What's your job about?
Gallagher specialises in providing insurance and risk advisory services to a broad spectrum of clients ranging from small businesses to ASX-listed companies across several industries. As a participant in the graduate program, the past ten months have been a fantastic learning experience rotating into several different teams specialising in various lines of insurance. While the idea of moving into different teams every two or so months may seem daunting, the role of a graduate in my experience is simple: to approach each day with an open mind and a willingness to learn, to find ways to contribute to the team in whatever capacity and to work towards developing an understanding of the fundamental aspects of insurance broking.
Out of the six teams in which I rotated, the Professional and Financial Risks team stood out to me based on their specialisation of insurance lines which I found most interesting. During the two months, I was with the team, I was allowed to experience some of the responsibilities completed by an account executive in assisting account managers throughout the renewal process for each client.
These include: reaching out to existing clients in the lead-up to the renewal of their policies, obtaining quotes from insurers, reviewing quote terms from insurers to determine the most appropriate solution for the client, assisting account managers in drafting renewal reports and liaising with insurers to bring the renewal process to completion.
What's your background?
I grew up in the Macarthur region of southwest Sydney. From an early age, I had a keen interest in classical piano performance which I eventually pursued as part of a dual degree (Music/Commerce) at the University of New South Wales. After completing my Associate Performance Diploma through the Australian Music Examinations Board as a third-year uni student, my focus then shifted towards piano teaching. What started as a hobby teaching a handful of students eventually grew into a small business. Through networking opportunities, I was able to work across three private schools as a peripatetic tutor whilst also teaching students at my home studio. By the end of my undergraduate studies, my clientele had grown to an average of 75 students per week, allowing me to achieve a goal I had set for myself during my early days at uni which was to graduate with a full-time business and a stable music career.
Having accomplished my goal, I realised that the ‘destination’ just wasn’t enough for me
I wanted to be challenged in different ways. After spending five years working to turn my passion into a stable business, I knew it was time to challenge myself in different ways by entering an entirely different industry. This ultimately led to the opportunity to join Gallagher through the graduate program. While it did not seem obvious at first, running my own business as a piano teacher features similarities to the job of an insurance broker and at its core, both roles are all about delivering a high level of customer service and expertise to a portfolio of clients.
Could someone with a different background do your job?
The insurance industry is filled with people of widely varying backgrounds, whether it be in terms of education or work experience (take me, for example!). Whilst it takes time to develop the kind of specialised knowledge required to fill higher-level positions, I think the following ‘baseline’ skills are applicable across both higher and entry-level positions to be successful: the ability to solve problems, to communicate clearly and effectively with various stakeholders and to be conscientious in the servicing of clients and the completion of daily tasks.
What's the coolest thing about your job?
The ability to quantify the value that our expertise can bring to clients, whether it be premium savings, more comprehensive coverage or even strategic advice applicable to the broader operations of the client’s business, is an aspect of the job I find fulfilling. Additionally, having the opportunity to thoroughly understand the businesses of our clients across a range of industries is something I have enjoyed and has helped link concepts learnt at uni to real-world applications.
What are the limitations of your job?
Given that the job is all about working in a dynamic environment involving clients from various industries, it is important to set appropriate expectations when it comes to the predictability of an account executive’s workload. Certain factors such as the type of client, industry, number of renewals per month, etc. all have an impact on workload intensity in any given month. Thus, if a consistent and predictable workload is considered an important factor for an ‘ideal’ job, this role may not be suitable. All things considered, it’s important to remember that we are servicing clients each with different expectations and requirements relative to their business so flexibility and adaptability a prerequisites in this role.
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