When his clients recently faced a tough commercial insurance market, “Our teams were pushed to creatively navigate the cycle to manage operating costs to a palatable level,” Michael Todorovich says. “Our teams delivered value above and beyond what the market was offering.” Outside the office, Todorovich is dedicated to growing Gateway Children’s Charity, a nonprofit that he co-founded in 2009 to support early childhood programs in underserved St. Louis communities.
PROFESSIONAL ACCOMPLISHMENTS & OPPORTUNITIES
What has been your or your company’s most significant success over the last 12 months? Double digit revenue growth, 95 percent client retention, and 95% employee retention.
What has you most excited about the future of your company or industry? The culture of our business continues to evolve in a direction of stronger collaboration and interdependence. Helping us create even more unique and proctored client outcomes and experiences.
If you could change one thing about your industry, what would it be and why? Insurance and benefits markets are cyclical and are dependent on macro dynamics that are uncontrollable (auto insurance dynamics presently, the cost of health care, etc). Often times insurance brokers are delivering solutions to clients where pricing is nonsensical. It would be helpful if our industry trended toward innovation and creation of products to offer when these pricing irregularities persist.
What’s the toughest business challenge you’ve had to overcome (excluding the pandemic) and why? Helping clients fight through the most recent hard market (escalating prices due to macro issues) in the commercial insurance space. Our teams were pushed to creatively navigate the cycle with our clients to manage operating costs to a palatable level. Our teams delivered value above and beyond what the market was offering.
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MENTORS & PEERS
To whom or where do you go for sound business advice? My business partners, mentors, and family. I’m grateful to have been surrounded by great advocates over the years. I cannot overemphasize enough how powerful it is to have great mentors to lean on. I’ve also partnered with a leadership coach for the past decade. An incredible outlet to help perpetuate personal/professional growth.
Do you have a business mentor? If so, who and why? Yes, I’ve had a few very key mentors that have helped me through tough times and through how best to attack opportunities as they presented themselves. An example is Whity Meyer, founder of our St. Louis office a few decades ago. When I was professionally growing up in the Lockton system, Whity helped me navigate and avoid situations that were unproductive to my growth. He helped me stay focused on doing my job. And he ultimately helped remind me along the way why we do what we do—help our teams flourish so that they can deliver unique outcomes for our clients.
What piece of advice has had the most significant impact on your career? Focus on helping others, delivering unique value and not getting distracted by “the win.” Detachment from beating the competition, rather intense focus on helping others always drove business results in a great direction.
If you could have dinner with any two area business leaders, who would you choose and why? Bob Chapman: his relentless focus on people-first. Any other St Louis leader willing to share some wisdom!
Who is the most interesting under-the-radar/emerging business leader in St. Louis and why? Kristi Humes, CEO of Tacony Corp. Kristi is building a strong culture by way of modeling the behavior and work ethic her business needs to drive great results for their customers.
What is one thing you would change about the St. Louis metro area business environment and why? Better connectivity and collaboration to make our businesses a destination choice for talent. We need to work together to make St. Louis a great choice for younger employees seeking a fulfilling career path.
BACKGROUND
Where were you born? St. Louis
What was your childhood aspiration? To go pro in the dozens of sports I fell in love with!
What was your first job, and what did you learn from it? Market-maker assistant at Chicago Board of Trade in 30-year options pit. I quickly learned that having a career focus solely on making $1 turn into many dollars wasn’t the type of value-creation I was interested in. I learned that I needed to be helping people to stay motivated in my career.
What educational degrees do you hold, and where were they earned? BA in Economics from Rollings College and MBA in Finance from Loyola Graduate School of Business.
HOBBIES & INTERESTS
If you were not in your current profession, what would you be doing and why? In any other service-provider role. I’m certain I’ve at least figured out what I’m on this Earth to do professional: help others think differently about their business to ultimately achieve great outcomes. Insurance/benefits just happens to be one platform where there is great opportunity to do so.
What is your favorite St. Louis-area restaurant, and what do you typically order there? Unfair question! We have too many fantastic restaurant in town. Kreis’ steak and Sugo’s spaghetti and meatballs are currently top of my list—I hope my doc isn’t reading this.
What is one item you recently crossed off your bucket list? Visiting the Amalfi Coast with my family. Showing my daughters the beauty of this world has always been a priority for me and my wife. And creating memorable experiences for them is always a place we invest first.
What is one book you think everyone should read (or podcast everyone should listen to) and why? A Long Walk Gone is a book that gave me tons of perspective. And the All In podcast is something I can’t get enough of these days.
What’s your hobby/passion?
- Hobby: Skiing with my family and golf are at the top of the list.
- Passion: Gateway Children’s Charity is a nonprofit I founded with eight others in 2009. My passion is to grow GCC every year.
What is your most prized possession? Helping bring my three amazing daughters into this world and doing my best to not screw them up!
What would people be surprised to learn about you—a fun fact? I seem to be happiest when in the mountains, with the people I love.
What is your go-to karaoke song? “Thunderstruck.” I had a run in my early teens loving hard rock.
