Local Agency Expands Despite Chilly Economic Climate

Libertyville insurance agency owner Sedrik Newbern knew that taking over a Mundelein insurance office would be challenging during the recession, but this businessman didn’t let that deter him from living his dream.

“When I started this agency a year ago, obviously things weren’t great with the economy,” Newbern said of starting his agency in September 2010. “But I thought what better way for me to chart my own destiny and be responsible for my own success. I didn’t let what I saw in the news deter me.”

Newbern worked with Allstate at the corporate office for 11 years before venturing out on his own as an agency owner, and he recently saw an opportunity to merge with a Mundelein Allstate agency, owned by a personal friend.

“He felt that I would make his customers comfortable,” Newbern said. “It’s not like selling a car parts store to another person. We’re dealing with people who have had a catastrophic event in their homes or their lives.”

Adding staff to agency

Effective Sept. 1, Newbern took over the Mundelein office, merging it into his Libertyville-based agency. His staff has grown since starting his business last year. He continues to employ the Mundelein agency’s two employees, bringing his staff to a total of six, and plans to add another sales position to handle the increase in clients.

“I feel proud of the fact that in the midst of what’s been a challenging economy for most people, my decision to go out on my own really made a difference in the lives of some people, while I pursued my dreams,” he said.

Newbern says that the insurance industry and Allstate made the ability to expand slightly easier than for other businesses in different industries.

“Allstate is making decisions to make sure that our customers get the best, most affordable insurance, so I really felt comfortable investing my life savings in this company,” he said. “I felt I’d get the most for the investment. We really do make sure that we are not just selling products, but that we’re educating people and making sure that they’re aware of their options.”

Since insurance is required by law on automobiles and typically by lenders on mortgages, more people have to have insurance, according to Newbern.

More clients want to lower monthly bills

He does admit that the economy has presented challenges when customers want to cut back expenses and lower monthly bills.

“Yes, I can save you $30 here or there, and yes that lowers your premium every month,” he said. “But I’d feel better knowing that I’ve protected you and your assets adequately. The time that you don’t want to find out that you don’t have the coverage is when you need it.”

Newbern also believes that his success is due to his agency’s customer service, something that sets it apart from other agencies.

“All our customers are like family to us,” he said. “My personal passion is to help people and be there for people and be a part of the community. That’s my personal mission.”