A Conversation With ... Louis E. Bartholomew

I have been in the insurance business here in Springfield since 1984, and I’ve spent all that time at the same desk. In 1984, this agency was owned by Charlie Thomison (as Thomison Insurors). He sold it to Rebsamen in 1998.

In 2005, Regions Bank bought Rebsamen Insurance, and we are going to be going by the name Regions Insurance after July 1. We’re … in the transition period.

Rebsamen in Springfield is an independent agent. We have commercial producers who write commercial liability and property insurance. There are two of us who write the health and life lines – myself and Cindy Elston. Right now, we have seven employees in this office.

How did you get to your current position?

Immediately prior to coming into the insurance business, I was in a small town in southeast Kansas, and I was at that time, in the construction business. That was 1983 … and interest rates were as high as 21 percent. There was no money. I was looking for a change: I had been a longtime friend of Charlie Thomison. He and I had been college roommates in 1957. He thought that I should join him as a sales agent. Actually, I went through Tulsa, Okla., on my way … because I wouldn’t come to work for Charlie, because I (thought) I could not succeed in the insurance business. (In Tulsa), I got a job selling insurance with a company (and) went through their training schools.

Was it difficult going to insurance from construction?

I have been a little bit of everything in my life. I started out as a schoolteacher when I graduated from college. (After teaching), I spent 10 years in Kansas City in various jobs, none of them in insurance. Then I returned to my hometown, Erie, Kan., (and) bought a restaurant. I made pretty good money with the restaurant, but it’s the hardest job I’ve ever had in my life. The third time I sold it, I got cash. I didn’t finance it. In 1979, I ran for mayor of Erie, and was elected to two terms. Springfield and the insurance business has been very, very good to me.

What has kept you in insurance for 23 years?

Every client is different. Every day is different, a new challenge. You never get bored or stagnant. I do primarily individual markets, though I do have some major group accounts. I do a lot of senior Medicare supplement and long-term care work. Insurance is very exciting in that you can’t sell (to) somebody. You can only help them buy.

What do you see as prevalent challenges for the insurance industry?

In the major medical field, we are seeing double-digit inflation and double-digit rate increases on individual policies. Trying to balance affordability to the client with benefits that will take care of their needs when they have a claim (is a challenge).

Insurance hasn’t changed in 200 years. It’s a sharing of the risk, and that is still what we’re doing. The thing that has changed is the cost of sharing the risk.

Why does health insurance cost more?

We have more ways to keep people alive longer. We’re using the policies, and as the baby boomers come along, they’re at the age where an awful lot of them are taking prescription medication. Prescription medication is very high. People are living longer … having more surgeries. The biggest culprit is lifestyle. People overeat, they overdrink and oversmoke. And they underexercise. It takes its toll on health insurance.

In February, the Springfield Association of Insurance and Financial Advisors named you the 2006 Advisor of the Year. What philosophies guide your work?

The greatest sales manual that we have is called the Holy Bible. I strive very, very hard to follow the rules in that sales manual. Everything I do, I do with a Christian concept … and I think the clients pick up on it. I send birthday and Christmas cards with Bible scriptures on them, and in this day and age in the business world … it’s almost a politically incorrect thing to do. But I’ve had customers call and comment what a nice card it was.

Tell us about your family and your interests outside work.

I have two children, and my wife, Fran, has two children, and they’re not the same two. We just celebrated our 21st wedding anniversary. All four children are married. In January … we went on a cruise, and took all four kids and their spouses.

I am extremely active in our church, Brookline First Baptist Church and … have had the honor of teaching various subjects before the whole church. And travel – we love to travel.