Insurance Veterans Launch New Business, With Help from Intelligent Office

It was 1992 when Mike Migues and Tom McHenry established their first partnership, acting as a managing general agency to service the agents of Abbey Insurance, a non-standard insurance provider. The partnership was so successful that the pair later formed Atlanta Underwriters to provide support for agents with a standard insurance operation.

Fast forward 15 years into the future and you find that Migues and McHenry have successfully installed and managed more than 140 independent agencies across Georgia and Tennessee, an overwhelming success for such a highly competitive market. But rather than rest on their laurels, the partners set out in early 2007 to form an entirely different type of insurance operation.

“The dynamics of the insurance business are changing, largely due to the fall-out from the catastrophic events of the past few years,” explained Migues. “This is making it increasingly difficult – and risky – for new agencies to set up shop.”

Migues and McHenry chose to capitalize on this softening of the market by announcing the formation of Equity Insurance Partners, a completely different kind of insurance agency business.

“We’re taking all of our experience managing agencies and offering to partner with other professional and financial service providers who have an interest in adding another profit center to their business,” continued Migues. “While they may be interested in insurance most aren’t prepared or able to operate their own agency.”

After months of negotiating with carriers ranging from Zurich and Travelers, to Hanover, MetLife and Progressive, Equity Insurance Partners was granted permission to begin forming partnerships earlier this summer. Now Equity Insurance Partners is looking for realtors, bankers, attorneys, mortgage brokers and CPAs who would like to set up their own independent insurance agency.

“At Equity Insurance Partners we will recruit, train and supervise the agents on behalf of our partners plus manage the book of business they produce,” said Migues.

Their efforts to start marketing this innovative new model to partners began last month with the hiring of Natalie Piccolo as Regional VP of Marketing.

“Our intent is to establish 100 offices in Georgia within a two year timeframe before we move into additional states,” stated Migues. “In addition to looking for business partners, we are obviously going to be doing a lot of career and college recruiting events looking for individuals with degrees in insurance and risk management.”

So how does Intelligent Office play into the success of Equity Insurance Partners?

“We were referred to Intelligent Office by another family member,” confessed Migues. “I needed a physical location that was convenient for meetings and close to my home.”

Now Equity Insurance calls the Roswell location of Intelligent Office home and depends on the conference rooms and dedicated office space for their recruiting and interview process.

For more information about Equity Insurance Partners, contact Natalie Piccolo at Natalie@equityinsurancepartners.com or
678-353-3221.

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