Reducing risks and costs: the Goss Group tackles the insurance industry

Black Enterprise, Nov, 1996 by Ann Brown

When former college football player and University of Michigan graduate Gregory F. Goss sought a career change, he turned to the nontraditional path of selling commercial insurance. Following a stint as a car salesman, Goss chose the commercial insurance market because he saw it as a field with untapped potential--one with few minority members. But there was one problem: Goss had no insurance billings. No track record, of course, meant that no company would want his representation. To gain experience as an insurance salesman, Goss joined Cambridge Underwriters Ltd. in Livonia, Michigan.

Working his way up to sales manager in two years, Goss soon entered into a joint venture with the firm. Two years later, however, he was ready to break out on his own. His goal: targeting black businesses and educating them about risk management and safety procedures.

Opening in Detroit's main business hub in 1994, Goss laid out a game plan that would see his company accumulate $4 million in insurance billings in its first 18 months. His first step was to line up potential clients. To achieve his goal of obtaining a black clientele, he paired up with minority suppliers, giving him the opportunity to write their insurance business.

At every turn, Goss made sure to seek out places where his clients frequented. By using social occasions as networking opportunities, Goss increased his client stream. "I realized that many of the decision-makers of major companies get up early and exercise," says Goss, who rises at 4 a.m. every day and now trains with one of his clients. Goss then registered with the Michigan Minority Business Development Council and became more active in Detroit politics, citing the former deputy mayor as someone who provided a great deal of assistance and business contacts.

Boasting a staff of 34 and a second office in Livonia, the Goss Group now represents most of the major insurance companies. Among Goss' clients are several BE 100 firms. Many of his clients say it was not only the 35-year-old's aggressive sales technique but his ability to cut costs that persuaded them to sign on.

Clifton Mosley Jr., CFO of Engineered Plastic Products, found out in December of 1994 just how persuasive Goss could be. "Our renewal date was January 1," says Mosley, "and when he said he could come beck with a proposal in that short amount of time I didn't believe it." Goss did a thorough proposal, addressing one of Mosley's main concerns-cutting worker compensation costs--and bettering the company's property and casualty risks. As a result, Goss pioneer captured Engineered Plastic's business from an insurance agency that they had been with since 1987.

For Goss, his work has a larger purpose than just securing more business. In a billion-dollar industry where blacks comprise a paltry 1% of insurance agents, Goss' mission is to make more African Americans aware of its opportunities.

The Goss Group, 400 Renaissance Center, Suite 404 Detroit, MI 48243; 313-396-1773