July 13, 2020

This paid piece is sponsored by Marsh & McLennan Agency. 

From coaching sports to coaching clients in risk management, Mike Barber’s diverse career has positioned him well for helping others succeed.

Barber is a risk management consultant in the business insurance division at Marsh & McLennan Agency. A former development director for the College of Agriculture, Food and Environmental Sciences at the South Dakota State University Foundation, he now focuses on serving MMA’s clients in the agribusiness and food industries.

Barber is a Sioux City native who holds a bachelor’s degree in health, physical education and recreation from SDSU.

We sat down with him to learn more about the unique role he plays for clients.

What attracted you to Marsh & McLennan Agency?

The people I met here, their professionalism and passion for their work. My goal when working with clients is to build a relationship that is based on trust and provides value for them and their business. MMA’s mission, vision and values are perfectly suited to being able to do that.

What aspects of your job give you the greatest sense of accomplishment?

I have always played and appreciated team sports, and I still enjoy working that way today. When I work with colleagues and clients to develop a successful plan, I really enjoy the “we” in developing a new business partnership. I want to be able to be a teammate when times are tough and to be able to assist when it is time to build things up again.

What makes you stand out from others in the field?

My diverse professional background. I have taught high school and coached, handled insurance claims as an adjuster and conducted major-gifts fundraising. I think this combination of experience gives me a unique perspective. Not only have these professions required me to communicate clearly, but I’ve seen and worked through so many conflicts and problems that I’m able to navigate with other people.

What are the major issues you see affecting businesses in the next few years?

I would say the adoption of new technologies or the decision not to adopt new technologies should be on the short list of important decisions to be extremely thoughtful about. As an example, organizations that have not invested in information technology and cybersecurity in the last five years have paid the price in the form of lost time and efficiencies during the COVID-19 pandemic. I want to be able to be a guide for companies that are ready to keep pushing toward the future of technology.

Another subject that has been on the forefront of my mind since I have started working at MMA would be the increased exposure to liability losses. The increased amounts of civil litigation awards are not only increasing the costs of insurance, but they are increasing the possibility that a single loss could devastate everything clients have worked so hard to create.

What is one piece of advice you’d like to offer businesses when it comes to managing their risk? 

Relationships are — and always will be — at the center of doing business. However, in today’s world, it is vital to work with someone who also understands your business and can bring forth resources that add value to your organization. Times have changed, and so have your exposures. Make sure you have the right partners.