Doug Jones | President of HUB International SFL on Florida’s Insurance Market Starting to Normalize
Jun 4, 2024
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Doug Jones, President of HUB South Florida, talks about the difference between being a broker vs. building a brokerage, networking, decision to sell business, transition to HUB International, scaling insurance business, and insights into the insurance market.
Collaborating with Gary Vaynerchuk for social media enhanced brand visibility with entertaining content.
Strategic decision to sell JAG Insurance Group to Hub International led to growth and improved service offerings.
Success and growth of JAG Insurance Group attributed to unique dynamics among partners and leveraging combined strengths.
Deep dives
Creating a Social Presence Through Funny Videos
To enhance brand recognition and engagement, JAG Insurance Group collaborated with Gary Vaynerchuk to develop a social media strategy focusing on entertaining content. This approach involved producing humorous videos to captivate audiences and differentiate themselves in the competitive insurance sector. By balancing entertaining content with informative posts, the company effectively engaged with potential clients and maximized brand visibility.
Transition from Independent Brokerage to Hub International
Initially reluctant to sell their thriving independent business, the partners at JAG were courted by various major firms in the insurance industry. The turning point came when Rick Gulliver, the founder of Hub International, presented an intriguing opportunity for JAG to maintain autonomy while gaining access to Hub's extensive resources. The decision to sell was influenced by the potential for growth and improved service offerings resulting from the strategic merger.
Successful Partnership Dynamics and Leverage
The success of JAG Insurance Group and its transition to Hub International can be attributed to the unique dynamics among the partners. Each partner brought distinct qualities to the table, with varied approaches to sales and business operations, creating a balanced and effective team. The strategic decision to leverage their combined strengths and resources within the insurance industry capitalized on market opportunities and propelled their growth to new heights.
Growth and Stability in Business Operations
The podcast episode delves into the evolution of business operations, highlighting the growth and stability achieved after multiple acquisitions. The transition to a decentralized structure with regional hubs, each overseen by a president, resulted in continued autonomy in decision-making. This structure allowed the company to expand its services across geographical areas without being restrained by excessive corporate bureaucracy, ensuring a seamless continuation of operations with the best interests of clients in mind.
Navigating Insurance Industry Changes and Client Benefits
The podcast episode also discusses the transformation within the insurance industry over the past few years, particularly addressing challenges related to rising insurance costs impacting real estate transactions. By proactively collaborating with lenders and providing detailed risk assessment reports, the company successfully helped clients optimize insurance coverage, leading to significant cost reductions. Emphasizing the importance of transparency and client relationships, the team navigated industry shifts to ensure client satisfaction and adaptability in a dynamic market environment, ultimately driving positive outcomes in real estate dealings and insurance coverage.
Doug Jones entered the insurance industry in 2005 and started JAG in 2013 with his partners Luis Gazitua and Fernie Alvarez. JAG grew to be one of the largest independent insurance firms in the Southeast US and was acquired by HUB International in 2022. Currently Doug serves as the President of HUB South Florida, the 5th largest insurance broker in the world. In this conversation, we talk about the difference between being a broker vs. building a brokerage, builders vs. chasers, and how the insurance market has started to normalize.
