It’s a family affair at Donnellys Insurance Brokers of Adelaide since Chris joined his father Mike in the business.
Chris Donnelly has big shoes to fill. His father, Mike, is well known in the industry, with accolades includinga Certificate of Commendation from NIBA and the prestigious Lex McKeown trophy to show for the 30-plus years he’s been the Principal of Donnelly Insurance Brokers.
The younger Donnelly initially had ambitions of a career in sports marketing, but when he discovered that most of the jobs in that market were based in Melbourne (“I had no interest in leaving Adelaide,”) he decided to put his Business degree to good use as Donnellys’ Operations Manager and Commercial Lines Consultant.
Having been exposed to the industry from an early age – his father was on the NIBA board for 15 years – made the decision easier.
“The national convention always coincided with my school holidays, so I went along and got to meet key industry people."
He continues to be impressed by the many brokers he meets in their 50s and 60s who tell him how rewarding their broking career has been.
“They say they wouldn’t change a thing and that’s always good to hear,” he says.
The family brokerage is roughly 65% personal lines and 35% commercial, and Chris is the first port of call for incoming commercial enquires. He also assists the renewals team, liaises with business development managers from all of the insurers and is responsible for the IT systems within the brokerage.
Mike Donnelly is a former chairperson of the NIBA IT committee, so he’s at the forefront of the latest industry trends. “He’s always looking for new ways to reduce processing time for staff and reduce operating costs through innovative use of technology,” says Chris, who entered the industry when the Financial Services Reform Act 2001 (FSRA) was introduced. He believes it’s been good for the industry.
“However, the cost of compliance is very significant for all brokerages,” he says, “and there is more back-office activity undertaken to ensure ourthe national convention alWays coincided With my school holidays.operations are compliant.”
In addition to overcoming challengespresented by the FSRA, Donnellys is focusing effort into smarter marketing to combat increasing competition in the personal lines market because companies like Australia Post and Woolworths are now competing for a share of the market.
Mike attends a large marketing conference in the US each year to keep himself and the business as up to date as possible, and between the two ofthem they try and build a good plan for whatever efforts they’re undertaking.
“We’re growing the commercial side of the business and concentratingon marketing, because we’ve got a database of loyal clients we want to continue to service,” says Chris.
When asked about role models, Chris doesn’t hesitate to name his father, who taught him that hard work brings rewards. “He is planning to retire in a few years, so my primary goal is to continue to work very hard and grow the business so that he is financially rewarded for his 35-plus years of business.”
Succession planning is extremely important for the future of any business so this will be a focus over the next two to three years. After eight years, the shine hasn’t worn off the industry. Chris just wishes more young people were aware of how much fun you can have at work.
“There is a perception that insurance people are just sales people, but there are so many career paths within the insurance industry,” he says. “I recently encouraged a young girl who used to work next door to switch from her role in an IT company to a fresh start as a trainee broker at another Adelaide brokerage.”
Chris was an inaugural member of the AIMS Committee in SA and continues to enjoy working with other Adelaide brokers on the committee. “I know my father has found it rewarding to serve on many committees over the years, so I look forward to continuing the family tradition.”
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