Solving problems is one of the key strengths of Indianabased Kincaid Insurance. “We do best when a client is in a desperate situation—when there’s a serious claim, coverage is being cancelled, or complexities are challenging a client from obtaining coverage,” says Dan Kincaid, agency President and founder.
One of the leading agencies in southern Indiana today, Kincaid Insurance has very humble beginnings. In 1996, Dan left a successful sales career at a major insurer and started the agency in the office of a defunct car dealership in Rockport, Indiana. “My wife, Sandy, encouraged me,” Dan recalls. “I said, ‘Do you realize how hard that is?’ And she said, ‘I have faith in you, Let’s give it a shot.’”
Despite starting from ground zero, the agency broke even after just three months and had a full-time CSR after four. In less than a year, Kincaid Insurance outgrew the car dealership and moved to a new office, and then moved again in 2004. Today, the agency has 25 employees and writes over $22 million in premium.
Kincaid Insurance writes personal lines, employee benefits, and commercial lines, which it further splits into a commercial package division and a trucking division. Through word-of-mouth referrals, the agency has grown and expanded into new markets and states, including Michigan, Tennessee, Alabama, and beyond.
“For the last 15 years, we’ve grown at least $1 million in new commercial business every year and at least $250,000 in personal lines,” says Dan, who credits the agency staff with helping take business to the next level.
“We have wonderful staff with very little turnover—people who have been with us since the early years,” Dan says. His sons are also part of the agency’s staff. Jonathon Kincaid is Vice President, and Jeremy Kincaid is Marketing Director.
“We have extremely knowledgeable employees who put a lot of time and effort into education,” Dan adds. “Our people are honest, ethical, and committed to doing the right thing for the customer. We’d rather not write an account and be right, than write it and be wrong.”
Although Kincaid Insurance uses the latest in agency management technology and is fully paperless, its approach to customer service is definitely old-school.
“You could say we are a ‘throwback’ agency in some sense,” Dan explains. “Pricing is important, but customers don’t ask about price when they have a claim. We try to educate the client on carrier stability, market volatility, and how we can help stabilize their protection over the long haul by being with the right program.”
With its problem-solving approach and commitment to customer service, Kincaid Insurance runs an enviable 96 percent retention rate in commercial lines and 92 percent in personal lines. This retention, combined with the agency’s consistent new business growth rate, has everyone at the agency excited about its future prospects and potential.
“When I started this business, I closed my eyes, said my prayers, then kept my head down and kept driving forward. That hasn’t changed,” Dan says. “I guess you could say we keep following the advice of my mom, who always said, ‘You pray to heaven and work like hell.’ That’s our mantra.”