“What are your thoughts about the industry and the consulting world? With the challenge of Health Care Reform, how do you foresee the industry changing ten years from now? Based on what you’ve observed in the HR consulting realm, do you see yourself in analytical, sales, or consulting path?”

The questions posed this week could be a hardy entry. A five-year outlook on Health Care Reform could fill an entire book – as I’m sure it will – let alone a 10-year forecast. As such, I’ll respond with a few overall thoughts about the industry and where I think my path might lead.

The insurance industry is a hidden gem. Although I – banking was seen as the “sexy” career – path, the recent financial crisis has marred that perspective. My friends’ eyes glaze over when I mention the word insurance initially, but after I’ve elaborated about the projects, people, and more, they see that Gallagher is more than just insurance. Gallagher presents me with challenges daily. I’m constantly learning, the people are truly tremendous, and I enjoy coming to work every day. Health Care Reform will result in changing client strategies and a greater need for compliance guidance. The industry is a consistently evolving world, and hopefully I’ll be able to follow a cross between the analytical and consulting path.

Nicole from Los Angeles

We were challenged to discuss the consulting world, the challenges, and the opportunities. As such, I’ll start with a basic definition of what a consultant is:

Consultant: one who consults another

The next logical step is to question what it means to consult. I find the etymology of a word fascinating, and I’ll share Merriam-Webster Dictionary etymology and definition:
• Etymology: “Middle French or Latin; Middle French consulter, from Latin consultare… Date: 1527”
• Definition: 1 : to have regard to / 2 a : to ask the advice or opinion / 2 b: to deliberate together / 3 : to serve as a consultant

Consulting, by definition, implies an active role whether it is rendering advice, deliberating, or serving a client. GBS Los Angeles epitomizes the active level that the consultant role necessitates and in doing so, they demonstrate the challenges that consultants face. Consultants must foster and maintain relationships, manage expectations through effective communication, complete work, and consistently adapt to changing external factors – regulation, changing markets, and more. There are a lot of moving parts, and consultants balance the multitude of challenges both present and forthcoming.

The myriad of challenges presents eager learners with the opportunity to grow and to learn.

Nicole from Los Angeles

Pat Gallagher announced on Monday that we’d have a special guest speaker later in the week: the head of Risk Management for BP – David Anderson. Pat Gallagher’s and David Anderson’s presentations share the top spot on my highlight list. David Anderson fielded questions about the Spill and about different business strategies that BP implements on the insurance side. Pat, on the other hand, welcomed the hoards of interns eagerly trying to shake his hand, and he answered questions about Gallagher as a whole. I asked him about Healthcare Reform and how it would affect Gallagher’s future…drum roll please…
You’ll have to comment on the blog to find out. That would be my takeaway for the week.

Sidenote: the title references Journey in honor of Thursday night singing karaoke.

- Nicole from Los Angeles

Although the prompt of the week has gotten Belle & Sebastian’s glorious song “Expectations” stuck in my head, none of the lyrics are germane to the prompt. The goals and expectations for my Gallagher summer include a myriad of professional aspirations: improve my networking and communication skills, learn about the industry, and determine if I have a future at Gallagher.
With that in mind, there’s a lot to do, and I’ll get back to it. See everyone in Itasca!
(On a sidenote – in response to my prior blog – my expectations for the NBA finals proved to be wrong, but the results were favorable nonetheless. Lakers won in 7, and LA celebrated. There are specks of purple and yellow attire throughout the LA office on this beautiful, sunny Friday.)

Nicole in Los Angeles

My name is Nicole, and I’m a recent graduate of Occidental College with a BA in Economics.  I have a minor in Religious Studies.  FYI: Occidental College is a small, private liberal arts college nestled in the rolling hills of Eagle Rock, snugly fit between Glendale and Pasadena.

My hometown is Boise, ID, but I’ve lived in Los Angeles for the past four years.  Prior to my acceptance to the GBS program, I worked an internship as an analyst at a commercial real estate firm in Downtown LA.

To conclude my brief introduction, I’ll add a few of my favorite things pertaining to the topic of LA: 1) my favorite place is in front of Rothko’s White Center at LACMA, 2) Bottega Louie is the best restaurant I’ve been to in LA, and 3) Anze Kopitar and the rest of the LA Kings are an addictive team to watch.  Lastly, and most importantly, I predict the Lakers will win in 6.

Cheers,

Nicole in Los Angeles