She Secured Above Average Client Retention Buying an Insurance Agency
In this episode of The Art of Succession podcast, host Barrett Young interviews Nakeia Mack, who transitioned from an accounting degree to owner of Oliver Mack Insurance through an unexpected opportunity to purchase an established insurance agency. Her story offers valuable insights into succession planning, leadership development, and building a sustainable insurance business.
Despite having no prior insurance experience, Mack purchased a 36-year-old insurance book of business in 2021. The transition began with a single four-hour meeting with the previous owner, followed by a rigorous carrier approval process. Her accounting background, while seemingly unrelated, provided a strong foundation for understanding risk management and policy details.
From day one, Mack prioritized building an all-female team focused on client education and support. She implemented a unique management approach, working directly with clients during morning hours while dedicating remaining time to strategic planning and team development. This balanced approach has proven successful, with less than 2% client turnover during the ownership transition.
Her client-centered philosophy emphasizes protection over sales, demonstrating how combining professional expertise with genuine care for clients and employees can create a successful business transition. Looking ahead, Mack plans to expand her business while maintaining her commitment to both insurance and accounting services.
Listeners can connect with Nakeia Mack through Oliver Mack Insurance on Facebook, or visit olivermackinsurance.com to learn more about her services.
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Disclaimer: This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.
