This agency was started in 1958 as the Jim Morris Sales Co., and through the last 50 years, we have always concentrated on property and casualty insurance, as well as personal lines insurance. The Jim Morris Sales Co. evolved into Man-Morris, then (in 1998), we evolved into a national broker as Arthur J. Gallagher & Co. But as of the first of this year, we have partnered with BancorpSouth Insurance Services Inc. We currently have 15 employees, which is four production staff, one claims coordinator and the balance being account managers and support. Most of our staff has been here for a long time - two-thirds have been here for 10-plus years. Our focus is on local business. Having said that, we're licensed in all 50 states and have business almost in every state.
How does SMI Group function as a division of BancorpSouth Insurance Services?
Actually, there are five independent agencies in nine states that make up BancorpSouth Insurance Services Inc. Collectively, the five agencies are positioned as a Top 35 broker in the U.S. by Business Insurance magazine based on year-end 2007 numbers. The five agencies account for roughly $100 million in combined annual revenues. We chose to be recognized, going in, as (the source for) southwest Missouri insurance, hence the name SMI Group. We all operate under BancorpSouth Insurance Services ... but we use a local brand for our territories.
Does being part of the BancorpSouth group give you access to more client services?
The partnership with other BancorpSouth agencies is unique, and it is being used (for) services (such as) employee benefits, loss-control services and third-party administrator services. We ... partner internally with other BancorpSouth agencies to bring those services local, but yet, we don't house them locally.
What lines of insurance does SMI Group carry?
We're a full-service property and casualty brokerage firm. That means that while we concentrate on the small-, medium- and large-business accounts in our area, we also have a full-service personal lines department. What we don't do is ... individual or group health insurance. We're going to look at doing that down the road, but focus is on property and casualty (business, homeowners, auto and life insurance). You've got to have the right personnel, and we're not in a rush to enter (the health) market until we're fully capable of handling it.
What business effects do you anticipate from the current situation in the financial market?
We are seeing agencies as well as carriers consolidate more frequently, probably, than you normally would. (Consolidation) happens on a fairly routine basis in our industry. But I think with what's going on in the financial sector, it wouldn't surprise me to start seeing some of the more significant insurance carriers start to partner and merge.
What's your history in the insurance industry?
I've been with this agency for 15 years. Jim Morris approached me during the latter part of my college days and asked if I wanted to come into the insurance business. I really knew nothing too formal about the business. He took me in, and took me through the different educational channels that you have to go through to learn this business. I told him I would commit for a couple of years and see how it went, and I just very much grew fond of the business. One of the great things about insurance is that you get to see all different levels of ownership and management skills within various operations.
Tell us about your family and what keeps you busy outside work.
My wife, Stacey, is a Realtor with Assist-2-Sell. We have two kids. Our daughter, Sydney, is 9, and our son, Sam, is 6. They're heavily involved with sports - flag football, soccer, golf and horseback riding. When I do have time, I like to try and play golf, and hope to someday be able to hit a draw.
Interview by Features Editor Maria Hoover.[[In-content Ad]]
