You may have a vast external network, but is your lack of internal network the thing holding you back? Listen for ways to network internally so you can distinguish yourself.
Our guest today is Jonathan King. Jon is an Account Executive with Wells Fargo Insurance Services. Prior to Wells Fargo, he spent most of his career with Marsh & McLennan, one of the largest insurance companies in the world (and a great place to learn how to network internally).
One reason I wanted to have Jon on the show is because not many people think about commercial insurance as a career in finance, but it has everything to do with finance. Jon and I get into that a little bit while he shares some of the fascinating clients and projects he gets to work on, including a key role in M&A transactions. Guys like Jon can literally be the reason an M&A transaction gets done, because insurance is often used to bridge gaps in terms between buyer and seller – terms which can have a massive financial impact.
The other reason I wanted Jon to come on the show is because, one day, over lunch, he brought up the need to network internally. Until that moment, I hadn’t thought much about it. And if I’m being honest, I have not been as good at this as I should. I’ve spent most of my career with a smaller firm, which makes it a bit more natural, but networking internally is still critical. And it is paramount if you want to do well at a larger company.
In this episode:
- Jon’s path to working in commercial insurance
- Why corporate insurance can be a fascinating career path
- Ways in which a commercial insurance company works with a business to quantify risk
- How a business can create a captive policy to self-insure
- The various ways commercial insurance brokers help facilitate M&A transactions with products like representations and warranty insurance, tax liability coverage, etc.
- Approaching internal networking conversations by just trying to be helpful
- Why, when you network internally, it also makes you better at your job
- The need to learn how to say “I don’t know”
- What it really means to be available to serve your clients
- Why it is so important to ask great questions and listen for your client’s true need
Music by Elijah from NOMADS