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How Twain Insurance policy to ship “the know-how of tomorrow with the service of yesterday”

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How Twain Insurance policy to ship “the know-how of tomorrow with the service of yesterday” | Insurance coverage Enterprise America















President lifts lid on flat construction and personal fairness backing

How Twain Insurance plans to deliver "the technology of tomorrow with the service of yesterday"


Insurance coverage Information

By
Gia Snape

A brand new property and casualty insurance coverage company goals to ship complete and high-touch insurance coverage companies with “the know-how of tomorrow.”

Launched in January 2024, Twain Insurance coverage Company is the fruit of a partnership between a gaggle of producers led by John Lawrence, Tom Davis, and Griffin Wilson and personal fairness agency Twain Capital.

Lawrence (pictured), who heads up the Mississippi-based company as president, spoke to Insurance coverage Enterprise in regards to the enterprise.

“We at all times thought it might be a logical step for us,” he mentioned.

Twain Insurance coverage will concentrate on middle-market companies, specializing in actual property, development (together with surety), vitality, healthcare, waste, monetary, distribution, manufacturing, non-profit, and schooling.

Returning to a ‘client-focused’ service ethos

Earlier than beginning Twain Insurance coverage, the trio helped set up the mid-Atlantic workplace for Industrial Insurance coverage Associates (CIA), an impartial P&C brokerage with places of work in Tennessee, Maryland, and South Carolina.

Based on Lawrence, their imaginative and prescient for a brand new insurance coverage company – one which returned to the “tradition of client-focused service” – aligned with that of Twain Capital’s.

“We wished to take care of a boutique, high-touch really feel with our shoppers,” he mentioned. “They know our households, we all know theirs, they name us and may get us on the cellphone instantly.”

However Lawrence additionally acknowledged that insurance coverage may now not fall behind the altering instances. He envisioned Twain Insurance coverage being pushed by each cutting-edge know-how and consumer relationships.

“We all know that instances are altering with all of the totally different know-how that’s coming, and we wish to guarantee that we’re adapting,” Lawrence mentioned.

“Insurance coverage has been one of many final movers on the know-how entrance, however it’s a transfer that can occur, a shift to be extra technology-driven. We wish to guarantee that we’re doing that to have the ability to assist our shoppers.”

Producer-led insurance coverage company

One other characteristic that makes Twain Insurance coverage stand out out there is its flat organizational construction. The company goals to empower its producers by eschewing the normal company hierarchy.

Lawrence noticed that some organizations had too many layers of center administration that had been hampering effectivity and efficiency, as an alternative of boosting it.

“You bought to listen to about issues three or 4 totally different instances from a boss, then from a boss’s boss,” he mentioned.

“Our viewpoint has at all times been that in case you put high quality individuals into the right positions, they don’t want these extra layers of administration to succeed. We are able to use these extra sources to offer extra companies to our shoppers.”

Delivering extra worth to the middle-market phase is on the coronary heart of Twain Insurance coverage, Lawrence mentioned.

“Center to large-middle market is our area of interest, and we really feel it’s just a little bit underserved within the market proper now,” he mentioned. “It’s a candy spot the place we are able to actually excel, the place individuals do need the high-touch service and professionalism of a giant insurance coverage program, however they need the service mannequin of a smaller company.”

What’s subsequent for Twain Insurance coverage Company?

Twain Insurance coverage has hit the bottom working with an in depth record of shoppers and provider relationships throughout the nation.

Over the subsequent few months, the staff will concentrate on crafting a development framework, attracting extra producers, and constructing its ebook of enterprise with shoppers and carriers.

“It’s been a really enjoyable and thrilling first few weeks,” Lawrence mentioned. “We glance to rising not solely organically, however we’re additionally speaking to extra producers within the market which are intrigued by the flat hierarchy that we’re going for and perhaps disillusioned with their present scenario and relationships within the market.”

The company can also be seeking to department out from its current bases in Maryland, Virginia, DC, Delaware, and Pennsylvania.

“We undoubtedly want to increase, however we’re in search of the best individuals,” Lawrence mentioned. “The 2 areas we glance to develop out are the DMV (District of Maryland, Maryland and Virginia) space in addition to Mississippi. However I believe our preliminary purpose is [to get] the best particular person, no matter the place they sit. That’s extra necessary to us.”

Lawrence additionally addressed the partnership with Twain Capital. He mentioned that the place most personal fairness companies see a time horizon for his or her return on funding between 5 to seven years, Twain Capital helps Twain Insurance coverage’s longer-term ambitions.

“Twain Capital desires to be the antithesis. They’re in search of extra of an extended, perhaps 10-to-15-year horizon for his or her portfolio firms, so it’s a a lot totally different expertise,” Lawrence mentioned.

“We didn’t need personal fairness that was simply wanting on the backside line in any respect factors. We wish to construct one thing sustainable for numerous years. Twain is absolutely supportive of that imaginative and prescient as a result of it’s a mutual imaginative and prescient.”

Do you’ve gotten any ideas about Twain Insurance coverage Company? Please share them within the feedback.

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