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Lundgren & Young Insurance

The Lundgren & Young Story

From Then to Now

The 80's

In 1983 after over 10 years in the General Insurance business, Jack Lundgren decided to enter into business for himself. He called the company Jack Lundgren Insurance Services and obtained a contract to sell insurance for a couple of companies that had people who believed in his skills. He had some business cards made, borrowed a desk and shared some office space in a building on Horton Road S.W. in Calgary. When he installed a telephone and no one called, he went out knocking on doors, delivering pamphlets in the Southern part of the City. Soon he started to acquire clients for his services and through untold hours of dedication to providing service to these people, the business began to grow. Many clients of these early days still remain with the agency and recall fondly the Xerox "pamphlet" made with a felt pen that simply said "for a quote on your insurance call Jack". By 1985 the business began to show a profit and as the company grew, additional staff were needed. That same year an opportunity to acquire a book of business came up and the firm was incorporated as Lundgren Insurance Ltd. It then acquired the business of Boulder Insurance, which had been operating in Alberta for over 20 years. To accommodate the growth of the agency, new premises were needed. The firm moved to downtown Calgary at 12th Avenue and 5th Street S.W. but in 1988 adequate space became available in the Horton Road area so the company returned to its original location where it is still located today.

In 1989, looking to establish new markets and facilitate additional growth, the firm briefly aligned itself with a large brokerage firm. The association was short lived but had the effect of introducing Thom. & Val Young to Jack Lundgren. An alliance was made and in 1989 Thom. & Val acquired 50% of Lundgren Insurance Ltd. Shortly thereafter the company acquired the book of business of Whitehawk Insurance Services. When the company moved to a storefront location in 1993 the need for a new sign prompted a change of name to Lundgren & Young Insurance Ltd.

The 90's and Early 2000's

In 1997 Brookeholm Insurance was acquired and the company established a branch office at 2109 Edmonton Trail N.E. Calgary staying there until March of 2008 when they moved down the street to the current location. In the summer of 1999, the company decided to implement a marketing strategy that had been under consideration for a number of years. Philosophically, non-standard personal lines insurance business is not generally easy to place with many markets.

In review of this type of business we determined that 25% of the individuals insured in this market were incorrigible and that nothing would ever bring them to standard market underwriting requirements. Accordingly though, 75% of those in this market were temporarily insured in this market through bad luck, poor judgment or present life circumstances. It was also determined that the level of service provided to 100% of the people in these circumstances was generally poor and arrogantly provided by the majority of competitors.

Accordingly we decided to form a new operating division to aggressively market for this class of business. Due to the stigma attached to this class of business by the standard markets we deal with, we decided to use a different operating name so as not to be labeled as a non-standard insurance broker in our primary operations. Right Track Insurance Solutions was well on its way as a player in this market, the collateral advantages of the standard insurance business developed through the superior service provided by this entity was substantially responsible for the continued positive growth of Lundgren & Young Insurance Ltd. for the five year period ending in May 2004. Market considerations arising out of the hard markets that had developed during that time as well as government interference in the market through rate freeze and auto reform regulations made it redundant to pursue this class of business separately from the main line market. It was decided that Right Track Insurance operations served no further purpose in this market and it has been absorbed into the operations of Lundgren & Young. Lundgren & Young will continue to market high risk auto / risk specialty through the markets we've developed an expertise with and with the staff that have the experience to do it effectively but now under the Lundgren & Young name.

In January of 2000, Thom. and Val entered into an agreement with Jack to acquire his interests in the corporation. The agreement was arranged on an amicable basis that includes Jack's participation in the corporation as President on a fee for services basis for as long as he wishes to remain. The involvement of Thom and Val's children in the day-to-day operations of the business reflect an implemented program for succession of ownership that the reader is invited to make his own assumptions about.

In May of 2003 Lundgren & Young opened a satellite office in Lethbridge. Sharing an office with CV Group Benefits, Lundgren & Young compliments CV's life & Group benefits portfolio with general insurance services. In March 2004 Lundgren & Young acquired Pinnacle Insurance Planners and opened in Sunridge Mall where they resided until July 2008 when they moved to the current location in London Towne Square on 32nd Avenue. 2004 saw great growth and the need for more space so in May of 2004 Lundgren & Young acquired an additional floor space at Horton Road. They moved it's reception & legal address from 400C 9705 Horton Road SW Calgary to 200C 9705 Horton Road SW Calgary. Lundgren & Young now occupies 9000 sq/ft of office space over 2 floors at Building C 9705 Horton Road. But they didn't stop there, with continued growth and what looked like a great business opportunity Lundgren & Young moved 3 brokers over to the Southland Registries office. Now with 5 brokers and the potential for more, they are there to help service all the foot traffic coming from the registry office.

Lundgren & Young Today

Lundgren & Young Insurance Ltd. is today a large general insurance brokerage with annual sales in excess of $30,000,000. It employs 67 individuals and services over 20,000 individual customers and businesses, extending throughout Alberta. The company represents more than a dozen different domestic insurance companies that support the independent broker method of delivering their products and services to the public.

Lundgren & Young lends this success to its creative management and the people who work for and love this company. Key values have always been and always will be Integrity to its people, to its insurance markets and industry, and to its customers. We are also an active member of the Independent Insurance Brokers Association of Alberta, and The International Order of the Blue Goose.

Mission and Values

Mission Statement:

To put our Customers first and provide peace of mind.

Our Values:

Integrity Our customer's interests are always top priority in our decision making process. We are committed to our communities & giving back in a meaningful way.
Authenticity At L&Y you can just be you. We celebrate diversity and encourage originality in our organization.
Innovation We are always evolving and looking for ways to do things better. Our entire team is continuously striving toward operational excellence.
Family Relationships demand honesty, care and hard work. A strong family spirit is built on strong relationships and trust.

Why Choose A Broker?

Insurance is a complicated commodity. There are minimum legal requirements for certain kinds of coverage, minimum kinds of coverage for certain kinds of things and there are things that you can't get coverage for. The rules are constantly changing and to stay on top of what is the best that can be done for your circumstances at the best possible price, you need an insurance broker to look after your insurance needs. The insurance broker invests the time necessary to learn what kinds of insurance customers the insurance companies want. Matching the insurance customer with the company that wants to insure those kinds of customers results in a good rate for the customer and a good customer for the insurer. It isn't any more complicated than that!

You need help making your insurance decisions. You need to know that what you have purchased will meet your needs. You need to know that what you purchased meets the legal requirements. You need to know that the people working for you by choice put your interests ahead of theirs. That is what brokers do! Chose a broker and you will find them dedicated to meeting your needs not theirs. It is how we judge each other in front of our customers and those who don't meet our own standards are separated from the business we do. Choose a broker; they will work for you before their own interests. It is what we do.

What People Are Saying ABout Lundgren & Young

"When I was searching for insurance for my employer last year, Tara [Commercial Lundgren & Young Broker] was just awesome, helped me to learn what was required for the type of business, she went way beyond what anyone else had done for us. Thanks Tara!"
- Judy Slaughter

"Dealing with Lundgren & Young Insurance for the past 25 years has been exceptional! Tara [Commercial Lundgren & Young Broker] has always gone beyond my expectations by quickly answering any business or personal insurance questions. We called from Maui about coverage for a rental vehicle and she got the answer right away. =)

I have quite a bit of real estate and being able to meet anywhere with her makes it very convenient and a time saver for me. I would highly recommend Lundgren & Young!!!"
- Kuen Chow

"Our broker is so amazingly helpful. The underwriters are also due kudos! I would recommend this company to anyone. Mega thanks to Tara and support at Lundgren.
- Jody DeSante

"Always need a good insurance company on your side."
- Bonnie White