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It’s not often a Peabody business hosts power brokers at a conference in a posh Washington, D.C., conference center. Then again, Energi Insurance isn’t a typical Peabody business.
Energi, an industrial reinsurance company serving the energy industry, will host its annual Risk Management & Insurance Summit from Oct. 11-15 in the nation’s capital. It’s the first time the company is holding the event in Washington. Its first conference, held at Gillette Stadium in 2010, attracted about 70 people, according to Energi CEO and President Brian McCarthy. The October conference is expected to draw more than 1,000 attendees.
Energi has mobile training centers that can train up to six truck drivers at a time.
Energi has mobile training centers that can train up to six truck drivers at a time.
The conference’s growth mirrors that of the company. Energi, which was founded in 2005, has experienced approximately 50 percent year-over-year revenue growth over the past five years, McCarthy said, finishing with $205 million in revenues from its written premiums last year.
The insurer employs 130 employees in Massachusetts, in addition to 30 third-party employees that perform claims administration and other work for Energi, according to McCarthy. He expects overall employment in Massachusetts to rise to 350 people in the next five years. It recently expanded its main office by 22,000 square feet to accommodate new hires.
McCarthy traces the company’s success to its combination of insurance services with risk management programs. Its clients can use its advanced simulators for truck drivers, allowing them to practice handling blowouts and other emergencies. It will also send fire and explosion experts to help clients with investigations. “Policyholders and industry executives had been frustrated by insurers not providing meaningful loss prevention and aggressive claims management programs,” he said.
Former Secretary of State Condoleezza Rice is serving as the October conference’s keynote speaker. Putting the event in Washington will allow more of the regulators that the company’s energy clients want to speak with to attend, including those from the Department of Transportation and the Occupational Safety and Health Administration.
