Building lasting partnerships in the insurance industry requires a thoughtful and strategic approach, emphasizing trust, collaboration, and mutual growth. Beth Montgomery (pictured right), vice president of company relations at the Big “I” (Independent Insurance Agents and Brokers of America), has spent nearly three decades embodying these principles. Recognized for her contributions, Montgomery was recently awarded the IMCA's Icon Award, a testament to her leadership and impact on the insurance industry.
In a recent conversation with Insurance Business, Montgomery shared her insights on what it takes to succeed, her strategies for nurturing partnerships, and the profound impact of mentoring the next generation of professionals.
When asked about the most effective strategies for building and maintaining long-term partnerships in insurance, Montgomery emphasized the importance of intentionality.
“To build a successful relationship, you need a well-thought-out strategy. At the heart of that strategy lies one essential element: listening. Listening is always the key to success," Montgomery emphasized.
She also highlighted the power of personal touches in building meaningful connections, such as sending handwritten notes to clients or colleagues. “The handwritten note is a lost art,” Montgomery remarked. “When you take the time to send one, you’ll be pleasantly surprised by the appreciative responses you receive.”
"My teammates might laugh sometimes, but, right now, I’m in the middle of writing holiday cards. Writing personal notes is time-consuming, but it feels good to take the time to connect this way,” revealed Montgomery. “Even if the card ends up in the trash, I know I’ve made an effort to reach out in a meaningful way, something you can’t quite replicate over e-mail.”
Another key element of Montgomery's approach is building relationships that extend beyond professional interactions. “Take the time to connect with partners, executives, or clients outside the usual business setting,” she emphasized. “Whether it’s a walk, a coffee meeting, or even a casual Zoom chat, these moments are invaluable for getting to know the people you work with.”
Montgomery credited the kindness of her mentors early in her career for shaping her personable approach. “A group of women helped me when I first got into the industry 28 years ago. Their kindness—introducing me to their teams, inviting me to dinners—was what I built my strategy on,” she said.
In addition to relationship building, Montgomery believes three core traits set exceptional insurance professionals apart: integrity, industry knowledge, and customer-centricity.
As a leader in a traditionally male-dominated industry, Montgomery is passionate about mentoring women. Her approach centers on inclusion and encouragement. “At my table, there is always a seat for women professionals—whether they’re the next generation or a seasoned professional.”
For Montgomery, the key is connecting people and ensuring women have the opportunity to meet other professionals and expand their networks. She also emphasized the importance of building confidence, noting, "Confidence is everything, and women often downplay their accomplishments due to imposter syndrome. It's important to celebrate your wins, not in a boastful way, but by acknowledging your successes."
Speaking to young women at the start of their careers in insurance, Montgomery advised them to focus on building networks and making new connections, while never forgetting those who supported them along the way. She draws inspiration from a timeless Girl Scout motto: "Make new friends, but keep the old; one is silver, the other is gold." "Relationships are king in our industry," she explained, urging women to continuously build and nurture their professional circles.
Offering a final tip for young professionals, Montgomery stressed the value of emulating traits from those you admire. "If you see a trait in a professional woman that resonates with you, try it out—it’s not stealing; it's learning from what works," she explained. "They are successful, and you can be successful too."
