Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

 

The Spencer Educational Foundation, a leading nonprofit organization to nurture the next generation of risk management and insurance professionals, will hold its annual Funding Their Future Gala in New York City on Thursday, September 18, 2025. This eagerly awaited event will occur at the renowned Cipriani 42nd Street, uniting industry leaders and supporters to acknowledge achievements in risk management and insurance.

 

This year’s gala recognizes Tim Ryan, U.S. President at Lockton, for championing the next generation of talent and shaping the future of the risk management and insurance industry. Since being named U.S. President in 2024, Tim has been pivotal in positioning Lockton for the future. With over 30 years of industry experience, Tim brings a strategic and enduring approach to leadership. He is committed to fostering a culture of collaboration and excellence that carries Lockton’s momentum forward. Tim’s vision is to build on Lockton’s strong foundation, guiding the company through evolving market demands while maintaining its reputation as the best place to work in insurance.

 

“Tim’s commitment to attracting and developing top talent has been instrumental in Lockton’s continued success and evolution as an industry leader,” stated Julie Gibson, Spencer board member and Chief Marketing Officer at Lockton.

 

In this episode, Justin interviews Tim Ryan on his career, his risk philosophy, his leadership vision on mentorship, and his recognition by the Spencer Educational Foundation.

 

Listen to learn about attracting top, rising talent to the risk management and insurance industry.

 

Key Takeaways:

[:01] About RIMS and RIMScast.

[:14] The call for educational content submissions for RISKWORLD 2026 is open through September 4th! A link is in this episode’s show notes.

[:28] About this episode of RIMScast. We will be joined by Tim Ryan. He is the U.S. President at Lockton and the honoree at this year’s Spencer’s Funding Their Future Gala on September 18th. We’ll get his perspective on leadership and the future of risk management in just a moment.

[1:00 ] RIMS-CRMP Workshops! The next RIMS-CRMP-FED virtual workshop will be held on November 11th and 12th, and led by Joseph Mayo. Links to these courses can be found on the Certification Page of RIMS.org and through this episode’s show notes.

[1:20 ] RIMS Virtual Workshops! RIMS has launched a new course, “Intro to ERM for Senior Leaders.” It will be held again on November 4th and 5th and will be led by Elise Farnham. RIMS members enjoy deep discounts!

[1:37 ] The full schedule of virtual workshops can be found on the RIMS.org/education and RIMS.org/education/online-learning pages. A link is also in this episode’s notes.

[1:48 ] The next RIMS Webinar will be held on September 4th and will be led by AXA XL. It is titled “Lockdown & Level Up: Turn Up Your Cyber Security Game Against Creative Cyber Criminals”.

[2:01 ] On September 18th, Origami Risk will present “Driving Better Incident and Claims Management with Data, Technology & Strategic Collaboration”.

[2:10 ] On October 9th, Global Risk Consultants returns to deliver “Natural Hazards: A Data-Driven Guide to Improving Resilience and Risk Financing Outcomes”.

[2:19 ] On October 16th, Zurich returns to deliver “Jury Dynamics: How Juries Shape Today's Legal Landscape”.

[2:28 ] On October 30th, Swiss Re will present “Parametric Insurance: Providing Financial Certainty in Uncertain Times”.

[2:37 ] On November 6th, Hub will present “Geopolitical Whiplash — Building Resilient Global Risk Programs in an Unstable World”. Register at RIMS.org/Webinars.

[2:49 ] RISKWORLD 2026 will be in Philadelphia, Pennsylvania, from May 3rd through the 6th. RIMS members can now lock in the 2025 rate for a full conference pass to RISKWORLD 2026 when registering by September 30th.

[3:04 ] This also lets you enjoy earlier access to the RISKWORLD hotel block. Register by September 30th, and you will also be entered to win a $500 raffle. Don’t miss out on this chance to plan and score some extra perks.

[3:17 ] The members-only registration link is in this episode’s show notes. If you are not yet a member, this is the time to join us. Visit RIMS.org/membership and build your risk network with us here at RIMS.

[3:31 ] On with the show! On September 18th, 2025, the Spencer Educational Foundation will hold its annual Funding Their Future Gala in New York City at the renowned Cipriani 42nd Street.

[3:44 ] This year’s Gala recognizes Tim Ryan, U.S. President at Lockton, for championing the next generation of talent and shaping the future of risk management and insurance.

[3:54 ] Tim Ryan is our guest today. He has over 30 years of industry experience. We’re going to dive into his philosophies on leadership and what it takes for the next generation of risk professionals to be successful in the short and long term. Let’s get to it!

[4:11 ] Interview! Tim Ryan, welcome to RIMScast!

[4:32 ] Tim Ryan is excited to be here today to talk about the Spencer Educational Foundation! He says it’s an exceptional organization, doing important work. It’s a unique organization that brings the entire industry together to rally around an issue that’s important to us all.

[4:52 ] Tim says the recognition is humbling and gratifying. It’s nice to be recognized, but he doesn’t view it as a personal achievement. He sees it as a reflection of the incredible work being done by Lockton and Associates throughout the country, more than it is of his individual efforts.

[5:14 ] Tim says he is honored to be recognized, and he’s proud to be part of a company that sees this as a priority.

[5:26 ] Tim has been at Lockton for 20 years. Before Lockton, Tim worked on the carrier side for 10 years. Tim became the U.S. President at Lockton almost a year ago to the day. 

[5:49 ] Tim’s leadership style has changed over time, through the wisdom of maturity and a lot of trial and error. He started in the industry straight out of college. Working at a couple of different organizations exposed him to different leaders along the way.

[6:10 ] Tim learned a few foundational lessons. First, leadership is rarely about title. People follow people, not the position. When Tim was first made a team leader, he was excited to be in charge. He promised himself he wouldn’t make the same mistakes his managers had made.

[6:37 ] He made the same mistakes. He started to realize that a leadership position isn’t about you. Your job is to set the vision, align stakeholders, make sure there’s clarity on roles and responsibilities, and create and foster an environment that allows people to be successful.

[6:58 ] Tim’s leadership style is about building teams with complementary skill sets. It’s not about being the smartest person in the room; it’s about making sure the room is filled with smart and motivated people.

[7:08 ] Put the right people in the right place and trust them to get the job done. People want to believe in what they’re doing and who they’re doing it with. It’s critical to bring together people with a diversity of thought and background. Bring a variety of different viewpoints to the table.

[7:28 ] Tim believes it’s critical to get to know your people. What motivates and drives them? What are their goals and aspirations? How do they like to absorb information?

[7:55 ] Tim views it as his job to listen, to motivate, and to remove obstacles. It’s about being authentic. Don’t play the role, especially for first-time leaders. You have to be open and transparent, and true to yourself.

[8:32 ] Tim says the role of the broker has changed with the world. If brokers did the same things they did 10 to 15 years ago, they would be at risk of being obsolete.

[8:44 ] Fifteen years ago, there was no Instagram or TikT