Schaefer Enterprises, based in in the SoHo district of New York City, has made a name for itself by specializing in small doctors’ offices, urgent care clinics and local construction practices.
President and founder Greg Schaefer took time out to speak with Insurance Business about his own story and what makes for a successful insurance agency in the city that never sleeps.
Q. How did you get your start in the insurance industry?
A. My father owned an insurance agency out on Long Island since 1975, and when he started getting older and talking about a perpetuation plan, he convinced me to leave Wall Street and come out and work for him. The agency is still in existence today—my brother runs it.
I moved to New York City with my wife, who worked there and founded Schaefer Enterprises. I started with two employees and we’ve currently got about 12.
Q. You’ve grown significantly in recent years. What would you say is the secret to your success?
A. Our mindset is to sustain growth regardless of whether we’re in a hard or soft market. There are two things that separate use from the bigger houses—the first is top notch customer service. We strive to respond to emails or voicemails within minutes, instead of within hours or days.
The second thing is our product knowledge. We try to concentrate on areas we’re very good at. I like to think we excel in those sectors.
