A Conversation With ... Jeff Yoakam

Tell us about your agency.

I was hired with American Family in December 1993 and was appointed to my agency in February 1994. I have two full-time staff members, and everybody’s licensed in insurance. American Family Insurance is a multiline carrier, so we sell auto, home, health, life and business insurance.

There are also brokerage companies available to assist other needs – American Family has contracted out (to) take care of people’s needs even if American Family doesn’t offer a particular service.

How did you decide on a career in insurance?

I went to the University of Missouri to start college, then I graduated from (Missouri State University) with a bachelor’s degree in psychology.

After college, I went back up to Columbia and went to work for a company called Modern Business System. … I basically sold copiers and faxes. I worked there for about three years, and then went to work with a (publishing company) client of mine … and I traveled around the country, calling on universities and colleges and setting up alumni publications. I came back to Springfield and got involved in the family business, Floorcraft Furniture and Carpet. I managed that store. Someone approached my family about buying the business, and I knew that (working there) probably wasn’t what I wanted to do for my career. They gave me the opportunity to buy the business from them, and I declined.

From there, I got into the insurance business.

How did you make the switch from studying psychology to working in sales?

Psychology intrigued me (and) I enjoyed it. I think it was interesting, more than anything. I knew from Day 1 that I was going to be in sales, and that’s pretty much what I’ve done for my entire career, since I’ve been in the work force.

I really enjoy working with people. I have a great staff … (which is) a large attribute to my success. I enjoy coming into my office.

What goals do you have for your company?

Growth – to grow my insurance agency and to keep my customers. Selling an intangible product is something that’s tough.

In this industry, people come and they go on a regular basis, so the goal is to keep your customers. The bulk of my business is property and casualty business, and what we try to focus on is to well-round everybody to give them all types of (coverage). Generally, people are more apt to call us for an auto policy or a homeowners’ policy, so that’s kind of the base-builder … to supply them with a health policy, or supply them with a life insurance policy. It generally starts with the home and the auto and builds from there. The goal is to have multiple policies in individual households.

Beyond growth, what other challenges do you face in your business?

Competition. In this industry, it’s highly competitive. Insurance seems to be cyclical company to company. Rates are going to go up and down.

American Family … has done a good job of always being competitive from a company standpoint.

Tell us about your family.

My wife, Lisa, and I have been married for 15 years. We have an 11-year-old daughter, Allison, and one golden retriever, Wilson.

What do you like to do for fun?

We have a lake house on Table Rock Lake. Throughout the warm months, we spend a lot of time at the lake. Allison keeps us busy with her soccer.

We love all types of water sports, snow skiing and tennis.