BXS Insurance Pitch Book - FINAL UPDATED

Building to Last

to provide the highest standard
in insurance services for our clients
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About Us
BXS Insurance is an industry leader in commercial insurance, surety, employee benefits and
private client brokerage services. It is the second largest bank-owned insurance agency in the
nation and has 30 offices across eight states (Mississippi, Louisiana, Alabama, Texas, Arkansas,
Tennessee, Missouri and Illinois). BXS Insurance operates globally as a member of the Worldwide
Broker Network, the fourth largest insurance network in the world. BXS Insurance is a subsidiary
of publicly traded financial services company BancorpSouth (NYSE: BXS). This relationship
provides BXS Insurance with access to capital to invest in growing our organization, to support
the development of our teammates, and to provide best-in-class resources to our clients.
Our team consists of more than 650 insurance and risk management professionals and has
grown over the past 20 years to become one of the “Top 100 consultants of U.S. Business”
according to Business Insurance. Our accolades — both local and national — are a testament to
our culture of teamwork and collaboration, both of which are essential for the operation of a
successful insurance program.
BEST PLACE TO
WORK
in INSURANCE
Business Insurance Magazine
BEST PLACE TO
WORK
in MISSISSIPPI
Mississippi Business Journal
BEST PLACE TO
WORK
in BATON ROUGE
Baton Rouge Business Report
The BXS INSURANCE Difference
Service Experience. Our clients know our names and our faces. We are there when they need
us, and we live in and support the communities in which our clients operate. When our clients
work with us, they experience the exceptional service for which we are known. With a client
retention rate in excess of 97%, we are known for being a strategic partner to our clients.
Global Resources, Local Implementation. Most insurance brokerage firms have access to
excellent products and resources. However, among our new clients, we often find disconnects
between what their former consultant offered and what was actually implemented and
effectively utilized. Our clients have access to global resources with a team that takes a local
approach to implementation.
Technology. Through advanced analytics, we are able to achieve macro-level results by making
micro-level changes. We have the knowledge and skills to leverage data to inform all strategic
decisions with the best, most relevant metrics for quantifying your return on investments. We
were among the first retail agencies to introduce analytics and a data-driven model of managing
insurance, beginning with the launch of our Analytics Division nearly two decades ago. We have
since continued to be the first to introduce many new concepts and innovative solutions, and
have continued to invest in technology and human capital to expand service offerings and to
create a competitive advantage for our clients.
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OUR
HISTORY
A Legacy of Success
It takes GRIT to make it in this business. PASSION
for the work. PERSEVERANCE to overcome the
obstacles. And CONFIDENCE in yourself that you
have what it takes to be successful.
From the late 1800s to today, these qualities have
endured at BXS Insurance. Through a changing
landscape over the past 140 years — world wars,
technological breakthroughs, catastrophic events
and modern marvels — we have only grown
stronger with each passing year.
The BXS Insurance of today was built upon trials
and tribulations, endless determination and an
unwavering commitment to exceeding our clients’
expectations — a commitment that continues to
this day.
J.H. Percy, founder of Wright & Percy agency, which
traces its origins back to 1882.
How BXS INSURANCE was BUILT
1999
2003
2003 2004 2007
2008
STEWART SNEED
HEWES
GULFPORT, MS
WRIGHT & PERCY
BATON ROUGE, LA
RAMSEY KRUG
FERRELL LENSING
LITTLE ROCK, AR
HENRY POWELL
HAMMOND, LA
SOUTHWEST MISSOURI
INSURANCE GROUP
SPRINGFIELD, MO
JOE MAX GREEN /
INSURANCE
CONCEPTS
NACOGDOCHES, TX
2020
2016 2014
2013 2012 2011
ALEXANDER
& SANDERS
BATON ROUGE, LA
WAGUESPACK
INSURANCE
GONZALES, LA
KNOX INSURANCE
LAFAYETTE, LA
GEM INSURANCE
HOUSTON, TX
THE SECURANCE
GROUP, INC.
BREWTON, AL
PERRY
INSURANCE
LAKE CHARLES, LA
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OUR
FUTURE
Where We’re Going
We are expanding our footprint in some of the
fastest-growing markets in the country, including, but not
limited to, Georgia, Florida, Tennessee and northern
Alabama as well as the Austin, Dallas and Houston, TX,
areas.
Our five-year growth plan is ambitious — but achievable.
Known as BXSI 2025, this plan maps a road to becoming a
$200 million agency by the end of 2025. We want to
partner with firms who want to be a part of this vision to
become an more dominating force in the market while still
maintaining our sense of entrepreneurship and creativity.
$200,000,000 in
AGENCY REVENUE
To achieve our vision, we are challenging the status quo. We are leading others through change.
We are supporting and communicating clear organizational goals. We are fostering a culture of
accountability at all levels. And most importantly, we are achieving a modern and industry-leading
customer experience.
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No Binding Agreement
This guide is intended to provide general information about BXS Insurance and no contract or agreement shall be deemed to exist unless and until a definitive
agreement has been executed and delivered. Absent an executed definitive agreement, BXS Insurance shall have no legal obligations of any kind whatsoever
with respect to any contemplated acquisition.
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BY the
NUMBERS
7

BILLION+
in INSURANCE PREMIUMS
ND
MILLION+
in ANNUAL REVENUE
LARGEST
BANK-OWNED
INSURANCE BROKER
in the NATION
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TEAMMATES
OFFICES
TH
LARGEST
INSURANCE BROKER in the NATION
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CONSTRUCTION
MANUFACTURING
TRANSPORTATION
& LOGISTICS
PUBLIC
ENTITIES
MAJOR INDUSTRY VERTICALS
COMMERCIAL
REAL ESTATE
HEALTHCARE
NONPROFIT
HOSPITALITY
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INDUSTRY
INVOLVEMENT
Extensive Insurance Industry Leadership
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The “In” in
Insurance
Influencing the market in which we
work is a fundamental component of
delivering value to our clients. We are
active in multiple outlets that influence
both the insurance market and our
clients’ business interests, including the
Council of Insurance Agents and
Brokers (CIAB), the Worldwide Broker
Network (WBN), The Institutes, The
National Alliance and more.
Congressman Steve Scalise (R-La.) meets with members of the
Council of Insurance Agents and Brokers (CIAB), including
representatives from BXS Insurance.
MARKHAM McKNIGHT
President & CEO
●
●
●
CIAB, Chairman of The Council
Foundation and Former Chairman of
the Board
WBN, Former Chairman of the Board
THE INSTITUTES, Board of Trustees
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CHRIS BOONE
President, Commercial
& Group Solutions
●
●
●
●
CIAB, Board Member and Member,
National Government Relations &
Advocacy Committee
WBN, Member
IIABA, Former State President
MWUA, Former Chairman of the Board
KERRY DRAKE
President Emeritus,
Employee Benefits
●
●
●
CIAB, Former Board Member
CEBE, Former Board Member
BCBSLA, Broker Advisory Council
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SCOTT NAUGLE
President, Consumer Solutions
●
●
CIAB, CIO Working Group
THE NATIONAL ALLIANCE
Chair (2016) and Member (2005-2017),
Society of Certified Insurance
Counselors;
Lecturer, Certified Risk Manager (CRM)
and Certified School Risk Manager
(CSRM) 2008-2012
AIMEE KILPATRICK
Chief Operating Officer
●
●
●
CIAB, Future Advisory Committee
THE INSTITUTES, Chair of Insurance
Broker Advisory Board
THE NATIONAL ALLIANCE, CIC Board of
Governors Chair and Executive
Committee Member
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EXECUTIVE
TEAM
MARKHAM McKNIGHT
President & CEO
BATON ROUGE, LA
CHRIS BOONE
President, Commercial
& Group Solutions
JACKSON, MS
KERRY DRAKE
President Emeritus,
Employee Benefits
BATON ROUGE, LA
BEVERLY CHOPPIN
Chief Financial Officer
BATON ROUGE, LA
AIMEE KILPATRICK
Chief Operating Officer
BATON ROUGE, LA
STEVE ALLISON
Chief Sales Officer
BATON ROUGE, LA
SCOTT NAUGLE
President,
Consumer Solutions
GULFPORT, MS
MELISSA ZORNES
Head of Employee Benefits
Client Services
BATON ROUGE, LA
STACEY PETTYJOHN
Head of Property & Casualty
Client Services
LITTLE ROCK, AR
AMY UNDERWOOD
VP/Director of Sales
Development and Operations,
Employee Benefits
BATON ROUGE, LA
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WHY
BXSI?
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WHY
BXSI?
TAILORED EXIT RAMPS
Each agency owner may desire a different scenario post-sale. We work with
these owners and principals to craft a roadmap that meets their individual
needs and work desires, ranging from deep, ongoing engagement to winding
down leadership and management responsibilities. We approach our clients
in the same way; we know there’s no one-size-fits-all approach, and we want
it to work for you.
AUTONOMY
Entrepreneurship is at the heart of who we are. We provide the tools and
training needed for success, and we foster a culture of autonomy and trust
to move our organization forward through productivity and innovation. We
empower our team to provide the highest quality service, and ultimately do
what’s best for clients.
CULTURE & CONTRIBUTIONS
BXS Insurance is an in-demand place to work, a distinction that is a direct
reflection of a people-centered culture. The organization is transparent
about its goals, successes, challenges and vision. We are consistently named
a Best Place to Work, both in local markets and in the insurance industry.
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FINANCIAL SECURITY
We structure a purchase agreement based what’s most important to the
current owners. We understand that each opportunity to partner with a new
agency looks different, and we will work with you to understand your
financial goals.
TOP TALENT
We are known for recruiting top talent, with several professionals relocating
from across the country to join our team in the past year. This investment in
human capital has been repaid in spades, with the average employee tenure
spanning just over 11 years.
Our employees are set for success from the very beginning, starting with
going back to school – BXSI University, that is. BXSI-U is a weeklong training
session that provides employees with a comprehensive understanding of the
organization, its resources and its competitive strategies.
All employees are encouraged to participate in our Career Development
Program, which provides the opportunity to privately work with a trained
and certified career coach to create individual career action plans to achieve
personal and professional goals.
TIMING & TAX CONSIDERATIONS
An increase in federal capital gains taxes is likely on the horizon, and
concerns on the timing and severity are growing. With more than 700
transactions in 2020, firms are considering today’s current tax rates when
making the decision to sell.
BXS Insurance does not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended
to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before
engaging in any transaction. 23

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EXPERTISE
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DEEP
PRODUCT
KNOWLEDGE
+
TAILORED,
IN-HOUSE
RESOURCES
CONSUMER
SOLUTIONS
EMPLOYEE BENEFITS
DEPTH & BREADTH
of COMMERCIAL
EXPERTISE
RESOURCES
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Learners Today. Leaders Tomorrow.
We believe our teammates are our most valuable assets, and we invest in their expertise and
growth through formal professional development programs .
PRODUCER SUCCESS PROGRAM. The Producer Success Program (“PSP”) is
designed to help new producers and sales associates achieve successful validation. Open to
any unvalidated producer or sales associate, the PSP includes sales coaching, sales training,
technical insurance training, peer exchanges, and activity tracking.
BXSI-UNIVERSITY (“BXSI-U”) is an in-person training program designed to help new
teammates understand BXS Insurance’s culture, leadership, clients, differentiation platform,
customer experience, and client and colleague resources.
CAREER DEVELOPMENT PROGRAM. From self-assessment to one-on-one
meetings with a career coach to regular check-ins on progress, this program provides our
teammates with opportunities to map their personal success.
INTERN PROGRAM. The Intern Program was created to develop a recruitment pipeline
for new BXS Insurance talent. It allows candidates to test-drive positions and gain valuable
training in office/remote work situations. We provide interns a professional, positive
workplace opportunity and experience.
ACCOUNT ASSOCIATE PROGRAM is an exciting opportunity for recent college
graduates with an interest in a career in insurance and risk management. The nine-month
program prepares the Account Associate for a full-time role in client services, claims, sales, or
loss control, with a focus on real-world experience and application.
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Client Resources
LOSS CONTROL | Safety & Training
Proactively prevents, reduces, and manages exposures while reducing frequency and severity of
losses.
CARE | Proprietary Workers Compensation E-Mod Tool
Ensures any open claims reserves are up-to-date and to standard; also verifies E-Mod accuracy.
RISK MANAGEMENT CENTER | Risk Management
A web-based suite of safety and risk management tools designed to create efficiencies. Features
include an Online Training Library, Incident Track/Trending and Claim Reporting, SDS Management,
COI Management, and Job Description Tracking.
ALTERNATIVE RISK STRATEGIES | Program Design
Provides alternatives to the traditional insurance marketplace through pricing verification,
deductible analysis, and captive feasibility.
CLAIMS ADVOCACY | Claims Management
Performs claim reviews, coverage analysis, assistance in negotiations with the insurers’
representatives, and ongoing consultancy throughout the claims process.
PRESS | Loss / Claims Analytics
Tells the story behind the data. Using claims data from the last 5-10 years, we analyze for tendencies
that are not easily uncovered but represent a vast, fixable portion of losses. Using data,
recommendations can be made that ultimately reduce the Real Cost of Risk®.
PEOPLE RISK MANAGEMENT| Human Resources
A cloud-based platform of integrated HR resources and training supported by live HR experts.
Provides training solutions that develop employees, a team of HR experts available to answer any
questions and provide advice, and a resource center.
AdvantageHR | Employee Training
Includes human resources support, staff and management training, and a wide variety of
programs and customized solutions for each client’s business strategy.
PROPRIETARY ANALYTICS PLATFORM | Self-Funded Pharmacy & Medical Reporting
Tracks solution vendors and plan performance; integrates point solution and administrative
partnerships.
COMPLIANCE SERVICES | Benefits Attorney and Team
Provides COBRA, HIPAA, ERISA and Section 125 compliance, ACA plan design and cost analysis,
employer notices review, government filings and audit consulting, compliance audits and more.
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Agency Profiles
Growth Plan
Target Areas
IDEAL AGENCY PROFILE
● Demonstrated commitment to growth
● Value-based selling approach
● Commitment to local communities
● Focused on developing and retaining top talent
● Entrepreneurial spirit
● Desire for continued engagement in the business
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TESTIMONIALS
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“
We had multiple offers to join
other insurance firms. We chose
BXS Insurance because we felt
we could be comfortable there
for the next five years. It has
now been eight years and that is
a testament to the culture at
BXSI and how they respect the
culture of the agencies they
acquire. They allow successful
agencies to be even more
successful using the additional
markets and resources available
at BXSI.
”
ED SCHREIBER
Former President, GEM Insurance
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“
We had a positive transition to
BXS Insurance. When I sold, it
was not a one way street. They
actually listened to our input.
The main thing for me was to
take care of my employees and
BXSI did that. They stepped in
and made them feel welcomed.
”
RANDALL BONAVENTURE
Former CEO, Knox Insurance
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OUR MISSION
Guided by uncompromising honesty and integrity, BXS Insurance strives to
provide innovative and relationship-focused risk management and insurance
solutions in a manner that: exceeds the expectations of our CUSTOMERS,
supports the betterment of our COMMUNITIES, instills pride and passion in
our TEAMMATES, and delivers value to our STAKEHOLDERS.
OUR VALUES
Our PURPOSE is to create value for our clients and our shareholders. We take a
disciplined approach to find the Real Cost of Risk for our clients. We help our
clients control, eliminate or transfer their risk.
At BXS Insurance, we believe in the following values:
●
●
●
●
●
●
●
●
●
Adhering to the HIGHEST STANDARDS OF ETHICS and INTEGRITY
Being OPEN, HONEST and TRUTHFUL in our relationship
MUTUAL RESPECT through empathy, diversity, teamwork, and fairness
DECISIVENESS and AGILITY in our actions
REWARDING RESULTS and ACHIEVEMENTS
ACCOUNTABILITY through holding each other to our standards
COMPASSION, RELATIONSHIPS and SERVICE TO OTHERS by putting human beings first
COMMITMENT to our clients and their needs
OPPORTUNITY to reach full potential through GROWTH and SUPPORT
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LET’S CONNECT
MARKHAM McKNIGHT
President & CEO
PHONE
O: 225-336-3222
M: 225-281-2227
EMAIL
Markham.McKnight@bxsi.com
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