Conducted by Sally Glick, ACG New Jersey, and principal of the firm and chief growth strategist, SobelCo.
Did you know that the World 90 Integration Process enables smoothly integrated mergers that set it apart from others in the industry?
Despite the data that demonstrates that World Insurance Associates has enjoyed unprecedented growth through acquisition over the last number of years, CEO Rich Eknoian acknowledges that this alone is not unique in the marketplace.
What makes World Insurance Associates stand out from its peers is its World 90 Integration Process.
When its peers in the industry acquire insurance brokers or other companies, they are allowed to refrain from making change and, instead, they continue to run their business along a path that offers the least disruption and the most familiarity.
But World Insurance has taken a different approach. World’s leadership team feels that the World 90 Integration Process has been the key to its success and is what has made it unique in the market. It implements a long-term strategy supported by technology to allow for integration both for its wholesale and retail markets.
World Insurance has set a goal of full integration within 90 days (most firms that are doing it have a 9–12-month time frame). Yet, World is accomplishing full integration of its newly acquired entities within only 84 days! Although during the initial 90 days, there is some disruption to the target entity, this is only in the short run. In the long-term, the company benefits greatly from the ability to rapidly pivot, implementing innovative tactics and collaborative efforts seamlessly. As a result, the company has experienced significantly less attrition after the mergers take place.
The company is also able to access and utilize data from the fully integrated firms more quickly. In this way, it can leverage its combined products and provide customers with more services.
World’s commitment to firm integration also allowed it to bring firms into the fold more easily during COVID-19, as they were working on a shared system and could support new team members more quickly. During 2020, World Insurance integrated 41 new firms, and 50 new firms in 2021.
“As World has continued its successful integration of its acquisitions, the revenue generated during the last three years has resulted in significant growth for the company. Since 2018, World has experienced 682% growth in its annual revenue.”
If you would like to know more about World Insurance Associates’ success and Rich Eknoian’s leadership, come learn more about how and why they are being recognized as ACG NJ’s Corporate Growth Award Honoree.
Please join us on May 5 at the Palace at Somerset Park, Somerset, for networking, plated breakfast, panel presentations featuring our Corporate Growth Award Honorees, and Keynote with our Corporate Lifetime Achievement Award Honoree.
ACG NJ 2019 Corporate Growth Conference & Awards
Thursday, May 5, 2022
7:30 a.m. – 12 p.m.
The Palace at Somerset Park, Somerset