Risk & Business Magazine Moody Insurance Spring 2017 - Page 5

16 feature 45 YEARS OF COMMITMENT ABOUT TED * : A TALE OF EMPOWERMENT CONTENTS 2 MOODY IN THE COMMUNITY 5 LETTER FROM THE CEO 6 MOODY ACADEMY SEMINARS 7 SMILE. LISTEN. CONNECT. Moody Culture 8 THE ADVANTAGE OF AN IN-HOUSE SURETY EXPERTISE 9 PROSPECTS FOR PENNIES Find Gold In Abandoned Advertising 10 CUSTOMER SERVICE VS. CUSTOMER EXPERIENCE Knowing The Difference 12 UNMISTAKABLE HABITS OF IRRESISTIBLE PEOPLE 14 ONE DAY A WEEK This Entrepreneur More Than Doubled His Revenue 20 COACHING: It’s An Ongoing Process 22 SEVEN SIGNS YOU ARE GOING TO BE SUCCESSFUL 24 TOPGRADING SNAPSHOT How I Avoided A Costly Mis-Hire In One Minute 25 ARE YOU LOSING BIDS BECAUSE OF WORKERS’ COMPENSATION LOSSES? 27 HOME AND AUTO INSURANCE Rate Challenges 28 WHY THE NUMBERS MATTER Analytics & Insurance Moody Insurance Agency was incorporated in Colorado May 1, 1972, consisting of one full time head employee, myself and my wife Karen as part time bookkeeper. Incidentally, Karen opted to retire as CFO after only forty years of service with the agency, which was disappointing, as I was expecting and hoping for forty five. I was 34 years old with a wife and two young sons to support so the thought of failure was more than enough incentive for me to work long hours in order to have the necessary cash flow to pay the one employees salary, insurance companies account current, rent, and vendors. The first couple of years in business were definitely trying since I was confronted with finding a CPA, Bonder, and Insurance Company Branch Manager that would roll with the dice of a young start up agency with limited finances and three small contractor accounts. In addition, it was difficult to convince prospective contractors to consider switching their insurance and bonding account from a larger, well -established agency to a small agency that may or may not be in business for the long term. The agency has grown from having revenue of $125,000 and two and a half employees in 1973 to approximately $25 million and 125 employees in 2017. This increase in commission income has been achieved largely through organic growth, however, we also have acquired several P&C and Benefit Agencies over the years. Perpetuation for any small or large company is a major problem and concern. In that regard, I have been blessed and fortunate because my two sons, Brad and Troy have taken to the insurance agency business like ducks take to water. Brad and Troy complement each other and are, in my opinion more than qualified, along with the talented professional management team to lead the company to greater heights going forward. 29 UNDERSTANDING THE CONSTRUCTION WRAP-UP POLICY Sincerely, 30 OBAMACARE: What Repeal & Replace Could Have Looked Like Evan Moody, CEO, Moody Insurance WWW.MOODYINS.COM 5