"The current hard market conditions have been the most challenging hurdles to navigate in over 20 years," says independent agent Jeff Johnson. "There are so many factors playing into this hard market, which make placing business more difficult than ever before."
Jeff Johnson
Partner
Carmel, Indiana
How did you get started at your agency?
I've been with Shepherd Insurance since August 2012. Prior to that, I had worked for another agency for nine years but knew I wanted to make a move for the remainder of my career. I interviewed with many of the top firms in Indianapolis, but it was Shepherd Insurance that immediately felt like home.
Not only did I find my forever home, the leadership at Shepherd also offered my dad a position. We've been able to build “Team Johnson" within the agency and collectively we've built a large book of business with some wonderful clients. I specialize in a handful of industries including motorsports, contractors, garage operations, manufacturing and real estate.
Challenges in the commercial lines market?
The current hard market conditions have been the most challenging hurdles to navigate in over 20 years. There are so many factors playing into this hard market, which make placing business more difficult than ever before. Even somewhat “easy" classes of business are seeing significant rate increases year over year or are being non-renewed in some cases. Also, marketing those clients doesn't always lead to better products or pricing for our customers.
Overcoming those challenges?
The key to delivering this news to our clients is education and communication. When your clients trust you and the data you share with them, they understand the current market conditions. It doesn't mean they are happy about it, but they believe in us and stay with us.
Future trends?
The market will soften at some point, but for now every client requires our attention and our time to make sure we have the best programs in place that the market will allow.
Advice for a fellow agent?
Learn the coverages available, study people who are successful and find a strong mentor. It is always helpful to have a niche or multiple niches where you can develop expertise and build relationships within those industries. Building relationships with carriers, underwriters and clients is a proven formula for many successful agents.
Olivia Overman is IA content editor.
