SPOTLIGHT ON


Excellence


John Hegarty, president and CEO of Commonwealth Insurance Partners in Quincy, MA, recently spoke with us about the agency’s strategy for success and why Arbella is one of their preferred growth partners.


MARKETPLACE CHALLENGES Commonwealth Insurance Partners writes more than $4 million of commercial business with Arbella. As a market wholesaler, Commonwealth helps retail insurance agents place their personal and commercial business with select carriers; however, the marketplace has recently presented some challenges. “The market started to soften about six months ago; carriers are looking to aggressively grow their commercial business and prices have decreased. Our biggest challenge is to stay ahead of the curve—to maintain our current accounts and continue to grow.” So how does Commonwealth stay ahead of the curve? “It’s important to anticipate pricing trends and know what competitors are doing, so that we continue to provide our clients with the most valuable coverage.”


A STRATEGY FOR GROWTH AND SUCCESS John says that Commonwealth’s strategy for success is about finding the right carrier fit. “As wholesalers, we target the best available accounts within the carrier’s appetite. We consistently and aggressively seek out new business opportunities from the producers we partner with.” While the agency maintains a 92% retention rate and grew 11% in premium last year, John says that success is not all about the numbers. “As commercial agents, we have the privilege of writing our clients’ most precious asset—their business. The care we take in placing the business is our differentiating factor; we treat the business as if it were our own.”


THE ARBELLA DIFFERENCE John says that local carriers have a distinct advantage over nationals in their ability to communicate more efficiently and be more readily available to their independent agents—and that Arbella does this best. “Arbella truly understands the value of communication and accessibility, and it’s helped us grow significantly together.”


Commonwealth’s relationship with Arbella underwriters also carries a competitive advantage. “Our underwriter, Deb White, is always available to us,” says John. “Arbella helps us get the right pricing and angle of coverage for an account. If a large account requires more attention and we need to garner their trust, Arbella is the carrier who will send members of its executive team to meet with the client directly to address their concerns. Arbella’s overall accessibility is a strength that deserves more recognition—not many carriers deliver that kind of commitment.”


The partnership between Commonwealth and Arbella is based on shared values and mutual respect. “Arbella continues to support us by focusing on relationships, being local and accessible, and investing in technology and underwriting talent. I am confident we will continue to grow profitably together for years to come.”


S I G NALS WI NTE R 2015


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John Hegarty


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