After 6 years of corporate accounting, opening a Farmers Insurance agency in '91, a State Farm agency in '09, and then an independent agency in 2010, I was convinced there simply had to be a better way for consumers to buy auto & home insurance.
A few months after leaving my role at State Farm as captive insurance agent, I founded Fulcrum Insurance Center in Summer 2010 on the premise that personal insurance products are highly regulated and therefore mostly generic, while customer service is largely personal and not quite measurable. As such, for turning prospects into customers, what gives is the price. Why else would insurers’ ads overwhelmingly stress discounts and savings (though agents are schooled to sell value or service)? Since insurance retailing is by and large a zero sum game, we must win customers away from others before we can keep their renewals.
Two years after Fulcrum wrote its first policy, my agency's earned commissions for P&C alone surpassed $760,000 for the subsequent 12 months (ending July 2013).