Shove Insurance Inc. has seen it all when it comes to the development of its industry in Rhode Island.
The independent property and casualty insurer has been in business in Pawtucket since 1859 and is one of the oldest insurance agencies in the state.
According to the Providence Business News Book of Lists, Shove Insurance is the 18th-oldest company in Rhode Island, and the oldest independent insurer.
The company was originally founded by Isaac Shove, who owned it until his death. It was then controlled by a trust until it was sold to George Parker Sr. in 1910. Parker passed it along to his son, George Parker Jr. The Parker family owned it for about 70 years before selling it to William J. Hunt.
Hunt was hired to Parker’s firm in 1971 after he graduated from the University of Rhode Island.
“They were looking to bring on a new employee to make a [succession] plan. At the time, George Parker was probably in his 60s and the two people I eventually went into business with were in their 50s, so it all led to a natural progression in ownership,” Hunt said.
The business has changed quite a bit since Hunt joined in 1971, he said. At the time, the Pawtucket office had about 20 employees. Today, the business employs three full time.
A fall in employment happened about six years ago when Hunt decided to share overhead and expenses with another insurance agency, Troy, Pires & Allen Insurance. Like Shove, the firm had been around for decades, and the decision to share some resources made economic sense for both firms.
“Many years ago, it wasn’t that common because insurers always felt like they couldn’t operate with their competitors,” Hunt said. “What we found is that you don’t often bump into other agents on such a regular basis that it becomes a problem.”
TPA, however, was sold to the Maine-based insurer Cross Insurance in 2014. Not long thereafter, Hunt and his partner decided to move its agency out and struck a partnership with Butler & Messier Inc., at 1401 Newport Ave.
Shove shares commissions with Butler & Messier in exchange for support staff.
Hunt would like to add more sales staff but said recruitment is a major challenge facing his firm and the industry. The issue, he said, is twofold.
The first is that insurance has an image as an industry with a lot of turnover.
“That’s changed,” Hunt said. “But it left an image.”
The second issue is there aren’t a lot of people looking to get into sales jobs these days, said Hunt, who nonetheless is committed to carrying on the company’s legacy in Pawtucket.
“There aren’t a lot of people cut out for sales,” he said. “We’re always on the lookout for people who are interested in a career for sales. It’s a great career for someone who wants to create their own destiny, but [candidates] don’t give it as good a look as they should. That’s something our industry struggles with.”
OWNERS: William J. Hunt, J. David Francis
TYPE OF BUSINESS: Property and casualty insurance agency
LOCATION: 1401 Newport Ave., Pawtucket
EMPLOYEES: Three
YEAR ESTABLISHED: 1859
ANNUAL SALES: WND
