Pete Covill joins us from Humphrey, Covill & Coleman Insurance Agency in New Bedford, Massachusetts. He is a third-generation agency owner shared with his sister Lisa Covill Gibson. Pete shares with us the transition from his agency to a digital one, the implementation of technology and how they have advanced in the flood insurance market in 6 New England states.
Episode Highlights:
Pete mentions that HCC Insurance specializes in personal and commercial flood insurance, with a focus on educating clients and providing personalized service. (11:33)
Pete shares that during the late 80s and early 90s, Massachusetts faced challenges with auto insurance, but one company managed to align itself strategically and emerged as the dominant player with a significant market share. (20:37)
Pete discusses the transition from physical file cabinets to digital storage, highlighting the efficiency and convenience of scanning and organizing documents electronically. (25:31)
Pete discusses his experience with various technology solutions in the insurance agency industry, including Applied Epic, Agency Revolution, and ePayPolicy. (34:43)
Pete mentions that he is open to learning from industry leaders and tries to emulate their success while also sharing their own knowledge with others, particularly young entrepreneurs. (40:00)
Pete discusses the success of using Google ads and automation to efficiently handle insurance inquiries and provide personalized service to clients. (45:23)
Key Quotes:
“We had to get rid of those file cabinets. Today, everything is digital. Everything is sent PDF through Formstack for a signature and paid online and we're in the middle of a course with agency performance partners.” - Pete Covill
“There are several people in our industry that I look up to and just try and emulate what they do and try and take in as much as I can. And at the same time, I try and share my knowledge and for the over the 40 years to other people. ” - Pete Covill
Resources Mentioned:
Pete Covill LinkedIn
Humphrey, Covill & Coleman Insurance Agency
Reach out to Dave Jackson
Independent Agency Owners Alliance | IAOA
