TWG Capital – 21st Century Business with Alexander Haig (634 words)
April 22, 2009, CNBC
GENERAL ALEXANDER HAIG:
Insurance agents, agencies and carriers often find it difficult to official obtain
and deploy capital to grow, reposition or sell their business. TWG Capital provides
more insight in the following segment.
CHRISTOPHER THOMAS, Narrator:
TWG Capital was founded in June of 2000 by James Wallace, insurance agent and former
senior executive with Anthem/Wellpoint. Jim dealt with thousands of agents across
the United States, and was aware that many agents’ success was limited by their
ability to get capital to grow their business.
JAMES WALLACE, TWG Capital Founder:
Early in my career I worked with a couple of insurance companies and my role there
was to work with agents in the field. The first thing that I heard from the very
first day I started working with agents is, “Gosh, if I had a little bit more capital,
we could really ramp up our production.”
That was the genesis of TWG Capital providing capital to agents to make them more
successful.
CHRISTOPHER THOMAS, Narrator:
Because TWG Capital’s core expertise is in the insurance industry, they understand
the value of an agent’s book. They realize and treat future insurance commissions
as an asset. They offer agents and agencies the opportunity to access significant
capital by leveraging this asset, without traditional guarantees or excessive fees.
JAMES WALLACE, TWG Capital Founder:
TWG Capital is essentially a bank for insurance agents and carriers. What that means
is we provide capital either as an outright investment or purchase of an asset from
an agency. That capital can be used for any number of purposes. We’re essentially
a bank for the insurance agent, helping them realize their goals and dreams.
CHRISTOPHER THOMAS, Narrator:
Their core market of senior health products has tremendous upside. A growing adult
population combined with increasing longevity and rising health care costs will
continue to propel demand for long-term care and other policies. With that demand,
insurance agents and agencies will need capital for their business.
MELANIE OTTO, TWG Capital President:
One of the challenges that agents face today is meeting the increasing demand of
the consumer base and adapting to their clients evolving needs. As the mass of baby
boomers near age 65 and the follow on generation Y population ages, agents will
need to shift their focus on more senior oriented products as a result and will
likely require capital to survive that transition. TWG Capital is here to provide
the capital to finance those needs.
CHRISTOPHER THOMAS, Narrator:
Today's turbulent times present challenges to all entities. As the market has retreated
from the fallout, access to capital has become scarce and, where available, more
costly. TWG Capital has consistently performed and been successful providing capital
to its clients.
STEVE SANDERS, TWG Capital Client:
I have a marketing company down in South Carolina, Golden Security Senior Advisors,
and we’ve been in the Long-Term Care market for years. But we never had the capital
we needed to expand throughout the United States.
As I worked with TWG Capital, I saw that they were the premier company in the United
States to provide this capital to help my business. Not only did we expand the business
throughout the state of South Carolina, but now we’re going into many other states
thanks to TWG Capital.
CHRISTOPHER THOMAS, Narrator:
TWG Capital offers prospective agents a no-obligation valuation and business solution
consultation to offer solutions that will help you grow your business.
STEVE SANDERS, TWG Capital Client:
I was so impressed with the staff. They are easy to work with, they provided every
piece of information I could ever want and the process was unbelievable! It was
just a couple of phone calls, they called me back a couple of times and then it
was done.
CHRISTOPHER THOMAS, Narrator:
For 21st Century Business, I’m Christopher Thomas reporting.