There are several ways to shop for insurance, and most consumers would prefer to spend their time doing something else. Understanding coverages can be complicated and stressful, and selecting the wrong coverage can leave consumers devastated in the event of an uncovered loss.
Insurance doesn’t have to be difficult or stressful, though. Brightway Insurance is a national property/casualty insurance distribution company that sells through local insurance experts who leave no stone unturned when advising their customers. With access to more insurance companies, Brightway Agents are able to build a package of policies customized to meet every customer’s unique needs. What’s more, customers need only one telephone number to reach Brightway’s awardwinning Customer Service Center.
Michael Miller, Brightway President and CEO, who co-founded the company with his brother, David Miller, Executive Chairman, sheds some light on the importance of selecting the right insurance policy and how the company is helping consumers choose the right package of policies, through an interview conducted with The Franchise Universe a Business Franchise magazine.
“Brightway provides everything you need to grow your Agency as fast as possible, including award-winning after-the-sale service.”
Below are the highlights of the interview:
Give us a brief overview of Brightway Insurance, and its journey since inception.
After running an independent insurance agency in Jacksonville, Florida, for five years, my brother, David, and I looked at what the insurance market offered consumers and asked the question, “What should be?” We determined that consumers would benefit from having a local agent who could provide expert counsel and choice from many different insurance brands and products.
We also determined that Agents could sell more policies if a dedicated Customer Service team handled customer service needs, so we invented the “You sell, we service” business model and began franchising in 2008. Since then, the business has evolved to provide holistic business support to franchisees, and we have grown to more than 300 locations in 25 states in the U.S. supporting the insurance needs of more than 300,000 customers coast-to-coast.
As a business leader, what is your opinion on the impact of the current pandemic on the Insurance and franchise industry?
We are a recession-proof business, so while many other businesses suffered during the pandemic, we were able to grow and prosper. In fact, the average pre-tax operating profit for the top 25% of Brightway Agencies open for at least five years grew by more than 25% in 2020, and these top 25% Brightway Agencies averaged over $1 million in revenue in 2020. *
Insurance is an essential product that everyone needs regardless of economic conditions. Like many businesses, the pandemic certainly changed the way we work. Many of us who previously worked in the office every day are now working remotely on a full-time or part-time basis.
Being flexible and open to new ways of doing business helped us grow during the recession.
What is your opinion on the necessity for businesses to align their offerings with newer technological developments, especially when it comes Digital Transformation?
As more and more consumers come to rely on technology to meet their everyday needs, it makes sense that businesses adapt to provide not only what customers already expect, but more importantly that we work aggressively to lean forward and get ahead of them so we can exceed their expectations.
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