#United States #Great Lakes #Higginbotham #Mishawaka #Synergy Insurance

Higginbotham Expands into Indiana by Partnering with Synergy Insurance

In a significant move, Higginbotham, the employee-owned insurance and financial services firm based in Texas, has established its presence in Indiana through a strategic partnership with Synergy Insurance in Mishawaka. This collaboration not only marks Higginbotham's first venture into the Hoosier State but also promises to enhance the resources available for Synergy's clientele, spanning commercial, employee benefits, and personal lines services. The duo is set to capitalize on a vital growth corridor in the Great Lakes region, which includes states like Michigan, Illinois, and Ohio.

Under the leadership of CEO Rusty Reid, Higginbotham is pursuing a dual growth strategy that emphasizes both organic development and the formation of essential partnerships with independent agencies that align with its core values of client service, community commitments, and employee development. This strategic alliance with Synergy Insurance fits perfectly within this growth framework.

Longer-Term Benefits for Both Firms

"Synergy aligns perfectly with our criteria for expansion into new states," remarked Reid. He emphasized that Synergy has cultivated its reputation over two decades by focusing on operational integrity and community investment. This shared philosophy allows both firms to collaboratively introduce more resources to Synergy's team and clients while setting the foundation for expanding their influence in the broader Great Lakes area.

Synergy Insurance, rooted in the legacy of the Michael Reddy Agency, has experienced significant growth since its establishment. The core team, led by President Mike Reddy Jr., consists of seasoned professionals including Billy Bridwell, Nathan Spite, David Atkinson, and Rick Nystrand, who have all played pivotal roles in the agency’s success. The partnership with Higginbotham comes at a time when Synergy's ownership group has seen its business more than double since 2020, attributed mainly to new client acquisitions.

The Search for a Suitable Partner

Reddy shared insights on the rigorous process undertaken to find the right partner, revealing that they evaluated a variety of firms, including publicly traded entities, mid-sized private equity-backed firms, and startups. Higginbotham stood out due to its unique employee-centric ownership structure and commitment to supporting existing local teams instead of replacing them. "After about 18 months of searching, we consistently returned to Higginbotham as the ideal partner," Reddy stated.

Bridwell added that Synergy's culture, based on core values of teamwork, humility, and a fun atmosphere, resonates well with Higginbotham's organizational ethos. The alignment in corporate values provided a strong foundation for their partnership, fostering confidence among shareholders and employees alike.

Enhancing Client Services

For Synergy's brokers and clients, this partnership translates to a multitude of benefits. Higginbotham's advanced resources and tools will enhance Synergy's capabilities in risk management and compliance — a crucial need in the fast-evolving insurance industry. Nystrand, a commercial insurance expert, highlighted that the partnership equips Synergy with data-driven analytical tools that will elevate their client meetings and strengthen their case for various insurance contracts.

Reddy emphasized that the collaboration will not dilute Synergy's unique identity, insisting that the firm will maintain its relational focus while benefiting from the advanced resources typically available to larger firms. This synergy, as they aptly put it, is designed to empower Synergy Insurance's future, enabling them to scale their business sustainably across northern Indiana and beyond.

About Synergy Insurance

Synergy Insurance Group, based in Mishawaka, Indiana, is dedicated to fostering peace of mind for both businesses and families throughout northern Indiana and southern Michigan. They pride themselves on strong relationships, providing tailored insurance solutions without compromising on quality or ethic.

About Higginbotham

Established in 1948, Higginbotham ranks as the 18th largest independent insurance brokerage in the nation. With a commitment to personalized service and employee ownership, it seeks to adapt to each client's specific needs through a unique model of ongoing support. This collaborative leap into the Indiana market marks an exciting chapter for both Higginbotham and Synergy Insurance, making waves in the insurance landscape of the Great Lakes region.