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Agency Profile: Pritchett-Moore

Lin Moore was introduced to Big “I" Best Practices and sought out the program's guidance on strategic changes to “drive profitability, create a vision and convey that vision to our associates," Moore says. “We wanted to move forward, and Best Practices knew the way."
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Dec_AgencyProfile.jpgPritchett-Moore

Tuscaloosa, Alabama

Founded: 1934

Employees: 28

When the Cincinnati Insurance Company started its Leadership Institute program in 2017, Pritchett-Moore CEO Lin Moore's interest was piqued by the two-year course designed to guide agencies that wanted to remain independent. As the leader of a third-generation family agency bombarded by weekly calls proposing mergers or acquisitions, Moore wanted to do all he could to keep Pritchett-Moore an independent agency.

During the course, Moore was introduced to Big “I" Best Practices and sought out the program's guidance on strategic changes to “drive profitability, create a vision and convey that vision to our associates," he says. “We wanted to move forward, and Best Practices knew the way."

Recipients of the Best Practices Agency designation two years in a row, Pritchett-Moore has propelled itself through double-digit growth with a premium target of over $30 million in 2020 and aims to cross the threshold to $5 million in revenues in the next two years.

Tom Bonhaus, Secretary Treasurer

What impressed me about Pritchett-Moore when I first came into contact with them back in the early '90s was the team atmosphere. In many agencies, you're a lone wolf. Here, we work with producers to develop them and always try to help each other out. We've created a very positive environment, and we have many young producers that are coming along very well.

With the coronavirus, many of the businesses we serve are struggling, and we do our best to help them stay afloat. We've rearranged the exposures on their policies, notably general liability and liquor liability since their sales are going to be down for the year, and we don't want them paying for something they won't be using. We want them to know that we're on their side and we're pulling for them to come through.

Lin Moore, CEO

Our goal toward that next tier of agency valuation is to take our clients' carrier choices to the next level. We are very selective about the carriers we partner with. We don't want just a plaque on the wall. We've got good carrier partners so we can compete on virtually any account and offer the best to our clients.

During COVID-19, with the help of our in-house, dedicated marketing associate, we've been highlighting our employees on a very visible digital billboard, just for a way to tell the public a little bit about the great folks who work here—the face behind the phone call. It's part of our culture, making sure our associates know we're proud of them and we want our community to know it as well.

Andrew Hudson, President

One thing that makes us unique is our community involvement, showing that support simply because it's the right thing to do. It always goes back to the passion for what we're doing. Following Best Practices is about developing our role as trusted advisers by showing our responsibility and accountability.

The Best Practices designation has allowed us to put all those things down on paper and dig into them—because of that concentration we've made a lot of changes and had a lot of successes. When the rest of our team sees us implementing those things and discussing them, it helps us all keep that greater vision in mind.

AnneMarie McPherson is IA news editor.

IMAGE BY SABRINA HARLESS





15564
Wednesday, December 2, 2020
Agency Operations & Best Practices