Rey Insurance Agency
Outstanding Minority-Owned Business
Linda Rey and Laura Iannarelli, Rey Insurance Agency
Photograph by Michael Polito
If laughter were truly the best medicine, Linda Rey’s delightful chuckle might help lower your medical insurance premium. She laughs heartily, labeling insurance “a necessary evil,” and recalling how her father, Frank, founded Rey Insurance Agency in 1978. As a first-generation American with Spanish as his first language, Frank Rey built the business by helping fellow bilingual residents in Sleepy Hollow shop for insurance. In 2008, he handed the reins to Linda and her sister, Laura Iannarelli, who’ve been working there since the late ’90s. In 2013, Linda and Laura purchased the company from their father.
“My dad taught us how to be resourceful, because things change so rapidly in the business,” Linda recalls.
That resourcefulness has paid off. Since taking over the company in 2008, the Reys have grown the business by 700 percent, and they’ve hired two more employees to handle a 15 percent increase in personal insurance clients and a 20 percent rise in business insurance clients. They’ve also boosted their client retention rate to 94 percent from 89 percent.
Despite the strong business success, Linda says she’s proudest of the firm’s work within the community. The Reys support groups that educate students about taking risks—like using their phones while driving—fostering habits that can lower their insurance rates and save lives.
“It’s not even to increase business,” Linda says. “It’s to minimize the danger of the reason you need the insurance in the first place.”