Cook, Hall & Hyde Inc.
East Hampton, N.Y.
Owner(s)/principal(s): multiple
2006 personal lines premium: $22.1 million
No. of personal lines insurers: NR
Cook, Hall & Hyde Inc., founded in 1947, is a regional broker with three offices in New York and New Jersey. The agency also operates a private client practice built around the needs of affluent individuals.
While the firm does not provide real-time comparative quotes for personal lines customers, its personal lines business has grown consistently for the past 25 years, says Len Scioscia, president. “We have consistently built our dedicated sales organization to capitalize on our agency’s team selling concept and to maximize our relationships with centers of influence.”
Scioscia reports that more than 30 percent of the agency’s new sales each year come from referrals within the agency, primarily among its salespeople. “Personal insurance is a well integrated part of our ‘team selling’ initiatives,” he says. “This allows us to present ourselves differently to our customers when compared with most other agencies.”
Approximately 50 percent of the agency’s customers purchase personal umbrella products, but on a revenue basis, personal umbrella represents a very small percentage of the total, Scioscia notes.
Scioscia cites three keys to the agency’s success in personal lines: history of investing in new salespeople; state of the art service platform; and relentless execution of a “team selling” strategy.
Topics Personal Lines
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