Meet the Mentors Shaping the Future of Insurance: Steve Wang

In the fast-paced and dynamic world of the insurance industry, recognition is due to those who not only excel but also dedicate their time and knowledge to mentor the next generation of professionals. The Mentor of the Year Finalists represent a group of exceptional individuals who have gone above and beyond in their commitment to nurturing talent and fostering growth within the RISE Community and beyond.

In this exclusive spotlight series, we take a closer look at their journeys, motivations, and the insights they’ve gained throughout their careers. Whether you’re an industry veteran seeking inspiration, a newcomer looking to break into the field, or simply curious about the inner workings of the insurance world, these finalists have a wealth of knowledge to share. Join us as we engage with these luminaries, gain invaluable perspectives, and celebrate their achievements in this exciting and enriching series.

Meet Steve Wang, Divisonal Manager at Mercury Insurance and 2023 Mentor of the Year Finalist:

Q: What aspect of your job in the insurance industry do you find most challenging, and how do you overcome it?

A: Frustration when we just do things “because that’s the way we’ve always done them”. I overcome it by continuing to put forward alternative ways of doing things.

Q: How do you stay updated on the latest trends and developments in the insurance sector?

A: Webinars, blogs, etc.

Q: Can you share a memorable success story or a significant achievement from your career in insurance?

A: My most memorable experiences are joining a new team as a leader and helping that team realize it’s full potential by learning to truly function as a team, making use of each people’s strengths instead of a group of individual contributors.

Q: How do you balance your professional life with personal interests and hobbies?

A: Being organized and driven helps me to be “done” working at a consistent time each day and give me plenty of time for my family and personal interests.

Q: What is one book or resource that has had a profound impact on your career or personal growth?

A: Wooden on Leadership

Q: If you could have a conversation with one influential figure, living or historical, who would it be and why?

A: Abraham Lincoln, I love how he was able to put together a “team of rivals” yet was able to accomplish so much.

Q: How do you handle setbacks or failures in your career, and what have you learned from those experiences?

A: I try to separate setbacks as not being a part of my identity. Also, if you’re not failing from time to time there’s a good chance you’re not pushing enough.

Q: In your opinion, what are the key qualities that make a successful leader in the insurance industry?

A: Communication, open minded and focusing on treating people well.

Q: What are your favorite ways to network and build connections within the insurance community?

A: LinkedIn and conferences.

Q: Have you ever faced a situation where you had to make a difficult ethical decision in your career? How did you handle it?

A: Yes, several times. I have a strong personal moral code that I won’t compromise.

Q: What advice would you give to someone considering a career change into the insurance industry?

A: It’s never boring. Consider what energizes you to choose the right areas of insurance, there are lots of different specialties.

Q: If you could travel to any place in the world, where would you go and why?

A: I would like to visit Taiwan. It’s where my dad’s side of the family is from.

Q: How do you prioritize and manage your time effectively to balance various responsibilities?

A: I do the bulk of my thinking work in the morning when I’m the most fresh. I do the hardest things first and leave the easier things for later.

Q: What role has mentorship played in your career, and do you have any tips for finding a mentor?

A: My mentors have mostly been family members or bosses. I would have liked to have found a true mentor earlier in my career. I think it might have helped me avoid some mistakes. I think the most important thing in a mentor is finding someone you can trust and speak honestly with.

Q: What do you see as the biggest opportunities for growth and innovation in the insurance sector in the coming years?

A: Use of data analytics/AI/machine learning

Q: How do you maintain a work-life balance, especially during busy and demanding periods in the insurance industry?

A: I try to keep the perspective that work is just a job, it’s important and it pays the bill, but work is not a key piece of my identity. Being able to remain organized, prioritize tasks and be efficient allows me to always have time to shut down and enjoy time outside of work.

Q: What steps do you take to promote diversity and inclusion in your workplace and the insurance community?

A: Really just focusing on seeing people for who they are, their unique experiences in different aspects of work and life and how their viewpoint can deepen our understanding of problems and challenges we are trying to solve.

Q: How do you approach continuous learning and professional development to enhance your skills and knowledge?

A: For me continuous learning and development is about remaining curious. Never being tempted to think that I have been around long enough to have it all figure out.

Q: What is one initiative or project you’d like to see RISE undertake in the future?

A: Continuing to partner with schools/colleges to help educate the next generation about the many career options available in the insurance world and all of the areas it touches.