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Member, Beacon International Group, Ltd.
2008 BROKERAGE REVENUE: $47.6 million
EMPLOYEES: 200
Strong technical expertise and the ability to deliver innovative services to niche companies are two key qualities that distinguish William Gallagher Associates Insurance Brokers Inc., the firm's chairman and chief executive officer says.
For the second consecutive year, WGA was voted the best retail brokerage among firms with revenues between $25 million and $50 million for Business Insurance's 2009 Readers Choice Awards.
The Boston-based firm provides brokerage services to “vertical industries” that include renewable energy, information technology, health care, biotechnology and manufacturing.
“Our clients are innovators and oftentimes they are growing faster than the rest of the economy. That creates very specialized needs,” said Philip Edmundson, chairman and CEO. “It's our goal to provide the intense and urgent level of service they require.”
To respond effectively, WGA devises products to help its clients address emerging risks. The firm also uses a “service team” approach in an effort to provide outstanding customer service, he said.
While the brokerage enjoys helping its clients, it also benefits from the unique relationships, Mr. Edmundson said. For example, one of the firm's renewable energy clients pushed the broker to deliver paperless policies. The broker complied, and now offers the same technology and service to other clients.
The broker may pursue some “small and strategic” acquisitions to achieve growth and additional expertise in the next few years, he said. In October, WGA completed its first-ever acquisition when it purchased Medfield, Mass.-based RPG Insurance Administrators Inc.