Calling all interns: Gallagher's internship program may be for you

The summer represents a few weeks of freedom for many students. But for those considering their career path, the summer can be the best time to land an internship.

The insurance industry is constantly looking for the next wave of talent to pass the reins onto once many of its older workers retire. Internships are a great way to find candidates who are either interested in insurance already or want to understand what the industry does.

To kick off its 53rd year, the Gallagher Summer Internship Program (GSIP) will host 440 interns in the U.S. this summer. Nearly 75% of interns will be eligible to receive a full-time offer, and 58% of those candidates are converted to a full-time role, with an 85% acceptance rate.

“These folks end up being incredibly important players in our company,” says J. Patrick Gallagher Jr., chairman, president and CEO of Gallagher.

Related: 6 ways to tackle the insurance industry talent gap

Meet the interns

When it comes to selecting interns, there isn’t any special requirement that the company is looking for. In Gallagher’s eyes, it is really about personality and fit and whether “this is a person that ultimately would go on to doing a good job of handling clients and bringing in new ones.”

Once selected, the interns are brought to the company’s headquarters in Rolling Meadows, Ill., for a week to indoctrinate them in terms of what is Gallagher does and what they do. After that, the interns are placed into teams and the internship begins.

“The team structure will be a mix of a couple of young folks with probably some senior account executive… so they can continue to learn by example,” says Gallagher.

Interns have a number of responsibilities ranging from working hand-to-hand with executives and account executives to participating in sales meetings and production efforts.

For the most part, interns are put into account production and account management, but accommodations are made for those looking to venture off in a different direction. Additionally, every Monday the interns are required to do a bit of public speaking for three minutes on a range of topics throughout the duration of the program.

Related: Tips for identifying and hiring top insurance professionals

Take it from a former intern

Many of the top executives at Gallagher have gotten their start at the internship program, including J. Patrick Gallagher Jr. himself. Another intern to rise through the ranks is Larry Phillips. Just five years out of college, Phillips is now an account executive and assistant vice president of culture and inclusion.

Phillips interned with the company for two consecutive summers — the only internship program he did while in college — and feels that he’s been a part of the Gallagher family for eight years.  

“I think one of the great things about Gallagher is welcoming our interns and making us feel like we’re in the right place at the company,” says Phillips. “When I came here full-time, that learning curve or that level of comfortability was great for me.”

The internship program has come a long way since its inception. In 1972, Patrick was one of four interns. While both the internship program and the insurance industry have come a long way, Patrick emphasized that investing in diversity and inclusion must be the industry’s bedrock if it is to succeed going forward.

“The reason my dad started the internship is you either were born into insurance or you just fell into it. No one chose insurance that wasn’t raised in it,” says Gallagher. “But there is a lot more that can be done and a lot more that needs to be done to be an attractive industry.”

Related: From intern to insurance company CEO: Paula Downey’s rise to the top of CSAA