In its time and turn, the insurance sector has played host to a myriad of leaders, each of whom has made their own stamp on the market and played their part in its ongoing evolution. From conversations with retired or soon-to-be-retiring leaders across the sector, it has become apparent that insurance operates its own little ‘Hotel California’, where you can check out any time you like, but you can never leave.
The pleasant irony that it is the same industry which – sometimes proudly, often ruefully – wears the distinctive trademark of being one that people “fall into” that is offering so many individuals such lasting and fulfilling careers is not to be ignored.
Last week, the British Insurance Brokers’ Association (BIBA) marked the retirement of its longest-serving chief executive Steve White in style at the Tower of London. It was a fitting venue for the occasion which saw executives, government officials and familiar faces from across the sector come together to pay tribute to an insurance stalwart who has worked tirelessly to strengthen the reputation of the insurance broking market.
Steve White’s accomplishments speak for themselves – under his tenure, the BIBA conference grew significantly, becoming the largest insurance broking event in the UK and one of the biggest in the world. Alongside this, he championed diversity, equity and inclusion initiatives within the association while helping BIBA become a one-stop-shop for brokers, politicians, media, and the regulator on insurance broker issues.
However, during the course of the evening’s speeches, two things were thrown into sharp relief. Firstly, that BIBA is in incredibly safe hands as Graeme Trudgill steps up as CEO. And secondly, that as important as every one of the above accomplishments is, what people remember most is the spirit in which such milestones are delivered. The ability to take your job very seriously without taking yourself very seriously is a rare ability – and one on full display from Steve White, Graeme Trudgill and the wider BIBA team.
The diverse array of personality types, skills and backgrounds at play in the industry writes off the idea that there is any specific set of characteristics inherent to great insurance leaders. But while not mandated, there is a fine through-line of good humour, energy and optimism that connects these leaders and, more importantly, connects them with the people around them.
Now more than ever, the profession needs great leaders as the external market conditions facing insurance businesses and their customers continue to depict a tumultuous and challenging horizon. But this cannot afford to be limited to C-Suite executives, general managers and others in positions where their responsibilities spell out their leadership duties. To paraphrase the legendary signal sent by the British naval commander Horatio Nelson, insurance expects everyone will do their duty.
This duty is such – not just that insurance professionals will recognise, support and celebrate the leaders in their midst – but also that they become them. The gauntlet has been thrown down not just by the 100 global insurance professionals recognised by Insurance Business this year but also closer to home, in the recent Rising Stars report which recognised no less than 52 upcoming industry leaders.
The drive to find the next generation of Steve White’s who will look to support the insurance industry while enabling the next stage of its evolution is being fostered by the Insurance Cultural Awareness Network (iCAN) which will host its Aviva-sponsored Elevate Conference - Empowering Gen Zs in Insurance – next week.
Whether it’s through industry events, internal projects or broader financial services initiatives, it’s never too early or too late to take up a leadership mantle. And from conversations across the market, I can attest to the value of doing so as among the lives you will change, might well be your own.
What are your thoughts on this story? Feel free to share them in the comment box below.
