NAME: Robert Benvenuto
NEW JOB TITLE: Chief sales officer, Hub International Midwest-West region
PREVIOUS POSITION: President, USI Insurance Services Inc.
INDUSTRY OUTLOOK: Continuous change and disruption. When you look at the risk and insurance industry through the eyes of clients, most reading this will agree that there are lots of opportunities to improve how products, services and solutions are delivered to them. This situation is not new, its just amplifying. In todays environment, clients across the spectrum want far more speed, flexibility and simplicity from the industry. In most cases, theyre not getting it. My outlook is the industry movement toward more deep and concentrated specialization will continue for the foreseeable future. The players who move most boldly will gain the competitive advantage.
GOALS FOR NEW POSITION: My ambition is to create market disruption in the Midwest region. My initial goal is focused on the Wisconsin market where we have exciting growth opportunities following our recent strategic acquisitions. Together with Tom Precia and his highly talented team in Wisconsin, we are intensely focused on accelerating growth by executing client-centric strategies across Hub Internationals target industry, product and segment specializations.
CHALLENGES FACING THE INDUSTRY: So many to mention, but Ill call out an industry challenge of value translation. The risk and insurance industry (as a whole) does a poor job translating its value to clients. To address this challenge, Hub developed a business case framework that shows clients how their risk management and insurance programs impact financial performance by focusing a lens on their companys most critical resources, namely their Employees, Physical/Intangible Assets, and Stakeholders. Hubs EPS framework translates value of risk management and insurance programs into financial metrics and business terms that resonate with C-suite executives. The more actions we take as an industry to translate value into meaningful business terms (like Hubs EPS example), the more opportunity we have as an industry to innovate and grow. A rising tide raises all boats.
FIRST EXPERIENCE IN THE INDUSTRY JOB MARKET: My first experience was hitting the streets of Chicago in 1989 at age 22 as a producer with Arthur J. Gallagher. I believed then, as I do now, that the best way to learn is to do. Fortunately for me, I was surrounded by some great people in our industry who helped me turn that thrilling experience into an exciting career with many twists and turns along the way.
ADVICE: Think big, follow your passions and focus on building relationships. Many newcomers to the industry start off in roles that feel mundane. Look past it. Focus first on learning then on earning. Understand how the work you are performing plays into ultimately benefiting a client. When you focus on the endgame (i.e., client value) youll grow fast and be in demand to take on more and more responsibilities. Eventually youll see a path. Sometimes you find it. Sometimes if finds you. Go with it.
OUTSIDE THE INDUSTRY, A DREAM JOB: Return punts in the NFL.
COLLEGE MAJOR: Economics, University of Rhode Island
LOOKING FORWARD TO: The two things I am looking most forward to in my new job are getting immersed in Hubs entrepreneurial culture and building deep, lasting relationships with our colleagues and clients.
FAVOURITE MEAL: Dining outside by the ocean eating lobster.
BOOK: Im a big fan of all of Patrick Lencionis writings, but my favorite book is Steve Farbers The Radical Leap.
HOBBIES: Sports, fitness, music and travel.
TV SHOW: Favorite currently running TV show is a toss-up between Billions and Yellowstone. All-time favorite is Mad Men.
ON A SATURDAY AFTERNOON: Kick back and laugh over drinks with family and friends (when life doesnt get in the way).
