Making strategic moves to insurance success
Making strategic moves to insurance success | Insurance Business America
Insurance News
Making strategic moves to insurance success
It’s not about making a lot of moves, it’s about making the right moves
Insurance News
By
Ryan Smith
In the fast-paced world of insurance, success often comes to those who strategically navigate the industry, constantly seeking opportunities to learn and evolve. Meghan Merris (pictured), a property broker at CRC Group, exemplifies this approach.
“Some people would say I’ve made a lot of moves. I think each move was quite strategic, and I have always been very keen to learn and fill in skill sets that I felt I was lacking in,” she said.
Merris’ journey in the insurance realm has been marked by a deliberate progression from the retail side to understanding the intricacies of facultative and delving into technical underwriting with companies. This diverse experience has proven beneficial for both her team and clients at CRC.
“Having diverse experience behind me has really proven to be beneficial to our team’s long-time clients, growing new clients, and finding innovative solutions as part of CRC,” Merris said.
Camaraderie through collaboration
What sets CRC apart, according to Merris, is the collaborative environment across broker teams. The Women’s Network, fostering strong camaraderie among women professionals, has been a significant support system.
Merris believes that the insurance industry offers vast opportunities for those willing to learn and stay curious. Whether one chooses to be a generalist or specializes in complex property, continuous evolution and a thirst for knowledge are crucial.
“Maintaining curiosity and finding those people that you trust to continue to educate and bring you up is key, whether that requires moves or not,” she said.
Reflecting on the challenges of 2023, Merris characterized it as a “generationally hard market for complex property.” The difficulties in delivering palatable proposals amid reinsurance pullbacks and skyrocketing prices were significant hurdles. Tri County, Florida, posed a particular challenge, and the evolving landscape of natural catastrophes, including wildfires and convective storms, added complexity.
As the industry transitions throughout 2024, Merris notes a sense of stabilization, although relief remains elusive; however, she underscores the ongoing difficulty.
“There are certainly several emerging markets in 2024, and we hope that bringing increased capacity into a large, complex property placement will offer some relief for challenged layers from 2023,” Merris said.
To navigate the challenges of 2024, Merris stressed the importance of staying informed about where the capacity is coming from, optimizing access, and creating efficient programs for clients. Her dedication to growing her client base aligns with CRC’s commitment to supporting its professionals.
Growth through giving back
Beyond assisting property clients, Merris is also excited about giving back and recently served as a speaker series for Loyola University of Chicago, her alma mater. The series focused on risk management and insurance, and Meghan’s presentation centered on complex property as well as the various roles involved in preparing an insurance policy. She is passionate about sharing knowledge with the next generation entering the field, highlighting the diverse paths available in insurance, from technical roles to brokerage.
Merris’ involvement with both the Loyola project and the CRC Women’s Network showcases her multifaceted contributions to the industry.
“Working to bring resources to the women at CRC so that they continue to feel supported is a project that I’ve started collaborating on, and I’m really excited about that,” she said.
Merris exemplifies a strategic and adaptable approach to a dynamic industry. Her journey, marked by continuous learning and collaboration, reflects the essence of success in the ever-evolving landscape of insurance. As the industry grapples with challenges, her insights and initiatives stand as a testament to resilience and innovation within CRC Group.
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