Unlocking Careers in the Wholesale Insurance Market

The wholesale insurance market is a vibrant, innovative, and growth-oriented sector. It offers a fulfilling career for those eager to collaborate, innovate, and make a societal impact. With resilience, creativity, and strong relationships, professionals in this space are shaping the future of insurance while enjoying a diverse and dynamic work environment.

For job seekers looking for a career that delivers versatility, collaboration, and growth, the E&S market offers all this and more. Unlike the traditional insurance market, which may turn down or limit coverage, the wholesale market is known for solving coverage issues, often through unique approaches to risk mitigation.

It is also an active, vibrant market. E&S lines continue to experience significant growth and market share gains. This area of business has proven to be resilient and is increasingly recognized as an innovator within the insurance industry.

Laura Johnson, Head of Excess & Surplus General Liability, and Ankur Chokshi, Head of Field Operations, Wholesale Solutions, recently shared their insights about the wholesale market and the opportunities it offers for a fulfilling career. They highlighted the symbiotic relationships they maintain with teams and brokers, as well as how technology is driving innovation in the industry.

Q: The wholesale insurance market has been described as the hidden gem within the insurance industry. Why do you feel it is a hidden gem?
Laura: The wholesale insurance market is highly unique due to its specialized nature. Success in this space depends heavily on cultivating strong, strategic relationships with wholesale brokers. These brokers tend to focus on niche markets and require quick solutions for their clients. A solid relationship between underwriter and broker facilitates prompt, efficient responses to client needs, which is crucial.

Additionally, underwriters in the wholesale space must possess broad and versatile knowledge. They need to understand a wide range of industries and be familiar with various product segments. This expertise enables us to effectively evaluate and underwrite complex and specialized accounts, making the wholesale market a dynamic and integral part of the insurance ecosystem.

Ankur: The wholesale market has been a leader in creating innovative solutions for tough-to-place risks. This allows industry professionals to showcase creativity, work at speed, and truly make a difference for clients facing ongoing challenges—especially as the industry has been discussing these issues over the past few years.

The wholesale market has been a leader in creating innovative solutions for tough-to-place risks. This allows industry professionals to showcase creativity, work at speed, and truly make a difference for clients facing ongoing challenges...

Q: What do you love about your jobs?
Laura: The human aspect is what makes my job so engaging. I love connecting with brokers and my underwriting team—asking, "What’s on your desk today?" This environment is fast-paced, with each day bringing something different. The bonds and connections we build create a fun and energetic atmosphere where boredom is never an issue.

I also really appreciate the team we've built here at AXA XL. It feels like a second family. With our combined experience, we provide extensive training and mentorship to the next generation of underwriters. It’s an exciting time to be part of AXA.

Ankur: I share that sentiment. It’s a close-knit community striving to make a real difference. In today’s society, the world is becoming riskier, and our sector acts as a release valve—providing solutions to these challenges. Knowing that I’m involved in making a societal difference gives me a sense of fulfillment.

It’s about collaboration across lines and businesses—solving problems and helping communities both locally and beyond.

Ankur continued, “What’s exciting about the wholesale space is its dynamic nature, which fosters collaboration and innovation when facing unfamiliar or complex risks. Everyone works together to problem-solve, which can lead to the development of new products.”

Q: That is at the core of the industry, isn’t it? Wholesale/E&S has been a leader in innovation, correct?
Ankur: Yes. In fact, cyber insurance was born within the wholesale market. It continues to lead with innovative products that address new and emerging risks. With the rapid development of technologies like AI, autonomous vehicles, and the Internet of Things (IoT), these advancements will all require specialized insurance solutions. Many of these innovations started within the wholesale arena.

Q: What can a new employee or job seeker expect from a career in the wholesale market?
Laura: Expect a fun, fast-paced, collaborative environment. There’s a no-man-left-behind mentality where everyone rolls up their sleeves to solve problems together. As I mentioned earlier, it’s a relationship-driven business, so constant communication with brokers and colleagues is key. You’ll enjoy building a work environment where you want to go into the office, work closely with your team, and continually learn and develop new skills.

Ankur: It’s about constant learning, variety, and growth. You’ll never get tired. Many say that even after twenty years in this industry, you’re still learning just as much as on day one—that’s the beauty of this field. It never becomes boring or old.

We’re also building resilience into the market. Amid social inflation and current economic strains, we’re the market brokers turn to for relief. We help stabilize the industry by providing creative, tailored solutions for tough segments that are difficult to place within traditional insurance lines. Brokers and clients rely on us to meet their unique needs.

Q: It sounds like the wholesale market is vibrant and growing.
Ankur: Yes. While growth may not always follow a straight line, there will always be risks and challenges that create continuous opportunities.

Laura: I fully agree. Resilience and forward-thinking are essential. We constantly analyze market trends, monitor competitors, and strive to serve our clients better. Anticipating changes before they happen is crucial.

This isn’t a career where you get stuck doing the same thing forever. The E&S space is constantly evolving, offering multiple paths and emerging areas that don’t even exist yet—presenting exciting future opportunities. It’s a rewarding career with plenty of room for growth and exploration based on my experience.