The last several years have reshaped the landscape of property insurance across the country. While most national carriers have retreated from coastal states, wildfire zones, and other catastrophe-exposed regions, a handful of disciplined players have taken the opposite path—leaning into difficult markets with a strategic, data-driven approach.
One of the most prominent voices in this shift is Terrence McLean, CEO and Co-Founder of SageSure. In a recent episode of the Power Producers Podcast, Terrence walked us through the philosophy, strategy, and operational precision behind SageSure’s ascent to one of the largest property MGUs in the country. His insights reveal a powerful playbook for producers who want to thrive rather than survive in the markets others avoid.
This article breaks down the biggest lessons from our conversation—covering underwriting discipline, carrier-agency relationships, reinsurance dynamics, technology’s role, and what the future holds for catastrophe-exposed business.
The property insurance landscape has been defined by a single trend for over a decade: carriers pulling capacity from high-risk areas.
Florida hurricanes. California wildfires. Gulf Coast storms. Midwest hail. The list goes on.
But where most carriers saw volatility, SageSure saw a gap—and an opportunity.
Terrence’s philosophy is simple: if a market still has good customers, and those customers still need insurance, then capacity can exist for those willing to understand the risk at a deeper level. “Everybody’s running away,” he said. “There must still be product needed. There’s a lot of good business to be had in these markets.”
Instead of chasing the same clean, vanilla business everyone else wants, SageSure was built on the belief that difficult markets reward disciplined underwriters and committed distribution partners.
This mirrors the commercial side as well. Whether dealing with high-mod workers’ compensation accounts, struggling fleets, or distressed operations, a producer who knows how to identify, diagnose, and solve risk can create massive competitive advantage. Opportunity lives where others are reluctant to look.
Before founding SageSure, Terrence spent years immersed in actuarial science, investment banking, and global reinsurance. That combination of skills shaped his perspective on risk in a way few insurance executives experience.
Early in his career, he worked closely with carriers who were writing business without truly understanding their cost of goods sold. The more he dug into the operations, the more he saw a fundamental flaw: many insurers were buying catastrophe reinsurance without understanding how the models worked, what drove pricing, or how to align underwriting appetite with exposure management.
That’s where the idea for SageSure began—not as a carrier or MGA at first, but as a technology platform that improved catastrophe-risk introspection.
Eventually, Terrence realized the biggest impact would come from building a full-scale underwriting operation around that philosophy. In 2009, SageSure wrote its first policy. By 2024, it had grown organically to more than $2 billion in premium. By 2025, including acquisitions, the company surpassed $2.8 billion.
All of it driven by the same core belief: you can profitably write in difficult markets if you truly understand the risk.
Many producers—and even many carriers—take the position that coastal, wildfire, and earthquake-exposed business is inherently unprofitable. According to Terrence, that’s simply not true.
There are three major misconceptions that keep organizations from capitalizing on these markets:
There are plenty of high-quality homes and high-quality customers in catastrophe-prone areas. The problem isn’t the individual risk—it’s aggregation. Large carriers can’t afford to write too many homes in a concentrated zip code because their capital exposure becomes unsustainable.
That leaves profitable pockets of business abandoned.
Terrence shared a staggering insight: homeowners insurance has lost money on underwriting in nearly every multi-year period over the past 30 years.
But why?
Not because the line is impossible—but because many carriers are undisciplined. They write business too broadly, underprice for inflation and materials, fail to validate ITV, or bypass inspections to increase speed.
Discipline creates advantage.
Reinsurance is the single largest expense in catastrophe property underwriting. Most consumers and even many producers have no idea how closely pricing correlates to global reinsurance markets. When reinsurers raise rates, carriers must raise rates. When reinsurers soften, carriers soften.
This is why educating consumers matters—and why disciplined companies like SageSure build long-term reinsurance partnerships instead of playing the short game.
In an era where many industries are being reshaped—or even replaced—by automation, Terrence delivered a strong message:
SageSure is 100% committed to the independent agency distribution model.
He explained why:
For producers, this reinforces a key truth: specialization and expertise matter now more than ever.
Terrence was clear about what separates their highest-performing agency partners from the rest:
Top agencies communicate frequently, openly, and proactively. They treat SageSure as a top-three market—not a backup plan.
They know their customers and submit clean, accurate, detailed applications.
When a problem arises, they collaborate—not complain.
Terrence emphasized that many agents remember the carriers who stayed open when everyone else closed. SageSure’s willingness to write in tough markets built long-term loyalty.
The best agencies understand how underwriting works. They’re not simply seeking the lowest price—they’re seeking the best fit.
This mirrors what successful commercial producers already know: the stronger your relationship with your carrier partners, the more capacity, opportunity, and underwriting flexibility you receive.
Despite massive investments in technology, Terrence was candid about the industry’s limitations. While SageSure has invested hundreds of millions of dollars in tech infrastructure, the biggest breakthroughs still lie ahead.
Where tech helps today:
Where tech still falls short:
The real breakthrough still needed:
A reliable way to assess insurance-to-value before binding, without a physical inspection.
Once this becomes accurate, scalable, and cost-effective, it will revolutionize the entire property insurance ecosystem.
But we’re not there yet—and carriers who pretend we are will continue to get burned.
After years of harsh pricing, shrinking capacity, and unprecedented catastrophe activity, Terrence shared a promising outlook.
Both commercials and personal lines have seen the apex of rate increases in many states.
Double-digit reinsurance rate reductions are expected in 2026. This will directly lower primary insurance premiums.
More carriers are reopening, expanding appetite, or launching new products.
Litigation reform and structural improvements are stabilizing the market.
For producers, this is the time to double down on education, relationship-building, and proactive client communication. The softening market will reward those who help clients understand why relief is finally arriving.
Catastrophe-exposed property is not a line to fear—it is a line to master.
Terrence McLean and SageSure have demonstrated that disciplined underwriting, long-term reinsurance strategy, agent relationships, and operational integrity can turn volatile markets into massive opportunities.
For middle-market and personal lines producers alike, the path forward is clear:
If you do those things consistently, not only will you thrive—you’ll become the kind of producer carriers fight to work with.
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