How Twain Insurance plans 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 technology of tomorrow.”

Launched in January 2024, Twain Insurance Agency 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 Business in regards to the enterprise.

“We always thought it would be a logical step for us,” he stated.

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

Returning to a ‘client-focused’ service ethos

Before beginning Twain Insurance, the trio helped set up the mid-Atlantic workplace for Commercial Insurance Associates (CIA), an unbiased P&C brokerage with workplaces in Tennessee, Maryland, and South Carolina.

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

“We wanted to maintain a boutique, high-touch feel with our clients,” he stated. “They know our families, we know theirs, they call us and can get us on the phone immediately.”

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

“We know that times are changing with all the different technology that’s coming, and we want to make sure that we are adapting,” Lawrence stated.

“Insurance has been one of the last movers on the technology front, but it is a move that will happen, a shift to be more technology-driven. We want to make sure that we are doing that to be able to help our clients.”

Producer-led insurance coverage company

Another function that makes Twain Insurance stand out out there is its flat organizational construction. The company goals to empower its producers by eschewing the standard company hierarchy.

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

“You got to hear about things three or four different times from a boss, then from a boss’s boss,” he stated.

“Our viewpoint has always been that if you put quality people into the correct positions, they do not need those additional layers of management to succeed. We can use those additional resources to provide more services to our clients.”

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

“Middle to large-middle market is our niche, and we feel it’s a little bit underserved in the marketplace right now,” he stated. “It’s a sweet spot where we can really excel, where people do want the high-touch service and professionalism of a large insurance program, but they want the service model of a smaller agency.”

What’s subsequent for Twain Insurance Agency?

Twain Insurance has hit the bottom working with an intensive listing of purchasers and service relationships throughout the nation.

Over the following few months, the workforce will give attention to crafting a progress framework, attracting further producers, and constructing its e-book of enterprise with purchasers and carriers.

“It’s been a very fun and exciting first few weeks,” Lawrence stated. “We look to growing not only organically, but we are also talking to additional producers in the marketplace that are intrigued by the flat hierarchy that we are going for and maybe disillusioned with their current situation and relationships in the marketplace.”

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

“We definitely are looking to expand, but we’re looking for the right people,” Lawrence stated. “The two areas we look to grow out are the DMV (District of Maryland, Maryland and Virginia) area as well as Mississippi. But I think our initial goal is [to get] the right person, regardless of where they sit. That’s more important to us.”

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

“Twain Capital wants to be the antithesis. They are looking for more of a longer, maybe 10-to-15-year horizon for their portfolio companies, so it’s a much different experience,” Lawrence stated.

“We did not want private equity that was just looking at the bottom line at all points. We want to build something sustainable for a number of years. Twain is fully supportive of that vision because it’s a mutual vision.”

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