Hagerty Investor Deck
Spring 2024
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Saving Driving and Fueling Car Culture for Future Generations
To meet that challenge, we are building an ecosystem of high value-added products, services and entertainment for car lovers that honors and catalyzes the passion for cars and driving.
McKEEL HAGERTY
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Hagerty: The leading brand for auto enthusiasts
to protect, buy, sell and enjoy their special cars
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Hagerty - Delivering Sustained Profitable Growth
The trusted brand in specialty insurance
2023 KPIs
$1000M | 41.5% |
Total Revenue | Loss Ratio |
+27%
$907M | 2.4M | |
Written Premium | Vehicles Insured | |
+17% | ||
$88M | 89% | |
Retention | ||
82 | ||
Adjusted EBITDA | ||
+$90M YOY | Net Promoter Score | |
Protect, Buy and Sell, Enjoy
Insurance
Marketplace
Membership
Media/Events
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67mm Auto Enthusiasts Create a Long Runway For Growth
Just ~5% share of the U.S. collectible car market today
Age groups & demographics
Global Car Enthusiasts1
>500mm
U.S. Car Enthusiasts | Late teens / 20s | 30s | 40s |
67mm | |||
U.S. Collectible Cars2 | 50s | 60s | 70s & beyond |
46mm
Hagerty Insured Vehicles3 | High net worth | Hobbyists | Industry |
2.4mm | individuals | at home | professionals |
Source: Hagerty company reports based on aggregated data of various sources;
- Per Facebook analytics, members who have expressed an interest in or 'Liked" automobiles or associated interests
- Per Hagerty company reports based on aggregate data of various sources.
3 Policies in force of 1.3mm as of March 31, 2023 | 4 |
Post 1980 vehicles becoming more impactful for growth
Significant opportunity given <2% penetration today
Collectible vehicles by cohort
Type | ||
Hagerty Penetration & US Auto Insured Vehicle Count | ~13% | Pre-1981 |
1,600,000 | ||
Classics | ||
1,400,000 | ||
1,200,000 | ||
1,000,000 | Post 1980 | |
Collectibles | ||
800,000 |
600,000 | ~2% |
400,000 | Total |
200,000
-
Jan-12 | Jan-13 | Jan-14 | Jan-15 | Jan-16 | Jan-17 | Jan-18 | Jan-19 | Jan-20 | Jan-21 | Jan-22 | Jan-23 |
Total Market | Hagerty |
(cars, mm) | Penetration |
11.213.3%
35.21.7%
~46.34.5%
Post-1980 Vehicle Count | Pre-1981 Vehicle Count | |
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The Hagerty Affinity Ecosystem
More than just a great specialty insurance business
01 | 02 | 03 | 04 | 05 |
Large and | High growth | Membership, Marketplace | Proven and | Investing in sustained |
underpenetrated | auto enthusiast | and Media ecosystem | resilient | revenue growth and |
market opportunity | insurance | for car lovers | financial profile | margin expansion |
Tapping underserved | Established platform to | Exceptional brand loyalty | Track record of | Reinvesting to |
passion-led automotive | drive scale and leverage | with multiple points | revenue and | scale the |
enthusiast market | data advantage | of monetization | profit growth | Hagerty ecosystem |
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Engaging Through a Shared Love and Passion for Cars
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Hagerty's Auto Enthusiast Model Maximizes Lifetime Value
Weaving together an ecosystem of offerings for consumers
The Auto Enthusiast spends >$10K/year
Enjoyment + social
Insurance
Guaranteed value policies
Restoration
Body, mechanicals, engine
Connection and Community
Auto club, storage, events, shows
Fun
Swag, media, gaming
Status
Prestige, recognition
Illustrative Economic Value with 90% retention
10 Year Life
The Daily Driver
Focus on mobility
Insurance
Gas
Car lease
Parking
Maintenance
Illustrative Economic Value
2-3 Year Life
Reader Survey 2020; Based on internal records | 8 |
Unparalleled Specialty Insurance for Auto Enthusiasts
Data driven value proposition and unparalleled customer service for auto enthusiasts
Guaranteed value
Compared to stated value with appreciation in car values equaling coverage
Greater savings*
On average 34% lower than a stated value policy
Greater specificity, protection and customer service
Reflecting Hagerty's data advantage
Added value services for car lovers
Roadside service, expert repair network, parts finder specialists and more
* Based upon 2021 consumer data collected by Hagerty on single car quotes, with premiums $5000 and under, from daily driver auto insurance carriers."
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Disclaimer
Hagerty Inc. published this content on 12 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 March 2024 15:05:30 UTC.