Spencer Looks Back with John Lumelleau, 2011 Gala Honoree
"I think that the work of the Spencer Educational Foundation – educating and supporting the flow of talented young individuals – plays a critical role in our industry. Spencer is both a conduit for and a facilitator of talent and is at the epicenter of expanding the talent pool within the insurance industry. That’s why I was excited to accept the honor at the 2011 Spencer Gala, and viewed the honor as confirmation of our long-standing commitment to developing excellence in those entering the business. Lockton and Spencer have been aligned for many years – both our company and the Foundation see the education experience as core to our industry’s expansion and continuing sophistication.
After retiring in 2017, I’ve continued to stay involved in many facets of the industry. I remain on the board of Lockton, Inc. and other publicly traded and privately held companies, and serve as an advisor to a Private Equity firm. Additionally, I serve as a Trustee of Fordham University, my Alma Mater, and have served as a Director of the CIAB and on the Advisory Board of the Maurice Greenberg School of Risk Management at St John’s.
I am very proud and feel incredibly fortunate to have had the successes I have over the last 40 plus years. Unquestionably, the high-point was leading Lockton through a period of explosive growth and global expansion. During my tenure, we grew from a mid-sized broker to one with a national footprint and reputation for excellence. That was the jumping off point for an acquisition that allowed us to further expand around the world. The talented people that made it all possible were a team that I was truly fortunate to be part of. Watching Lockton continue to add industry leaders to the team and expand the portfolio of competencies around the world is gratifying to watch.
Our industry continues to be a magnet for diverse sources of capital. Capital is drawn to the insurance industry to take advantage of opportunities to refresh and revamp long-standing practices across the spectrum of underwriting, claims and risk management. The role technology plays in every sector drives data development and analysis today that allows for incredible value to underwriters, brokers and our clients.
My advice to this year’s Spencer Scholars: as you enter the business, absorb what you learn and experience at every point along the way. Be curious, commit to your careers and be your own career architects. We are a very broad, sophisticated industry and different paths will present themselves to you. Be open to diversifying because while where you start is important what you build will bring you success and professional satisfaction. Be part of changing our industry for the better."