His childhood experiences served him well, and today Power sits at the helm of a retail business that is targeting $500 million in revenue this year. His career has gone on to sell a lot of products, and he says his time at the store has had a big impact on him.
After graduating from university, Power established his insurance career working for several insurance companies. It was his time at AIG, however, that he remembers as a career changer.
“Probably the most important, defining moment of my career was 1993, when I walked into an AIG office, applied for a job, and found out I was hired 24 hours later,” says Power. It was a time of growth and expansion for AIG, and he had the opportunity to work with some of the industry’s foremost leaders.
After 26 years at AIG, Power made the difficult decision to step down from his role as president of the Lexington National branch and chief executive officer of the brokerage. This is where he had the opportunity to create, launch, and lead the One80 Intermediaries franchise.
One80 has become a prominent player in the business of marketing and software and – following a series of acquisitions – is now the most successful in the US, according to Power.
In establishing the One80 brand, Power’s vision was to create a unique platform that is focused and focused on customers: A New Approach in Private Insurance. Today One80 is a market leader with five pillars. This includes retail businesses, contract building, specials, software, and joint ventures.
In 2022 and beyond, One80 will continue to build its foundation in key professional areas. “Retailers partner with One80 because of our extensive industry knowledge, market-leading services, and the quality of software and paperwork we represent. This is true in all of our specialty areas, such as marine entertainment, last mile shipping, cannabis, travel/casualty and health. , assurance, is a connected business,” says Power.
The company’s unique growth has been fueled by its fundraising strategy, and One80 has bought 37 businesses since 2020. “We’ve been incredibly smart and incredibly selective with our acquisitions,” says Power.
The goal has been to create “a good reputation and a revenue stream that doesn’t really match up,” rather than jumping on every opportunity that comes along.
This, Power says, means that if there is a market downturn in one line of business, then money will continue to come from other areas.
“We are now expanding our sustainability capabilities and moving forward in integration, versus building infrastructure and business infrastructure,” he says.
“You’ll see in places like this one, we’ve completed three projects [and] We will soon complete the fourth project,” says Mr. Power, referring to NIA’s purchase of the brokerage. “We continue to create and acquire new businesses in our assurance business.
For Power, what sets One80 apart as a rental business is its approach to talent acquisition. “Someone once told me that CEOs should worry about three things: customers, employees, and owners,” says Power. “That was my opinion for a long time, and it was the guiding principle of the organization. But now I believe that employees are at the front of the line.” One80 has put its people – and making them feel important – at the forefront of its strategy.
“If you have employees who value themselves, they see the way of work, they know how to manage [always] they have their backs, they feel safe in the places where they are working, they will do a good job for you – and they will do a good job for our customers, owners, owners, and investors,” he says. .
Insurance remains a family affair for Power, who has two daughters who work in the industry. The advice he can give to emerging leaders is the same as he has given to them. “You need to find business leaders who inspire you, who can help guide you and who you can learn from,” says Power.
Mentoring and mentoring can be a creative or relaxing way to achieve higher career goals, according to Powers, who doesn’t believe in the idea of a self-made person. He said: “Recently I heard someone speaking, and he said that he is a selfish person. “No man makes himself,” he continues. “It takes a village for a person to be able to do everything he can. Mentoring and mentoring are essential to a successful career. “