CRC Group’s Transformation: A Strategic Rebrand
CRC Group’s journey from being a bank division to an independent insurance wholesaler was more than just a cosmetic change. The transformation was about discovering and embracing its true identity. The strategic rebrand, announced earlier this year, aimed to unify the company’s brand and establish a new division structure.
The new CRC Group operates under two divisions: specialty + benefits and underwriting. The specialty + benefits division includes the company’s wholesale property and casualty operations, now operating under the CRC Specialty brand, and its employee benefits business, which will transition to CRC Benefits later this year. The underwriting division comprises Starwind and AmRisc.
According to Jessica Marshall, chief marketing & communications officer at CRC Group, the rebranding was a necessary step driven by a change in ownership, a shift in market identity, and a need for greater focus. “We were being treated like a bank, even though we weren’t a bank; we were an insurance wholesaler,” Marshall explained.
Behind the Rebrand: A Strategic Pivot
CRC Group’s transformation involved several stages. Initially part of Truist Financial Corporation, one of the top 10 banks in the US, CRC was sold to private equity firms Stone Point Capital and CD&R. The company then divested its retail arm, McGriff, and exited the life and annuity space by selling Crump, resulting in a focused wholesale platform.
“We’re on a new journey, and coming out on the other side, we need to emerge as a new company,” Marshall told Insurance Business. The company collaborated with London-based agency Free Partners to craft a rebrand that resonated with the nuances of insurance wholesale. Marshall and her team conducted interviews with field producers and the executive team to distill the organization’s purpose into authentic core values and a forward-thinking tagline: “Move faster, go further.”
Tips for Successful Insurance Brokerage Rebranding
The challenge for CRC’s rebranding lay not just in the concept but in its execution across different operating groups. The company had to balance broad messaging with specific resonance for each group. Marshall noted the importance of collaboration with the front lines: “My team and I work shoulder to shoulder with CRC’s producers to create value that they can sell.”
For insurance marketers navigating similar challenges, Marshall emphasized the value of finding a peer network early in their careers. Her involvement with the Insurance Marketing Communications Association (IMCA) provided a sounding board and knowledge base.
The IMCA’s Ignite Conference, scheduled from June 23 to June 25, offers an opportunity for professionals to share ideas and gain practical strategies. “We’ve ensured that the speakers and breakout sessions are informative,” Marshall said. “The goal is for attendees to take away actionable insights for their organizations.”
CRC Group’s rebranding demonstrates that successful transformation requires more than a new logo; it demands a cultural shift and a clear vision for the future. As Marshall noted, “There’s a new energy around us” – a sentiment that reflects the company’s renewed focus and identity in the insurance wholesale market.
