NAME: Michael Garrison
NEW JOB TITLE: Red Bank, New Jersey-based head of wholesale, Navigators at The Hartford
PREVIOUS POSITION: Singapore-based president, Allied World
INDUSTRY OUTLOOK: The pandemic, macroeconomic environment and evolving natural catastrophe events have created unprecedented demand for insurance products. The industry is experiencing shifting needs in exposure protection, be it cyber threats or supply chain complexities, for example. The industry is well-positioned to evolve and develop products to meet these changing needs and to continue servicing the traditional product needs of our client and broker stakeholder base.
GOALS FOR NEW POSITION: With over 28 years of experience in our industry across multiple lines and several regions of the world, my high-level goals for this role include acting as a resource to share my knowledge and experience to help our business leaders achieve their strategic and financial plans and working collectively as a team to successfully move our wholesale portfolio forward. Our team has been capably assisting our wholesale partners respond to market challenges for several decades, through various market cycles, and were excited to continue that journey at this critical juncture in our industrys history.
CHALLENGES FACING THE INDUSTRY: While we have a deep and experienced team of people running the business, we are always looking for additional talent. This answer could be used for any industry anywhere in the world now but finding quality talent is more challenging than ever before.
FIRST EXPERIENCE IN THE INDUSTRY JOB MARKET: I was a broker in the mid-90s and was asked to go see a major reinsurer about writing a line on a state-owned oil company in South America. The executive that asked me to go to the market also advised that I not come back without an offered line for the business. I nervously sat with the reinsurer, presented the business and the placement, and answered many questions. Ultimately the reinsurer signed a much larger line than we expected, and my confidence level was boosted immensely. Many of us miss the days when our business was conducted in this manner.
ADVICE: Whatever your passion and interest, there is a place for you to thrive in the insurance industry. Most of us did not intend to enter the insurance world, and very few ever regret our time in this space.
OUTSIDE THE INDUSTRY, A DREAM JOB: Meteorologist. I love weather and have always tracked systems that will produce snow or waves.
COLLEGE MAJOR: B.S. in human resources, consumer economics from the University of Delaware
LOOKING FORWARD TO: I am very much looking forward to working with the great group of people at Navigators and The Hartford, as well as the many external business partners, some of whom I have known for over a decade. The wholesale channel is critical to our growth and strategic objectives within global specialty, and we plan to continue to invest in our team that services them.
FAVOURITE MEAL: Since moving back to the U.S. from Asia in June, I have been seeking out menus with a bone-in pork chop topped with hot cherry peppers.
BOOK: The Boys in the Boat, by Daniel James Brown a great grounding and inspirational read.
HOBBIES: I surf, stand-up paddle, ski and snowboard; and generally try to stay fit.
TV SHOW: Ted Lasso, having lived in London and followed the English Premiership, this show is hysterical. Go, A.F.C. Richmond!
ON A SATURDAY AFTERNOON: In the summer, I sit on the beach in Surf City, New Jersey. In the fall, I love a good college football game. After spending the last 5½ years in Singapore, I am not sure about Saturday afternoons in the winter, but it may include visiting warmer climates.
