12:12 am
August 23, 2017

Born from a Storm

Boca Raton company becomes one of state’s largest insurers

By Arnie Rosenberg  |  Photography by Larry Wood

Clint Strauch

Clint Strauch

In its own way, Hurricane Andrew gave birth to Florida Peninsula Insurance Co.

When the Category 5 storm unleashed more than $25 billion in damage on Florida in 1992, Clint Strauch already had been an Allstate insurance agent for seven years. He witnessed the massive property damage, as well as the human toll, that was left in the storm’s wake. He also noticed that a number of larger insurance companies were pulling out of the state.

“I saw a lot of smaller companies popping up, and saw that as an opportunity,” Strauch recalls. A few years later, he and a longtime friend were having dinner and began sketching out the idea for a homeowners insurance company – on a napkin.

Today, Strauch is president of the Florida Peninsula family of companies (Florida Peninsula Insurance Co. and Edison Insurance Co.), and that friend, Stacey Giulianti, is the company’s chief legal officer and heads the claims department.

“He was a plaintiff’s attorney and I was an Allstate agent,” Strauch remembers. “I saw how insurance played a really valuable role, especially in Andrew. I saw firsthand some of the damage these people went through.”

It took Strauch and Giulianti another three years after having dinner to fine-tune their business plan to launch what they hoped would be an innovative insurance company, one that would utilize significant technology yet hold onto old-fashioned values. Today, Florida Peninsula and Edison combined make up the 13th-largest homeowners insurance company in the state, with about 120,000 policyholders, $280 million annually in premiums, and 120 employees and 1,500 agents statewide. Its Boca Raton office just expanded nearly 40 percent to 26,000 square feet.

“Our ultimate goal was to be a long-term solution, to provide a stable homeowners insurance solution for the citizens of Florida and to do it in a really friendly way,” Strauch says.

It certainly was a baptism of fire in May 2005 when Florida Peninsula opened its doors, offering only wind insurance.

“We figured 2005 was a great year to start, because in 2004, we’d seen four storms,” Strauch says. “What were the chances of even one storm in 2005? By July, we were surprised by the first storm (Hurricane Dennis), and then, with every storm after that (including Katrina and Wilma), we became even more surprised.”

The storms gave the fledgling company the test it needed and the chance to validate its processes for claims, underwriting and customers service. Strauch and key company officials spent time in the field, making sure their plans worked in the real world, not just on paper.

And after successfully handling 5,000 claims that first year, and watching a number of insurance companies go out of business, Florida Peninsula set its sights on expansion. In 2007, it added fire, theft, vandalism and liability coverage to its portfolio. In 2010, it purchased Edison Insurance Co. with 25,000 policies.

From the outset, Florida Peninsula has stressed cutting-edge technology and user-friendly customer relations. Today, Strauch says, Edison is the only insurance company where shoppers can get an accurate homeowners insurance quote online. However, the company derives much of its success from its diverse board, according to Strauch. In addition to his agency experience and Giulianti’s legal insights, the board comprises a former CEO of Prudential Property & Casualty, a former CFO of Aetna Property & Casualty and two Harvard-trained businessmen.

Seeing challenges in the marketplace through what Strauch calls “multifaceted lenses” remains the company’s strength.

“When you have bigger challenges and you get six people with diverse backgrounds in the room, you can come up with some really great solutions that are nontraditional,” Strauch says. “That diversification has allowed us to tackle some of the challenges that continue to face us in the marketplace.” 

70 comments

  • Hello there! Do you know if they make any plugins to help with Search
    Engine Optimization? I’m trying to get my blog to rank for
    some targeted keywords but I’m not seeing very good results.
    If you know of any please share. Appreciate it!

    Reply
  • Hello! I know this is kind of off topic but I was wondering
    if you knew where I could get a captcha plugin for my comment form?
    I’m using the same blog platform as yours and I’m having trouble finding one?

    Thanks a lot!

    Reply
  • Aw, this was an extremely good post. Spending some time and actual effort to generate a very good article… but what
    can I say… I procrastinate a whole lot and never seem to get anything done.

    Reply
  • I’m really enjoying the design and layout of your site.
    It’s a very easy on the eyes which makes it much more pleasant for me to come here and visit more often. Did you hire out a designer to create your
    theme? Great work!

    Reply
  • of course like your web site but you have to take a look at
    the spelling on several of your posts. Many of them are rife with spelling
    issues and I find it very troublesome to inform the truth however I’ll
    definitely come again again.

    Reply
  • We’re a group of volunteers and starting a new scheme in our community.
    Your web site provided us with valuable info to work on.
    You’ve done a formidable job and our whole community will be thankful to you.

    Reply
  • Howdy very cool website!! Guy .. Beautiful .. Superb ..

    I’ll bookmark your blog and take the feeds additionally?
    I’m happy to search out numerous useful info here within the submit, we want work out extra techniques in this regard,
    thanks for sharing. . . . . .

    Reply
  • Hey there would you mind sharing which blog platform you’re working with?
    I’m planning to start my own blog soon but I’m having a tough time making a
    decision between BlogEngine/Wordpress/B2evolution and Drupal.

    The reason I ask is because your layout seems different then most
    blogs and I’m looking for something completely unique.
    P.S Apologies for getting off-topic but I had to ask!

    Reply
  • Having read this I thought it was very informative.
    I appreciate you spending some time and energy to put this short article together.
    I once again find myself spending a lot of time both reading and posting comments.
    But so what, it was still worth it!

    Reply
  • Hiya! Quick question that’s totally off topic.
    Do you know how to make your site mobile friendly?
    My blog looks weird when browsing from my iphone. I’m trying to find
    a theme or plugin that might be able to correct
    this issue. If you have any recommendations,
    please share. Appreciate it!

    Reply
  • Howdy I am so excited I found your blog page, I really found
    you by mistake, while I was researching on Aol for something else, Anyhow I am
    here now and would just like to say thank you for
    a fantastic post and a all round exciting blog (I also love the theme/design), I don’t have
    time to browse it all at the moment but I have book-marked it
    and also added your RSS feeds, so when I have
    time I will be back to read a great deal more, Please do keep up the excellent work.

    Reply
  • May I just say what a relief to uncover an individual who actually knows what they are discussing
    on the web. You actually know how to bring an issue
    to light and make it important. More and more people really need to
    check this out and understand this side of your story.
    I can’t believe you aren’t more popular since you definitely have the gift.

    Reply
  • My spouse and I stumbled over here by a different page and thought I may as well check things out.

    I like what I see so now i am following you. Look forward to finding out
    about your web page for a second time.

    Reply
  • I’m curious to find out what blog system you’re utilizing? I’m experiencing some small security
    problems with my latest blog and I would like to find something more safe.
    Do you have any recommendations?

    Reply
  • Please let me know if you’re looking for a article writer for your blog.

    You have some really good articles and I believe
    I would be a good asset. If you ever want to take some of the load off,
    I’d love to write some material for your blog in exchange
    for a link back to mine. Please send me an email if
    interested. Regards!

    Reply
  • Incredible! This blog looks just like my old one!
    It’s on a totally different topic but it has pretty much
    the same layout and design. Superb choice of colors!

    Reply
  • Hello! Someone in my Facebook group shared this website with us so I came to check
    it out. I’m definitely loving the information. I’m bookmarking
    and will be tweeting this to my followers! Excellent blog and outstanding design.

    Reply
  • Good day I am so thrilled I found your weblog, I really found you by accident,
    while I was looking on Aol for something else, Anyhow I am here now and would just like to say thank you
    for a incredible post and a all round enjoyable blog (I also love the theme/design), I don’t have time to go
    through it all at the minute but I have saved it and also added in your RSS feeds, so when I
    have time I will be back to read much more,
    Please do keep up the excellent job.

    Reply
  • I do consider all the ideas you’ve offered to your post.
    They are very convincing and can certainly work. Nonetheless, the posts are too short for starters.
    Could you please lengthen them a little from next time?
    Thanks for the post.

    Reply
  • Attractive component to content. I simply stumbled upon your site and in accession capital to
    say that I acquire actually loved account your blog posts.
    Anyway I’ll be subscribing for your feeds and even I success you get entry to consistently rapidly.

    Reply
  • You’re so cool! I don’t believe I’ve truly read through anything like that before.
    So nice to discover another person with unique thoughts
    on this subject. Really.. thanks for starting this up.

    This web site is something that is needed on the internet, someone with a bit of originality!

    Reply
  • Its like you read my mind! You seem to know so much about this,
    like you wrote the book in it or something. I think that
    you can do with a few pics to drive the message home a bit, but other than that,
    this is excellent blog. An excellent read. I will definitely be back.

    Reply
  • Does your site have a contact page? I’m having trouble locating it but, I’d like to send you an e-mail.
    I’ve got some creative ideas for your blog you might be
    interested in hearing. Either way, great website and I
    look forward to seeing it expand over time.

    Reply
  • Do you mind if I quote a couple of your posts as
    long as I provide credit and sources back to your
    site? My blog site is in the exact same niche as yours and my users would truly benefit from some of the information you present here.
    Please let me know if this okay with you. Many thanks!

    Reply
  • Aw, this was a very nice post. Taking a few minutes and actual effort to generate a good article… but what can I say… I procrastinate a
    lot and never manage to get anything done.

    Reply
  • Hello very cool site!! Guy .. Beautiful .. Amazing ..
    I will bookmark your web site and take the feeds also?
    I am happy to find so many useful info right here within the put up,
    we’d like develop more strategies in this regard, thank you
    for sharing. . . . . .

    Reply
  • Its like you read my thoughts! You seem to grasp a lot approximately this,
    such as you wrote the e book in it or something.

    I feel that you could do with some % to power
    the message home a bit, but other than that, that is
    magnificent blog. A fantastic read. I will certainly be back.

    Reply
  • An outstanding share! I’ve just forwarded this onto
    a colleague who has been conducting a little research on this.
    And he in fact bought me dinner because I discovered
    it for him… lol. So let me reword this…. Thanks for the meal!!
    But yeah, thanx for spending some time to talk about this issue here on your internet site.

    Reply
  • Hi! I know this is kind of off topic but I was wondering if you knew where I could find a captcha plugin for my comment form?
    I’m using the same blog platform as yours and I’m having problems finding one?
    Thanks a lot!

    Reply
  • That is very fascinating, You’re an excessively professional blogger.
    I’ve joined your feed and look ahead to in the hunt for more of your
    wonderful post. Additionally, I have shared your site in my social networks

    Reply
  • Hello There. I found your blog using msn. This is a very well written article.

    I will be sure to bookmark it and return to read more of your useful
    info. Thanks for the post. I’ll certainly comeback.

    Reply
  • After checking out a number of the blog articles on your site, I really appreciate your
    technique of blogging. I saved it to my bookmark website list and will be checking back soon. Take a look at my web site as well and let me know your opinion.

    Reply
  • Hello! Do you know if they make any plugins
    to help with Search Engine Optimization? I’m trying to get my blog to rank for some targeted keywords but I’m not seeing very good gains.
    If you know of any please share. Appreciate it!

    Reply
  • Hi, There’s no question that your net may possibly be feeding on internet browser compatibility problems. When I choose a visual appearance at your web site inside of Safari, it seems good Sadly, if opening inside of I.E., it is made up of some overlapping difficulties. I only ideal towards supply by yourself with a effortless heads up! Other than that, exceptional web-site!

    Reply
  • I am curious to find out what blog platform you have been working with?
    I’m having some small security problems with my latest website and I would like to find something more risk-free.
    Do you have any solutions?

    Reply
  • Thanks a lot for sharing this with all of us you really know what you are talking approximately!
    Bookmarked. Kindly also visit my website =).

    We could have a link change contract between us

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *