The Benelli Motorcycle Insurance business is known for its aggressive marketing and aggressive sales tactics, but the company also has a humble history in the industry.
It was founded by two brothers in 1966, John and Paul Benelli, and their brother John was the company’s first employee.
But the brothers had an interest in motorcycle technology and eventually, in 1974, they began to explore the idea of an insurance company that offered motorcycles and bikes as a service, to individuals.
“We were interested in motorcycle safety and safety and how that could be integrated into the overall business,” said John Benelli.
“And so, we decided that we could create a company that could provide motorcycles and other transportation as a means of transportation and that’s how we came up with the name of Benelli.”
That’s how the company was born.
“The name Benelli was inspired by the word Benelli,” said Paul Benucci.
“That was the original name of the company, Benelli & Associates.”
Paul Benici had been working in marketing when the company came up and realized that they had an opportunity.
“I just thought, ‘What’s the name Benucci going to be?’
So I started looking around and came across the Benelli name, which was really, really cool,” said Benelli with a laugh.
“But I also wanted to have a name that would be a little bit more aspirational and that would actually resonate with the public.”
The company launched their website and quickly garnered some interest.
“They got so many requests for motorcycles that we just had to build our own website,” said David Benelli of the website.
“It was really just an eye-opener for us and really helped us to understand what we could do with the website and what we were looking for.
And we really were very excited to do that.”
Benelli’s website launched in 1976, but he never actually used the site to sell insurance.
The company was not only the first motorcycle insurance in the U.S. to offer bikes and motorcycles as a form of transportation, it also offered a service to its customers.
“So the first three years were really the first years we really made a profit, because we had an average of about $3.7 million per year,” said Adam Benelli during an interview with the company.
Benelli quickly developed a relationship with his customer base and quickly saw an opportunity in selling insurance through a website.
After all, he had already built up a reputation for his aggressive sales strategies.
“When you go online, you can get to the front page, and people will pay attention,” said Benjaminelli.
But Benelli also quickly realized that his customers were not going to necessarily be paying for the services that he offered them.
“At first we had some customers who were very unhappy, but they ended up doing more and more,” said Dan Benelli in an interview.
“As the years went on, they were going to say, ‘Oh, yeah, this is really good, but I’ve got a problem.’
And so, I really thought that the business was going to take off.”
Benolini was able to take a gamble on his customers.
His company offered a premium motorcycle policy and a service that allowed people to get reimbursed when their vehicle was stolen.
But by the end of his first year, Benici realized that the company wasn’t delivering on the promises made.
“You know, we were doing a lot of the things that the government wanted us to do, but it just wasn’t working,” said Dave Benelli after Benelli retired in 2012.
“One of the big problems with the business is, they really don’t have the budget for the things they really need to do.”
Benetti started to think about what he could do differently.
“Our first three employees were very ambitious, and we had to work hard to get to that point, and so that was one of the major things that we really tried to change,” said Josh Benelli who was then a senior vice president.
“Once we had the budget, we thought that we would really try to be more proactive in the way we did things, because ultimately, we would be better off as a company.”
Benisi knew that his business could not continue to grow unless it was able in some way to help its customers get their money back from their stolen motorcycles.
That’s where Benelli and his brother Paul Benisi came up, with the idea to offer a motorcycle insurance policy that offered the same level of protection as the other insurance options that were available to the public.
“There was no guarantee that the money that was paid would ever be returned,” said Bob Benelli as he reminisced about Benelli years ago.
“If the insurance company had paid all of our insurance claims in full, it was a huge guarantee that it would never get the money back.
And so the idea was