The Insurance Scion Who’s Out to Save Human Driving

McKeel Hagerty’s parents were into wooden boats and saw an unmet need to underwrite them. Hagerty, however, has been a car nut from day one. When the family’s marine insurance business finally began to offer auto policies in 1991, he saw a chance to join the fold and, along with his sisters, Tammy and Kim, stomp on the pedal.

Hagerty, 54, today is CEO of the Traverse City, Michigan-based company. The eponymous insurance business has slowly expanded over the years, launching a magazine, a video platform, a valuation tool, and a line of storage facilities. The company also bought some of the most famous classic car shows (known as concours) in the world. In early December, Hagerty went public via a special purpose acquisition company, a few days before debuting a marketplace of its own where members can buy and sell vehicles.