From the Front Lines: Commercial Auto
Blake West
Producer
Peak Insurance Inc.
Birmingham, Alabama
How did you get started at your agency?
I had been in the business for about a year, working for a large broker. When the leadership team at Peak Insurance was looking to expand into another market, it offered me the chance to open a Peak Insurance office in Birmingham, Alabama. The reality is that the independent agent channel presents an incredible opportunity for individuals who are ready for a challenge.
Why transportation insurance?
I began my insurance career at a large independent broker that wrote almost everything under the sun. Starting as a new producer with no prior experience in the industry was challenging. About six months into my career, I was blessed to have two mentors who introduced me to the transportation industry. They allowed me to ride along on sales calls and ask questions—an invaluable experience. The transportation niche gave me a focus and allowed me to channel my efforts in one direction. I quickly fell in love with the industry and enjoy showing up every day to advocate for my clients.
Challenges in the market?
On the carrier side, issues such as legal system abuse—including third-party litigation funding and opportunistic fraud—have created a tough environment for insurers to remain profitable. Transportation companies also face their own set of difficulties. Soft freight rates have made it hard for companies to keep up with rising operating costs, such as increasing insurance premiums, maintenance expenses and regulatory compliance at both the state and federal levels.
Future trends?
I see telematics and cameras—both driver-facing and outward-facing—playing a much larger role in the future. Some insurance carriers are already using telematics in underwriting, while others incorporate it into ongoing risk management. At its core, telematics measures operational and driver behavior, which is invaluable data for underwriting and managing risk throughout the policy term.
Advice for a fellow agent?
Be ready for a fast-paced environment. The transportation insurance niche is highly competitive. Insurance carriers frequently enter and exit the transportation market, so it’s important to align yourself with the most reputable and stable carriers. Also, be prepared for the unique servicing needs of transportation clients, especially certificate handling, claims management and regulatory filings at both the state and federal levels.
Olivia Overman is IA content editor.
