Today we’d like to introduce you to Marcia McKinney.
Hi Marcia, so excited to have you on the platform. So before we get into questions about your work-life, maybe you can bring our readers up to speed on your story and how you got to where you are today?
Today, I am a broker (and owner) with Northeast Insurance Advisors. Prior to this, I spent 20+ years in the hospitality industry, working with restaurants and catering companies from Minneapolis to Chicago and even Key West FL. In 2008, with the recession looming, I was laid off from my Sales and Marketing position with a local prominent catering company. After about 6 months or so, trying to figure out what I would do next, a friend suggested the insurance industry. I kind of rolled my eyes, thinking that path didn’t sound too exciting and potentially not a good fit, business-wise. But, on the same hand, I knew that perhaps it was time for me to retool myself and consider a new industry.
When going into the insurance industry, the first thing to do, is to get licensed. There are classes you can take to prepare you for the test you need to take and pass, to obtain your license(s). In these classes, as teachers, I had some really insightful, seasoned professionals from the insurance industry and it was then, through their teachings, that I understood what my path could be in this industry, how I could use my skills from the hospitality industry to move forward on this new path. I had auto insurance and home owner’s insurance but no one had ever really taken the time to explain to me what my coverages meant, what the numbers meant and the overall details of my insurance. I had spent 20+ years of my life in hospitality and more than half of that working in management, working with people (from my co-workers to our guests) , helping them, making them feel comfortable, problem solving and logistical planning. It seemed a natural transition of those skills to the insurance industry but to come at it from a bit of a different perspective, striving to be more educational versus sales driven. Since I began in this industry, I have tired to impart the whys and how’s insurance protects us and builds a safety net for us and our families whether that is with auto insurance, homeowners insurance, commercial insurance, life insurance, disability and long term care. I have tried to make my interactions more conversational with an exchange of ideas, answering and posing questions to ensure my clients understand their potential policies. And now for the last, 12 years, this is what I have done.
I started with a captive carrier (which means I could only write policies through that one carrier) and was appointed with them in the fall of 2010. After 3 years, it made more sense for me to explore the opportunity to become an independent insurance agent/broker, meaning I could work with variety of carriers where I could be more of an advocate for my clients vs the company/carrier I was working for. Since 2014, working as an independent agent/broker, I have honed my skills, expanded the carriers I work with along with the types of insurance I can offer and have worked with a variety of clients. I have also developed some great relationships with a local credit union doing regular First Time Home Buyer seminars and with an association dedicated to educating and assisting small business owners and entrepreneurs doing a quarterly Commercial Insurance 101 webinar.
I work predominately with clients in Minnesota but also hold licenses in Wisconsin, Illinois, North Dakota, North Carolina, Tennessee, Florida, Arizona and Montana, where I was born and raised.
When I am not working, my passions are hanging out with my rescue dogs (Grace, Bailey, Maggie, Lucy, Lena, Ali and Finn), gardening in the warmer months and working on various home improvement projects around my house in Minnesota.
Would you say it’s been a smooth road, and if not what are some of the biggest challenges you’ve faced along the way?
The road has been full of obstacles and challenges and my need to be persistent, is something I do daily. I sometimes say, my job, my ability to produce and succeed, really hinges on my follow up with my clients. I am cognizant that not everyone thinks of insurance every day and just because I had an interaction with a potential client weeks ago, and their response was positive, thanking me for finding a less expensive rate, without compromising coverage or explaining their coverage or helping them to understand the insurance process better, I still need to follow up with them, sometimes not finishing the transaction for months.
One of the other challenges is getting our own (agency) appointments with a variety of carriers so we are able to offer our clients a mix of both national and regional carriers, being able to be competitive in our market. Each carrier has their own requirements to do this, which includes our experience, production and our track record of writing good business.
A third challenge is, in the insurance industry, when starting and operating our own agency, understanding compensation is based on commissions, 100%. So for the first five years, when I didn’t have many clients and was growing my book of business, I had to have a second (and sometimes third) job. Luckily, coming from the hospitality industry, I had some contacts and was able to work part-time as a bartender in my early years and most recently, I have picked up some contract work as a benefits educator and notary public.
Another challenge is, my business has grown and I sometimes need additional support, some administrative help. But our business can sometimes be sporadic, with the peaks and valleys not necessarily predictable and/or consistent, so the challenge is managing when the help is needed and what pieces can be handed off. This is a struggle to this day, but I do have an assistant who has a flexible schedule and is easily able to adapt to my production.
As you know, we’re big fans of Northeast Insurance Advisors. For our readers who might not be as familiar what can you tell them about the brand?
We are a group of insurance agents, both in Minnesota and Montana, all working under the same company name, but each of us working at growing our own books of business. This level of production allows us to attract carriers and ultimately be more competitive. But we all have a similar approach and that is in helping our clients to find the best coverage, hopefully at the best price and educate them along the way, when it comes to claims and understanding policy language. We want to write good business for us as an agency, for our clients, making sure they are properly covered (or at a bear minimum, understand what their options are) and although we are compensated through sales, sales and production are not the emphasis for what we do and our ability to succeed and grow the company.
What quality or characteristic do you feel is most important to your success?
Tenacity and the ability to flexible and gracious.
Contact Info:
- Email: [email protected]
- Website: www.neiadvisors.com
- Instagram: https://www.instagram.com/marciamckinney.nei/
- Facebook: https://www.facebook.com/marciamckinney.nei
Image Credits
Nicole Annette McKinney
