Broker Spotlight of the Month, Matt Culkin

We are pleased to present Matt Culkin, the Assistant Vice President of Sales in our Broker Spotlight this month for PLRisk Specialty. Matt specializes in Professional, Management and Cyber liability insurance as a wholesale broker and works in our Franklin Lakes, New Jersey office. Having held multiple positions within the company, he will be celebrating his 12^th year anniversary with the company this year. It is most appropriate to highlight his career and his contribution both to our company and to the industry.

Matt joined the company as an associate broker after graduating from Marywood University in the Spring of 2012. While at Marywood, Matt played varsity lacrosse for four years and graduated with a degree in Business Administration and a minor in marketing. A mutual connection with the CEO and founder of the company recommended Matt and encouraged him to take the interview. The rest was history. That was Matt’s first experience with the power of networking. “Looking back 15-20 years ago, Insurance is not exactly where I saw myself, but I am incredibly happy that I took the interview and made the most of the opportunity. On the outside insurance is not perceived as a “sexy” profession but one that has brought me a great deal of satisfaction in life and in an industry that has in 12 short years, had to adapt to a lot that the world has thrown at it.”

Matt started on the ground floor as a broker assistant in Axis Insurance Services, LLC in the retail operations, doing what was asked of him and taking every chance to learn from the others in the office. In his first week he worked on a multimillion-dollar proposal which was won by the company. For a short while Matt thought all the accounts were like that. Over time and through conversations with mentors both internally and externally, Matt gradually increased his insurance knowledge and professional network as he took on larger and larger responsibilities as the company expanded. His responsibilities included building his own book of business, reading, and comparing various policy forms and coverages, and in developing retail relationships.

The company launched PLRisk in 2014 as the wholesale division within Axis Insurance Services, LLC. PLRisk needed their first producer and Matt stepped up to the challenge requiring him to change his thought process from a retail insurance producer to a wholesale broker. That transition and the experience gained on the retail side of the business has allowed for Matt to have the ability to understand the challenges and hurdles that retail insurance agents experience while presenting these complex lines of coverage to the policy holders. “It is a challenge getting these clients to understand the risk and why they need the coverages. I understand how those conversations go with clients and I can give our partners all the ammunition that they need to help make the sale and make their client understand the value in what they just purchased.”

In 2021, Matt was promoted from his previous role as Wholesale Insurance Broker to his current role as Assistant Vice President of Sales. In this new role, Matt assists with organizing and coordinating the overall sales goals of the organization in addition to maintaining his own book of business generating over $1M in annual revenues. He helps assist with internal marketing efforts, production benchmarks, product development and staff supervision as well as helping manage carrier relationships. Matt is an invaluable resource within the company for both the younger members of the team as well as the more seasoned employees who often look to him for guidance. He has a great understanding of all the products that we broker, the marketplace, as well as the ability to develop and maintain relationships which are vital to insurance operations.

Matt is also involved in the insurance industry and his community. In 2019 Matt was nominated and recognized as an Emerging Leader by the Insurance Brokers Association of New York (IBANY). This award was based on his commitment to the industry and his recognition by his peers. Matt served as the company coordinator for the company’s charity committee and specifically as the liaison with CUMAC ECHO, a local organization addressing the issue of food dependence. He regularly volunteers and helps distribute food at their local pantry. Matt helped serve Thanksgiving Turkey dinner this year at their Welcome House and even had to jump into Janitor mode when an unforeseen pipe burst. Additionally, Matt has been involved in such organizations as the Professional Insurance Agents Association (PIA), Autism Speaks, Underground Railroad, Shatterproof and a number of other charities. Recently, Matt was elected to the Steering Committee for the Eastern Chapter of the Professional Liability Underwriting Society (PLUS) and attends many industry events. Overall he is a valuable member of the industry that not only takes but gives back.

Mike Smith, President, and CEO said “It has been very rewarding watching Matt’s career develop from a young out of college rookie to the leader he is today. He is a great mentor, leader, and asset to our company. I know Matt can achieve anything he sets his mind to, and I look forward to seeing him as one of our industry’s future leaders.”

Matt lives in Warwick, New York with his wife Lauren and two young daughters, Charlotte, and Amelia as well as his dog Ruben. He enjoys spending time outdoors whether that is snowboarding, golfing, hiking or just showing his daughters where he finds joy in life no matter what the season is. He takes his “girl dad” job very seriously and enjoys every chance he gets to paint nails, play dress up or attend a dance recital.

Other Accomplishments

• Dean’s List
• CSAC All-Academic Team Selection
• 2019 IBANY Emerging Leader Nomination
• 5 Star Professional Liability Broker (2022) by Insurance Business Magazine
• PLUS Member, Future PLUS Member, PLUS Steering Committee Member
• Bachelor of Business Administration, Marketing – Marywood University 2012