"It's been very painful," Howard comments.
"When we get a renewal and we have to tell the
client that the premium has gone up 50% or more, it
becomes a credibility issue. One of my clients was
paying $13,000 last year, and this year it's $35,000.
We're seeing some huge rate increases, and we have
to convince our clients that we've done everything
we could to get them a reasonable premium. I've had
to remarket accounts that normally would have rolled
over, and as a result our workload has almost doubled."
Market conditions aside, Howard is acutely aware
of the importance of providing top-notch service after
the sale. "We try to go beyond just servicing
accounts and create an atmosphere of friendly service,"
he says. "Our corporate motto is, 'We treat our
customers like friends.' When people call, we try
to show them we're happy to hear from them and help
them. We never want customers to feel like they're
putting us out. I think our positive approach to service
has been a key factor in growing our business."
EDUCATING AND INFORMING
In addition to arranging coverage and providing service,
R.V. Howard & Associates also acts as an educational
resource for prospects and clients. "Because
this area is experiencing such tremendous growth,
I get a lot of calls from people who are starting
businesses," Howard says. "The more established
agencies often don't want to be bothered with these
people. I spend time with them, explaining the things
they need to understand as they start their business
and describing the kinds of insurance protection they'll
need. I also work with the Indian River Community
College's Entrepreneurial Institute, which offers
a 12-week program for people who are interested in
starting their own business. For the last few years
I've been the insurance guest speaker for that program.
I tell the students about the various kinds of insurance
they may need and explain how to go about finding
an agent; what's the difference between an independent
agent and a direct writer and why that difference
is important."
LOOKING AHEAD
As his agency's volume grows, Howard is cognizant
of the need to augment his staff. In addition to bringing
on a life producer, he plans to add another service
position. "In Port St. Lucie, we're experiencing
tremendous growth in housing on the west side of town,
and I'm considering opening a branch office there
in 2004 so I can capitalize on the personal lines
opportunities that are emerging," Howard says.
With his reputation as a problem solver for difficult
risks, his focus on keeping customers happy, and his
commitment to measured growth, Rudy Howard clearly
has what it takes to thrive in a market where challenges
abound. *
