Imagine walking into a store and having someone yell out, "Hey, that's my insurance guy!" while giving you a high five. That's exactly the kind of relationship Mike Rice wants with his clients at Tom Ward Insurance Group. And after 31 years in the business, he's built quite a few of those relationships.
Rice has this infectious positivity that makes talking about deductibles and coverage limits actually enjoyable. When asked what drives him after three decades in insurance, his answer was simple: "I like talking to people. I like talking about insurance and trying to simplify it." In a world where insurance can feel impossibly complicated, Rice and his partner Tom Ward have made it their mission to be the "simple guys" who just take care of clients.
The story of Tom Ward Insurance isn't one of grand corporate design, but rather an organic evolution born from a desire to do things differently. Rice recalls his entry into the insurance world alongside partner Tom Ward. "In 1993 Tom asked me to help him start a business," Rice explains. This initial collaboration quickly gained momentum. "All of a sudden, in April of 1994, I quit my job and worked with Tom full time. And we grew fast," he recounts.
However, a pivotal realization dawned on them. " From 1994 to 2005 we were with American Family Insurance, but realized, you get to a point where you can’t just sell one hotdog," Rice asserts. Rice and Ward realized that, like a restaurant that only serves one item, being limited to a single-carrier model just doesn’t work for everyone and the pair started the Tom Ward Insurance.
That decision to go independent? It changed everything. Instead of having one option for clients, they now work with over 14 different insurance companies. "What I'm learning is that not a lot of agents have such a wide range of carriers," Rice notes.
Today, with two locations and 15 employees, the agency is far from complacent. "We’re not resting on our laurels, saying ‘Let's just coast’. No, we're looking to hire new people, buy agencies, and to do what we can to push forward."
Another point of immense pride for Rice is their steadfast commitment to their team. "Being in the business for 30 years. We’ve never had to lay anyone off," he states. "We run a lean operation; we know what we’re doing and people stick around. And even in hard times like Covid, we didn’t lose anybody." This stability speaks volumes about their management philosophy and dedication to their employees.
31 years later, Rice and Tom Ward Insurance continues to stand out in an increasingly crowded marketplace: "I think it's the positivity. Tom and I have always tried to not follow the same path. We like to just be that simple guy. Call Mike. Call Tom. We'll explain it all. We'll make sure you’re taken care of."
This refreshing honesty extends to their willingness to decline business if it’s not the right fit:
"We’re ok with saying ‘no’. We can’t help everybody so I think that honesty helps us as well," Rice explains. "If I can’t help you, I’m going to tell you. If we aren’t a good fit, I’ll tell you. But keep my name and call me in a year or two and we’ll see if we can make it work. Win backs are important."
That long-term thinking is key to how Rice operates. "I'm here to make a relationship, I'm not here to make a transaction," he says. "You make it easy and make it honest with people. You can't be friends with everybody, but you can be friendly with everybody and just roll with it."
The agency's evolution has been marked by a constant pursuit of choice for their clients. "I would consider ourselves very lucky because we have a good stable of carriers so we’re able to take care of every client A-Z if we can," Rice states. "We don't really have a target market. I'm here to help everybody. If you call me, I'm going to help you if I can. If you’re interested in having a conversation, that’s the kind of client I’m looking for.”
While client needs haven't fundamentally shifted, Rice has observed a significant change in expectations. "Everybody thinks that what I do should be done in two seconds," he acknowledges. He gets it—some things can be quick. But the complex stuff? That takes time. "For complex clients, I need a week because I want to truly vet everything; get the right info, make sure there’s no coverage gaps, have a true conversation.”
When asked the most important advice he gives clients, Rice’s answer was both simple and rarely followed: "Read and understand your policy. If you can't read and understand it, please call me."
He's seen too many people get blindsided during claims because they didn't understand what they bought. "That kills me. Instead, let's go through it together; let's go line by line so you understand what you're buying."
Here's something Rice wishes more people understood about independent agents: "I stress, I work for you. It’s my job to make sure you’re taken care of."
This contrasts sharply with captive agents, who represent a single carrier. "Usually people who come to us, they're looking for that. They're not worried about pricing, they're worried about talking to someone."
Their carrier relationships are built on similar principles of ease and collaboration. "Ease of business is number one," Rice states. "If we can get a quote to a client fast, this is one of the things I’m most interested in." Beyond efficiency, he values comprehensive product offerings and strong personal connections. "I want to sell you what you need, not what you think you want. The relationship is what I’m looking for with carriers; people who are open, easy to call, and easy to talk to."
Speaking of someone to talk to, Rice and Tom Ward Insurance are strategically embracing technology in ways that might surprise, specifically their adoption of "Gayle," an AI-powered automated attendant. "When you call the office, AI answers. It can do the work of a CSR—ask questions, collect info,—and then it can send it to the account manager." This allows the agents to focus on more complex tasks, like relationship building.
"AI is here and it is coming. I’ve met agencies who are using it. It's amazing that we have to keep up with it because with AI, 1-2 agents can run the whole country." Rice sees AI not as a replacement for human interaction, but as a tool to enhance it. "AI is going to replace those who don’t use AI. We’re trying to embrace AI, to do what we can to keep being competitive, feed Openly and all our other kids, and employees."
While AI will streamline routine tasks, the nuanced complexities of personal and commercial insurance will always require human expertise. "No computer program is going to take over our jobs. It's going to take over the quick little jobs. But not the people who need the home, the auto, the pet, the motorcycle, the boat insurance. AI isn't going to do that."
Rice has big plans for the future, but they all center around the same core principle: taking better care of people. "We need to keep becoming more efficient. We're looking to become even more efficient," he says. This means better software, smoother processes, and yes, more AI integration.
They're also looking to grow through acquisitions. "Can we buy other agencies? That would be great." But growth for growth's sake isn't the goal—it's about being able to help more people.
Regarding the broader future of the insurance industry, Rice remains optimistic. "The bottom line is insurance isn't going anywhere," he declares. "We just need to buckle down, maintain our relationships and maintain our education. As long as we stay educated and in touch with what's going on, we're going to be very valuable moving forward."
For Rice, it all comes back to something fundamental: "Our job is a relationship. You can't sell a policy and have nobody to talk to."