Hagerty has been commemorating a major milestone throughout 2024: its 40th anniversary. What started as a small insurance company for wooden boats has evolved into a multifaceted automotive ecosystem that is dedicated to preserving the collectible car industry’s rich culture and heritage.
Thanks to Trish Robinson, VP of Enterprise Procurement, Travel Services and Third-Party Risk Management at Hagerty, the company is introducing a range of leading procurement initiatives to set it apart from the competition.
The road most travelled
Hagerty was founded in 1984 by Frank and Louise Hagerty in Traverse City, Michigan, with the purpose of selling insurance policies for wooden boats. But it wasn't long before Hagerty recognised the growing demand for specialised insurance and services catering to the collector car community.
Today, Hagerty insures over 2.5 million vehicles and has become a major player in automotive media, events and data services. As the company proudly states, "Hagerty is all about the love of cars.”
A new highway
In 2021, Hagerty took a significant step by becoming a publicly traded company on the New York Stock Exchange with the ticker HGTY. The company sees a long runway ahead for growth and the broader recognition that enthusiasts enjoy many aspects of car collecting and car culture -- a hobby that Hagerty could help car lovers navigate in a friendly, efficient and easy way.
While insurance remains a core element of Hagerty's business, the company has strategically diversified into other areas that cater to the needs and interests of car enthusiasts. One such venture was the acquisition of Broad Arrow Auctions, which allows Hagerty to leverage its trusted expertise and reputation in the classic car market.
In addition to auctions, Hagerty has also established itself as a major player in automotive media. Hagerty Drivers Club Magazine is the most widely distributed automotive publication in the U.S., reaching a vast audience of car lovers.
Quad is Hagerty’s preferred strategic print partner, working out of Sussex, Wisconsin. Across six issues every year, Quad prints and mails more than 875,000 high-quality Hagerty Driver’s Club magazines to its members. That’s 5,250,000 magazines annually – and the number keeps on growing.
Hagerty’s media presence extends beyond print, with a robust digital footprint that includes a popular YouTube channel with more than 3.3 million subscribers. Hagerty's diverse media offerings allow it to engage with car enthusiasts across multiple platforms, further solidifying its role as a leading voice in the industry.
One of Hagerty's key strengths is its deep expertise in the classic and collector car market. The company's Hagerty Valuation Tools provide comprehensive pricing data for at least 40,000 vehicles, spanning the pre-war era to modern classics. This wealth of information has made Hagerty a trusted partner for both enthusiasts and industry professionals, helping owners, shoppers and enthusiasts make informed decisions in buying/insuring their cars.
Elsewhere, the company partners with nine of the top 10 insurance companies in the U.S. These partnerships are a testament to Hagerty's reputation as the go-to authority on classic car claims and risk management.
This combination of data, industry knowledge and strategic partnerships positions Hagerty as an indispensable resource for car enthusiasts and the broader automotive industry.
Driving procurement excellence
Hagerty's commitment to excellence is exemplified by the remarkable achievements of its procurement team. Trish leads what she calls a brilliant team of five FTEs: Michelle Payne, Senior Sourcing Manager; Brendan Doyle, Sourcing Manager; Chris McKeever, Sourcing Manager; Lynn Doherty, Procurement Specialist; and Shawn Burnside, Senior Travel Specialist, with another FTE due to start in early 2025. Over a relatively short period, her team has implemented robust strategic sourcing and contract negotiation processes, delivered significant cost savings and established innovative programmes to engage diverse suppliers.
"I also created and implemented an enterprise-wide strategic sourcing and contract negotiations process that is required to be followed under the company's Delegation of Authority Policy," says Trish, who outlines her team's accomplishments since she came into the role in 2023.
The procurement team has set clear goals and objectives in the areas of cost savings, contract management and stakeholder satisfaction. To support these efforts, team members have developed a comprehensive procurement intranet site that provides guidance and resources for the entire organisation.
"I created goals and objectives of what procurement will deliver: team training and development, cost savings, contracts and sourcing KPIs, stakeholder satisfaction and supplier diversity," Trish adds.
Her team is on track to help Hagerty save over $10 million in 2024.
Trish continues: "This is a combination of the procurement team leading sourcing events and contract negotiations, as well as providing our stakeholders with tools and guidance to manage some of their own sourcing and contracting where they can. I am thrilled with the results and the amazing cross-functional partnerships my team has with business stakeholders – finance, legal, risk and IT."
Accelerating procurement’s positive impact
Hagerty's procurement team is poised to build on the aforementioned success.
The company plans to implement a strategic sourcing module and a third-party risk management platform to further optimise its vendor relationships and mitigate risks.
"In 2025, we plan to implement a third-party strategic sourcing module which will function as our one-stop-shop for the procurement intake portal, sourcing and auctions, supplier forms, contract management and cost savings tracking pipeline," Trish says.
"It's simply all about putting the right procurement talent together, with the right level of focus, direction and discipline to achieve great results. Plus, ensuring that the work is fun."
By prioritising compliance and ethical practices, Hagerty demonstrates its dedication to its customers, investors and stakeholders. This focus not only enhances the company's reputation but also strengthens its long-term sustainability and competitiveness.
Fostering a positive culture
Underpinning Hagerty's impressive growth is a corporate culture that emphasises positivity, passion and employee well-being.
According to Trish, this culture has been instrumental in driving the company's success and enabling its procurement team to achieve remarkable results.
"Everything we do begins with optimism,” Trish notes. “Starting with optimism is an important philosophy to me and always has been. That is Hagerty. It is positive and energetic, passionate about cars and focused on employee wellbeing."
This commitment to fostering a positive work environment extends beyond the walls of Hagerty's offices. The company's Drivers Club provides members with exclusive experiences and benefits, further strengthening a sense of community and shared enthusiasm for the automotive world.
"Having the opportunity to work with like-minded people, while enjoying perks like remote work options, automotive experiences and a strong sense of community both within the company and out, makes this a dream job for me," Trish adds.
By cultivating a culture that celebrates the love of cars and the well-being of employees, Hagerty has created an environment where innovation, collaboration and a relentless pursuit of excellence can thrive.
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