Interviewing tips for the insurance C-suite
As you move up the job ladder, the interview process changes and preparation is key.
If you are a senior-level professional within an organization and planning to interview for a C-suite level position, you should be aware that you will need to handle this interview differently from ones you’ve had in the past.
Undoubtedly, you will be interviewing in front of the company’s board of directors for an opportunity that comes with a higher salary, but also more responsibility. When preparing for an interview of this nature you need to consider these five steps:
- Business Plan: Every successful company has a business plan…and your C-suite position is no different. Treat the position as a business and map out your 3, 6, 9 and 12-month plan upon starting this new role. How will you evaluate the current status of the organization and the team you are working with? What changes do you see that need to be made and how will you implement those changes? What metrics will you enforce to determine if the changes are making a positive effect on the business?
- Questions: Prepare to ask the hiring authority higher level questions than what would typically be asked in a regular interview. Some examples are:
- What are some important milestones by which this organization will evaluate an executive’s performance?
- What do you see as some of the greatest challenges a person in this role could possibly face?
- What leadership style has not worked in the past? How would an ideal executive operate in this position?
- Is there an open line of communication within the organization when it comes to resolving issues?
- What emerging insurance trends are likely to influence the organization over the next 3 -5 years?
- Research: In addition to knowing about the company with which you are interviewing, but you will also need to understand what is transpiring in the insurance industry as a whole. What is the most recent breaking news including recent mergers and acquisitions, or A.M. Best rating downgrades of competitors? What companies are facing bankruptcy and are failing to underwrite safe and secure business to maintain profitability? By being fully prepared and doing your research prior to an interview, you show interviewers that you are aware of the mistakes other competitors have made and will do your best to not make those same mistakes. Every mistake made is a learning opportunity and a competitor’s mistakes can be used to better your future organization.
- Network: Of course, interviewing for a C-suite position most likely means you have been in the industry for quite some time. It’s likely you have built up some connections from various carriers, agencies or brokers you have worked for over the years. Use these connections to your advantage and reach out to the individuals you respect for their opinion and can trust to keep things confidential. See what they know about the company you are interviewing for and what they may have heard in the marketplace, both good and bad. Is there something they know that you are unaware of about the company? Is this position possibly the greatest opportunity you have ever been given…or is the company faced with constant turmoil and you are about to make the worst career decision of your life?
- Role-Play: The most successful interviewers role-play. It’s not because they enjoy doing it, but because role-playing is the closest thing to a real-life scenario. When those objections start flying in from the CFO or CEO on how you plan to turn things around for the company, it’s the best way to be prepared and to think on your feet. If you want to have the confidence necessary to answer these high-level and difficult questions, you need to role-play! So, grab a friend, relative or better yet, watch yourself in the mirror, so you can see your body language.
Ultimately, a C-suite interview will not be your typical interview where you can get by with just building a great rapport with the interviewers and appearing somewhat knowledgeable about the technical component of this job. This is an executive position where the committee you are interviewing before will expect you to bring surefire solutions to the table. You will need to not only be able to build rapport with the interviewers, but also bring real-life examples of problems you have solved and the outcomes after implementing those solutions.
Bryan Jackson is an account manager with Polikov Recruitment Solutions. Contact him at bjackson@prs2000.com.