Rising Star Nicholas Licursi Follows in His Grandfather’s Footsteps and Takes a Considerate Danger Administration Strategy : Danger & Insurance coverage

Come see the Stars! As a part of our ongoing protection of the most effective brokers within the industrial insurance coverage house, Danger & Insurance coverage®with the sponsorship of Philadelphia Insuranceis increasing its protection of the Rising Starsthese brokers who symbolize the subsequent wave of insurance coverage brokering expertise.

Search for these expanded profiles on the Risk & Insurance web site and in your social media feeds now and persevering with into 2023.

Right here’s our dialog with Nicholas Licursi, household workplace observe chief, Danger Methods, and a 2022 Private Client Power Broker finalist.

Danger & Insurance coverage: What led you to pursue a profession in brokerage, after which from there, how did you get into your present concentrate on personal wealth?

Nicholas Licursi: My grandfather had a neighborhood insurance coverage/actual property company once I was rising up. I at all times discovered it attention-grabbing listening to his conversations with each his purchasers and potential purchasers. I used to be lucky sufficient in highschool to intern at his company to get a greater understanding of the enterprise.

After graduating, I began working at a neighborhood Allstate company doing the fundamentals, comparable to chilly calling and coverage servicing.

After a number of years there, I opted to develop my profession and make the most of my service and negotiation abilities geared towards the excessive internet price people who acknowledge the worth of a considerate threat administration method.

I used to be profitable in securing a job at DeWitt Stern (now Danger Methods) as an assistant account government serving to with the day-to-day help of the corporate’s largest purchasers.

R&I: What do you suppose probably the most urgent subject might be for the rest of 2023 and shifting into 2024?

NL: As the general value of dwelling is rising, so are insurance coverage prices. Shoppers have actually begun evaluating their insurance coverage packages and exploring alternate carriers, in addition to mechanisms for lowering prices whereas retaining extra threat, i.e. larger retention ranges and self-insurance.

R&I: How will you assist your purchasers address financial uncertainties such because the current collapse of Silicon Valley Financial institution and Credit score Suisse?

NL: The uncertainty in banking additionally applies to different industries, together with insurance coverage. It is necessary that we offer our purchasers with insurance coverage carriers which are financially secure notably on this risky market.

R&I: What’s your method to defending purchasers from catastrophic climate occasions?

Our process is to correctly defend their property. As building prices enhance, there’s a rise in legal responsibility lawsuits, and but catastrophic occasions proceed.

Amidst the turmoil within the business, their protection and insurance coverage group ought to stay as a relentless.

R&I: Who has been a mentor to you in your profession?

NL: I’ve been lucky sufficient in my profession to have a number of mentors.

Tim Devin, personal shopper providers chief and senior vp for the New York metropolitan space at Danger Methods, has been a serious affect within the development of my profession. He has allowed me the chance to pay attention and be taught, whereas additionally not stopping me from utilizing my concepts to higher the agency, the personal purchasers providers division and to develop a household workplace observe at Danger Methods.

With Tim’s mentoring, I’ve grown from my beginnings in supporting the group to managing purchasers, overseeing a group, in addition to administrating the household workplace observe for our area.

R&I: What recommendation did they offer you that caught with you?

NL: Whereas technical abilities are essential to achieve success, being a curious listener is equally vital. Listening to our purchasers, addressing their issues and demonstrating worth fosters loyalty and drives our success.

R&I: What was your greatest win as a dealer prior to now yr?

NL: Given the robust market circumstances, the power to put protection in excessive CAT zones has been an achievement in itself.

Additionally, inside my firm, working with my colleagues and management to construct out the household workplace platform to higher service the extremely excessive internet price and household places of work (has been an win).

R&I: What recommendation do you’ve for younger folks coming into the business?

NL: I believe there’s a large false impression that our business is boring and the necessity for brokers could also be eradicated as a consequence of expertise.

Whereas expertise is taking part in an enormous half in our enterprise and can proceed to take action shifting ahead, progressive professionals who can use expertise successfully are vastly helpful to purchasers. As my mentor informed me, on this enterprise, pay attention as a lot as attainable as that is one of the simplest ways to be taught and develop in our enterprise. &