How Twain Insurance coverage to ship “the expertise of tomorrow with the service of yesterday”

A brand new property and casualty insurance coverage company goals to ship complete and high-touch insurance coverage providers with “the expertise of tomorrow.”

Launched in January 2024, Twain Insurance coverage Company is the fruit of a partnership between a gaggle of producers led by John Lawrence, Tom Davis, and Griffin Wilson and personal fairness agency Twain Capital.

Lawrence (pictured), who heads up the Mississippi-based company as president, spoke to Insurance coverage Enterprise in regards to the enterprise.

“We at all times thought it will be a logical step for us,” he stated.

Twain Insurance coverage will deal with middle-market companies, specializing in actual property, development (together with surety), power, healthcare, waste, monetary, distribution, manufacturing, non-profit, and training.

Returning to a ‘client-focused’ service ethos

Earlier than beginning Twain Insurance coverage, the trio helped set up the mid-Atlantic workplace for Industrial Insurance coverage Associates (CIA), an unbiased P&C brokerage with places of work in Tennessee, Maryland, and South Carolina.

Based on Lawrence, their imaginative and prescient for a brand new insurance coverage company – one which returned to the “tradition of client-focused service” – aligned with that of Twain Capital’s.

“We wished to take care of a boutique, high-touch really feel with our shoppers,” he stated. “They know our households, we all know theirs, they name us and may get us on the telephone instantly.”

However Lawrence additionally acknowledged that insurance coverage might now not fall behind the altering instances. He envisioned Twain Insurance coverage being pushed by each cutting-edge expertise and shopper relationships.

“We all know that instances are altering with all of the totally different expertise that’s coming, and we need to be sure that we’re adapting,” Lawrence stated.

“Insurance coverage has been one of many final movers on the expertise entrance, however it’s a transfer that may occur, a shift to be extra technology-driven. We need to be sure that we’re doing that to have the ability to assist our shoppers.”

Producer-led insurance coverage company

One other function that makes Twain Insurance coverage stand out available in the market is its flat organizational construction. The company goals to empower its producers by eschewing the normal company hierarchy.

Lawrence noticed that some organizations had too many layers of center administration that had been hampering effectivity and efficiency, as a substitute of boosting it.

“You bought to listen to about issues three or 4 totally different instances from a boss, then from a boss’s boss,” he stated.

“Our viewpoint has at all times been that in case you put high quality individuals into the proper positions, they don’t want these extra layers of administration to succeed. We are able to use these extra assets to supply extra providers to our shoppers.”

Delivering extra worth to the middle-market section is on the coronary heart of Twain Insurance coverage, Lawrence stated.

“Center to large-middle market is our area of interest, and we really feel it’s a little bit bit underserved within the market proper now,” he stated. “It’s a candy spot the place we will actually excel, the place individuals do need the high-touch service and professionalism of a big insurance coverage program, however they need the service mannequin of a smaller company.”

What’s subsequent for Twain Insurance coverage Company?

Twain Insurance coverage has hit the bottom operating with an in depth record of shoppers and provider relationships throughout the nation.

Over the subsequent few months, the crew will deal with crafting a progress framework, attracting extra producers, and constructing its guide of enterprise with shoppers and carriers.

“It’s been a really enjoyable and thrilling first few weeks,” Lawrence stated. “We glance to rising not solely organically, however we’re additionally speaking to extra producers within the market which might be intrigued by the flat hierarchy that we’re going for and possibly disillusioned with their present state of affairs and relationships within the market.”

The company can also be trying to department out from its current bases in Maryland, Virginia, DC, Delaware, and Pennsylvania.

“We undoubtedly wish to broaden, however we’re searching for the precise individuals,” Lawrence stated. “The 2 areas we glance to develop out are the DMV (District of Maryland, Maryland and Virginia) space in addition to Mississippi. However I feel our preliminary purpose is [to get] the precise individual, no matter the place they sit. That’s extra vital to us.”

Lawrence additionally addressed the partnership with Twain Capital. He stated that the place most non-public fairness corporations see a time horizon for his or her return on funding between 5 to seven years, Twain Capital helps Twain Insurance coverage’s longer-term ambitions.

“Twain Capital needs to be the antithesis. They’re searching for extra of an extended, possibly 10-to-15-year horizon for his or her portfolio firms, so it’s a a lot totally different expertise,” Lawrence stated.

“We didn’t need non-public fairness that was simply trying on the backside line in any respect factors. We need to construct one thing sustainable for plenty of years. Twain is absolutely supportive of that imaginative and prescient as a result of it’s a mutual imaginative and prescient.”

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