Rising Star Alex Giterman Helps Manufacturing Companies Face the Industry’s Ongoing Challenges
Come see the Stars! As part of our ongoing coverage of the best brokers in the commercial insurance space, Risk & Insurance®, with the sponsorship of Philadelphia Insurance, is expanding its coverage of the Rising Stars — those brokers who represent the next wave of insurance brokering talent.
Look for these expanded profiles on the Risk & Insurance website and in your social media feeds now and throughout 2023.
Here’s our conversation with Alex Giterman, assistant vice president and broker at Aon — and a 2022 Manufacturing Power Broker finalist and Rising Star.
Risk & Insurance: How did you decide to embark on a career in the insurance industry?
Alex Giterman: I got started through an internship while I was in school. An old family friend worked for Aon in our Cleveland office and had since moved onto the client side; he helped me get my foot in the door.
Insurance was still not necessarily at the top of my radar after that, but I did end up interviewing for a full-time position after graduating and have been in the industry ever since.
It is a niche industry in that not everyone thinks of it as a career path, but I have enjoyed it every step of the way and was glad to end up where I did.
R&I: Although you work across several industries, many of them are within the manufacturing arena. From your experience, what sets the manufacturing space apart within the insurance sector?
AG: I do work with manufacturing clients a lot given the geography I am in. Because of how broad in scope manufacturing can be, almost all my clients in the space present unique challenges to their firm.
I have had clients that have made their name in one specific product but pivot to a new sector that entirely changes their risk, while others are in the chemical or medical product space.
Being able to help my clients problem solve in such different areas helps to keep every day interesting.
R&I: What are the biggest challenges facing the manufacturing space that you help your clients handle?
AG: I think that, like many industries, the manufacturing sector has had its troubles in recent years due to COVID and the economic side-effects stemming from the pandemic.
Many of our clients had difficulty getting materials in a timely manner as the supply chain tightened, margins thinned as the cost of materials increased, and it became harder to retain their workforce. Couple these factors with the insurance marketplace tightening, and it became very difficult for many companies from a cost perspective.
Our goal has always been to help mitigate these challenges by working to procure as competitive insurance programs as we could provide.
R&I: What do you enjoy most about your work? How do you make a difference in your clients’ professional lives?
AG: I really enjoy the analytical nature of my role as a broker. We are often presented with complex situations in terms of interpreting coverages or providing guidance on how a policy might respond. Arriving at a resolution for the client that they are satisfied with is always a great feeling. &