By Business & Finance 
Ronan Foley is CEO of Gallagher in Ireland, one of the leading insurance brokerage, risk management, and consulting companies.
What are your main priorities and goals in your role?
As CEO of Gallagher Ireland my focus will be on continuing the rapid growth trajectory achieved in recent years, welcoming new colleagues and continuing to deliver more for our clients and teams. I want Gallagher to be the first choice for customers seeking a new level of expert advice and care. In addition, it’s important we retain and attract the very best talent to what I believe is one of the most exciting businesses in Ireland right now.
What have been your highlights in business over the past year?
I think bringing both of our recently acquired businesses i.e. Keaney and First Ireland into the Gallagher fold has been an incredibly important part of our success in recent months. Both teams have added to the level expertise within our business and to the guidance we give our clients.
Another highlight has been witnessing existing colleagues expand their levels of knowledge and ability through new learning, acquiring new skills and gaining experiences in other areas of the business. We have also benefited from attracting new talent from the Irish broking market and this has enabled us to enhance our commercial and corporate insurance offering to clients in key sectors such as Manufacturing, Pharmaceutical, Power, Energy and Construction whilst maintaining our vast experience and capabilities tailored to the SME market in Ireland. The introduction of a new private client division has also been exciting for the team and has enabled Gallagher to deliver tailored services to individuals with more unique needs.
Where do you want your business/brand to be this time next year?
We have an exciting year ahead of us, one that will see our business continuing its momentous growth journey. I want the Gallagher name to be synonymous with excellent service and advice, and to attract even more customers looking for support with their insurance needs. We have a strong track record on the acquisition front and are constantly on the lookout to partner with like-minded businesses that are interested in opportunities for growth. Gallagher is a brilliant place to work and the team is razor focused on continuing to provide the best possible environment for existing and new colleagues joining us. We’re passionate about supporting the communities and our colleagues make a tremendous effort in terms of volunteering and raising money for important charities, this is something we will continue to pursue as it’s a core part of our DNA as a business.
What new trends are emerging in your industry?
One of the biggest risks facing businesses at the moment is cyber-crime and we have seen an increase in the level of ransomware claims over the past year. Cyber criminals are continuously evolving their method of attack, and this makes it hard for businesses to protect themselves and potentially recover from an event.
What are the challenges facing the industry going forward?
We have been working closely with our clients to make sure they are fully insured as we know that many businesses have the tendency to underestimate their insurance needs. In addition, we are seeing an increasing trend of underinsurance. This is concerning, as a failure to obtain appropriate levels of insurance could see businesses being vulnerable to substantial financial setback in the wake of an event or crisis. It’s crucial that all businesses speak with their broker so that all potential risks are accurately identified, and appropriately covered.
As an employer are you finding any skill gaps in the market?
We’re lucky to have some of the best talent and our teams really do help drive our business forward. In addition, we place a continued focus on recruiting locally and on attracting the best people for the job. In terms of skills, we provide colleagues across the business with the opportunity to take part in our development programmes, which are usually tailored to the individual and place an emphasis on skills building and career development. I would encourage anyone out there to consider the insurance sector as a possible career option. It’s an incredibly resilient, exciting and rewarding space to work.
What are the biggest challenges as CEO
Instilling and maintaining the right culture in any organisation has and always will be the key factor for success. It’s important to speak with colleagues in person as much as possible and to look for ways of increasing engagement and involvement. It’s also important to have a bit of fun with it along the way, so don’t forget to enjoy what you do and celebrate success with colleagues or simply say thank you to someone who’s done a good job or deed.
How do you keep your team/staff motivated?
I believe in sharing information about where we are and the vision for the business as much as possible, recognising and rewarding talent when you see it regardless of the length of tenure and backing individuals in more senior roles. Ultimately, empowering people to make decisions and contribute to the business strategy so that they feel heard and valued is the secret sauce for me.
What is the best advice you have been given, or would give, in business?
I’d probably quote an old African proverb that sits on the wall of my office “If you want to go fast, go alone, if you want to far, go together”. For me, it’s about creating a clear vison for the future of the business and generating a sense of excitement amongst colleagues about being part of the success ahead.
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