A 21st century career Publicly owned broker acquisitions shape the career of young Acordia sales manager By Elaine Tolen Jeff Lang, the 34-year-old senior vice president and sales manager of Acordia Insurance Brokers’ Southern California region, has demonstrated confidence, tenacity, knowledge and relationship skills in his 12 years in the business. He’s also learned to stay flexible because he’s seen the corporate entities that he’s worked for—some of the biggest players in the commercial insurance market—make dramatic changes overnight. Jeff’s father worked for Great American Insurance Company as an area president and then as a producer at an agency in Beverly Hills, California. Whenever Jeff, in the early stages of his career, talked about going to work with his father, the senior Lang always stressed the need to gain experience elsewhere first. And Jeff’s early experience came from a variety of sources. While a student at the University of Southern California, Jeff served as his fraternity’s risk manager. He was responsible for making sure that the fraternity complied with its national and international guidelines as well as with the rules and regulations set forth by the university. Also, while still in college Jeff obtained a paid internship position with Alexander & Alexander (A&A). He rotated through various departments, ending up in the bonds division. After graduation, he returned to A&A’s bond department as an account manager.
In 1997, sensing he needed a change to continue his career advancement, Jeff joined Johnson & Higgins (J&H). “My experience up to that point was in jumbo-sized accounts, like large aviation companies, large auto fleets and huge property portfolios,” he explains. “J&H took accounts from several middle market units—the accounts nobody else wanted—and gave them to me. It was sink or swim.” Roger Kozberg, senior vice president with J&H, became Jeff’s mentor. He helped Jeff tackle these challenging accounts, giving him advice on developing business plans and implementing sound risk management programs. “I had experience in jumbo accounts and on individual policies, but I really didn’t see how all the pieces fit together until I got to J&H,” Jeff says. “J&H also taught me respect for my carriers and service staff. You can’t do it without them.” In 1998, J&H was purchased by what was then called Marsh & McLennan, and the company went from being privately to publicly held. The culture of the company changed overnight, according to Jeff. Even though Jeff was promoted to assistant vice president and earned his CPCU designation (he’d already earned the ARM designation), he felt like his career “wasn’t moving.” Making the leap In 1999 a long-time friend put Jeff in touch with her father, Bob Bryar, who owned Speare & Company, a large regional brokerage in Sherman Oaks, California. Jeff joined Speare as a producer. “My only competition up to that point had been with other alphabet houses,” Jeff explains. “Working at Speare opened my eyes to a whole new world within the insurance industry. I was now competing against other local and regional agencies and brokers whom I’d never heard of. And these people were good! It forced me to hone my skills as a producer. I also started having more fun in the business. I was able to work on my craft, not worrying about getting caught up in corporate politics and minutiae. I struggled with the lack of name recognition, and the limited resources frustrated me a bit. Everyone knew Marsh & McLennan and Johnson & Higgins. Speare was relatively unknown in the corporate world. Of course, that just made me want to go after the big houses and make them sit up and take notice of ‘us little guys.’ Like I said, I was really having fun!”
Jeff started at Speare as a producer, going from making a salary to working on commission. He brought 60% of his accounts from Marsh, “undesirable accounts, for the most part,” he adds. “This taught me how to round out my accounts, manage my accounts receivable, and really work on my relationships with my clients and my referral network. I was also able to see how my success directly benefited the agency and the people employed there.” Jeff also managed to advance his education, earning an MBA from USC, and soon after that he obtained his RPLU designation. He was promoted to sales manager and was in line to become an agency principal. In 2004, Speare was bought by Acordia, the fifth largest brokerage firm in the world and the largest one affiliated with a bank (Wells Fargo) in the United States. “Acordia is a company of entrepreneurs,” Jeff says, “and Bob [Bryar, now agency managing director] is pretty independent in continuing to run the operation in Southern California.” Jeff is now senior vice president and sales manager for Acordia’s Southern California region, which includes four offices and 36 producers and client executives. In the position, his job is twofold: manage and drive sales, and manage the agency’s relationship with Wells Fargo, which owns Acordia. “After I got over the fact that I wouldn’t be an owner and I realized Acordia’s potential—especially in Southern California—my whole focus became making Acordia ‘Number One’ in Los Angeles,” Jeff says. “I have the freedom to run my department and the opportunity to guide the company to success. That’s what any principal would do. I realized that ownership is just as much about attitude as it is having actual stock in the company.” As in any corporate change, the transition from Speare & Company to Acordia created some tension throughout the organization. Jeff was proactive in trying to get everyone to work together. “I took cookies and brownies to each department—sales, accounting, the mailroom, etc.—talking to staff without the department manager, to thank them and recognize their support of the organization and our sales efforts,” Jeff says. “I want them to take pride in their role in the organization. I don’t care if you’re in the corner office or a corner of the mailroom. Every employee plays an important role in this company. “Producers are unique animals,” Jeff continues, “They live on their commissions and get rejected every day. Many times, they’re in their own world and don’t always acknowledge how the service staff contributes to their success. I started what is now referred to as ‘The Lang Factor’ to recognize producers for acts they do for others that build morale and team spirit.
“These acts can’t just be an obligatory lunch, either,” he says. “I want producers to get to know the service staff and employees in other departments, to connect with them and to get them involved in the sales process so they feel like they have some ownership as well. One producer knew how much an employee liked the symphony, so he gave her tickets to the Los Angeles Philharmonic Orchestra. Another producer found out that some employees were going to a concert, and he arranged for a limousine to pick them up. The results of these actions have been contagious,” Jeff reports. “We’ve had a good show of loyalty since the merger, and there is more synergy than we expected. There is stiff competition in the Los Angeles-area market for good staff and strong producers. I’d put our employees up against any other agency in the city.” According to Jeff, Acordia provides a competitive and creative compensation package for new producers, giving them a chance to learn the technical aspects of their jobs and thrive in the industry. This tracks with Jeff’s approach, which is to hire producers with strong sales aptitude, whether or not they have insurance industry experience. Jeff has one sales meeting every month with his producers. “Basically I tell them, ‘If you’re producing, I don’t need to manage you.’ My role is to provide technical training, product knowledge, the latest sales techniques, and to point out areas they could improve upon. “Like a coach, I’m here as a resource. If they have an active and accurate pipeline, not a pipe dream, they’ll do well, as long as they remember to ask for the business,” he says. “I rely heavily on my seasoned producers who continue to produce. Sharing stories about new business successes, as well as ‘the ones that got away,’ really helps me develop a well-rounded sales team.” In 2005, the Southern California region reached 112% of its new business goal. “Considering the fact that we’re owned by a bank, which often sets extremely aggressive growth goals, that’s an impressive number,” Jeff says. “We have various sales contests throughout the year to encourage producers to cross-sell and round out their accounts. Producers love seeing their names in lights. We make sure that happens on a regular basis.” Jeff’s role in managing the relationship between Wells Fargo and Acordia involves training Wells Fargo’s bankers about how insurance works and how to recognize a good Acordia opportunity. “One thing about being an insurance agency is that we have access to unbelievable amounts of information,” he says. “We filter through that information, make it interesting to the bankers and get them interested. The easiest sale to make is to a referral from an excited referral source. I’ve seen how successful the external cross-sell program can be. It’s a win-win for everyone.” Jeff joined the state association, Insurance Brokers & Agents of the West (IBA West), in 2000, and already has served in a variety of positions, including president of the L.A. Chapter and chairman of the Young Brokers & Agents Committee (YBAC). After recently rotating off the YBAC, he began serving on the board of Insurance Skills Center, the official trainers for IBA West. Ever since he received IBA West’s Harlan Miller scholarship in 2000, which pays for one young agent’s expenses to attend the Big “I” National Legislative Conference in Washington, D.C., Jeff says he has been “in love” with politics. “It has become my hobby,” Jeff says. “You talk to legislators about what you need and what you’re trying to accomplish to help local business owners, and you feel like you’re having an effect on the legislative process.” In the last six years, Jeff has traveled to Washington five times to lobby on behalf of local business owners and the insurance industry. During one of these trips, in 2002, Jeff had an appointment with United States Senator Dianne Feinstein (California) to talk about insurance-related issues. “This was at the time that the Terrorism Risk and Insurance Act (TRIA) was first being debated,” Jeff explains. “ ‘Do you sell this stuff?’ she asked. I said, ‘I try to.’ She said to meet her the next day at a certain room,” Jeff remembers. “When I got to the room that next day, there was a sign on the outside that read: ‘Appropriations.’ Before I knew it, I was sitting in front of the Senate Appropria-tions Committee. Senator Feinstein introduced me and said, ‘Tell them your experience in selling insurance.’ You really feel like you’re having an impact on the future of the industry when you get involved.” Since then, Jeff has met with Senator Feinstein and California Senator Barbara Boxer to lobby for insurance-related issues. He has also formed relationships with U.S. Representatives Henry Waxman (Calif.) and Brad Sherman (Calif.) and their staffs. “Compared to other lobbies, the independent insurance industry is one of the smaller ones,” Jeff notes. “But we have one of the most unified voices.” While much of Jeff’s time out of the office is spent on business trips and meetings, he enjoys spending time away from the office with his wife, Shadi, whom he married last August. Not all work-related conversation stops at the front door, however, since Shadi is a senior underwriter for Zenith Insurance Company in Woodland Hills, California. Shaping a career Jeff’s career success at a young age has been marked by challenges that have made him stronger and more determined. “From my first job at A&A I’ve had to deal with attitudes like, ‘Who is this kid?’; ‘He’s too young’; ‘He’s too aggressive.’ I just ignore it and do my job. I know these comments aren’t going to stop for a long time. The only way to combat them is to be successful in my current job.” He advises new producers to meet people and continue to learn. “Go to industry functions, get involved in your local association chapter. Be as solid as you possibly can be in product knowledge, and constantly practice your interpersonal skills. And learn from other experienced producers. One of our oldest producers is still one of our best. He has so much knowledge and wisdom to share with others. It would be a mistake not to learn from him,” Jeff says. “I would suggest to new producers: Don’t gloat, check your ego at the door, keep your head down, keep doing your job, and never believe you know it all because you never will. You’ll just come off as arrogant, and it will really turn people off,” Jeff continues. “Don’t forget your staff, and have respect for carriers and their representatives. Understand that you’re going to lose just as often as you’re going to win, sometimes more. Don’t get discouraged. Just have a plan and stick to it. All the pieces will come together in time. “Finally, when it’s time to go home, leave work at work and be with your family and friends. There’s nothing more important in life.” * |
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