Growing up in Greenfield, Ind., Tim Craig knew from an early age he was destined for the insurance business. Now co-founder and CEO of James Allen Insurance (JAI) as well as a Lloyd’s of London correspondent, Tim used to travel regularly with his father to visit insurance agents and brokers, and he quickly learned to enjoy it.
JAI opened its doors in 1995 as many other agriculture insurance agencies were closing them. With both parents making up the bulk of its staff, JAI was able to respond quickly to the ever-changing marketplace. Tim’s parents are still with the company: Jim Craig serves as CFO, board chairman and Lloyd’s of London correspondent, and Carol Craig serves as president of accounting and billing services.
JAI has always prided itself on being the first to market an insurance product, and its agricultural knowledge and depth of experience are responsible for its success and diverse portfolio. Now with 23 years of experience, Tim continues the legacy by working daily to carve out niche coverages in response to market gaps. He also focuses on building trust-based relationships with JAI carrier partners as he oversees day-to-day operations at the company.
As a creative person, Tim says he enjoys the problem-solving aspect of the insurance industry. While one doesn’t necessarily think of insurance as being a creative enterprise, it does take a creative mind to address many of the issues it faces. With farms growing larger and more complex, specific risk characteristics require unique coverage. Luckily, Tim’s skill in designing coverages is able to keep JAI rolling with the punches.
There is no question that many farms will continue to be passed down from generation to generation. Tim and his wife, Kristen, have five children, so it’s safe to say the JAI legacy will continue to serve farming families for decades to come.