Friday, May 20, 2016

Senior Project Day 15

Today was my day at Drew. I checked in with Mrs. Ferrara and she and I discussed my project. She was happy with my product but told me that I should incorporate a few slides about my internship in my powerpoint, as before my powerpoint was solely about my product. I spent a few hours at Drew after that working on my 1-pager and editing my product.

Hours worked: 2.5

Thursday, May 19, 2016

Senior Project Day 14

5/19/16


Today was my last day at Barney & Barney, and I am kind of sad to be leaving, but also school and check in with my friends and teachers. I finished up my client research today and connected with some of my coworkers on LinkedIn. I spent most of my work day finishing the rough draft of my packet. Its about 7 pages and I am very happy with it. It is too long to be a pamphlet so I will now be referring to it as a packet. Everyone was very nice and all said goodbye when I left. I am happy that I spent my time at Barney & Barney and feel like I have learned a lot about insurance and life in the workplace. I sent my sponsor a thank you note when I got home.


Hours worked: 7

Wednesday, May 18, 2016

Senior Project Day 13

5/18/16


Today I spent the first half of my day finishing up my powerpoint presentation and adding images. It was nice to see all my research come together in a cohesive manner. Although I have not started on my pamphlet yet, I think this presentation will smoothly transfer over to the pamphlet and I will only have to fine tune the format and add small details. I spent the rest of the day doing prospective client research.


Hours worked: 7



Senior Project Day 12

5/17/16


Today my sponsor was in the Walnut Creek office, so he gave me permission to work on my senior project all day. I signed up for a time slot on Friday, and then began working on my powerpoint. I have decided to make my powerpoint about what I will be including in my pamphlet, so it will be kind of a verbal overview of my actual product. I am happy to see that most of my research has a place in my powerpoint and that I have enough of it to talk for roughly 10 minutes. I created my outline and individual slides. I put down what information I want to include on my slides and feel like I have organized it in a way that makes sense. I am mostly just taking the information from my research and putting it on the specific slides where I feel it would make sense.


Hours worked: 7

Tuesday, May 17, 2016

Senior Project Day 11

5/16/16


Today I began working from the San Francisco office again, and I will be here until my internship ends on Thursday. Originally, I was going to take a half day on Friday but Barney & Barney was nice enough to let me take the whole day off. I will still have all of my hours completed, though. Today I went to work and continued researching clients for my sponsor using their client database, salesforce, and LinkedIn. During the middle of the day, a few coworkers and I went to a lunch benefit hosted by the Children's Counsel, who is a client of Barney & Barney's. It turns out that people from Barney & Barney attend a fair few of these events as they work with quite a few nonprofit organizations. It was interesting to see how my coworkers interacted and networked with other businesspeople. When we got back from the event, I continued with my client research until I left for the day.


Hours worked: 7

Sunday, May 15, 2016

Senior Project Day 10

5/13/16

Today I spent the first part of my day organizing the conference room. I spent the rest of the day manning the front desk by myself, and doing some online work for my SF Barney & Barney sponsor. Things ran pretty smoothly today, and the office ordered a lot of chipotle for lunch, which was awesome. When I got home I began organizing my research so that I can easily access it when I begin putting together my final product.




Hours worked: 8

Thursday, May 12, 2016

Senior Project Day 9

5/12/16

Today I started my day by rearranging the kitchen for a little bit, and then sitting at the front desk by myself. It was a little uncomfortable because I am at the forefront of the office for visitors and I am the first Barney & Barney voice people hear when they call. Through some trial and error I managed the phones, emails, mail, and faxes pretty well. During lunch, one of the office members who is on maternity leave sent over ice cream sandwiches, which were a nice pick-me-up and very delicious.
When I got home I did some research on teen marketability, and I found some advice that is similar to a lot of the advice that the office workers have been giving me, so it is nice to know that this advice really works.

Hours worked: 8.5

Senior Project Day 8

9/11/16

Today I finished organizing the supply room and many people have dropped in to tell me how happy they are that they will be able to find things again. I spent the second half of my day running the front desk, sometimes with my sponsor and sometimes without. It was a little overwhelming to be swarmed with calls from clients or insurance agencies and have to quickly figure out which of the three data bases I had to look the client up in and then transfer them to their servicer. Some people were nice and understanding on the phones, while some people were very hard to understand and were less forgiving. Luckily, my sponsor was near to help out when I was stuck with an issue, though I am slowly learning how to navigate this system myself. 

Hours worked: 7

Senior Project Day 7

5/10/16

Today I spent most of my day organizing the supply room. It is nearly done being organized and looks much better than it did before. I spent the rest of my day being taught how to answer the phones and transfer calls. I even answered a few calls myself. I also went down to the mail room and sorted mail for the company. My sponsor in the Walnut Creek office is training me to eventually be able to man the front desk on my own, and how to set up meetings, do mail duty, and help others in the office.

Hours worked: 7

Senior Project Day 6

5/9/16

 I worked in the Barney & Barney Walnut Creek office today, and I will be working there for the rest of this week. When I first got there, I was shown around the office and introduced to many people. The Walnut Creek office is bigger than the San Fransisco office though, so there were still many people who I have not met. While my job in the San Fransisco office is more research based, my role in Walnut Creek will be more administrative. I spent most of the day in the supply room, learning how to use and clean the many machines in there. I also began restocking and organizing their supply room, because it was a huge mess.

Hours worked: 7

Sunday, May 8, 2016

Senior Project Day 5

5/6/16

I met with another of Barney & Barney's quote providing insurance companies. This company specialized in insuring cargo and the transportation of said cargo. We talked for a few hours about how cargo insurance was very specialized and the intricacies of working with moving valuables and then I did research on cargo insurance and maritime practices. Like the other insurance company, this company had to evaluate all the risks of transporting the cargo and figure out if it could hopefully be profitable to insure the cargo. Again, the people who worked at the company were happy to give me useful advice for my final project.

Hours worked: 7

Senior Project Day 4

5/5/16

Barney & Barney sent me to one of the insurance companies that they work with and get quotes from for clients. Underwriters with different specialties came in and talked to me. People who specialize in risk engineering, life sciences, technology, directors and officers, and general liabilities all came in and told me in depth about what they did. It was interesting to listen to all these people because they all had to anticipate everything that could possibly go wrong with the companies and their products that they were insuring. They then had to figure out if their company could take on that much risk and weigh the benefits versus the potential consequences of providing an insurance quote for that company. I enjoyed hearing about the different types of insurance from the company itself and I definitely learned more about the insurance industry. The people who worked there were also happy to give me advice on my final product based on their own life experiences.

Hours worked: 7

Wednesday, May 4, 2016

Senior Project Day 3

5/4/16

 Today I spent my entire day doing prospective client research for Barney & Barney. I would look through their company's website to see if they were a current client, and look through Salesforce to see if someone else in the company was after that company's account. If no one else was going after that account, I would look up the company of LinkedIn and find out the size of the company, what exactly that company did, whether they were public or private, and whether their products were going through clinical trials. I would also look up important personnel at the company to reach out to and make connections with. I researched about 40 prospective clients today using research skills taught to me by Barney & Barney.

Hours worked: 7

Tuesday, May 3, 2016

Senior Project Day 2

5/3/16

 I was in and out of the office today, as Kevin and I met with two different clients. Both of these clients are creating and developing products that have never been invented or put on the market before. Because these products and companies are relatively new, both companies need their entire staffs, products, board of directors, and manufacturers insured. It is Kevin and his team's job to make sure that everything the company makes and everyone who is employed is ensured and the company is safe from lawsuits. Kevin walked the companies through what he would do as their insurance broker and how he would find them the broadest coverage for the best price. It was interesting to see him pitch himself and his company to clients and potential clients. Although there was a lot that I couldn't understand during the meetings, there was a lot that I have learned over the last few days.

Hours worked: 7

Monday, May 2, 2016

Senior Project Day 1

5/2/16

 Today was my first day of senior project, and I started my internship at Barney & Barney today. Barney and Barney is a part of Marsh & McLennan Agencies and they broker insurance for midsize to large companies. I learned so much from the job today. I spent a few hours talking with my supervisor Kevin about the history of Barney & Barney and what exactly they did. Below is a picture of my notes during this time. Barney & Barney covers two types of insurance within companies: health benefits and property and casualty. Health benefits covers the insurance of employees and what types of medical insurance they are entitled to. Property and casualty deals with the companies land and facilities, and what would happen if an employee got into an accident that the company could be liable for or if someone or someones property gets damaged with the companies property or personnel. I spent some time touring the office and getting to know everyone before I was taught how to use Salesforce and LinkedIn to research companies and whether Barney & Barney should try to approach them as clients.
While discussing my senior project and the goals of my independent research, my coworkers were interested in the project and told me that they would think of ideas about what would make them want to hire younger workers. When I asked him if he had any suggestions, Kevin immediately suggested LinkedIn, because it is an easy and professional way of connecting with future bosses and colleagues to prove that you are dedicated to being professional. It is also free to use. I have already created my own LinkedIn account, and although I don't have any connections yet, Kevin said he would be happy to connect with me.



Hours worked: 7

Tuesday, April 26, 2016

7th Post- Career Paths

Marsh & McLennan will offer a lot of experience in the business world. The Marsh & McLennan internship offers exposure to the insurance industry through learning and observing. Their sales department will take advantage of the internship program by having the interns do research on potential clients using LinkedIn and Salesforce. The internship program will also be assisting the Marsh & McLennan administrative staff by helping out with clerical and administrative tasks around the office.
The internship at Marsh & McLennan will offer an in-depth sample about the kind of insurance and risk-management work they do. The internship sponsor and leader will allow the interns accompany him to two extremely large and key insurance companies that are essential to Marsh & McLennan running smoothly. The interns will also be attending client meetings and events with the sponsor to see how events are run in the corporate world. Experience at a large and reputable insurance and risk-management firm like Marsh & McLennan will be invaluable to the interns and people involved in the internship program. Working at Marsh & McLennan will look very good on a resume, which will help the interns with future employment options. It will also give the interns some exposure to the insurance industry and see if that is something they want to pursue in their careers.
I am planning on studying agricultural business in college next year, so this internship could be a nice doorway and trial to see if I would want to work in agricultural insurance. To work in agricultural insurance, one must know a lot about the earth and its geography and science, and how that can affect farms or forests. One must also have a lot of knowledge about the insurance and risk management industries. By merging these two, I could have a very interesting and important career doing something I potentially love.

Tuesday, April 19, 2016

Essential Question

How do the various components of a financial management company function cohesively in order to service their clients?

6th Post- Associated Controversies

When a large business like Marsh & McLennan has been open for over 100 years, it’s hard to keep a perfect track record. Within the last few decades, Marsh & McLennan has only had one large controversy, which happened in 2004 with Attorney General Anthony Spitzer. Attorney General Spitzer had been targeting the mutual fund industry for unlawful practices, but once he started focusing on fraud in the insurance industry, h e announced that he had “found widespread wrongdoing”, and Marsh & McLennan was named as one of these “wrongdoing” companies.
Marsh & McLennan was accused of “civil fraud allegations that it steered business to insurance companies in exchange for lucrative payoffs”. They were also accused of “fraud, securities fraud, and antitrust violations, and common law claims for fraud and unjust enrichment”. Marsh & McLennan agreed with Attorney General Spitzer to pay a settlement of $850 million over from 2005 to 2009 to “clients nationwide who were allegedly harmed or misled by Marsh's actions”.  By spreading these payments out, Marsh & McLennan did not have to borrow any money nor did they suffer any financial setbacks in their business doings.
Though Marsh & McLennan did not admit guilt for misleading their customers, they apologized that members of their company “unlawfully deceived their customers”. According to the Chicago Tribune, “The apology was included in the New York attorney general's news release but not in Marsh's. Because the apology is limited to a few people at the company, it does not constitute a formal admission of corporate guilt, Marsh officials said. That distinction will limit future litigation, analysts said”. This was a smart move of Marsh & McLennan, as it ensures that their entire company will not be blamed for the wrongdoing of a supposed few.

Sebok, Anthony J. "Spitzer's Controversial Insurance Lawsuit." CNN. CNN, 1 Nov. 2004. Web. 
"Marsh & McLennan to Pay $850 Million in Settlement." Tribunedigital-chicagotribune. Chicago Tribune, 01 Feb. 2005. Web. 19 Apr. 2016. 

Monday, April 18, 2016

5th Blog Post- Global Perspective

As an insurance and risk management company, Marsh & McLennan’s modus operandi is being globally aware of their impact on the earth. In fact, on their homepage they advertise their awareness by saying: “we recognize complex risks are increasingly interconnected, with the potential to accelerate as they grow”. Marsh & McLennan even publish global risk reports, with the latest one and 11th issue being published in 2016. In these reports, Marsh & McLennan studies “disruptive shifts in technology, geopolitics, societal expectations, and economic patterns are creating instabilities that are directly impacting events in the world today” in order to make a positive global impact on the world.
Marsh & McLennan use “quantitative analysis of historical data” and use statistics from the World Economic Forum in Geneva to analyze data to be an efficient risk insurance and calculation company. They study the likelihood of ‘disasters’ and the impact that those ‘disasters’ would have on the world. The word ‘disasters’ in this context refers to any kind of man-made or natural catastrophes, from “large scale involuntary migration” or “asset bubbles”. These ‘disasters’ are put into five categories: economic, environmental, geopolitical, societal, and technological. Using this data, Marsh & McLennan can create the best risk insurance policies they can.
Marsh & McLennan have access to tons of data about the world, but perhaps what is one of the most interesting statistics they have access to is “a regional perspective...of global risks”. This means that they know what risks each regional area is “most likely” susceptible to. For example, North America is at a higher risk for cyber attacks, data fraud or theft, and extreme weather events. Sub-Saharan Africa, however, is more susceptible to failure of national governance, unemployment or underemployment, and failure of critical infrastructure. Throughout the world, the most common risks are: failure of national governance, extreme weather events, and the most common risk is unemployment or underemployment. Interestingly, the only place on earth where large risks are technological is in North America.


Strategic Partner Of The Global Risks Report 2016. (2016): 1-103. The Global Risks Report, 2016. World Economic Forum, 2016. Web. <https://www.mmc.com/content/dam/mmc-web/Global-Risk-Center/Files/world-economic-forum-global-risk-report-2016.pdf>.
"Global and Emerging Risks." Marsh & McLennan Companies. N.p., n.d. Web. 19 Apr. 2016. <https://www.mmc.com/global-risk-center/overview/grc-global-and-emerging-risks.html>.




Tuesday, April 12, 2016

4th Blog Post- Relevant Points of Interest throughout History

Throughout the 145 years that Marsh & McLennan Companies have been running, they have been involved in and inspired by events in history. In fact, Marsh & McLennan Companies would not even exist without the 1971 Great Chicago Fire. Many properties and companies lost everything in the fire, and had no way of receiving compensation for their lost properties and homes. Marsh & McLennan Companies, then named the Dan H. Bomar Company, capitalized on this opportunity and began a new business venture entitled “risk management”. The Dan H. Bomar Company was a success, taking the business of Northern Pacific and Great Northern Railroads and becoming the world’s largest insurance broker.
Marsh & McLennan Companies braved the Great Depression, and managed not to let any of their workers go. The company left the 1930’s strong, and began working “government defense programs and serve[d] as a resource for clients involved in large defense projects” during World War II in 1945. After the war, Marsh & McLennan Companies focused on “increasing consumer credit” and creating contracts with the newly booming automobile industry. The newly-created automobile industry was full of unprecedented risks, and Marsh & McLennan Companies tried to predict these risks and protect the companies and people involved. Marsh & McLennan Companies also “develope[d] insurance products for home appliances, cars, and the banks that help[ed] to fund Americans’ new purchases”.
The most tragic event in history that Marsh & McLennan Companies have ever been involved in were the terrorist attacks on 9/11. Marsh & McLennan Companies had eight floors of business in the North Tower of the World Trade Center. When the hijacked flight flew into the World Trade Center, Marsh & McLennan offices were directly hit, killing everyone inside. 295 workers and 63 business associates were instantly killed in their offices. It is without a doubt the darkest day in company history. Marsh & McLennan Companies says that: “The profound loss of [their] colleagues will always be a part of the Company’s history”.



Source:

"MMC At A Glance." MMC At A Glance (n.d.): 1-20. Marsh and McLennan Companies. Web. <https://www.mmc.com/content/dam/mmc-web/Files/MMC%20At%20A%20Glance%20Brochure_V47_for%20web%20viewing.pdf>.

Tuesday, March 8, 2016

3rd Post

Why I have chosen to intern at Marsh & McLennan

I have chosen to intern with Marsh & McLennan because I have always been interested in business, and wanted to gain some exposure to the work world to see if that is the career I want to pursue. I enjoy organized work with a team in order to produce a specific product or solve a problem, and I know that there are many jobs in the work force with big businesses that are dedicated to doing just that. I want to have a secure and stable job that lets me live a comfortable life and where I can bond and work with my colleagues without too much spontaneity. I feel I work best with a specific amount of skills that I can continuously apply to problems, as opposed to a job where things are constantly changing or are unstable. While interning at Marsh & McLennan, I can have an inside look into the mechanics of the workplace and potentially narrow down the types of jobs that I would like to pursue in college. Outside of working with Marsh & McLennan for my senior project, I am also actively seeking jobs outside of school to see if working in business is my passion.

Wednesday, March 2, 2016

2nd post

3/1/16

My internship with Marsh & McLennan has just been confirmed, and I am currently trading correspondence with my supervisor at the firm in regards to scheduling and what exactly I will be doing. I hope that once I get a more solid idea of what I will be doing at Marsh & McLennan then I will be able to create an essential question and public purpose. Marsh & McLennan is a risk management and insurance brokering business, so maybe my public purpose could be a pamphlet about how to financially manage yourself as a teen or college student. 

1st post

3/1/16


For my senior project I want to be an intern at a large company because I want to get experience in the business world. I am not sure what exactly my essential question or public purpose of my project will be but I hope that when I secure an internship I will be able to properly brainstorm ideas. I would like my public purpose to be something that would help high school students gain corporate experience. Maybe something to help them with the interview process or something to help kids find high schooler friendly businesses.