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4 Steps to Manage Career Morbidity Participant Guide

Transamerica Life Insurance Company 1

The UW Profession at Risk4 Steps to Manage Career Morbidity

2016 Midwestern Underwriting Conference

September 22, 2016

Kyle Steadham, EdD, FLHC, FLMI, SPHR

Manager, Talent Development

Tammy Thies

Sr Underwriting Consultant II, Underwriting

Transamerica Life Insurance Company

Rev. 9-6-16



Objectives

• Understand why professional development is important for underwriters.

• Identify prerequisites for professional development.

• Follow the 4 major steps of the professional development process.

• Recognize left and right brain skills needed in successful underwriters.

• Identify and evaluate professional development activities.

Resource: “A Whole New Mind” by Daniel Pink



Pink’s 3 Drivers of Change

Pink, D. H. (2006). A whole new mind: Why right-brainers will rule the future. New York: Riverhead Books.

Driver of ChangeShould Cause Underwriters to

be…

1. Abundance/Affluence ?2. Technology/Automation ?3. Globalization/Economics ?






be…

1. Abundance/Affluence

2. Technology/Automation ?3. Globalization/Economics ?

Adaptable




be…

1. Abundance/Affluence Adaptable2. Technology/Automation ?3. Globalization/Economics ?






be…

1. Abundance/Affluence Adaptable2. Technology/Automation

3. Globalization/Economics ?

Tenacious




be…

1. Abundance/Affluence Adaptable2. Technology/Automation Tenacious3. Globalization/Economics Goal-Driven






be…

1. Abundance/Affluence Adaptable2. Technology/Automation Tenacious3. Globalization/Economics Goal-Driven

Professional Development

is Vital!

Can UWs do it CHEAPERoverseas?

Can a computer or

decision engine do it FASTER? Is my company

or industry SUSCEPTIBLEto competition?



+/-Expand Current Position

Scope of Professional Development

Current Position

+/-Coaching

Feedback

Training

Performance Improvement

Plans

Future Higher Position

+/-Future

Lateral Position

+/-

Professional Development Plan (PDP)

3 Actions to Prepare for Your Professional Development Journey

Check Your Motive.

Get Support.

Have a Proactive Mindset.

Sweet Spot



1) Check Your Motive.

2) Have a Proactive Mindset.

Common Excuse

Reactive Mindset Increases Career

Morbidity

Proactive Mindset Decreases Career

Morbidity

Boss doesn’t care.I sent my boss an email

about that class, but he/she never got back to me.

I’m in charge of my destiny.

No money I don’t have the resources.I’ll find out how to access free

or low-cost resources.

Too busyI’m working on too many

projects right now.I’ll schedule time with

supervisor or HR.

I’m good right here.I’m satisfied right where I

am.

The organization may have different plans for me in the

future. I need to be prepared.

Not sure howSomebody needs to teach

me.I’ll learn how.

Conners, R., Smith, T. & Hickman, C. (2004). The Oz principle: Getting results through individual and organizational accountability. New York: Portfolio.



3) Have a Champion or Support Network.

• Mentor

• Current Manager

• Senior Co-worker

• Coach

• Teacher

• Family Member

• Fellow Society Members

• Career Counselor

• Spiritual Leader

What’s In It for You?

Commitment

Performance

Satisfaction

Innovation

Networking

Resources

Time

Energy



1

Identify Opportunities

2

Define Activities

3

Initiative Activities

4

Evaluate Results

4 Steps to Manage Career Morbidity

1


2

Define Activities

3

Initiate Activities

4

Evaluate Results

What competency do you want to improve?

What specific and measurable result(s) do you want to achieve?


Refer to Handout



Step 1: Identify Development Opportunities

• Make development significant.

• Establish accountability.

• Identify development needs.

How to Make Development Significant

• Schedule time for planning or discussions.

• Connect development to organizational goals.

• Make development a reward opportunity.

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How to Establish Accountability

1. Assign responsibilities. – Shared

• Design and modify development areas and activities• Evaluate progress

– Champion• Allocate and/or approve company resources• Provide guidance and request updates

– Underwriter• Conduct the research• Allocate or review personal or company resources• Create the plan document• Implement the plan• Share progress with champion• Keep records of goals and progress

2. Document and track goals.3. Link professional development plan to performance

appraisal.

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How to Identify Development Needs

• Complete a self or 360 competency assessment.

• Review past performance appraisals.

• Work with a career coach.

• Consider Daniel Pink’s recommendations in A Whole New Mind.

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Left Brain Reasoning Skills

As defined in typical UW job descriptions…

Function Understand processes, the business, technical knowledge, sales channels

Argument Document and communicate your decisions clearly

Analysis Analyze risks and process workload

Logic Make “rational” decisions

Quantity Underwrite more cases faster

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Pink’s Left Brain Reasoning Skills

Left Brain Reasoning

Skill

Right Brain Conceptual

SkillsAs needed in future UW job descriptions…

Function Design Help create unique processes, policies, products

Argument Story Persuade and negotiate with others; craft underwriting philosophy

Analysis Synthesis Cross functional work and strategic underwriting

Logic EmpathyForging new relationships, emotional intelligence, resolving conflict, teaching others, working with difficult customers/agents.

Quantity QualityFocus on long-term relationships, creative decision-making, value growth and substance vs. volume

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Pink’s Recommended Right Brain Skills for The Future



1


2

Define Activities

3

Initiate Activities

4

Evaluate Results

What actions will you take to make this change?

How will you know if an activity/action item was accomplished?

When would you like to have this change in place?


Refer to Handout

Step 2: Define Activities

1. Create list of activities to work on strengths or limitations.

• Link to development objective

• Include ways to measure

• Establish target dates

2. Champion reviews activities, provides feedback, and helps locate resources.

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Professional Development Risk Analysis

Ste

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efin

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ctiv

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sDebits

Decrease the Quality of ActivitiesCredits

Increase the Quality of Activities

“Easy” successes Failure is possible.

Requires minimal effort or is routine.

Requires strong initiative and variety.

Keeps you in your comfort zone. Involves working with strangers.

Stress-free workCreates moderate personal or

work pressure.

Works with or seeks feedback only from people you like

Involves working with people you don’t like. Gets feedback

from outsiders.

MicromanagingInfluence people or factors over

which you have no direct control.

Lombardo, M. M. & Eichinger, E. (1989). 88 assignments for development in place. Greensboro, NC: Center for Creative Leadership.

Examples of Activities to Promote Right Brain Skills

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Right Brain Skills Example of Activities

Design

• Help design insurance products that make the business better than competitors

• Craft underwriting guidelines• Use innovation and creativity to design and offer

value-added activities beyond daily production

Story

• Shape and sell underwriting philosophy• Coach or mentor other underwriters • Conduct research and persuade stakeholders• Create and conduct persuasive presentations




Examples of Activities to Promote Right Brain Skills (cont.)

Ste

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Right Brain Skills Example of Activities

Synthesis• Work on cross functional or strategic teams• Learn and use project management tools• Pursue a degree in leadership

Empathy

• Train others on effective communication, human relations, customer service skills

• Volunteer in industry association or community• Go out in the field with agents to listen to customers

Quality• Apply Six Sigma and/or LEAN methodologies • Create effective hiring practices and design tools to

improve the quality of hiring underwriters


Drawing a “6” Isn’t So Easy Is it?

• While seated, lift your rightfoot off the floor and make clockwise circles.

• While doing this, draw the number "6" in the air with your right hand.

It takes patience, practice, persistency to develop new skills.



1


2

Define Activities

3

Initiate Activities

4

Evaluate Results

Where are you in the process?

What demonstrations of competency have occurred?


Refer to Handout

Step 3: Initiate Activities

• Organize the activities into your calendar.

• Adjust the plan when necessary.

• Share successes and lessons with champion.

• Attend training classes at your company.



1


2

Define Activities

3

Initiate Activities

4

Evaluate Results

What is the outcome of the development activity?

To what extent was the Step 1 Development Objectiveachieved? If more change is necessary, return to Step 1. Otherwise,

celebrate success.


Refer to Handout

Step 4: Evaluate Results

1. Share feedback about development progress: – How have knowledge, skills, or behaviors changed?– What were your strongest learning experiences? Why?– Where did you experience difficulty? Why?– What would you change about the development process to

make it better?

2. Document the progress.3. Consider modifications.4. Celebrate success.



Who is in your driver’s seat?



References• Browning, H. & Van Velsor, E. (2004). 3 keys to development:

defining and meeting your leadership challenge. Greensboro, NC: CCL.

• Conners, R., Smith, T. & Hickman, C. (2004). The Oz principle: Getting results through individual and organizational accountability. New York: Portfolio.

• Colvin, G. (2015). Humans are overrated: What high achievers know that brilliant machines never will. New York: Portfolio.

• Goodkind, N. (2015, Aug. 11). How to keep your job in a world of automation. Yahoo Finance at http://finance.yahoo.com/news/how-to-keep-your-job-in-a-world-of-automation-122831704.html#

• Lombardo, M. M. & Eichinger, E. (2004). For your improvement : A guide to development and coaching. Minneapolis, MN: Lominger Limited.



References

• Lombardo, M. M. & Eichinger, E. (1989). 88 assignments for development in place. Greensboro, NC: Center for Creative Leadership.

• McCully, W. (2006). Value of professional development. http://www.nsls.info/articles/detail.aspx?articleID=45

• PDI. (2000). Successful manager’s handbook, 6e.• Pink, D. H. (2006). A whole new mind: Why right-

brainers will rule the future. New York: Riverhead Books.


Step 1- Identify Development Opportunities Step 2- Define Activities Step 3- Initiate Activities

Step 4- Evaluate Results

Skill Area / Competency

What skill, competency,

knowledge, or ability would you like to enhance to be

successful in a future position?

Development Objective

What specific and measurable result(s)

do you want to achieve?

What will be the impact if you achieve the results?

Activity / Action Item

What actions will you take

to make this change?

Measurement

How will you know if an activity/ action item was

accomplished?

Target Date

When would you like to have this change in

place?

Performance Status

Where are you

in the process? What demonstrations of competency have

occurred or not occurred? Why?

What are your successes

and challenges so far?

Results

What is the outcome of the development

activity? To what extent was the Step 1 Development

Objective achieved?

If more change is necessary, return to Step 1. Otherwise,

celebrate success!

Dr. Kyle Steadham, FLMI, FLHC, PCC, SPHR, CPLP Manager, Talent Development

972-881-6837 [email protected]

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