Gallagher acquires New York-based wholesale insurance broker

Gallagher | March 03, 2020

Global insurance brokerage, risk management and consulting services firm Arthur J. Gallagher & Co. has announced its acquisition of wholesale insurance broker CMS, LLC. Based in Melville, NY, CMS is a full-service wholesale broker working with agents across the United States. The team specializes in placing coverages for construction, importing, wholesaling/distributing, manufacturing, and real estate businesses, as well as personal lines. CMS president and chief executive officer Scott Charney, executive vice president Rich Verdi, and chief financial officer Michael Raab will continue to operate in their current location under the direction of Steve Levin, vice president – Northeast region at Risk Placement Services, Inc. (RPS), a subsidiary of Gallagher.

Spotlight

Customers are now accustomed to digital-first interactions, with Gen-X in particular expecting a frictionless experience. As a result, brokers are having to rethink how they engage with customers in order to meet these expectations.

Increasing competition from a fast-changing industry – through consolidation and new independent digital-only providers – means they must improve customer satisfaction to stay in the game. Ultimately, broker business success relies on engendering long-term relationships with customers (and partners) based on trust.

Spotlight

Customers are now accustomed to digital-first interactions, with Gen-X in particular expecting a frictionless experience. As a result, brokers are having to rethink how they engage with customers in order to meet these expectations.

Increasing competition from a fast-changing industry – through consolidation and new independent digital-only providers – means they must improve customer satisfaction to stay in the game. Ultimately, broker business success relies on engendering long-term relationships with customers (and partners) based on trust.

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