Several years ago I led a project team that designed and implemented a paperless work flow system for new business and underwriting at a company I once worked for. I saw the future and remote underwriting definitely was going to be a significant contributor to the ability of companies to attract and retain talent. Envision a cadre of experienced underwriters working from their homes in a human network that rewards individual members of the group for finding work not only for themselves but for others within the network as well. Kind of a modern day intellectual collective.
At the upcoming AHOU meeting there will be a networking breakfast session on the topic of remote underwriting. Due to a number of reasons involving comittments you really don’t want to know about, I will not be in Miami for the meeting. But since I’m not going, I’ll toss in my two cents for whatever its worth.
“The discussion will cover all of the unique issues associated with remote underwriting, inlcuding technological concerns, training, scheduling, phone coverage, processes, management, and any other concerns brought to the discussion by attendees.”
Here we go:
- Technology. The technology to enable remote access to company systems has been around for many years and remote underwriting is a reality for many. If you don’t have the technology, you better get it. But more importantly you need to build a solid business case. With the supply and demand equation favoring the underwriter and not the employer, each year that passes without the commitment to the technology puts a company in a more difficult position to attract talent.
- Training. This is a big one. FLMI, FALU, CLU, yada, yada, yada. Companies need to first figure out what the gaps are and what needs ought to be addressed through training. Then create, buy, outsource, something, anything, to address your training needs. How do you train a dispersed band of underwriters without breaking the budget? See point number one. Technology. Try a webinar. Check out http://www.gotomeeting.com.
- Scheduling. This is not an issue limited to remote staff. You will have scheduling issues whether your underwriters are all under the same roof or if you have them all over the globe.
- Phone coverage. See scheduling above.
- Processes. Look for best practices. Find out what has worked and what hasn’t for companies using remotes. This isn’t and never will be a one size fits all answer.
- Management. Communicate clearly and often. How do you make remotes feel part of the team? What are the retention issues? Can mentoring and coaching (not the same as training) get done? Can remote mentoring be done at all?
Well, I think I’ve raised more questions than answers. If someone attends this session let me know how it goes.
underwriting
Lifelong Learning
I was thinking the other day about reading a book a week and the value of lifelong learning. Never make the mistake that learning stops when school stops. Be a lifelong learner. Understand that stuff changes all the time and there is always more to learn on your path to success. Try the following strategy:
Teach yourself what they don’t teach you in school. Sounds simple doesn’t it? Well, it’s not really that simple. Lifelong learning is not simple because school may not teach you a lot of useful information for your chosen line of work. If you’re a recent entry to the world of work, you probably figured that out already. The problem is not just what doesn’t get taught. It’s deciding what to teach yourself to become the best you can be on your chosen path.
There are a lot of people who go through their lives trying to figure out why they’re here and what they’re here to do. I personally know some boomers who are still trying to figure what they want to be when they grow up. Imagine yourself at 60 trying to figure out what you want to be when you grow up! Don’t let this happen to you. Take one simple action. Make a decision.
The decision you make may not be the “right” decision but at least you have made a decision. Indecisiveness will doom even the most well intentioned. Make up your mind. What you settle upon may not be the grand purpose for your existence but at least it’s a start. And if whatever you choose turns out to be not what you expected or wanted, then try something else. As people age we limit ourselves to what is possible. Try something you’ve never done before. Maybe, just maybe, you’ll surprise yourself and begin the journey that is yours alone.
It helps to have an uncommon curiosity about everything to be a good underwriter. Arguably this is true across many different professions. You have to want to learn before you truly learn. I spent some time this past week adding more links to my sidebar. I wanted a kind of underwriting friendly mini-portal. Click through and continue your lifelong learning. If you have any suggestions for a good website, email me or comment and I’ll add a link.
But If You Don’t Mind Tornadoes…
Despite the tornadoes, ice storms, and occasional floods Edmond Oklahoma was listed as one of the best cities in the country to live and do business. I’ve provided a link to the full article under Lifestyle.
When I left my life as a corporate executive I knew if I found another job with similar pay and benefits it would mean moving and starting all over again. There are not a lot of insurance companies in the greater Oklahoma City area. Or I could stay put and figure out a way to make a living.
With the remote underwriting trend my decision was almost a no-brainer. Talent is scarce and the companies that have employed the technology to push their underwriting files out to be evaluated now have the distinct advantage. But the ultimate advantages go to the underwriter.
It’s all about lifestyle.
Discipline
“Nothing of importance is ever achieved without discipline. I feel myself sometimes not wholly in sympathy with some modern educational theorists, because I think that they underestimate the part that discipline plays. But the discipline you have in your life should be one determined by your own desires and your own needs, not put upon you by society or authority.”
Bertrand Russell
I have often said that nothing is achievable without discipline. I got this message from my father repeatedly. I really got the message one day at a clan gathering. It was the summer before I got married and the family got together in Marlboro, MA. We got a couple of rooms at a local hotel and had a great time exploring Boston.
One of the dinner stops was a fine local restaurant in Marlboro. As the family settled in the waiting area, we got drinks and waited for our table. I shared a small table for two with my Dad. He was drinking a vodka martini and I had a glass of red wine. As the conversation progressed, I asked a simple question:
“What is the key to success?”
Dad sort of stared off into space like he did often and suddenly, with a fury that surprised me banged his fist onto the tiny table. I had to grab my wine glass to stop it from falling over. Customers fifteen feet away stopped their conversation to see what was wrong. I was stunned and couldn’t say a word.
“Discipline.”
That’s all he said in response to my question. And he went back to his vodka as if nothing had happened.
As I reflect upon what success is and how success is achieved, it becomes abundantly clear that discipline is paramount.
Your life is to be what you want it to be if you have the discipline to do whatever is necessary to achieve your desired outcome. Be less concerned about what it is you feel you should be doing and more concerned about becoming more of who you are. I am oftentimes asked what my wife and I have done in raising our children, both of whom are doing well in their chosen pursuits. My answer has always been simple. I did whatever I could to help them become more of who they already are. We continue to help them be more of who they already are. Surprisingly simple, eh? Check out the following quote:
“All people are called to be someone and to do things – it is part and parcel of human existence. Discovering and becoming who we are supposed to be, and what we are meant to do in the world is a life-long process of growth and change. This process involves certain commitments and these become revealed to us along the way. Informal educators can play a special part in encouraging these processes. Their role is to work so that people may shape and follow their calling.”
Reproduced from the encyclopedia of informal education [www.infed.org]
So where were we? Ah yes, how to read a book a week…
Too Much Information…Too Little Time
It has always been hard to keep up with current medical advances and everything else you need to know to underwrite mortality risk. For several years I’ve used an online aggregator for all of the RSS feeds I find interesting and useful to create my own little news service. Only recently did I discover I could publish links in the form of a blog to share with others. In the blogroll sidebar I’ve included a link to my other blog under medical and health news for underwriters. This is a quick and efficient method for keeping up with what you should be keeping up with.
A is for Attitude
“Attitudes are more important than facts.”
Karl Menninger
Your attitude is the most important predictor of success in your career and in your life. Think about this: you will never do more than you think you can. Your thoughts ultimately create your reality. Before the PC was invented I was a sociology major in college. Sociologists called this phenomena a self-fulfilling prophecy. The great ancient Greek philosopher Aristotle was one of the first to recognize this phenomenon when he stated:
“We are what we repeatedly do. Excellence, therefore, is not an act, but a habit.”
(he must have been a sociologist)
I like to believe we become what we think we will become through the repetition of actions and behaviors needed to create a desired reality.
The only limits you have are those you place on yourself. To be successful in the creation of anticipated outcomes, you need to have a strong desire for the goal to be achieved, a belief that it is possible, and a willingness to live with whatever happens. Be practical and realistic. Learn to separate the achievable from the unachievable. Focus your energy, thoughts and actions on achievable visions.
Professionals understand the impact and importance of their thoughts and attitudes. They take responsibility for their outcomes because they understand the crucial importance of the internal. Develop a trust that you have some control or influence over your destiny and take responsibility for managing it.
Most successful people have this internal sense of control. They accept their own creative powers. They recognize and take personal responsibility for what happens to them.
Hello World!
There are many things you can do with your time. And on the 18th month anniversary of leaving the executive ranks of Corporate America I decided to start a blog. Flying solo is tough. The demands on your time are phenomenal. So why blog? Well, I like to try new stuff and I like to write. I read in the NY Times that blogging for small businesses wasn’t such a bad idea. So, hello world.
For several years I’ve been reading a book a week. It is a habit I learned that keeps you ahead of the pack. Ask your friends if they read a book a week. I’d be interested in touching base with other bookworms and sharing notes. There is a huge difference between being book smart and possessing the intellectual curiosity that propels people to bigger and better things. My #1 Son possesses that intellectual curiosity and when combined with an intense competitive drive ( I wonder where he gets that from?) certainly provides the appropriate foundation for success in any chosen endeavor.
I was once asked by a life underwriter how do you grow an underwriter? I think I just answered that question, at least in part, with my example above. When you combine intellectual curiosity with the internal drive to succeed the sky is the limit. As a life underwriter, do you have an intense competitive drive? I’ve found that most are content to be intellectual nomads for their entire careers, sometimes intellectual nomads for their entire lives.
Well, from one intellectual nomad to the other, I hope you find value in this blog in both your underwriting career in particular and life in general. My initial plan is to post twice a week. One post will be focused solely on success tips, things that have worked for me and things that have not worked. The second weekly post will be pure life underwriting. It could be a cool website, a great book, or just some random thoughts on the profession.
I’m glad you found my blog. Please come back often.
lifeunderwriter.net 