BINGHAMTON, N.Y. — Savitch Agency, an independent insurance-brokerage firm in Binghamton, has partnered with Acrisure, LLC a Caledonia, Michigan–based insurance-brokerage firm. The deal closed a few months ago, says Jamey Savitch, agency principal, VP of the Savitch Agency. The partnership discussions began in 2019, he told CNYBJ on Oct. 30. “They were looking for a […]
BINGHAMTON, N.Y. — Savitch Agency, an independent insurance-brokerage firm in Binghamton, has partnered with Acrisure, LLC a Caledonia, Michigan–based insurance-brokerage firm.
The deal closed a few months ago, says Jamey Savitch, agency principal, VP of the Savitch Agency. The partnership discussions began in 2019, he told CNYBJ on Oct. 30.
“They were looking for a new agency partner in this area and they approached us,” says Savitch.
The Savitch Agency has 11 employees and services more than 1,500 clients in 28 states.
“It’s a true partnership where we are now shareholders … they own the assets but on the other side of the fence, we are shareholders of Acrisure,” says Savitch.
Under its deal with Acrisure, the Savitch Agency continues operating under the same name and with the same employees, according to Savitch. It allows the business to go “next level” by expanding its resources with “enhanced” access to the insurance marketplace, per the agency.
“When we’re servicing clients in Utah or California or Georgia, it just really allows us to go next level with the services and support for all our clients, including [those] in the Southern Tier but also outside the Southern Tier,” Savitch says.
By partnering with Acrisure, Savitch Agency will now have access to a “deep bench” of technological, administrative, and operational support specialists and increased purchasing power in the global insurance marketplace, “while keeping business as usual on a local level,” the Savitch Agency contends.
“We do very little construction business. Now, we’re able to do a lot of construction business,” Savitch explains.
On its website, Acrisure describes itself as a “community of agencies — united by our shared passion for growth and excellence. Our entrepreneurial partners maintain local autonomy while having access to best-in-class resources from our Home Office teams. This unique approach makes us an attractive home for entrepreneurs planning their long-term perpetuation and for clients seeking high levels of service.”
Majority-owned by the operating partners and management team, Acrisure says it has 200 agency partners with more than 200 locations in 37 states, 14 international locations, and more than 6,000 employees.
Savitch tells CNYBJ that his agency represents insurance carriers that include the Travelers Companies (NYSE: TRV), Hartford Financial Services Group Inc. (NYSE: HIG), Chubb Limited, Ace American Insurance Company, the Hanover Insurance Group (NYSE: THG), and American International Group, which is also known as AIG (NYSE: AIG).
The agency offers personal lines of insurance, including home and auto. It also has a life and health division that handles employee benefits and a commercial unit that works with the agency’s commercial clients.