2023 Year In Review

TABLE OF CONTENTS

04 WHAT IS TGS?

06 WINNING THE TALENT WAR

Retain, Recruit, Attract

12 RECRUITING AND SUPPORTING NEW PRODUCERS

Double Down

20 PARTNERING WITH BEST-IN-CLASS BROKERS

Partner of Choice

26 LOOKING AHEAD

t was the Summer of ’22.

INSURICA leaders were reflecting on the very good year the company had in 2021. They talked about how impressive it was, truly, to not only survive the challenge of COVID-19 but also grow the company through those dark days. They weren’t breaking their arms patting themselves on the back, but it was quite appropriate to celebrate this legitimate victory.

But the much-anticipated industry rankings had just been published by two respected publications: Business Insurance, ranking America’s Top 100 brokers of insurance, and Insurance Journal, ranking the country’s top privately held agencies. Despite record growth in all measurable areas, INSURICA fell a couple of spots on both lists.

INSURICA remained among the elite brokerages in the nation, but if we wanted to rise higher on that list, it was clear that we needed a new plan. A more aggressive plan. A plan that would catapult INSURICA into its preferred future.

So, the architects of a new plan went to work. Their vision would be bolder than ever before. The new plan would be transformative in its design. It would seek to take the very best attributes of our company and double down on their successes. The central theme of the new plan would be to Win the Talent War, because, after all, our company is about people.

This historic moment in our company’s history began with a focus on our mantra, “$225M by 2025,” but soon turned toward five years, ten years, even 50 years into the future. “What could we do today to build a company that would be here for our grandchildren?”

The energy in the room was palpable. The architects of the new plan each contributed their individual expertise, knowing their vision could transform the company. Twice as many new producer hires…the support needed to ensure their success…rewarding and retaining the incredible people who work here today AND recruiting and attracting new INSURICAns to join the company…

Pencil to paper. A Transformational Growth Strategy was born.

INSURICA CEO and “Chief Architect of TGS” Mike Ross gathers with his leadership team as they put the final touches on our plan for the future.

GROWTH AND WINNING

ARE FUN – and we’ve certainly had a lot of fun the past 20 years! Together, our community stands on a solid foundation, and I’m energized to know that what we’ve built is not just sustainable but is the foundation from which we will propel well into the future.”

— Mike Ross, President and CEO

NSURICA’s Transformational Growth Strategy (TGS) is a bold vision for the company’s future, building upon 20 years of success and fueling growth for the generations ahead.

As INSURICA approaches its next milestone –$225M by 2025 – company leadership asked a great question: “What can we do TODAY to continue our momentum as a leading privately-owned broker for the next 10 years…20 years…and even 50 years?” That’s how TGS was born. INSURICA is “doubling down” on the momentum of the past two decades.

What does TGS look like? INSURICA is creating transformational strategies in three key areas.

WINNING THE TALENT WAR

First, we must RETAIN the extraordinary talent that currently exists at INSURICA. We know how fortunate we are to currently have our industry’s most talented professionals. The future is built upon the people who have engineered INSURICA’s track record of success. We continue our commitment to today’s INSURICAns through:

• Competitive Compensation

• Best-In-Class Benefits Program

• Personal and Professional Development

• Corporate Commitment to Diversity and Inclusion

• Performance Bonus Incentive

• Paid Time Off for Volunteering

• Hybrid Work Environment

Next, we RECRUIT and ATTRACT the next generation of INSURICAns not only through the strategies listed above but also:

• Understanding generational differences and creating a workplace that inspires professionals who are at the beginning of their career journey.

• Rewarding current INSURICAns who help recruit the next generation to the company.

• A robust onboarding and training program to successfully launch an INSURICA career from the very beginning.

RECRUITING AND SUPPORTING NEW PRODUCERS

INSURICA has a history of investing in new producers, and our track record of success is above the industry standard. Still, we commit to doing this more and doing this better.

• INSURICA will double down on the New Producer Program. Twice as many new producers, and twice the effort to help new producers validate.

• We realize that new producers will require a lot of support across the entire company. See “Winning the Talent War” at left.

• INSURICA’s future growth literally depends on our ability to attract and retain the next generation of producers. INSURICA is determined to be the top choice of today’s and tomorrow’s producers through the industry’s best training program, production assets through RM4U and modern marketing techniques, and ownership opportunities.

PARTNERING WITH BEST IN CLASS BROKERS

In addition to the transformational organic growth strategy, INSURICA must also double down on our commitment to partnering with our industry’s outstanding emerging brokers. In order to be the partner choice of these incredible agencies, INSURICA will:

• Target leading, emerging and next-generation agencies which bring expertise, leadership, and excellence to the INSURICA Community.

• Articulate INSURICA’s unique ownership model

• Seek boutique agencies whose niches and expertise add to INSURICA’s current portfolio

WINNING THE TALENT WAR

Key Core Value: Integrity

INSURICA Named in Business Insurance’s Annual Best Places To Work in Insurance Program

IN 2023, INSURICA was named in Business Insurance’s annual Best Places to Work in Insurance program, which recognizes employers for their outstanding performance in establishing workplaces where employees can thrive, enjoy their work and help their companies grow.

“Receiving this recognition is truly an honor and I in no way want to diminish that, but the true value in participating in programs such as this is the additional avenue to receive feedback from our colleagues,” Vice President of Human Resources Jeff Beagle said. “Core to our mission at INSURICA is creating a rewarding environment for colleagues and to accomplish that mission, we strive to continuously improve and enhance our organization in ways that are impactful for our community. That can’t occur without dialogue, and I am truly grateful for all our colleagues taking time to share their open and honest thoughts with us and to our Human Resources team and leaders that help bring this opportunity to life.”

Best Places to Work in Insurance is an annual sponsored content feature presented by Business Insurance and Best Companies Group that lists the agents, brokers, insurance companies and other providers with the highest levels of employee satisfaction. Best Companies Group identifies the leading employers in the insurance industry by conducting a free two-part assessment of each company. The first part is a questionnaire completed by the employer about company policies, practices and demographics. The second part is a confidential employee survey on engagement and satisfaction.

The program divides employers into the categories of small, 25-249 employees; medium, 250-999 employees; and large, 1,000 or more employees. This year’s report features 100 companies of various sizes, from 25 employees to more than 4,000.

The ranking and profiles of the winning companies were unveiled in the November issue of Business Insurance and online at BusinessInsurance.com.

Franks Named Bridgeport Citizen of the Year

CHARLI FRANKS, Personal Lines lead in Bridgeport, TX, has been with the agency since August 1, 1977, and she was recognized in March 2023 as Bridgeport’s Citizen of the Year. Charli was recognized for her tireless efforts within the Special Needs Community.

Charli is the sole caretaker of her son Jason, now 39 years old. Charli’s mission in life is to care for the special needs of others. Under her direction, she has created a vibrant and active community for both people with special needs and their families. She has spearheaded the Wise County Special Olympics, Special Needs baseball and formed activities unique to Bridgeport and Wise County. She organized and has worked for many years to provide monthly parties allowing fellowship, music, and a meal for the participants. These “socials” not only allow time for the participants to interact, but it also allows their families

to have time outside their normal routine of caring for their loved ones. It gives them time to go out to dinner, catch a movie or simply rest while their child or young adult has a fun night out in a safe atmosphere. Another program she is involved in is called “Heart of a Champion.” This program pairs a special needs person with a 4-H or FFA student showing animals at the Wise County Youth Fair. They get their special time to go into the show arena and interact in an activity many students simply take for granted.

Charli has done this while being a single mom (her husband passed many years ago), caretaker for her oldest son, Michael and helping Michael raise her granddaughter, Edyee. For several years, Michael has battled leukemia, undergoing bone marrow transplants, radiation, and chemotherapy. All the while, Edyee has participated in sports, cheerleading and other school activities.

Throughout all of this, Charli has been an integral part of the success of this agency. She is passionate and dedicated to our office and our clients.

INSURICA UNIVERSITY

Leading Colleagues into the Future

INSURICA’S FUTURE is built upon the foundation of education and being a “student of the game.”

INSURICA University continues to provide innovative and accessible learning opportunities to all colleagues.

Over the course of 2023 INSURICA University created an onboarding series titled “INSURICA DNA.” In this series, new colleagues can learn about INSURICA’s core values, history, structure and what it means to be an INSURICAN.

“Since we have gone to a virtual world at this point, it’s a way for people across the company to get to

THE GOAL FOR NEXT YEAR, IS TO START A PODCAST THAT FEATURES OUR COLLEAGUES, AND GETTING TO KNOW THEM PERSONALLY. A lot of our colleagues are into interesting extracurriculars and it would be exciting to learn about what they are doing.”

— Cecily Thomas, INSURICA University Coordinator

know some of our leaders that they may or may not get to know if they don’t live in the Oklahoma City or Texas area,” INSURICA University Coordinator Cecily Thomas said. “Leaders can go over what they do and if anyone needed to come to them for something, they are familiar with who they can reach out to.”

INSURICA University offered several business acumen courses and a live training series throughout the year. Average attendance was between 100 and 150 people, Thomas said.

Looking ahead to 2024, INSURICA University is planning a podcast series meant to highlight our talented colleagues and showcase how they are pursing being a “student of the game” both professionally and personally.

INSURICA University added 81 training sessions in 2023 and anticipates more live training sessions to come in 2024.

The colleges of Systems and Technical Applications, Sales Development, Insurance Contracts and Concepts, and Leadership and Professional Development allow colleagues to continue their pursuit of being “students of the game.”

LEADERSHIP

COLLEGE OF INSURANCE CONTRACTS AND CONCEPTS

COLLEGE OF LEADERSHIP AND PROFESSIONAL DEVELOPMENT

COLLEGE OF SALES AND DEVELOPMENT

COLLEGE OF SYSTEMS AND TECHNICAL APPLICATIONS

Bobbie Duke, Dean Tom Caraway

Tim McFall Larry Gundlach

Jeff Beagle, Dean Kevin Wellfare Ed Young Bobbie Duke

Taylor Caraway, Dean Dave Saldon David Winans Jeff Beagle

Carrie True, Dean Kari Hoffman Clem Courtney Peterson Janet Yem Taylor Caraway Sydney Overstake Kylie Hubbard

INSURICA’S DIGITAL DIVISION GAINS MOMENTUM IN 2023

IN THE EVER-EVOLVING landscape of the insurance industry, INSURICA’s Digital Division has proven that the sky is indeed the limit. With a remarkable first full year in operation, the momentum at INSURIConnect (IC) is nothing short of staggering.

“We surpassed every goal, including retention and growth, and we are still growing our team. The best part of our job is there is so much opportunity for growth at INSURIConnect.” Julia Hester, Director of Digital Revenue Growth said.

Over the past year, IC has welcomed a wave of new talent, expanding its team to meet the demands of its dynamic environment.

“In the past year, we’ve added two new Client Information Guides, a new sales team, a full-time trainer, and a quality control manager,” Hester said.

SALES VELOCITY BREAKTHROUGH

The Digital Division’s Sales Velocity in 2023 has been nothing short of impressive, reaching a remarkable 25.74%. Hester emphasizes that an achievable goal for 2024 is set at 30%, showcasing the team’s confidence and ambition.

However, the rapid expansion of the department posed challenges.

“Adding a full-time trainer was crucial to our success. In addition to adding a trainer, we started to home grow account managers through INSURIConnect,” Hester said.

INVESTING IN TALENT AND GROWTH

To further fuel their growth, INSURIConnect initiated an intern program in 2023. Commencing with three interns, the program proved to be a success, with one intern transitioning into a full-time position.

“Along with our internship program, developing our existing talent was something we strived for this year. It takes a lot of highly-trained service staff to help us achieve our goals,” Hester said.

INDUSTRY THOUGHT LEADERSHIP

The Digital Division did not just confine its success to internal growth; it also positioned itself as a thought leader within the industry. Kylie Hubbard, INSURICA’s Director of Innovation, showcased her expertise at Insurtech Boston 2023, emphasizing the importance of partnerships with agencies and sharing her personal experiences on how INSURICA forms and nurtures successful collaborations.

Hubbard, Hester, and Chief Innovation Officer, Jeff Nickles, further solidified INSURIConnect’s presence by attending InsureTech Connect 2023 in Las Vegas, Nevada.

EAGERLY ANTICIPATING 2024

As IC looks ahead to 2024, Hester expressed the team’s eagerness to deploy an AI/Learning model. This advancement aims to further assist Client Information Guides in directing customers to the correct carrier, showcasing the division’s commitment to innovation and excellence.

INSURIConnect’s first year has been marked by exceptional growth, strategic industry engagement, and a steadfast commitment to pushing the boundaries of digital innovation in the insurance sector. As they continue to reach new heights, the future looks promising for INSURIConnect and its dedicated team.

Kylie Hubbard speaks at the Insurtech BostonSales Exchange Conference.

INSURICA REBRANDS DIGITAL AGENCY

OVER THE LAST FEW YEARS, INSURICA’s digital agency was a work in progress. 2023 witnessed what was historically known as INSURICA Express and Broker Source join forces under a unified brand: INSURICA Direct.

As our company’s digital agency, INSURICA Direct can place insurance policies for personal lines, property and casualty, and employee benefits, no matter the customer’s geographical location.

COMPETITIVE ANALYSIS

To gain a better understanding of the current market, INSURICA’s Digital Engagement Coordinator Cole Deardeuff conducted a competitive analysis.

“Our comprehensive competitive analysis within the Insurtech space provided valuable insights into the offerings, methodologies, and strategic approaches of our industry competitors,” Deardeuff said. “By examining their product offerings, delivery mechanisms, and identifying existing gaps, we strategically positioned INSURICA Direct to capitalize on opportunities for improvement and innovation.”

Deardeuff collaborated with INSURICA’s Director of Digital Revenue Growth Julia Hester during the competitive analysis process.

“Julia’s leadership skills played a pivotal role in moving this project forward,” Deardeuff said. “Her industry knowledge and insightful contributions were instrumental in the success of our analysis. I am excited about our ongoing collaboration as we take on future projects expanding our digital offerings.”

Work began on a new website in 2023. With the information gained from the competitive analysis, the goal is to launch INSURICADirect.com in mid-2024.

DESIGN PROCESS

INSURICA’s uniquely talented graphic designer, Alyssa Laughead, elaborated on a few elements that went into designing INSURICA Direct’s logo and marketing materials.

“We wanted the logo to be modern and innovative, but still feel friendly and supportive,” Laughead said. “The Direct logo features our INSURICA gray with a nice, bright, technology blue to showcase our digital side. The bold typeface feels modern, yet friendly with its curved edges. We included an arrow to represent that Direct will point you (U) in the right direction.”

Laughead perfectly captured INSURICA’s core values in the new Direct logo.

We wanted to convey the customer’s journey. At INSURICA, we “specialize in you.” The fastest and most efficient way to reach a goal is to be Direct.

COLLABORATION

INSURICA leaned on one of its many resources to help kick start the rebranding process. CamGen Partners Strategic Marketing Consultant Christy Hrencher offered valuable insight and guidance throughout. Hrencher sang the praises of the Direct team and their willingness to “figure it out.”

“The INSURICA Direct team is relentless in their pursuit to try new things and as they try, they’re researching, building, deconstructing, and rebuilding,” Hrencher said. “It’s incredibly fun to work with a team that is both nimble and unafraid.”

Hrencher said she believes the INSURICA Direct team has a bright future ahead of themselves.

“Embracing technology for efficiency and decision making while also holding on to personalized service, the core of INSURICA, shows who INSURICA Direct is,” Hrencher said. “This is a distinct position in the market. Customers looking for an easy approach to a customized product for their unique business are going to find the perfect solution with INSURICA Direct. I’m really excited to see how the market responds.”

RECRUITING AND SUPPORTING NEW PRODUCERS

Key Core Value: Innovation

David Saldon poses on the Sales Exchange stage with current and former Rising Stars.

RISING FROM THE RANKS

Rosenhamer Promoted to Chief Sales Officer

INSURICA ANNOUNCED in August the promotion of Dillon Rosenhamer to Chief Sales Officer and Senior Vice President.

“Dillon is highly regarded and recognized by his fellow producers as one of INSURICA’s top sales leaders,” President and CEO Mike Ross said. “Last year he was named INSURICA’s national “Producer of the Year” for topping all active producers in new business revenue. He eagerly and voluntarily contributes time and effort as a mentor, sales coach, practice leader and Partner

Club member – so it is a true honor to welcome Dillon to his new role as INSURICA’s Chief Sales Officer.”

Dillon joined INSURICA 13 years ago after spending years, successfully, in commercial lending in the banking industry. In Dillon’s tenure at INSURICA he has provided outstanding leadership for the Construction Practice and mentored many producers in Central Oklahoma and across the INSURICA footprint.

Above: Dillon Rosenhamer embraces his father, Gary, at INSURICA’s 2023 Sales Exchange Conference.

Right: Dillon Rosenhamer

INSURICA AT-A-GLANCE

SALES AND FINANCIAL PERFORMANCE

$180 M

GROSS REVENUES

+14.3% Growth

$14.3 M

NEW BUSINESS +$2.2 M

REVENUE GROWTH DERIVED FROM: 4.1% ACQUISTIONS 10.2% ORGANIC $31 M EBITDA +9.5% Growth

BREAKING BARRIERS AND SHATTERING CEILINGS

Tracie Garner Makes History as First Woman to Surpass $2 Million in INSURICA Revenue

IN THE EVER-EVOLVING landscape of the insurance industry, milestones are achieved when individuals step out of their comfort zones to break new ground. This year, we celebrated a remarkable achievement that signifies progress and opportunity within the field.

Commerical Lines Producer, Tracie Garner, became the first woman in INSURICA’s storied history to eclipse a $2,000,000 book of business. She is one of seven producers within the company to hit the career milestone.

In an industry traditionally dominated by men, Garner’s journey to success was marked by persistence, resilience and an unwavering commitment to her clients.

“I work every day like I’m broke and treat every customer the same,” Garner said. “I never look at how much a customer pays a year for insurance. If they pay $10,000 a year or $1,000,000, I never look at that. I’m there to serve them to the best of my ability.”

INSURICA’s commitment to diversity and inclusion has played a crucial role in facilitating this historic achievement. By fostering a workplace culture that values talent and expertise over gender, the company has empowered women to reach new heights in their careers.

“Recently in one of our meetings, I had everyone write down their 5-year goals and we are constantly looking at ways to meet them. For new employees, I reach out by text or check-in, encourage them and help them realize they can do it,” Garner said.

This achievement is not only a personal milestone but also a victory for gender equality within the insurance industry. It serves as an inspiration to other women aspiring to make a mark in this field, showing them that glass ceilings can indeed be shattered.

“Our office has a rising star meeting and producer meeting every Monday morning. I say about 48 weeks out of the year, there are a few days we don’t meet for whatever reason,” Garner said. “We go over schedules, talk about sales goals and talk through any challenges they face.”

The first female producer to surpass the $2 million book of business at INSURICA has not only broken the glass ceiling for countless other women in the industry, Tracie continues to elevate her own expectations and is eager to hit her next milestone.

Tracie continues to be a “student of the game,” and is eager to learn and implement INSURICA’s RM4U process,

“RM4U will make a difference in relationship building and educate businesses, helping them realize that I’m part of their team,” she said.

Garner’s dedication and success are a reminder that diversity and inclusion are vital for the continued growth and evolution of the insurance sector. We celebrate her achievements this year and we eagerly anticipate many more groundbreaking accomplishments in the future.

Mike Ross poses with Tracie Garner after she received the Polarius Award at the 2023 Sales Exchange.

PRODUCERS RECOGNIZED AT 2023 SALES EXCHANGE CONFERENCE

INSURICA HOSTED its annual Sales Exchange Conference in March 2023 at the Grand Hyatt DFW in Dallas, TX.

The awards banquet honored the top producers in the organization, named below.

Paulette Poynor – Employee Benefits Breakthrough

Robert McKnight – Property & Casualty Breakthrough

Bryce Rusler – Digital Breakthrough

Sheila Seidensticker – Employee Benefits Shooting Star

Chris Beall – Property & Casualty Shooting Star

Dillon Rosenhamer – Top Property & Casualty Producer

Dustin Brand – Top Employee Benefits Producer

Tyler, Texas – Zenith Award (highest sales velocity)

Bridgeport, Texas – Apex Award (most profitable)

Tracie Garner – Polaris Award (sales leadership/mentorship)

202 2 RISING STA R GR ADUATE S

Chris Beall | Jermaine Brown

Ashton Gullion | Robert McKnight

Above: Dave Saldon and Mike Ross speak at INSURICA’s 2023 Sales Exchange Conference.

Above from left to right: Dillon Rosenhamer, Andrew Atkinson, Ryan McClafferty, Dax Deardeuff

Left: Sheila Seidensticker

CHANGING THE LANDSCAPE

Dave Saldon Created the Rising Star Program and Transformed INSURICA in the Process

ONE OF THE PIVOTAL MOMENTS in INSURICA’s history occurred on November 15, 2010. Following a months-long and nationwide search, INSURICA hired our first Sales Development Leader, the one and only David Saldon.

After nearly 13 years as INSURICA’s Director and Vice President of Sales Development, Saldon retired at the end of May 2023. Saldon’s contributions to our company’s remarkable growth over the past decade cannot be understated.

“I’m also pleased to say that Saldon is not stepping away from INSURICA completely,” INSURICA CEO Mike Ross said. “He is a gifted sales coach and trainer and will continue applying this gift as he mentors colleagues throughout the Community. His passion

for helping our Rising Stars achieve their individual dreams is his truest gift, and we are fortunate to continue to experience his leadership in this area.”

When David joined INSURICA, he was new to Oklahoma, but he was not new to Sales Leadership or Sales Development. His talent in leading and coaching others to new levels of success had an immediate and lasting impact.

“The results are hard to fathom,” Ross said. “During David’s time as our Sales Development Leader, we’ve seen new producer growth, new business growth, new program growth and overall INSURICA Community growth like never before in our history.”

Very well done, David! Thank you for giving us your all.

2023 TOP PRODUCERS

$2 MILLION BOOK OF BUSINESS

$1 MILLION BOOK OF BUSINESS

Guy Griggs

Michael Moore

Dave Deardeuff Tracie Garner Tom Caraway

Dustin Brand

Andrew Atkinson

Blake Johnson

Cliff Spickler

Charles Milby

Brad Board

Don Richardson Sr.

Dillon Rosenhamer

Mike McCurdy

Jared McComis

Phillip Smith

Mark Heyne

Gary Rosenhamer

Bradley Box

Not Pictured: Thomas Seuthe

Grant Smith

Ranee Findley

Todd Davault

Harmon Hamann

Ryan Knowles

Josh Wall

Ernie Kidwell

Eric Pach

Jason Findley

Chris Holt

Kevin Waldinger

Ron Keegan

Trey Dacy

Tom Murphy

George Haynes

John Weed

Kelley Speck

PARTNERING WITH BEST-IN-CLASS BROKERS

Key Core Value: Purpose

C&S Specialty Underwriters Joins INSURICA

INSURICA ADDED to its capabilities with the Jan. 1, 2023 acquisition of Atlanta-based C&S Specialty Underwriters.

C&S Specialty Underwriters, a Managing General Underwriter (MGU) that specializes in underwriting commercial general, professional, pollution and excess liability for construction, environmental and other specialty risks in the excess and surplus lines market is poised for exponential growth.

“I’m excited. INSURICA is an excellent fit culturally and strategically,” C&S President Preston Starr said. “We will continue to focus on organic growth with our existing broker and carrier partners. We will also find opportunities to acquire underwriting

talent in other industry verticals. Our goal is to dig in and utilize the resources at INSURICA to help build out a data and technology platform to enhance our underwriting and create scale.”

C&S Specialty Underwriters will continue to be led by Starr and the same group of talented, experienced underwriters.

With this addition, INSURICA creates the in-house ability to craft exclusive industry-focused programs.

“Our new partnership with C&S is a watershed moment for our company,” INSURICA CEO Mike Ross said.

“The addition of this firm, with their experience and expertise in program business, further secures INSURICA’s place among America’s elite brokerages.”

Drew Smith & Associates Makes INSURICA New Home

ON JAN. 1, 2023, Drew Smith & Associates joined INSURICA, furthering its experience and expertise in the healthcare sector.

“Drew Smith and his team are a huge contribution to the healthcare practice,” Vice President and Healthcare Practice Leader Phillip Smith said. “What ever a physician needs, Drew handles it. He truly has a unique skill set.”

Founded in 2004, Drew Smith & Associates focused on physicians, providing medical malpractice insurance and small group insurance plans.

“This partnership changes the dynamic,” Drew Smith said. “Having your own shop is a lot of fun, and a lot of work but you also get to a certain point where you reach a sense of comfort. Moving to INSURICA brings you to another level and presents a wonderful opportunity to grow given the available resources.”

Drew brings a talented team, consisting of Leisa Hall and Cassie Williams, who all add valuable expertise

and experience to INSURICA’s Healthcare Practice, Phillip Smith said.

Preston Starr, C&S President

From left: Cassie Williams, Drew Smith, Leisa Hall

INSURICA ANNOUNCES NEW CREDIT FACILITY

to Accelerate Acquisition Strategy

INSURICA OFFICIALS recently announced a new $150 million credit facility through BMO Financial Group as part of the company’s new accelerated growth initiative, “Transformational Growth Strategy” (TGS).

INSURICA is the 29th largest privately-held broker of insurance in the U.S. with approximately $180 million in annual revenue. The new credit facility fuels the agency’s commitment to “double down” on growing the company not only through organic growth but also through partnering with other likeminded insurance agencies across the country.

The Oklahoma City-based firm acquired a number of larger firms over the past decade, mainly in Texas, Arizona and California. The new credit facility enables the company to accelerate that part of their business model. The firm will seek new partnerships not only in their current footprint, but also beyond.

Chief Acquistion and Digital Strategy Officer, John Hester, said the new credit facility will enable INSURICA to invest in more partnerships at today’s price point.

“I think we’ve all been watching with great interest what has been happening the past decade in the insurance industry M&A space,” Hester said. “The impact of private equity is well documented.

OUR ACQUISITION MODEL IS QUITE DIFFERENT.

Historically our best partnerships have been with agencies whose leaders are not simply looking for an exit plan, but rather to stay involved and grow along with INSURICA. Our agency partners have seen their equity and value increase far beyond what they could’ve achieved alone.”

— John Hester, Chief Acquisition Officer

However, those dollars come at a price. Along with the Cameron Family office, our model is built for the long haul with a commitment to innovation, award-winning culture, producer-enabling tools, and a focus on longterm wealth building for our employee-owners. We target agency acquisitions both large and small that are eager to take what they have built into the future with our company.”

INSURICA’S TRANSFORMATIONAL GROWTH STRATEGY, OR “TGS,” IS COMPRISED OF THREE MAIN PARTS:

1. Winning the “talent war” by retaining, attracting, and recruiting the industry’s most talented professionals.

2. Recruiting and supporting twice as many new producers.

3. Partnering with “best-in-class” brokers.

The new credit facility is a key development in the third part of TGS.

INSURICA has 37 locations in 11 states, stretching across the southern part of the U.S. from California to Florida. The firm was recently named The Agent of the Future by Liberty Mutual and was also named The Best Agency to Work For in America by the industry’s leading publication, Insurance Journal. For more information, visit INSURICA.com.

“Our acquisition model is quite different,” John Hester, INSURICA’s Chief Acquisition Officer, said. “Historically our best partnerships have been with agencies whose leaders are not simply looking for an exit plan, but rather to stay involved and grow along with

Delighting Our INSURICA Community

INSURICA 2023 SERVANT LEADERSHIP SNAPSHOTS

INSURICA Community Serves with Passion

IT’S NO SECRET INSURICA colleagues embody our core value of PURPOSE – Passion transforms ordinary into extraordinary and delights our INSURICA Community.

Dedicated colleagues live out INSURICA’s Core Values of Integrity, Innovation and Purpose by serving their communities in a variety of honorable ways.

At INSURICA, eligible colleagues can request Paid Volunteer Time-Off to serve at a non-profit charitable 501c3 organization of their choice. Colleagues may volunteer on their own, or work together with other INSURICA colleagues in a team effort.

Colleagues can donate up to a maximum of four work days per year, one per calendar quarter, toward volunteering. The purpose of INSURICA’s Community

Service Volunteer Program is to support activities that enhance and serve communities in which we live and work, as well as address the issues that impact quality of life.

The Oklahoma City, OK, branch helped raise $37,339 for the United Way’s centennial year celebration. This was a 63% increase over the previous year. INSURICA matched employee pledges, dollar-for-dollar.

1. PAMPA, TEXAS – Volunteers greet visitors at the Annual Celebration of Lights.

2. ATLANTA, GEORGIA – C&S Specialty Underwriters and Global Express Underwriters volunteered and packed over 3,745 nutritional meals for people with medical challenges at Open Hand.

3. PAMPA, TEXAS – Collected food donations for the Methodist Church Food Pantry.

4. LAMESA, TEXAS – Colleagues presented the Lamesa Boys and Girls Club with a corporate sponsorship check.

5. OKLAHOMA CITY & NORMAN, OKLAHOMA –Branches volunteered at Positive Tomorrows.

6. PHOENIX, ARIZONA – Provided gifts for a family of six and helped package and distribute gifts for 185 familes with Save the Family.

7. OKLAHOMA CITY, OKLAHOMA – Volunteers aid runners at the finish line of the 2023 Oklahoma City Memorial Marathon.

and service. From the newest producers and account managers to our most senior-level colleagues, RM4U is our intellectual property, and our clients understand that we are an essential part of their management team.

here is a time for planning, and there is a time for building.

Now it’s time to build.

INSURICA’s Transformational Growth Strategy is in place, and now all INSURICAns have a guidepost on which to focus. What is the vision for 2024 and beyond?

INSURICA’s future is happening today.

INSURICA is investing in every area of our enterprise. We are hiring new producers and assembling the support resources required to ensure success. As a perennial “Best Practices” agency and a “Best Place to Work” agency, we are winning the talent war by retaining our best people and attracting new professionals and agency partners.

INSURICA’s proprietary risk management process, RM4U, is our secret sauce. It’s not just the latest, greatest sales strategy. Rather, it’s who INSURICA is. It’s our process. RM4U is in our DNA as we serve our clients with the highest level of industry expertise

INSURICA is the most innovative agency in America. The proof? We’ve already won that award.

INSURICA built the most capable digital agency in the country with INSURICA Direct. A very talented group of Client Information Guides greet our new customers at our digital front door and help them find the best resources to meet their needs. INSURICA Direct serves small and medium-sized businesses’ insurance needs including Property & Casualty, Employee Benefits, and Personal Lines. It’s the future of the insurance industry, and it’s here today.

INSURICA is pioneering the use of AI for the insurance industry and finding ways through Robotic Process Automation to gain efficiencies and free up time for our professionals to do what they do best.

All this, and more, is combining to make INSURICA more profitable than ever before, and ensuring our future for generations to come. Indeed, TGS has transformed the way we are building our company together. And it all began with a great plan.

INSURICA is an equal opportunity corporation. This publication is a creation of the INSURICA Marketing Communications Department and is issued by INSURICA.