Safety Insurance Group
- Company typePublic
- Founded1979
- HeadquartersBoston, United States
- Headcount501–1,000
- GTM typeB2B and B2C
- OfferingServices
Safety Insurance Group firmographics
Firmographics- Name
- Safety Insurance Group
- Legal name
- Safety Insurance Group, Inc.
- Website
- http://www.safetyinsurance.com
- Company type
- Public
- Founded year
- 1979
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Ownership category
- akta.pro rank
Where Safety Insurance Group is headquartered
LocationHeadquarters
- HQ city
- Boston
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Safety Insurance Group business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Property and Casualty Insurance Premiums: Safety Insurance Group generates revenue primarily through underwriting property and casualty insurance policies including private passenger automobile, homeowners, commercial auto, and dwelling fire insurance lines. The company collects premiums from policyholders and earns investment income on float.
- Investment Income: Returns on the investment portfolio (float) generated from collected premiums held before claims are paid.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Monthly | Insurance policies are individually underwritten based on risk assessment |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels3 records
Safety Insurance Group product offering
Product offeringCore offering
Safety Insurance Group underwrites and sells property and casualty insurance policies in Massachusetts, including private passenger automobile, homeowners, commercial auto, and dwelling fire coverage. Policies are distributed through independent insurance agents and serviced through direct phone and website channels, with revenue generated from premiums and investment income on float.
Product overview
Safety Insurance Group is a property and casualty insurance provider operating as a single-platform insurer focused primarily on the Massachusetts market, trading under the ticker SAFT on NASDAQ. The company's product portfolio consists of four core insurance products: Private Passenger Automobile Insurance, Homeowners Insurance, Commercial Auto Insurance, and Dwelling Fire Insurance. These products serve individuals and businesses in Massachusetts, with the business model emphasizing underwriting discipline targeting combined ratios in the low 90s. The company maintains a defensive regional strategy with established market position and regulatory familiarity in its single-state operating environment.
Differentiator
Problem solved
Functional benefit
Products and services
- Private Passenger Automobile Insurance Private passenger automobile insurance coverage provided to individuals in Massachusetts, covering vehicle liability and physical damage protection.
- Homeowners Insurance Homeowners insurance coverage protecting Massachusetts residents against property damage, liability, and related risks for residential properties.
- Commercial Auto Insurance Commercial automobile insurance coverage for business vehicles and fleets operating in Massachusetts.
- Dwelling Fire Insurance Dwelling fire insurance coverage for residential properties in Massachusetts, covering fire damage and related perils for landlords and property owners.
Quantifiable outcome
- Combined ratio improved to 99.0% for 2025 from 101.1% in 2024
- +2 more outcomes
Companies that use Safety Insurance Group
Customer profileSegments5 records
Ideal customer profiles3 records
Safety Insurance Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability2 records
Feature1 record
Safety Insurance Group partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Dakota State UniversityminorResearchers at Dakota State University partnered with Safety Insurance to develop an experimental AI chatbot called 'Axlerod' built on Google Gemini 2.5 Pro to assist independent insurance agents with policy information retrieval tasks. Testing showed the chatbot reduced search time from 7.55 seconds to 5.13 seconds on average, translating to roughly $121 in annual labor savings per agent.
Scale indicators8 records
Recent moves7 records
Expansion highlights3 records
Safety Insurance Group competitors and assessment
Company assessmentBroad incumbents
- Progressive Corporation: National auto-insurance leader writing both personal and commercial auto across Massachusetts. Most directly comparable to Safety on private passenger auto underwriting metrics and competitive dynamics, even though Progressive operates at far larger scale and through a different direct-channel mix.
- Hanover Insurance Group: Massachusetts-headquartered national P&C insurer with strong New England presence across personal and commercial lines. Operates a broader multi-state book than Safety but shares the same regional heritage and competes directly in Massachusetts auto and home.
- Travelers Companies: Large national P&C incumbent writing personal auto, homeowners, and commercial lines across all U.S. states including Massachusetts. Provides broad-incumbent benchmark for combined ratio, expense ratio, and agent-channel economics against which Safety's regional performance can be measured.
- Liberty Mutual Insurance: One of the largest U.S. P&C writers with significant personal auto, homeowners, and commercial auto presence in Massachusetts. Comparable across core product lines even though Liberty Mutual operates nationally and across multiple lines.
Direct peers
- Plymouth Rock Assurance: New England-based mutual-style P&C insurer specializing in private passenger auto and homeowners insurance with deep Massachusetts presence. Same core product lines (auto and home) and same single-region focus make it the closest direct comparable to Safety Insurance.
- Arbella Insurance Group: Massachusetts-headquartered P&C insurer focused on personal auto and homeowners insurance. Overlaps directly with Safety's core private passenger auto and homeowners lines and competes for the same Massachusetts agent channel.
- Quincy Mutual Group: New England mutual P&C insurer (formerly Norfolk & Dedham) writing personal and commercial lines in Massachusetts and surrounding states. Direct overlap in auto, homeowners, and commercial auto with the same regional independent-agent distribution.
Regional players
- MAPFRE Insurance: Operates MAPFRE Commerce Insurance in Massachusetts as part of its U.S. footprint writing personal and commercial auto and home. Comparable regional-P&C scale and product set in the same Massachusetts market.
- Vermont Mutual Insurance Group: New England regional mutual P&C writer focused on personal lines (auto, home, dwelling fire) via independent agents. Highly comparable product mix and distribution, with adjacent rather than identical Massachusetts-centric geographic focus.
- Erie Indemnity Company: Mid-Atlantic-focused P&C insurer distributed almost exclusively through exclusive and independent agents. Strong analog for Safety's independent-agent P&C model with comparable size and product mix (personal auto, homeowners, commercial).
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks5 records
Key highlights6 records
Customer concentration
Safety Insurance Group social profiles
Digital presenceSafety Insurance Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
Safety Insurance Group leadership team
Management profileNumber of profiles
Profiles4 records
Safety Insurance Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Safety Insurance Group M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Safety Insurance Group
What does Safety Insurance Group do?
Safety Insurance Group underwrites and sells property and casualty insurance policies in Massachusetts, including private passenger automobile, homeowners, commercial auto, and dwelling fire coverage. Policies are distributed through independent insurance agents and serviced through direct phone and website channels, with revenue generated from premiums and investment income on float.
Is Safety Insurance Group a public or private company?
Safety Insurance Group is a public company. It is classified as public and is currently operating.
When was Safety Insurance Group founded?
Safety Insurance Group was founded in 1979. It employs 501 to 1,000 people.
Where is Safety Insurance Group based?
Safety Insurance Group is headquartered in Boston, United States, in the North America region.
How does Safety Insurance Group make money?
Two revenue lines are on record. Property and Casualty Insurance Premiums are the primary driver. The others are investment Income.
Who are Safety Insurance Group's main competitors?
Broad incumbents on record are Progressive Corporation, Hanover Insurance Group, Travelers Companies and Liberty Mutual Insurance. Direct peers are Plymouth Rock Assurance, Arbella Insurance Group and Quincy Mutual Group. Regional players are MAPFRE Insurance, Vermont Mutual Insurance Group and Erie Indemnity Company.
Does Safety Insurance Group have an API?
No public API is recorded for Safety Insurance Group.