Midlands Business Profiles
Headlines in the Midlands
Continental American Insurance Company
May 22, 2007
From his office window overlooking Devine Street, Christian Goodall has a perfect view of "the prettiest spring in Columbia."Goodall, chairman and CEO of Continental American Insurance Company, also has his eye on the many changes in the business world. While many employers have reduced their own spending on employee benefits, they've also greatly expanded the choices for insurance coverage and other financial planning available to their employees through payroll deduction.
In fact, says Goodall, "What was once simply called 'payroll deduction' is now ‚'worksite marketing.‚'"
Continental American offers a full line of insurance products, including coverage for critical illness, accident, hospital indemnity, disability income, cancer and life.
"When my father started the company, there were very few insurers offering these kinds of products in the workplace," said Goodall. "But with the reduction of employer-paid benefits, the choices for workers have exploded."
Continental American sets itself apart by its customized and flexible approach to the market. While Continental American offers products for all sizes of companies, it has developed a particular niche; providing services for companies with at least 5,000 employees. The company's largest account has over 15,000 employees insured. Some of the company's better known clients include Food Lion, United Airlines, JC Penny, and Harley Davidson.
Goodall's father Leon founded the company as Carolina Continental in 1980. He remains Chairman Emeritus and is still actively involved in the company's management. The younger Goodall practiced law for 13 years before joining the company in 1995. One of his first actions was to change the name of the company to Continental American.
"While Columbia is our home, the name better reflects the national reach of the company," Goodall said. Continental American is currently licensed in 46 states.
Goodall credits the employees for the company's growth and success. "Our Executive Committee, which includes Dad, myself, Gene Sorrel and Rob Moran, helps set the direction and strategy of the company, while the employees ensure the implementation of that strategy." Sorrel serves as President and Chief Marketing Officer and is the driving force behind the company's phenomenal growth in sales. He is a 2006 inductee into the Worksite Marketing Hall of Fame.
"We're big enough to offer competitive products and services, but we're small enough to adapt quickly to the marketplace," Goodall says. "We can call the executive team together and come to a quick decision, and it's not unusual to have that decision already being implemented before I can even get back up here to my office."
"The biggest challenge for the company today is maintaining its current annual growth rate of over 20 percent for sales and profits and dealing with now being well-known in the market."
"We used to be able to operate a bit under the radar, but we're now known by the competitors in our business. That's a challenge but a very welcome one," said Goodall.
