With our partners at AAA clubs, we modernized California products and launched competitive products in all other states. We launched our Usage Base Insurance (UBI)/Telematics program, which is now in 19 states, including DC, and represents 20 percent of new business. We launched a connected home pilot product, as well as a ridesharing endorsement in California.

We took several disparate systems and integrated them into streamlined policy and claims administration systems. Today, our policy administration and claims systems are modern, scalable, and operationally stable. And we now have a single phone system that connects all customers, clubs, and employees on one platform, ensuring seamless service during catastrophic events.

Our digital capabilities have expanded exponentially. Where before there was minimal data capability, we now have an industry-leading data and analytics platform that enables us to improve business performance and make data-driven decisions in almost real time.

We expect these efforts to enable us to achieve strong and profitable results moving forward. Since 2010 and together with AAA clubs, we have:

• Grown premium revenue from $2.7B to $3.5B (30 percent), exceeding the industry growth rate

• Reduced loss adjustment expense ratio and underwriting expense ratio.

• Improved customer satisfaction in Competitive NPS and all five JD Power surveys and maintained a strong capital base.

• Built an innovation function that enables us to innovate on our platform, and we are investing in continuous improvement for all employees.

We did quite a bit of heavy lifting— and we know that the work has just begun. We believe we have a competitive advantage, but how we leverage these capabilities to ensure that our company’s relevance 10, 20 and 30 years from now is the ongoing challenge that we will be ready to tackle.