Host Jeremy C. Park talks with Jay Harvill, Managing Director and Office Lead in Middle Tennessee for Higginbotham Insurance, who discusses the company’s growth and unique culture, along with some of the insurance industry trends and innovative solutions being brought to market. During the interview, Jay explains that Higginbotham Insurance and Financial Services, a privately held employee-owned firm, has nearly tripled in size over the past five years and is now one of the top 20 brokers in the country. Jay highlights the company’s focus on property and casualty insurance for businesses, large group benefits for employers, and personal lines and specialty planning, while emphasizing their commitment to being a partner that helps clients think about their company’s future and minimize risk.
Higginbotham’s Core Values in Action
Jay shares his perspective on the importance of core values in business, highlighting Higginbotham’s commitment to living its values through actions like community involvement and employee engagement. He describes how Higginbotham actively embodies its core values of being family to employees, accountable to clients, teammates to carriers, and generous to communities. Jeremy acknowledges Higginbotham’s leadership in initiatives like the Kids Dental Day and Shoe Distribution event, emphasizing the company’s role in creating events and efforts that support the community. Jay follows up discussing the Higginbotham Community Fund, where employees contribute personally and then are able to request grants to nonprofits in their communities, which has resulted in many millions of dollars of donations.
Enhancing Client and Community Value
Jay also discusses how the company supports nonprofits in local communities through employee connections and board service, which enhances employee pride and client accountability. He explains their role as an insurance broker, emphasizing their partnership approach with carriers and the importance of building strong relationships to better serve clients. Jay highlights that while they don’t work for insurance companies, they act as their sales force and focus on strengthening the relationships by organizing events, sitting on advisory boards, and providing value to carriers, which helps in negotiating better deals for clients.
Insurance Industry Trends and Solutions
Jeremy and Jay then discuss current trends in the insurance industry, noting a recent stabilization after significant increases in pricing and coverage limitations over the years. Jay explains that while the industry faces ongoing challenges from natural disasters and cyber risks, they have developed new solutions like deductible buyback programs and micro captives to help businesses manage their insurance costs and risks more effectively.
Innovative Insurance and Community Engagement
Jay provides more context around some of the innovative insurance solutions, including micro captives and cyber programs, emphasizing Higginbotham’s commitment to addressing client risks and providing comprehensive support. He highlights the importance of community engagement, stating that involvement in nonprofits and mentoring young producers not only improves communities but also fosters personal and professional growth. Jay encourages others to find meaningful ways to contribute to their communities, noting that collective efforts lead to broader societal benefits. He concludes by inviting listeners to learn more about Higginbotham Insurance through their website and social media presence.
Visit https://www.higginbotham.com to learn more about Higginbotham Insurance and Financial Services.
