PillarIA

Independence in insurance is not merely a buzzword; it is a fundamental factor that can significantly impact a client’s experience and outcomes. The essence of independence in insurance agencies lies in their autonomy from an insurance provider, a strategic positioning that enables a comprehensive exploration of diverse options across multiple carriers. This autonomy fosters an agency’s ability to adapt effortlessly to changing market trends and client needs, a quality of immeasurable value in today’s dynamic environment.

Pillar Insurance Associates (PillarIA) illustrates this ethos. Functioning as a one-stop insurance agency, it delivers flexible insurance solutions designed to meet the needs of individuals and businesses. From personal and commercial auto insurance to specialized coverage like cyber liability and professional liability insurance, PillarIA ensures that clients receive comprehensive protection across all aspects of their lives and businesses.

PillarIA’s approach is grounded on the notion of offering choice and clarity. After initiating the client engagement process with a few handpicked options, the agency elucidates the advantages and subtleties inherent in each, empowering clients to make informed decisions. This strategic flexibility is demonstrated not only in the optimal coverage provided but in achieving superior value, whether through policy bundling for better convenience or comparison across carriers to secure favorable rates and terms.

“We take pride in representing our client’s interests over those of specific carriers,” says Tyler Berntsen, founder of PillarIA. “We are dedicated to securing the best rates and coverage options to form lasting relationships.”

While the agency’s value is unquestionably engaging, equally fascinating is the genesis of PillarIA, which traces back to the founder’s formative years at Gladstone Wealth Group. Here, under the mentorship of Robert Hudson, a luminary in the financial services sphere, the seeds of PillarIA were sown.

Hudson’s vision was to redefine conventional client service paradigms. He advocated for a personalized and holistic approach that transcended corporate rigidity. His vision became a reality when he developed a comprehensive service hub that offered clients tailored solutions in wealth management, insurance and estate planning.

Inspired by Hudson’s ethos and propelled by a fervent commitment to prioritize client needs, Berntsen established PillarIA. Grounded in the fundamental belief that relationships are the cornerstone of sustainable business, the firm was built on the principle of aligning itself with its client’s objectives and cultivating lasting relationships based on trust and transparency.

"I owe my career in this industry to Hudson. My training and learning were not classroom-related; instead, they involved real-life situations. Whether it was attending client meetings, participating in wholesaler discussions, or attending conferences, much of my learning occurred through real-world experiences. I thank him for that because these are the scenarios I encounter day in and day out in the real world,” reflects Berntsen, with a nod to his mentor.

“He always told me, 'This business is what you make of it. When I started out, I didn't go home until I had at least two appointments booked for the next day.' This showed me the commitment required to succeed in this business. He also told me I was nuts for getting into the industry, but upon reflection, he was just warning me about the grind it would take, especially in the early stages, to grow a business."

Building Bridges of Trust and Transparency

The agency’s dedication to prioritizing clients is evident in its client engagement procedures. PillarIA follows a structured yet personalized approach, finely tuned to each client’s unique background and needs. It begins with thorough discussions to understand the client’s professional journey, whether they are experienced entrepreneurs or beginners. This is critical for gaining insights into the nuances of their business ventures.

Following these foundational discussions, PillarIA introduces specialized questionnaires and intake protocols that meet the demands of various industries. This thorough, industry-specific analysis enables the firm to have a detailed understanding of the client’s operational environment. It identifies and elevates the insurance coverages vital to the client’s success and security. This methodical approach ensures that every strategy is built on a comprehensive understanding of their business, assuring them that all essential aspects are neither overlooked nor underestimated.

Through proactive information gathering and anticipatory measures, PillarIA minimizes the need for iterative client engagements, streamlining the insurance procurement process. In this way, the agency remains agile and responsive to any potential inquiries or underwriting exigencies.

Fortifying Businesses in the Digital Frontier

PillarIA is keenly attuned to the evolving landscape of cyber threats, understanding that despite its prevalence, cyber insurance remains a somewhat overlooked aspect of many businesses’ risk management strategies. One of the recurring challenges the agency encounters is the need for more clarity among its clients regarding the necessity of cyber coverage. Often, businesses prioritize more traditional forms of insurance, such as general liability or workers’ compensation, overlooking the critical need for cybersecurity protection. To address this gap, PillarIA takes a proactive approach, leveraging its expertise to educate clients about the importance of cyber insurance and the potential risks associated with cyber threats.

The firm offers multiple cyber insurance solutions. Through direct carrier relationships and partnerships with specialized brokers, the agency provides access to cutting-edge cyber insurance products to protect businesses from cyber threats and data breaches.

PillarIA has a notable success story that underscores the pivotal role of cyber insurance in safeguarding businesses from unforeseen threats. The agency worked with a bookkeeper to handle diverse financial transactions for various companies. The nature of their work exposed them to potential risks, including phishing and cyber threats.

During a routine transaction, the bookkeeper became a victim of phishing, where they unknowingly processed a fraudulent payment request. The ramifications of this incident became apparent when the bookkeeper’s client received confirmation of payment for an unrecognized invoice. Alarmed by the discrepancy, they immediately alerted the bookkeeper, triggering a chain of events to mitigate the potential fallout. Swift action ensued as PillarIA engaged its trusted carrier’s claims team.

The synergy between PillarIA and the carrier’s claims team was critical in averting a potential financial debacle. The fraudulent transaction was intercepted through concerted efforts, successfully preventing any financial loss. This incident underscored the protective shield provided by comprehensive cyber insurance. It demonstrated PillarIA’s adeptness and the intrinsic value of having a safety net against the unforeseen cyber threats that pervade the digital landscape.

“Building trust with the individuals we conduct business with is paramount. When clients trust their advisor strongly, challenges can be tackled with greater ease and confidence, leading to smoother resolutions,” says Berntsen.

Transitioning towards the future trajectory of PillarIA, a comprehensive perspective emerges that includes geographical expansion and service diversification. In pursuit of growth and innovation, the agency aims to extend its footprint beyond New Jersey and nationwide. Drawing inspiration from Hudson’s endeavors, whose approach propelled his business into 42 states, PillarIA sees the insurance market as a space filled with immense opportunities for partnership, merger, and acquisition.

As a young agency, PillarIA remains poised for growth, actively pursuing avenues for expansion and brand development through strategic acquisitions. Founded by its core values and commitment to customer-centricity, PillarIA is prepared to navigate the industry’s dynamic shifts.

PillarIA also seeks to enhance its service offerings and capabilities and continually invest in talent, technology and market intelligence to continue delivering unmatched value and expertise to its diverse clientele.