THE CHANGING FACE OF THE INDEPENDENT AGENT
Robyn Holt succeeds as both a
producer and agency co-owner
By Elaine Tolen
Robyn Holt, a co-owner of and producer at Western Valley Insurance in Crescent City, California, has been an independent agent for 10 years.
When Robyn Holt began working in the Crescent City, California, agency of Fraser, Yamor, Jacob and Young (FYJY) in March 1993, she says, "I thought I'd work there for a few months and be gone." Not only did she remain in the insurance business, but now--10 years later--she's a successful producer and an agency owner, working through a unique partnership.
Robyn's exposure to the insurance industry began at birth, she jokes, since her father worked in the industry. "But I never pictured myself in an insurance career. I have three brothers and would expect one of them to be more likely to do that," she says. In fact, taking the job at FYJY--where her father was controller--was just a way to earn a paycheck, in the beginning.
"My husband, Jim, was going to attend the police academy College of the Redwoods in Eureka, California--which was the top academy in the state--at that time so we moved to Crescent City in March of 1993," Robyn explains. She took a receptionist job at FYJY to help support the family. Crescent City is a town of about 15,000 in the heart of the redwoods on the beautiful Northern California coast.
As time went on, "it just bit me" and insurance became an exciting career option, Robyn says. "You know how when you're young and you think you know everything? I realized that [in the insurance industry] I didn't know everything, and I don't like not knowing something! I began to see how you can actually help others and still make a living. We get to protect things that people work so hard to obtain. I found that exciting. Plus, the insurance industry is never stagnant. You're always learning, and there's no predicting what might happen next."
In 1994, Robyn earned her P&C license and her life/health license the next year. She began moving up the agency ladder, to administrative assistant to the president, CSR for commercial lines manager of personal lines--and finally manager of the agency by the year 1995.
Unfortunately, Robyn's father didn't get to see the growth of her insurance career, as he suddenly passed away in late 1993. However, Dick Jacob, FYJY principal and close friend of Robyn's family, filled in as a father figure. Robyn says that he and George Yamor, another FYJY principal, were and still remain her mentors. "They are both true leaders and of the highest integrity. They taught me how to focus on what was important--the client."
After such a thorough on-the-job education at FYJY, in 2000 Robyn was ready for new industry challenges. Following a stint at another agency, she became interested in Western Valley Insurance Associates, Inc., based about 12 hours away in Turlock, California, and which had recently opened an agency in Crescent City.
In the fall of 2001, Robyn met with Western Valley's principals during one of their frequent visits to Crescent City. "I was so impressed with their integrity. They didn't make offers or seek information about their competitors, which some agencies will do when courting new producers. Instead, we shared our philosophies about the insurance business. We are all 'cards on the table' type of people," Robyn says.
A partnership
That meeting led to a unique arrangement in which Robyn and two other producers became co-owners of the Western Valley agency in Crescent City. While Western Valley corporate retains the majority of the Crescent City agency, the three producer-owners also own a share.
According to Robyn, the physical distance between the Crescent City agency and the corporate--480 miles and a nine-hour drive--was one basis for Western Valley principals to offer ownership instead of Robyn and the others just being producers. "As owners, we operate more autonomously and don't have to depend on the corporate for day-to-day operations. As owners, we also have more at stake in that we have a financial interest in the agency as a whole," she explains.
Besides the increased responsibility that being an owner brings, Robyn points out that there is greater legal liability. She says that in California, agency owners are held more accountable to the Department of Insurance. Office management; hiring and firing; and other responsibilities lie squarely on the owners' shoulders.
But the benefits of ownership also provide greater future opportunity, Robin says. "Down the road, we could choose to purchase the entire Crescent City agency or merge the agency into the corporation."
"It is such a fantastic partnership," Robyn says. "Even though we operate independently, we stay connected to the home office and principals. The principals come to Crescent City several times a year and make a point of supporting our community by participating in local activities."
The co-owners of Western Valley's Crescent City agency (from left): Christine Graves, Robyn Holt and Steve Hendricks.
Robyn describes another plus to being associated with a larger agency. "Typically, small agencies have a hard time serving the community, but we're able to offer the broader markets and products like a large agency. The Crescent City office benefits by having support from the main office in areas such as accounting, data processing, contingency tracking, advertising, human resources and marketing.
"Young producers--especially females--don't always have opportunities to own their own businesses," she continues. "This is the best of both worlds: Western Valley gets a well-run, profitable agency, and we get the benefits of ownership."
Robyn credits Western Valley's principals, especially Gary Lindhares and John Adams, with the outlook that led to this partnership. "Gary and the other principals think outside the box," she says. "I think this type of arrangement will 'catch on,' and as it does, you will see higher [producer] retention as well as improved service to clients. As I said, there is more burden on our shoulders, but greater opportunity as well."
While ownership can be an important element to attracting and retaining producers, Robyn emphasizes that not all successful producers make good principals. "It takes a certain type of producer who has the stamina necessary for ownership. Most producers think it's all about the sale and are thinking of their commission dollars. Even when they own their book of business, producers are typically self-focused," she explains.
"Being a principal means looking at the big picture. You have to be able to focus on service to clients, not just commission dollars. You have to understand why procedures are in place and understand the important role of other agency employees, like CSRs." Since Robyn has served in nearly every agency position, she speaks from experience when she says she understands the uniqueness of each job.
In her role as a producer at Western Valley, Robyn specializes in commercial P&C and group benefits.
Personal development
Many successful young agents--with demanding careers and family commitments---somehow seem to make time for community volunteer work, and Robyn is no exception. On the board of directors of the Crescent City Rotary Club, Robyn has coordinated a variety of projects and fund-raising efforts. She is active in the Chamber of Commerce, and is the capital campaign chairperson for Harrington House, a shelter for abused women. According to Robyn, the community must raise $100,000 of the $1.5 million needed for the shelter's new facility. Through the Chamber, she is also community fund-raising chairman for Del Norte County's Boy Scout troops. Robyn's volunteer work extends to the preschool that her three-and-a-half-year-old daughter, Emily, attends. She often helps in the classroom.
Family is a priority to Robyn, and she says her family's support has made it possible for her to put in the time and energy necessary for building an agency and being a producer. As a police officer, her husband, Jim, works three 12-hour shifts, which allows him to spend several days a week at home with Emily. "On the days that Jim is at home, if I need to go to the office early, I can leave before Emily is awake, knowing she will be with Daddy," Robyn explains. "My mother lives with us, too, and she is a big help."
Balancing family and career life is a constant challenge, and Robyn values the time that she can spend with her husband, Jim, and daughter, Emily.
Many of Robyn's community and job-related meetings take place during the day, which allows for more time with family in the evenings. Having a structured home life is very important, according to Robyn. "We don't watch TV," she explains, "there's just no time for that. After dinner, there's time to play with Emily for a while, and at 7:30, it's time to get ready for bed. She's in bed by 8:00 p.m. So, I know if I need to do some extra work at home, I will have time for it."
Robyn is able to blend family with outside commitments by taking Emily with her to some of her local daytime meetings, and Jim and Emily sometimes travel with Robyn to conferences.
Career development
Robyn says that being involved in insurance associations, increasing her insurance education, and reading trade publications has been key to her success in the industry.
She reads a variety of trade publications to keep up with the industry, and she also closely follows California legislation and is fairly active politically. "Almost every new law affects my clients in some way, so I must stay informed and even act as an advocate, to serve my clients effectively."
Currently, Robyn is working on her CIC designation. Because the CIC program is five years long and requires travel to sessions, some agencies don't want their producers to be gone for long and don't encourage professional development. According to Robyn, Western Valley has been very supportive of her educational pursuits.
In 2000, she became active in the Insurance Brokers and Agents of the West (IBA West), the professional trade organization that serves California and several western states. This year marks Robyn's third term on the IBA West's young brokers and agents committee.
"A lot of people think that they should wait to get involved in a professional organization until after their business is built. Actually, you build your business more quickly by being involved," Robyn asserts. "You become more educated about industry companies and carriers. The networking is invaluable. I don't know all the answers, but because of all the great young agents I've gotten to know, I know where to go to get the answers."
"Time away at conferences is time well spent," she continues. "You learn ways to meet clients' needs better by learning about new products, new laws, trends. And you come back motivated to apply what you've learned to help your clients.
"Make the time work for you," Robyn advises. "Go to the educational sessions, hospitality suites, lunches--where you will meet company people and other agents and learn so much."
It's clear that Robyn Holt makes each day's "time" work for her--whether she's working in the community, growing professionally, or wearing the hats of producer and owner. *