John Witty

During the current economic environment, many people might cringe at the idea of starting their own business, particularly in the troubled insurance industry.

Staff Photo by Dan Henry
John Witty recently opened Chattanooga Insurance which is located in suite 314 of the Chattanooga Business Development Center.

But for John Witty, this is the perfect time.

“I definitely think the economy is going through a transition, and it is going to be difficult over the next year or 18 months, but one thing that seems to never go out of style is good service and good products,” he said.

Mr. Witty, 56, launched Chattanooga Insurance Agency about three months ago.

“It’s a fine time for us,” he said. “I’m very excited about 2009 and think it has some great opportunities for us.”

Mr. Witty opened his three-employee office in the Business Development Center, 100 Cherokee Blvd., Suite 314, with his wife, Linda, and his daughter, Ellen Witty Bell.

Kathryn Foster, director of small business and entrepreneurship at the BDC, said any businesses that operates out of the rent-subsidized center must meet several criteria including having a specific business strategy.

The strict criteria and screening process is what give businesses there an 87 percent success rate, she said.

“Every start-up needs to have an attorney, an accountant and an insurance agent, so to have him here on site, we were just delighted,” Ms. Foster said.

Mr. Witty moved to Chattanooga from Memphis about 26 years ago and went to work in human resources for Lovemans, a Chattanooga-based department store chain. In that capacity he purchased insurance plans for Lovemans’ employees.

He later worked as a “captive agent,” which is an representative for a single insurance company, rather than an agency offering a number of products from multiple insurers. He later worked for an independent agency.

“I got the experience I needed to open my own insurance company,” Mr. Witty said.

Steven Parker, regional sales manager with MetLife Insurance, first met Mr. Witty when he was working with another insurance company. He feels certain Mr. Witty’s business will be successful despite the current economic climate.

“Auto insurance and life insurance are necessities that people have to have,” Mr. Parker said. “As far as the economic environment, it is even more crucial today than it was two or three years ago that people are insured properly.”

Chattanooga Insurance Agency sells property, liability and workers’ compensation policies to small and medium-sized businesses as well as home, automobile and life insurance policies to individuals.

“What we are trying to do is develop relationships with individuals, whether it be companies, individuals or families and grow with them,” he said. “I like dealing with people, I like solving problems, and I like trying to connect with the community.”