The insurance brokerage industry hit a record number of acquisitions last year and does not appear to be slowing down.
Last year alone, there were 626 transactions with 51 of these transactions taking place in the first quarter. OneDigital West Region’s Principal and Regional Vice President of Growth Lily Lam spoke at the National Association of Health Underwriters 2019 annual convention addressing this fluctuation in acquisition activity and stressed the importance of understanding what buyers want during the process. She divulged how essential it is to align both the seller and the buyer’s wishes and her insights were picked up by Employee Benefit Adviser and included in the recent article, “Compensation, Culture Are Key Considerations for Brokers Looking to Buy.” As someone who has experience being on both sides of the transaction, she provides an important perspective.
Agency wise, our requirements are pretty spread. For us, our target audience would be top talent. We’re looking for those who have some gas in the tank and want to grow. We provide the infrastructure, the resources and the tools to provide you with growth for your organization.
— Lily Lam, Principal and Regional Vice President of Growth, OneDigital Southern California
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