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Meeting challenges head-on
The bigger the challenge, the bigger the opportunity for growth. When Mike Hessling took on the role of CEO, North America for Gallagher Bassett (GB) in February 2020, the looming challenge of COVID-19 had already created uncertainty and the potential impact demanded attention. Within one month of his appointment, the World Health Organization declared the novel coronavirus outbreak a global pandemic, and Hessling had to steer the business through one of the most unusual periods in modern history.
A seasoned leader, Hessling took the challenges of the COVID-19 pandemic in stride. He describes the last two years as tremendous for his leadership development and for GB as a business.
“In spite of the many challenges the pandemic has brought on, we've seen tremendous growth opportunities inside of our business,” he says. “As importantly, what I've been able to see as a leader is the extraordinary talent we have and the resilience of our team. I've seen how they've responded to changing claim volumes, the changing environments of our clients, and throughout all of it, our team has done exceptionally well.
“It's been a phenomenal time to step into this role, to better understand our capabilities, services, [and] the skills of our team, and to see how we've responded in spite of unprecedented times across the insurance industry.”
Hessling has been a key member of GB’s global leadership team since 2012. Prior to taking the chief executive role, he held the position of North America chief client officer, during which time the business enjoyed excellent levels of client satisfaction, retention, and growth. As CEO of GB in North America, Hessling now leads over 4,000 team members, inclusive of GB’s North America claim operation. Despite such a strong leadership resume, Hessling has learned a few standout lessons from leading during the pandemic.
“First, it's so important in times of uncertainty to be able to communicate and provide transparency – and that's for our clients, to be able to share what's happening within our business and how we’re responding to the pandemic, but also for our team members, many of whom were working from home for the first time,” he tells Insurance Business. “It was also critically important to meet team members where they were because work and life are intertwined … and being empathetic and understanding how the pandemic affected people on a very personal level was critically important.
“We continue to be very bullish on our opportunities within our core risk-management segment,” he says. “In times of uncertainty, clients look for partners they can rely on to be there through thick and thin to help navigate challenges and proactively manage their cost of risk. Interestingly, we also continue to see opportunity in the carrier space. Many carriers are now looking to partner with organizations like GB to help manage their claims, so that's an area of continued growth and opportunity for our business.
“We're also excited to be able to branch out beyond claims in areas like environmental health and safety consulting, on-site safety training for our clients, and investigative services. The organizations we partner with are really trying to be more holistic in how they manage their cost of risk, and they're looking to GB to be able to help them do that.”
GB’s work as a major global third-party administrator for employers and insurance carriers is heavily dependent on outcomes and securing the best possible solutions for all stakeholders – especially when faced with economic, social, and political uncertainties. Outcomes are ultimately where GB differentiates itself, according to the CEO.
“In workers’ compensation, we focus on areas like return to health, return to work, overall claim duration, the total cost of indemnity and medical, and how we can make sure we're delivering on those outcomes as effectively and efficiently as possible,” explains Hessling. “We work hard to make sure that we benchmark those results on a like-for-like basis
against historical claims, as well as against industry averages, to make sure that we're continuing to get better as an organization.
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“Another area that stood out to the entire GB leadership team was how important it was to anticipate and be proactive. Good examples would be the evolving legislation associated with COVID-19, anticipating how COVID-19 might affect our overall claim inventories, and even thinking through how we might emerge from the pandemic and what our team members might want in a future workplace environment.”
While the US economy has awoken from its temporary COVID-19 slump, businesses are now having to contend with a confluence of events with major macroeconomic impacts, including inflation, the war in Ukraine, the “Great Reshuffle” in the labor market, and ongoing supply-chain disruptions. As a very broad organization providing risk and claim services to all industries, anything that is happening in the overall economy affects GB and its clients, Hessling explains. But like all strong leaders, he’s looking toward opportunities.
Gallagher Bassett is the premier global provider of risk and claims management services, dedicated to exceptional customer service and demonstrably superior outcomes. The purpose of GB's more than 6,000 claims professionals is to help people, teams, and companies face unexpected loss and uncertain futures with confidence by providing expertise, innovation, and quality, wrapped in a unique culture that delivers the best results.
Company Profile
$1.1B
Revenue
714,000
New claims per annum
7,041
Clients
7,265
Employees
Bio
Spotlight
Milestones
Media
Accolades
Company Profile
years in the industry
10
favorite quote
“We support one another. We believe in one another. We acknowledge and respect the ability of one another”
– The Gallagher Way
Career highlight
Named to the Insurance Business Global 100 in 2022
Keynote Speaker at the RISE Awards Gala in 2022
Founder and Chair of the INCLUDE@GB Committee
Mike Hessling
CEO, North America at Gallagher Bassett
Mike Hessling, CEO of North America for Gallagher Bassett, chats to IBA about lessons learned from the pandemic and focusing on superior outcomes
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“It’s been a phenomenal time to step into this role, to better understand our capabilities, services, the skills of our team, and to see how tremendously we've responded in spite of unprecedented time”
Mike Hessling,
Gallagher Bassett
“In times of uncertainty, clients look for partners they can rely on through thick and thin to help navigate challenges and proactively manage their cost of risk”
Mike Hessling,
Gallagher Bassett
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Fundserv is the indispensable connectivity hub for the Canadian investment industry. Headquartered in Toronto, we electronically connect Manufacturers, Distributors, and Intermediaries, enabling them to buy, sell, and transfer investment funds. With more than 100 employees, Fundserv serves hundreds of members—executing up to 63 million yearly network transactions—and provides online access to more than 70,000 investment fund products.
Established in 1993, Fundserv is a private corporation that is owned by the industry we serve. Our 10 shareholders are a cross-section of Manufacturers, Distributors, and Service Providers who represent our members.
We operate using a cost-recovery model, meaning any unused profit may be rebated back to our members. In addition to our network and applications, we lead and facilitate industry committees and working groups that promote automation initiatives and establish the industry’s electronic standards.
By ensuring every trade is processed timely, accurately, and securely, Fundserv has rightfully earned a reputation for service excellence—a hallmark of more than 25 years in the investment industry.
Company Profile
“It’s been a phenomenal time to step into this role, to better understand our capabilities, services, the skills of our team, and to see how tremendously we've responded in spite of unprecedented time”
Mike Hessling,
Gallagher Bassett
“In times of uncertainty, clients look for partners they can rely on through thick and thin to help navigate challenges and proactively manage their cost of risk”
Mike Hessling,
Gallagher Bassett
years in the industry
10
CAREER HIGHLIGHT
Named to the Insurance Business Global 100 in 2022
Keynote Speaker at the RISE Awards Gala in 2022
Founder and Chair of the INCLUDE@GB Committee
FAST FACTS
LUMINOS Risk Management Information System named the most comprehensive among TPAs for 5+ years
Supporting partner for the Law Enforcement Torch Relay for Special Olympics
favorite quote
“We support one another. We believe in one another. We acknowledge and respect the ability of one another” – The Gallagher Way
Karen Adams
President and CEO at Fundserv
Before becoming CEO of Fundserv, Karen Adams held a variety of leadership roles around the world – and she learned that listening and understanding are key to both providing service and developing talent
Read on
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Spotlight
Fundserv is the indispensable connectivity hub for the Canadian investment industry. Headquartered in Toronto, we electronically connect Manufacturers, Distributors, and Intermediaries, enabling them to buy, sell, and transfer investment funds. With more than 100 employees, Fundserv serves hundreds of members—executing up to 63 million yearly network transactions—and provides online access to more than 70,000 investment fund products.
Established in 1993, Fundserv is a private corporation that is owned by the industry we serve. Our 10 shareholders are a cross-section of Manufacturers, Distributors, and Service Providers who represent our members.
We operate using a cost-recovery model, meaning any unused profit may be rebated back to our members. In addition to our network and applications, we lead and facilitate industry committees and working groups that promote automation initiatives and establish the industry’s electronic standards.
By ensuring every trade is processed timely, accurately, and securely, Fundserv has rightfully earned a reputation for service excellence—a hallmark of more than 25 years in the investment industry.
Company Profile
years in the industry
10
Karen Adams
President and CEO at Fundserv
Career highlight
Before becoming CEO of Fundserv, Karen Adams held a variety of leadership roles around the world – and she learned that listening and understanding are key to both providing service and developing talent
Read on
“It’s been a phenomenal time to step into this role, to better understand our capabilities, services, the skills of our team, and to see how tremendously we've responded in spite of unprecedented time”
Mike Hessling,
Gallagher Bassett
“In times of uncertainty, clients look for partners they can rely on through thick and thin to help navigate challenges and proactively manage their cost of risk”
Mike Hessling,
Gallagher Bassett
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LUMINOS Risk Management Information System named the most comprehensive among TPAs for 5+ years
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“The same is true on the liability side. We're frequently looking at how to reduce litigation and ensure we reach the right liability determination and a fair settlement. From our vantage point, the claimant [and] the client need not be at odds. In many situations, we all have the same interests – to resolve, to recover, to be able to restore claimants to health or wholeness based on the underlying claim that they had. From our perspective, outcomes are about how we reach those decisions as quickly and efficiently as possible, and drive a great claims process for both claimant and client alike.”
To achieve the best possible outcomes, GB is using technology such as artificial intelligence (AI) and predictive modeling to support decision-making and increase automation in the claims process, enabling GB professionals to focus on providing value to claimants and clients. Hessling says, “A lot of our effort and energy center on how outcomes analytics can help our clients focus their time and energy more effectively across their claims portfolios.”
1962
1995
2010
2015
2018
2020
Gallagher Bassett founded in Chicago, Illinois
1962
Gallagher Bassett continues to expand, with more than $100 million in annual revenue and offices in the UK and Australia
1995
Gallagher Bassett Global CEO Scott Hudson appointed, the fifth person to hold the position
2010
GB's dedicated carrier practice division founded to support the specific needs of insurance carriers
2015
GB's LUMINOS Risk Management Information System platform named the most comprehensive among TPAs for the first time, a distinction now held for over five years
2018
Mike Hessling named CEO of Gallagher Bassett North America
2020
Milestones
contact us
specialty
Best Insurance
Resources
RISK MANAGEMENT
News
1962
1995
2010
2015
2018
2020
Gallagher Bassett founded in Chicago, Illinois
1962
Gallagher Bassett continues to expand, with more than $100 million in annual revenue and offices in the UK and Australia
1995
Gallagher Bassett Global CEO Scott Hudson appointed, the fifth person to hold the position
2010
GB's dedicated carrier practice division founded to support the specific needs of insurance carriers
2015
GB's LUMINOS Risk Management Information System platform named the most comprehensive among TPAs for the first time, a distinction we have now held for over five years
2018
Mike Hessling named CEO of Gallagher Bassett North America
2020
Milestones
contact us
specialty
Best Insurance
Resources
RISK MANAGEMENT
News
Copyright © 2022 Key Media
People
Terms & conditions
Privacy policy
Conditions of use
About us
Contact us
RSS
Asia
NZ
AU
CA
US
UK
1962
1995
2010
2015
2018
2020
Gallagher Bassett founded in Chicago, Illinois
1962
Gallagher Bassett continues to expand, with more than $100 million in annual revenue and offices in the UK and Australia
1995
Gallagher Bassett Global CEO Scott Hudson appointed, the fifth person to hold the position
2010
GB's dedicated carrier practice division founded to support the specific needs of insurance carriers
2015
GB's LUMINOS Risk Management Information System platform named the most comprehensive among TPAs for the first time, a distinction we have now held for over five years
2018
Mike Hessling named CEO of Gallagher Bassett North America
2020
Milestones
Meeting challenges
head-on
Meeting challenges
head-on
Copyright © 2022 Key Media
People
Terms & conditions
Privacy policy
Conditions of use
About us
Contact us
RSS
Asia
NZ
AU
CA
US
UK
CAREER HIGHLIGHT
Named to the
Insurance Business Global 100 in 2022
Founder and Chair
of the INCLUDE@GB Committee
Keynote Speaker
at the RISE Awards Gala in 2022
FAST FACTS
LUMINOS Risk Management Information System named the most comprehensive among TPAs for 5+ years
Supporting partner for the Law Enforcement Torch Relay
for Special Olympics