During the Big “I” Fall Leadership Conference in Chicago on Sept. 10, Travelers CEO Alan Schnitzer addressed the Big “I” board of directors, state association executives and other attendees.

He opened his remarks with a tribute to his predecessor and friend, Jay Fishman, who passed away last month after announcing a year ago he had been diagnosed with ALS. Today, while Fishman’s passing weighs heavily on Schnitzer, he is enthusiastically focused on the future of the company.

During his presentation in Chicago, Schnitzer shared a video illustrating the change of pace in our industry and beyond. The time frame for technological change has been compressed from such seminal accomplishments as the invention of the printing press to recent inventions such as the internet, smartphones and social media. Schnitzer also pointed out that it is not just the rate of innovation that is accelerating, but also the rate of consumer adoption of new technologies. The combination of the rate of change and rate of adoption is unforgiving for those that don’t keep up. He cited Borders Books as an example of a business that failed in just a few decades after failing to respond to the digital revolution in publishing.

“On the other hand, we can’t throw the baby out with the bath water,” Schnitzer said. At least for Travelers, he identified attributes such as talent, culture, relationships, trust, expertise, breadth of product and service capability as fundamentals that Travelers “won’t give up, no matter how much the ground shifts under our feet.” He also said that the new risks presented by change present an important opportunity for agents to demonstrate the value of the independent agent as a distribution channel. It was clear that his message resonated with the agent leadership in the audience, who are dealing with how their agencies can adapt and thrive.

Schnitzer expressed his concern for those affected by the recent historic flooding in Louisiana. In honor of Randy Lanoix and his leadership of the Big “I,” Schnitzer announced that Travelers would contribute $50,000 to the Trusted Choice^® Disaster Relief Fund. Randy Lanoix, Big “I” immediate past chair and president of Lanoix Insurance Agency in Lutcher and Brusly, Louisiana, and Lee Schilling, board director and president of Schilling & Reid Insurance in Amit, Louisiana, thanked him on behalf of all of their fellow Louisianans.

During the Q&A session that followed the presentation, Schnitzer shared his perspective and vision on a number of industry topics, including the impact of self-driving cars and adverse weather. 

Dave Evans is a certified financial planner and an IA contributor.