Barry joined Hausmann Group in 2010 and was later named President in 2014. During his time as President, the agency has been named on the lists of 10 Best Workplaces in Insurance (2015), 50 Best Workplaces for Giving Back (2016), and Best Small Workplaces (2016, 2017, 2018, 2019 and 2020) by Fortune. Prior to joining Hausmann Group, Barry gained insurance industry experience as a commercial agent after concluding a long career playing professional hockey.
Barry is a graduate of the University of Wisconsin–Madison School of Business, and holds a BBA in Marketing. He played hockey for the Badgers during that time, went on to represent Team USA in the 1994 Olympic Games, and played professionally for 15 years. He sits on the American Family Children’s Hospital’s advisory board and is co-chair of the Benefit Advisors Network’s board of directors. Additionally, he and his father run a golf outing each year for Easter Seals and have raised over $1,000,000 for the children at Camp Wawbeek.
Barry enjoys fishing, golfing, and going up north with his family. He and his wife Kim have 4 children and reside in Verona, WI.
What is your background and how did you get into this line of work?
I was a marketing major from the University of Wisconsin that had an opportunity to play professional hockey for 15 years in the NHL, AHL and overseas in Sweden and Switzerland. I stopped playing in 2008 and had to get a “real job” as my dad said. This was during the recession (fun times) and the only company that was hiring was a small P&C agency where I knew the owner. In 2010, I proceeded to move over to a larger agency that had both EB and P&C and started to consult on both, with the help of awesome account managers that made me look good. Later on I became President in 2014.
What are your leadership principles?
There are too many to list as I have learned from many great leaders and coaches over the years. Principles that really stick out to me are: Lead by example as everyone is watching what you do and how you do it. Communication needs to be at a high level to be an effective leader. You must continually improve yourself as what worked 2 years ago may not work today. Be humble and work hard. Listen actively. Make sure you appreciate the individuals around you that keep the lights on in your agency.
Why are you passionate about BAN? What value has it brought you/your business?
I have made great relationships over the years with other independent agencies around the nation. Everyone is eager to help each other and collaborate for the greater good. If we are stuck with a situation, we reach out to our reps at BAN and they guide and connect us with other members that have the knowledge to help.
With ongoing inflation, higher interest rates, and a shaky economy, are you worried about the economy? If so, are you taking steps to prepare for a recession?
It seems that with the latest data, the risk is diminishing of the economy heading into a recession. Inflation has edged lower in recent months, which is good news, but we are cautious as an agency. I don’t think we are out of the woods yet and there are still problems (localized) out there that are lurking in the weeds.
What are the industry’s biggest challenges?
I am not as active as I use to be in consulting with our clients, but it seems that the Rx landscape has dramatically changed over the years. The loss ratio for Rx was usually around 10-15% of the total premium for employer groups and now that number has grown to 20-25%. This ties into how the yearly increases for our clients are not sustainable and we all have to be creative and educated enough to offer up calming solutions. This is where BAN can help.
What are one or two lessons you’ve learned that you can share with the younger generations?
Always be learning and try and be the best version of yourself professionally and personally. Ask for honest feedback on how others see you and how to improve. Add some grit and this will take you a long way. Not sure if this is two or three lessons, but that is what you get when you use Chat GPT.
Barry can be reached at brichter@myhaus.com or (608) 257-3795.