It has been a yr of celebration for Fort Wayne-based Okay&Okay Insurance coverage, because it named a brand new CEO and president and marked an vital anniversary – and with some opponents leaving its markets, its large yr additionally spells alternative.
The specialty sports activities, leisure, leisure and motorsports enterprise has now been catering to insurance coverage wants for 70 years and even has its personal official Okay&Okay Insurance coverage Day.
“Might is important for Okay&Okay as 5 years in the past on our sixty fifth anniversary the Metropolis of Fort Wayne proclaimed Might 10 Okay&Okay Insurance coverage Day and the Indiana Senate formally acknowledged our important contributions to the motorsports, sports activities and recreation insurance coverage trade,” Okay&Okay CEO and president Ron Norton (pictured) instructed Insurance coverage Enterprise.
Norton, a 36-year Okay&Okay veteran, stepped into the CEO and president function in July when Todd Bixler, who had led the agency for 12 years, retired. With Norton’s promotion, Stephanie Waldron, previously SVP of occasions and points of interest on the Aon-owned enterprise, was named Okay&Okay chief underwriting officer.
Okay&Okay usually promotes from inside, Norton instructed Insurance coverage Enterprise, and workers are appreciative of the “alternatives for development” that this presents. In the meantime, its popularity as a long-term employer within the space makes it a vacation spot for native expertise.
Catering to shoppers throughout the US and Canada, Okay&Okay is concentrated on offering a “constant supply” of protection and claims assist for insurance coverage patrons and it achieves this by robust hyperlinks with insurer companions.
“We accomplice with a number of extremely rated, financially sound, insurance coverage corporations in order that we stay a steady market for insurance coverage brokers and brokers,” Norton stated.
“The insurance coverage firm varies by program; as a result of the protection wants differ between, for instance, a well being membership and a motorsports facility, we select one of the best match for the chance and the insurance coverage corporations with whom we accomplice.”
The enterprise boasts greater than 70 applications and up to date additions embody employees’ compensation protection for sports activities, leisure, recreation, and motorsports organizations.
Okay&Okay has seen “heightened curiosity” this yr in its campground, motorsports, well being membership, newbie sports activities, and vacationer attraction applications, “partly as a consequence of opponents leaving the market”, Norton stated, but additionally as a consequence of an easing of COVID disruption.
“COVID was actually a disruptor for lots of the organizations we insure and it’s protected to say we’re all completely satisfied to see sports activities and leisure organizations thriving once more,” Norton stated.
“Whereas COVID was extraordinarily difficult, our underwriters and claims specialists perceive the bizarre dangers our insureds expertise and are all the time ready to supply protection and loss management options.”
The enterprise has continued so as to add new protection and capability to its present program companies because it targets double digit natural development and expects to launch a brand new program in 2023 – brokers and brokers ought to “keep tuned”, Norton stated.
Okay&Okay doesn’t impose quantity commitments for its agent companions.
“Our aim is to make it simple for licensed producers to put enterprise with us,” Norton stated.
“No prior appointment or settlement is important to submit functions for a protection citation.”
Brokers even have direct entry to underwriting workers, whereas its gross sales crew goals to shortly reply to new enterprise alternatives. One factor that Norton stated units the enterprise aside is its in-house claims workers.
“Their understanding of the distinctive dangers and the way the insurance policies are written inherent to sports activities and recreation organizations permits Okay&Okay to offer well timed and applicable claims decision service,” Norton stated.
Ron Norton has been within the insurance coverage enterprise for 36 years. As president and CEO at Okay&Okay Insurance coverage, Norton’s aim is to proceed attaining double digit natural development whereas sustaining the profitability every of the 70 applications are presently attaining.