Dawson Insurance has been a main staple in the Fargo-Moorhead business district in North Dakota since 1917. Originally founded by Charles Dawson as a crop insurance agency, Dawson Insurance is now run as an independent agency for other business lines. At the helm of the operation is Charles Dawson’s grandson, Tom.
But Dawson’s outlook on commercial insurance relies on more than a 95-year history and attentive client care. He is also concerned with carving out a niche for Dawson Insurance in both Fargo and the industry in general.
Q: What attracted you to the insurance industry?
A: My grandfather started the business, so I followed into the family tradition. I guess there was a time I thought of going another way, but this has been my career.
Q: What words describe the ideal independent insurance agent?
A: Honest, creative, always willing to learn, service-oriented, and client-focused.
Q: In your opinion, what is the most important thing an independent agent can do to develop their business?
A: Four things:
Q: What do you think is the biggest challenge facing independent insurance brokers today?
A: Size, perpetuation, and the ability to continue growing and be able to offer client services that differentiate you from other agencies. There is a need for agencies to become more knowledgeable even than our clients. Businesses and agencies are getting bigger and doing more business internationally, which requires certain expertise. The increasingly high-tech environment also means we need to keep up with new business models.
There is a tendency for smaller agencies to sell out to larger agencies, which happens because these agency owners haven’t developed a plan to take the business into the next generation.
Q: Where do you see the most room for growth in the industry?
A: Construction, here in Fargo. Our economy never took the 2008 hit, so home building continues to be strong. It’s also fueled in part by the oil fields in western North Dakota.
Technology also increases cyber-liability risks, which creates the need to develop and offer new services.
Q: What’s the strangest thing you’ve ever had to arrange cover for?
A: A rocket, which sits out at the Fargo Air Museum.
Q: If you weren’t in the insurance business, where would you be?
A: Working in the clothing industry.
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