Acquisitions for Agency Owners: An Insurance Career Is Good for the Soul: A Q&A

Sitting around the dinner table as a child on our 100-acre rural Amish farm in Indiana I was thinking: “When I grow up, I want to be an insurance M&A guy.” … said no child, ever.

Unfortunately, kids don’t dream about doing insurance when they grow up — especially when your primary transportation is a buggy (we left the farm when I was seven). 

In recognition of Insurance Careers Month, I recently enjoyed a conversation with Mark Prampero, regional director of acquisitions. We spoke about what a career in insurance M&A has to offer:

Mark: When I graduated from college, I had a few different job offers, and my dad gave me great advice. He said, “A rising tide lifts all boats, so pick an industry where there’s growth and stability.” When I thought about my options through that lens, it was clear: That’s insurance.

Vaughn: No one thinks insurance at first! But it provides more opportunities than you think, and just because you don’t have a degree in insurance doesn’t mean you can’t or shouldn’t consider a career in insurance. There are careers in accounting, finance, M&A, IT and communications & marketing all within insurance. Ironically, some of our best insurance professionals don’t have insurance backgrounds at all.

Mark: When you’re considering your next career move, pick a company or industry that needs your expertise. Find somewhere that you can make an impact in the department you’re working in. We need accountants, we need marketers, we need finance people. There’s so much opportunity within the insurance industry for you to find your way once you’re in.

Vaughn: And what other sales jobs have a book of business with annual renewals? If you sell something other than insurance, there’s no annual life cycle. When you buy a car, for example, you’ll likely not be in the market for a new one for another five to seven years. At that point, you may or may not go back to the same salesperson who sold you the last one. Many insurance producers, on the other hand, get paid on both new and renewal commissions. Everyone needs insurance, so if you continue to do a good job for your customers, you’ll be able to continue selling to each and every one of them every year. Insurance naturally follows the middle-market economy. As that improves, insurance revenues improve.

Mark: The financial upsides are great, but insurance is about so much more than just sales. Beyond the attractive earning potential, I’ve found a career in insurance to be service-driven, creative and personally rewarding.

Vaughn: It’s not just a sales role; it’s about being a business consultant to your customers and providing them with innovative solutions that solve their real business problems. Insurance, risk, tech and the economy are becoming more and more complex all the time, and there’s a real opportunity to put your skills to work and do well for yourself, your customers and your company.

If you’re considering a career move and are ready to join a winning team, visit Brown & Brown’s career page to see if one of our open positions is right for you.

Acquisitions for Agency Owners
by Vaughn Stoll, SVP & Director of Acquisitions

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