As globalization becomes a business fact of life for more and more firms, regardless of size or home-office location, it has become increasingly important for insurance producers to increase their ability to place international business.
In turn, says Kapnick, the firm developed a greater comfort level in executing international placements for U.S. companies. As the economy has improved, the firm’s clients are showing more interest in international risk-management advice as they look to overseas markets for business.
“We understand the international market,” he adds. “We have gained the relationships and feel we can go in and leverage national accounts with our knowledge. Nothing is easy; you have to commit the time and resources to doing it.”
Membership allowed CFR to form partnerships that helped develop ideas, let the firm gain from others’ experience and gave it access to brokers in overseas markets that could help manage its clients’ risks in foreign locations.
Today, CFR has 110 employees and generates in excess of $200 million in premium. Its client sweet spot is upper- and middle-market companies predominately within the geographic footprint of its offices in Tulsa and Oklahoma City that do business abroad.