AIG’s Allison Cooper shares why she’s recruiting more women to learn and play golf.
If the term birdie means nothing to you, you almost certainly don’t know what a bogey is. It’s also a safe bet that you don’t think about your golf swing – and probably haven’t met a client or trading partner on the golf course. If that’s the case, Allison Cooper, Head of AIG North America Financial Lines, would like to persuade you that learning the game of golf can be good for business – and your professional development.
Allison, who began playing golf regularly in her twenties, understands the advantage of the course as a business setting, especially in insurance, where a round of 18 holes to connect is a mainstay. “I remember when I was growing up in the industry, I was one of the only women in the office who did play, so I was asked to often. That provided me the opportunity to meet and interact with a number of decision makers early on in my career,” she says.
Today, as she leads AIG’s North America Financial Lines business, a flagship franchise in growth mode with $2 billion-plus in premium, Allison has come to see that far from a good walk spoiled, golf provides a meaningful amount of time and camaraderie to communicate with clients and brokers on the issues most important to the relationship. This is a good perspective for all client-facing professionals, but Allison is particularly committed to helping more women in the industry pick up the game and join those conversations.
Much to Discuss
For Allison, a key topic among clients and brokers these days is the state of the Financial Lines market. She has seen elevated draw rates in new entrants, which has increased competition despite sustained loss trends that include record derivative settlements and unabating security class action lawsuits threatening corporate officers and boards. And there’s the constantly evolving threat of cyber and ransomware attacks.
“Financial Lines is one of the most dynamic markets in insurance,” Allison says. “We’re competing against insurers that don’t have our legacy portfolio. But we’re able to differentiate ourselves because of that legacy, as well as provide insights to clients that are meaningful and stand on a long record of claim experience. It’s that interaction – that give and take – to be able to say, ‘This is what we’re seeing in a portfolio of our size and scale; this is how it can help your business be better; and we can ultimately be stronger partners because our interests are better aligned.'”
These may not be the only things Allison will talk about on the golf course, but the business relationship is a priority topic of discussion. “When you play a round of golf, it’s four or five hours – you really get to know someone. You build respect and trust, you get to speak about issues that matter – it’s an important way to build relationships. I rely on the relationships that I’ve built on the golf course all the time. We discuss issues on the course, even the tough ones.”
The Bridge
In 2018, it was a series of other conversations that led Allison to create an organization dedicated to female advancement in Financial Lines. Along with other senior women in the industry, Allison founded The Bridgea not-for-profit networking organization whose mission is to develop and advance women in the business.
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