NAME: Tyson Stevenson
NEW JOB TITLE: San Francisco-based managing director, West region sales leader, NFP Corp.
PREVIOUS POSITION: San Francisco-based executive vice president, commercial lines practice leader, USI Insurance Services LLC
INDUSTRY OUTLOOK: I think it will be robust, but with fewer players. Consolidation, in both the broker and insurer sector, will continue to change the face of the industry. Opportunities are all around us, and startups in fintech will fill the gaps and drive changes in how insurance is distributed, purchased and utilized. I think that product and industry specialization will also continue, making deep expertise even more of a differentiator. The days of being an inch deep and mile wide are over.
GOALS FOR NEW POSITION: My goal is to build from NFPs tremendous success, continue our very positive momentum, and make it clear that NFP is a destination for talented professionals who want to be real client advocates empowered by an innovative and collaborative culture that is truly people first.
CHALLENGES FACING THE INDUSTRY: Even before COVID-19, the market has been in turmoil. Natural catastrophes such as wildfires in the West have changed the way underwriters, catastrophe modelers and buyers view risk. Nearly every line of insurance has hardened in the last year with the exception of workers compensation, which is headed there. With the economic pressures amplified by the impact of COVID-19, buyers will face difficult decisions.
FIRST EXPERIENCE IN THE INDUSTRY JOB MARKET: Joining Liberty Mutual shortly after graduation gave me several opportunities that have really shaped my career. In the early 2000s, Liberty Mutual still had a direct business that was then called Business Markets. The training and experience were second to none. Working in a direct sales model enabled me to be in front of clients and prospective clients that I would not otherwise have been able to access. These interactions hearing their challenges and what they valued most proved to be an invaluable experience. I learned how to listen and focus on solving problems, which helped me grow as a professional and ultimately expand into helping large and hyper growth companies solve complex risk issues.
ADVICE: Be patient, but not too patient. When asked to be a mentor or provide insight to a newcomer to the business, I usually ask what they want to do. However, my response is typically the same. Go work for an insurer or large organization in a formal training program. Find a product or industry practice that youre passionate about and make sure you have a great mentor and/or leader that will help you advance your career. Patience is important because it takes time to learn the business, but you also need persistence to find new opportunities and challenges.
OUTSIDE THE INDUSTRY, A DREAM JOB: Fishing guide. There is nothing better than the combination of relaxing in nature and having the occasional thrill of hooking a fish. As my 11-year-old tells me, fishing teaches patience as you have to wait. A lot.
COLLEGE MAJOR: Business
LOOKING FORWARD TO: Working with a team that works hard and plays hard, too. Work life balance, now more than ever, is incredibly important. I am also looking forward to getting back to the office. Nearly all of NFPs 5,600+ employees are working from home and while I like my 10-second commute, I miss the in-person interaction with clients, colleagues and our market partners.
FAVOURITE MEAL: King Henry VIII Cut at House of Prime Rib in San Francisco with a glass of Napa cab.
BOOK: Ive been reading The Good Egg a lot recently.
HOBBIES: Golfing, fishing, skiing, watching college football in between youth soccer games, cooking and sharing wine with family and friends. Also supporting The Guardsmen.
TV SHOW: Silicon Valley on HBO
ON A SATURDAY AFTERNOON: Cheering on one of my three kids at one of their many sporting events.
