The ESOP Entering a New Era of Service

Leveraging technology and relationship-based management to promote growth

Christensen Group Insurance is steadily making its mark as it climbs the ranks of Minnesota’s insurance market. As an insurance firm, the Christensen Group is setting the standard for savvy management by successfully balancing contemporary solutions and steadfast adherence to core values.

The Christensen Group’s strategic playbook is centered on empowering its talented team, enhancing client relationships, and leveraging data-driven insights to make informed decisions. Investing in long-term infrastructure, such as the ongoing ERP system conversion, is vital for streamlining operations, improving cross-departmental collaboration, and providing actionable analytics to better serve clients.

The firm’s emphasis on automating administrative tasks also allows its team to dedicate their energy to strengthening relationships with clients and partners, building trust, and delivering exceptional consulting. This forward-looking approach ensures the scalability needed to thrive as the organization grows into other emerging markets.

Additionally, operating under an Employee Stock Option Plan (ESOP) has allowed the Christensen Group to cultivate a unique culture where employees feel valued, supported, and empowered to excel. Employee-led initiatives, such as localized charity efforts and community service, also demonstrate the company’s commitment to aligning its values with action, deepening ties within each community it serves.

In an industry where numbers and transactions often define success, the Christensen Group stands apart. Success for Christensen Group Insurance means achieving critical mass in its target growth markets, developing robust local expertise, and maintaining its deeply relational approach. It is a cohesive ESOP equipped with the tools and vision to adapt seamlessly to new challenges. It always stays true to the mission of putting people first, building partnerships, and delivering unmatched value.

Focusing on relationships—whether with clients, carriers, or its team—this firm has built a culture that prioritizes understanding, adaptability, and long-term partnerships. This ethos is evident in every aspect of its operations, from supply chain management to community engagement.

Building a Culture of Relationship-Centered Success

Christensen Group Insurance was founded in 1952. It was originally a one-person operation until Bruce Christensen joined in 1985, buying out Gene Christensen in the process.

Subsequently, Bruce added three partners via a merger in the 1990s: Cal Simmons, Randy Morgan, and Bill Finley.

Knowing that they would eventually have to securely monetize their equity, the firm’s leaders began exploring ESOPs as a fair alternative to traditional methods of carrying out that transaction.

“The advantages of an ESOP transaction were really appealing because it de-risked the business much faster. It got sellers their proceeds faster and accomplished their goal of transferring equity to an internal group of people,” says President and Chief Financial Officer Charlie Christensen.

So, in 2005, Christensen Group conducted a 100% equity transaction that yielded fantastic results for both employees and the firm itself.

At the time of the transaction, the Christensen Group had 50 employees, but it has continued to scale and now has an impressive 215 employees. With such valuable equity as the reward, the firm focuses on evaluating the quality of each new employee it brings on board.

“We have a particular focus on seasoned insurance talent… that’s the focal point of our growth strategy. We look for highly technical consultants we can bring in who can bolster our brand,” Christensen says, confirming that much of the firm’s brand reputation hinges on the quality of advice and deliverables of its consultants.

The Christensen Group’s ESOP status is certainly a major reason for its ability to secure such talent. Many of the firm’s competitors are either publicly traded or have been sold to private equity firms, so much of the potential for equity ownership is lost.

However, that isn’t the case with Christensen Group Insurance. “It’s extremely rewarding for the people who work with us compared to our peers, so I think that helps us attract and retain better talent that delivers a better customer experience,” Christensen says.

Christensen Group Insurance is very thoughtful in its communication. Employee owners fully understand how they collectively affect the firm’s share price, which in itself creates impeccable results for clients and partners alike.

Leveraging Technology and Partnerships for Operational EfficiencyThe Christensen Group’s employee-owners value teamwork and communication amongst themselves, which naturally extends to their external relationships.

“Relationships matter in every single facet. So, with our carriers and our clients, we make sure to understand what their motivations are and what they’re really looking to do in their strategy,” says Chief Operating Officer Samantha Olinger.

Understanding the motivations and strategies of both clients and carriers is fundamental to the Christensen Group’s approach. Whether assisting individuals in their career paths or consulting businesses on growth strategies, the Christensen Group’s goal is clear: to meet people where they are and tailor solutions to their unique needs.

This relationship-first approach necessitates a departure from a purely transactional mindset. Instead, the company invests in discovery, understanding each client’s broader goals, and consulting them thoughtfully to ensure mutual success.

“It’s not about a transaction,” Olinger explains. “It’s about a relationship… that is key for us. We have to be thoughtful about how we understand the bigger picture and provide good advice so that our clients and carriers can be successful too.”

To preserve time for meaningful interactions, the Christensen Group has embraced automation, reducing the burden of administrative tasks. This enables their team to focus on building relationships and providing tailored advice, ensuring that every interaction aligns with their core philosophy.

“We use a tool called Airtable quite a bit. We started using it 3 years ago, and now we’ve got a good portion of our team, around 50%, that goes in and uses a workflow automated by Airtable every single week,” Olinger explains.

This platform has become an integral part of its workflow, automating processes that were once email-dependent and labor-intensive.

From HR functions like onboarding and interview tracking to broader team collaboration, Airtable enables the Christensen Group to “pass the ball forward” seamlessly.

“It saves a lot of mental brainpower for more important things,” Olinger confirms, highlighting how the team has self-taught these efficiencies to maximize their impact.

Christensen Group Insurance is also undergoing a significant enterprise resource planning (ERP) system conversion, which is described as the most substantial undertaking in a decade. While the project’s completion is slated further down the line, its groundwork is already laying the foundation for transformative growth over the next 15 years. “It’s a really great internal project for us; it’s an investment of the next 10 years, ensuring that we’ve got data consolidated into one single system,” Olinger says.

This initiative aims to consolidate data into a single system, enhance decision-making capabilities, and provide richer insights for client consultations.

Scaling for the Future While Retaining Core Values

Beyond its operational focus, the Christensen Group is deeply committed to community involvement. Its employee-led charity committee ensures that each office’s outreach efforts are tailored to local needs. For example, the Waite Park office partners with a nonprofit that supports individuals on their cancer journey, reflecting the personal connections many employees have to this cause.

Another standout initiative is their annual school supply drive, where employees pack backpacks with essentials for children in need. This effort, along with many others, underscores the company’s commitment to meaningful and diverse community engagement. Additionally, because the firm reports to its employees where it has spent time, money, and resources, it is able to identify gaps and pivot efforts as needed.

A highlight of their community involvement is the Martin Luther King Jr. Day of Service. On this day, employees across all offices dedicate time to giving back, either individually, as teams, or with their families.

All of these things are done more as an expression of gratitude, as Christensen Group Insurance fully acknowledges the community that has supported it as it has grown and wants to ensure that it communicates that gratitude to all members of its community.

Looking ahead, the Christensen Group is focused on sustainable growth while maintaining its unique culture. The flywheel is spinning smoothly, so there isn’t much need to make any large-scale changes.

“We’ve got a good strategy that’s repeatable and scalable,” Christensen states. The immediate goal is to build out growth markets in Kansas City, Texas, and Chicago, reaching a “critical mass” of 15 to 20 consultants in each location.

Achieving this benchmark will enhance the firm’s ability to serve local clients with diverse expertise and synergistic teamwork. As the company grows, Christensen anticipates potential structural adjustments once they reach around 300 employees. However, he is confident in its ability to adapt. “We’ll see when we hit a wall from a headcount and growth perspective, but for now, we can keep running this playbook.” As an organization, not having to switch up the strategy also allows the firm to focus on preserving its culture as it expands.

This is perhaps the most beneficial aspect of the firm’s current position, as the Christensen Group’s commitment to relationships, technology, and community forms the backbone of its success. By fostering a culture that prioritizes understanding and adaptability, the Christensen Group has positioned itself as not just an insurance provider but a trusted partner.

With a clear strategy and an unwavering focus on its values, Christensen Group Insurance is poised to navigate the challenges of growth while continuing to make a meaningful impact on its clients, its team, and its communities.

At a Glance

Who: Christensen Group Insurance,
What: An employee-owned insurance firm operating under an Employee Stock Option Plan (ESOP) that has built a reputation for relationship-centered success and technological innovation.
Where: Headquartered in Minnesota, Christensen Group Insurance is expanding its reach into emerging markets, including Kansas City, Texas, and Chicago, as part of its strategic growth plan.
Website: https://www.christensengroup.com