PDA Q&A: Alan Jay Kaufman, E-Interview
Interview with CEO of H.W. Kaufman Financial Group in Farmington Hills.
DB: Where are you?
AK: In London. I’m here for a week. Our company, H.W. Kaufman Financial Group, has three offices here in Lo
ndon and more than 100 people in the financial district. I’m at our office that’s about a block and a half from Lloyd’s of London.
DB: How long have you had operations in London?
AK: We opened the first office in 2006, but we’ve been doing business here since the early 1970s. I come here twice a year, and every trip has been a little different. I like to see what’s going on, as we have a significant investment in our people and our offices. Today, we had three board meetings.
DB: What happened at the board meetings?
AK: We talked about acquisition opportunities — and, in some cases, we’re talking to the target companies (which may be acquired). We talk with the lender brokers at Lloyd’s, and we talk to their underwriters. It’s important to maintain relationships with the insurance companies in the greater London market, as their insurance capabilities, facilities, and talent represent a little more than 10 percent of our business.
DB: What’s yourglobal reach?
AK: We do business in more than 65 countries. Some of our clients have factories or architectural firms, and we use a lot of creativity and innovation to best service their overall insurance needs. We’re always looking to expand — we’re growing in Farmington Hills, and we’re looking to open an office in Detroit. Michigan remains our financial center for business accounting, investments, human resources, and education.
DB: What’s are the latest insurance trends?
AK: We’re adding cyber liability coverage as a feature to our existing policies. Our goal is to provide the best coverage and the best price, but it’s difficult when you’re working with different cyber laws in different countries. We’re also expanding our offerings as they relate to large properties, like the older buildings you’re seeing being renovated in downtown Detroit.