Govt VP on his path to the highest in insurance coverage

James Rozzi’s preliminary aspiration was to be an funding banker, however what bought him on a profession in insurance coverage was the chance to construct genuine relationships whereas additionally promoting. 

Rozzi (pictured), space government vp at Danger Placement Providers (RPS), described his begin on the Duffy Insurance coverage Company in Massachusetts as hands-on, involving direct interactions with clients and chilly calls.

“I ran round to each auto dealership on the town, advised them to ship each new buyer my means,” Rozzi recalled. His subsequent insurance coverage profession steps led him to AIG’s accelerated underwriter program and subsequently to Cooper Homosexual Danger Providers.

Rozzi’s journey to RPS marked a big shift in his profession. There, he makes a speciality of massive, catastrophic-driven property insurance coverage, specializing in hospitality, habitational danger, and nationwide accounts. The challenges of the previous few years, particularly in the course of the COVID-19 pandemic, examined Rozzi’s adaptability, however not sufficient to make him query the choice to enter insurance coverage.

The insurance coverage market, based on Rozzi, underwent important shifts with years of soppy market cycles adopted by double-digit fee will increase.

His technique? “Work more durable, work smarter, get forward of it,” he mentioned. “Insurance coverage is usually about communication.”

Additional than that, Rozzi emphasised the important nature of managing consumer expectations in insurance coverage.

“No person likes surprises…if the expectations are being met and set upfront, everyone seems to be on the identical web page,” he defined.

Rozzi additionally touched on the challenges available in the market, like surprises in renewals and capability shortages. But, he stays assured in his and his workforce’s capacity to handle these successfully.

“Most folk that work with myself or my workforce stroll away…understanding no stone was left unturned,” Rozzi added.

Discussing the broader market, Rozzi famous the affect of fee will increase and altering funding developments on insurance coverage, significantly within the improvement and actual property sectors. Regardless of these challenges, Rozzi sees alternatives available in the market dynamics.

“Actual property is difficult proper now however when you have some capital standing by, it’s a little bit of a purchaser’s market,” he mentioned, declaring the potential for strategic investments for numerous shoppers. 

And, at RPS, Rozzi began with a two-person workforce in 2010, rising it to twenty members. He takes delight on this progress and significantly within the improvement he gives.

“I get enthusiastic about mentoring…to develop their careers, maximize their potential,” Rozzi added. “If you happen to get all people you recognize shifting in the appropriate route in your workforce, it turns into a little bit of a freight practice. Get folks all engaged on shifting the practice in the appropriate route and good issues will occur. Preserving the practice on the tracks – that’s my job.”