Jake Davis, COL ’26, Wall, NJ
This past summer, I was very grateful to be given an opportunity to intern at several Allstate Insurance firms managed by highly decorated insurance and financial advisor, Ken Dadd. Spanning across New Jersey, these 3 firms gave myself a detailed perspective into the insurance and financial service industry, providing myself with a new learning experience and a chance to engage with diverse business practices. During my internship, I was engaged in various facets of the insurance world. I began my experience by shadowing managers from each firm, going through their everyday hands-on practice. I quickly became familiar with different types of insurance, including auto, home, and life insurance, which are the three main services each firm provided. This knowledge was the baseline for understanding how each product serves distinct purposes and how they can be integrated into a comprehensive financial plan, providing families all over the state and the country with a personalized insurance agent contact whenever necessary.
The internship offered several other opportunities to learn industry-specific terms and sales techniques. Terms such as premium, deductible, and co-pay became part of my daily vocabulary, enhancing my ability to communicate effectively with clients and coworkers. My favorite task was when I was given the chance to cold call leads or offer reviews of clients current insurance plans, which was the main bulk of my role after the first several weeks. While challenging, this experience taught me not just how to approach potential clients, but how to present insurance products persuasively, while handling communication skills that are critical in any sales oriented profession. Another part of my internship was attending investment planning and opportunity meetings. Sitting in on these discussions provided a deeper understanding of how insurance products are integrated into broader financial strategies. I observed how seasoned professionals analyze market trends, assess investment opportunities, and develop personalized financial plans for clients. Shadowing each manager from each office was an eye-opening experience. Each individual had a distinct approach to leadership and client engagement, giving myself a broad perspective on different management styles that I could reflect and change day to day. Observing their interactions with clients and their problem-solving strategies, as well as hearing tips that were given and adjusted on the fly was very effective for learning how to lead and communicate in a very competitive insurance industry.
In conclusion, my summer internship at all three Allstate Insurance firms was an extraordinary opportunity that excessively boosted my understanding of the insurance industry. Given the chance to regularly shadow managers, coworkers, sales representatives, and several other small roles throughout the office gave myself a well rounded experience of how insurance firms systematize their individual practices. Learning about various insurance products and engaging in client interactions provided a comprehensive foundation in insurance and financial planning. On the other hand, cold calling, reviewing client asset maps, and attending individual client meetings deepened my skills in communication and client management. Observing the diverse leadership styles and problem solving strategies changing from office to office further enhanced my ability to navigate and lead in this competitive field. I was very appreciative at the end of this internship to be given the opportunity to join the firm next year after completing my licenced exams to become an insurance advisor. This internship not only broadened my professional skills but also created a realization of a possible commitment next summer or in the near future to pursue a career in insurance.
This is part of a series of posts by recipients of the 2024 Career Services Summer Funding Grant. We’ve asked funding recipients to reflect on their summer experiences and talk about the industries in which they spent their summer. You can read the entire series here
