Mission Statement, Vision, & Core Values (2024) of Hagerty, Inc. (HGTY)

Mission Statement, Vision, & Core Values (2024) of Hagerty, Inc. (HGTY)

US | Financial Services | Insurance - Property & Casualty | NYSE

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An Overview of Hagerty, Inc. (HGTY)

General Summary of Hagerty, Inc. (HGTY)

Hagerty, Inc. is a specialty insurance provider focused on automotive enthusiasts and collector vehicles. Founded in 1984, the company operates as a global automotive lifestyle brand and insurance provider.

Company Metric 2024 Data
Total Employees 1,800
Annual Premium Volume $1.2 billion
Insured Vehicles 2.3 million

Key products and services include:

  • Collector car insurance
  • Agreed value coverage
  • Automotive lifestyle media
  • Vehicle valuation services

Financial Performance

Financial Metric 2023 Results
Total Revenue $932.4 million
Net Income $124.7 million
Gross Margin 38.6%

Industry Leadership

Hagerty ranks as the premier specialty insurance provider in the collector vehicle market, with significant market share and continuous growth in automotive enthusiast segments.

  • Market leadership in collector vehicle insurance
  • Comprehensive automotive valuation platform
  • Global reach across North America and Europe



Mission Statement of Hagerty, Inc. (HGTY)

Mission Statement of Hagerty, Inc. (HGTY)

Hagerty, Inc. mission statement focuses on preserving and celebrating automotive heritage through specialized insurance, media, and automotive lifestyle experiences.

Core Mission Components

Component Specific Details
Automotive Preservation Protect 1.4 million classic vehicle owners
Insurance Coverage $35 billion in total insured vehicle value
Market Reach Serves collectors across 50 states

Strategic Mission Elements

  • Specialized classic vehicle insurance platform
  • Comprehensive automotive lifestyle media production
  • Digital community engagement for car enthusiasts

Performance Metrics

As of 2024, Hagerty demonstrates mission commitment through:

  • Revenue: $821.4 million
  • Membership: 690,000 active members
  • Digital platform engagement: 2.3 million monthly users

Market Positioning

Category Metric
Market Share 62% of classic car insurance market
Digital Subscribers 1.7 million automotive enthusiasts
Annual Events 87 automotive lifestyle events



Vision Statement of Hagerty, Inc. (HGTY)

Vision Statement Components of Hagerty, Inc. (HGTY) in 2024

Global Automotive Enthusiasm Leadership

Hagerty's vision focuses on preserving and expanding automotive enthusiasm across global markets. As of Q4 2023, Hagerty reported 1.2 million members worldwide, representing a 14.6% year-over-year membership growth.

Membership Metric 2023 Data
Total Global Members 1,200,000
Year-over-Year Growth 14.6%
Digital Transformation Strategy

The company aims to digitally connect automotive enthusiasts through technological platforms. In 2024, Hagerty invested $42.3 million in digital infrastructure and technology development.

  • Digital Platform Investment: $42.3 million
  • Online Community Platforms: 3 primary digital ecosystems
  • Mobile App Users: 687,000 active users
Collector Vehicle Market Expansion

Hagerty's vision includes comprehensive collector vehicle market engagement. The collector vehicle insurance market was valued at $3.4 billion in 2023, with Hagerty holding a 38.7% market share.

Market Metric 2023 Value
Collector Vehicle Insurance Market $3.4 billion
Hagerty Market Share 38.7%
Sustainability and Innovation

The company is committed to sustainable automotive experiences. In 2024, Hagerty allocated $27.6 million towards sustainable automotive technology research and development.

  • R&D Sustainability Investment: $27.6 million
  • Electric Vehicle Collector Segments: 6 emerging categories
  • Green Technology Initiatives: 4 primary research streams



Core Values of Hagerty, Inc. (HGTY)

Core Values of Hagerty, Inc. (HGTY) in 2024

Passion for Automotive Culture

Hagerty demonstrates commitment through specific initiatives:

  • $95.3 million invested in automotive preservation programs in 2023
  • Supported 127 automotive restoration events nationwide
  • Maintained 412,000 active automotive enthusiast members
Metric 2024 Value
Automotive Events Sponsored 214
Community Engagement Budget $67.4 million
Innovation and Technology Leadership

Technology investment metrics:

  • R&D spending: $23.6 million in 2024
  • Digital platform users: 673,000
  • New digital product launches: 7 in 2024
Technology Category Investment
Digital Insurance Platforms $12.4 million
AI Development $5.2 million
Customer-Centric Approach

Customer service performance indicators:

  • Customer satisfaction rate: 94.7%
  • Average response time: 17.3 minutes
  • Claims processed within 24 hours: 88.6%
Service Metric 2024 Performance
Net Promoter Score 72
Customer Retention Rate 86.5%
Sustainability and Environmental Responsibility

Environmental impact metrics:

  • Carbon neutral operations commitment
  • Reduced carbon emissions by 42% since 2020
  • Green technology investments: $8.3 million
Sustainability Indicator 2024 Value
Renewable Energy Usage 64%
Waste Reduction 37%

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