Develop a specialty in theinsurance business and you will never have to worry about stayingemployed, Patrick G. Ryan, founder and former chief executive ofthe insurance-brokerage firm Aon, declared during a Feb. 16 addressin New York.

Speaking at the 16th Annual Industry Leaders Luncheon sponsoredby the Eastern Chapter of the Professional Liability UnderwritingSociety (PLUS), Ryan, current chairman and CEO of Ryan SpecialtyGroup LLC, said the insurance industry remains “a great industry,”offering lots of opportunities for individual success for buddingentrepreneurs.

Ryan, who founded the wholesale brokerage firm RSG in 2010 aftera brief retirement, said he started up RSG because the insuranceindustry continues to offer an entrepreneur great opportunities—andbeing an entrepreneur himself, he could not escape the pull ofstarting a new business again.

Timing was not an issue, he noted, reasoning that “the best timeto do it is now, because you can't pick your opportunity in lifewhen to start a business.”

He says another driving force is the appeal of doing somethingthat has “a powerful impact” to benefit others. Without insurance,he continued, commerce would not have developed to the global scaleit has today—and “I like the idea of having an impact on what we doin life.”

Because insurance is a creative industry that aims to solve theproblems behind risk, it must attract great talent, he said, andthat is the heart of any organization. He added that “the qualityof talent” is also how brokers differentiate themselves in the eyesof their clients.

Ryan said his heart has always been in specialization, and thatis why he is where he is today. He advised producers that if theyare good at what they do, they should evolve their talent intodeveloping a specialty and they “will be employed forever.”

Communication is another key component to success, he said,which means that producers need to be good listeners; being a goodlistener is a major factor in changing minds.

“You can sell to anyone if you listen and address theirconcerns,” says Ryan.

Speaking to NU after his address, Ryan said he does notthink the insurance marketplace is going through any dramaticpricing change yet and that it is too early in the cycle for thatto happen. He noted there is too much capacity remaining inmarkets.

For the most part, pricing remains great for clients—but freemarkets still determine if insureds with severe loss histories willget significant price hikes, he added.

Ryan had no opinion when asked about Aon's announcementthat it is planning to move to London. He had the same response tothe announcement that Willis Group Holdings would begin toaccept contingentcommissions on employee-benefits business.