How can insurance brokers differentiate themselves?

Her years spent supporting insurance brokers in lead generation and sales consulting have equipped Barbara Miller (pictured), group head of corporate sales at Clear Insurance, with a keen understanding of what it takes to succeed in a highly competitive marketplace. Insurance is perceived as a transactional industry, she said, so her role is to support people in demonstrating the power of the consultative approach.

“It’s a challenge that has been here forever because differentiation is notoriously difficult in this service sector industry,” she said. “People don’t see a difference between these service-led businesses which, when you cut through it, are selling the same product from the same marketplace to the same pool of businesses in the UK.

“So, how do you differentiate yourself? You do that through your work ethic, your ability to instil confidence in your clients and your ability to demonstrate that you’re the best and safest pair of hands to look after them. And that takes training and cultural change.”

Learning and development – the key to differentiation?

Learning and development are at the core of Clear’s employee-centric proposition, she said, and it’s that emphasis which led to the recent development of its Early Career Professionals (ECP) Network. The idea was first suggested by one of the current members of the network, who pinpointed the value in having a support programme aimed at people looking to develop their insurance careers.

Miller noted that at the heart of getting any such initiative off the ground is having a business that’s willing to listen to new ideas and make the investment necessary to make them happen. For Clear, she said, which is passionate about developing its talent pipeline, it made sense to seize the opportunity at hand to support and nurture its early career professionals.

“I got involved because naturally, some of the feedback we received was that people felt they’re missing the confidence to know how to identify their career opportunities and propel themselves,” she said. “They want to know how to voice their opinion, how to network well and how to do public speaking. They asked me because I do a lot of that around the business and also produce our Clear forums which are internal company-wide forums offering training on products, services and soft skills.”

She was delighted to get involved with the network, Miller said, as it directly links to something she is deeply passionate about – reducing the investment gap in early careers is a clear concern across all sectors, not just insurance. People have got to get involved in bridging that gap, and this network provided a clear opportunity to do just that.

Rolling out a successful network

The next step was the creation of a workshop looking specifically at building confidence in public speaking and networking, which saw Miller undertake a ‘roadshow’, going out to different branches and teams around the business. It was overwhelming to see how well this was received, she said, and to see how people were encouraged to step out of their comfort zones and to really take charge of their own career trajectories.

“The immediate feedback was that they felt inspired,” she said. “And that’s so important to me because going back to my background, I don’t have a degree, I’m not Chartered, and I’m not qualified in sales or marketing. Yet, I’m the group head of corporate sales for the Clear Group. What makes the difference isn’t all about your academic background.

“It’s about the choices you make along the way. Will you take an opportunity, or won’t you? Will you stand up in front of a room of people and say what you think, based on good information – or will you not because you feel unconfident? It’s about making sure that people feel empowered to take opportunities.”

The ECP Network is aimed at those early in their careers within the insurance industry who feel passionate about insurance as a career rather than just a job. It attracts those who are looking to progress and make the most of the opportunities available to them, she said, and those who want to be part of the future of the insurance profession.

The purpose of Clear’s ECP Network

“The purpose and mission of this is to provide a platform for [these individuals] to contribute their ideas,” she said. “Also, it’s a place where they can network with like-minded individuals that are in a similar position in other business areas or branches so they can come together and share their experiences. It also allows them to learn from and seek support from around the group.

“Clear is growing so fast as a group and this gives our people the platform to understand how the business is coming together, why it’s purchasing the businesses it is and how that strategy bolsters our clients’ experience and our service offering.”

The network is not just for client-facing early careers professionals, she said, but instead recognises the incredible variety of roles which are available within an insurance business.

Miller added that this is a particularly timely idea when you consider the amount of M&A activity Clear has completed in recent years. When a small business or book is acquired, she said, often the people who join the group as a result are used to being the only ones on their team doing their respective roles. This can be quite an isolating experience for them, and this initiative offers them the chance to network with others doing similar roles and understanding how they fit into the context of the broader group.

“Our measurement of success is how we retain the talent that we bring in and we nurture that into different roles,” she said. “It’s not just about giving opportunities but also making sure they’re at the top of the game when they take on that opportunity… One thing I learnt from meeting all these people – which represent a not-insignificant 10% of our business – is that it’s about making sure they understand the bigger picture of their role and how it matters.”
It’s that which gives people a sense of purpose around their careers, she said, and seeing that blossom across the ECP Network has been very rewarding.

Where the network goes next

The programme started last November, and while it’s still relatively early days, network member representatives are already meeting regularly to keep coordinated and keep the initiative on theme and on mission.

“There’s a long way to go but we’ve got a good platform,” she said. “Clear has shown that they see how important this is and they’ve made significant investments into the initiative. Identifying the need for a network like this in a group of our size was the first step and that recognition of its purpose encourages people to want to become part of the network. And now it’s our responsibility to make sure that we give people enough opportunities to exercise some of the things they’ve learned and the support they have through the network.”