Finding success in the excess and surplus lines sector means building relationships, finding a specialty, putting in the work and getting creative in both hard and soft market cycles, young wholesalers say.
“Technical knowledge is important, but 95% of the work is about our agents knowing they can trust us to get the job done,” says CRC Group broker Julia Davis. “Be willing to learn, get as much exposure to your carrier underwriters as possible, and go to every event that you are able to. Your success in the business relies heavily on the relationships you create.”
Justin Milhollan, vice president of casualty at Amwins, recommends finding a specialty. “Being a generalist in wholesale is becoming increasingly antiquated,” he said. “(Grow) competence within your specialization. You don’t have to be the smartest person in the room but should strive to be the most curious.”
Kevin Hahn, Jencap Specialty Insurance Services, says that achieving success in the wholesale sector has a lot to do with a person’s mindset. “When I look at top performers within my own company and around the industry, it appears to me that the ‘hard workers’ always seem to rise to the top. So first and foremost, it’s work ethic.”
Success comes down to tenacity, says CJ Nash, CRC Group. “For every win we have, we can have twice the number of losses, and that can be quite a burden on your confidence as a broker/underwriter,” he said. “It is hard to bounce back, but you put yourself in the position to succeed by not being afraid to hear ‘no’ again and again,” he said.
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