We were lucky to catch up with Jessica Loomis recently and have shared our conversation below.
Jessica, thanks for taking the time to share your stories with us today We’d love to start by getting your thoughts on what you are seeing as some the biggest trends emerging in your industry
Currently the insurance market is entering into a hard market. We are seeing massive increases to insurance rates due to weather rated losses and inflation. The Personal Lines Market which is Home/Auto appears to be most affected with Home Insurance rates increasing anywhere from 30 to 50 Percent. We are seeing insurance carriers exiting states, non-renewing entire books and exiting the market all together. In my opinion it will take a couple of years to see a stabilization in pricing. This is something I haven’t seen in the 25 years I have been in this industry. Insurance is becoming unaffordable in some instances. A Single mom that owns a home and a car may not be able to afford her home and auto insurance going up $100 a month.
Jessica, love having you share your insights with us. Before we ask you more questions, maybe you can take a moment to introduce yourself to our readers who might have missed our earlier conversations?
Infinity Insurance Partners focuses on insurance for Business’s. We work with the business owner to understand their needs and build an insurance program around them.
Can you open up about how you funded your business?
10 years ago I was fed up with the corporate dynamic in the insurance industry. I took $40,000 out of my 401K and started my business. It was the scariest thing I had done up until than.
Any stories or insights that might help us understand how you’ve built such a strong reputation?
Answering my phone. I still hear that today. So many businessowners need you to be reachable when they need something. I have 12 employees and have built a great business but I still answer my phone when my clients or prospects call.
Contact Info:
- Website: www.infinityinsurancepartners.com
- Facebook: www.facebook.com/infinityinsurancepartners.com
- Linkedin: https://www.linkedin.com/in/jessicaloomis/
- Twitter: @Comms_Ins_Advice
- Other: linkedin company page – https://www.linkedin.com/company/infinity-insurance-partners