This Tennessee agency takes
the time to build strong, lasting relationships
“We’ve focused on making the agency an attractive
place to work by maintaining an organization
where all employees are a valued, integral part of the team.”
—Chip Piper
Vice President
By Dennis H. Pillsbury
Powell & Meadows Insurance Agency, now in its 132nd year serving the community of Carthage, Tennessee, traces its roots back to 1894, when W. T. Askew began writing insurance policies for Home Insurance Company of New York. Over the years, the agency underwent several ownership transitions, ultimately assuming its current identity in 1962 when Mike Meadows joined Frank Powell as a partner. In 1965, Mike became the sole owner of the agency following Frank’s retirement.
On June 1, 1986, Phillip Piper joined the agency, bringing a combination of agency and underwriting experience to the firm. He had been working for an agency in Kingsport, Tennessee, but wanted to find an opportunity to return to his hometown. Prior to joining the Kingsport agency, Phillip had been an underwriter with USF&G.
and Chip Piper, Vice President
Recalling his early days with the agency, Phillip says, “I approached Mike about becoming a partner, and after a period of time I became a minority partner in 1992.” In 1998, Phillip purchased the agency and became agency principal. That same year, Mike retired from the industry.
“To ensure future success for the agency, I recognized the importance of building out our leadership team and finding a potential partner to help run the firm,” Phillip adds. “In 1999, Ray Edwards—an industry veteran with more than 20 years of insurance experience—joined the agency. He managed our Lebanon, Tennessee, office, and he did an impressive job. After about six years, he became a minority agency principal.”
Although the firm had experienced several ownership changes over the years, it remained primarily a personal lines agency prior to Phillip’s arrival, “writing about $2.3 million in premium out of the one office in Carthage,” Phillip recalls. “By comparison, we closed last year (2024) with more than
$65 million in premium—with 68% from commercial lines, 9% from life/health, and 23% personal lines.
“We now operate out of five offices, all in small towns in Tennessee,” he adds. “That’s one thing that has not changed. We started out as a small-town agency, focused on serving the community with small-town values of integrity and fairness, and we continue to honor those values in everything that we do.”
Persistency builds a niche
Early on, Phillip recognized the value of finding a market segment where one could develop expertise and build industry confidence in specific areas. “With time, word spread about our agency’s ability to handle the unique risks facing particular industries and the distinctive and personalized risk management approach we had developed,” he explains.
“For instance, in working closely with a natural gas utility at my previous agency, I gained experience and much knowledge about the natural gas community,” he recalls. “I took that knowledge and approached a local natural gas utility to convince them that we had a risk management program that would cater to their specific needs.
“We wrote that account in 1987 and still service it today. We started to focus on specialization well before ‘specialization’ became a buzzword in the industry,” Phillip adds. “What followed was a kind of chain effect, where more gas utilities heard about us and we started to write many additional accounts.”
“Our goal is to be seen by every client as a professional consultant who is working with their best interests in mind. There’s no real secret how we accomplish that: We simply work very hard to service clients and to establish relationships of mutual trust and caring … .”
—Phillip Piper
President
As business continued to expand, Phillip set his sights on a local electric cooperative to strengthen the agency’s growing presence in the utility sector. “I saw this as a natural fit for the niche we were building,” he explains. Over four years, he consistently engaged with the co-op, gaining a deep understanding of its operations and shaping an insurance program tailored to its unique risks.
“Securing that account became a cornerstone for many of our future successes,” he adds.
Looking back, Phillip emphasizes the value of persistence and building relationships. “Success doesn’t happen overnight,” he says. “Each visit helped me better understand their business and refine the solution we were offering. At the same time, they got to know me and came to see me as more than an agent—as someone they could rely on for risk management guidance.”
That foundation led to broader opportunities: “Water utilities followed,” Phillip notes. “We now write 41 of those.”
Strong support
Phillip readily admits that he “couldn’t have done any of this without the strong support of a very talented and committed staff. Each employee has brought to our table very specific, unique and tremendous talents. We are fortunate to have such an amazing team.
“Our agency manager, Sandra Maynard, joined Powell & Meadows before I did,” he adds. “She started in 1981, right out of high school, and has had a pivotal role in the organization’s long-standing success. Her talents, experiences and knowledge have proven to be an important asset to our family.”
Chip Piper, who joined the agency in 2009 and became a vice president in 2017, adds to the praise by stating that “we would not be here without Sandra. She deserves more credit than she will take.”
Phillip continues, “Pam Mason also deserves much recognition for our successful entry into the commercial insurance arena. Pam serves as the commercial lines account manager and claims administrator. She’s been with us 35 years and makes certain that claims are handled efficiently and effectively so that we can maintain the better-than-96% retention ratio that we enjoy.”
Staying independent
“We are committed to having a workable succession plan of offering ownership to the next generation because we want to remain independent,” Phillip explains. “I was very pleased that my son Chip decided to join the agency after graduating from the University of Tennessee. He’s really proven himself and his commitment to growing and improving Powell & Meadows.”
“We’ve increased our service staff, thanks to the continued growth provided by our niche success. We also are … using new technologies to enhance our staff capabilities as they talk with our customers and help them with insurance needs.”
—Chip Piper
“Because we are based in small communities, we must excel at writing and servicing personal lines and small commercial business efficiently,” he adds. “Essentially, we are a generalist with two important niches that have helped fuel our growth: utilities and contractors.
“We’ve increased our service staff, thanks to the continued growth provided by our niche success,” Chip says. “We also are focused on developing systems by using new technologies to enhance our staff capabilities as they talk with our customers and help them with insurance needs.
“We started out as a small-town agency, focused on serving the community with small-town values of integrity and fairness, and we continue to honor those values in everything that we do.”
-—Phillip Piper
“At the same time,” he explains, “we are focused on maintaining our position as the principal alternative to the direct writers that also target utility business. This really has been helped by the current hard market, because of our ability, as an independent agency, to have multiple carriers.
“This is really paying off,” Chip adds. “Over the last four or five years, utilities have been calling us because of our reputation.”
“We have many customers that we’ve had the privilege of serving for many years, and we want to continue those long-term relationships,” Phillip says. Our goal is to be seen by every client as a professional consultant who is working with their best interests in mind,” Phillip says.
“There’s no real secret how we accomplish that: We simply work very hard to service clients and to establish relationships of mutual trust and caring in every situation every day.
“Another important part of the success equation is our relationship with our carriers,” Phillip says. “We work very hard to be excellent partners with them, and that is reciprocated with the result that our clients are viewed favorably when they come up for renewal. Carriers also know that when we send them new business, we’ve checked to make sure that it fits with their marketing priorities.
“I don’t see us as extraordinary,” Phillip concludes. “We just work really hard, care about every one of our clients, and treat all of our employees with respect and dignity so that they feel positive when they interact with customers.”
Rough Notes is proud to recognize Powell & Meadows as our Agency of the Month. Their impressive numbers have led to their being recognized as a Best Practices agency five years in a row and we’re happy to add our accolades to that.
The author
Dennis Pillsbury is a Virginia-based insurance freelance writer.
