Role: Managing Director
Company: Willis Insurance and Risk Management
Track Record: Working his way up in the family firm has given Richard Willis an in-depth knowledge of the insurance sector.
HOW I BECAME AN INSURANCE BROKER
Give a brief outline of your career to date.
My career to date is simple. I started at Willis Insurance and Risk Management (Willis IRM) in 2002 and have been here ever since.
My father started the company almost 40 years ago so it is very much a family business making it a natural move for me to join the firm.
I initially started working as receptionist cover, then various roles studying to attain my Chartered Insurance broker status before I took on my current role as Managing Director in 2013.
The position, as you can imagine, is quite varied especially now as we have expanded from the traditional insurance broker to a full risk management provider including Wealth Management division and an Accident Investigation team. Adding an Employment Services team, as well as setting up an office in Reading last year, both marked major milestones for the firm.
The introduction of Employment Services, which covers human resources, health and safety and employment law advice means we now offer a fuller service to our clients, which represent all sectors in Northern Ireland.
What was your favourite subject at school?
My favourite subject at school was Business Studies which I took at A-Level.
Did you go on to further/higher education, if so what did you study and where?
I studied Business and French at University in Edinburgh and have also gained an Associateship of the Chartered Insurance Institute Insurance Qualification and I’m a Chartered Insurance Broker.
How did you get into your area of work?
The family connection makes it obvious. Along with my brothers, we aim to maintain the organic growth of the firm started by our father, as we diversify beyond our core insurance offering. But there was much more to it than that. I had wanted to be a business trouble-shooter and I thought there could be no better place to apply that than at our own family firm.
Is this what you always wanted to do?
I wanted to be a business consultant so it’s not too far away. I also always had an interest in law, although it wasn’t something I ever pursued.
Were there any particular essential qualifications or experience needed?
There actually isn’t any degree qualification to enter the insurance industry. However, the sector presents a great opportunity for employment and provides a pathway of career progression for the right candidate.
Are there alternative routes into the job?
We have doubled staff numbers in the past three years to 65 and have further plans to expand in the future so there is no doubt of the opportunities posed in the sector.
We recently partnered with South Eastern Regional College to provide three graduates with an opportunity to gain business experience at Willis IRM with the possibility of a full-time job at the end of the programme.
The Entry to Management graduate programme, funded by the Department for the Economy, allows students to continue their studies while developing business leadership skills in a workplace setting along the way.
What are the main personal skills your job requires?
Patience is among the most important skills in any job, including mine. Also having an ability to look at a situation from all angles, mathematical aptitude to a point and, whilst this may sound simple, common sense goes a long way.
What does a typical day entail?
A typical day starts with the school drop off – something I never thought I’d find so enjoyable. I then usually grab coffee with one of my brothers, then it’s on to working on existing client renewals, operations meetings, new client development and being a focal point for our team to bounce off.
What are the best and most challenging aspects of the job?
As we have experienced rapid growth over recent years, we have had to meet a recruitment challenge and have successfully assembled a strong team with expertise unrivalled in the industry.
Securing a new client which has traditionally had a long-standing relationship with another broker is very rewarding.
It’s also really rewarding to see the real value and benefits our additional services can deliver for an organisation. They turn to us because they see the experience and skills we possess and our record of success at delivering for our clients.
Why is what you do important?
Our insurance business is an intangible product, a promise from insurers to pay our clients when disaster strikes – something most think will never happen to them.
It is crucial therefore to have plans in place to deal with situations when they do arise.
At that point, it’s the most important thing in the world to recover the business which in many cases, can include or put at risk, people’s homes.
There is a lot of pressure on us to get the contract right and that is why we spend time with clients, identifying potential risks faced by them and their company to provide tailored packages that suit their needs.
What advice would you give anyone looking to follow a similar career path?
That’s easy. I’d tell them to come and talk to me. Insurance is a great industry and ours is a great business. It is so diverse you wouldn’t believe it, so I’d tell people to come and find out for themselves.
We take on graduates every year as we continue to grow. Last year’s intake is already on a steady career path with paid training towards industry qualifications and strong pension contributions.
If you weren’t doing this what would you like to do?
I did want to be a professional footballer but had to face reality.
If you could go back, what is the one piece of advice you would give to yourself on your first day?
I would give myself a step by step guide on how to take Willis IRM to where we are today and encourage myself to always aim for more, strive for greater growth and not settle for the status quo.
Describe your ideal day off
I have started taking part in my local Park Run which is a fantastic project that does a lot of good for people who maybe don’t have a lot of time to exercise during the week.
So my ideal day starts with that on a Saturday and then I spend the rest of the day running after my kids, followed by a lazy Sunday.