The making of Moores Insurance Management
At Moores Insurance Management, a great business starts with a knowledgeable team. With 38 years in business, the St. Paul independent agency and brokerage has built just that. Mark Moores founded the agency in 1980. Since then, he has created a deeply experienced organization, placing an emphasis on education to make Moores Insurance Management stand out.
“There are a lot of fine agencies out there,” Mark explains, but he believes that the way Moores Insurance Management masters the details of insurance allows them to truly serve clients. One area of focus is professional development. Mark and his son Jack, a Risk Advisor at Moores Insurance Management, each hold designations as Chartered Property and Casualty Underwriters (CPCU), Associates in Risk Management (ARM) and Accredited Advisers in Insurance (AAI). Less than 1% of insurance professionals hold all three credentials, but the team at Moores believes that designations such as these help them truly master their business and offer a differentiated level of service.
“To be able to assess risks for clients, you have to start by really understanding what the product can and can’t do. Only then can you can create a program that responds to their areas of need,” Mark explains. “That’s where we shine.”
A family affair
For Mark and Jack Moores, the insurance business runs in the family. Mark’s father was a life insurance agent, and today Mark and his son work side-by-side in the property casualty firm. In fact, both Mark and Jack were named Young Agents of the Year early on in their careers by the Minnesota Independent Insurance Agents and Brokers Association (in 1992 and 2016, respectively).
The father-son duo is quick to bounce ideas off of one another. So, how did Moores Insurance Management get its start? “Do you want to tell the address book story?” Jack asks his father. “No. Oh, well all right,” Mark chuckles.
Mark, resourceful and business-minded from a young age, worked in college as a security guard at The University of Minnesota’s athletic center. He met hundreds of people, and shortly before graduation had an idea to put his network to work. At the university bookstore, he purchased an address book. As Mark signed people in at work, he would introduce himself, explain his career plans and take down their information. After graduating, he called many of the people he had met—650 of them, in fact. Many of those who knew the industrious Mark were quickly interested in working with him as their insurance agent. “Some of those people are still our clients today,” he adds. You could say Mark was running a social network for business, well before LinkedIn.
Today the agency’s growth is fueled by referrals from a strong network of satisfied clients.
Management with a capital M
Jack explains just how important it is to take an in-depth approach with clients. “The insurance business is a detail business,” he explains.
That starts with the very first touchpoint. “We do a thorough onboarding analysis for every new client,” he notes. While it takes time, it’s important to make sure each client has a consistent experience and that the team takes a 360-degree view. At Moores Insurance Management, the word “Management” is key. “We want to create programs that respond when called upon,” Jack explains.
Mark goes on to say that one of their biggest roles as agents is to help educate the client on what they have (or don’t have) when it comes to coverage. “Our approach is simple,” he starts. “We educate the client on what their exposures and needs are, inform them on what’s available in the marketplace and compare it to what they currently have. We don’t sell, we inform. Normally, that information arms them to make the right decision for them.”
For personal insurance clients, that might mean understanding some of their more complex exposures. If clients own property in the name of a Trust or LLC, for instance, it’s important to make sure their insurance program recognizes that entity. For those with property in a different state, Moores might help them understand the insurance implications of different state laws. “We work hard to optimize clients’ coverage,” Jack adds.
The informative, non-sales approach at Moores not only helps guide clients, but also helps ensure the agency’s success.
“We want to make sure the client wins,” says Mark.
An exciting time
First and foremost, Mark and Jack make it their goal to be an advocate for clients. “We wouldn’t be doing our job if we weren’t monitoring the marketplace and making sure we can bring as many solutions as possible to the table,” Mark explains. So when Moores Insurance learned that Berkley One, a new personal insurance provider and a member company of Berkley, was launching in Minnesota, it’s not surprising that the team dove right in to understand Berkley One’s products and the solutions they could offer for clients.
“We’re excited about the relationship, and the products that Berkley One is offering,” says Mark. In addition to homeowners, auto, collectibles, and excess liability insurance, Berkley One has plans to offer their innovative annual travel plan in additional states. “Our customers are looking for more experiences, and that means an increase in travel,” he notes. Another area of interest is Berkley One’s cyber coverage. Mark explains that this past year, the agency has seen more cyber claims than fires. “Cyber coverage is becoming a need-to-have,” he explains.
One thing is certain in insurance: that the needs of individuals and the risks they face are changing and will continue to do so. “This industry is always exciting,” says Jack with a smile. After nearly forty years in the business, Mark is as excited as ever about comes next for Moores Insurance Management. “We have a pretty unique model, and we’re excited about the future,” he explains.
Moores Insurance Management offers Business Insurance, Personal Insurance, and Consultation and Risk Management Services. The agency is based in St. Paul, Minnesota.