- Advertisement -
Home Entrepreneurship Black Owned Company Connecting Black People With Black Insurance Agencies

Black Owned Company Connecting Black People With Black Insurance Agencies

- Advertisement -

Julia Wall JWALL@NEWSOBSERVER.COM

The top eight Black insurance companies in 1925 held $141 million in policies, the equivalent of over $2 billion today. By 1973 one company, Atlanta Life Insurance, held over $346 million (also worth over $2 billion today). The insurance industry today nets over $1 trillion in premiums, essentially none of it touching the Black community because it chose integration over an industry that has the power to literally change everything. The roots of Black self-reliance lie in the insurance industry and InsureBlack will help us rediscover them. InsureBlack is a new platform that will help Black consumers connect to Black insurance agencies and agents for life, auto, health, business and various other insurance products. InsureBlack is a radical idea whose time has come. 

Black insurance agencies have the power to transform Black communities, a fact well-documented in history. Black mutual aid societies laid the groundwork for the Black insurance companies that emerged in the late 19th and early 20th centuries. Companies like Mississippi Life, North Carolina Mutual, and National Benefit Life became pillars of Black Wall Streets across the country. A 1956 Fortune article cited Atlanta’s Auburn Avenue as “the richest Negro street in the world.” It’s no coincidence that Alonzo Herndon’s Atlanta Life Insurance and Standard Life were located there. According to Robert Weems, a professor of business history at Wichita State University, insurance companies have a unique problem: they take in more money than they have to dole out at any given time and they must figure out how to disperse their surplus. Black insurance companies often did so by investing in the community, most prominently in mortgage loans and other community investments. As Black insurance companies declined, so did Black neighborhoods. InsureBlack is ready to reverse the tide. 

Segregation forced Black people to spend with Black businesses. It also created a deep stigma and damaged Black people in ways immeasurable; so much so that Black people thought it a status symbol to obtain insurance policies from white companies, after integration. Before integration, however, white companies refused to write policies for Blacks or routinely charged them higher premiums than they did their white customers. It was this form of racism that birthed Black insurance companies and unfortunately, due to the trauma Black people faced, they made the irrational decision to undermine the Black insurers that meant so much to the community. Black consumers opted to take out their insurance with white companies and those companies pursued the top Black insurance agents to sell policies for them. InsureBlack’s mission is to reinvigorate Black insurance agencies and in doing so, shift billions back into the Black community.

InsureBlack will make it easy for consumers to find the most knowledgeable agents and products, in a way that recycles billions of Black dollars. Black consumers chose to begin supporting white insurance companies after desegregation. In this moment of history, Black consumers can make the conscious choice to pour billions back into the Black community by once again opting to take out their insurance with Black agents and agencies. InsureBlack is ready to shift the tide and will soon empower everyone to find the right agents, products and peace of mind they need. InsureBlack will change everything, one policy at a time. Click here to get a free financial and insurance planning guide from InsureBlack.

- Advertisement -
D'Juan Hopewell
I care about Black Power. Period. Currently working on creating jobs and funding new startups on the South Side of Chicago and writing here and there at HopewellThought.com. Follow me @HopewellThought.
- Advertisement -

Stay Connected

348,245FansLike
0FollowersFollow
220,589FollowersFollow
0FollowersFollow
3SubscribersSubscribe

Must Read

Make Money In Real Estate With the Help of CCIREA

The Creating Cash in Real Estate Academy is a Black-owned Academy focused on providing a resources to Black entrepreneurs in the real estate business
- Advertisement -

From Achy Feet to Better Skin, ALittlePeace Has Product for Healing

Alittlepeace products is a holistic brand aimed at providing the best products for your health journey, from eczema cream to herbal teas

High Ticket Freedom’s Bootcamp Will Transform Your Business

If you’re a business owner now or you dream of becoming one in the future, you can’t afford to miss the free 3-day Online...

Black-owned Canned Goods Now Available In Stores Nationwide

Goode Foods is a Black family-owned canned goods company that is “Dedicated to Good Nutrition for Our Country”

Related News

Make Money In Real Estate With the Help of CCIREA

The Creating Cash in Real Estate Academy is a Black-owned Academy focused on providing a resources to Black entrepreneurs in the real estate business

From Achy Feet to Better Skin, ALittlePeace Has Product for Healing

Alittlepeace products is a holistic brand aimed at providing the best products for your health journey, from eczema cream to herbal teas

High Ticket Freedom’s Bootcamp Will Transform Your Business

If you’re a business owner now or you dream of becoming one in the future, you can’t afford to miss the free 3-day Online...

Black-owned Canned Goods Now Available In Stores Nationwide

Goode Foods is a Black family-owned canned goods company that is “Dedicated to Good Nutrition for Our Country”

Heal Dry, Itchy Skin With ItzMade4Me Body Butters

ItzMade4Me is a Black-owned skincare company dedicated to producing all-natural, allergen-free skin and hair care products
- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here