Making a difference in a fledgling market by offering the best options and having a range of products that adapt flexibly to the clients’ budgets may seem somewhat unachievable when speaking of an insurance company. Focusing on the underserved communities of the market has also been out of the radar for most companies in the United States.
@acasioinsurance has made a strong stand in the market, all while being a family [-owned and operated company. Created by brothers Angel and Andrés Acasio, the South Florida-headquartered company offers health and life insurance policies throughout the U.S. as well as options for the communities that don’t have as much access to quality insurance plans. Their years of experience in the field as well as their corporate culture, which is mainly focused on customer service and satisfaction, have been key points to enhance their company growth and development.
Currently, Acasio Insurance operates in four states — Florida, Georgia, South Carolina and Texas — and also offers their services in Puerto Rico. The majority of their clients are Latinos, as they consider that this market, for both users and for insurance agents is quite powerful: “We’re betting on a Hispanic initiative to be able to capitalize on areas that were abandoned because they were not part of the English-speaking population in the country”, Andrés Acasio highlighted.
Strategic Agent Hiring and Sales Training Program
Acasio Insurance raises the premise about the importance of the client and extends it to the agents in charge of connecting with the insured. Their hiring strategy allows their agents to work with other companies that have greater industry reputation, so that they are integral and have the correct products at the time of their presentations. This translates into employment opportunities, training and benefits, a work package well above those offered in the market.
Those interested in working within @acasioinsurance must have an insurance producer license (the same company offers the course and orientation to obtain it), have their own vehicle, and speak English or Spanish. If they handle both languages it is a plus at the time of negotiations. Far from the trite expression that it may seem, the new agents must have a desire to excel. This will guarantee them the enjoyment of the many possibilities that the company offers.
In this sense, Andrés Acasio, who runs the company day-to-day with his brother Angel, points out: “Our commissions are amongst the highest in the market. We offer the possibility of contracting with as many companies as the agent deems necessary, since we don’t hold them
captive. We have incentive trips, conferences, monthly, weekly & quarterly bonuses and we also have a market-leading compensation plan.”
The fact that they can work simultaneously with other insurance companies allows them to show alternatives to clients, considering that not all the products of the same company adjust to the different needs of users. In Miami, Orlando, Georgia, South Carolina, Texas and Puerto Rico they already have physical and virtual offices. They will soon have a presence in other states as part of their expansion plan.
Unlike traditional business models, at Acasio Insurance all parties benefit from the standards they use. “Agents are essential in the development of our business, in a relationship perhaps proportional to clients, since without clients we do not have the raw material, but we also need agents willing to help those clients obtain the coverage they are looking for their families”, Angel Acasio explains.
The relevance of the agents' work goes from speech to what is tangible when it comes to motivating them to achieve excellence: “We believe that a universal language in the field of incentives is cash bonuses”, says the director of the insurance company. For this, they manage their agents with a table of bonuses that are paid directly proportional to the results obtained. Plus, they give away trips in and out of the United States. “We also believe in communication and brotherhood within teams, which is why we often feel more like a family than a market, and that always keeps the motivational bar high”, Acasio adds.
Philosophy for Transformation
Acasio Insurance has been built as an integral company thanks to its focus on human talent, combining a sales structure in which they consider customer needs, budgets, alternatives, and variety. They also contribute to the educational and professional transformation of their agents. In this regard, Angel Acasio emphasizes: “Our philosophy is: Dedicate a year of your life to this opportunity and you will have a professional career for life.”
The training they offer aims at creating leaders in the insurance area, who scale different levels until reaching the objective. It all begins with the formation of an own team of advisers, the consequent creation of an agency that finally allows you to generate residual income for life from the businesses you did in the past.
“But also” - Acasio maintains - “for the businesses that are done within your organization every day. Therefore, part of the motivational speech is to encourage them to project themselves into the future and become leaders, in order to guarantee income for life from the work done today.”
Their formula for success was not conceived randomly, so they try to emphasize essential elements such as teamwork and training for the new talents: “Each one is assigned an
experienced salesperson to guarantee success in this new stage of their life, we call it continuing education”, Andrés Acasio says.
With this strategy, the inevitable happens: they achieve high levels of customer and agent service quality, and in this way, they consolidate their strengths.
The Opportunity Is In The Lack Of Service
According to a study published by Edward Berchick (U.S. Census Bureau’s Social, Economic and Housing Statistics Division) in 2017, 4 in 10 uninsured people in the United states are Hispanic. Many US citizens get their insurance from their employers, being the case for most non-Hispanic white employees, yet for the Hispanic population this is not the common denominator. In fact, they are less likely than non-Hispanic whites to receive insurance as a benefit from their employer.
Knowing this, as well as being insurance industry insiders and visionaries, the founders of @acasioinsurance project that the opportunities in the Hispanic market are enormous, considering that just three years ago the development of this area began with an eye on that specific audience. “There is still a lot of fabric to cut, since there are many states in the country that need the development of a sales force and we are betting on any initiative that allows capitalizing those squares”, they highlight. For this they offer an equation that combines the best alternative in policies, takes care of the client's budget and satisfies their needs in this area.
Addressing Covid-19 Pandemic Through New Technology Platform
With the arrival of the pandemic caused by COVID-19 and its obvious consequences, Acasio Insurance has had a notable presence helping the affected families. “But beyond that, a differentiating element is that we have managed to stay active, since we obtained the opportunity to offer our services through video conferences that have opened windows where many other companies and agencies have rather restricted their agents”, Angel Acasio says.
He emphasizes that these are times when clients and agents need the company and that is why they have been in charge of guaranteeing their presence. Likewise, they have sophisticated platforms for teleworking, home offices and videoconferences, which allow them to do quality
consultancies: “And more importantly, giving the agent the tools to produce and the client the opportunity to protect themselves from the safety of their respective homes.”
Growing Is The Challenge
Being quite emphatic, Andrés Acasio declares: “There is no challenge too great for those who have their objectives clear”, and it is precisely this vision that is setting the path for which Acasio Insurance will continue to transit: Reaching as many homes as possible to continue its expansion.
He adds that in this industry, as in any other, “it is often necessary to take steps into the unknown” when seeking to conquer new spaces in the United States territory. “But we are also faithful believers that success goes hand in hand with actions, and from our beginnings we have encouraged our agents to believe beyond what seems possible”, Ángel Acasio says.