How did you get into insurance?
I knew I wanted to get a job in financial services as I entered college. My father worked in wealth management, so I became familiar with the industry through his experiences and stories. In my senior year of college, I worked at AXA Advisors and earned my Series licenses.
At the time, I was in touch with a Lockton recruiter I met at a college career fair. A position opened at Lockton that was focused on serving commercial accounts—something I was particularly interested in doing. I now specialize in professional liability and cyber-liability for financial professionals and work with a select group of law firms.
What technology do you use on a daily basis, and how robust are the insurer capabilities for products you sell?
I spend my day in email. We are making progress to enhance our CRM environment so that we can drive deeper account insights and help provide a better service experience for our clients.
My specialty is professional liability and cyber insurance. Lockton recently revamped its cyber insurance program. We created a great product in partnership with a large, international carrier, and we have strong technology to support the sales process. However, this is unfortunately out of the normal. Many of the other lines I represent have limited technology, and many of the processes are paper-based. My clients are extremely busy people, and completing a lengthy application with several supplements can stifle momentum. The lack of technology is hindering my ability to be an effective risk consultant.
In light of the pandemic, I have noticed that these paper-based processes are becoming more challenging. For example, several of my prospective clients do not have printers or scanners at home—so asking for a wet signature is becoming burdensome. I’d like to see my lines of business adopt digital applications and e-signature capabilities—these capabilities are commonplace for many standard personal lines policies. Overall, I believe the pandemic has reduced some of the reticence around technology adoption by corporations and individuals.
What advice would you give to an agent that is just entering the industry?
The advice I typically provide to any new agent: 1. Learn your clients and their business; 2. Study the insurance programs you represent.
Agents need to know their client base and understand what drives their business as well as what keeps them awake at night. An agent needs to become familiar with industry terminology so that they can have a conversation with business leaders without having to ask too many questions. A key thing to remember is that these prospective clients are coming to you for insurance advice. In turn, you need to know your policies like the back of your hand and be able to communicate the benefits and drawbacks of each product.
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