A.J. Gallagher insurance brokers says it has made large investments in technology as it seeks to help clients cope with high inflation.
The efforts have paid off. The Gallagher OC unit’s revenue grew 19% to $77.1 million for the full year 2023.
That placed it at No. 4 on this year’s list of largest OC insurance brokers by revenue, behind No. 1 Alliant Insurance Services Inc. followed by Marsh Risk & Insurance Services/Mercer and Burnham Benefits Insurance Services, all three also in Irvine.
“Many businesses are struggling to maintain their profit margins due to inflation, so we’re bringing innovative solutions to help battle those rising costs,” Area President Mike Bialik told the Business Journal on Sept. 17.
He added: “We’ve made large investments in technology, which has made us stronger consultants.”
The Irvine unit had 18 licensed P&C (property and casualty) producers and 17 benefits producers with L&D health-related licenses.
Its primary industries served include captive programs, real estate, hospitality, financial services, construction, retail, manufacturing, technology, engineers and architects.
Area President, Benefits & HR Consulting
A.J. Gallagher
Great Talent
“By hiring, acquiring, and retaining great talent, we’ve been able to work with companies of all sizes, helping them with their business risks and employee strategies,” said Bialik, area president, benefits & HR consulting.
Gallagher is using data to question traditional thinking, and it has increased client retention and net promoter score (NPS), while improving the sales close ratio, he said.
Gallagher in Irvine is a unit of the parent company A.J. Gallagher of Rolling Mills, Illinois.
Founded by Arthur Gallagher in Chicago in 1927, Gallagher’s work includes insurance brokerage, risk management, and HR and benefits consulting.
With international reach, the company employs over 52,000 people while its global network provides services in more than 130 countries, according to the company’s website.
Gallagher has climbed to No. 3 worldwide, with 2023 revenue of $9.91 billion, according to insurance rating agency A.M. Best.
“I am passionate about building a high-performing team that serves our clients, develops new business, and creates a positive office culture,” Bialik says on his LinkedIn site.
He adds: “In the time that I’ve been the area president, I have focused on recruiting and retaining the best people and advancing them in their careers, which leads to our clients receiving the highest level of service.”
Bialik is area president for the Orange County and San Diego branches.
His team of benefit consultants and professional service teams serves more than 300 local, national and global companies.
“We have two offices with almost 60 employee benefit specialists. Our team is passionate about helping our clients build their human capital management strategy and delivering the best level of service,” he adds.
