Turning the page of insurance: Hyperlocal Personal Lines

Aug 10, 2023 • 3-Minute Read • Alex Tuff

The U.S. independent insurance industry market dynamics:

·      Over 300,000 agents

·      40,000 agencies

·      $350 Bn Personal Lines and $300 Bn Commercial Lines Premiums

·      Average age is 59

·      Significant number of agencies are entrenched in traditional practices

·      Minorities are underrepresented 2:1

·      Women are still significantly underrepresented in leadership positions

The industry’s perception of being “boring” has largely been the driver in creating a massive generational gap in brokers. However, our forward-looking insurance brokerage, Evertree, is turning the page for the next generation by acquiring local agencies in NFL cities that are leaning into, and experimenting with, new technology. Additionally, we have begun incorporating streamlined best practices into our customer service best practices and paving the way for a customer-led placement experience backed by a trusted human advisor.

Our mission is to humanize the benefits of technology within the insurance industry, fostering more meaningful interactions with clients while enabling organic growth. By turning the page of insurance interactions to hyperlocal communities in which we live and serve, we aim to revolutionize the way the industry functions.

We have a three-pronged approach to growth whereby we are equally vested in acquisitions, bringing on new producers, and building our proprietary technology. In all applications of our vision, the broker serves as the backbone of our service model. By focusing on organic growth at the closest of levels through ‘personal’ personal lines, we’ve harnessed individuals in communities to focus on their strengths and relationships. We plan to help ethnic groups they affiliate with and who might be underserved due to cultural barriers or language divides. Every American should have the right and access to insure their most valuable assets and have the confidence in a trusted advisor to make the right financial decisions in the process. Our hyperlocal approach empowers our clients by making them feel heard and understood and then provides them with the best possible product at the best possible price. Our brokers genuinely empathize and serve their needs.

A prime example of our impact can be seen in the Detroit area, where a large Albanian population has been underserved for years. By tapping into the cultural tendency of one of our top producers in the market, we’ve successfully bridged traditional language and informational gaps, giving these clients greater confidence in their insurance choices. This approach is easily transferable to other major metropolitans with similar but localized demographics.

Our corporate build has followed a similar path. We’ve started our talent pursuit by pinpointing industry leaders for our executive team who contribute to a collective experience of diverse backgrounds from major players across the insurance vertical. Franchisors, consolidators, captives and insurtechs – all balance our executive leadership. It is this patchwork of experience and a collaborative team mindset that enables us to build our business with precision in efforts to fill the void in the insurance industry.

The combination of hyperlocal thinking and treating each person as an individual lies at the heart of our identity and will continue to define the organization moving forward. We are driven by the pursuit of social good. We are committed to challenging the status quo in the insurance industry. We are passionate about bringing individuals together to allow each to support and shine at what they do best. We are dedicated to training and development. We are excited and looking for hungry individuals to seize their career trajectory and chart a path for personal growth. Our service recruitment model is bringing on individuals sometimes without college educations, or who are looking for an opportunity with no ceiling - and creating $100,000 jobs through our in-force training and career incentive programs. The team we are building represents this patchwork in all assets of our company.

For the sector to evolve and better serve its clients, it must recognize these underserved markets on their terms. The tools and technology needed to achieve largely already exist – all that is required is a departure from the industry's traditional thinking and put the pieces together in a way that is perfectly customized for the industry. We are spearheading this change, proving that a more personalized and efficient approach to insurance is not only possible, but necessary.

As we continue to grow and acquire more local agencies, their influence in the industry will only increase, encouraging other insurance providers to adopt similar practices. The insurance industry's future is poised to be more inclusive, efficient, and client-focused, and Evertree will be the Pathfinders for an entire industry to follow.

If you are a forward-thinking, broker-centric agency owner who is experimenting with innovative technology, or a diverse individual who has accepted their path and contributions to the insurance industry, or simply a determined person that loves to sell and build meaningful relationships, we would love to hear from you. Please contact us at info@evertree.co.

We believe you are the future.

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Greg T.

Jacksonville, FL

Great communication and thorough explanations every step of the way. I would highly recommend and use again for insurance needs.

Greg T.

Jacksonville, FL

Great communication and thorough explanations every step of the way. I would highly recommend and use again for insurance needs.

Greg T.

Jacksonville, FL

Great communication and thorough explanations every step of the way. I would highly recommend and use again for insurance needs.

Brian R.

Detroit, MI

So far, I've been very happy in regards to my auto & home insurance needs. The rates are very competitive and lower than most other insurers. The agent is always available in a moments notice either by phone or email. I would highly recommend to anyone.

Brian R.

Detroit, MI

So far, I've been very happy in regards to my auto & home insurance needs. The rates are very competitive and lower than most other insurers. The agent is always available in a moments notice either by phone or email. I would highly recommend to anyone.

Brian R.

Detroit, MI

So far, I've been very happy in regards to my auto & home insurance needs. The rates are very competitive and lower than most other insurers. The agent is always available in a moments notice either by phone or email. I would highly recommend to anyone.

Ross T.

New Lenox, IL

Whenever I have a question or need assistance, I always feel like I’m not only a priority, but that there’s also a personal relationship between the customer service rep and me. I really appreciate the customer care our family has received.

Ross T.

New Lenox, IL

Whenever I have a question or need assistance, I always feel like I’m not only a priority, but that there’s also a personal relationship between the customer service rep and me. I really appreciate the customer care our family has received.

Ross T.

New Lenox, IL

Whenever I have a question or need assistance, I always feel like I’m not only a priority, but that there’s also a personal relationship between the customer service rep and me. I really appreciate the customer care our family has received.

LORI M.

DETROIT, MI

You are constantly following up with me to ensure documents are signed and our insurance is in order. I also appreciate the level of customer service you offer. When I call I am speaking to a person who is knowledgeable about me. I love the personal touch.

LORI M.

DETROIT, MI

You are constantly following up with me to ensure documents are signed and our insurance is in order. I also appreciate the level of customer service you offer. When I call I am speaking to a person who is knowledgeable about me. I love the personal touch.

LORI M.

DETROIT, MI

You are constantly following up with me to ensure documents are signed and our insurance is in order. I also appreciate the level of customer service you offer. When I call I am speaking to a person who is knowledgeable about me. I love the personal touch.

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