Builders Mutual CEO reviews first year
Raleigh, N.C. (July 26, 2022) – Builders Mutual, one of the Mid-Atlantic and Southeast’s leading writers of commercial insurance for the construction industry, recognizes the one-year anniversary of CEO Mike Gerber, as the company looks back on how they effectively managed through volatility and set a strategic foundation for sustained success.
Gerber joined Builders Mutual 25 years ago and has led and/or worked with nearly every department, gaining a genuine appreciation for the value contributed by each role. “Because we planned so well for the CEO transition, the first year seemed fairly predictable. I was completely aligned with the strategy, so it wasn’t so much a learning experience as much as an evolution,” says Gerber. “But when I look back and realize some of the challenges we ultimately faced and how much we truly accomplished—it was certainly not business as usual.”
Shortly after Gerber took on the CEO role, the great resignation hit, and Builders Mutual felt the impact. While working to effectively handle this extraordinary market condition, the company was also building a new leadership team with an emphasis on cohesiveness and diversity, so there was a top-down focus on retaining existing talent and recruiting new teammates in innovative ways. According to Gerber, “While we’ve made strides in our history to diversify our workforce, we haven’t really evolved to where we need to be. So, I wanted to send a message about how important it is to me that we enhance our workforce diversity and promote career opportunities—not just jobs.”
A huge IT overhaul is another focus area for Gerber and team in the efforts to establish a foundation for future success. Although cutting-edge technology is not a market differentiator for Builders Mutual, it does enable the business to optimize day-to-day functions, so leadership wanted to ensure every business function helps drive the process. “It’s not an upgrade for upgrade’s sake,” Gerber explains, “but rather a future-focused strategy to build our capacity to better run operations, grow business, and improve data.”
Because Builders Mutual focuses solely on insurance for construction, being the industry experts is part of their DNA. And living up to that moniker takes consistency, persistence, and a desire to always improve. During Gerber’s first year as CEO, the leadership team renewed this commitment through its long-term strategic plan, putting actions in place so every employee has the tools they need to be an expert in their distinct job function.
“Regardless of a person’s role in the company, we’ve all got to give evidence that we are experts,” Gerber says. “It’s how we differentiate ourselves in the marketplace.”
Builders Mutual certainly had the opportunity to prove itself over the past two years. When the pandemic hit, the company was able to deliver industry-specific solutions to the extraordinary challenges. They quickly pulled together Covid-specific job-site training, provided solutions to keep essential workers safe, equipped businesses to weather the financial storms, and ensured that their agents, partners, and policyholders knew how valued they are. Then, as challenges continued to arise over the past 12 months, Gerber and his leadership team faced each of them with the confidence of, well, experts.
About Builders Mutual: Headquartered in North Carolina, Builders Mutual is one of the Mid-Atlantic and Southeast’s leading writers of commercial insurance for the construction industry. Since its inception, Builders Mutual has broadened its territory beyond North Carolina to include the District of Columbia, Florida, Georgia, Maryland, Mississippi, South Carolina, Tennessee, and Virginia. The company provides coverage to more than 28,000 policyholders through more than 5,000 sales agents and employs more than 400 staff at its Raleigh headquarters.