Q&A: Aon North America CEO Jennifer Bell

Golfing and giving back are two passions of Jennifer Bell, CEO of Aon North America, that were reoccurring themes during a recent conversation with BenefitsPRO’s sister publication, PropertyCasualty360.com.

However, Bell prefers to let her actions, not words, demonstrate her commitment to supporting causes close to her. She has been recognized for this work with numerous awards, including a Woman of Achievement Award from the YWCA Greater Cleveland. Bell pointed to the United Way and Sisters of Charity Foundation of Cleveland as two organizations she believes strongly in.

Though golf and social causes might seem dissimilar, Bell said Aon has brought her passions together.

“I enjoy following the LPGA and PGA, especially since we launched the Aon Risk Reward Challenge, a unique competition across the PGA Tour and LPGA that highlights golf’s best strategic decision makers. It connects my passion for inclusion and diversity and the love of the game,” she said, adding, “Golf was a catalyst in my career and in the community.”

She explained the most exciting part of Aon’s golf challenge is that both the PGA and LPGA winners receive the same $1 million prize. This commitment to equality was a milestone for professional golf, according to Golf Digest.

Although she “flew the coop” early in her life, the lessons learned growing up in Kentucky with seven siblings carried her through a career that has spanned some 30 years. A single piece of advice given to her during those formative years continues to stand out and serve her well.

“I was once told by my parents that to stay calm, positive and resilient in a difficult situation is a true test of one’s character and that has really stuck with me,” Bell said. “I truly believe an individual is defined by how they behave in a difficult situation, and I’ve always tried to put a positive spin on trying times.”

What have been the most significant changes in the insurance industry during the past decade?

Bell: Risk used to be a procurement function within our clients’ firms. We now see risks, the risk manager’s role as well as HR along with ESG being elevated to give them a seat at the table at the C-suite and board level. Other significant changes are new solutions such as cyber and the importance of not only having coverage in place but also the ability to consult with clients around risk before and after cyberthreats or attacks. Ten years ago, you just didn’t hear about it.

How can the industry improve its reputation with the public?

Bell: One of the biggest barriers faced by the industry is the perceived impression of lack of opportunity. Many people assume that a career in insurance means selling policies or being an agent, whereas the industry has so much more to offer. Targeting the youth and strategically educating them about the abundant career choices and lucrative opportunities the industry has to offer is one way to change perception.

Another myth that must be tackled is that our industry is looked upon as a typical corporate 9-5, but our industry is far from that. We have built-in flexibility and opportunity. I have always said we, as an industry, need to figure out how to make our industry cool. Many career paths have found their way to the industry such as attorneys, teachers, finance and business degrees, understanding different industries, etc. While the transactional piece of our business is important, it is only a part of what we do on a daily basis.

What skill sets should the next generation of insurance professionals be developing?

Bell: A top skill needed in the future is having great interpersonal skills, be it dealing with colleagues during a brainstorming session or client interactions. The ability to think big is an important skill as risks that were once the responsibility of risk managers, the HR or IT department, are now falling directly at the board’s door.

Analytical skills are also key to the job, I’d say having a pros and cons mindset and analyzing various outcomes to every situation is a good way to train one’s mind. A good understanding of the insurance sector, alternative risk transfer, alternative capital and staying updated with the current trends while having the ability to change with changing times results in dynamic professionals who are willing to move ahead with the times.

Who have some of your mentors been throughout your career?

Bell: I have had many mentors over the years and at different times of my career. In the beginning, it was different managers that pushed me to experience different areas of expertise. I started in marine and aviation and evolved into global firms. When I joined Aon, Mike LaRocca was highly instrumental in teaching me the ropes of the insurance industry and helped further my career by providing me with constant motivation and guidance. Others, such as Tom Rodell and Kip Kelley, mentored me through leading an office and region. I will forever be grateful for their unconditional support.

How would you describe the insurance industry to someone considering it for a career?

Bell: I would say it’s a place full of endless opportunities. Firstly, there aren’t many barriers to entry whether one has a marketing or mathematics degree — the industry has something to offer to everyone. I truly believe being in the industry has made me a well-rounded and well-informed individual allowing me to be one with events globally and locally, which is why I’d urge young professionals to consider it.

Last, but not the least, there is a sense of giving back to the community and society and helping people. What we do has a large impact on people’s lives.

What are some of the biggest misconceptions about the industry?

Bell: The world of insurance is quite fascinating and exciting contrary to its perception of being lackluster and boring. From underwriting to studying risk and strategizing new product offerings, the industry offers a lot of value to the people in it. There is a lot of hard work and a huge element of truly wanting to help people. At Aon, we follow the policy of client first and do our utmost best to deliver quality products to people, helping them navigate tough circumstances and situations. Insurance today is a global, innovative and inclusive industry that is in sync with today’s times.

This interview was edited for length and clarity.