Since CIG Insurance was founded in 2003, it has increased its revenue annually by double digits.
“Even through recession,” said Chock Chapple, a founder and owner of the 24-employee commercial insurance brokerage, “which is rare, especially with the fact that we haven’t purchased anyone or a book of business.”
The company is an independent agency providing commercial property and casualty insurance and, in limited instances, personal lines of insurance for executives and business owners.
“It is the hard work we put in,” Lance Spence, CIG president, said of the primary driver of the company’s growth. “It is the aggressiveness with which we go out and build relationships in the community.”
The company mostly serves family owned or privately held businesses, ranging from one to 1,000 employees, Chapple said. Its clientele operate in a variety of industries, such as construction, energy, wholesale, nonprofit, health care and retail.
The effects of the recession have pushed the company to target other sectors, including manufacturing, investment property managers and public school districts, Chapple and Spence said.
As CIG’s business has grown, it has added more insurance carriers, which Chapple said enables the firm to offer clients and potential clients more options when choosing what kind of coverage they want and need.
“You get the better underwriters, access to more insurance programs, which help you service your clients better,” Chapple said.
As part of the company’s strategic planning, it has begun to target other areas of expansion, such as employee benefits and risk management advising, either on its own or in partnership with other firms.
“One source, one solution, we’re trying to be that to our customers,” Spence said.
Chapple said the company also spends a lot of money to keep its employees trained and to ensure they have access to the latest technology.
Brent Wasson joined the company nine years ago. Now a senior vice president for CIG, Wasson said there is a family atmosphere at CIG and a culture that requires its employees to do the right thing for clients.
“When you talk about our growth and how we do it, it’s just being morally and ethically right for our customers,” Wasson said.