The ongoing transformation of the benefits industry and healthcare world continues to have a dramatic impact on the role of thebroker. But while changes in areas like technology, regulation andproducts continue to occur at a breakneck pace, many brokers'career paths still follow familiar patterns. So, what can benefitsprofessionals learn from their peers?

At the 2017 BenefitsPRO Broker Expo, one popular session focusedsolely on the broker lifecycle. Titled “Broker Career Paths in the'New' World,” the panel discussion examined what it means to be abroker in today's environment, and what will be required as theindustry continues to evolve. Brokers at different career stagesshared their thoughts and experiences, while divulging theirsuccesses, areas of growth, and plans to move to the next stage oftheir businesses.

But one conference session isn't enough to encapsulate thebroker way of life. Each day provides new challenges andopportunities, regardless of age or experience. We spoke to a fewbrokers to discuss what they have done to achieve success, and moreimportantly, how they plan to keep it going.

Starting out

One Expo panelist, Taylor Lindsey, partner at Employee BenefitsConsultants, Inc., found his way into the business by way of thosebefore him—his father, grandfather, and great grandfather allworked in the industry. In fact, Lindsey's company is afourth-generation family operation based in Richlands,Virginia.

“One of the first conferences I ever went to, I was getting somegrief over my age,” says Lindsey, who has five years under his beltas a benefits broker. “I immediately spoke up and said all of usare learning the ACA for the first time. I started in the industryabout the same time the ACA began; I don't have years of bad habitsto break.”

Colleen Blum, another young broker, agrees.

“I got into this industry just as it was making its biggestchanges, which was a blessing,” Blum says. “I was not tainted byolder insurance requirements or past ways of doing things. I camein with a fresh mind and was able to absorb all the new informationand regulations.”

Blum is a sales lead at Combs & Company in New York City.Before starting in the industry, Blum worked as a hair stylist.With two years as a customer service representative and three yearsas a broker, Blum describes herself as “self-taught.” She says,Google was her “best friend” in the early stages of her career, asshe read up on industry jargon and policy specifics.

While both Lindsey and Blum say their age has helped them avoidsome bad habits of older brokers, being new to the industry alsomeans they don't necessarily have all the answers yet. But theirfresh approach to the broker world comes with an eagerness to learnand adapt, as well as overcome the potential hurdles their agepresents when trying to build a book of business.

“The greatest challenge in being a younger broker is trust,”Lindsey says. “Many times, I'm sitting with C-suite executives andthey are usually more seasoned employees. I speak to them as a peerand address their issues head on. This has forced me to educatemyself and build out my team.”

For Blum, a young woman in a largely male-dominated industry,the challenge can be two-fold.

“There is often still a stigma for older men who used to be inrooms and conferences filled by other men,” she says. “As a youngergeneration, there is a different way we interact, listen andcommunicate with each other and our clients. Being a female in thisindustry means you really have to stay authentic in who you are.You don't have to walk into the room and pretend to know whatsports team they are talking about. If you are not true to who youare and the things you like, clients and colleagues will see rightthrough you, and it will be difficult to build trust.”

Trust is certainly key for Lindsey and Blum, but so is followingin the footsteps of those who have come before them. For Lindsey,that means hearing what others in the industry have to say.

“Listening is learning,” he says. “Education is the key tosuccess in all industries, not just this one, but it is also thepivotal point in becoming valued by your prospects andclients.”

Blum says starting at the bottom helped her earn respect andconfidence in her work. And she isn't afraid to speak up when shedoesn't know the answer.

“When you don't know something, admit it and ask for help,” shesays. “The amount of knowledge gained by sitting back and listeningis far greater than any textbook can teach you. You need peoplearound you who are comfortable sharing your defeats just as much asyour successes.”

Making a path forward

David Contorno, a former BenefitsPRO Broker of the Year andanother panelist during the Expo session, knows his way around theinsurance industry. After all, he's been working in it since he was14.

With over two decades of experience, you'd think someone likeContorno might overlook the younger generation of brokers. But hedoesn't.

“I think the younger, less experienced consultant has a hugeopportunity to not get bogged down in the status quo, and cancreate plans with the end in mind,” he says. “They obviously need alevel of technical skill, but we as an industry need to startthinking outside the box. We should be sick and tired of theresults we are getting, so we need to try different things and findemployers who are willing to join us.”

Reed Smith, the third panelist and another former recipient ofthe Broker of the Year award, agrees that the industry shouldn't bedivided by young versus old.

“We can definitely all learn from each other,” he says. “To be agreat consultant, you have to be a teacher. However, the bestteachers are also committed to being a student of theindustry.”

Given the confusing nature of today's health care landscape, itcan be tough to find opportunities to be a “teacher” toclients.

“One challenge is getting in front of decision makers,” Contornosays. “This is difficult because it gets pushed down to the HRlevel to explore and report back, but the decisions come from theC-suite. We push against this because we feel the C-suite needs tobe involved all along.”

Smith, senior vice president and practice leader at CoBiz,believes breaking in with higher-ups can be tough.

“I think the biggest challenge when starting is trying to find anetwork of CEOs, CFOs, and HR directors who can become potentialclients and prospects,” he says. “The best way to overcome thischallenge is to commit to who you are and the 'why' behind yourconsulting practice.”

Even with executive facetime and confidence in yourself and yourbusiness, there are still bumps experienced brokers and consultantsmust deal with. Smith says the double-edged sword of growth andsuccess comes with the challenges of juggling time andcapacity.

“You have to be careful with your time to ensure you can focuson personal and business priorities,” he says. “The only way to doit successfully is to surround yourself with incredible teammembers and truly take a team approach.”

Despite the obstacles, both Contorno and Smith keep a close eyeon the bottom line.

“Success is 100 percent measured by the impact I have on theplan costs of my clients,” Contorno says. “I don't mean in terms ofa 'less bad' increase, but actual savings. I really can't see itbeing measured any other way.”

That's not to say Contorno is only focused on the numbers; thereis another standard he holds himself to as a broker.

“The more outside of the box I step, the more successful Ibecome at managing employer health care costs,” he says. “When Ifirst pushed a client away from the traditional route, that was abig moment. But the resulting impact was another important moment.Every step in that direction emboldens me to push harder and fasteras the results keep getting better.”

Thinking outside of the box is something Contorno mentionsoften. As someone who has seen firsthand the ebbs and flows of theindustry, the rising costs of care, and the toll taken on employersand employees, it's easy to see why he wants to find a new way tohelp his clients.

“I think for so long, our business was seen as puttingspreadsheets together, putting out fires, and delivering bad news,”Contorno says. “But there is a huge opportunity to change that. Atleast for me, the business is fun again.”

But this “business” is more than just being a broker.

“Brokering insurance is the easiest thing we do all year,” Smithsays. “Employers need a consultant committed to driving sustainablechange and ensuring their benefit strategy is aligned with theirbusiness strategy.” That means managing this aspect of a client'sbusiness with a measurable ROI in mind, as well as long-termplanning and employee engagement.

For Smith, financial growth year-over-year is an easy way tochart success, but, like Contorno, helping clients isparamount.

“We truly measure our success by the impact we have on thepersonal and financial health of both employees and employers,”Smith says. “We are committed to delivering strategies that investin health rather than waiting for sickness. The greatest wealth ishealth and the greater our personal health, the greater ourfinancial wealth will be. This is true for an employee, a business,and our entire country.”

The industry veteran

For over three decades, Cornelia Philipson, owner of PhilipsonInsurance & Financial Services, has worked in the benefitsworld, but it took some time to get there.

Once a teacher, she married young, had three sons, and decidedto be a stay-at-home parent. She spent the next 17 years as whatshe calls a “professional volunteer” in her community. But after adivorce in the early 1980s, Philipson found herself in need of asteady job. Going back to the classroom wasn't what she wanted, soshe found work as a fundraiser for her alma mater, BrandeisUniversity. After three years of working in the non-profit sector,Philipson needed something with a more flexible schedule. Sheshared this desire with her friend and insurance agent.

“He suggested shadowing him to see if I was interested in takingthe insurance exam and going into the business,” Philipson says. “Ileaned on him to mentor me to the point where I knew I likedinsurance sales, but I still needed more support and education inthe field.”

After looking for a “career shop,” Philipson landed at StateMutual Life Insurance, later called Allmerica.

“I found it odd there were only three other women in ouroffice,” she says. “It was obvious to me this profession had notyet caught on for women, like careers in real estate and thelaw.”

Despite this, Philipson says she doesn't have any “war stories”when it comes to being one of the few women in the industry or inher office. She credits that to the company she chose.

It was during this time Philipson became involved with WomenLife Underwriters Confederation, which later became Women inInsurance and Financial Services (WIFS). Within a couple of months,Philipson was a member of the board.

“I got involved, not only with WIFS, but NALU, which laterbecame NAIFA and NAHU,” she says. “Once I got involved, assumed aboard position, and took on responsibility, it became even moreimperative to stay in the business. I found the personalencouragement, mentoring, retreats and conferences the mostessential.”

Philipson went out on her own after a few years, realizing her“broker mentality” made her keen to shop for the best products andservices, rather than pushing company-only products.

“It's never been about my story,” she says. “I'm more curiousabout others. How can I help them solve a problem? Being aninsurance agent has truly fit the bill.”

Philipson finds her success is increasingly tied to the joy sheexperiences in her career, despite the challenges ahead.

“I have measured my success over the years by my enthusiasm,interest, and love of what I do, along with a good income,” shesays. “I think some of the new challenges will be keeping up withall of the new products, services, technology, and tax law changesas they affect our products and services.”

When she speaks to young women getting their start in theindustry, Philipson is sure to tell them success takes time.

“You'll get knocked down, but get back up,” she says. “If Icould give my younger self a piece of advice, I would say, 'Focus,specialize, and hire an assistant to do the behind-the-scenes work.Be more of a specialist and less of a generalist, and get involvedin your community and professional organizations.'”

As for retirement and her plans after she closes up shop, well,Philipson isn't ready for that conversation quite yet.

“That question spooks me,” she says. “The friends of mine whocontinue to work are the ones who look and act the youngest. Ithink it's the best medicine. I have no lofty goals—I will continueto work and do what's best for my clients.”