Embracing intergenerational inclusion: Insights from my Munich Re colleagues

Intergenerational inclusion sounds like a mouthful, right? But hang on, it’s not as daunting as it sounds. At Munich Re, we’re all about blending the wisdom of experience with fresh perspectives.

I recently sat down with three fantastic colleagues from Munich Re’s facultative underwriting team - Chris, a Boomer; Corie, an early Millennial; and Ryan, a late Millennial - to delve into what makes our workplace tick. Here's a glimpse into our enlightening conversation about the dynamics of working across generations.

Meet Chris, Corie and Ryan

Chris Coughlan : A seasoned underwriter with over five decades under his belt, Chris paints a vivid picture of how the insurance industry has evolved. "Inefficient," he chuckles, reminiscing about the days when fax machines were the pinnacle of communication. Back then, decisions took weeks, now it’s instantaneous thanks to technology. Chris joined Munich Re for the global exposure and the challenge of reinsuring risks on a massive scale.

Corie Cowan : Coming from a diverse background in broking and direct insurance, Corie found stability and specialisation at Munich Re. "Committed," as she reflects on her generation's adaptability and focus. Her 'wow' moment? Discovering the satisfaction of mastering a single area after years of varied roles.

Ryan Bush : As part of the APA Associate program, Ryan joined Munich Re seeking a structured development program and fast-paced learning opportunities. "Demanding," he muses, describing his generation's hunger for development and growth. His journey at Munich Re has been about honing skills over time, moving away from the stereotype of quick advancement to appreciate the value of deep expertise.

Let’s start with something light-hearted. What word best describes your generation?

Chris: 'Inefficient' compared to what we know now. When I first started, everything took much longer. For instance, sending a risk referral to Munich involved assembling a physical case. We used telex and then fax machines for risks which required managerial approvals. For larger documents and the more complex risks like Liability & Financial Lines, details went via air mail, taking 2-3 weeks to get the necessary signoff. Today, technology has transformed these processes, making them almost instantaneous.

Ryan: I'd say 'demanding'. We have high expectations and systems in place, but it's challenging. There are positives, like pushing for efficiency and innovation, but also negatives, such as being labelled as entitled or lazy.

Corie: I don’t dwell much on my generation; I think about others. 'Committed' maybe? Our generation spans a wide spectrum; Ryan and I are 13 years apart, which feels like opposite ends of the Millennial generation.

Chris, you’ve been with Munich Re for 35 years. What led you to join the industry?

Chris: Funny story, really. My boss, now retired, nudged me into it after a lunch chat with someone keen on hiring me. It was a global reinsurer, offering opportunities I hadn’t seen in direct insurance after 15 years. The prospect of working on a global scale and dealing with more complex risks was very appealing.

Ryan, you joined through the APA Associate program three years ago. What motivated you?

Ryan: After a varied graduate role, I craved structured development and diverse experiences. The program promised clarity and progression, which appealed to me more than a standard job path. The idea of rotating through different departments before specialising was particularly attractive.

How does this align with your current role as facultative underwriter?

Ryan: It's fulfilling to specialise and improve over time, unlike my initial 6-month rotations where I was constantly switching roles. Yet, I relate to the impatience of my generation; we want quick career advancement and often look for rapid results.

Corie, nearly a year at Munich Re. What drew you here?

Corie: I sought stability and specialisation after years in dynamic markets like broking. The culture and focus here attracted me; I’ve surprised myself with how deeply I’ve immersed in one area. It’s been a refreshing change from constantly having to adapt to new roles and responsibilities.

Chris, reflecting on your career, how do today’s experiences compare to yours?

Chris: People still stumble into insurance, but today’s path is different. In my time, becoming an underwriter was a gradual journey through various roles, building broad expertise. Millennials and younger generations seem eager to reach senior positions earlier in their careers. It's quite different from when I started out. Loyalty was paramount; leaving a company meant forfeiting benefits like superannuation. Now, mobility and career shifts are common, and there's a greater focus on individual career growth rather than long-term loyalty to a single company.

Can you share a positive experience collaborating with someone from another generation?

Corie: Working closely with Ryan has been enlightening. Coming from a generation where computers were not daily tools, I sometimes struggle with IT and Excel. Ryan’s expertise has made a significant difference in my day-to-day work. He’s shown me shortcuts and tools that I never knew existed, making my tasks much more efficient.

So Ryan, what tech tools should everyone be familiar with?

Ryan: Excel is a big one, for sure. I've noticed that not everyone is taught these skills early on, depending on their background. For instance, a colleague from a legal background joined us and had never used Excel before. It goes both ways—you adapt based on what your job requires.

Chris, how has learning from younger colleagues impacted you?

Chris: Coming from an era without computers, where everything was manual, the shift to today’s technology has been profound. Learning from younger colleagues like Ryan has shown me how far we’ve come. Their grasp of technology and the speed at which they adapt is impressive. It's a constant reminder of the importance of staying current and open to new ways of working.

Any funny moments highlighting generational differences?

Corie: I once tried to update my email signature template and asked Ryan for help. We discovered that the term "facsimile" on the signature was completely unfamiliar to him! It was a light-hearted moment that highlighted how much has changed.

Chris: Ryan, do you remember when fax machines were common?

Ryan: No, but it’s fascinating to hear about the technology before my time. It really puts into perspective how quickly things change.

Have you noticed different work styles among generations?

Ryan: Definitely. Senior managers often give more autonomy, expecting you to figure things out independently. Younger managers might operate differently, offering more guidance and support along the way.

Chris: Management styles have evolved, with more emphasis on open communication, mental health awareness, and work-life balance. This has improved workplace dynamics and made it a more supportive environment.

Corie and Ryan, have you ever felt your opinions weren’t taken seriously because of your age?

Ryan: Personally, no. There’s sometimes an expectation that as a younger colleague, you should be proficient right off the bat, which can be challenging. But generally, my input has been valued.

Corie: In previous roles, age played a role in how seriously my opinions were taken. Here at Munich Re, there’s a culture of respect and openness. My contributions are acknowledged and appreciated, which is refreshing.

Chris, you mentioned the importance of direct communication. Can you elaborate?

Chris: I believe in picking up the phone and having a conversation to build relationships. Emails often lack the personal touch and nuance that come from direct communication. A phone call can resolve misunderstandings quickly and foster stronger working relationships.

How have your views on remote work changed over time?

Ryan: Before 2020, I never considered remote work viable. Now, having experienced it, I see both benefits and challenges. There’s a balance needed between flexibility and in-person collaboration. Remote work offers great flexibility, but face-to-face interaction is crucial for building relationships and team cohesion. Colleagues like Chris have been invaluable, offering mentorship and context that helps me navigate complexities with seasoned insight.

Corie: Younger generations value flexibility more, but COVID-19 accelerated the acceptance of remote work across all generations.

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What aspects of workplace culture frustrate you when dealing with different generations?

Corie: Punctuality is crucial to me. I find it frustrating when there’s a lack of respect for meeting times.

Chris: Reliance on written communication over personal interaction frustrates me. Building relationships through direct conversation is essential.

Looking ahead 20 years, what changes do you envision at Munich Re, especially with Gen Z entering the workforce?

Ryan: When I started, senior colleagues took the time to guide me. I hope we maintain the patience to mentor and teach others. It concerns me that we might lose that. If current trends continue - remote work and less face-to-face interaction - learning could suffer. Chris, you mentioned the significant technological changes over the past 30 years. In my mind, AI will likely handle a lot in the future.

Chris: Exactly. But the unknowns are significant. AI discussions are rampant, but we’re unsure how it will reshape our daily tasks. It'll streamline processes, enhance analytics, maybe even improve decision-making speed. But what will it mean for our roles? For me, that's the big question.

Corie: I worry technology might overshadow human connections. The personal aspect is what makes this job enjoyable and engaging with people in the industry is the best part.

As I think back on our discussion, it's clear that Munich Re is more than just a company - it's a vibrant mix of experiences and perspective across generations. Chris’s insights on tech evolution, Ryan’s thoughts on balanced mentorship, and Corie’s emphasis on personal connections all give us a richer perspective on the promising future of reinsurance. Looking ahead, while AI and technology bring both challenges and opportunities, I’m convinced that the human touch will always be essential. It’s all about building relationships across generations and passing down wisdom.

A huge thank you to Chris Coughlan , Corie Cowan , and Ryan Bush for your fantastic insights. I really enjoyed our chat and had a great time sharing some good belly laughs!

#IntergenerationalInclusion #MunichRe #FutureOfWork #Reinsurance