SouthGroup Insurance Services is celebrating their 100th anniversary this year. According to a Bloomberg report, 80% of businesses fail in the first 18 months. We admire their longevity and are pleased to share their story. The following is an interview with Laurel Branch President, Brad Kent.
What is SouthGroup Insurance Services?
SouthGroup Insurance Services is a full-service independent insurance agency. At our core, SouthGroup provides Property & Casualty and Life & Health insurance to businesses and individuals from a vast array of insurance carriers. However, from the perspective of a business philosophy, we are actively engaged in helping businesses and families assess and manage the risks they face in everyday life. Our mission is to manage risk and build personal relationships and partnerships in an environment of trust, integrity, teamwork and stability.
How did SouthGroup Insurance Services begin?
The story of SouthGroup, while unique, is a familiar story of business evolution like many family owned American businesses. We take great pride in the fact that we have been a locally owned and operated company for 4+ generations.
Our agency has a very long history in Laurel, as we are currently celebrating our 100th birthday. In fact, we have continually served the people of Laurel and Jones County for 100 years. Our earliest roots date back to 1918 with the formation of the Graves, Lindsey & McLaurin agency which was located in the Pinehurst Hotel. In 1929 the business moved into our current location on Central Avenue in downtown Laurel.
SouthGroup Insurance – C.T. Ferrill Building – Central Avenue
My great grandfather, John H. Jones, grew up in Clinton, Iowa, as did several of Laurel’s oldest families. After a successful career as a publisher in Chicago, he ultimately moved to Laurel and opened the John H. Jones Insurance Agency whose first offices were also in the Pinehurst Hotel. Both Graves, Lindsey & McLaurin and John H. Jones continued successful independent operations in downtown Laurel until 1983 when a merger created Graves, Lindsey, McLaurin & Jones (GLMJ). At that time, the companies were operated by Russell Lindsey and my grandfather, Irwin “Skinny” Bradford.
My grandfather died not long after the merger. That’s when my father, Charles Kent, took over as the 3rd generation to lead the agency. GLMJ continued success and consistent growth over the next 30 years. However, times change and industries evolve. Like many industries, market conditions over the last 20 years have changed and driven consolidation within the independent insurance industry.
SouthGroup Insurance Services was first conceived in 2000 by a select group of insurance agency professionals from 12 of Mississippi’s leading insurance agencies. These agencies, widely recognized as industry leaders by their peers, convened to consider the challenges facing successful agencies and the solutions to these challenges that would enable them to offer an incomparable level of service to their clients. Those solutions were the genesis of SouthGroup.
On January 1, 2002, with the official merger completed, those 12 original agencies began operating under the SouthGroup banner with corporate offices in Ridgeland.
Today SouthGroup is the largest independent insurance agency in Mississippi with offices in 22 locations. SouthGroup is also 1 of 2 agencies on Insurance Journal’s list of Top 100 Privately-held Agencies in the United States.
However, the unique quality that SouthGroup possesses compared with other large agencies is our “Main Street approach”. Rather than consolidating all of our offices, SouthGroup has continued operating in each location. This validates our strong belief in the importance of building close, personal relationships with our clients, and serving our local community.
How do you think SouthGroup will be different 5 years from now?
SouthGroup’s plans are to continue to grow. Like most businesses, technology is changing the way that we operate. Whether it’s internal technologies to make our business work more efficiently, utilizing social media platforms to engage the community or transacting business online, technology is changing our business all the time. Today SouthGroup operates “in the cloud” and strives to be as paperless as possible. I predict that we will continue to embrace technology, and therefore it will promote change that presents challenges, but also leads to increased profitability.
Who do you want people to know about your services?
First and foremost, we offer a valuable service to anyone that purchases insurance. As an independent agency, we do not work for a single insurance company. We offer choice, and choice is a vital necessity to promote competition, which leads to value.
More specifically, SouthGroup remains the dominant business insurer in Laurel and Jones County. Whether you are a sole proprietor, or you operate a large enterprise, SouthGroup has the products and services to compete for your business. This includes general liability, commercial property, worker’s compensation, commercial auto and more. Our clients range from small “mom and pop” businesses to several of the largest employers in Jones County.
What is your best advice for those looking to participate in the growth, revitalization and restoration of Downtown Laurel? Our goal as Laurel Main Street is to support our existing businesses and recruit new ones. Why should people want to be a part of Downtown? What have you learned that can help that person on the verge of making the decision to start his or her own legacy as a downtown business?
I am a staunch believer in strengthening from your inner core. Whenever I travel, I am always looking for a downtown area, and I judge the vibrancy of a community on the look and feel I get from the downtown area. Because of this, what is good for downtown Laurel, is good for all of Jones County. As downtown Laurel continues to flourish, this will lead to increased tourism and economic development, which in turn will provide a higher quality of life for our local families and businesses. My recommendation to everyone is that they get involved. This may be as simple as volunteering, or as complex as purchasing downtown property and starting a new business. While it seems that downtown Laurel is reaching critical mass, I believe that this could be just the beginning of something much more substantial for our community. This requires involvement at every level – families, entrepreneurs, the business community and local government must be in lockstep if we want to take downtown Laurel to the next level.