Loaded for bear: the Sternberg family's
Starmount life is finding its mark in a market filled with insurance
titans Starmount Life Insurance Co. may not be slaying giants,
but it's definitely giving them a run for their money. And that,
says company chairman Hans Sternberg, is a lot of fun. A small firm
compared to many of its competitors--companies like Metlife and
AIG--Starmount is more flexible and quicker on its feet."Being
nimble, being quick, getting our pricing competitive: It makes it
a good game," Sternberg says. "And when we get a big case,
it's a cause for celebration for everybody in this company
."A "big case" is landing a client with 2,000-plus
employees. Most of the employer groups Starmount provides insurance
for are 50 to 100 people, though some clients have as many as 6,000
employees. Starmount has a total of more than 200,000 enrollees.Starmount
began in 1983 as Maison Blanche Insurance Co., which served the
customers of the Sternberg family's Maison Blanche chain of department
stores.The Sternbergs sold the chain in 1992 and rechristened the
insurance company. The insurance company started from there with
seven employees. Now it has more than 100. |