Q&A with Mark Monroe

Mark Monroe is a producer with Griffith Insurance LLP, a full-service independent insurance agency in West Chester, PA. He serves on the IA&B of Pennsylvania Government Relations Committee and formerly served as Chairman of the IA&B of Pennsylvania Board of Directors.

Q. How did you land in the insurance industry? And what prompted you to go independent after beginning your career as a captive agent?

A. Like many of my peers, a family connection. My dad had a 30+ year career as a captive insurance agent. (I’ll give you a hint about what insurance company he worked for: He spent time in an insurance sales office located in a once large, national department store.) So I guess you could say that I grew up in the insurance business.

I eventually joined that same captive insurance company as an employee agent and ran my own location. About 10 years into my career, they made the corporate decision to jettison employee agents. At that point I realized I needed to make a change. I loved the industry and the business of insurance, but I knew that going forward I couldn’t tie myself down and be subjected to the corporate decisions of any one company. In other words I saw the light in becoming independent.

Q. Your agency has a substantial book of personal lines business. How has the market changed over the years, and what do you anticipate moving forward?

A. I would say that technology has definitely leveled the playing field for independent agents. In my experience, the captives and direct writers had an advantage in personal lines up until the early ‘90s. Since the mid to late ‘90s, that advantage moved to independent agents. We have the ability to quote, bind, and issue any insurance company we represent while simultaneously being the best fit (coverage and price) for our clients – all in a matter of minutes.

Going forward, personal lines will continue to see new entrants come to market, be it direct writers, auto makers and smart home builders, and others, especially in light of the capital that is flowing into the insurance and fintech space. Direct-to-consumer insurance companies named after a popular drink or zoo animal seem to be the recent trend and appear to be targeting first-time / new insurance buyers. As independent agents, we need to insulate our future pipelines by targeting and reaching out to our current clients and their next generation.

Independent agents have been doing this for over 225 years. (The first recognized independent agent was John Maynard Davis of South Carolina in 1795!) No computer screen, nor a stranger on an 800 number, can ever compete with independent agents on knowledge, consultative advice, and concern for clients.

Q. What’s the best professional advice you’ve ever received?

A. “Do what you love, and you will never work a day in your life.” I heard that more than once. More importantly,

“Be a sponge, and absorb everything you can.” That’s probably the most appropriate because in business you are constantly learning and, when necessary, adapting.

From an insurance-sales point of view, I was told early in my career that the easiest way to build a personal lines book was to start by going for the “largest door” – referring to the garage door. In other words, go after the car insurance and cross-sell from there.

Q. Thank you for your long-time support of IA&B’s government affairs work. As a member of our IA&B of Pennsylvania Government Relations Committee and newly formed PAC Special Committee, what drives your commitment to political advocacy? And what would you say to other IA&B members to encourage their involvement?

A. Yes, absolutely and happy to serve. I began my involvement on a whim, purely out of curiosity, by attending the Big “I” National Legislative Conference in Washington, D.C. maybe eight years ago. At the time I didn’t know any agents or IA&B staff who were attending and didn’t know anything about the event, so it was definitely a learning experience for me. It was great to see first-hand how our agents’ associations are involved, helping us on the front lines, and to get to know what great people we have on the IA&B staff. I came away from the conference energized and interested to get involved. That led to me attending Member Agent Panel meetings and additional National Legislative Conferences, and then to serving on the IA&B Board.

Philadelphia-area fallen Iraq War Veteran Travis Manion asked, “If not me, then who?” Those words are carried on today by his foundation, and the mantra is fitting for life in general and for getting involved with our industry and IA&B. To those members on the sidelines, I would say, “Get involved. It’s your career and your industry.”

Q. We understand that you’re an avid swimmer. Do you still compete? Tell us about it!

A. Sure, the pool is fresh in my memory as I was in at 6 AM today before coming to the office. Typically I swim four mornings per week for one hour, and I complete 2,000 to 2,500 yards (80 to 100 lengths of pool) per workout.

I’ve been swimming competitively since I was 7 years old. I started out by participating on a summer swim team, the Drexel Swim Club. (I still hold a team record for an event or two!) Then in my teens, I swam at the local YMCA, then more competitively at the Suburban Swim Club and the (infamous) Foxcatcher Swim Club. I continued swimming at Penncrest High School and the University of Delaware and then found my way into U.S. Masters Swimming.

Sadly, the pandemic forced the cancellation of all indoor swim meets in 2020 and so far in 2021, so the last time I swam competitively was back in 2019 for a one-mile ocean swim in New Jersey. I’m looking forward to getting things back to normal!

Q. As we interview you, COVID-19 vaccines are rolling out, and everyone is dreaming of post-pandemic life. What are you looking forward to the most?

A. First is getting back to normal with family gatherings – holidays and birthdays. Second is participating in a Masters Swim Meet again!