We are thrilled to share the news that Arbella's Carpartment product is being honored in Best's Review magazine's annual Innovation Showcase. The Showcase is one of the top industry distinctions, and recognizes fewer than twenty companies worldwide for unique and creative solutions to industry challenges. Our product competed with offerings from some of the largest companies and carriers, and was selected for its fresh approach to the challenge of marketing to millennials.

As you know, Carpartment bundles auto and renter's insurance and acts as an insurance "starter package" for young adults. Research shows that only 30 percent of apartment dwellers have renter's insurance, because many are unaware that their landlord's policy will not cover their possessions in the event of a disaster.

In 2013, Arbella wrote over 3,100 new policies with the Carpartment product and 87% of those policies came with an auto policy. Carpartment made up 54% of Arbella's written HO-4 new business in 2013 with 82% of our agencies writing at least one Carpartment policy during the year. Also, HO-4 new business counts increased overall by 122% in Carpartment's first year!

Showcase judge Dianne Batistoni of EisnerAmper LLC praised Carpartment, saying: "It targets the often under- or un-insured millennial generation, creates awareness of an insurance need, offers a coverage to meet that need at a reasonable cost and markets it in a way that appeals to younger generations, especially via social media."

We are incredibly proud of this honor and wanted to share the exciting news with you.

Click here to read the article. If you would like to learn more about Carpartment, please visit arbella.com or contact your underwriter or territory manager.