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 Become An Agent Of Change

Skip Waugh
 
TODAY’S INSURANCE INDUSTRY IS NOT YOUR FATHER’S INSURANCE INDUSTRY
 
The insurance industry is not what it used to be. Banks, securities firms, as well as the government now offer what was once the sole province of traditional insurance companies. The field will continue to evolve into new arenas as the industry takes better advantage of technology, addresses cyber-risk, and offers new financial/insurance products for tomorrow’s retirees. Those willing to embrace change, build relationships, and are adaptable to a competitive environment are well positioned for a successful career in insurance.
 
FINDING FLEXIBILITY AT COLONIAL LIFE Amir Abdullah characterizes himself as a life-long learner. The Chicago-native, while a solid student in high school, struggled with math. However, when he attended Bowdoin College (Brunswick, ME), he chose to stick with math as a major, believing it to be the perfect fit with evolving technology and the different skills required. “It was less about the content but more about the ancillary skills I was developing in the process of doing problems,” he explains. He graduated from Bowdoin in 2010 with a double major in math and economics and a minor in teaching.
 
After graduating, Abdullah had an open mind about which field to enter as well as several criteria for the type of job he wanted. Flexibility was at the top of the list. Abdullah want to be able to move around and within an organization. “I wanted to see how the different pieces of the business connected. I really like to see the bird’s eye view and understand how things are related,” he says.
 
Flexibility also played a secondary role. Abdullah was particularly interested in whether his future employer allowed staff the flexibility to pursue service opportunities they felt passionate about.
 
Unum (Chattanooga, TN) and its sister company, Colonial Life (Columbia, SC) met the mark on both characteristics. The Unum Group consists of the Unum U.S. and Colonial Life businesses. Unum U.S. is a leading provider of employee benefits, which includes disability, life, and voluntary insurance. Colonial Life provides voluntary worksite benefits, which includes disability, life, accident, and critical illness coverage across the US. The Unum Group employs approximately 10,000 employees worldwide.
 
Unum’s Professional Development Program offers the chance to explore different parts of the organization. Abdullah notes that Unum’s program offered another key difference compared to other similar type programs. “What I was running into was a lot of six-month rotational programs. I wasn’t convinced that was long enough to build meaningful relationships, understand what a department did, or add value back to the organization,” he says. “Here, there was an emphasis on longer rotations of 12 to 18 months. There was a consistent emphasis on leadership development and not management development. It was clear it was a longer term investment on the company’s part.”
 
Abdullah started in underwriting at Unum straight out of college. “I thought I did a pretty good job. By the 18th-month mark, I felt I knew pretty much what was going on.” He was picked up by the claims organization, where he could see how the company administered and managed risk. “At the end of my claims rotation, I felt I could have been a better underwriter because I had gotten another slice of the organization and how things were connected.” He moved into a leadership role after completing the program.
 
As director of sales compensation design and sales planning for Colonial Life, Abdullah’s group supports the sales organization, requiring expertise in working out different situations related to compensation. This includes educating the sales team on available compensation plans and incentives and looking for ways to make the company’s compensation systems more efficient.
 
Balancing short-term goals with the long-term vision of the organization is a continuing challenge. “The market is evolving and changing very quickly,” Abdullah says. “We provide financial protection for America’s workers. There is a lot of technology coming into our space. Trying to keep up with it and meet the day to day demands is a challenge for not only our department, but the organization.”
 
Insurance is evolving and with those changes comes continued flexibility. “What is so neat about this organization is the flexibility and opportunity do a variety of roles or leverage a variety of skills,” he says. “Don’t set your goals based on what others are doing. Evaluate your own data points and make the best decision for you. Success is an individual thing.”
 
Readers can look for careers opportunities at http://www.unum. com/careers and http://coloniallife. com/career-seekers.aspx
 
EMBRACE THE FUTURE AT ASSURANT Change is now a part of the insurance landscape, and it’s Rod Pauldin’s job to ensure his fellow employees understand and adapt to that change. As director of human resources at Assurant, Inc. (New York, NY), he helps employees prepare, shape, and thrive in this changing environment. “I believe the insurance industry continues to have a bright future, which is amazing when you consider it began in the seventeenth century,” he says. “The industry continues to play a vital role in helping people manage different types of risks and provide peace of mind.”
 
Pauldin, who earned a bachelor’s of science degree in computer science from North Carolina Agricultural and Technical State University (Greensboro, NC) in 1993, made the transition to human resources after a number of years as a recruiter in the technology space. Shortly after marrying, he moved with his wife to Atlanta, where he hoped to land a position with a company that provided financial stability and a chance to leverage his existing skills. He was drawn to Assurant because of the company culture, financial stability, and the ability to do project work.
 
Assurant provides specialized insurance products and services. The company operates in 12 countries and has approximately 17,500 employees worldwide. Its four key businesses are Assurant Solutions, Assurant Specialty Property, Assurant Health, and Assurant Employee Benefits.
 
No two days are alike for Pauldin. “You will find me meeting with employees, attending web meetings with my business partners, and working on special projects,” he comments. “Right now, for example, I am working on the development of a new online tool that will be used by managers to requisition new hires.”
 
He enjoys the collaborative nature of his job and being part of a team. “Our collaborative culture is one of the hallmarks of Assurant, which makes it a great place to work,” Pauldin explains. “From senior leadership on down, we pull together as a team to find more ways to be innovative and to succeed.”
 
Pauldin’s computer science back ground is invaluable when partnering with Assurant’s technology, enterprise business services, and facilities teams. He also had the good fortune of having a manager and senior manager who coached him along the way. “It was those strong mentorships and the training provided by Assurant that prepared me for my current role,” he acknowledges.
 
Even though the general assumption is that computer science grads are not the most outgoing, Pauldin notes it was his relationship skills that made the biggest difference in his career. “Being able to build partnerships with people across business divisions and geographies is critical. I need people to trust me and have confidence in me.”
 
One of the biggest challenges Pauldin faces is helping others adapt to changes within the organization as the company realigns its strategic focus. “It is natural for employees to be concerned about the future when a company announces a significant change in its business strategy. Part of my job is helping them focus on the opportunities that lie ahead, help them gain the skills needed to adapt, and embrace change. It is important to remember that the world around us is always changing. Businesses, too, need to evolve to remain relevant and grow. It is how you respond to that evolution that matters; being agile as an employee is important wherever you work.”
 
College grads and career professional entering the insurance industry need to be flexible in the face of change, Pauldin comments. “The landscape is changing and consumers are demanding more. They expect traditional insurance and financial services companies to be just as technologically adept as any other online retailer.”
 
Assurant is evolving to meet those needs by being flexible and open to the future, Pauldin says, noting it is similar to what he has done in his own career. “The best advice I ever received was to be open and try something new. My path in human resources was not my first option for a career, but I believe it was the right choice for me.”
 
Readers can learn more about career opportunities at http://jobs.assurant.com
 
EMPHASIZING RELATIONSHIPS AT AIG Most people don’t envision themselves working at an insurance company, acknowledges Myshell Gresham, vice president of credit, corporate accounts at AIG (New York, NY). “Most think of an old man sitting at the table selling your parents life insurance policies. No one really talks about an insurance company being a financial services company,” she says.
 
At the heart of both AIG’s business and Gresham’s career is the emphasis on relationships. The company has over 90 million customers and approximately 65,000 around the world. Its products and services include life insurance, property and casualty insurance, mortgage insurance, retirement products, as well as other financial services.
 
Relationships are the key, even for those working in finance like Gresham. “You have relationships with internal and external partners. The core of finance is knowing your customers’ backgrounds and what they do. Clients like to feel you know them,” she says.
 
Gresham graduated from Hampton University (Hampton, VA) in 1998 with a bachelor’s of science degree in finance. Her first job was credit associate with Summit Bank; she looked over the company financials, determining credit worthiness and helping the relationship manager structure loan deals. On the job for about a year before Fleet purchased the company, Gresham was able to land a position at AIG in 2000 as credit analyst.
 
“AIG had a credit risk department that functions very much like a bank,” she says. “You work with underwriters to help them structure the collateral for the programs we write for our large commercial companies. Credit risk is credit risk no matter the products you support.”
 
Gresham spent a year as an underwriter before returning to the credit side in a leadership role. Not only did her work expose her to several different industries and clients, but it also fueled her growth as a professional. “Having the experience as an underwriter, holding different leadership roles, knowing how to build relationships, and having a network has prepared me for where I am now,” she says.
 
Another big contributor to her growth as a leader came as a result of her work with industry associations, where she learned to network and connect with people. It is something she enjoys on and off the job. “I’m a southern girl, so I always want to find a way that we connect in a different way. It makes the business conversations much easier,” she says.
 
Gresham also served as co-chair of the Black Professionals at AIG Employee Resource Group for a year. She is currently the group’s business advisor. Gresham is also a member of the National African American Insurance Association and volunteers with StepUp Women’s Network, an association that supports young women in socio-economically disadvantaged high schools.
 
The importance of relationships is something she continually stresses to her team and acknowledges daily in her own career. She makes a point to reach out to at least one network contact each day. “In this industry, contacts matter. It is important for my contacts to know that they are still in my network.”
 
Gresham advises young professionals to give both AIG and the insurance field a serious look. “Don’t discount what insurance companies can offer you,” she asserts. “I think it is a great place to work because you have the opportunity to move around and select different career paths.”
 
Readers can find for more information at http://www.aig.com/careers
 
TEAMWORK REIGNS AT LIBERTY MUTUAL INSURANCE Jason Chou’s eclectic background has helped in his role as principal systems analyst at Liberty Mutual Insurance, where he builds and maintain IT environments, which often comes down to playing many different roles. “That need has certainly tapped into what I learned in school, such as using my business and information systems acumen, along with the attained skills in communications,” he explains.
 
Chou attended Boston College (Chestnut Hill, MA), where he earned his degree in communications. He also completed a dual master’s program from Boston University, earning an MBA and a master’s of science in information systems. He joined Liberty Mutual in 2009 as senior catastrophe analyst.
 
Liberty Mutual Insurance employs more than 50,000 people in approximately 900 offices worldwide. Its range of insurance products and services include automobile to individual life and annuity products. In 2013, the company was listed as the third largest property and casualty US insurer based on direct premiums written by the National Association of Insurance Commissioners.
 
While Chou enjoys different aspects of his job, at the top of his list is the teamwork enlisted to accomplish goals. “The work we do now reaches across departments, even across business units,” he says. “The amount of coordination and teamwork requires a lot more work than anticipated. But when it all clicks and you are able to complete a project, it is a great feeling.”
 
Working with technology does offer its own daily challenges. “Timing is one of the hardest things to get right,” says Chou. “It’s never how long it will take one person to do one task. It is about how long it will take many people to accomplish many tasks. Everyone has a lot of things going on, so fitting your needs in with all these busy people and predicting when you will have it all done can be a monumental task.”
 
Liberty Mutual has a number of team-oriented activities for employees. One of those is the company’s Serve with Liberty program. “I am able to volunteer with other Liberty co-workers and help a local organization out with my time,” Chou says. Another program he is involved with is the Leading and Empowering Asian American People (LEAAP). It is a Liberty-sponsored employee resource group dedicated to providing a team environment that will increase diversity and promote inclusion through events and activities.
 
“Company-sponsored diversity groups expose you to people and projects you normally would not be exposed to otherwise. Not only do you get placed front and center with management, you can also work on projects that help you round out your skills,” Chou says.
 
A solid network is also helpful for a successful career in insurance. “The last three roles I had were directly because of people I knew. I am an extreme introvert and have never enjoyed networking. I am even bad with staying in touch with old acquaintances. But I do try to make an effort to stay in touch with the professional people I have met and respected.”
 
In the book Breaking the Bamboo Ceiling, by Jane Hyun, Chou says there was one piece of advice that resonated for him. It was the notion of following your compass and not your watch. “What that means is that people should stick to their true selves rather than worrying about the timing of being promoted or where they are in relation to people they know,” he says. “This is very hard to put into practice because you always see how other people are doing, what their titles are, and how old they are compared to you. The goal is a mindset to do what makes you the most happy and what you are comfortable with, ignoring all that other noise.”
 
For more on job opportunities, please visit http://www.careers.libertymutualgroup.com
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