| February
Weatherby-Eisenrich Agency Lloyd Eisenrich, on the cover |
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| The Weatherby-Eisenrich Agency, operating in a west Texas town of 12,000 people, serves about 2,000 individuals and families and 500 businesses. Since current owner Lloyd Eisenrich joined the firm in 1983, premium volume has grown from $1.3 million to more than $5 million. About two-thirds of the agency's business comes from oil and gas interests; schools, hospitals and other commercial establishments make up the remainder. The business philosophy that works in this small town market is to be "an everything agency to everybody," Eisenrich says. Despite concentrating all of its marketing efforts within its county, the agency still has two of its largest accounts outside the county--in Fort Worth and Houston. Undeterred by the threat of competition from banks or Internet marketing, Eisenrich says, "People don't want to pay their insurance dollars to a non-personalized entity."
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| March
Robert F. Driver Co. Agency principals on the cover |
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| Robert F. Driver Company derives about 65% of its $28 million in annual revenues from program business. Some $7 million of that revenue comes from public entities and hospitals, making the agency the largest independent agency writer of public entity business in California. CEO Tom Corbett says the best way to provide valued added services on program business is for the agency to develop the program itself. "When we control the program, it's transferable ... The value added doesn't disappear when the insurance company wants out." In 1975 the agency was writing $11 million in annual premiums; today they are at $300 million with 215 employees. One key to future growth, Corbett believes, will be setting up alliances with like-minded agencies in other parts of the country. "It really is time for agencies to stop seeing each other as competitors and start looking to each other for opportunities." Cast your Ballot |
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| April
Redland & Associates Gary Hurley on the cover |
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| Redland & Associates, which was started 52 years ago as a property-casualty agency, diversified into employee benefits and human resources consulting during the '90s. Today it employs 150 people and derives $3.7 million in revenues from property-casualty operations. Its total revenues are $11.7 million. The diversification strategy "was always the result of client needs," explains Gary Hurley, agency president. "Our commercial clients needed employee benefits and, once we started working with them in that area, we began hearing about their human resources problems ... so we set up the consulting group." Redland also has emphasized extra services to its commercial P-C clients, establishing loss control and claims management departments. The agency also set up a third-party administrator to handle a workers comp program for manufacturers and plans to expand the program to other coverages. The agency's retention rate on commercial business is around 95% and is just slightly lower for personal lines. Cast your Ballot |
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| May
Wiseman Agency, Inc. Agency's executive committee on the cover |
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| Wiseman Agency, Inc., founded by the current president's grandfather in 1928, is still managed by four members of his family. Operating in a town of 5,000 people, the agency has grown from $1.3 million of premium in 1980 to $8 million today. It operates as a generalist, writing a lot of BOP-type business, but one very different account that has been with the agency since its incorporation is Bob Evans Farms, which has operations in 28 states. Writing commercial business ($5 million of its total book) during a prolonged soft market presents challenges in a small town, particularly when workers compensation in Ohio is handled by a monopolistic state fund. The agency has turned increasingly to fee-based income, currently 25% to 30% of their total revenue. They perform risk management and loss control services and analyses for insureds to determine if self-insurance is a viable option. Cast your Ballot |
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| June
Ebert-Helling-Nortman & Associates, Inc. (EHN) Chuck Helling, John Borden and Jim Nortman on the cover |
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| EHN is well diversified, with its $10 million in premium divided among a variety of commercial coverages (55% of its book), personal lines (38%) and life-health (7%). They supplement their generalist approach by zeroing in on a few commercial niches including food processors, restaurants and related businesses, a program for the National Association of Wholesalers and one for nonfranchised auto dealers. Both in personal lines and commercial lines the agency cross sells and solidifies accounts by sharing knowledge among its personnel. Sometimes this means pulling current accounts and allowing producers, account managers and CSRs to ask questions about coverages provided and not provided. In personal lines, "we prepare proposals, not just quotes," says Personal Lines Manager John Borden. In commercial lines, "we don't want to be just another bidder," says Chuck Helling, agency president. So before approaching a commercial prospect they must be able to answer "yes" to two key questions: 1) Do we know the decision maker? and 2) Have we identified a problem? Cast your Ballot |
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| July
Armfield, Harrison & Thomas Agency executives on the cover |
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| About 10 years ago Armfield, Harrison & Thomas (AH&T) began focusing on three niche markets, not at the direction of their insurance companies, but because of their own expertise and clients' needs. The niches are technology businesses, not-for-profit firms and construction accounts. The agency has technology clients in 47 states and 38 countries, and it communicates with these and other technology firms via its own Web site. AH&T also has conducted seminars for technology clients featuring nationally known speakers. Providing directors and officers coverage for the initial public offerings of technology firms has been instrumental in their growth in D&O. Watson Wyatt Worldwide recently ranked AH&T ninth among the top 20 D&O brokers (in number of accounts). The agency has an ESOP, which, according to Howard Armfield, agency president, has been "a great empowerment tool for all of our employees" ... as well as "an important strategic asset for the company as it seeks acquisition candidates for more growth. Cast your Ballot |
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| August
Cheney Insurance Agency Dennis Hilton on the cover |
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| Cheney Insurance Agency is located in a town of 4,000 people and a trading area of 15,000 people. To increase its business--which is currently 58% personal lines, 32% commercial and 10% financial services--the agency maintains an aggressive program of communication with customers and prospects. Four times a year it contacts about 450 businesses or individuals, including those to whom the agency refers business. A quarter of the flyers used for this purpose are distributed by hand--a task shared by all the agency employees. "We also send out customer satisfaction cards weekly to new policyholders, lost policyholders, to insureds who just had a claim closed and to other claimants who are not insureds," says Dennis Hilton, operations manager. The agency also allows community organizations to use its conference room for meetings, and has a home page on the Internet. Cast your Ballot |
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| September
Gateway Insurance Agency Mike Weinberg and John Arden with client on the cover |
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| Gateway Insurance Agency, a 30-employee firmwith $4.1 million in annual commission income features an aggressive sales stance and "the Ritz Carlton" approach of spending extra time and attention on clients. The agency buys leads for selected industries and mails more than 100,000 pieces of direct mail per year. But when contacts are made to prospects via telemarketing or direct mail, the agency does not seek the x-date. "We're not looking to compete based on price, so the x-date really doesn't matter," explains David Stanton, agency president, adding that they also are looking for whole accounts, not one line of business from a client. Gateway provides coverage for mail order companies operating in every state as well as some large chains of car dealers and a chain of retail stores operating nationwide. Internally, the agency stresses building a team spirit. Every quarter, salaries are adjusted depending on how well the agency has done. "We never want any of our employees to have the attitude, 'It's not my job,'" says Mike Weinberg, the agency's executive vice president. Cast your Ballot |
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| October
Specht Insurance Group, Ltd. Pamela S. Specht on the cover |
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| Pamela Specht joined her family's Philadelphia area insurance agency, Specht Insurance Group, Ltd., in 1979 when it was writing $325,000 in premiums, mostly homeowners business written as an accommodation to the family's affiliated real estate agency. Under her direction the insurance agency bought a rival agency and over an 18-year period has built a diversified client base that currently produces $5.5 million in annual premiums. The agency has concentrated its commercial lines marketing in several niches: construction, day care, municipalities, motorcycle and recreational vehicle dealerships, equine mortality, restaurants and delis. For one client, a national franchiser of early childhood education and care centers, the agency is the agency of record for 49 of 50 franchisees. For The Maryland Insurance Group's Home Builder's program, utilized by more than 4,000 agencies, Specht Insurance ranks 22nd among them in total premiums. Cast your Ballot |
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| November
Brown-Hiller-Clark & Associates Agency executives on the cover |
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| Agency perpetuation is a key focus for Brown-Hiller-Clark & Associates (B-H-C) where three partners in their 50s have turned over large amounts of the agency's sales effort to three younger producers. The partners handle management of the agency, provide sales support to the younger producers and introduce these producers to management gradually. The result: The agency's client base has been broadened away from its traditional focus on contractor accounts; and "Insurance companies are knocking on our doors because they know we have a perpetuation plan," says Sam Hiller, agency president. Current premiums are $14 million, and the agency maintains another office in Sallisaw, Oklahoma. Their company and client relationships were tested by a tornado in April 1996 that left the agency with 163 claims totaling $12.5 million. "We didn't lose one client," says Hiller. "We actually picked up new clients because we settled so quickly and word got around." Cast your Ballot |
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| December
Community Insurance Center, Inc. Milton Moses on the cover |
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| Milton Moses of Community Insurance Center began his insurance career as a debit life agent, selling in the neighborhoods on Chicago's south side. Today his agency writes property/casualty (60% commercial lines) and life/health and has 17 full-time employees. But Moses has never strayed from his orientation toward "neighborhood marketing." Writing minimum premium BOPs may not provide a lot of immediate income, he points out, but owners of small businesses have many other insurance needs, and they also refer the agency to owners of larger businesses. After operating for 13 years in basement offices, Moses relocated his firm in the mid-70s; but rather than move downtown as many other firms were doing, he stayed on the south side, thrusting his neighborhood roots even deeper. Moses has given back to the industry, serving as chairman of the IIAA's Urban Opportunities and Minority Agents Committee and as chairman of the Insurance Vocational Education Student Training (INVEST) Committee of the Kennedy-King City College of Chicago. Cast your Ballot |
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