It has been a 12 months of celebration for Fort Wayne-based Okay&Okay Insurance, because it named a brand new CEO and president and marked an vital anniversary – and with some opponents leaving its markets, its huge 12 months additionally spells alternative.
The specialty sports activities, leisure, leisure and motorsports enterprise has now been catering to insurance coverage wants for 70 years and even has its personal official Okay&Okay Insurance Day.
“May is significant for K&K as five years ago on our 65th anniversary the City of Fort Wayne proclaimed May 10 K&K Insurance Day and the Indiana Senate officially recognized our significant contributions to the motorsports, sports and recreation insurance industry,” Okay&Okay CEO and president Ron Norton (pictured) instructed Insurance Business.
Norton, a 36-year Okay&Okay veteran, stepped into the CEO and president function in July when Todd Bixler, who had led the agency for 12 years, retired. With Norton’s promotion, Stephanie Waldron, previously SVP of occasions and points of interest on the Aon-owned enterprise, was named Okay&Okay chief underwriting officer.
Okay&Okay usually promotes from inside, Norton instructed Insurance Business, and workers are appreciative of the “opportunities for growth” that this presents. Meanwhile, its popularity as a long-term employer within the space makes it a vacation spot for native expertise.
Catering to purchasers throughout the US and Canada, Okay&Okay is targeted on offering a “consistent source” of protection and claims help for insurance coverage consumers and it achieves this via robust hyperlinks with insurer companions.
“We partner with several highly rated, financially sound, insurance companies so that we remain a stable marketplace for insurance agents and brokers,” Norton stated.
“The insurance company varies by program; because the coverage needs differ between, for example, a health club and a motorsports facility, we choose the best fit for the risk and the insurance companies with whom we partner.”
The enterprise boasts greater than 70 packages and up to date additions embody staff’ compensation protection for sports activities, leisure, recreation, and motorsports organizations.
Okay&Okay has seen “heightened interest” this 12 months in its campground, motorsports, well being membership, newbie sports activities, and vacationer attraction packages, “in part due to competitors leaving the market”, Norton stated, but additionally as a result of an easing of COVID disruption.
“COVID was certainly a disruptor for many of the organizations we insure and it’s safe to say we’re all happy to see sports and entertainment organizations thriving again,” Norton stated.
“While COVID was extremely challenging, our underwriters and claims experts understand the unusual risks our insureds experience and are always prepared to offer coverage and loss control solutions.”
The enterprise has continued so as to add new protection and capability to its present program companies because it targets double digit natural development and expects to launch a brand new program in 2023 – brokers and brokers ought to “stay tuned”, Norton stated.
Okay&Okay doesn’t impose quantity commitments for its agent companions.
“Our goal is to make it easy for licensed producers to place business with us,” Norton stated.
“No prior appointment or agreement is necessary to submit applications for a coverage quotation.”
Agents even have direct entry to underwriting workers, whereas its gross sales group goals to rapidly reply to new enterprise alternatives. One factor that Norton stated units the enterprise aside is its in-house claims workers.
“Their understanding of the unique risks and how the policies are written inherent to sports and recreation organizations allows K&K to provide timely and appropriate claims resolution service,” Norton stated.
Ron Norton has been within the insurance coverage enterprise for 36 years. As president and CEO at Okay&Okay Insurance, Norton’s aim is to proceed attaining double digit natural development whereas sustaining the profitability every of the 70 packages are at present attaining.