What do you must change into a CEO in insurance coverage?

What’s the most sought-after trait within the C-suite proper now? A singular mix of social expertise, adaptability and big-picture considering.

That’s in accordance with Martina Seferovic (pictured), CEO/president of Outsource Insurance coverage Professionals. Talking to Insurance coverage Enterprise, Seferovic mentioned that main with empathy and understanding shouldn’t be solely a ‘good to have’ trait in a pacesetter, it’s a strategic should.

“Historically, in any business and enormous organizations, CEOs needed to have an operational and monetary background, accounting and science data – they wanted to have the ability to do all the pieces on their very own,” she mentioned. “Now, probably the most desired trait is social expertise. A fastidiously crafted and passionately delivered technique with each inside and exterior purchasers in thoughts, is a should in a aggressive setting these days.”

Inner and exterior purchasers

This concept of inside and exterior purchasers is one thing Seferovic is a giant believer in. Pleasing exterior purchasers is clearly a core aim for progress – however that may’t be achieved in case your individuals aren’t comfortable.

“Main with empathy is proven to [engage] each workers and purchasers,” she instructed Insurance coverage Enterprise. “As a result of if I’m speaking the discuss, I must be strolling the stroll. That means every interplay with a shopper of mine goes to be not simply by way of me however by way of all the individuals within the group. I can see that our workers are comfortable, they’re content material and happy as a result of we consider in them – we reward them for his or her efficiency and provides them time, mentorship, and voice.”

This concept of main with empathy shouldn’t be a brand new one, however it’s rising in recognition post-pandemic. In response to O.C. Tanner’s 2024 International Tradition Report, when organizations educate and empower leaders to behave with empathy, the percentages of worker achievement improve by 894%. What’s extra, when recognition is built-in into the tradition, the percentages of engagement improve by 7x and the will to remain by 3x.

For Seferovic, dedication to individuals is manifested in care and dedication to schooling and coaching. With OIP having been in enterprise for 12 years now, Seferovic believes she addresses a problem that’s continued to plague her sector for over a decade.

“What was the driving issue when our firm was based, nonetheless stays – it’s the insurance coverage business’s want for educated and educated expertise,” she instructed IB. “That is one thing that we assist our purchasers with – and that could be a signal of true partnership. I hear from loads of firms that there’s a data hole, a expertise and expertise hole – which there’s. That’s being impacted by loads of exterior uncontrollable components – however I say, let’s give attention to what we are able to management.”

Method to insurance coverage coaching

The method to coaching at OIP and OIP Robotics is each rigorous and complete. Newcomers endure six months of normal insurance coverage coaching, complemented by necessary persevering with schooling classes amounting to 30 hours yearly all through their careers. Seferovic proudly famous the excessive tenure among the many firm’s workers, a testomony to the effectiveness of their funding in coaching and the promotion of workers from inside, in addition to technological development and effectivity each internally and to purchasers.

This tradition of help runs by way of the DNA of OIP – particularly concerning the implementation of latest applied sciences, the place Seferovic is captivated with sustaining a human-centric method. Her group, whereas primarily offering back-office underwriting help, dedicates a good portion of its efforts—20 to 30%—in direction of insurance-specific technological options crafted by tech consultants who perceive the nuances of insurance coverage.

“Many of the organizations on the market, until they’re solely two or three years outdated, weren’t constructed to reside within the setting of generative AI – so we have to be taught and adapt undoubtedly,” she mentioned. “I don’t suppose we could be making ‘10 years from as we speak’ methods, however we have to have our eyes and ears open to the tendencies – as a result of it’s fascinating how the insurance coverage business is being progressive.”

The facility of innovation is one thing that Seferovic has seen time and time once more when working on the Forbes Enterprise Council – one thing she sees as an actual privilege.

“Being a member of the discussion board of Forbes Enterprise Council is an honor for me as a result of it’s a platform that connects leaders from completely different industries internationally,” she instructed IB. “However similar to some other accolade, it’s what you make out of it. It could actually simply be a badge that you just add to your resume or you may really develop your community and join with different leaders to be in that steady studying loop – which is what I attempt to do.”

The notion of networking as as we speak’s forex struck a chord with Seferovic, underscoring the significance of the connections and relationships constructed inside skilled circles. There’s been one thing of a shift in how worth is perceived and created within the enterprise world, the place the wealth of 1’s community considerably impacts one’s success.

“As a result of when you’re the neatest particular person within the room, you’re doing one thing flawed,” added Seferovic.