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Insuring Self-Employment
Mabelyn Lopez is the Owner and Operator of 4 Insurance LLC located in Lynn, Massachusetts. Mabelyn is a first-generation American with deep roots and love for the Dominican Republic where her family immigrated from. Her father received his masters in Engineering and her mother was a business owner for over 35 years. It’s through their examples that she continues the tradition of entrepreneurship and a commitment to give back to her community. 4 Insurance LLC offers many types of personal and business insurance as well as a variety of industry insurance options. Their ability to provide services in various languages allows them to meet community needs and truly understand their unique situations.
When and why did you join the NASE?
I became a member of NASE in June 2021 initially because I was excited about the business-to-business opportunity as well as accessing resources for financial assistance and financial education. I also appreciate the one stop nature of NASE that provides discounts, payroll services, tech information and so much more. This feature has saved me months of research. NASE is a convenient way and time saver for both start up and seasoned businesses.
What inspired you to enter the field you are in?
When I think about this question, I laugh to myself because it is an ironic twist of fate. I happened upon this industry by going into my agent’s office to pay my car insurance. He asked me if I spoke Spanish, I said yes and then he offered me a job. I took the job and never looked back. As a bilingual professional I am blessed and honored to provide education and services to Spanish speaking individuals and business owners.
When and why did you start your business?
My inspiration to start my own agency was my passion for helping my clients. A restaurant owner approached me about his insurance. He, along with his 4 brothers, own 4 Mexican Restaurants. Reviewing his policies, I quickly noticed he didn’t have Liquor Liability. I asked him if maybe he had a separate policy and he was not sure. I called his agent at the time to ask if there was a separate policy. The agent informed me the policy had cancelled two years prior. The agency tried communicating with the client, but the language barrier was an issue. In being able to speak with the owner, I was able to determine that 40% of the restaurant’s revenue came from liquor sales. That was a huge exposure that had no coverage just because there wasn’t an agent able to communicate with the client. I started my business in 2021 because I found that the average person is not educated enough about insurance. My goal is to change the misconception about insurance being a “waste of money” or “insurance carriers are thieves.” Insurance is meant to protect your personal and business assets.
How do you market your business?
The main ways I market my business are social media and word of mouth through networking.
What challenges have you faced in your business?
The biggest challenge I faced was lack of Capital after investing in everything I needed to create a strong foundation for my agency. I overcame this by joining networking groups which aided in building business relationships and referral resources. I also learned to utilize local marketing and advertising and I added a self quoting platform on my webpage to allow consumers to generate their own quotes. I also collaborated with the SBA and a local financial institution called Mill Cities Community Investments.
Do you have any employees?
I am planning to hire a full-time employee by the end of the year.
What’s your schedule like, what’s a typical day for you?
As a new business my schedule is quite fluid. I begin Networking from 7:00 a.m. until the office opens at 9:00 am. My days consist of checking emails, calling clients, servicing clients, reviewing and remarketing upcoming renewals. While the office officially closes at 5:00 pm, I normally continue to work long after.
What’s the best thing about being self-employed?
Being able to offer products and services that competitors may not have thought of.
What’s the best compliment you’ve ever received from a client?
The best compliment I ever received was “You made my insurance life so much easier and have taught me more about insurance than I ever knew”. I get a sense of pride when I am able to help people and I love what I do.
What’s the most important piece of advice you would give to someone starting their own business?
Don’t be afraid to ask for help. Recognize your strengths and weaknesses. Start with a simple business plan and grow as needed.
Which NASE member benefit is most important to you?
The all-around resource that NASE provides its members is incomparable to other memberships. Being able to ask a professional about specific laws, taxes, accounting, health benefits is so imperative to start-up businesses. There is so much to learn as a start-up and the education provided by NASE is appreciated.
Any other information you would like to share?
4 Insurance LLC offers a range of insurance products for all individuals and businesses. From Auto, Home, Condo, Renters, to Malpractice, Directors & Officers, Professional Liability for all industries, Truckers, Workers Compensation, General Liability, Pet Insurance and Pet Health. We are a one stop agency that also Networks heavily and provides great referral sources for professionals in all industries such as Employee Benefits, Key Man Insurance, Life Insurance, Real Estate Attorney, Mortgage Lenders, Commercial Lenders, etc. Don’t hesitate to reach out if you have any questions. Call: 855-322-4509 or Email