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California Insurance Agency Paves Their Own Way Through Steady M&As in the Insurance Industry
News provided byEIN Presswire
Jan 25, 2023, 3:05 PM ET
Independent Insurance Agency in California Purchases Second Generation Family Ran Insurance Agency.
There are many changes in process that will affect how insurance is bought & sold, we want to make sure that insurance buyers get the coverages they need at a good price, without any claim hassles.”LOS ANGELES, CA, USA, January 25, 2023 /EINPresswire.com/ -- When KOVR [pronounced cover] principal, Dave Nelson, sold the insurance agency he built after 35 years in the business, he had high hopes. He knew the challenges independent insurance agencies faced utilizing the latest technologies and strategies to grow their business. “I was excited about what a larger company with more resources could do for both my employees and clients.”
— Stephanie Michele, KOVR CEO
After carrying out his work commitment and covenant not to compete, Dave’s hopes were dashed. “It did not take much time to realize the company that purchased mine was not at all focused on providing better opportunities for my employees or better service for my customers.” Understandably like many big M&A players, they were focused on adding revenue to a spreadsheet. New systems and improvements did not occur or were planned for "later". Dave was not expecting to see long time employees frustrated and moving on and noticed many clients were not getting the dedicated service they were used to.
Not quite ready to retire, Dave reached out to long-term business colleague to birth the boutique agency of the future. With partner Stephanie Michele, KOVR Insurance was created in 2020 with a commitment to optimize the best systems and strategies that equally support insurance agents and customers.
“There are many changes in process that will affect how insurance is bought and sold,” says Stephanie. “We just want to make sure that opportunities for insurance professionals remain and insurance buyers get the products and coverage they need at a good price, without any claim hassles.”
After a challenging start during the pandemic, KOVR remains true to their values as they grow. In January 2023, KOVR purchase Retsky Insurance Agency, Inc. in Woodland Hills, CA. With this purchase, KOVR adds Medicare insurance services to their full-service agency. “When we met Adam Retsky, we knew we shared similar values for customer service and we felt his clients would appreciate how we do business,” says Stephanie.
By purchasing Retsky Insurance, KOVR insurance joins a small but elite group of independent national agencies that can help insurance buyers with every type of insurance product they need. “Most agencies will either focus on personal lines (auto & home) or commercial insurance, but they rarely do both of these things plus life and health,” says Dave.
“We hope that by having a full range of insurance products with the best trained agents and efficient underwriting systems and tools, we make insurance buying pleasant for the customer and inspire boutique insurance agency owners to explore all of their options before selling their agency to the “big guys.”
KOVR Insurance Services is a full-service insurance agency offering customers best-in-class service and carriers. KOVR employs personable and experienced agents that help insurance buyers make the most informed decisions about auto, home, life, flood, earthquake, commercial, cyber, Medicare services, and group benefits insurance. KOVR never charges a broker fee and uses the latest technology to meet customers where they are to make the process of buying insurance work for them.
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