Risk Services of Arkansas - October 2019

Mike Ross on Leading INSURICA

When someone has been running the same company for decades, no one would blame them for deciding they have all the answers. But this isn’t the case with INSURICA’s president and CEO, Mike Ross. “There are still days when I’m not always sure what I’m doing, but that’s a good thing,” Mike says. “I have 20-something years of experience as president of INSURICA, and I’m still ready to learn new things. I believe that if you’re ever in a position where you think you’ve ‘arrived’ and that you have all the answers, then you’re certainly about to fall. You have to be willing to keep learning.” In November, Mike will be celebrating 34 years with INSURICA. Mike didn’t have his sights set on insurance when he finished college with a business major, but a family friend took him under her wing and encouraged Mike to interview with Travelers Insurance. He took her advice and got a job offer from Travelers in 1983. Two years later, Mike joined INSURICA as a commercial insurance producer, and he’s been climbing the ranks ever since. Mike put on the additional hat of business development work in 1995, was promoted to VP of sales in 1996, and was given the opportunity to take the reins as president and CEO in 1998. Since stepping into his position, Mike has navigated INSURICA through periods of tremendous growth. The size of the INSURICA team has increased, and the company has acquired 30–40 other agencies, including our firm here in Little Rock! All the while, Mike remembers why he fell in love with his job in the first place. “The first few years I was in the business, it was just a job,” Mike says. “I didn’t have any kind of passion for it. Over time, I grew to see the impact we are able to make. No one ever wants to use insurance, but when they do, they need somebody who can guide them through the process. I’ve had the privilege many times of helping clients — helping friends — who found themselves in some really bad claims situations. The planning and the work we were able to do together made a difference. I’m able to provide a safety net where there otherwise would not be one.” In addition to his dedication to INSURICA, Mike is also a devoted husband and father. He’s been married for 37 years, and Mike and his wife have two grown sons and five — soon to be six — grandchildren. Mike’s track record speaks for itself. We’re glad to have a man like him at the helm, a man who’s passionate about his work and still willing to learn.

As entrepreneurs scale their businesses, there is a lot to focus on: hiring the right staff, creating the most effective marketing strategies, and setting up efficient operations. With so much to do, it’s easy to lose sight of your initial vision for your company. If you’re stuck in a rut, know that you’re not alone. Plenty of the most successful entrepreneurs have endured the same struggles and, with a little ambition and a lot of creativity, came out on top. Take Henry Ford, for example. Henry Ford made the automobile accessible and appealing for the common citizen. This ignited interest in the market from consumers and manufacturers alike, which led to innovations like air conditioning and other appliances we can’t imagine living without today. There were some key factors that played into his success, and, if you apply them to your own journey, you could gain a new perspective and be inspired to create and Ford realized cars were unreliable and unaffordable to most and set out to change that. After developing the first moving assembly line, Ford lowered the price of cars and made them accessible for people outside the upper class for the first time. As long as you keep the consumer and their needs in mind, you’ll find ways to make their experience better and increase your success. Small Changes, Big Impact Unlike many companies today who sacrifice quality for quantity, Ford found ways to focus on both. He looked at how cars were actually made and found that, if he could build more cars within a certain time frame, he could pay less per car, per worker. Thus, the moving assembly line was born. When looking for ways to innovate in your industry, rethinking even the smallest, simplest details can make a huge difference for your business. You may not be able to reinvent the wheel, but who said you couldn’t reinvent the brake pads? Henry Ford may have changed the automobile industry forever, but you don’t have to go to such lengths to innovate in your own. The next time you find yourself uninspired or stagnant, look to those who made your industry what it is today. You might just find the inspiration you’ve been searching for. Reignite Your Passion Lessons in Innovation From Henry Ford innovate in your industry. Consumer-Focused

2 • www.insurica.com • Specialized Insurance Programs for Specialized Industries.

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