How Twain Insurance policy to ship “the expertise of tomorrow with the service of yesterday”

A brand new property and casualty insurance coverage company goals to ship complete and high-touch insurance coverage providers with “the expertise of tomorrow.”

Launched in January 2024, Twain Insurance coverage Company is the fruit of a partnership between a gaggle of producers led by John Lawrence, Tom Davis, and Griffin Wilson and personal fairness agency Twain Capital.

Lawrence (pictured), who heads up the Mississippi-based company as president, spoke to Insurance coverage Enterprise in regards to the enterprise.

“We all the time thought it will be a logical step for us,” he mentioned.

Twain Insurance coverage will concentrate on middle-market companies, specializing in actual property, building (together with surety), vitality, healthcare, waste, monetary, distribution, manufacturing, non-profit, and training.

Returning to a ‘client-focused’ service ethos

Earlier than beginning Twain Insurance coverage, the trio helped set up the mid-Atlantic workplace for Industrial Insurance coverage Associates (CIA), an unbiased P&C brokerage with workplaces in Tennessee, Maryland, and South Carolina.

Based on Lawrence, their imaginative and prescient for a brand new insurance coverage company – one which returned to the “tradition of client-focused service” – aligned with that of Twain Capital’s.

“We wished to take care of a boutique, high-touch really feel with our shoppers,” he mentioned. “They know our households, we all know theirs, they name us and might get us on the cellphone instantly.”

However Lawrence additionally acknowledged that insurance coverage might not fall behind the altering instances. He envisioned Twain Insurance coverage being pushed by each cutting-edge expertise and consumer relationships.

“We all know that instances are altering with all of the totally different expertise that’s coming, and we need to make it possible for we’re adapting,” Lawrence mentioned.

“Insurance coverage has been one of many final movers on the expertise entrance, however it’s a transfer that may occur, a shift to be extra technology-driven. We need to make it possible for we’re doing that to have the ability to assist our shoppers.”

Producer-led insurance coverage company

One other function that makes Twain Insurance coverage stand out out there is its flat organizational construction. The company goals to empower its producers by eschewing the standard company hierarchy.

Lawrence noticed that some organizations had too many layers of center administration that have been hampering effectivity and efficiency, as an alternative of boosting it.

“You bought to listen to about issues three or 4 totally different instances from a boss, then from a boss’s boss,” he mentioned.

“Our viewpoint has all the time been that if you happen to put high quality folks into the right positions, they don’t want these extra layers of administration to succeed. We will use these extra assets to supply extra providers to our shoppers.”

Delivering extra worth to the middle-market phase is on the coronary heart of Twain Insurance coverage, Lawrence mentioned.

“Center to large-middle market is our area of interest, and we really feel it’s slightly bit underserved within the market proper now,” he mentioned. “It’s a candy spot the place we are able to actually excel, the place folks do need the high-touch service and professionalism of a big insurance coverage program, however they need the service mannequin of a smaller company.”

What’s subsequent for Twain Insurance coverage Company?

Twain Insurance coverage has hit the bottom working with an intensive checklist of shoppers and service relationships throughout the nation.

Over the subsequent few months, the crew will concentrate on crafting a progress framework, attracting extra producers, and constructing its guide of enterprise with shoppers and carriers.

“It’s been a really enjoyable and thrilling first few weeks,” Lawrence mentioned. “We glance to rising not solely organically, however we’re additionally speaking to extra producers within the market which might be intrigued by the flat hierarchy that we’re going for and perhaps disillusioned with their present scenario and relationships within the market.”

The company can also be trying to department out from its present bases in Maryland, Virginia, DC, Delaware, and Pennsylvania.

“We undoubtedly wish to increase, however we’re searching for the correct folks,” Lawrence mentioned. “The 2 areas we glance to develop out are the DMV (District of Maryland, Maryland and Virginia) space in addition to Mississippi. However I feel our preliminary objective is [to get] the correct individual, no matter the place they sit. That’s extra essential to us.”

Lawrence additionally addressed the partnership with Twain Capital. He mentioned that the place most non-public fairness corporations see a time horizon for his or her return on funding between 5 to seven years, Twain Capital helps Twain Insurance coverage’s longer-term ambitions.

“Twain Capital needs to be the antithesis. They’re searching for extra of an extended, perhaps 10-to-15-year horizon for his or her portfolio firms, so it’s a a lot totally different expertise,” Lawrence mentioned.

“We didn’t need non-public fairness that was simply trying on the backside line in any respect factors. We need to construct one thing sustainable for various years. Twain is totally supportive of that imaginative and prescient as a result of it’s a mutual imaginative and prescient.”

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