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‭(Hidden)‬ Catalog-Item Reuse

A Teachable Moment

Two decades ago, Mark Matrone was on track to be a principal—the teaching kind, not the insurance kind. He may not be teaching fourth grade any longer, but in some respects, he’s back in class.
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Two decades ago, Mark Matrone was on track to be a principal—the teaching kind, not the insurance kind. He may not be teaching fourth grade any longer, but in some respects, he’s back in class.

Matrone’s mentoring and school-to-work program has brought his New England agency high-quality new talent over the years.

Steeped in a rich history that spans three centuries, Bristol, R.I., is a quintessential New England waterfront town. The community seamlessly blends outdoor beauty with cultural pleasures. It is here that John Andrade first established an agency in 1935, and where the John Andrade Agency remains today, passing through three generations to Jane Andrade and her husband, Mark Matrone.

While Matrone assumed the role of president and CEO in 1999, managing an insurance business wasn’t exactly his childhood dream. “My dream job was to follow my father into teaching,” he recalls. “I loved his lifestyle. He came home early and was always around with his five children while my mom worked the 3:00 to 11:00 shift as a nurse.”

Then, Matrone “re-met” his wife-to-be and everything changed. He and Jane Andrade were childhood friends. Matrone played Little League Baseball with her brother, Billy Andrade, while she hung out with Matrone’s sister. Matrone and Jane Andrade went to different colleges—he migrated to Washington, D.C., after graduating from Boston College and she graduated from Georgetown University and then became a nurse at Georgetown Hospital. After reconnecting years later, the couple married.

Teaching Moment
Not long after that, Matrone received a call from his father-in-law, who popped another life-changing question. Matrone says he was looking for a change after five years of teaching fourth grade in the metro D.C. area and working on a master’s to become a school principal. Perfect timing, as his father-in-law asked Matrone to join the agency.

Matrone took a leap of faith and a leave of absence from teaching. “Making this decision to enter the business was great for two major reasons,” he says. “One, it was my ticket to come back home with our families. And two, I could earn a living based on effort versus time spent in a career.”

The original plan had been to transition the agency to the next generation, which consisted of Jane Andrade-Matrone and Billy Andrade. But Billy Andrade, who’s been featured in the top 50 of the Official World Golf Rankings, wanted to pursue golf as a career. He decided to sell his agency shares and went on to capture four wins on the PGA Tour.

School Connection
Matrone, now 49, started his internship program with a local Bristol high school about 12 years ago. The school was looking for a way to connect students with the working world, and Matrone was the first to raise his hand.

“My first intern, Christina Vieira, is working at the agency full time now as a CSR in personal lines,” he says. “She started with us on a part-time basis during high school and grew to love the business.”

Interns spend time at the agency, shadowing producers who are immersed in all aspects of the business. “Once they learn our systems, they are very productive and helpful to our staff—and, in some cases, teach our staff new technology tricks,” says Matrone.

Interns can use the learning experience as a springboard for growth during their high school and college years, or they can decide to stay on long-term, Matrone says. “We make no commitments, but we let them know that if we’re interested, we can give them more hours and responsibility,” he says. “We let them know there are people who are close to retiring or we may need additional people due to growth.”

“The program has been a win-win,” says Matrone. “I can attract young talent and fulfill my void from leaving teaching while giving back to our community.”

Balancing Act
As marketing and insurance issues have changed over the years, some things have remained the same. The average tenure at John Andrade insurance is 12 years. Matrone explains that it’s because they balance life and fun—but not in the traditional way.

“We all spend a lot of time at work,” says Matrone. “You have to create an atmosphere that is enjoyable, and that people want to be a part of. If an employee enjoys their work, they typically go home happy. If they are happy at home, they typically come to the office happy and enjoy a productive day. If those two areas of a person’s life aren’t balanced, then it’s time to make a change.”

The balance Matrone describes is discussed candidly through an open-door policy. “Employees respect the model, and given that Patricia Malafronte, our receptionist, has been employed by the agency since 1963, I would dare to say the concept works,” he says.

Tech Focus
Some 23 years later, Matrone still is excited about his career change. “It’s been wonderful, very rewarding,” he says. “While the economy takes a pounding, efficiency and technology have been the key in allowing us the agility to meet changing market conditions.

“My philosophy is that if you want to grow, you can’t do that with the same tools that got you to where you are today,” says Matrone. “We observed a shift in consumer behavior and knew we needed to find new, more efficient ways of generating leads and servicing our clients.”

By engaging in a more aggressive use of technology, the agency started to see significant results. “It started out as an attempt at frontline workflow and efficiency,” Matrone says. “But then we saw that we had more opportunities for serving clients, more time for sales and growth. We have increased productivity, allowing us to better—and faster—service our clients, whenever and wherever they need it.”

Wide Range
“I look at a new producer as a nucleus for a new business,” says Matrone. “I’m close to 50, and my acquaintances are 50-year-olds. If I hire producers of various ages, I reach various audiences. As such, I have producers ranging from 26 to those in their late 50s.

“I hire hoping for the best and looking for people who have positive attitudes that resonate with our employees and customers. The culture becomes infectious and hopefully we continue our success for the next 77 years.”

The next challenge, Matrone adds, “is to find the right individual to manage the process after I decide it’s time. I would like to travel more and not have to worry about office issues while [I’m] away. That time seems to be coming faster than I can control.”

Van Aartrijk (peter@aartrijk.com) is an IA contributing editor.

What We Learned

Agency principal Mark Matrone says he’s struggled with hiring younger producers, who obviously are different “students” than those filling entry-level service jobs.

“I have hired some younger producers with some experience and some with no p-c experience,” he says. “About two hires ago, I made the mistake in hiring a producer from another agency who talked his way into the job. I was in a growth mode and didn’t do my due diligence. That hire fortunately left and became some other agency’s issue.

“After that experience, I vowed to hire [on] personality and presentation and not on prior insurance experience,” he says. “I decided that my staff and I were going to teach these young producers the insurance piece by shadowing producers and CSRs, and then classroom instruction. We also have the luxury of a pre-licensing school that gets them prepared within a week to sit for the state exam.

“We hire, teach and allow them to work on live prospects as part of their learning process with the senior staff. I then say my prayers that they will pass the state exam on the first try.”

—P.V.


Around for the Long Haul
Despite the tough economy, Matrone says there is increasing pressure for agencies to grow through acquisition. But his firm has survived and grown, he says, by sticking to the business it knows, while avoiding the temptation to grow too quickly.

“There’s a demand for higher contingencies and an expectation that agency owners will swallow others for quick cash,” says Matrone. “To me, purchasing another agency is like purchasing an unknown. You’re purchasing new clients and expecting the existing staff to continue to provide the highest level of service to old and new customers alike.

“We do it a little differently,” he adds. “We adopt new clients while watching expenses and revenue. The results are positive for both our clients and employees.”

—P.V.

11379
Tuesday, June 2, 2020
Perpetuation & Valuation