potência estratégica, criando meticulosamente seu modelo de negócios para navegar no complexo terreno de gerenciamento de riscos e soluções centradas no cliente. Ao alavancar engenhosamente agentes independentes, tecnologia de ponta e ofertas abrangentes de seguros, o THG transformou os paradigmas de seguros tradicionais em uma estrutura sofisticada e adaptável que atende às necessidades diferenciadas de clientes pessoais e comerciais. Este modelo de negócios sobre a exploração de tela revela os intrincados mecanismos que impulsionam a vantagem competitiva da THG, revelando como as parcerias estratégicas, recursos inovadores e estratégias de distribuição de vários canais convergem para criar um ecossistema de seguro robusto e resiliente.

O Hanover Insurance Group, Inc. (THG) - Modelo de negócios: Parcerias -chave

Agentes de seguros independentes e corretores

A partir de 2024, o Hanover Insurance Group mantém uma rede de aproximadamente 5.000 agentes e corretores de seguros independentes nos Estados Unidos. Essas parcerias geram cerca de 80% da receita total do prêmio de seguro da empresa.

Métrica de Parceria	Valor
Agentes independentes totais	5,000
Receita premium de agentes	80%
Taxa média de comissão	10-15%

Empresas de resseguro para compartilhar riscos

O Hanover Insurance Group colabora com vários parceiros de resseguro para gerenciar a exposição ao risco. Os principais relacionamentos de resseguro incluem:

• Munique re
• Swiss Re
• Lloyd's of London
• Hannover re

Parceiro de resseguro	Capacidade de risco	Tipo de contrato
Munique re	US $ 500 milhões	Excesso de perda
Swiss Re	US $ 350 milhões	Tratado proporcional

Fornecedores de tecnologia para infraestrutura digital

O Hanover Insurance Group investe aproximadamente US $ 45 milhões anualmente em parcerias tecnológicas para aprimorar os recursos digitais.

• Microsoft Azure para infraestrutura em nuvem
• Software Guidewire para Sistemas Core de Seguros
• Salesforce para gerenciamento de relacionamento com clientes

Parceiro de tecnologia	Investimento anual	Serviço primário
Software Guidewire	US $ 15 milhões	Sistemas principais de seguro
Microsoft Azure	US $ 12 milhões	Infraestrutura em nuvem

Alianças estratégicas com redes automotivas e de reparo doméstico

O Hanover mantém parcerias estratégicas com aproximadamente 7.500 oficinas de reparos automotivos e 3.200 empreiteiros de reparo doméstico em todo o país.

Rede de reparo	Total Partners	Redução média de custo de reparo
Oficinas de reparo automotivo	7,500	12-15%
Contratados de reparo doméstico	3,200	10-13%

O Hanover Insurance Group, Inc. (THG) - Modelo de negócios: Atividades -chave

Subscrição de seguros de propriedade e vítimas

Em 2023, o Hanover Insurance Group registrou prêmios brutos por escrito de US $ 6,4 bilhões. As atividades de subscrição de seguros de propriedades e casuais da empresa focadas em:

• Seguro de linhas comerciais
• Seguro de linhas pessoais
• Segmentos de seguro especializado

Segmento de seguro	Prêmios brutos por escrito	Quota de mercado
Linhas comerciais	US $ 3,8 bilhões	2.5%
Linhas pessoais	US $ 2,6 bilhões	1.8%

Avaliação e gerenciamento de risco

O Hanover emprega tecnologias avançadas de avaliação de risco com US $ 68,3 milhões investidos em infraestrutura de gerenciamento de riscos. As principais estratégias de gerenciamento de riscos incluem:

• Modelagem preditiva
• Análise de dados
• Protocolos abrangentes de avaliação de risco

Processamento de reivindicações e atendimento ao cliente

Em 2023, a empresa processou 387.000 reivindicações com um tempo médio de resolução de 14,2 dias. As métricas de atendimento ao cliente incluíram:

Métrica	Desempenho
Taxa de resolução de reivindicações	98.6%
Pontuação de satisfação do cliente	4.7/5

Desenvolvimento de produtos e inovação

O Hanover alocado US $ 42,5 milhões para pesquisa e desenvolvimento de produtos em 2023, focando em:

• Produtos de seguro cibernético
• Soluções de seguro baseadas em telemática
• Pacotes de risco comercial personalizados

Transformação digital e integração tecnológica

O investimento em tecnologia totalizou US $ 95,2 milhões em 2023, com as principais iniciativas tecnológicas, incluindo:

• Processamento de reivindicações movidas a IA
• Aprimoramentos de aplicativos móveis
• Modernização da infraestrutura em nuvem

Área de investimento em tecnologia	Gastos
AI e aprendizado de máquina	US $ 35,6 milhões
Infraestrutura em nuvem	US $ 29,4 milhões
Segurança cibernética	US $ 30,2 milhões

O Hanover Insurance Group, Inc. (THG) - Modelo de negócios: Recursos -chave

Capital financeiro forte e reservas

A partir do quarto trimestre 2023, o Hanover Insurance Group informou:

Métrica financeira	Quantia
Total de ativos	US $ 19,4 bilhões
Equidade total dos acionistas	US $ 2,8 bilhões
Caixa e investimentos totais	US $ 16,3 bilhões

Equipes experientes de subscrição e gerenciamento de reivindicações

Estatísticas -chave do pessoal:

• Total de funcionários: 4.800
• Experiência média de subscrição: mais de 12 anos
• Profissionais de reivindicações: 850

Recursos avançados de análise de dados e modelagem de risco

Detalhes de investimento em tecnologia:

Categoria de investimento em tecnologia	Gastos anuais
Infraestrutura de análise de dados	US $ 45 milhões
Software de modelagem de risco	US $ 22 milhões
Ferramentas de modelagem preditivas	US $ 18 milhões

Tecnologia robusta e plataformas digitais

• Investimento de plataforma digital: US $ 62 milhões em 2023
• Infraestrutura de computação em nuvem: US $ 28 milhões
• Sistemas de segurança cibernética: US $ 17 milhões

Extenso banco de dados de clientes e insights de mercado

Métrica do banco de dados do cliente	Número
Total de clientes ativos	2,3 milhões
Clientes de seguros comerciais	85,000
Clientes de linhas pessoais	2,2 milhões

O Hanover Insurance Group, Inc. (THG) - Modelo de Negócios: Proposições de Valor

Cobertura de seguro abrangente

A partir de 2024, o Hanover Insurance Group oferece produtos de seguro em vários segmentos com a seguinte quebra:

Segmento de seguro	Volume premium anual	Quota de mercado
Linhas pessoais	US $ 2,1 bilhões	3.7%
Linhas comerciais	US $ 3,4 bilhões	4.2%
Linhas especializadas	US $ 1,2 bilhão	2.9%

Soluções de gerenciamento de risco personalizado

As ofertas de gerenciamento de riscos incluem:

• Avaliação de riscos da empresa
• Programas de seguro personalizados
• Estratégias de prevenção de perdas

Reivindicações de eficiência de processamento

Métricas de processamento de reivindicações para 2024:

• Reclamações médias Tempo de resolução: 7,2 dias
• Classificação de satisfação do cliente: 4.6/5
• Taxa de envio de reivindicações digitais: 82%

Preços e estabilidade financeira

Indicadores de desempenho financeiro:

Métrica financeira	2024 Valor
Receita total	US $ 6,8 bilhões
Resultado líquido	US $ 482 milhões
Proporção combinada	94.3%
SOU. Melhor classificação de força financeira	A (Excelente)

O Hanover Insurance Group, Inc. (THG) - Modelo de Negócios: Relacionamentos do Cliente

Interações de agentes pessoais

Em 2024, o Hanover Insurance Group mantém uma rede de aproximadamente 4.500 agentes de seguros independentes nos Estados Unidos. Esses agentes atendem a uma média de 2.300 contas diretas de clientes anualmente.

Métricas de interação do agente	Dados anuais
Agentes independentes totais	4,500
Contas médias de clientes por agente	2,300
Tempo médio de interação do cliente	37 minutos

Plataformas de autoatendimento digital

A plataforma digital da empresa suporta aproximadamente 1,2 milhão de contas de usuário on-line com uma taxa de engajamento de autoatendimento digital de 78%.

• Gerenciamento de políticas on -line
• Processamento de reivindicações digitais
• Serviços de aplicativos móveis

Suporte ao cliente 24 horas por dia, 7 dias por semana

O Hanover opera um centro de suporte ao cliente que lida com 3,6 milhões de interações com os clientes anualmente, com um tempo médio de resposta de 12 minutos.

Canal de suporte	Volume anual de interação
Suporte telefônico	2,1 milhões
Chat online	1,1 milhão
Suporte por e -mail	400,000

Conselhos personalizados de gerenciamento de riscos

O Grupo de Seguros fornece serviços de avaliação de risco personalizados para 85% dos clientes comerciais, com consultores dedicados de gerenciamento de riscos designados para contas superiores a US $ 500.000 em prêmio anual.

Programas de fidelidade e retenção de clientes

A taxa de retenção de clientes da Hanover é de 87%, com um programa de fidelidade cobrindo aproximadamente 62% dos clientes de seguros pessoais e comerciais.

Métricas de retenção de clientes	Percentagem
Taxa de retenção geral	87%
Cobertura do programa de fidelidade	62%
Taxa de renovação para clientes comerciais	92%

O Hanover Insurance Group, Inc. (THG) - Modelo de Negócios: Canais

Agentes de seguros independentes

A partir de 2023, o Hanover Insurance Group trabalha com Aproximadamente 5.000 agentes de seguros independentes nos Estados Unidos. Esses agentes representam 70% dos canais totais de distribuição de seguros da empresa.

Tipo de canal	Número de agentes	Cobertura de mercado
Agentes de seguros independentes	5,000	70% da distribuição

Plataforma de vendas on -line direta

A plataforma digital do Hanover processada US $ 412 milhões em prêmios online diretos em 2022, representando 15% do total de prêmios diretos por escrito.

• Plataforma online lançada em 2015
• Site responsivo para dispositivos móveis
• Geração de cotação em tempo real

Aplicativo móvel

O aplicativo móvel do Hanover, introduzido em 2019, tem Mais de 250.000 usuários ativos a partir de 2023.

Métrica de aplicativo	2023 dados
Usuários ativos	250,000
App Store Classificação	4.3/5

Call centers

A empresa opera 7 call centers regionais manuseio aproximadamente 1,2 milhão de interações do cliente anualmente.

Sites de comparação de terceiros

O Hanover faz parceria com 12 plataformas de comparação de seguros principais, gerando aproximadamente US $ 85 milhões em prêmios anuais através desses canais.

Site de comparação	Geração premium anual
Plataformas totais de terceiros	US $ 85 milhões
Número de plataformas	12

O Hanover Insurance Group, Inc. (THG) - Modelo de negócios: segmentos de clientes

Seguro de linhas pessoais

O Hannover Insurance Group atende aos clientes de linhas pessoais com o seguinte detalhamento do mercado:

Produto de seguro	Quota de mercado	Volume premium anual
Seguro automóvel	3.2%	US $ 1,2 bilhão
Seguro dos proprietários	2.8%	US $ 850 milhões
Seguro de guarda -chuva	1.5%	US $ 220 milhões

Seguro de linhas comerciais

Distribuição do cliente do segmento comercial:

• Pequenas empresas (1-50 funcionários): 62% do portfólio comercial
• Empresas médias (51-500 funcionários): 28% do portfólio comercial
• Grandes empresas (mais de 500 funcionários): 10% do portfólio comercial

Mercados de seguros especializados

Segmento especializado	Prêmios anuais	Penetração de mercado
Responsabilidade profissional	US $ 475 milhões	4.1%
Compensação dos trabalhadores	US $ 620 milhões	3.7%
Fuzileiro naval interior	US $ 290 milhões	2.9%

Segmento de consumidor individual

Redução demográfica individual do consumidor:

• Idade 25-44: 38% da base de clientes
• Idade 45-64: 42% da base de clientes
• Idade 65 ou mais: 20% da base de clientes

Proprietários de empresas de todas as indústrias

Setor da indústria	Porcentagem de clientes comerciais	Prêmio médio anual
Varejo	22%	$85,000
Fabricação	18%	$125,000
Construção	15%	$95,000
Serviços profissionais	12%	$65,000
Outras indústrias	33%	$75,000

O Hanover Insurance Group, Inc. (THG) - Modelo de negócios: estrutura de custos

Reivindicações de reivindicações e reservas de perdas

A partir de 2022 relatórios financeiros, o Hanover Insurance Group relatou reivindicações totais e despesas com perda de US $ 2,79 bilhões. As reservas de perdas foram documentadas em US $ 4,93 bilhões.

Categoria de custo	Valor (2022)
Propriedade & Reivindicações de vítimas	US $ 2,14 bilhões
Reivindicações de linhas comerciais	US $ 1,65 bilhão

Comissões de agentes e despesas de vendas

Despesas totais de comissão para 2022 foram US $ 465,3 milhões. As taxas de comissão do agente variaram pela linha de produtos:

• Linhas pessoais: taxa de comissão de 10 a 15%
• Linhas comerciais: taxa de comissão de 8 a 12%
• Total de despesas relacionadas às vendas: US $ 512,6 milhões

Investimentos de tecnologia e infraestrutura

Os gastos com tecnologia em 2022 alcançaram US $ 187,4 milhões, representando 3,2% do total de despesas operacionais.

Área de investimento em tecnologia	Gasto
Desenvolvimento da plataforma digital	US $ 62,1 milhões
Infraestrutura de segurança cibernética	US $ 41,3 milhões

Salários e benefícios dos funcionários

A compensação total dos funcionários para 2022 foi US $ 612,7 milhões.

• Salário médio de funcionários: US $ 89.400
• Alocação de benefícios: 22% da compensação total
• Força de trabalho total: 5.100 funcionários

Custos de marketing e aquisição de clientes

Despesas de marketing em 2022 totalizaram US $ 214,6 milhões.

Canal de marketing	Gastos
Marketing digital	US $ 87,3 milhões
Publicidade tradicional da mídia	US $ 63,9 milhões
Marketing direto	US $ 43,4 milhões

O Hanover Insurance Group, Inc. (THG) - Modelo de negócios: fluxos de receita

Linhas pessoais prêmios de seguro

Para o ano fiscal de 2022, o Hanover Insurance Group informou US $ 2,36 bilhões em prêmios de seguro de linhas pessoais.

Segmento de linhas pessoais	Receita (2022)
Seguro de automóvel	US $ 1,24 bilhão
Seguro dos proprietários	US $ 892 milhões
Outras linhas pessoais	US $ 224 milhões

Prêmios de seguro comercial

Os prêmios de seguro comercial para o Hanover Insurance Group totalizaram US $ 2,84 bilhões em 2022.

• Perigo múltiplo comercial: US $ 1,12 bilhão
• Compensação dos trabalhadores: US $ 642 milhões
• Auto comercial: US $ 518 milhões
• Outras linhas comerciais: US $ 558 milhões

Receita de investimento de reservas premium

Receita de investimento para o Hanover Insurance Group foi US $ 203 milhões em 2022.

Categoria de investimento	Renda (2022)
Títulos de maturidade fixa	US $ 156 milhões
Valores mobiliários	US $ 37 milhões
Outros investimentos	US $ 10 milhões

Taxas especializadas de produtos de seguro

Taxas especializadas de produtos de seguro geradas US $ 124 milhões em receita durante 2022.

Receitas de resseguro e transferência de risco

Receitas de resseguro para o Hanover Insurance Group representavam US $ 287 milhões em 2022.

Tipo de resseguro	Receita (2022)
Resseguro de propriedade	US $ 164 milhões
Resseguro de vítimas	US $ 93 milhões
Resseguro especializado	US $ 30 milhões

The Hanover Insurance Group, Inc. (THG) - Canvas Business Model: Value Propositions

You're looking at how The Hanover Insurance Group, Inc. delivers distinct value to its customers right now, late in 2025. It's all about focused execution in commercial lines.

Tailored P&C solutions for small-to-mid-sized businesses

The Hanover targets small and mid-sized businesses with specific, measurable growth in its core segments. This isn't just a general offering; it's targeted capacity deployment.

• Small commercial premium growth was 5.6% in the second quarter of 2025.
• Middle market premium growth reached 2.4% in the second quarter of 2025.
• Small commercial saw a 7.6% premium increase in the third quarter of 2025.
• Core Commercial renewal price increases averaged 10.7% in the second quarter of 2025.
• Core Commercial rate increases averaged 9.0% in the second quarter of 2025.

Here's the quick math on the Core Commercial segment's recent pricing discipline.

Metric (Q2 2025)	Small Commercial Growth	Middle Market Growth	Core Commercial Renewal Price Increase
Value	5.6%	2.4%	10.7%

Specialized coverage for niche sectors (e.g., Life Sciences, Marine)

The Specialty segment is a key value driver, showing strong underwriting results and targeted expansion into complex risks. This segment's combined ratio was 86.5% in the second quarter of 2025.

• The overall Specialty segment net written premium growth was 4.6% in the second quarter of 2025.
• The Hanover Insurance Group set a target of around 10% compound annual growth in Specialty written premiums over the next five years.
• In August 2025, coverage expanded to over 15 new classes of life sciences organizations.
• Projected Specialty growth for the second half of 2025 included E&S growing 22%, surety up 13%, and health care increasing 8%.
• Net favorable prior-year reserve development in Q1 2025 was led by marine and professional and executive lines business.

Account-oriented approach with multi-line policies (Hanover Fusion)

The account-oriented strategy centers on bundling coverages to simplify risk management for clients with complex exposures. This is where the unified policy structure comes into play.

• The Hanover Fusion product bundles multi-line liability coverage, specifically including products-completed operations, errors and omissions, and cyber liability, into a unified form.
• The company is offering tailored endorsements for life sciences clients, such as specialized property and general liability coverage.

Combining broad product offerings with local underwriting flexibility

The Hanover leverages its structure to offer both standardized products and the ability for underwriters to apply local judgment, especially in specialty lines where risk profiles vary widely.

• Specialty renewal price increases averaged 7.8% in the second quarter of 2025, with rate increases of 5.5%.
• In the third quarter of 2025, Specialty renewal price increases averaged 8.3%.

Streamlined digital quoting and issuance via TAP Sales for agents

Digital tools are a core value proposition for the distribution network, making it faster for agents to serve small commercial clients. This efficiency translates directly into better service delivery.

• The TAP Sales quote-and-issue platform reduces the time to generate a quote by nearly 50%.
• The TAP Sales platform allows agents to issue enhanced business owner policies.
• The platform also enables agents to quote and issue specialty lines of business online.

Finance: draft 13-week cash view by Friday.

The Hanover Insurance Group, Inc. (THG) - Canvas Business Model: Customer Relationships

You're looking at how The Hanover Insurance Group, Inc. (THG) maintains its connections with the market, which is heavily reliant on its distribution partners. The core relationship strategy centers on a selective, high-quality agency force.

High-touch, consultative service through independent agents

The Hanover Insurance Group, Inc. provides its exceptional insurance solutions through a select group of independent agents and brokers. The company operates with an estimated network of approximately 2,000 Independent Agents, supported by more than 4,000 employees, which allows for a balance between national resources and local attention. This structure supports a high-touch approach where agents act as trusted advisors.

• Reliance on a select group of independent agents.
• Focus on small and mid-sized businesses, homes, and personal items.
• Agent guidance is critical for risk mitigation advice.

Dedicated specialized underwriters for complex risks

Relationships extend into specialized underwriting capacity, particularly for commercial risks. The Specialty segment, which includes Property and Casualty, Professional, and Executive Lines, accounted for 23% of the business mix as of a May 2025 presentation. This indicates a dedicated relationship structure for clients requiring more nuanced risk assessment beyond standard offerings.

Digital self-service tools for agents and policyholders

While the model is agent-centric, digital enablement is a clear priority, mirroring the broader industry trend where 74% of insurers prioritized digital transformation and technology adoption in 2025. The need for agent consultation remains high, as evidenced by homeowner survey data where only 39% of homeowners aware of umbrella insurance had discussed it with their agent or company. For policyholders, the gap between awareness and action on digital tools is visible in specific coverages:

Coverage Type	Homeowner Awareness (2025 Survey)	Homeowner Coverage in Place (2025 Survey)
Cyber Insurance	46%	7%
Valuables Coverage	87%	26%
Recreational Vehicle Insurance	94%	31%

This data suggests that digital tools must effectively support agents in closing these advice and coverage gaps.

Long-term relationship focus with top-tier agents

The stability of the distribution channel is supported by strong financial footing, which builds agent confidence. The Hanover Insurance Group, Inc. maintained an 'A' Financial Strength Rating from A.M. Best and an 'A2' rating from Moody's as of year-end 2024, which is a key relationship anchor for partners. The company's focus on profitability, such as achieving an operating Return on Equity of 18.7% in Q2 2025, underpins its ability to invest in and maintain strong agent partnerships.

Investor relations transparency via regular financial events

Transparency with financial stakeholders is maintained through consistent reporting. For instance, Q3 2025 results showed a net income of $178.7 million, or $4.90 per diluted share, and operating income of $185.6 million, or $5.09 per diluted share. The company provided detailed quarterly highlights, including a Q3 2025 combined ratio of 91.1%, demonstrating a commitment to sharing operational performance metrics with investors.

• Reported Q3 2025 Net Income: $178.7 million.
• Reported Q3 2025 Operating Earnings Per Share: $5.09.
• Reported Q3 2025 Combined Ratio: 91.1%.
• Reported Q3 2025 Net Premiums Written increase: 4.5%.

Finance: draft 13-week cash view by Friday.

The Hanover Insurance Group, Inc. (THG) - Canvas Business Model: Channels

You're looking at how The Hanover Insurance Group, Inc. (THG) gets its products to the customer, and it's definitely still an agent-centric play, though heavily digitized for speed.

Independent Insurance Agents and Brokers (primary channel)

The Hanover Insurance Group, Inc. is clear about its foundation: it provides exceptional insurance solutions through a select group of independent agents and brokers. This is the core of their go-to-market advantage, especially as the market consolidates. The company is positioned to drive continued expansion by partnering with consolidators and appointing new agencies. As of early 2025, The Hanover Insurance Group, Inc. served approximately 2,100 to 2,125 agencies.

The overall business mix for 2024 showed Personal Lines at 41%, Core Commercial at 36%, and Specialty at 23% of Net Written Premium (NWP). The company's strategy reinforces this focus, aiming to deepen agency relationships and leverage market insights. For Core Commercial, retention remains high, reported at 84.4% in the third quarter of 2025, underscoring the stickiness of the business placed through these partners.

The Agency Place (TAP) Sales digital quoting platform

The Agency Place (TAP) Sales is positioned as The Hanover Insurance Group, Inc.'s industry-leading online quoting and issuance platform for agents. This platform is a key enabler of their strategy to be the best partner for winning agents. Management has stated that their ease of doing business, including the TAP Sales platform, is 'as good as the best in the industry.'

Digital enhancements are continuously rolled out to this channel. For instance, in July 2025, The Hanover Insurance Group, Inc. launched Workers' Comp Advantage on the platform. This addition allows agents to deliver a bindable Workers' Comp quote in less than two minutes, achieving up to 90% straight-through processing across many target small commercial classes. The platform supports a suite of coverages, including Business Owner's Policy, marine, and professional/management liability products.

Here's a look at the capabilities this digital channel offers agents:

Platform Feature	Metric/Detail	Segment/Context
Workers' Comp Quote Speed	Less than two minutes to deliver a bindable quote	Small Commercial (July 2025 launch)
Straight-Through Processing (STP)	Up to 90% for target classes	Workers' Comp Advantage on TAP Sales
Core Commercial Retention	84.4%	Q3 2025
Core Commercial Rate Increase	Averaged 10.7% (including 9.0% rate increase)	Q2 2025
Specialty Renewal Price Increase	Averaged 7.8% (including 5.5% rate increase)	Q2 2025

Direct digital interfaces for policy servicing

The commitment to digital extends beyond quoting to servicing, which is crucial for customer and agent retention. The Hanover Insurance Group, Inc. has invested in expanding self-service capabilities for customers. This is designed to help agents grow by solidifying their value proposition through better service delivery.

The digital servicing tools allow for:

• Policy details access via My Hanover Policy portal.
• Bill payment options available online.
• Claims reporting capabilities.
• E-delivery of policy documents and bills for agents and customers.

Wholly owned subsidiary for international business (Chaucer Holdings Limited)

The Hanover Insurance Group, Inc. completed the sale of its Chaucer-related companies, which comprised its Lloyd's international specialty business, to China Reinsurance (Group) Corporation. The final entities were sold in 2019 for total proceeds of $41 million, wrapping up a transaction that initially valued the sale at approximately $950 million. Following this divestiture, the company's focus is now on its proven and distinctive domestic business.

Company website and mobile applications

The company website, hanover.com, serves as a central hub for various stakeholders. For customers, the Hanover mobile app, alongside the My Hanover Policy portal, provides direct digital interfaces for policy servicing. The overall strategy involves leveraging technology to enhance customer service. Furthermore, the company actively uses its platform to educate the market, as evidenced by commissioning The Hanover's 2025 Homeowners Coverage Awareness Report.

The company's Q3 2025 revenue reached $1.67 billion, with Net Premiums Earned at $1.55 billion for the quarter, reflecting the strength of its core domestic property and casualty operations channeled through its network.

The Hanover Insurance Group, Inc. (THG) - Canvas Business Model: Customer Segments

You're looking at who The Hanover Insurance Group, Inc. (THG) serves directly, which is really the foundation of their premium volume and underwriting strategy. They focus heavily on distinct commercial niches alongside a solid personal lines base.

The Small-to-mid-sized businesses (SME) segment is a cornerstone, representing a stated 62% of their commercial portfolio. This focus is executed primarily through the Core Commercial segment, which targets small commercial and middle market accounts. For instance, in the second quarter of 2025, the small commercial business within Core Commercial showed growth of 5.6% in net premiums written, while the middle market grew by 2.4% in that same period. Renewal price increases averaged 10.7% for Core Commercial in Q2 2025. The COO noted that efforts are being made to scale the company by leveraging transformation work, which directly supports serving these smaller, more targeted accounts.

For individuals seeking personal lines coverage-think home, auto, and personal items-this forms the largest single premium block based on recent results. The Personal Lines segment is a major revenue driver. In the third quarter of 2025, net premiums written for Personal Lines reached $739.4 million. The segment saw strong pricing discipline, with renewal price increases averaging 10.5% in Q3 2025, and average rate increases of 6.8%.

The Specialty commercial clients group is where The Hanover Insurance Group, Inc. (THG) deploys its more niche underwriting expertise. This segment is organized into specific divisions. You see clear focus areas here:

• Professional and Executive Lines
• Marine
• Specialty Property & Casualty
• Surety

In the second quarter of 2025, the Specialty segment generated net premiums written of $355.9 million. Specialty renewal price increases averaged 7.8% in Q2 2025, with average rate increases of 5.5%. The segment delivered operating income before income taxes of $71.2 million in Q2 2025.

The focus on specialized, complex risks is evident in their dedicated leadership appointments. For example, The Hanover Insurance Group, Inc. (THG) appointed a president for its technology and life sciences business in the summer of 2025, signaling a deeper commitment to early-stage and smaller Life Sciences organizations needing tailored risk solutions. This specialized approach naturally extends to businesses with complex industrial property risks, which fall under the Specialty umbrella, where underwriting sophistication is key to managing higher severity potential.

Here's a quick look at the premium volume across the main reporting segments for the second quarter of 2025, showing the relative scale of these customer groups:

Segment	Operating Revenues: Premiums (in millions)	Net Premiums Written (Q2 2025, in millions)
Personal Lines	$635.1	$679.6 (Q3 2025)
Core Commercial	$554.3	$536.0 (Q2 2025)
Specialty	$355.9	$368.2 (Q2 2025)

The total operating revenue from premiums for these three segments in Q2 2025 was $1,545.3 million. The company is definitely leaning into areas where they can differentiate their underwriting, like the lower middle market, where pricing can remain more resilient, according to the CFO in August 2025. Finance: draft 13-week cash view by Friday.

The Hanover Insurance Group, Inc. (THG) - Canvas Business Model: Cost Structure

You're looking at the core outflows for The Hanover Insurance Group, Inc. (THG) to keep the engine running and the policies priced. This cost structure is heavily weighted toward claims and the distribution network, which is typical for a property and casualty carrier.

The single largest component, by far, is the cost associated with future claims payments. This isn't just what they pay out this quarter; it's the estimate for claims that have already happened but haven't been settled yet. You need to keep a close eye on these liability figures.

• Loss and Loss Adjustment Expense (LAE) reserves: $7.61 billion as of Q1 2025.

Next up is getting the product sold. The Hanover Insurance Group, Inc. relies on its independent agent network, and compensating them is a major, variable cost tied directly to premium volume. This is a key area where efficiency gains can drop straight to the bottom line.

• Agent commissions: average 10-15% of premium.

When you write a new policy or renew an existing one, you incur costs to acquire that business-things like marketing, underwriting salaries, and agent bonuses. These costs are capitalized and then systematically expensed over the life of the policy. This is the Amortization of Deferred Acquisition Costs (DAC).

Here's a quick look at how that amortization has trended across the first three quarters of 2025, based on reported figures:

Reporting Period	Amortization of Deferred Acquisition Costs (in millions)
Q1 2025	$452.7 million
Q2 2025	$319.0 million
Q3 2025	$187.8 million

The day-to-day running of the business-the operational side of underwriting and handling claims-is captured in the expense ratio. For the third quarter of 2025, the expense ratio was reported at 31.3%. This ratio is a direct measure of how efficiently The Hanover Insurance Group, Inc. manages its overhead relative to the premiums it earns. It includes salaries, rent, systems maintenance, and other general administrative costs.

The commitment to modernizing operations is clear, especially given the industry-wide focus on efficiency. The strategic spend here is aimed at reducing the LAE ratio through better data and faster processing, which is a long-term cost control lever. You'll want to track this specific investment category closely.

• Investments in technology and AI: approx. $45 million annually in tech partnerships.

To be fair, the actual operating expenses for underwriting and claims processing are embedded within the combined ratio components. If you look at the Q3 2025 results, the total cost structure components we can directly map are:

• Loss and LAE Ratio: 59.8% (Q3 2025)
• Expense Ratio (Underwriting/Operating): 31.3% (Q3 2025)
• Total Combined Ratio: 91.1% (Q3 2025)

Finance: draft the 13-week cash flow view incorporating the Q4 2025 projected DAC amortization by Friday.

The Hanover Insurance Group, Inc. (THG) - Canvas Business Model: Revenue Streams

You're looking at how The Hanover Insurance Group, Inc. (THG) actually brings in the cash to keep the lights on and pay out claims. Honestly, for an insurer, it boils down to two main buckets: the money you collect from policies before you pay losses, and the money your investment pile earns you. It's a classic P&C (Property & Casualty) model, but the execution on the underwriting side is what matters most right now.

The core of the revenue generation comes from Net Written Premiums (NWP), which reflects the total premium volume written across your three main operational segments. For the second quarter of 2025, the total NWP hit about $1.58 billion.

Here's the quick math on how that premium volume broke down by segment in Q2 2025:

Revenue Stream Component	Q2 2025 Amount (Millions USD)	Q2 2025 Growth (YoY)
Personal Lines Net Premiums Written	$679.6	3.7%
Core Commercial Net Premiums Written	$536.0	4.4%
Specialty Net Premiums Written	$368.2	4.6%
Total Net Premiums Written (Approximate)	$1,583.8	4.1%

Management is projecting that this premium engine will keep accelerating, with guidance pointing toward net written premium growth in the 6-7% range for the second half of 2025. That's a key indicator of market penetration and pricing power you'll want to track.

The second major stream is Net Investment Income from the investment portfolio. This is the return generated from holding the 'float'-the money held between premium collection and claim payout. For the second quarter of 2025, this income was reported at $105.5 million. To be fair, that number is sensitive to the prevailing rate environment, but it's a solid, predictable component when underwriting is disciplined.

You also pick up smaller amounts from fees and other income, which are less central but still part of the total top line. Based on Q2 2025 segment reporting, you can see some of these ancillary streams:

• Core Commercial Other income: $1.3 million
• Specialty Other income: $1.1 million
• Personal Lines Other income: $3.7 million

Finance: draft 13-week cash view by Friday.