Author: Andrew Casson, BSU student
Located in Randolph, Massachusetts, Acceptance Insurance provides coverage for those who are located in and around the South Shore area. Acceptance provides personal lines of insurance which includes homeowners, auto, and personal insurance. The agency was started in 1991 by Frank Gaynor, and still managed by him today. Frank was referred to the insurance industry by family and began working in insurance around 42 years ago.
Frank was motivated to start his own agency after management changed at his previous business. This effected Frank because he could not fully trust the new management, so he decided to bet on himself and start his own agency. By becoming the manager of his own agency, Frank knew that his worth would be recognized within the company.
While Frank was proud of starting his own agency, it came with its struggles. Frank left the security of his old job to deal with start-up costs and other expenses to get his agency off the ground. Frank also went through all of the red tape that comes with starting an insurance agency which caused him to be without income for the first few months after opening. Frank survived the hardships of starting an agency and turned Acceptance into a stable business.
One of the most important qualities that Frank believes separates himself from the competition is his level of service compared to larger insurance companies. Frank highlighted that larger insurance companies deal with a larger volume of clients, which make them less focused on the customer. Acceptance makes the customer feel like their needs and protection are the priority. Frank feels that his personal touch allows for customers to feel like they are being cared for and thought of, as opposed being just another account at a larger company. The customer is also vital to Frank’s operation, as they are his greatest marketing tool. Word of mouth is the only way that Frank brings in customers. Aside from his business card, Frank does not advertise. Frank advises that the customer take two business cards, one for themselves and another to give to someone who could potentially be a future customer. Through word of mouth, Frank builds a stronger relationship with his customers.
Another thing that makes Franks business unique is how little he attributes the internet in growing his business. Aside from using word of mouth instead of advertising, Frank prides his company on doing business in-person. Frank does not sell his product online or over the phone. Although a phone call can get your foot in the door, Frank believes the best way to do business is face to face. This helps him better understand the needs of the individual and also helps the customer, so that it is clear what coverage they want to purchase. Frank also emphasized that an in-person meeting will help the customer better understand what they are buying as well as the parameters that go along with it.
As Acceptance Insurance moves into the future, Frank hopes to see his agency grow consistently. He would like to see his growth rate to be constant or greater than inflation. Acceptance Insurance Agency is located at: 24 North Street, Randolph, MA and can be contacted via telephone at 781-963-1112.