How ‘pleasant rivals’ in Texas grew to become collaborators

Higginbotham unveiled its merger with pleasant rival Barnard Insurance coverage Company final month.

The Fort Value large joined forces with the family-owned Wichita Falls company, which makes a speciality of industrial insurance coverage for the power, building, hospitality, and manufacturing industries. 

John Ok. Barnard (pictured), managing director of Barnard Insurance coverage Company, spoke to Insurance coverage Enterprise concerning the pivotal transfer and the long-standing relationships between his agency and Higginbotham.

“We had been a small insurance coverage company pushed by the group by giving again and caring for our of us and lots of generations of their households,” Barnard mentioned. “[But] over the past 10 years, the necessity to give added worth to our shoppers has grown.

“For the primary time, we are able to collaborate with [Higginbotham], decide one another’s brains, and community extra as teammates slightly than rivals.”

‘We’re by no means going to promote to one of many huge companies’

For Barnard, the brand new chapter in his company is important for a number of causes. Household-owned and operated since 1931, Barnard is the fourth-generation proprietor of the 97-year-old agency.

“My great-grandfather began our company. From a younger age, I used to be all the time taught, ‘We’re by no means going to promote to one of many huge companies’. It didn’t make sense to us,” Barnard revealed.

Barnard Insurance coverage Company’s longevity within the business was as a consequence of a deep reference to the group and an unwavering dedication to customer support, Barnard mentioned. Nevertheless, the insurance coverage panorama was altering, with it, shoppers’ wants and expectations.

His preliminary skepticism about merging with a extra distinguished agency started to shift when he noticed the operations of Higginbotham, which has a presence in Wichita Falls.

“Shane Smith, the managing director right here, was my next-door neighbor. Our children had been the identical age, and we obtained alongside splendidly,” Barnard recalled. “It opened my eyes to the concept that possibly these huge companies aren’t so unhealthy in spite of everything. They’ve the identical targets and values that we do.”

This private connection, coupled with business tendencies and inner elements, corresponding to his uncle Invoice’s readiness to retire, led Barnard to rethink his stance.

“Perpetuation grew to become a difficulty, and it was simply one thing we wanted to have a look at,” Barnard mentioned.

Honoring a legacy whereas embracing change

Barnard has transitioned to being co-managing director of Higginbotham’s Wichita Falls department, together with Shane Smith. His uncle and former companion, Invoice Barnard, retired on March 1 and helps the staff transition over the subsequent 12 months and a half.

Barnard mentioned the merger with Higginbotham caused vital modifications, each operationally and culturally. One of the vital impactful shifts was the introduction of worker possession.

“It’s a singular likelihood for our workers to go from working for an insurance coverage company for an prolonged interval to now having possession,” he famous.

It has additionally created new avenues for proactive consumer engagement and enriched service choices. This proactive stance represents a departure from the normal reactive method, enabling the company to anticipate and handle consumer wants extra successfully.

“For the primary time, we could be proactive and introduce these [options] to our insureds, and it’s thrilling stuff,” mentioned Barnard. “We get to go in with the Higginbotham identify, after which we get to go in and shine and make of us conscious of our experience and have alternatives that we’ve by no means had earlier than.”

Reflecting on the choice, Barnard mentioned the largest change introduced by the partnership with Higginbotham was having a bigger staff to faucet for assist.

“We used to really feel like we had been on an island as Bernard Insurance coverage Company, the little man with a chip on our shoulder, all the time preventing for every little thing. That’s true from provider relationships to writing and servicing accounts. Now, we’re a part of a a lot bigger staff that every one works collectively,” he advised Insurance coverage Enterprise. “Small issues, like networking, make an enormous distinction.”

“Barnard Insurance coverage Group … has accounts which can be 60 years outdated, and a wall of their workplace that celebrates staff members who’ve been on board for 30 years or extra,” mentioned Reid in a press launch. 

“They’ve terrific relationships with insurance coverage carriers and irreplaceable experience within the power business. Better of all, we already know them and know we’re going to get pleasure from working with them.”

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