USHEALTH Group - Executive of the Year - Insurance
Company: USHEALTH Group, Inc. Fort Worth, TX, USA
Company Description: USHEALTH Group, Inc. is an insurance holding company based in Ft. Worth, Texas focused on providing innovative health coverage for self-employed individuals and small business owners. The goal of USHEALTH is to combine the talents of its employees and agents to market competitive and profitable insurance products, while providing superior customer service in every aspect of the company’s operation
Nomination Category: Management Categories
Nomination Sub Category: Executive of the Year - Insurance
Nomination Title: Troy McQuagge's Dynamic Leadership Literally Saved USHEALTH Group, Inc. from Financial Ruin
Tell the story about what this nominated executive has achieved since 1 January 2017 (up to 650 words). Describe the impact he or she has had on your organization. Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms.
Troy McQuagge is a dynamic business leader who literally brought USHEALTH Group, Inc. from the brink of financial ruin to consecutive years of multi-million dollar profits by creating a clear and focused corporate identity for the company. Anyone who looks at the history of USHEALTH Group, Inc. will immediately see “A Tale of Two Companies”. For example, prior to Mr. McQuagge’s appointment as President and CEO, USHEALTH Group, Inc. suffered through multiple years of dismal sales performance and consistent financial losses from 2006 - 2011. In stark contrast, the years under Mr. McQuagge’s leadership have been incredibly successful.
He led USHEALTH Group, Inc. to experience its highest sales growth trajectory in company history. In fact, the company has posted record profits for the past six consecutive years. Moreover, USHEALTH Group, Inc. established new company records in 2017 for annual sales volume, total number of writing agents, total in-force premium and total GAAP pre-tax income. When compared to year-end 2010, USHEALTH Group Inc. has grown six-fold and its share price has grown a remarkable 2,800% under Troy McQuagge’s leadership.
This remarkable corporate turn-around began through a conscious effort to install Mr. McQuagge’s proven sales culture and proprietary agency building program into the company’s wholly-owned subsidiary, USHEALTH Advisors, LLC. While restructuring USHEALTH Advisors, Mr. McQuagge simultaneously concentrated on transitioning USHEALTH Group, Inc. to an agent-centric company by emphasizing the development of innovative, non-traditional insurance products that are highly attractive to the company’s target market and thereby result in greater sales success for the company’s captive agent sales force. His emphasis on product development led to a complete makeover of the company’s product portfolio over a 4 year period through the introduction of more than 21 new and innovative products for the self-employed and individual insurance marketplace.
During 2017, the company’s writing agent base grew by 30%, and produced an incredible 51% increase in annual sales volume with a corresponding 48% increase in GAAP revenue. Perhaps, one of the most revealing metrics that illustrates Mr. McQuagge’s impact on the company is its number of $1 million personal producers for the year 2017. In this year alone, 47 USHEALTH Advisors writing agents eclipsed $1 million of issued annual sales volume. To put this metric into perspective, it means that the powerful & proprietary sales system installed by Troy McQuagge at USHEALTH Group, Inc. actually created more $1 million writing agents in the year 2017 than had existed in all previous years, combined!
Although Mr. McQuagge has studied many successful leaders, perhaps the one he most admires is the late John Wooden, former coach of the UCLA Bruins. Like the late coach, Mr. McQuagge has developed a proven and easy-to-follow set of leadership principles that are applicable to both business and life. His personal mantra has ultimately become USHEALTH Group Inc.’s mission of “Helping Other People Everyday”.
Troy McQuagge is the kind of visionary leader that brings fundamental C-Change to an organization. He is open, honest and approachable to all employees and willingly shares his vision with unmistakable clarity and enthusiasm. In turn, employees and agents alike have put their trust in him. They have bought into his vision and are intently focused on contributing to its fulfillment. As a result, the company’s performance continually improves, profits ensue and shareholder ROI increases, exponentially.
In bullet-list form, briefly summarize up to ten (10) of the chief accomplishments of this nominated executive since the beginning of 2018.
-Led USHEALTH Group, Inc. to six straight years of multi-million dollar profits vs. six consecutive years of financial losses prior to his appointment
-Under his leadership, USHEALTH Group, Inc. gained significantly in terms of market share by introducing revolutionary insurance product designs -His product innovations solved the issue of affordability and accessibility within the individual health insurance market, without compromizing on coverage for catastrophic claims
-He transformed USHEALTH Group from a “worst performer” to “best performer”, financially