Fostering the future of insurance broking
Members of NIBA's NSW Young Professionals Committee, Andrew Faber of MGA, Noel Kelly of Austbrokers and Scott Woodward of Zurich, explain how and why the industry is acting now to develop young talent.
Video transcript below:
Andrew Faber, MGA Insurance Brokers
Andrew Faber: I think all of us have a responsibility to look at what we can do to try and attract people into the industry. And I think it is something that is important to everyone. Everyone has, you know everyone has something to gain out of getting more people into the industry and good quality talent through.
Scott Woodward, Broker Manager, Zurich Financial Services, Australia
Scott Woodward: Insurance as an industry really needs to rely on the younger generation coming through.
Andrew Faber: We need to replenish the people as they go through their retirement process and we need to get good young talent coming through to replace those people. And as well as we are going to have a period over the next 5 – 10 years where a lot of the knowledge and you know intellectual property within the insurance industry is going to be retiring.
Scott Woodward: If individuals who are looking to enter the industry can say a committee of young professionals who have gone through the challenges and gone through the process that you may be facing as a young person entering the industry. It almost breaks down barriers that you may see. We can all relate to our colleagues and our peers as opposed to our managers, so I think it’s quite important and one thing that NIBA is doing with all its programs such as the school leaver program, the mentoring program, it is breaking down those barriers and it’s saying that young people are in the industry and they want to support you to enter and develop in it.
Noel Kelly, Austbrokers AEI Transport Pty. Ltd.
Noel Kelly: In terms of professional development, I think the mentoring program gives the mentees a lot of clear focus on what they want to do, when they set out their goals initially. Whether they want to be more involved in presentations internally within that business and gain those presentation skills or just be more client focused, they can focus on these skills throughout the program.
Andrew Faber: Personal brand is something that is so important to any person going through a young, specially the younger people coming in as well, that’s how they get noticed, that’s how they get seen by senior people within the industry. So specially if you are working with some of the larger companies where it’s easy to sometimes be lost amongst the sea of people in the company, if you can really have a strong personal brand and that’s all about how you present yourself, how you deliver in front of meetings, you know you may get one opportunity to, opportunity within that company to present in a meeting that may have a fairly senior person who is a couple of rungs up the ladder from yourself that may see, you know something in your presentation, your delivery skill that they go, “well that’s person is going to be, is going to go somewhere within our company, we want to foster that talent”. So, I think it’s a good way of demonstrating your capabilities and your abilities in a very small instance, because it’s quite hard for people to see all the work that you may do behind scenes, but when you are actually presenting in front of people, that’s where you get to deliver who you are and present your own brand.