Frenkel & Co. Inc.
New York, N.Y.
Owner(s)/principal(s): John Kelly, John Bradley
2006 personal lines premium: $26.8 million
No. of personal lines insurers: 20
Frenkel & Co. Inc., founded in 1878, serves only high net worth individuals through its two office locations in New York and New Jersey.
The agency has grown its personal lines business through a combination of referrals and affiliations with Barron’s, financial institutions and investment houses, says John F. Kelly, CEO and president. Frenkel also offers real-time comparative quotes for personal lines customers through Chubb, AIG and Fireman’s Fund.
Kelly says what he likes most about the personal lines business is cross opportunities and efficiency in automation. But what Kelly likes least is how catastrophe losses affect the market.
The biggest challenges today in homeowners are catastrophe losses, mold and valuations concerns, he adds. The most pressing challenge for the auto market is limitations based on areas.
About 15 percent of Frenkel’s sales are for personal umbrellas, Kelly reports.
When asked to name three keys to the agency’s success in personal lines, Kelly said: effective use of automation; training and retention of key personnel; and solid market relationships.
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