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New Beginning, Bright Future at Goodman

Goodman brothers start agency to offer contractors' specialized insurance

By Nicole Zwartz | Updated on February 01, 2011
Although the country was facing an overwhelming recession at the time, Justin and Jordan Goodman chose to form Goodman Insurance Services (GIS) in 2008, after severing ties with a larger firm, with the intent to be a one-stop shop for contractors in California. Based in Irvine, Calif., GIS serves only artisan contractors, which provides a competitive advantage from a product knowledge standpoint and a pricing advantage tied with its significant premium volume with contractor specific carriers.

“We formed Goodman so that we could address contractor needs of 60-minute certificate turnaround time, contract reviews, effective claims handling and loss control, along with a comprehensive marketing approach that would guarantee that even the smallest contractor would receive numerous competitive quotes on their insurance renewal,” said Justin Goodman, CIC, CISC, CRIS, president and founder of GIS.

Related: Read January’s Agency Success “Tech-savvy.”

GIS did feel an impact from the recession. From 2008 to 2009, its revenue dropped 45 percent as a direct result of the California housing market collapse. GIS only lost several accounts during that time, but the client’s volume dropped significantly. Clients expected the same great service and pricing even though GIS was making 40 percent less to handle each account.

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