Declaration of Independents: W. Anderson Baker III

W. Anderson Baker III

President
Gillis, Ellis & Baker Inc.
New Orleans

A house on the Jourdan River in the countryside of Bay St. Louis, Mississippi is where this New Orleans native retreats and rejuvenates. The third-generation owner is a director of Fidelity Bank and a board member of Assurex Global.

MENTOR?

I was lucky enough to work with my father for 25 years. He taught me to be careful, thorough and scrupulous.

MOTIVATOR?

If I can help my clients take the calculated risks necessary to succeed, I have done my job. My favorite journey was a financial startup for which default coverage was a necessity shortly after the financial crisis of the late 2000s. Placing the coverage involved several trips over nearly two years to money centers throughout the world, creating an entirely manuscripted policy.

INDUSTRY FUTURE?

Agents have seen electronic platforms creep into the marketplace, and the real disruption is likely to take place in the next five years. What started in personal lines is moving into the small commercial area, along with certain professional liability lines. As this movement matures, customers will move to the low-cost, low-touch platform. The agent who does not participate will have to demonstrate their value to clients.

BEST PERKS?

As an owner of a privately held firm, I don’t have to provide returns to outside shareholders. Most of my business involves a few large accounts. I specialize in those accounts, not their industries. I work for my clients. I answer to them. My answers are usually pretty good.

As I have handled more complicated accounts during my career, I have provided solutions the clients needed to succeed. I’m not the only one who could have done this, but the client attached the value to me in the process, which was very satisfying professionally. I have chosen the right profession.