We were lucky to catch up with Shannon Hope recently and have shared our conversation below.

Alright, Shannon thanks for taking the time to share your stories and insights with us today. We’d love to hear about the early days of establishing your own firm. What can you share?

My grandfather started an aviation insurance only brokerage firm in 1963 after a tenure in general lines insurance that morphed when he gained his pilot certificate and purchased a small aircraft. My father, uncle and aunt joined the firm upon graduating college and so did I, in mirror fashion. I always imagined taking the reins of the business as the third generation as the second generation had. Unfortunately, after 13 years of working hand in hand with my family it became clearly apparent that dream was not going to come to fruition. The business was sold to a large insurance conglomerate. I felt a strong desire to carry forward the flag my grandfather planted in the ground and the thought of being employee number 10,204 was unattractive coming from the family business I grew up in. I worked out a deal with my family, buying my client book and launching my own firm, establishing Kassel Aviation Insurance in June of 2017.

The most daunting task was getting the business up and running. Everything from selecting and learning the insurance agency management software system, forming the LLC, nailing down the name of the firm, engaging different vendors for a variety of things like phone systems, accounting, state licensing, searching for employees and countless other tasks took an enormous amount of time and effort. At the time I started the firm I had a one-year-old and four-year-old at home. For the first year, I saw them very little.

There isn’t anything I would have done differently but I underestimated how much time and energy it would take to get the business on plane. This would be the advice I would give a young professional who might be starting their own business. The reward can be great but so is the sacrifice to achieve the reward.

Great, appreciate you sharing that with us. Before we ask you to share more of your insights, can you take a moment to introduce yourself and how you got to where you are today to our readers.

I am a third-generation pilot and aviation insurance broker. Within the aviation insurance sector, our firm specializes in corporate and commercial aviation specifically. We handle anything from owner flown light-turbine aircraft to large commercial aircraft fleets. While we work with risk management officers at corporations that own jets to help them explain the unique aspects and nuances of aviation insurance, our commercial operator clients are essentially small to large businesses that operate solely in the aviation space. To those firms, we are their insurance and risk management department. We pride ourselves on proactive, quick service with a deft, guiding hand. The bar to entry in aviation insurance is very low. Anyone that can pass a property and casualty insurance license exam can too be an aviation insurance broker. Every aviation insurance company has their own unique policy form and endorsements so coverage can vary greatly. Low price is seldom the best option due to this factor. A deep understanding of the market is required to help owners make an educated decision.

Where do you think you get most of your clients from?

Referrals. We experimented with digital advertising and quickly realized it was not a good fit for our firm as we really have a niche within the aviation insurance industry. The leads we were getting were predominantly light aircraft owners who were upset their rates were going up as they got older. Most people when they are purchasing a high specialized product or service ask for a reference from their peers, which is exactly where we find the most success.

Do you have any insights you can share related to maintaining high team morale?

People tend to overcomplicate this in my opinion. Take care of people, follow the golden rule and your employees will feel appreciated and cared for. The mentality of many businesses today seems to be that employees are replaceable and to pile as much work as you can on them until they get to a breaking point in order to maximize profits. I would rather treat people well and be accused of being too generous than sitting on the opposite side of the spectrum in the name of profit.

Contact Info:

• Website: https://kasselaviation.com/
• Instagram: https://www.instagram.com/kasselaviationins/
• Facebook: https://www.facebook.com/kasselaviation/

Image Credits
Shannon Hope