Run Time: 31:29
From Zero to $14 Billion
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You'll enjoy spending these 25 minutes with Tony Markel, a rare iconic figure in the insurance industry. Listen as he outlines the fascinating story of Markel, rising from a commercial auto MGA to a powerhouse niche underwriter. While he's out of the business as an active player, he offers advice for others. Don't be lulled into a "generalist position," Tony warns. And once you have a hit product, don't get complacent. "There is a life cycle to every product," he says. "If you sit pat with in one product, you are dooming yourself to mediocrity because demand and competition changes. Make sure your product stays fresh and you are developing new products so that once the life cycle ends you are ready." Tony urges companies to hire new talent "with culture in mind" and reward them with "eye-catching" compensation incentives. Tony is giving back in a big way in his retirement years, building on a corporate and personal legacy of philanthropy.
