The Milan News-Leader
A Heritage Newspaper
Weekly Publication
A drive to succeed
Smith an institution
By Sue G. Collins, Special Writer
PUBLISHED: February 22, 2007
For 25 years, Carole Smith has been providing Milan homeowners, motorists, business owners and farmers with peace of mind.
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Owner of her own full-service agency since 1982, Carole L. Smith Insurance, she has written thousands of policies in and around Milan, witnessed many changes in the industry and has influenced how the nation insures women.
"There weren't many women working in the insurance business when I started, and even fewer female business owners," said Smith from her office in the 1880s-era farmhouse on Wells Road, located next to where she and her husband, Bill, of 48 years, live. "I immediately joined the NAIW (National Association of Insurance Women) in Ann Arbor, which was the only place women could get training, education and networking opportunities at the time."
The NAIW was founded in the 1940s with 2,000 members, boasted 21,500 members when Smith joined in the 1982 and continues to grow by emphasizing education and networking.
Through the organization, Smith was chosen to represent the insurance industry in the mid-1980s at a state legislative conference to reform the Unisex Rating. As a result of changes determined by that committee, women and men are now rated as equal risks for automobile insurance. Previously, women had been less of a risk.
"It's true, women have changed and now young women, especially, are as aggressive on the road as young men," Smith said.
Over the years, Smith also has seen extreme changes in health insurance.
"The reforms have created an entire new category of employment for medical insurance clerks who can wade through the differences and the paperwork," she said.
At her agency, Smith keeps up with Blue Cross and is in the process of creating a group plan to offer benefits for members of the Milan and Ann Arbor chambers of commerce.
Before opening her own agency, Smith worked in insurance for 20 years, heading back to work part time just after her twin sons, Mark and Mitch, were born. Mitch now joins his mother at the agency. Together they have seen changes in homeowner coverage during the last decade or so.
While coverage for theft was once rarely a concern, it's now the main concern for new policy owners. Also, Smith said, the cost of replacement is a critical concern.
Smith has been an active member of the Milan Area Chamber of Commerce and is currently on the board of directors for the Milan Area Historical Society, Monroe County Association of Insurance Professionals and the Michigan State Council of MAIW.
"Carole has been an important member of our business community for years and has supported so many efforts in Milan to grow the chamber and sustain our town's economy," said Norma Shull Smith of the Milan chamber. "She's a wonderful role model for any business owner and especially for women."
Smith is also a member of the group sponsored by the Milan Are Chamber of Commerce for home-based businesses who are gathering for their annual exposition in March. She and her husband are collectors of antique cars and enjoy the annual car cruise in Milan.
Her advice to women thinking of staring their own business is simple.
"You've got to want it bad because it is a lot of work, but so very rewarding," she said. "It's certainly a lot easier starting out now, as compared to 25 years ago."
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