Macaii S1 E001: Enhancing Your Networking Skills in an Ever-Evolving Industry with Ajay Mistry

People in Insurance: Changing the Conversation

Welcome to Changing the Conversation: The people in insurance.

The brand new, reimagined evolution of The Insurance Broker’s Podcast, brought to you by Macaii Ltd!

In light of the wide array of changes across insurance we have observed recently, we are shifting the direction of the podcast to speak to those in the industry who are doing things differently, having identified a sticking point which they hope to resist against.

This new iteration of the podcast is all about highlighting the people, the passion and the professionalism that drives our industry.

In today’s episode we are very pleased to be speaking with Ajay Mistry, Co-Founder of iCAN! Ajay is an expert in all things networking, and throughout the episode, he offers his advice for approaching industry events, and his insights for maximising your presence on LinkedIn.

Quote of the Episode

“Networking is all-encompassing… it's all about building relationships, and whether that's through stuff after work, whether that's in meetings, whether that's phone calls you're having with colleagues internally – there's so many different types of networking. One thing that's really fundamental is that things are changing; people are more accessible than they ever have been, because of social media and LinkedIn. There are more networks available than ever to join. So, if you’re ever lonely, there's a really quick way to find people.”

Networking has always been closely associated with insurance. It is an inherently people-facing industry. Now, through LinkedIn and other social media platforms, we have immediate access to the very people we could and should be forming promising connections with, There are more networks than ever to join. This can, in one respect, make the prospect of networking feel even more mountainous and daunting than before. On the other hand, digital networking can provide a less pressurised way to get to know a potential contact before meeting them in person. It grants a platform through which an initial layer of trust and connection can be established before that first meeting where it can more organically flourish.

Key Takeaways

For most of us, the prospect of networking is profoundly uncomfortable. It can often feel shrouded by a certain seediness; since there is a ‘business’ element underpinning each conversation you might have at a networking event; it can make the process feel inauthentic. Ajay suggests that it is always key to establish a personal connection first and foremost, and not to worry about the bottom line. A mutually beneficial connection can only ever emerge from any given conversation if both parties are genuinely interested in one another, and demonstrate this by actively listening to one another. If you find yourself lost about how to start a conversation at an event, for example, remember that everything is in context. Talk about the event, or a speaker you just heard from. This provides a springboard from which you can transition into a casual, personal conversation.

Ajay offers five top tips for networking, all of which can help you to forge more organic and authentic connections:

1. What’s the worst that’s going to happen?
2. The world is full of abundance, not scarcity – there will always be more opportunities to network
3. If you don’t ask, you don’t get
4. Have a plan – come to every event knowing what you want to get out of it
5. You’re the product of your systems, not your intentions – if you want to network, put an event in your diary and go to it

Ajay is also an expert in using LinkedIn to effectively distribute your unique message. It provides an excellent form of passive communication, by distributing your message across the homepages of all your connections and empowering them with the choice of whether to engage with it or not. Consequently, regularly posting effectively does the networking for you, even when you’re not in the room. Using LinkedIn to talk about important topics relevant to the industry will clue your connections in to your status as a well-informed and motivated insurance professional.

During the episode, Ajay highlights employee resource groups as a great means of promoting networking within businesses. These are in-house, employee-led groups focused on a specific strand of diversity, be it ethnic minorities, the LGBTQIA+ community, young industry starters, and many more. You don’t have to belong to these groups to network with them, and they can both add an extra layer to one’s job, and facilitate good business in-house and in collaboration with another companies.

Best Moments/Key Quotes

“People feel there's a seediness or dirtiness that comes with the word ‘networking’, but actually, it's just about building relationships for a benefit to yourself or the other person at some point. If you go in with the mindset of ‘I want to help other people’, or ‘How can I give back?’, all of a sudden it changes from a seedy way of doing things to ‘I'm helping actually’ and therefore, ‘I'll give something give forwards and get something back’.”

“It's hard to quantify, but look at the people who have done very well in this industry. They've done it because of networking. The traditional ‘old boys’ networks, yes, they are antiquated in their viewpoints. However, they started for a reason; there's some good best practice there in terms of people have helped each other and now they’re helping each other later on. That cycle is very important. And the more people that get in that cycle, the more that people can move forward.”

“[With LinkedIn] you're giving people the choice of how they want to receive information, if they don't want to receive it, and they don't want to listen, that's their choice. By putting the power in their hands, it's very empowering for them, because they get to choose. When it comes to direct communication, it’s different. Because then you're forcing someone to make a decision.”

Resources

iCAN – Upcoming Events: https://www.i-can.me/events-2

iCAN - Coffee with the CEO: https://www.i-can.me/coffee-with-the-ceo

About the Guest

Ajay Mistry is the Co-Founder of the Insurance Cultural Awareness Network (iCAN), the Founder of Gambit Partners and a board member of the CII Broking Board.

Ajay Mistry: https://www.linkedin.com/in/1ajaymistry/

About the Host

Sarah Myerscough is the Chief Ideas Officer at Macaii, formerly Boston Tullis. She hosts/co-hosts several podcasts and is known for her knack in connecting with people. Sarah excels in bringing out the best for video, podcast, and live events, helping clients showcase the human side of their business.

Sarah is passionate about the evolving dynamics of the insurance industry and enjoys conversing with innovators, trailblazers, and long-term advocates of change.

Website: www.macaii.co.uk