Is the Role of the Insurance Professional Evolving?
When Olga Collins (pictured) took over as CEO of the Worldwide Broker Network (WBN), she set out to drive faster and stronger growth. In a recent conversation with Insurance Business, she provided insights into the network’s progress, the challenges facing the market today, and the evolving role of insurance professionals.
Collins highlighted WBN’s three key areas of focus throughout its 35-year history: mergers and acquisitions (M&A), reshaping the conversation around talent, and prioritizing client-centricity. These priorities remain just as relevant in 2025, with WBN having grown from approximately 100 members at the start of her tenure to 150 brokers worldwide.
“Our strategy of having multiple members in major geographies has proven successful,” she said. “M&A presents both opportunities and challenges, but by having multiple brokers in key regions, we’ve created our own business continuity plan. Our global footprint has expanded, and we now have a truly international team with extensive client and broker experience, allowing us to continue delivering value to our members.”
Talent: A Persistent Challenge in the Insurance Industry
Collins emphasized the importance of WBN’s ‘culture of care,’ which has resonated with clients and plays a crucial role in tackling the industry’s ongoing talent challenges.
“This is a conversation we need to have collectively,” she stated. “Retaining professionals is one thing, but making insurance an attractive career choice is equally important. We’re engaging with universities—not just with young professionals already in the industry but also with those from diverse backgrounds.
“There’s a huge opportunity to rebrand insurance as an exciting industry where careers can thrive. It’s not just for finance majors with analytical skills—it’s also for those with backgrounds in communications, law, and engineering. Many of us found our way into insurance unexpectedly, and we need to embrace the challenge of talent attraction.”
AI: A Powerful Tool, If Used Correctly
The growing influence of AI and digitalization is another major topic shaping the industry. According to Collins, AI offers significant potential to enhance efficiency in traditional insurance processes, but the key lies in balancing AI with emotional and cultural intelligence.
“When working with complex global brands, the ability to understand, listen, and deliver creative solutions is essential. At this stage, AI isn’t replacing that human element,” she noted.
“So, the challenge isn’t about AI taking over consultancy roles—it’s about leveraging technology to enhance the market’s capabilities in 2025 and beyond.”
Beyond technology and talent, she pointed out that climate change and natural catastrophes remain pressing concerns for the insurance industry. Additionally, in the U.S., recent developments have brought insurance into the spotlight for controversial reasons.
“There are growing debates about whether insurance is fulfilling its role in supporting society,” she said. “From changes in employee benefits to discussions on whether insurance remains the best risk transfer solution in certain regions, the industry must carefully navigate these conversations.”
Where Can Insurance Professionals Stand Out?
Despite these challenges, Collins remains optimistic about the future, emphasizing that insurance is shifting toward a more strategic, risk management-oriented approach.
“This shift requires more creativity and consultation, moving away from purely transactional relationships. Insurance is no longer just a cost center—it’s an added-value function,” she said.
“If we can collectively champion the true impact of risk management and speak proudly about what insurance can do, we can avoid repeating past mistakes and continue driving the industry forward.”
