Company Profile: Worldwide Insurance Agency

Background

Worldwide Insurance Agency is an independent insurance brokerage firm headquartered in New York City, with additional offices in Brooklyn, NY. Established in 1984, the agency has over 30 years of experience in providing tailored insurance solutions. Its mission is to offer a concierge client experience, granting clients the power of choice from top-rated national and regional insurance carriers. The agency specializes in serving the real estate, construction, and hospitality sectors, establishing direct partnerships with most real estate insurance carriers.

Key Strategic Focus

Worldwide Insurance Agency's strategic focus centers on delivering customized insurance solutions with an emphasis on:

Choice: As an independent agency, it maintains relationships with numerous reputable insurance companies, providing clients with a broad spectrum of options.

Expertise: The agency's advisors possess extensive experience in the insurance industry, acting as advocates for clients from coverage selection through claims processing.

Service: A strong commitment to customer service is evident, with advisors treating clients like family and assisting them through various life and business changes.

The agency's primary markets include the real estate, construction, and hospitality industries, where it has developed specialized programs and direct partnerships to meet the unique needs of these sectors.

Financials and Funding

As a privately held company, specific financial details and funding history of Worldwide Insurance Agency are not publicly disclosed. The agency operates independently, focusing on delivering value to its clients through personalized insurance solutions.

Pipeline Development

Worldwide Insurance Agency continually develops and refines its insurance programs to address the evolving needs of its clients. This includes creating exclusive programs, accessing other programs, and making placements within the open market when advantageous to the insured. The agency's real estate division, in particular, writes business within its own exclusive programs and establishes new ones to better serve clients.

Technological Platform and Innovation

While specific proprietary technologies or scientific methodologies employed by Worldwide Insurance Agency are not detailed in publicly available sources, the agency leverages its extensive industry experience and relationships with various insurance carriers to offer innovative and customized insurance solutions. This approach ensures clients receive coverage that aligns with their specific needs and circumstances.

Leadership Team

The leadership team at Worldwide Insurance Agency comprises experienced professionals dedicated to providing exceptional service and expertise. Key members include:

Steve Baum: Owner

Sherman Breier: Project Specific

Malkie Gt: Account Executive

Jr Breier

Danielle Montevergine

These individuals bring a wealth of experience and a commitment to client advocacy, ensuring the agency's continued success and growth.

Leadership Changes

There are no publicly available records indicating recent significant changes or appointments within the leadership team of Worldwide Insurance Agency.

Competitor Profile

Market Insights and Dynamics

The insurance brokerage industry is highly competitive, with numerous firms offering a range of services to diverse client bases. The market is characterized by a mix of large multinational corporations and smaller, specialized agencies. Key trends include a focus on personalized service, technological integration, and the development of industry-specific insurance programs.

Competitor Analysis

Key competitors in the insurance brokerage industry include:

Lockton Companies: The world's largest privately held insurance brokerage firm, offering services in risk management, employee benefits, and more.

Brown & Brown, Inc.: A publicly traded insurance brokerage firm specializing in risk management, with over 450 locations worldwide.

Clements Worldwide: An insurance provider offering solutions for expatriates and international organizations, with a focus on global coverage.

These competitors offer a range of services and have established significant market presence, contributing to the dynamic and competitive landscape of the insurance brokerage industry.

Strategic Collaborations and Partnerships

Worldwide Insurance Agency has established direct partnerships with most real estate insurance carriers, enhancing its ability to provide specialized and comprehensive coverage options to clients in the real estate sector. These collaborations strengthen the agency's market position and innovation capacity.

Operational Insights

In relation to major competitors, Worldwide Insurance Agency differentiates itself through its boutique service model, offering personalized and attentive service akin to a smaller agency while maintaining a national presence. This approach allows the agency to deliver creative solutions, flexible underwriting, and specialized expertise, particularly in property accounts.

Strategic Opportunities and Future Directions

Looking ahead, Worldwide Insurance Agency is poised to capitalize on its strengths in personalized service and industry specialization. Opportunities for expansion include:

Technological Integration: Enhancing digital platforms to streamline client interactions and policy management.

Program Development: Creating new insurance programs tailored to emerging market needs and industry trends.

Geographic Expansion: Extending services beyond the Tri-State Area to reach a broader client base.

By leveraging its established relationships and commitment to client advocacy, Worldwide Insurance Agency is well-positioned to achieve these objectives.