Each of our customers is unique and has different needs when it comes to their personal automobile insurance. We offer a variety of flexible down payment and installment options and, unlike other companies, we offer our customers a range of custom automobile insurance products to fit their individual needs. Individuals looking for the most affordable option are best suited for our Low Cost product which provides state-mandated coverage at competitive rates. Our Value-Added product provides broader coverage and is designed for those who have a blemish or two on their driving record. Our Premier product best fits those individuals who have unblemished driving records.
Our fastest growing product over the last two years has been our Commercial Vehicle product. With a focus on the artisan business owner, we insure fleets of 12 vehicles or less. In 2009, we experienced growth of 25.3% compared to 2008 and see tremendous opportunity for growth in the future. And with the growth of Hispanic-owned businesses outpacing the national average, it’s a perfect fit within our target markets.
We believe in the philosophy that insurance companies must have scale to effectively compete. However, we don’t believe we must write in all 50 states to have scale. Our strategic focus of serving the urban, Hispanic and uninsured markets enables us to have scale in the areas we choose while supporting both our face-to-face claims philosophy and our low-cost operating structure. Our strategic market focus also allows for more efficient use of our advertising dollars. We are already the most recognized automobile insurance company within the Hispanic market in Los Angeles, Phoenix and Fresno. And we continue to build our brand in our other markets.
Key to our culture is the belief that we are in business to serve others. We are responsive to the needs of our customers and, with an active partner relationship, we are able to help our agents achieve their business goals. This culture of service to others also extends to our employees. We want to provide our people every opportunity to learn and grow within our organization. And in recognition of our commitment to providing our employees with a challenging and rewarding workplace, Infinity was once again named to the list of “Birmingham’s 10 Best Places to Work.”
We worked diligently in 2009 to settle the more than 260,000 claim features reported. Our claims adjusters and appraisers are well-trained and equipped with the latest technology allowing them to efficiently complete their evaluation and provide resolution to our policyholders and third-party claimants in a fast and fair manner. Created to make the settlement of common property damage accidents even more efficient, our First Notice of Loss Unit closed more than 60% of the claims handled by the unit within the first 10 days.