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In the heart of the evolving insurance industry, one name stands out as a beacon of Knowledge and leadership: Cheri Martinen. She is the President of Bancorp Insurance, a renowned family-run, independent insurance agency. With extensive experience and in-depth industry knowledge, Cheri efficiently leads a team of licensed agents specializing in commercial, auto, home, life, and health insurance. As a co-host of the popular podcast “Insurance Talk”, she often shares valuable insights on different insurance-related topics, demonstrating her dedication to educating clients and professionals. Her journey, marked by resilience and innovation, serves as a beacon of hope and inspiration for aspiring insurance professionals worldwide.
Leading with Legacy: Cheri’s Approach to Insurance
As a fourth-generation insurance professional, Cheri draws on a rich family legacy to guide her leadership at Bancorp Insurance. Her father, instilled in her the values of perseverance and hard work, teaching her to approach challenges with dignity and grace. Her mother emphasized the importance of lifelong learning, encouraging her to continually invest in her education through reading, peer groups, and virtual courses.
Today, Cheri applies these lessons to leaders in her family insurance agency with a commitment to excellence and community. She prioritizes helping her neighbors and fellow business owners secure the right insurance coverage while fostering a supportive work environment that allows her employee to grow their skills and help others in the community.
Market-Driven Insurance Leadership
Cheri’s background in marketing has shaped her perspective on running Bancorp Insurance. Her marketing expertise has enabled the agency to adopt a growth model focused on promoting services and engaging customers effectively. By leveraging marketing strategies, Cheri can inform customers about the agency’s offerings, allowing agents to provide personalized services instead of solely pursuing sales targets. This approach prioritizes customer needs and fosters a service-oriented culture within the agency.
Navigating New Responsibilities
When Cheri took over Bancorp Insurance from her parents, she faced numerous challenges and opportunities. With her parents having divided tasks between them, Cheri had to strategically determine how to allocate her time to maximize impact on her customers, staff, and overall health of the agency.
To successfully transition into her new role, she had to make key decisions, including hiring additional staff to help with Marketing and Operations. She also had to streamline the agency’s product offerings, discontinuing certain insurance products to focus on high-priority areas. By doing so, she was able to take on new responsibilities like HR, overseeing finance management, and strategy development.
Community Engagement and Business Growth
Cheri ensures that Bancorp Insurance stays deeply connected to the community while remaining competitive through her active involvement in local events and organizations. Cheri regularly attends Chamber Breakfasts, Rotary Club Meetings, Town Halls, Music in the Pines, High School Sports, and Plays.
She also contributes financially to various groups, including the La Pine Pickle Ball Club, 4H, Lodge Pole Dodgers, La Pine Car Club, Central Oregon Dancers Elite, and others. By supporting local initiatives and being a visible presence, Cheri fosters goodwill and demonstrates her dedication to making the agency a positive force in the community.
By growing her business in La Pine, Cheri aims to create a workplace that is renowned for its excellence and commitment to the community, ultimately making the firm a great place to work.
Balancing Local Roots and Niche Experience
Cheri maintains Bancorp Insurance’s unique brand identity by striking a harmonious balance between its local presence and niche-market specialization. The agency actively engages with trade associations and groups within its niche markets, fostering wisdom and building relationships. At the same time, Cheri and her team stay rooted in the Central Oregon community, participating in local events and initiatives. This dual approach feels natural, as the agency’s team members live and work in the same community they serve.
The Power of Community Involvement
Community involvement is deeply important at Bancorp Insurance. For Cheri, giving back to the community is a personal value that extends beyond business. By participating in local organizations like Rotary and volunteering her time and resources, Cheri aims to create a positive impact on the community.
As a parent, Cheri wants to set a strong example for her daughter by demonstrating the significance of community involvement. She believes that individual efforts, when combined, can collectively create a significant difference in the quality of life for everyone in the community.
Defining the “Bancorp Insurance” Brand
When customers hear the name “Bancorp Insurance”, Cheri wants them to think of trusted advisors. The insurance industry is confusing, written by lawyers, and sold on TV by Gecko, Generals, and guys in Khakis. In reality, insurance is a complex financial product that can be a powerful tool for protecting one’s assets and securing one’s future.
By positing insurance as a means to safeguard hard-earned achievements, Cheri focuses on the significance of making informed decisions. Bancorp Insurance aims to empower customers with the knowledge and financial protection they need to navigate life’s uncertainties, whether it is rebuilding after a loss or shielding against unforeseen events. The goal is to be the trusted advisors that guide and support customers in harnessing the power of insurance to protect what matters most.
The Future of Independent Insurance
Cheri believes the independent insurance industry will continue to flourish despite the tech advancement. The rise of online raters was predicted to make agents obsolete, but instead, it highlighted the value of professional guidance. When consumers realized that cheap, inadequate coverage could leave the financially exposed, they wanted a local professional to help them.
As AI becomes part of the industry for underwriting and claims adjusting, Cheri sees an opportunity for the independent agent to add even greater value. While technology can process data, human experience within an industry and industry knowledge is essential for navigating complex situations and advocating on behalf of clients.
By partnering with an agency like Bancorp Insurance, clients can benefit from guidance and personalized service, instead of relying on algorithms to determine their insurance fate. Cheri focuses on investing time in working with experienced agents to create a stable and confident future.
“Insurance is a financial product that, when purchased correctly, can financially save your family from bankruptcy and allow you to rebuild a home, business, or get you back on your feet after an auto accident or lawsuit.”
Embracing Digital Innovation
To thrive in an increasingly digital-first marketplace, Cheri is committed to investing in digital tools to empower Bancorp Insurance to effectively serve its customers. By leveraging technology, the agency can better meet the evolving needs and expectations of its clientele. Guided by her mother’s valuable lessons on the importance of lifelong learning, the leading lady always focuses on continuous learning and growth to meet the challenges of the future.
Bancorp Insurance’s Future Outlook: After 20 Years
Cheri envisions Bancorp Insurance to be a thriving agency that has a positive impact on numerous lives. Success for Cheri and her team is about helping more and more people with their insurance while creating more jobs to support more families in the community. She also aspires to establish her agency as the best place to work in the community and to support more families and business owners on their insurance journeys.
Future Opportunities: Expand Horizons
Cheri is excited about the future growth of Bancorp Insurance, with opportunities spanning niche market expansion, innovative products, and tech-driven solutions. One key area of focus is Wildland Fire Contractors across all 50 states, building on the agency’s existing industry experience.
Bancorp Insurance is also committed to introducing new products to help customers, like Cyber Liability coverage, to address the emerging risks and protect customers’ evolving needs. Additionally, Cheri emphasizes the importance of leveraging technology to streamline processes, enhance customer experiences, and make insurance more accessible. By embracing these opportunities, Bancorp Insurance aims to stay ahead of the curve and keep delivering top-notch value to the clients.
