Matthew Bates (pictured above) is the National Insurance Brokers Association’s (NIBA) 2024 National Broker of the Year. As part of his prize, the managing director of Bell Partners Insurance recently spent a week in New York attending two short courses at NYU Stern Business School.
What broker tips did Bates bring back from one of the most prestigious business schools in the United States?
“I selected one course focussed on negotiation strategies, conflict resolution and collaboration and then organisational politics and power dynamics via leading through influence,” he said.
The veteran broker said these “pretty universal skills” are “incredibly relevant” to his profession.
“We’re constantly balancing client needs, insurer requirements and tight timelines,” said Bates. “The course was a chance to step back, learn from the best and sharpen the way I show up for clients.
Bates was the only insurance broker in the classes but he said a couple of C-suiters from big insurance firms were there too.
“It was a real mix of professionals from all over the world: mining executives, finance people – including the chief economist from Brazil’s largest bank – even a naval nuclear submarine captain,” he said. “I was the only Aussie in the room, which made for some good laughs – yes, there were kangaroo jokes.”
Bates said the group engaged in insightful conversations about how different industries and cultures handle pressure and negotiation.
“There was lots of crossover with what we do in broking,” he said. “It was a real diverse group from leading organisations such as Google, JP Morgan and Amazon and countries ranging from Saudi Arabia, Brazil, Canada, India and Bermuda.”
One of the learning areas, he said, was the importance of communication skills.
“What stood out was the emphasis on clear, confident communication – especially around articulating value,” said Bates. “There’s a real focus on storytelling and making your point land quickly and effectively.”
The broker said this ability is very relevant to brokers and how they present risk management advice to clients “in a time-poor world.”
The MD said the best approach is to go “hard on the problem but soft on the person.” He said the best outcomes result when the parties are looking to create shared value.
Bates said another focus of the course was the importance of preparation.
“We all know it matters, but this course showed just how powerful it is when combined with a collaborative approach,” he said. “Working together toward a solution, even when interests differ, is more effective than we often realise.”
Bates wanted to give “a massive” thank you to NIBA and insurance firm CGU – the award partner – for making this kind of professional development possible.
Apart from the learnings, he said the opportunity to step out – even briefly – from his day-to-day work, was “energising.”
“And for any brokers thinking about entering the awards: do it!” Bates said. “You never know where it might take you – New York’s not a bad start!”
Bates beat some tough competition to win his learning adventure to the Big Apple. The finalists for the award were: Will Laundy from Pillar Brokerage, Abbie Wilson from National Insurance Brokers, Kieran Volpe from North Queensland Insurance Brokers, and Chelsey Harris from EBM Insurance & Risk.
“This award has a rich tradition of recognising senior broking leaders who have gone above and beyond in helping elevate our profession,” said Richard Klipin, NIBA’s CEO. "Each of this year's finalists brought a wealth of experience and diversity, exemplifying professionalism and making a compelling case for why they deserved to win.”
Klipin congratulated Bates and the finalists “for showcasing that the future of insurance broking in Australia is in highly capable and confident hands.”
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