Why some sureties struggle
Surety is a niche industry. Sometimes it’s overlooked or dismissed by job seekers because it’s not often discussed in a university setting the way banking, marketing and law are. Part of our responsibility is to make the effort to sell potential candidates on the benefits of a career in surety.
From the outside, they might think that insurance is an older industry, resistant to change. In reality, the industry is constantly evolving and innovating, leveraging the latest technologies to better predict and evaluate risk, and supporting clients in their efforts to develop something new.
We have to show up-and-coming talent that risks move the economy forward and that surety bonds often play an important part in executing large, impactful projects – in some cases, even helping to protect taxpayers’ investments.
How to apply innovative thinking
- Keep an entrepreneurial mindset
- Hire from varied backgrounds
- Offer career flexibility
At the core of our approach is an entrepreneurial mindset, which means giving employees more of a voice than they might have with larger, more traditional insurers. If underwriters see an opportunity and do the work, we’re going to support their ideas as long as it makes sense for the company.
Part of what allows us to take this approach is the breadth of experience our team members bring. Since becoming president of Argo Surety in 2012, Josh Betz has made a point to seek talent from a wide range of professional backgrounds. For example, we’ve employed engineers with decades of energy sector experience to bring their technical expertise to the underwriting process.
We’ve also rethought the way we delegate responsibilities in some cases. Argo Surety’s portfolio management team constantly analyzes and evaluates various aspects of the portfolio and the industries we support. They help improve service by giving the market-facing team data, tools and time to interact with clients.