In 2001, my father was approached by Keystone Insurance Group about joining their franchise. Keystone is a partnership of independent insurance agencies that work together to share their insurance expertise and resources. This group was just in its infancy when we joined – they had only started franchising two years earlier in 1999.
When they approached us, only 25 other agencies in Pennsylvania were a part of this group. So why did we jump in and run with this opportunity?
We knew that our agency would be better equipped to serve you – our clients.
Keystone Insurance Group offers our clients benefits that you might only expect to find at a large national insurance firm like Aon, Marsh, or Willis, but with a local, hands-on approach that is not otherwise available unless you are as large as a national company like Pepsi or Nike.
These kinds of insurance firms work with larger clients – clients with premium well in excess of $1 million or more, and even then you may be too small to get their best resources.
What is Keystone Insurance Group like today?
Keystone Insurance Group is now a network of over 300 independent insurance agencies located throughout the United States.
Together, this group of independent agents partners to negotiate with insurance companies as a unit. It’s almost as if insurance companies recognize us as a large corporation and adjust their rates and create exclusive, specialized products for our clients.
I am proud to be a partner in this incredible group of insurance agents from all over the United States! Today I want to share with you some of the benefits at your disposal because of our partnership with Keystone Insurance Group.
When you place your insurance with a Keystone member, you can expect these benefits:
#1 Exclusive insurance products and pricing
#2 A network of experts to help with your policy when you hit a “speed bump”
#3 Greater expertise from your insurance agents
#4 Resources that only large insurance firms usually have to offer
#1 Exclusive Insurance Products and Pricing
Because Keystone Insurance Group has over 300 members and billions of dollars in premium, insurance companies work with Keystone agents to provide them with superior products and exceptional premium rates for their clients.
These insurance companies will also establish niche products for various industries. For instance, they may offer special pricing for insurance agencies in our group who are writing policies for construction firms. This special pricing is not available to other independent agents who are not part of the Keystone organization.
The following is a list of just a few of the industries that Keystone offers coverage for:
- Public entities
- Educational Institutions
- Environmental remediation businesses
- Residential and commercial general contractors
- School bus contractors
- Body and mechanic shop repair
- Child care centers
- Commercial dwellings
- Short-term event organizers
- Accountants Errors and Omissions
- Pollution Liability
- Cyber Liability
Lower loss ratio
Keystone Insurance agencies typically outperform other agencies in the handling of their clients’ claims. Keystone agents are known among insurance companies for helping their clients create a culture of safety in their workplaces and proactively managing claims. These factors often translate into Keystone Agents having a lower loss ratio.
Insurance companies want to work with agents that they know will have a smaller amount of claims. While insurance companies are there to help their customers when they have a claim, they want to know that their customers’ are doing everything in their power to prevent claims.
As a Keystone Agency, we work with our customers to prevent accidents, injuries, and damage from occurring. When our clients lower their amount of claims, they can expect a lower premium in return.
#2 Keystone agents serve as a resource for one another.
This may not seem like a big deal, but this is one of the best features of being a Keystone agency! Having other agents as a resource has helped my clients more times than I can even recall.
For example, one of our clients, a local business owner and his wife, purchased a vacation home in a North Carolina coastal area. The bank required some unusual coverages related to wind, hail, and other extreme weather conditions. We did not have an insurance company that provided these coverages.
To help our client, we partnered with a Keystone agent who had access to insurance companies that wrote policies with the coverages the bank was requiring. Because of our Keystone partnerships, we could make sure that our client got what they needed.
Another instance of information sharing is which insurance companies are underperforming and which insurance companies are “knocking it out of the park.” Insurance companies like many other businesses have cycles depending on leadership philosophy, staffing issues, but also loss ratios, appetite changes, and claims handling.
Having feedback from 300 partners regarding which companies are outperforming their peers allows us to get the absolute best value for our clients.
If our agency does not have an immediate answer to your question, we have partners who can!
#3 Keystone Insurance Group provides additional training and resources to its members.
While this is not something that directly impacts our clients, the indirect benefits to our clients are immeasurable.
Annually, KIG hosts a conference where its members receive extra training and information pertinent to our work as an insurance agency. At this event, we learn about the various programs that insurance companies have crafted for our clients.
At the conference, several insurance companies send representatives to meet with us and discuss what type of client their product will best serve. We also build relationships with these representatives that we may later need to call upon when we are negotiating on your behalf.
Emerging Leaders Group
Another resource offered to KIG members is participation in their emerging leaders group – a very forward-thinking group of agency leaders. This group of agents receives extra training in technology, sales and marketing, and human resources.
As an emerging leader, KIG pours some of its resources into developing our leadership at Baily Insurance Agency. Being a leader in the insurance marketplace increases our agency’s expertise.
#4 Keystone Insurance Group offers a multitude of resources to our clients in addition to insurance products.
An enormous benefit to our clients is the additional specialists, services, and professionals available to you.
East Coast Risk Management
East Coast Risk Management is a full-service risk management consulting firm that specializes in safety consulting, human resources consulting, claims management, industrial hygiene, and DOT compliance.
Keystone helps with all kinds of bonds – not just construction-related bonds. They also can write licenses and permit bonds for smaller businesses. Keystone is appointed with over 20 sureties and can help with non-standard or collateralized construction clients.
If you are in an industry like auto services or trucking, finding pollution coverage can be difficult. With Keystone, we have access to a full range of services dealing with pollution. We even have access to a pollution specialist to help when you encounter challenging and unique problems.
Claims Management Professionals
Another service that Keystone offers to its partners is their claims management services. Keystone experts help us improve the outcome of losses. Utilizing their help early has significant implications in keeping our client’s rates from increasing because of poor claims management.
Through Keystone Insurance Group, we have access to products and programs such as long-term disability insurance, long-term care insurance products, estate planning, and 401k/retirement plans.
Employee Benefit Support
Keystone Insurance Group offers extra support in our clients’ employee benefits program. They offer consultation for fully-funded, level-funded, and self-funded group health care. They also have resources to help with maintaining compliance. Keystone has developed exclusive Employee Benefits programs for our clients.
If you are a contracting or manufacturing firm that needs international coverages, Keystone has a team of experts to help write these types of coverages as well as relationships with insurance companies who provide products to meet this need.
Alternative Insurance Products
When our customers run into unique or unusual insurance problems, Keystone Insurance Group has products available to meet those demands. Keystone has resources for Captives and self-insured options. As a client, you will receive the benefit of these various solutions when you need them or even before you need them to ensure that you are familiar with these resources as your business grows.
Insurance solutions for every client, industry, and need
Partnering with Keystone Insurance Group almost 20 years ago was one of the best decisions our company has ever made! Because of this partnership, Baily Insurance has a host of resources at our fingertips.
Are you in an industry with complex insurance needs? We have niche products already designed for businesses like yours.
Are you a small to mid-sized company? We have resources available to you that are typically available only to large clients who do business with national insurance agencies (agencies that usually won’t write policies for clients who are spending less than $1 million in premium.)
Partnering with Keystone Insurance Group allows us to bring you resources that most other independent insurance agencies our size don’t have available.
Not only can we provide significant resources for our commercial customers, but we also have products and services available for our personal clients. Products like long-term care or disability income protection are available for all of our clients.
If you have questions about the resources we can provide for you, please give us a call! We are eager to find insurance solutions for all your needs.