Breckenridge Insurance, one of Insurance Business America’s 5-Star Program Administrators for 2021, is known for delivering specialty programs designed to provide highly effective solutions. In an interview with IBA, Dennis DiCapua, president of programs at Breckenridge, shared the company’s key attributes that have led to its success in this space.
“Breckenridge has been successful in the program space for over 12 years because of the underwriting talent within our group, the quality and longevity of our carrier partner relationships and the level of service and attentiveness that we consistently provide our retail producers,” said DiCapua. To date, the company has 15 specialty insurance programs managed by more than 30 team members in six locations.
Although all of Breckenridge’s specialty programs are important to the team, DiCapua said he is particularly proud of the newer specialty auto programs.
“The business plan and implementation of that program pivoted several times during its first year due to the pandemic. Our program director, Sherry Davis, faced every challenge and persevered through office lockdowns and restrictions on travel and in-person meetings. That program launched successfully,” DiCapua said.
Over the past year, all of Breckenridge’s programs thrived and its underwriting operations were profitable. The property division also benefited from an increase in vacant properties in commercial real estate, which DiCapua described as “an unfortunate effect of the pandemic”. Significant growth was observed in the real-estate investors’ program because of the vibrant residential market and the wide range of portfolios on offer. The launch of new specialty programs, including sports rehabilitation, cryotherapy, fleet leasing, stop-loss health care benefits, and oil and gas consulting, is further proof of the company’s expansion.
Having worked in the insurance industry for over four decades, DiCapua knows what it takes to succeed in the profession. He recalled that in the early part of his career, he identified program administration partners with attributes similar to what Breckenridge possesses, such as “a deep bench of underwriting talent, strong, long-lasting relationships with the retail community, and ease of doing business from the insured retailer, PA and carrier perspective with value added at each step and the mindset and culture of constant improvements in the program offering.”
Success, for an organization like Breckenridge, lies in having highly experienced program directors and staff who understand the marketplace.
“We can anticipate and evolve our offerings to meet the needs of our agents and their clients. We are well resourced to grow and help our agents do the same,” DiCapua said. As the insurance landscape continues to evolve and present new opportunities, Breckenridge aims to pursue more innovative and efficient ways to do business and solve its customers’ problems.