"At the end of the day, I think different perspectives are important in any organization," says young agent Cole Schanandore. "Every generation needs to be adaptable and learn to work together as a team."
Cole Schanandore
Agent
Conway, Arkansas
Age: 31
Go-to drink order: Black coffee
No. 1 item on bucket list: Fly fishing in Alaska
Favorite candy: Reese's peanut butter cups
How did you get started in insurance?
I went to the University of Central Arkansas, which is in Conway where I grew up. I took an introductory class in risk management and insurance and really enjoyed it, so I ended up majoring in insurance and risk management. As soon as I graduated, I worked as an underwriter. After a few years, I made the jump to the agency side. As I understood the business more, I found the commercial side to be interesting. I appreciate the freedom of sales, and I like the thought that the harder you work, the more successful you're going to be.
What are some of the biggest challenges the industry is facing?
The industry is facing a hard market. It seems like new rules and underwriting changes are coming out fast. In Arkansas, companies have pulled out of the state and a few have gone into liquidation. Consumers need actual insurance advisers now more than ever before.
Pros and cons of multiple generations in the workplace?
The insurance industry is becoming increasingly technology driven. Millennials and Gen Z have been raised with technology, so some changes are second nature to us, while it might be harder for more established generations to adapt to some of the technology changes. On the other hand, the relationship and personal touch aspect comes easier to Gen X and older. We're still in a relationship business—we're just trying to merge technology with it. At the end of the day, I think different perspectives are important in any organization. Every generation needs to be adaptable and learn to work together as a team.
Best thing about being an independent insurance agent?
The best thing about being an independent insurance agent is the friends I've made along the way. Insurance agents seem to have a personality that means they like to help people, and that includes other agents. We're competitors, but the independent agency community has been very friendly, helpful and supportive. We're all in the same boat. The independent channel, including carriers, does a great job holding each other up through the tougher times.
Goals for the future?
My goal is to take our agency to the next level. Our agency has been open for 100 years. I'm a firm believer that the decisions you make today will impact your tomorrow, and I want to set Ott Insurance up for the next 100 years.
AnneMarie McPherson Spears is IA news editor.
