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Sunday, May 29, 2022

What is an “absolutely essential component” of insurance?

How did you become a broker? What in particular do you like about broking?

While I was attending the University of Iowa, my father’s cousin, Jim Keough, introduced me to Gallagher’s program area chief, and I had an internship opportunity. I worked hard and was lucky to get a job offer after my internship.

I became an expert in a field that enabled me to advance more rapidly in my career. Insurance is complex, and I enjoy finding solutions for clients that can help their company reduce costs and solve problems.

Additionally, I enjoy the range and diversity of my job, along with the people I work with. The industry is always changing, so there are always new products and tools to explore and expand. At Holmes Murphy, we have over 1,000 employees and their exceptional knowledge, expertise and care for each other is unmatched by our customers, community and industry. Each of our employees is committed to growing our 90-year-old privately held company forward to ensure that we are always the best-in-class for our customers.

Can you tell me about your role and its major responsibilities?

As President and CEO of Holmes Murphy, I work closely with Holmes Murphy and the leadership teams at our subsidiaries. At Holmes Murphy, we are always working on new and innovative innovations to help our clients identify their risks early, and reduce costs faster. Whether it includes employee benefits, cyber-risk, construction, mental health and wellbeing and more, our team of insurance professionals are real problem solvers working on issues affecting the daily lives of our clients. This is another way we move forward with care and compassion to achieve our full potential together.

Another aspect of my role is to ensure that we provide best-in-class products and solutions for our customers. With that said, finding money-saving options is just the beginning. At Holmes Murphy, we work with the individual business culture of our clients to ensure that they are provided with quality care for their unique situation.

Also in my role, I advocate, sponsor and support many of the initiatives identified by Holmes Murphy to help advance the industry as a whole. As one of the largest independent insurance brokerages in the country, we see this as one of our core responsibilities.

For example, as co-founder and majority owner of BrokerTech Ventures with M3 Insurance, Holmes Murphy has brought together 15 super-regional brokerage firms and 14 insurance company partners to innovate the industry. We are embracing innovation to help companies large and small to identify risks early and reduce costs rapidly, with a determined mission to lead the way for the future of the insurance industry.

I believe that my biggest role, however, is to care for our people, customers and the communities in which we live. Our purpose statement, “Caring for your unique potential is our soul purpose,” is how we do business – we seek to help all stakeholders reach their unique potential. We believe in this a lot.

In fact, between 2019 and 2021 alone, the Holmes Murphy Foundation awarded more than $3,875,740 in Community Foundation, Direct Giving and Employee Match dollars to the communities where our employees live, work and play. It is an honor to be part of a company committed to supporting organizations that help create a brighter future for our families, friends, colleagues, customers and partners in every Holmes Murphy market across the country.

As CEO of Holmes Murphy & Associates and Co-CEO of BrokerTech Ventures, what do you think are the major challenges facing brokers in the post-pandemic world?

Our industry is in a state of constant change, exacerbated by current health challenges. If the pandemic has proved anything, it’s that innovation is an extremely essential component of the health and insurance sector. We have seen time and again that companies that are able to adapt will thrive in such situations. Likewise, if there is a main driving force behind all this, it is that we do not always know what challenges may lie ahead, but it is necessary to be prepared for the unexpected.

I am extremely grateful to our team for continuing to prioritize our customers in some of the most challenging times and for how they have continued to work on our core principles.

Of course, I think a big part of leading in this mindset is making sure that our team has the drive and resources needed to excel in their position. At Holmes Murphy, we have always taken a vested interest in the well-being of our employees, and this has been especially important during the pandemic. Our leadership understands that the care of our employees is directly related to the services they provide. In fact, as part of this, we created a business called Ethos that specifically focuses on the whole individual and their overall well being. We engage this team with the employee experience community we’ve built to ensure our employees get what they need when they need them.

While not always being able to gather in person can present challenges and obstacles, we have also found creative ways to keep in touch and stay connected. Whether it’s through a personal phone call, a handwritten note, or simply an email “check-in,” ensuring that our employees are OK and have what they need to be successful, at Holmes Murphy our A fundamental part of culture and an important step. In continuous innovation.

What are the key ways in which you are able to support your customers right now?

We have a great team with a deep level of expertise focused on exceeding our clients’ expectations. We want to bring clients new ideas and reduce costs fast – BrokerTech Ventures is the latest example of how we do it.

Holmes Murphy continues to grow, developing the sustainability of leadership to be independent based on the traditions and virtues that our organization established 90 years ago.

Being a private and growing insurance brokerage in an industry filled with consolidation is unique, and we are extremely proud to showcase this core philosophy. We would not be here without the dedication to excellence and relentless care for our customers and communities from our employees and our leadership, and the fact that we remain independent where it should be – innovating for the sake of our customers.

What are some of the top tips you would provide to brokers looking to successfully embrace new innovations at the moment?

Overall, I think it really comes down to having an open mind and listening closely to fully understand customers. If you work to establish relationships with customers and listen to what their challenges are, it will get to the root of the issues they face, and likely there is some sort of solution that will meet their needs. uniquely qualified to complete.

Understanding not only their needs in terms of coverage, but also other aspects, such as their motivation and long-term business goals, all play a factor. I also think it’s important to understand each customer’s culture. As we’ve all seen over the years, a culture can make or break an organization, so it’s a risk a customer doesn’t understand this area of ​​business.

Insurtech resources have come such a long way even in the last few years, so in my perspective, it is all about surrounding ourselves with a team that innovates keeping in mind the industry trends and best practices for the current scenario. Will be on the verge of , The world of insurance may seem intimidating to new brokers and clients alike, but it is also a fascinating collaboration between business, technology and strategy with many opportunities for growth and an exciting career.

At the end of the day, we should all be open to what we don’t know. We are at an interesting crossroads right now with the pace of business transformation. The Insurtech movement is trying to lead the way to help, and through this, we can learn from them and apply it to how we can move our customers forward.

World Nation News Deskhttps://www.worldnationnews.com
World Nation News is a digital news portal website. Which provides important and latest breaking news updates to our audience in an effective and efficient ways, like world’s top stories, entertainment, sports, technology and much more news.
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