While not as flashy as the music industry, one former music executive has found the insurance sector an exciting alternative to the rock ‘n’ roll lifestyle.
The current president and CEO of Ascend Insurance Brokerage Paul Bassman has purchased the company from its founder, James Chippendale. The brokerage opened in 2001 developing insurance solutions for the entertainment industry, such as music festivals and concert venues.
Bassman has been working in the insurance industry for several years now, including a stint as president of Doodson Insurance Brokerage. Before his career in insurance, Bassman was well known in the music industry as a label executive at Capitol Records and manager for bands including Damageplan, Flickerstick and Drowning Pool.
“Coming from a management and A&R background, insurance sales sounded horrible,” Bassman said in an interview with Billboard
“Now, after eight years, I’m much more of a trusted advisor than a salesman to my clients, which I truly enjoy. Nothing makes me happier than when I sign up a new client who expresses their happiness that they finally have an insurance broker who understands their business. I have the unique perspective from seeing the business from their point of view, having been a part of their business.”
Clients of Ascend include Riot Fest in Denver and Chicago, Pitchfork music festivals, and promotor and producer Dave Shapiro.
Bassman said in light of recent tragedies at live music events, specialised entertainment insurance is now more important than ever.
Former owner of Ascend Insurance Brokerage, Chippendale, said he is moving on to a career outside the entertainment industry.
“Ascend will continue to thrive under the direction of the new owner Paul Bassman, and the amazingly talented, committed staff we have assembled,” he said.
From a pub quiz to a major festival, there’s money to be made in events
Proof that charity and insurance can mix