Keep on learning or get left behind, next generation told
The future is bright for tomorrow’s risk leaders, fastTrack members heard at the inaugural fastTrack Forum last month. But they were also urged to educate themselves continuously in order to succeed and keep up with international competition.
“You never stop learning,” Julia Graham, president of the Federation of European Risk Management Associations (FERMA) advised her audience in the closing keynote speech. Graham said she believes it’s a riskier world today than when she started her career and so education, training and reading are even more important.
“The knowledge and skills that I needed were far more conventional or tangible than some of the knowledge and skills that you need to have today. It is more complicated moves faster and so you must keep up-to-date.”
Young people have at their fingertips a vast array of information – far more so than 20 or 30 years ago – and they should make the most of it, Graham said, as she urged fastTrackers to read and research around risk and their own sectors. And engage with your business, she added: “Take an interest in strategy. Find out what the strategic objectives are and who you can talk to about it.”
“Take an interest in strategy” – Julia Graham
Her comments were echoed by Mike Hammond, chairman of Lockton international, who said today’s young people “can’t stop education at 25 anymore”. Speaking on the panel debate he said it was an exciting time to be in an industry which is attracting a much wider range of professionals, but warned the competition was now stiffer, especially from overseas. “This is good but it’s a challenge too. So you need to get out and get your qualifications now. Otherwise you will get left behind.”
The fastTrack Forum, Developing tomorrow’s risk leaders, attracted over 100 delegates to debate and learn about the future of the risk and insurance profession and to attend workshops on business skills and emerging risks. Other guest speakers included David Ross, then CEO of Arthur J Gallagher (before he joined Towergate) and Ailsa King, head of sales for Willis GB.
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David Ross: It’s a people business “Technology can’t predict what is happening next. That’s why the people in this room are in an extraordinary business,” David Ross told his audience in his opening keynote speech in which he drew on his own career to give advice to Airmic’s fastTrack members. “Technology is an enabler. But this is a people business and that’s not going away,” he added. At a time when London’s competitiveness has been called into question, he said: “London has never been in a stronger position…This is the centre of insurance and that won’t change. The cost of lifting talent and knowledge is so high it can’t be done.” Ross’s own career has moved with remarkable pace. He joined Gallagher as a trainee in 1990 and just seven years later led its North American division, joining the board two years later. He became CEO in 2005. Of his own career, he said that leadership, especially at a young age, can be very hard. Having enough self-doubt to keep him motivated – but not so much it became a hindrance – was important. His advice for Airmic’s newest members was threefold: learn as much as you can and then teach it, work for someone you trust, and work hard. And he added: “The direction this industry is going in in 20 years’ time – you’re deciding.” |
It was the first Airmic event of its kind and was well-received by delegates. One member said afterwards, “It’s my first fastTrack event, and I was really impressed. I learnt a huge amount and will definitely be coming to future events.”
“You can’t stop education at 25 anymore” – Mike Hammond
Pam Joshi, who officially became the new chair of fastTrack at the Forum, said she was thrilled with the day: “There was a great buzz and lots of interaction amongst members and partners particularly during workshops and the panel discussion. The level of knowledge in the auditorium was phenomenal – our members understand risk, and are a perfect fit for the industry. I am delighted that senior industry figures also attended. The whole day was extremely productive.”
In her speech, King said that most companies in the risk and insurance communities are making a greater effort to develop new talent but that they need to do more to bring in young people and increase diversity. It is not just about just about investing in the future but about creating a richer dialogue, she said: “We know that insurance buyers look for more and more innovation and challenge from their advisors. In my view, the skills of adaptability in this new world are ones naturally abundant in the younger generation.”
She added: “The future is bright for this industry. I would encourage all fastTrackers to continue to connect with others, develop skills for the future and challenge both yourselves and those businesses you devote your working life to.”
Julia Graham
David Ross
fastTrack forum