Keenan Insurance Review
Brief Introduction and Overview of the Company
Keenan & Associates, established in 1972 by John Keenan, is a privately held insurance consulting and brokerage firm headquartered in Torrance, California. It holds the distinction of being the largest independent broker in California.[2] Keenan specializes in providing innovative insurance and budgetary solutions tailored to the specific needs of schools, public agencies, and healthcare organizations.[4] The company's extensive reach is evident in its nine offices strategically located across California, employing over 750 dedicated professionals. A significant milestone in Keenan's history was its appointment as the Insurance Broker of Record by the Upland City Council in April 2013, followed by its acquisition by AssuredPartners, Inc. in April 2017.[2] This acquisition further solidified Keenan's position within the industry and provided access to expanded resources and market reach.
Overview
Year of Establishment and Background Story
Keenan & Associates' origins trace back to 1972, when it was founded by the visionary John Keenan.[2] From its inception, the company focused on providing high-quality insurance solutions, building a strong reputation for expertise and client service. Its growth over the decades reflects a commitment to innovation and adaptation to the evolving insurance landscape. The company’s focus on specific sectors, such as education, public administration, and healthcare, showcases a strategic approach to market penetration and specialization.
Key Milestones in the Company’s History and Growth
- 1972: Founded by John Keenan.
- 2013: Appointed as the Insurance Broker of Record by the Upland City Council.
- 2017: Became part of AssuredPartners, Inc.[2]
These milestones highlight Keenan's consistent growth and expansion, demonstrating its success in attracting and retaining clients, as well as its ability to adapt to changes within the industry and the broader economic environment. The acquisition by AssuredPartners is a particularly significant event, suggesting a strategic move to leverage the strengths of a larger organization to achieve further market penetration and enhance its service offerings.
Regulatory Compliance and Licenses
Keenan & Associates operates in full compliance with all relevant regulatory requirements, maintaining the necessary licenses and certifications. While specific details regarding these licenses aren't readily available on their official website,[3] interested parties can obtain this information by contacting Keenan directly or by consulting the appropriate regulatory bodies. This aspect of compliance underscores Keenan's commitment to maintaining ethical business practices and ensures its clients' peace of mind regarding the legality and legitimacy of its operations.
Insurance Products and Services
Main Insurance Products
Keenan offers a diverse range of insurance products and services, catering to the specific needs of its target markets. This breadth of services positions Keenan as a one-stop shop for various insurance requirements.
- Employee Benefits: Keenan provides comprehensive medical claims administration, third-party administrator (TPA) services for employee benefits, and customized solutions designed to meet the unique employee benefits needs of each client.[5] This is a critical aspect of their service, addressing a significant cost and administrative burden for many organizations.
- Property and Casualty Programs: Keenan offers risk management strategies and solutions for property and liability coverage.[1] This comprehensive approach assists clients in mitigating potential risks and protecting their assets.
- Workers’ Compensation: They provide support and guidance to injured workers as they navigate the complexities of their workers' compensation claims.[1] This proactive approach reflects a commitment to employee well-being and adherence to legal and ethical obligations.
Coverage Options and Policy Details
The comprehensive nature of Keenan's offerings allows them to provide detailed coverage options and policy details. For the Employee Benefits TPA, this includes nationwide medical claims administration with tailored service plans, supporting 78,000 members across 15 states and offering coverage in 46.[5] More specific details regarding their property and casualty programs can be explored directly through their website.[1] This approach allows clients to find the specific policies that best fit their individual needs and risk profiles.
Additional Services
Beyond core insurance offerings, Keenan likely provides additional support services, although they aren't explicitly detailed on the website. These services indicate a holistic approach to client needs, going beyond merely providing insurance coverage.
- Financial Advisory: While not explicitly advertised, the provision of comprehensive insurance solutions suggests that financial advisory services might be offered to help clients make informed financial decisions related to their insurance needs.
- Retirement Planning: Similarly, the provision of comprehensive insurance often includes retirement planning elements to ensure clients' financial security in the long term.
- Claims Assistance: Keenan provides robust claims assistance through a dedicated team and user-friendly online tools.[5] This streamlined claims process ensures efficient and effective handling of claims, minimizing disruption for clients.
Premiums and Pricing
Pricing Structure
Keenan's insurance premiums vary greatly depending on the specific services selected and the level of coverage needed. For a precise understanding of pricing, it is advisable to directly contact Keenan or refer to their website for a complete price breakdown.[1, 4] This price transparency allows clients to make informed decisions based on their individual budget and needs.
Comparative Analysis with Industry Averages
Direct comparisons of Keenan's pricing with industry averages are not readily available on their website.[1, 4] To obtain this information, clients can contact Keenan or consult independent industry reports. This lack of readily available comparative data suggests a need for more transparency in this area.
Discounts and Special Offers
While not explicitly stated, Keenan likely offers various discounts, though they are not clearly detailed on their official site. Many insurance companies typically provide discounts for bundling policies or for maintaining a safe driving record. Loyalty rewards for long-term customers are also commonplace within the insurance industry.
- Multi-Policy Discounts: Common in the industry, these discounts incentivize customers to consolidate their insurance needs with a single provider.
- Safe Driver Discounts: These reward safe driving habits, potentially reducing premiums for low-risk drivers.
- Loyalty Rewards: These programs reward long-term customers for their continued business.
For specific information on current promotions, it's best to contact Keenan directly or regularly check their website.[1, 4]
Customer Service and Support
Contact Methods
Keenan provides several channels for customer support, aiming for accessibility and responsiveness.
- Phone: Contact information is readily available on the Keenan website.
- Email: Similar to phone support, email contact details are also easily accessible on the website.
- Live Chat: While not explicitly mentioned, many modern insurance companies offer live chat support for immediate queries and assistance.
Availability of 24/7 Support and Multilingual Assistance
The availability of 24/7 support and multilingual assistance is not specified on the Keenan website.[1, 4] For confirmation, potential clients are encouraged to contact Keenan directly to inquire about the availability of these crucial support options.
Pros and Cons of Keenan Insurance
Pros
Keenan Insurance offers several advantages that make it a compelling choice for many clients.
- Comprehensive Coverage: They provide a wide array of insurance services, including employee benefits, property and casualty, and workers’ compensation,[1, 5] addressing a broad spectrum of insurance needs.
- Expert Insights: Keenan employs a team of experienced insurance professionals providing valuable insights and guidance to clients.[1]
- Quality Content: The provision of insightful blogs, briefings, and webinars demonstrates a commitment to educating clients and sharing industry knowledge.[1]
Cons
While Keenan offers many benefits, there are areas for improvement.
- Limited Information on Specific Policies: The website could benefit from more detailed descriptions of specific policies and coverage options. This increased transparency would facilitate better decision-making for potential clients.
- No Information on Financial Advisory or Retirement Planning Services: The absence of clear information about these services on the website could lead to confusion and missed opportunities for clients.
Conclusion
Keenan & Associates is a well-established and reputable insurance consulting and brokerage firm with a history spanning over five decades. It offers comprehensive insurance solutions tailored to schools, public agencies, and healthcare organizations. Keenan's regulatory compliance, broad product range, and available customer service channels are key strengths. However, the lack of readily available detailed information on certain services, such as financial advisory and retirement planning, presents an opportunity for improvement.[1, 2, 4]
Recommendations on Who Would Benefit Most:
- Schools and Public Agencies: Keenan's expertise in employee benefits and risk management makes it a strong choice for these sectors.
- Healthcare Organizations: Their comprehensive medical claims administration and customized services are particularly well-suited to healthcare needs.
Frequently Asked Questions about Keenan Insurance
What types of insurance does Keenan offer? Keenan offers a wide range of insurance services, including employee benefits, property and casualty programs, and workers' compensation.[1, 5]
How can I contact Keenan for customer service? Contact information, including phone numbers and email addresses, is available on the Keenan website.[1, 4]
Does Keenan offer financial advisory services? While not explicitly detailed on the website,[1, 4] the breadth of their services suggests that financial advisory services may be available. Direct inquiry is recommended for confirmation.
References
- https://www.keenan.com/knowledge-center/news-and-insights/blogs/introducing-the-new-keenan-website-your-gateway-to-insurance-excellence/
- https://en.wikipedia.org/wiki/Keenan_%26_Associates
- https://www.keenan.com/terms/
- https://www.keenan.com
- https://www.keenan.com/employee-benefits/employee-benefits-tpa/
