News Summary
Higginbotham has partnered with Stephens Insurance Services in Lubbock to enhance service offerings across West Texas and eastern New Mexico. By combining resources, the collaboration aims to provide more comprehensive solutions in group benefits, individual health and life benefits, and Medicare advisory services. This partnership prioritizes maintaining personal client relationships while offering the advantages of a larger firm, including better support for local public entities. Both organizations are committed to strengthening connections and enhancing community services.
Texas – In a significant move to enhance regional benefits offerings, Higginbotham has formed a partnership with Stephens Insurance Services, based in Lubbock. This collaboration is set to merge Stephens’ established local relationships with Higginbotham’s extensive resources, aiming to strengthen service capabilities across West Texas and extend into eastern New Mexico.
The partnership is focused on delivering comprehensive solutions to various clients in the region, including complex public sector and commercial accounts. Notably, Rusty Reid, chairman and CEO of Higginbotham, expressed that the combination will elevate service offerings, providing clients with greater convenience and a wider array of solutions.
Stephens Insurance Services, which has been operational since 1997, specializes in three primary areas: group benefits, individual health and life benefits, and Medicare advisory services. Through this new partnership, Stephens intends to expand its offerings while continuing to uphold its core specializations, thus ensuring a seamless experience for clients. This collaboration stems from a longstanding relationship built on referrals for property and casualty coverage between the two firms.
One of the key advantages of this partnership is that it combines the local touch of Stephens with the expansive capabilities of Higginbotham, allowing them to service more complex accounts effectively. Their aim is to provide all necessary services through one recognizable brand, enhancing client convenience and depth of service.
The partnership particularly targets school districts and other public entities through Higginbotham’s public sector division. This move is expected to foster local engagement while delivering specialized services that meet the unique needs of these sectors.
According to Dana Teague, director of operations, Higginbotham’s employee-ownership model and culture played significant roles in the decision to join forces. This structure often fosters a higher level of commitment and service, which aligns with the mission of both companies to prioritize client satisfaction.
Moreover, the owners and brokers at Stephens, Zach Stephens and Rick Kopytkiewicz, have both highlighted the importance of their focus on their established strengths in enabling a successful partnership. They noted the positive feedback they received from other local agents who have previously joined Higginbotham, which significantly influenced their decision to pursue this collaboration.
Rather than a takeover, this partnership is characterized as a supportive collaboration that complements the operations of both organizations. Higginbotham is strategically pursuing growth by aligning with partners that share similar values, which aligns well with Stephens’ history and operational philosophy.
Through this collaboration, both companies are committed to building a robust team that can offer single-source solutions for any client in West Texas. The teams are excited about the potential of working together, particularly in providing local engagement through Higginbotham’s established public sector division while also leveraging specialized services in various sectors.
The broader context of this partnership reflects a commitment to not only enhancing service offerings but also preserving important relationships and community ties within the region. The combination of local expertise and large-firm resources is expected to drive growth and innovation in benefits services, ultimately benefiting businesses and individuals relying on these essential services in West Texas and eastern New Mexico.
Deeper Dive: News & Info About This Topic
- Fort Worth Inc: Higginbotham Acquires Stephens Insurance Services
- Wikipedia: Insurance
- Fort Worth Business: Higginbotham and Stephens Insurance Services Join Forces
- Google Search: Higginbotham Texas Insurance
- Insurance Business: Higginbotham Merges with TX-based Insurance Agency
- Google Scholar: Insurance Mergers
- Insurance Business: Higginbotham Partners with West Texas Insurer
- Encyclopedia Britannica: Insurance Partnerships
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