We pave your insurance agency's path to success

I was the principal of an agency for a number of years. Suddenly, in the course on one year, we lost three major accounts, carriers were threatening to pull contracts and we were in real trouble. Mike Sterlacci and CoVerica provided my agency and customers a safe harbor by acquiring us. The only thing that I wish I could’ve done differently is to have sold to CoVerica 10 years earlier, because CoVerica is totally unique in its approach to acquisitions and my life would have been so much simpler. I love being a part of Team CoVerica!

Our agency was a decent size as far as independent agencies go, roughly around $1,000,000 in revenue and we were primarily a service focused organization. We retained almost all our clients and would only lose accounts if the other agent had a more competitive market we didn’t have access to. However, we did not have much growth because we couldn’t afford to hire-on new producers/acquire other decent agencies. This being said, our revenue plateaued for a few years but after we were acquired, we grew our revenue to $1.46M in about 3 years. This was achieved mainly by being able to focus more on new business without the fear of losing clients causing us to miss contingencies/not be able to pay bonuses. Additionally, the support from a sales standpoint with CoVerica’s risk management team allowed us to actively go after much larger accounts we would never have thought we could get before. Prior to the acquisition our new business was mainly referrals from existing clients but now we confidently close accounts that are between $10,000-$100,000 in revenue (roughly $100,000-$1,000,000 in premium) and consistently write over $100,000 in new business revenue a year.