{
  "id": 18033545,
  "title": "Hagerty: 3 Key Takeaways for Long-Term Investors",
  "url": "https://urgent.news/2026/11/03/hagerty-3-key-takeaways-for-long-term-investors",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-03T22:57:47.000Z",
  "source": {
    "name": "Motley Fool",
    "slug": "motley-fool",
    "url": "https://www.fool.com/earnings/takeaways/2026/11/03/hagerty-3-key-takeaways-for-long-term-investors/?source=iedfolrf0000001"
  },
  "original_language": "en",
  "account": "Hagerty, the specialty insurer focused on classic cars, reported stronger-than-expected financial results for the first nine months of 2026, leading to an upward revision of its full-year earnings guidance. The company added 402,000 new members while expanding its high-margin distribution partnerships and auction platform. According to McKeel Hagerty, the CEO and Chairman, Gen X, Millennials, and Gen Z account for over 60% of the company's quote volume, driving a demographic shift that expands the addressable market beyond traditional classic car collectors.\n\nHagerty's financial performance was bolstered by a 40% increase in its internal claims team, which helped reduce physical damage costs and liability claims below expectations. The company's specialty underwriting and proactive storm warnings also contribute to more stable loss ratios compared to standard auto insurers. McKeel Hagerty, in a conversation with Patrick McClymont, the CFO, noted that these investments in in-house claims capabilities are significantly contributing to lower losses.\n\nStrategic partnerships with major carriers like State Farm and a network of 54,000 independent agents play a crucial role in the company's growth strategy. The State Farm partnership, for instance, involves converting 525,000 existing classic-car policies to Hagerty-backed coverage. These B2B distribution efforts, complemented by the company's direct sales approach, are projected to support consistent high-growth rates. McClymont emphasized that the company's operational efficiency is strengthened through workflow automation and scaled distribution, which, along with maintaining pricing discipline, helps capture market share. The member service center, which now requires only one full-time employee for every 2,800 policies in force, has seen a 20% year-over-year productivity improvement.",
  "summary": "Hagerty's claims team grew 40%, and its member service staff now handles 2,800 policies per employee, a productivity gain that bears on long-term loss control.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Nasdaq Markets",
        "title": "Hagerty: 3 Key Takeaways for Long-Term Investors",
        "url": "https://urgent.news/2026/11/03/hagerty-3-key-takeaways-for-long-term-investors-18042151",
        "published": "2026-11-03T23:17:47.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}