Lynne Rosenberg has more than 30 years of management experience, starting her career at The Travelers Cos. She then joined the Los Angeles branch of Transamerica Corp., where she was brokerage manager and later became the branch manager, combining the L.A./Valley office into one large brokerage agency.

Since founding Innovative Solutions Insurance Services in 1997, Rosenberg has grown her firm into one of the top insurance brokerage general agencies in Los Angeles.

Rosenberg earned a degree from Occidental College in Los Angeles. She has established scholarships at Chadwick School, Tufts University and Occidental College supporting first-generation college students.

She spoke with the Business Journal about the insurance industry and advice for women who want to start their own businesses.

What made you decide to go into the industry you’re in now? What have you learned about it?

I wanted to be a financial planner. In 1985 after college and a great work experience with a Shearson stockbroker, I was told by many firms that I needed to start as a sales assistant. As a woman, it was very difficult to enter that industry. The insurance industry was highlighting the role of life insurance as a part of financial planning, and correctly so. I pivoted and was hired. I learned that as a woman you get your training with a big company, but you ultimately have to go out on your own. I was fortunate to be able to do that after 10 years at Travelers and Transamerica. I love the insurance industry. But it is still tough as a woman.

What is the number one piece of advice you’d give to women who want to start or operate their own businesses?

Find a mentor. Join a business owners group. Vistage is excellent. For bigger firms, the Young Presidents’ Organization (YPO) is fantastic. Both of these organizations helped me tremendously. YPO still does. Having your own business is difficult for anyone – male or female. Identify your strengths and embrace them. Hire people whose strengths are your weaknesses. Don’t try and do everything yourself. Don’t apologize for who you are.   

What have you done this past year to ensure that your business is a leader in its industry?

We have to change constantly. When you get complacent, the world passes you by. We have added the B-to-C component to complement our existing B-to-B production. The B-to-C market requires completely different skill sets. 

What steps do you take to build community and a positive work culture within your business?

I have always believed and treated my team as family. At our largest, we were 40 people. Now we are 15. I am transparent with my team.  For example, I share financials. I try and think about what is happening in their lives. Honestly, I could do better. Being remote has made connecting more challenging. But my team always knows I have their backs.

What aspects of operating your business do you find the most challenging? Conversely, which aspects have been the most rewarding?

The most challenging aspect of running a business is always looking for ways to grow. It can be exhausting! My head seems to be spinning all the time. On the other hand, looking for ways to grow is fun. I am not at the mercy of a major corporation. I can make decisions and act, that is empowering and thrilling. For example, my day-to-day duties are now completely different than they were two years ago. I spend my time interacting directly with the consumer and helping them with their financial security. It is an honor.

Has being a woman in your industry provided you with a different or unique perspective over the years?

Being a woman in the insurance industry has been an advantage. Women understand why life insurance and long-term care are so important. These products provide security, choices, time and flexibility. For years I thought I had to act like a man to succeed in the industry. That is simply not true. As I said earlier, take who you are and run with you. That perspective is what has changed in me over the years.

Who has inspired you throughout your business journey, and what is the most important thing you’ve learned from them?

Early in my career, I had the best mentor/boss. He and I were a fantastic team.  When he retired, he made certain I got his position. I owe a lot to him. In recent years, my friends, both professionally and personally, have inspired me. They know me. As a leader and business owner you are your own worst critic. To have people that you can call and run ideas by or simply vent to is invaluable. My community has helped me climb a lot of mountains. You cannot succeed alone – it does take a village.

What’s next for you and your company?

I am so excited that my two sons are leaders in the company. They are a wonderful team. I have begun transitioning the company leadership to them. I am not ready to retire yet. My next chapter will be focused on working directly with the consumer, rather than the agent. Helping people plan their financial stability brings me joy and meaning. Innovative will continue to assist producers with their clients by staying committed to transparency and integrity.