In 1985, Mr. John Noel founded Travel Guard in his basement with a 0% market share. Over the next 21 years, John and his team grew the business from pure startup to a 60% U.S. market share and 1,000 global employees.
In 2006, TravelGuard was sold to American International Group for an undisclosed sum.
In 1998, Multi National Underwriters was founded by two entrepreneurs and in 2002 was purchased by the Noel Group in partnership with the original owners. The vision of the company was to provide affordable short term health insurance with a relentless focus on customer service.
The Peace Corps, national universities, as well as U.S. foreign service groups came to rely on MNUI for their health insurance needs, and within five short years the original founders and the Noel Group were able to sell MNUI for 10x its purchase price.
Two great entrepreneurial success stories.
And The Noel Group is About to Do It Again
The insurance industry, long sleepy, is undergoing a disruptive technological transformation driven by the Software - as - a Service (SaaS) revolution, by hyper-informed and demanding customers, and by extreme margin challenges caused by poor investment asset performance.
For better or for worse, the days of the mom-and-pop insurance agency, like the mom-and-pop travel agency, are fast coming to an end.
And for those that manage the consolidation wave about to sweep the industry, the rewards can be immense.
Best regards, and look forward to your attendance and feedback.