Douglas N. Raucy has served as the President and Chief Executive Officer and as a member of the board of directors of 1347 Property Insurance Holdings, Inc., since its inception in October 2012. He has served in the same positions at subsidiaries Maison Insurance Company and Maison Managers Inc. since their inception in October 2012. Prior to joining the company, Mr. Raucy served as the Chief Executive Officer and President and as a member of the board of directors of Access Home Holdings LLC, Access Home Insurance Company and Access Home Managers LLC from August 2011 to October 2012. He also served as the Chief Executive Officer and President and as a member of the board of directors of Prepared Holdings LLC, Prepared Insurance Company and Prepared Managers LLC. From January 2001 to August 2008, he served as the Chief Operating Officer of the Institute of Business and Home Safety, or IBHS, a property mitigation firm that focuses on disaster-resistance property research and education.
Mr. Raucy’s prior executive experience also includes positions held during his 20-year tenure at Allstate Insurance Company, including his role as the Director and Founder of the National Catastrophe Team and National Catastrophe Center from 1995 through 2001, where he led the Allstate Insurance Company efforts for every major national catastrophe. He previously served as a member of the advisory board for Marshall Swift/Boech and a consultant to the Ocean Research & Resources Advisory Panel, a U.S. federal advisory committee studying the effects of the ocean on global weather patterns. Mr. Raucy obtained a bachelor’s degree from Utah State University.
In his exclusive interview with the Wall Street Transcript, Mr. Raucy details his current status as well as the future growth strategy for Property Insurance (NASDAQ: PIH)
“A lot of milestones. We ended the year with over 50,000 policies in force, which is really pretty amazing for us because we’re not one of these Florida takeout companies that just take out 50,000 policies overnight. These are typically all policies that we’ve underwritten, most of them we’ve gained organically through the independent agency network, and we know every one of them, so we know they are good policies, we’re happy with what we have. About 34,000 at the end of the year were in Louisiana, about another 12,000 at the end of the year were in Texas, and we ended up with about 4,000 or so in Florida. So we’re starting to get some pretty good spread. We just recently got into Florida, though; we went in at the end of last year. So we’re in three states now. All the 50,000 policies were closing in on $100 million in premium. ”
Read the entire interview at the Wall Street Transcript for the complete detail on Property Insurance Holdings and its recipe for success.
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