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Episode 21B - The Power of Gratitude in the Insurance Industry

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The Power of Gratitude

Being in insurance can be a challenge, to say the least.  We have to balance personal lives with our careers, manage through complex relationships, get people to notice us when the field of people who want attention is crowded, and deal with the uncertainties of businesses that combine with each other, go under, or fail to perform like we think that they should.

Having said that, there is quite a lot to be grateful about when we think about the decisions we made to chart our careers, run our businesses, and form relationships with colleagues in the insurance industry.  Being grateful and appreciating what is good about the industry, our careers and our relationships has a number of positive benefits.

Being grateful makes you a happier person.  Research reveals that if you just spend 5 minutes a day writing down what you are grateful for that increases your feeling of long-term happiness.

People that express gratitude are generally more well-liked.  Social capital never hurts, and gratitude tends to make us nicer, more trusting, more social, and more appreciative. As a result, we have more friendships and better business relationships.

Grateful people tend to progress further in their careers.  Gratitude can make you a more effective manager or team member, help you network, increase your decision-making capabilities, increase your productivity, and help you attract others to you. The result is that you move up the ladder quicker and your workplace becomes a more friendly and enjoyable place to be.

An attitude of gratitude promotes health.  Insurance careers can take a toll on your health with lots of travel, eating on the road and long hours.  Research shows that grateful people are generally healthier, so it’s good to get all the help we can.

At Convey, we have thousands of producers and independent agencies that use our portal services to interact with each other and get educated, master agency networks that we have automated, and dozens of carriers and vendors that streamline their marketing and communication through our services.  Knowing what we know about the insurance industry brings to mind some things that all of us should be grateful for.

The insurance industry creates entrepreneurs. I’ve been an entrepreneur for most of my career, owning my own businesses since 1995.  Independent agencies and master agency networks are also business owners and entrepreneurs.  Without needing significant start-up capital, thousands of you left the comfort of your jobs with carriers and vendors to start businesses and create revenue streams that have afforded you very good lifestyles.  Many of you have provided jobs for your families and for a lucky few, you’ve been able to sell your businesses creating generational wealth.

The industry is constantly evolving. We’ve seen many new opportunities to serve your customers with a wide breadth of new products.  We’ve seen businesses needing to protect themselves from cyberattacks, to mitigate large risks and use insurance to keep their business up and running if they get sued or cover a wide range of unique assets.  Evolving industries like insurance grows, creates opportunities for everyone, and ways to keep expanding our businesses.

It’s never boring. When you have rapid and on-going change in businesses or evolving technology that increases business risk and changes in the marketplace, you have to stay on your toes.  You exist in an industry that requires you to be learners, strategists, become nimble, and forward thinking.  

We develop long-lasting business and personal relationships.  People in insurance like to get together at events, at regional meetings on trips and in the field.  Although most of you might change companies, you tend to pop up in another organization but almost always still in insurance.  You’ve developed lasting relationships and friendships and I’m sure you look forward to the next time you can reconnect with people that you like and respect.  I’m sure some of your best friends come from these business relationships that you have nurtured over years.

Takeaways

Many of my friends know that I lost my daughter Laura to overdose 2 years ago after a long struggle with addiction.  Gratitude has been the one thing that has helped me through what could have been an unbearable loss.  I am grateful for the time I had with her, for the lessons  her disease taught me, for having the insight to use my knowledge of technology to create a new company to take on the opioid crisis and for my friends who have reached out, stayed in touch and have been supportive.

For all of you listening to this podcast, being grateful helps you mentally, physically and spiritually.  And we have a lot to be grateful for.  We have a growing, evolving industry that creates ever-evolving opportunities, the ability to make positive and transformative impacts on other people’s companies, and the opportunity to protect our customers.    And last but not least, we have relationships and friendships that will last a lifetime.  We’re grateful at Convey to serve your industry as much as we are sure that you are grateful to be in it.

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