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Talent is the lifeblood of the insurance brokerage business. That's easy enough to say, but finding that talent is anything but easy. Finding and cultivating the best and brightest takes time and commitment — on the part of the brokerage and the part of the person hired.
There's no one place that provides the pool of talent the brokerage business needs to survive and thrive.
Some future stars come directly out of college—some, the product of collegiate risk management and insurance programs and others, from a variety of educational disciplines. Still others come from competitors, other parts of the insurance industry or outside businesses.
Regardless of their origin, the most outstanding of the new hires soon prove themselves as future leaders. They bring new ways of looking at ongoing and current issues alike, and in so doing help chart the future of their companies and the industry as a whole.
Truly standout performers among these emerging leaders are being recognized by Business Insurance's 40 Under 40 Broker Awards program, which was launched in 2013.
Business Insurance readers nominated young brokers from four regions of the United States: the Northeast, South, Midwest, and West. The nominations underwent a thorough review by a panel of Business Insurance senior editors. They considered a series of criteria in evaluating the nominations, including recent professional achievements, influence in the marketplace and leadership qualities.
Out of all the nominations, 40 individuals have been selected for recognition, 10 from each region. All had to meet the age requirement of being 40 or younger as of Oct. 1. Each will be recognized during a series of regional receptions.
Just like there's no single source to find outstanding young brokers, there's no single quality that makes them the stars that they are. Like last year's inaugural honorees, the members of this year's group come from a variety of backgrounds and present a variety of personal and professional experiences.
Many have developed a considerable store of specialized knowledge over their careers, making them in-house experts within their organizations. As a practical matter, specialized knowledge translates into best practice customer service, the kind of service aimed at meeting the clients' needs in a way no one else can.
A commitment to continuing education and professional groups also characterizes many of the young brokers recognized this year. That can translate into earning professional designations such as the chartered property and casualty underwriter or becoming involved with local or national industry groups.
Such qualities, combined with a commitment to the highest ethical standards, mark the young broker destined to become an industry leader.
After all, the 40 young brokers recognized in the 40 Under 40 Broker Awards program today will play key roles in defining the nature of the brokerage industry for decades.
Under their leadership, the brokerage segment of the insurance industry should thrive well into future.
Business Insurance established the annual 40 Under 40 Broker Awards program in 2013 to recognize leadership attributes, client-service skills and expertise among retail insurance brokers. The nominations are divided into four regions of the United States, and 10 honorees per region have been selected. While brokerages could nominate multiple candidates under 40 years of age as of Oct. 1, only one nominee per firm is recognized in each region. All 40 of the rising star brokers were selected by a panel of Business Insurance senior editors. Their excellence is being honored at four regional receptions hosted by Business Insurance in October.