Keith Matting, business insurance advisor, Associated Financial Group
Name: Keith Matting
Title: Business Insurance Advisor
Company: Associated Financial Group
City of Residence: Town of Waukesha
Family: Married to Denise, 30 years. Two children, Kellie, 25, and Kyle, 20
What’s new at your company this year? "Associated Financial Group has continued to expand its customer base and is now one of the top insurance brokerage firms in the country. We rank 43rd in the entire country with more than $55 million in revenue."
What are your most interesting issues you work with clients on? "Our commercial property/casualty division deals with reviewing a business’s financial preservation plan by analyzing exposures to financial loss and resolving those concerns with risk transfer mechanisms such as insurance products, self-funded vehicles, bonds and risk management techniques to reduce and improve exposures to loss."
What is the most difficult or challenging project you’ve been involved with? "In the property/casualty insurance marketplace we are confronted with insurance cycles. When insurance companies generate high profits, they tend to drastically reduce pricing and try to increase market share. As a result, we need to be certain we continue to provide the best coverage available at reasonable prices, with financially sound companies for our customers. Conversely, when insurance companies become unprofitable, they tend to increase pricing and decrease market share, generally creating turmoil for consumers. This time in the cycle is referred to as a hard market, since coverage is harder to place with insurance companies. Our focus still has to be place our customer with the best coverage and pricing available in extremely shrinking market availability. Both types of marketplaces are challenging and re-occurring every few years. Hence the term ‘cycle.’"
What has been the funniest moment of your career? "I don’t believe it was funny at the time, but it is now when I look back at it. Back in 1989 I was scheduled to present an insurance program to a potential customer in Green Bay. It was about a two-hour drive, and I proceeded to take off not realizing a severe storm was in the works. It took about four hours to get there. I did a complete 360-degree skid on the freeway and managed to avoid traffic and plod on to my appointment. My contact was impressed that I kept the appointment and proceeded to give me an order on the account. It is 20 years later and I still have the account."