"The accessibility of buying insurance online is becoming so great that the convenience of doing insurance without an agent is an issue that will probably come up a lot more," says young agent Megan Kempf. "I think it’s creating problems for people who short themselves on coverage."
Megan Kempf
Agency Manager
New Athens, Illinois
Age: 29
Go-to drink order: Ice-cold diet Dr. Pepper
No. 1 item on bucket list: I'm a redhead, so my dream has been to travel to Ireland on St. Patrick's Day
Favorite candy: Hershey's bar with almonds
How did you get started in insurance?
I worked for a hospice company for many years. I was attending night school to be a nurse and I hated it. I wasn't happy. I was trying to pay my way through school, working and taking one or two classes each semester. I realized there was no way I was ever going to get done with school. Then someone reached out to me about working for Allstate. I had an interview with Allstate but being a captive agent was not the route I wanted to go. I liked the flexibility of the independent agents. My uncle owned—and still owns—Matzenbacher Insurance Agency, and he mentioned he was looking for a new employee. I've been here ever since, and I now manage the agency. I really enjoy it.
Industry challenges?
We've been handed major challenges in the last two years—rates, restrictions and retention. It's more difficult to move business and retain customers and keep everybody happy.
Involvement in the Big I Illinois Young Agents Committee?
It's been so beneficial to be able to work with other young insurance professionals. I'm looking forward to connecting with others across the state. Being able to bounce ideas off of other young agents for marketing, retention and other business strategies is really nice.
What do you love about insurance?
I love the opportunity to work with people from all walks of life—individuals just starting out and buying a home, a young couple buying a new vehicle for a growing family or grandparents buying a side-by-side. There are so many different people and different stories. I love helping them find coverage for the things most important to them.
Best thing about being an independent agent?
The ability to retain customers. Whether the customer is unhappy with rates—who isn't right now?—we always have a second option for them. Captive agents find themselves with their hands tied when an unhappy customer comes to them, which usually results in that customer having less coverage to counteract the increase in premiums or the customer just leaving altogether.
Role model or mentor?
The agency owner, who is my uncle. I've been blessed to work alongside him. He has over 40 years in the insurance business. He's shown me the ropes and he's helped me keep a level head during this last year when everything has been changing so rapidly. He reminds me that these challenges are not brand new to the insurance business, they come and go.
Generation Z and millennial stereotypes?
People are quick to write off young insurance professionals for lack of experience, but we bring a perspective that our experienced predecessors can't because we're adapting to so much more technology than they have ever had to. Everything is at the consumer's fingertips now, which makes the role of the independent agent more important than ever to inform the consumer's decision on insurance.
Future of the industry?
The accessibility of buying insurance online is becoming so great that the convenience of doing insurance without an agent is an issue that will probably come up a lot more. I think it's creating problems for people who short themselves on coverage. Before I started in the business and was just an insurance consumer, I didn't know anything about liability limits or deductibles. People who buy insurance on their own are going to base their decision on price versus actual coverage. It just makes the need for an independent agent that much greater.
AnneMarie McPherson Spears is IA news editor.
