As Chief Sales Officer for HUB Colorado, Andrea Baldrica guides the team to ensure target completion as well as exceeding client expectations. In 2014, Andrea sold her agency to HUB International and came on as the Colorado Springs Practice Leader. In 2019, she was named the Chief Sales & Strategy Officer, guiding all lines of coverage to develop and execute sales strategy for HUB. When working with clients, Andrea focuses on multi-state and global organizations. Andrea brings her expertise in self-funding, direct provider contracting, captive management and pharmacy contract utilization to drive actionable strategies that bend cost curves, reduce risks, and improve employee satisfaction.
Born and raised in Colorado Springs, Andrea is passionate about the community. She has served on the board of directors for the Southern Colorado Chapter of Health Underwriters, The Southern Colorado Chapter of the American Red Cross, and the Children’s Literacy Center. Additionally, she has served on the national broker advisory boards for several insurance carriers and speaks regularly on health care and insurance trends. Andrea has a BA from The Colorado College, and an Executive MBA from the University of Colorado. She has continued her education with Leadership Pikes Peak, and on-going leadership and industry classes. She is fluent in Italian and is passionate about Italian culture, as well as traveling with her kids and husband.
Recently, in an exclusive interview with CXO Outlook Magazine, Andrea shared her professional trajectory, insights on diversity and inclusion, the secret mantra behind her success, her favorite quote, future plans, pearls of wisdom, and much more. The following excerpts are taken from the interview.
Hi Andrea. Please tell us about your background and areas of expertise.
I started in Employee Benefits in 2001 right after 9/11, with a small agency owned by my step-dad, and within a couple of years I decided it was the career that I wanted. We created a plan so that I could buy-out my step-dad, which I completed in 2008. At that point I focused on small group benefits in Colorado, and worked for several years to grow the agency. At some point I realized I wanted to work with more complex accounts, but I knew that I did not have the resources to move up-market and there was only so much that I could outsource while maintaining profitability. In 2012 I made the decision to pursue an Executive MBA, and through that education and in talking with mentors, it seemed like the right time to sell my agency. I sold in 2014 to HUB International. It was a successful transition, and I qualified for our Leader’s Club, SHARP, within my first year and for the subsequent years. I developed expertise is multiple funding options and focused on multi-state and multi-national employees. I love unions, multiple plan structures, and challenges. The more complex the better! Having the resources that at the time a top ten brokerage could provide was a game-changer for me. In 2019 my mentor took over as our president and asked me to become our Chief Sales Officer. Leadership was always something that I wanted to eventually get to, and I was ready to make the shift. I’ve been the Chief Sales Officer for Colorado, for six years, overseeing Employee Benefits, Retirement & Private Wealth, Property & Casualty, and Personal Lines.
What do you love the most about your current role?
I love strategizing with our sales team to win new clients! Thinking through the approach and people to include in meetings is fun when it leads to success. I also love the challenge of helping my teams work through complex situations and position themselves to win. It is extremely rewarding to mentor people and seeing them improve and grow.
What emerging trends or innovations excite you for the future of the insurance industry?
AI will change the way we all do business, and we are already seeing some dramatic impacts on our industry. It will improve claims predictability and forecasting will change the industry and way that we are able to manage our clients’ financial performance. It will be interesting to see how this plays out with regards to proactive measures that companies can take to mitigate high- cost claims.
I also expect to use AI more in forecasting sales and financial performance. This should help us run our businesses better and plan better for the future. The technology changes are so rapid right now, that it is hard to predict what will come next.
What are your thoughts on diversity and inclusion in your field? How important is it to have authentic conversations with leaders, professionals, and changemakers to create more acceptance across the globe?
I think the industry has worked to improve on diversity and inclusion, but there I always room for improvement. Having diverse voices and backgrounds is essential for our industry to successfully serve our clients, but we also require a significant amount of expertise since we are responsible for consulting on our clients most precious assets. I think that we need to focus on youth so that we are able to develop interest in an industry that is not always seen as sexy. With our aging industry we need to continue our efforts to bring in a diverse workforce in all senses of. e word. Our clients are around the globe and have remarkably diverse workforces. If we don’t have a variety of perspectives, it is a disservice to our clients.
You were recently recognized as one of the Top 50 Women Leaders of Insurance for 2024. Our readers would love to know the secret mantra behind your success.
I don’t know that this is a secret, but I believe in being authentic and I think that has served me well. Whether it was in my role as a direct contributor or as a leader, I have always worked to bring energy and honesty to my interactions. My goal is that people leave every interaction knowing that I’m invested in their success.
I also had a mentor once tell me that the most successful people in sales minimize their “wallow” time when they lose a deal. I take that to heart and coach people that you can have a night to be down after a loss, but the next day is a new day and you have to put your past behind you and look to what great thing you can do that day. It has really helped my get back on the horse after a rough ride.
If you could have a one-hour meeting with someone famous who is alive, who would it be and why?
I think I’d like to interview Oprah Winfrey. I think she is an amazing inspiration, who came from nothing, as an unknown black female to one of the most successful and influential women of our time. Not only is the empire she has built something that is amazing, but equally inspirational is all the people she has carried along with her. I think we all have the responsibility to pull others with us in our success so that we perpetuate success for future generations and those around us.
Is there a particular person you are grateful for who helped get you to where you are?
There are too many to count, but if I had to pick one it would be my husband who helped me overcome a lot of fear and believe in myself and abilities. I would not have made some of the career decisions that have gotten me to this point without being able to bounce ideas off him, talk through scenarios and feel the support that he has always given me.
How do you keep your mind healthy and stay resilient? And how do you motivate your team?
Having hobbies outside of work where I can draw energy from help me stay focused and grounded. I exercise daily, love to cook, read and believe in taking a long vacation every year that allows me to recharge and come back excited to tackle what lies a head of me. Downtime and recovery are as important as going hard.
What is your favorite quote?
“What would I do if I weren’t afraid? And then go do it.” Sheryl Sandberg
Where do you see yourself in the next 5 years?
I want to continue to grow my impact on my community. I don’t know where I will be physically in five years, but I plan to be challenged, engaged and learning. I want to take on new projects and focus on learning. I’d like to continue to lead people and continue to grow an organization.
What advice would you give to anyone starting out on their career in your industry?
This industry can provide a life-long career or can be a stepping-stone- that is up to you but dig in and learn as much as you can for whatever the future brings. We live in a world of uncertainty, and we sell products to help protect against a lot of those uncertainties. It is amazing to make a good living knowing that you are helping others build and protect their most precious assets, but don’t let that responsibility intimidate you. There is a lot of fun and growth in what we do. Find a great mentor that you connect with and be intentional about your relationship with them to learn and grow. Finally, my best friends (including my husband) came from this industry. If you show up authentically and allow yourself to be open to honest conversations, you will develop amazing relationships that can serve you no matter where you go.