An Interview with Mike Conley

Conley Insurance Group, now run by Mike Conley, grew out of his father’s business, Credit Insurance Associates. Based out of St. Louis, it was formed in the late 1960’s. While the original company’s focus was only credit insurance, when Mike joined his father in 1991, they began offering additional services and products. Since then, the company’s name and offerings may have changed, but one thing has remained constant - their devotion to customer service and their belief in empowering employees to take care of their customers.

After growing up around the business, Conley got his start in the industry working for family friend, Dave Sinclair while in college. At the time, Sinclair was the nation’s largest Ford dealer. “I washed cars, sold cars and finally worked in the finance department,” recalls Conley, “I graduated from the University of Notre Dame in 1986 with a degree in philosophy. I joined an employee benefits company and worked in Chicago for 5 years. My experience selling cars was a huge attraction for my new employer. After 5 years, it was time to move to management with this company, but I knew that ultimately I would be returning to St. Louis to work with my father. I took 6 months off, travelled the world and then headed home. My father retired in 1999, and we have continued to grow every year since.”

When asked what he likes most about the business, Conley says he loves the energy of it all, but he enjoys the people even more. “From Dealers to porters, I enjoy being in the field and meeting with those people who make us successful. If the car isn’t sold, it can’t be financed and protected, so I especially enjoy watching the sales process, and seeing the excitement of people getting a new car or truck.”

What he dislikes about the industry is the Internet, and the ability of every customer to know what the dealer pays for every car. “When I buy a couch, or a TV, or a house or a CT scan, I don’t know what the company pays for their products. For some reason, the automobile manufacturers pull their pants down for everyone to see. This makes it difficult for dealers, because customers rarely understand that they are now buying wholesale, and as a result, they only receive wholesale for their trade.”

Conley attributes the success of the business to the quality people who work for Conley Insurance Group. “We have been lucky and fortunate to employ some smart, talented and trustworthy people, who continue to push our company to greater heights.”

Today, Conley says training is the most sought after service that they provide. No matter how well someone does, he continued, there is always room for improvement.

Not only does Conley see education and training as critical elements in running a successful business, he also recognizes the value of educating our youth. Currently, he serves on the board for Most Holy Trinity Catholic grade school. The school focuses on preparing students from low-income homes for high school and beyond. And while the majority of the families at Most Holy Trinity School are not Catholic, says Conley, the school is a vital link to the north St. Louis neighborhood. “Keeping these at-risk kids in school is a critical and often difficult responsibility. As a board, we work together with the school to strengthen and re-build the community from kindergarten up.”

Conley has been on the board of several charitable organizations in St. Louis. He served on the Make-A-Wish of St. Louis board for over 8 years. Make-A-Wish Missouri is part of the nation's largest wish-granting organization. They grant wishes for children diagnosed with life-threatening medical conditions. Conley says even being a small part of the process to bring joy to kids who are so sick is well worth the time and commitment.

If he is not working, you might have a hard time catching up with Conley – he is an instrumented rated pilot and he enjoys traveling. “I like to fly south and explore a lot of the beautiful areas along the Gulf Coast. Sometime I will fly to South Dakota and spend the weekend there hunting pheasants. It is refreshing to get away from cell phones and the business of everyday life.”

Conley has 3 daughters, ages 16, 18 and 20. He enjoys taking them skiing in Colorado and heading to Lake of the Ozarks in the summer.

The Future of the Industry

Conley says he doesn’t see the role of the agent changing dramatically over the next five years. “I think the large auto groups pose a threat, especially in some markets, because they often take this work in house. Very few agencies can service national groups, and as a result, some of the ‘big-box’ providers have an advantage.

“As the CFPB continues it’s unprecedented, and unauthorized push into the Auto business,” says Conley, “I think compliance and training will continue to be important services to provide to our clients. New products may come and go, but this is a people oriented business, and that won’t change. New technologies, like video training, enhanced menu selling and better online reporting will continue to enhance our ability to train and coach our clients.”

Conley says there is strength in numbers and he sees Agent Summit as offering a great opportunity for agents to meet and discuss what is happening across the country. By learning about the competition, and why we are winning or losing, Conley hopes that marketing agreements can be developed.

Conley is optimistic, “I think the agency distribution system has proved to be the most efficient system. Just as manufacturers found out that they are not good retailers, I think that the entrepreneurial spirit that agencies bring to the table is critical. We live day-to-day, deal-to-deal. Our income measures our success, and we must be adaptable and sensitive to the needs and desires of our clients. We live in the trenches with the finance department, but we are often an important liaison to the other departments in the dealership.”

Unlike many agencies, they still sell a lot of credit insurance, and believe it is a viable and important benefit to the consumer. “We focus primarily on service contracts, as they generate revenue for many departments in the dealership, but our clients are particularly interested in products that continue to encourage customers to return to their stores for future maintenance and service, and of course, future sales.”

“Energy, enthusiasm and excitement. Those are traits in the people we want to hire, and to work with.” Conley says most of his employees have been with the company at least 20 years but they are always looking for the best and brightest recruits to the industry. “The auto industry is an excellent path to build a meaningful, profitable, and rewarding career and as an industry, we need to do a better job showing people the benefits of the auto business, and encouraging quality people to get involved. We are currently working on a program to interview college graduates, and give them a career path in the auto business, from selling cars, to finance. Retail hours are not for everyone, so we also provide opportunities for growth within our agency. By selecting the best of the best, we hope to help our dealers grow, and as a result, help our business grow.”