The NIU College of Business’s Executive MBA program hosted another Executive in Residence seminar at the NIU Naperville campus, featuring a presentation from Justin Gress, ’05, COO of Vantage Risk, a specialty lines insurer/reinsurer that was founded four years ago. Gress began the event by sharing his career journey with attendees. He detailed his start with General Electric after earning his B.S. degree in marketing from NIU with a certificate in professional sales in 2005.
“I got an internship with General Electric Insurance Solutions, and I went through their leadership program upon graduation from NIU, which was awesome. I was literally learning from some of the best leaders on the planet,” Gress said.
When GE Insurance was sold to Swiss Re, he was told he would be a reinsurance underwriter for 10 years and then become a supervisor. However, Gress followed his gut and took a different path. “I just couldn’t think about doing something for that long and not having to change,” he said. “So, I left that job to join KPMG’s insurance advisory practice, where I got to work with so many awesome clients and did so many different things.”
From there, Gress spent five years at Chicago insurance company CNA, followed by XL Catlin. Today, he has had a 20-year career in insurance operations and strategy. Prior to joining Vantage, he held several executive-level roles at AXA XL.
When One Door Shuts, Another Opens
During the EIR discussion, Gress discussed the ups and downs of his career. He shared how often the most disappointing moments of his career would turn and reveal new, better opportunities. He spoke about learning he was up for the role of COO at AXA XL Americas after years of leading in different roles at that company, only to learn he didn’t get the job.
Instead, he accepted an executive-level role as a business transformation leader for the company’s insurance business. While he initially viewed this as a disappointing concession, he soon realized that what he truly enjoyed was building businesses. This led Gress directly to an excellent new opportunity, which he was now uniquely prepared for, in the form of a startup, Vantage Risk.
“I’ve always taken that risky assignment, and I would say my advice is to not shy away from doing that,” Gress said. “I think people like leaders who are willing to take some chances to do something that is perhaps the more difficult path.”
Taking a Risk
When he joined Vantage as the company’s 13th employee, he was excited to start something new. He started as the VP of strategic initiatives, but within several months, he had moved to the COO role.
From there, Gress led the company’s development from the ground up, from setting the initial operational plan to working alongside other leaders to establish the foundation for what Vantage is today. He also suggested attendees consider using the Rapid Results Initiative (RRI) framework to address specific challenges or grow their businesses. This framework is a great tool for emerging leaders to solve both small and large challenges.
Finding Success
“It works. I’ve done hundreds of them and only had two RRI goals that truly failed,” he said. “If you set a specific goal, people don’t have to work for you. It’s more about influential leadership and getting the right people to the table. And the problem can be very small, and it should be very specific. I truly believe that this is a skill that you should learn how to facilitate and eventually look to serve more in a sponsorship capacity.”
Today, four years after its founding, Vantage has grown to 360 employees, and Gress attributes that growth to the company’s investment in its culture, people, data, and technology.
