How competition drives this insurance pro's success

How competition drives this insurance pro's success | Insurance Business

How competition drives this insurance pro

Just like any other kid who grew up in a family heavily involved in sports, Parker Rains (pictured) used to dream of becoming a professional athlete.

When he was in high school, Rains enthusiastically took part in almost every sport but he shone the most when playing football. In a previous interview with Crain’s, he said the competitive spirit he learned from playing sports is fundamental to his success as an insurance professional.

Rains currently serves as senior vice president at Fisher Brown Bottrell Insurance and heads the firm’s Nashville office, which covers the Tennessee and Alabama markets. He joined the firm in 2007 as an insurance agent. Since becoming a producer in 2010, Rains has managed to maintain one of the largest book growths within the firm. He was also instrumental in the establishment of two offices from scratch.

Insurance Business had a brief chat with Rains to get to know how he started his career in insurance.

Tell us how you got into the insurance industry, what led you to this career?
I was in real estate title closings and when the market crashed. I knew I wanted to stay in the insurance world so I looked at what all was available. I was in my early 20s and I just looked around and noticed that all the people in insurance at some level had nice houses, cars, and clothes. I was like, “I’ll just do that”! Little did I know that it is not as easy as it looks.
 
What or who do you think has been the secret to your professional success? How do they motivate you?
The biggest motivation for me is the competition and hating to lose. Another motivation for me is refusing to quit. I benchmark myself off of others in the industry and push to beat what they’re doing whether it is education or sales. There is some really sharp young talent coming up, so you better stay sharp!
 
Tell us briefly about your company and its role in the insurance industry. What makes it different from other companies in the same space?
Fisher Brown Bottrell is on the cutting edge of what can be a quite commoditized business. We continue to invest in people and technology which will in turn make help our clients be safer and more profitable businesses. I feel like we are very flexible for a Top 50 privately-held firm. Doing business with us very much feels like we are part of your executive management team and not just someone who “sells you an insurance policy every year”. I believe that is why our client retention remains so high in an ultra-competitive environment.
 
What do you think are the most challenging issues facing the insurance industry today?
I think the most challenging issue in the industry today is agency perpetuation.
 
What advice can you share for those wanting to join the insurance industry?
I feel it’s a good industry and can be a long-term stable career. There is something for everyone – account or agency management, production, etc. On the production side, it can offer freedom but it is not for the faint of heart – it’s filled with many highs and lows.
 
Is there something about yourself that you are working on improving?
Being a better listener!
 
If you were not working in the insurance space, what would you be doing now?
Sports agent or high-end realtor.
 
What are your passions or hobbies outside insurance?
Traveling, gym, cars, and golf as little as possible. We are expecting a daughter this summer so I’m happy to say that is now my main hobby!