IN-the-Know

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IN the Know is your podcast connection to the top innovators, strategists, storytellers, thought leaders, movers, shakers, and go-getters in the risk management and insurance community. Along with host Chris Hampshire —an insurance industry veteran, CPCU designation holder, and a CPCU Society volunteer leader— you'll get an INside, UNSCRIPTED look at how they got here, where they’re going, and how YOU can benefit from their experience and INsight.

The Institutes CPCU Society

May 7, 2025 LATEST EPISODE
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Latest episodes from IN-the-Know

Why Do Change Leadership Initiatives Fail at an Alarming Rate? With Grace Judson

Play Episode Listen Later Mar 18, 2021 27:48

Grace Judson is a leadership geek and has over 25 years of experience in the corporate world. Passionate about neuroscience, Grace found her calling when she was just two years old, and always knew she wanted people to just stop and see each other. Today, Grace shares how we can introduce better change leadership initiatives into an organization and actually see it through completion. Key Takeaways How did Grace get her start at the age of two? How did Grace get into software development and how did this journey lead her to insurance? When it comes to leadership, Grace wanted to know what made someone really excel in this area. Change leadership is not as well taught or understood in a lot of organizations. How can you leverage neuroscience to help everyone in an organization get on the same page? There are tools for us to understand our reptilian brain and get us doing good work without resistance. Grace shares a tool that helps people get out of an emotionally reactive state. People aren't going to respond well if you just tell them, “This is your job. Get over it.” When does it make sense to become a professional speaker? Grace is passionate about making the workplace more fun and she shares what the three principles of work are. What permission are your words and your actions giving to other people? No matter what, people are watching. Grace shares her thoughts on what the impact of the pandemic will be and how leadership roles will be shifting. Grace's change leadership program was developed before the pandemic, and the timing couldn't have been better. What does Grace wish she'd known earlier about her career? Keep Getting Better Axcoinfo.com Dan on LinkedIn Quotes “Change leadership and change management are two different things. They're both necessary, but neither are sufficient on their own.” “Without the people aspect, which does include neuroscience, without that, change initiatives fail at an alarming rate.” “How we show up as leaders, we're setting an example for people who you may not even realize are watching us.”

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Where Does the Insurance Industry Fall Short When It Comes to Diversity and Inclusion? With Megan Stewart Hodge

Play Episode Listen Later Apr 14, 2021 32:26

Megan Stewart Hodge is an executive, public speaker, and advocate for diversity, equity & inclusion. She strives for whole-person success in her interwoven career and personal journey, prioritizing authenticity in life and as a leader in the insurance industry. Megan is also the Founder of Cultiver LLC, an advisory practice focused on fostering cultures of inclusion. She shares how the insurance industry can become more inclusive for a wide set of diverse individuals in this week's episode! Key Takeaways A little bit about Megan and why she started Cultiver. Megan explains a time where she was able to see everyone show up in an organization as their full authentic selves. It was amazing. There was so much innovation. A lot of organizations haven't done the work necessary to make a culture inclusive. You have diverse talent, but now it's time for promotions. Now what? So many people don't feel like corporate America has a role for someone that looks like them. How has COVID-19 impacted diversity in the workplace? We need to recognize the challenges people of color are experiencing every day, not sweep them under the rug. As an employee, how can you protect and nurture your wellbeing? It's so important to give people some grace. Everyone has been overwhelmed. Keep continuing the empathy for the people on your team. How can companies get better and be more supportive towards their employees' well-being? Our old way of working wasn't perfect, but we have an opportunity right now to be better. Burnout is very real and boundaries need to be established. Keep Getting Better Cultiveradvisors.com Megan on LinkedIn Quotes “At some point, if you put your head down and assimilate, you look in the mirror one day and you don't recognize yourself. You don't hear your own voice, and that's when you lose people from the workforce.” “Diverse hires don't feel supported. They don't feel like they have a voice or a career path that's sustainable.” “Give ourselves grace. There are still a lot of circumstances that haven't changed.”

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What Is the Blockchain and How Can the Insurance Industry Use It? With Christopher McDaniel

Play Episode Listen Later Apr 28, 2021 31:54

Christopher McDaniel is the President of the RiskStream Collaborative, the first global cross-insurance sector consortium focused on innovation in the insurance space. Christopher shares his thoughts on the future, why blockchain will be an essential part of the insurance industry, and why now is the time to act on, and learn, these new technologies if you want to gain a competitive edge. Key Takeaways A little bit of Christopher and how he found himself in this field. How does blockchain work? How has blockchain evolved from when it first got started to where it is today? GDPR and blockchain? There might be some conflicts happening. Fast-forward to the future, how will blockchain be used in the insurance industry? The insurance industry has a talent gap. Can AI and blockchain help fill some of these needs or at least upskill more people? AI will help more professionals shift into new roles, and it will be able to automate some tedious ones. For example, underwriting. Christopher shares some of the biggest challenges we're facing in the industry right now and how they will affect our ability to perform our work in the future. Don't wait to see how “things go.” Take action now or else you'll be at a competitive disadvantage. This is not just about learning new technologies, it's about keeping up-to-date with the latest in the insurance landscape. What does Christopher wish he'd learned sooner? Keep Getting Better Web.theinstitutes.org/riskstream-collaborative Christopher on LinkedIn Quotes “Blockchain allows for the sharing of information in a very secured way.” “The biggest challenge now is to just get folks comfortable with these new technologies.” “If you sit on the sidelines and wait until everybody does this, you're not just going to be playing catch up in four to five years, you're going to be at a competitive disadvantage.”

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What's Going on With the Medicare Secondary Payer Act? With Heather Schwartz Sanderson

Play Episode Listen Later May 12, 2021 26:02

Heather Schwartz Sanderson, Esq, is the Founder of Sanderson Firm PLLC, a law firm committed to providing comprehensive compliance solutions to the Medicare Secondary Payer Act (MSP). Aside from being a lawyer, Heather is a passionate writer and works in this space heavily to make sure she is part of future reforms in the legislature so that she can better help and serve her clients. In this week's episode, Heather discusses where this industry is headed, why it's important to be part of politics, and why there's still a huge need for lawyers in this sector. Key Takeaways A little bit Heather and how she got into the medicare secondary payer space. What is MSP and how does it work? Heather shares why she made the leap from corporate to develop her own firm. Heather has been learning a wide range of skill sets now that she is self-employed. Learning how to generate new business is just one of the skills that she is enjoying. Heather started her business during the pandemic but she has been busy. There is still a huge need in this sector. Heather shares her involvement in politics and her experience with changing/enforcing legislation. How did Heather get started with writing so much? Where does Heather see the industry headed in the next 12‒18 months? Why should someone join this space in 2021 and beyond? What does Heather wish she'd known about her career when she first got started? Keep Getting Better Sandersoncomp.com Heather on LinkedIn Quotes “The need is still there. It's been a pandemic but right now, Medicare has two threatened proposed rules which would drastically change the need for Medicare secondary payers.” “We see reports all the time that the Medicare trust fund is running out by a certain date. The Medicare secondary payer act was designed to preserve the trust fund, so there's been more enforcement on it for that reason.” “I'm not just going to sit here and complain about it. I want to do something about it. To the extent there are future reforms, I want to advocate for my clients.”

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How Do We Innovate for the New World Ahead? With Sean Kevelighan

Play Episode Listen Later May 26, 2021 32:22

Sean Kevelighan is the President and Chief Executive Officer of the Insurance Information Institute (III), a position he's held since 2016. He has served in various public sector posts in Washington, D.C. As a political appointee in the administration of President George W. Bush, he served first in the Department of Treasury as a spokesperson for economic issues, and eventually became Senior Advisor for the Office of Tax Policy. In this week's episode, Sean shares his perspectives on where the insurance industry is headed and some of the upcoming climate and economic risks that could occur if we don't position ourselves correctly, and the importance of educating the public in matters of insurance and how it affects their everyday lives. Key Takeaways A bit about Sean and how he found himself in insurance. When Sean became exposed to the insurance industry, it really opened his eyes as to how it impacts and benefits so many people's lives. How does III help educate the public about insurance in simple language? Sean shares how III helps companies identify risk. What do we need to know about climate risk? As more and more people move into harm's way (for example relocating to a state that's prone to natural disasters), it's important that III thinks of ways to bring more awareness of these risks to the general public. How can we better brace ourselves for economic risk? Sean shares his hopes for the future and where the future of this industry is headed. People know that innovation and disruption are the way forward. As new emerging risks happen, we need to have better standardization processes in place. What does Sean wish he'd learned sooner about the insurance industry? Keep Getting Better iii.org Sean on LinkedIn Quotes “Value is a moving target, so you need to be moving with it. Consumers want to understand how they can be more resilient to the risks and the changes that are happening in our climate today.” “Close to five years ago, there was a big discussion whether or not innovation was a threat or opportunity. I think people really dug in. All industries are in line with digital innovation.” “One of the problems we're facing today as a society is over 50% of IT costs are going towards legacy systems.”

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How Do You Create Diversity in Risk Management? With Storm Wilkins

Play Episode Listen Later Jun 9, 2021 26:41

Storm Wilkins, ESQ., CPCU is the Executive Director of the Maguire Academy of Insurance and Risk Management (MAIRM). She brings more than 25 years of experience and deep technical knowledge, previously working in the insurance industry as a former trial attorney. In this week's episode., Storm shares what she sees in young risk management professionals and students, why it's critical to be proactive in your outreach to attract talent, and how to bridge the diversity and inclusion gap in the industry. Key Takeaways A little bit about Storm and how she got her start in insurance. Storm gets excited about insurance because there's so much you can do with it. What advice does Storm have for students interested in risk management? When it comes to diversity inclusion, what does this sector need to do more of? The good news is that companies want to make an impact, they want diversity, and they've reached out to Storm to try and find a solution. You need systemic solutions when you're facing systemic problems. So many people do not know risk management is a possibility for them. Sustained outreach is key in showing people what's possible in the field. Let's talk about risk management scholarships! How is the industry going to be different post-pandemic? Storm shares how the industry will be different in 2026. What does Storm wish she learned sooner in her career? Keep Getting Better Sju.edu/mairm Storm on LinkedIn Quotes “19% of folks in the risk management industry identify as non-white. 10% is African America and 6% is Asian. Women are 60% of the industry, but less than 20% of that is occupied by women in C-suite. LGBTQ+ is also not fairly represented.” “It's necessary for everyone in the industry to do sustained outreach so people who don't know about the industry, do know about it.” “There's lots of changes that are going to be accelerated by the pandemic, but obviously, it's a people business first.”

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Where Are the Innovation Opportunities in Insurtech? With Justin Gress

Play Episode Listen Later Jun 23, 2021 28:27

Justin Gress is the Vice President of Strategic Initiatives at Vantage Group Holdings Ltd. Prior to joining Vantage, Justin served as Director of Strategic Operations for North America for AXA XL. Vantage was launched in 2020 and Justin has been leading the charge in helping them build out their U.S. product offerings. In this week's episode, Justin shares his thoughts on innovation, where the insurance industry is headed, and how he identifies new insurtech solutions for his market! Key Takeaways Justin shares a little bit about his story and how he got into insurance. What questions should risk management professionals ask themselves before joining a new company? Justin shares the biggest difference between working for a startup vs. a larger more established company. You have to be hyper-conscious about what the company culture looks like in a startup and how you're showing up with a smaller team. What is the state of innovation right now in the industry? Justin shares his process on how he identifies new insurtech. Closing the talent gap is on everybody's minds. How is Justin trying to solve the problem? Justin believes it's not going to be uncommon to see individuals with more than one expertise, from underwriting to data science, coming through in the industry. The siloed career professional with one skillset is going to be less and less. There's a lot of moving pieces in the industry that make this space very appealing to new professionals. You just need to let them know about it. Justin shares his thoughts on where the industry is headed in five years. The customer relationship is going to be even more transformed in the future. Professionals need to be prepared for that. What does Justin wish he'd learned sooner in his career? Keep Getting Better Vantagerisk.com Justin on LinkedIn Quotes “When you're in a startup, you have to realize you've got to build everything from scratch. You've either got to buy it or build it, and you're going to get your hands dirty.” “In many ways, things continue to speed up. There are so many opportunities to get involved from an innovation perspective.” “There's a ton of room for innovation, so a fresh set of eyes is important.”

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How Do You Successfully Launch a New Program? With Kevin Johnson

Play Episode Listen Later Jul 7, 2021 26:32

Kevin Johnson is the President of Insurance Programs at Munich Re Specialty Insurance. Kevin has served in a wide variety of roles at Munich Re Specialty Insurance for the last 12 years and became President in 2019. Kevin is also the recipient of the 2021 Business Insurance Breakout award. In this week's episode, Kevin discusses what he looks for in new talent, the bad reputation the insurance industry has and how to change it, and the successful elements of a new insurance program launch. Key Takeaways A little bit about Kevin and how he got his start in insurance! What was something Kevin was looking for in an employer when he left college? Kevin looks back and shares why he is glad he learned underwriting early in his career. What does Kevin look for when hiring new talent? Let's talk about the talent gap. Kevin shares what we can do as an industry to improve this. People want purpose-driven work. Our industry has a bad reputation, but it's on us to share why the type of work we do is so important. How will the industry change due to the pandemic? Some things will always remain the same, despite the pandemic. Where is the future of insurance headed? We still have a long way to go when it comes to leveraging the data we currently have. We are quite behind compared to other industries. What are some of the elements of a successful program launch? Kevin shares some timeless advice on how to create long-lasting connections within the industry. What are some of the benefits of working for an international organization? It's important that you go outside of the insurance industry to look for inspiration and to bring new thought diversity into this industry. Keep Getting Better Munichre.com Kevin on LinkedIn Quotes “For college grads, you want to go deep and wide. A training program like a rotation-based underwriting training program allowed me to do both in a very short period of time and be able to make those connections.” “We are looking for well-rounded graduates. Have they tapped into leadership roles, taking on more responsibility? To us, it creates a candidate pool of folks that can be future leaders for our organization.” “Outside of our industry, the reputation hasn't been the best and it's on us to continue to drive that change and narrative change and carry the banner of what our industry really is.”

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What's Really Important After COVID-19? With Greg Offner

Play Episode Listen Later Jul 21, 2021 26:16

Greg Offner is a multi-talented individual, with a passion for entertaining and educating others on topics that can improve their personal life and professional success. This passion comes from his 17-year stint in Corporate America, and over a decade spent as a professional entertainer. Greg is a keynote speaker, coach, and workshop facilitator that focuses on disruption and creativity in the workforce. Find out more on this week's episode! Key Takeaways Greg shares a little bit about himself, his non-traditional path, and how he got involved in disruption. After the financial crash, Greg found himself in insurance! And then something unexpected happened, Greg lost his voice! After COVID-19 hit, Greg had to reinvent himself. We've entered an autonomy economy. It's never been easier to start your own business. The companies that understand why we're here, our purpose, are the ones that are going to last the longest. Greg realized more than a decade later that his goal was never money, it was freedom. There is a big emphasis on hardline numbers-driven growth in organizations, this means that the development of our people tends to fall behind. Soft skills are more important than ever, especially as we communicate more readily online. Only 5% of young kids are being taught mindfulness and resilience in schools. Employers are receiving employees who do not have soft skills or leadership skills, yet they are in leadership positions. This trickles down and affects an organization on several levels. Become a company people can't wait to work for! Remember, no change is permanent. They're going to keep happening, so how are you going to adapt? What does Greg wish he'd learned sooner in his career? Keep Getting Better Gregoryoffner.com Greg on LinkedIn Quotes “This has been a year of change and the insurance industry is no different.” “It's never been easier to start a business and run it from wherever you want in the world. Folks want that freedom and flexibility.” “People don't want to be told what to do right now. Everyone wants the Instagram life that they see.”

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Did You Know Insurance is a Very Dynamic and Diverse Industry? With Rita Williams-Bogar

Play Episode Listen Later Aug 4, 2021 29:16

Rita Williams-Bogar provides consultative services to businesses and individuals in the areas of leadership and organizational development, emotional intelligence, diversity, insurance technical education, and more. She is a keynote speaker for the insurance industry and uses a client-centered approach to tailor workshops to her clients' needs. Her mission is to share proven strategies to help people reach their potential. In this week's episode, we learn about Rita and her vast career experience in the insurance industry. Key Takeaways A little bit about Rita and how she found herself in insurance. Mentorship has been a huge part of Rita's success. When Rita is able to blend her passion for psychology and leadership together, there's something magical that just happens in a room full of students. There are no such things as “soft skills.” Soft skills are quite hard to successfully execute on! When the pandemic hit, people were panicking and didn't believe they could do this job remotely. Rita knew it was possible. As an independent contractor, Rita's biggest challenge was understanding how to price her services. Rita charged the same price she was being paid at her previous position. Mistake! That was way too low. Are you interested in teaching? Rita shares how she got her start. When it comes to diversity and inclusion, where does the industry stand? There's a huge talent gap in insurance. What do insurance professionals need to be thinking about? So many people are unaware of the vast possibilities and opportunities that are in insurance. We need to be proactive in teaching newcomers what's out there. Remember, normal is going to be different, going forward. Rita doesn't believe we'll get back to 2019's “normal.” Keep Getting Better Personaldevelopmentsolutionsllc.com Rita on LinkedIn Njawbo.org Quotes “I would encourage people to follow their dream.” “My price is my price. If this is not what you want to pay, what is it that you want to remove from the proposal?” “Higher management had the right idea (to hire diverse candidates), but the people who were running the day-to-day operations had a different idea.”

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What is Microinsurance and Why Are You Missing 80% of The Market? With Michael McCord

Play Episode Listen Later Aug 18, 2021 31:13

Michael McCord is a Principal and Managing Director at the MicroInsurance Centre in Milliman's Appleton, WI office. With over 25 years in the industry, Michael saw a growing demand for insurance for low-income individuals, but very few resources to support them. This market is vastly underserved because their needs are different. When thinking about how to service this demographic, the insurance industry needs to take on a complete paradigm shift. Michael explains why in this week's episode. Key Takeaways A little bit about Michael and what he does for Milliman. Very quickly, Michael realized that when low-income people did better and started moving up the ladder, a small disaster would occur, and they were right back on the breadline. When Michael, who has spent time throughout Africa, went to suggest the concept of insurance to help the people of Uganda, his idea was rejected. Michael has spoken to different types of executives in this field, the reason why so many companies target the “upper market” is because they don't know how to access this lower-margin market and help more people. How do you define microinsurance? Selling insurance to low-income people has a lot of moving pieces. This means you have to be on the ground and talking to people to really understand their unique challenges. Michael lists some of the challenges with serving this particular market segment. There are four pillars to making microinsurance successful. Michael shares a bit of back story as to why. The reality is, there isn't enough money in these policies. The margins are low, but you make up for it in volume. Is there more of an acceptance from regulators on the need for microinsurance? Michael shares an example of why a freemium model doesn't work in this space. Michael breaks down how the insurance industry has to think differently for this demographic by sharing some common challenges people are running into, and how microinsurance helps fill that gap. Michael is doing a women's risk insurance profile in Kenya. He shares some of his insights so far. Climate change is a real problem. Michael is seeing first-hand the impacts of it and the people who deeply depend on agriculture to survive. What does Michael wish he'd known about at the beginning of his career? Keep Getting Better Frm.milliman.com Michael on LinkedIn Quotes “Microinsurance is specifically designed for low-income people. This is an active piece of the insurance continuum.” “We're going to do a $500 policy for low-income people. How do we operationally do that differently? It's a paradigm shift. Low-income people need money within hours, [not days/weeks].” “We have to define microinsurance with regulators, how to distribute it, who can distribute it, what technology they can use. We need to get all four of those pieces and if we don't do a piece of that, then it will always fail.”

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Where's the Best Place to Get Mentored in the Insurance Industry? With Sean Noonan

Play Episode Listen Later Sep 1, 2021 25:38

Sean Noonan is the Underwriting Supervisor at EMC Insurance Companies and shares his experience with us in this week's episode. He talks about the dynamic and diverse aspects of the insurance industry, offers his thoughts on what it's like to be a leader, and what the insurance industry needs to do differently to attract the next level of talent! Key Takeaways A little bit of Sean and how he got involved in insurance! The great thing about insurance is that there is a personality that matches every professional opening within the industry. What was the transition out of college and into the workforce like for Sean? It was important that Sean get involved in a field that had growth. He didn't want to remain stagnant in his career. Sean shares why he wanted to move geographically and take on a different position in insurance. No amount of books will prepare you for real-life leadership lessons. How can the insurance space become more appealing to the next generation of employees? The insurance industry needs to stop focusing on how stable the industry is and focus more on how much of a positive impact we have on people's lives. The world cannot operate without insurance! The perception of the industry was that it was going to be all suits and very boring. However, when Sean entered, it was quite the opposite! Why is it important to get involved with an organization or chapters like the CPCU Society? Sean shares where he sees insurance headed and how the pandemic has changed the way we work forever. How can CPCU make a bigger impact for its members? Sean weighs in. What does Sean wish he'd learned sooner? Keep Getting Better Emcins.com Sean on LinkedIn Quotes “The sooner people are exposed to insurance and all the different facets... People think insurance is one-dimensional; there are so many different roles that fit so many different personalities. You can find whatever you like in insurance.” “As a leader, you really can't prepare yourself for some of the personal dynamics that occur in a leadership role until you're in the situation.” “Stability is nice, but we're selling the industry short. We do great things. We are there for people during disasters, it's a noble profession; we take care of people.”

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What's Life Like After Leaping In? With Abi Potter Clough

Play Episode Listen Later Sep 15, 2021 28:22

Abi Potter Clough, MBA, CPCU, is a Keynote Speaker, Author, and Business Consultant focused on leadership and strategy, personal branding, insurtech, and international risk management. She has over 15 years of experience at a Fortune 500 company and currently chairs the International Insurance Interest Group of the CPCU Society. Today, she talks about what it's like starting her business in 2020, why insurance is an exciting place to be, and so much more! Key Takeaways A little bit about Abi and how she discovered Insurance After getting laid off, Abi decided to make the leap and start her own company. Abi has gone through a lot of transitions, but one thing is certain, nothing really ever stays the same. Abi shares some of the challenges of starting your own business. Why is Abi passionate about insurance? What inspired Abi to write her book, Life After Leaping In? There's a lot of growth happening in the insurance industry. They are actively seeking more technology professionals to help with the increased demands. Abi talks about her involvement in the CPCU Society and how it's helped her as a professional! What does Abi wish she'd known sooner in her career? Keep Getting Better Abileads.com Abi on LinkedIn Life After Leaping In: Change Management In A Changing World, by Abi Potter Clough

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What New Changes are Happening in the CPCU Society? With Spenser Villwock

Play Episode Listen Later Oct 1, 2021 32:03

Spenser Villwock is the Executive Director & President of the CPCU Society! He has over two decades of leading purpose and mission-driven organizations to achieve greater outcomes. In this special episode, Spenser dives into the latest updates and changes happening within the CPCU Society and what members can look forward to in the upcoming year. Key Takeaways A little bit about Spenser and how he found himself in insurance. As a new President, what attracted Spenser the most about the CPCU Society? Spenser's challenge for the CPCU Society is to reinvent themselves in a way that attracts a wider audience and better serves the needs of today's workforce. Spenser does an overview of some of the challenges industry professionals are experiencing as a whole. Unfortunately, the industry is ignoring these changing demands and still trying to do what worked last year, or five years ago, and it's not making a big impact. What upcoming changes can members expect to see within the CPCU Society under Spenser's new leadership? Spenser is excited to diversify the membership portfolio. There are five new categories of membership happening. Spenser breaks this down. You can expect these changes to take place on Nov 1st! What is Spenser's impression of the local chapters within the CPCU Society? And where does Spenser see areas of improvement? There's been a consolidation of interest groups within the membership. What's going to happen with the interest groups? What does Spenser's vision for the future look like? Spenser shares what he wishes he'd learned sooner about his career. Keep Getting Better Cpcusociety.org Spenser on LinkedIn

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What Makes a Good Story? With Matthew Luhn

Play Episode Listen Later Oct 13, 2021 28:17

Matthew Luhn is an author, storytelling consultant, and inspirational speaker. Matthew trains CEOs, entrepreneurs, marketing teams, and other professionals how to use the secrets of great storytelling to captivate an audience and sell a product or service. He has worked on numerous Pixar films including, Toy Story 2, Monsters Inc., Finding Nemo, Cars, Ratatouille, UP, and more. In this week's episode, you'll learn how to tell a better story, some of the best ways to leverage data in your story, and how insurance professionals can become captivating storytellers. Key Takeaways A little bit about Matthew and how he got his start in storytelling. How can people tell a better story? There are five pillars to a good story! The key to crafting a good story or presentation is to practice. How can insurance professionals stand out from their competition? What actually makes you different in your industry? Be honest. Leverage the power of testimonials and metaphors when talking about your product. How can insurance professionals become more creative in the workplace? If people are having fun, they're going to be more creative! Want to practice being a better storyteller? Think about real-life experiences of how the company has made their life better. Why did Matthew get into inspirational speaking? How do people really do it in the entertainment world? Matthew wanted to bridge that gap and show businesses how to light people's days up. What does Matthew see the future of work headed? One of the biggest enemies of creativity and innovation is fear. Keep Getting Better Matthewluhnstory.com Matthew on Twitter Quotes “Just like anything you want to get better in life, it's about practicing.” “The other thing that makes you unique is the people.” “When people are having fun and they enjoy where they work, they will be more creative.”

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Why Is Discussing Diversity and Inclusion So Uncomfortable? With Traci Adedeji

Play Episode Listen Later Nov 5, 2021 30:07

Traci Adedeji is the Insurance Operations Program Lead at AIPSO and a fellow member of the CPCU Society Leadership Council. With over 30 years of experience, Traci has specialized knowledge in the auto insurance industry. In this episode, she talks about diversity, how to start a conversation about inclusion, where self-driving vehicles are headed, and what the world of insurance will look like as more of these types of vehicles are seen on the road. Key Takeaways A little bit about Traci and how she got started. Traci attributes her willingness to learn in helping her accelerate her career growth. Traci shares where the industry is, as a whole, when it comes to diversity and inclusion. We need to give ourselves credit that there is a problem and there isn't a simple fix out there quite yet. How do we talk about race in a safe way? How do we begin to attract different sets of people in the industry? What makes the insurance industry so attractive to newcomers? Traci shares her thoughts on the future of the auto insurance industry. Everyone needs auto insurance. We need a diverse set of people and experiences when programming automated underwriting. Are you comfortable interacting with the people you work with? Traci shares how you can begin getting out of your comfort zone. You cannot let yourself be limited by your own false beliefs! Traci thought because she wasn't white, she didn't have the right degree, that she wouldn't be able to excel in her career. This is false! Your possibilities are as limitless as you make them. Keep Getting Better Traci on LinkedIn Quotes “Diversity is the biggest opportunity we have to secure the future of our industry.” “If organizations take the time to create an inclusive and nurturing environment, that fertilizes the ground and sets the stage for better conversations.” “The insurance industry is COVID-19 proof. There are also more diverse opportunities in this space than there were 15 years ago.”

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Who Are the Real Disruptors? With Ari Chester

Play Episode Listen Later Nov 19, 2021 28:05

Ari Chester is the Chief Operating Officer of Americas Reinsurance at SiriusPoint, a global reinsurer with over $3 billion in capital. In this week's episode, we learn a little bit about Ari, the three things SiriusPoint looks for when investing in products and companies, why Ari is proud of getting his CPCU certification, and so much more! Key Takeaways A little bit about Ari and how he discovered insurance. Why did Ari choose to work at SiriusPoint? Ari shares what's different about leaving the consulting/McKinsey world vs. working within the insurance industry. Where is the future of reinsurance headed? What does SiriusPoint like to invest in and how do they manage risk? Ari wants to work with people who have a thesis; a mission, and he looks for someone open to feedback. What types of challenges does the industry face right now? Ari talks about the benefits of getting his CPCU certification. It's so important, no matter where you are in your career, that you have a commitment to learning. Insurance is a very relationship-intensive business, you need to consciously be building your network. Why does Ari recommend joining the insurance industry? What did Ari wish he knew at the very beginning of his career? Keep Getting Better Siriuspt.com Ari on LinkedIn Quotes “I wanted to work somewhere where it was a bit edgy, more of a startup feel, where the core mission wasn't just to do insurance but to disrupt and make a difference.” “One of the challenges is adoption. The technology is available and present, but it doesn't mean it'll be used.” “There's a lot of benefit from continuing to learn in an industry that's fast-changing. I truly believe in a mission of continuing education.”

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What Will Even Be Relevant in Five Years? With Lisa Davis

Play Episode Listen Later Dec 3, 2021 27:16

Lisa Davis is President and Chief Underwriting Officer at Canopius Group. Lisa has worked in the industry for more than 25 years and began her career as a construction underwriter. Today, Lisa talks about how many emerging opportunities there are for young professionals that she did not have access to when she first got started, how the industry has changed for the better over the decades, and what insurance professionals need to keep an eye out for as we progress into this fast-paced future. Key Takeaways How did Lisa get into underwriting and risk management? Lisa does a lot of underwriting within the U.S., but the ownership comes from outside of the U.S. and needs a multinational risk management perspective. How is this different from more “traditional” or regional U.S. underwriting positions? What kind of cultural differences has Lisa run into? Lisa is very fortunate to have had really strong female mentors in her life that have pushed her forward in her career. Embrace your personal brand. It doesn't matter what age you are, it can be used as a huge benefit to your career, going forward. Lisa believes the industry has gotten better when it comes to promoting diverse people from within, but there's still some room for improvement. There are more opportunities than ever in the insurance industry. The world is rapidly changing and people still need insurance. What things are Lisa seeing differently now that she is in a C-suite position? Things are moving so fast that within five years, certain things will be seen as old-fashioned. Lisa shares her thoughts on what we need to do to better prepare for the future. What does Lisa wish she had learned sooner about her career and the industry? Keep Getting Better Canopius.com Lisa on LinkedIn Quotes “You're underwriting risk for the U.S., but you're thinking about it with a multinational hat and that gives you the ability as an underwriter to help you think about things differently.” “It's important for people to understand that having a personal brand that is somewhat different from what the younger folks are working with, can really be used as a benefit to yourself and the company you're working for.” “Insurance is something that everyone needs and as we are moving more into remote working, there are so many opportunities now for young folks to get in the industry.”

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Where Is the Evolution of Conferences and Insurance Journalism Headed? With Matthew Kahn

Play Episode Listen Later Dec 15, 2021 29:35

Matthew Kahn is the President of Risk & Insurance and oversees the National Workers' Compensation Conference and ErgoExpo. He has over 20 years of experience leading media and conference organizations. During his career, he has been successful with the digital transformation of content creation and marketing services. In this week's episode, we get to know more about Matthew, how insurance journalism has evolved, and the rising value of conferences brought on by the pandemic. Key Takeaways A brief summary of how Matthew got started with the Internet 1.0 world and why he called himself a generalist. Matthew breaks down why there is a stigma around risk and insurance in the trade publication industry. 9/11, climate change, the pandemic, just to name a few, all have risk components. Matthew shares how they anchor their approach in creating content. The National Workers' Compensation Conference is one of the top annual conferences in the industry. How did Matthew manage to set this up during the pandemic? How will the conference dynamic change, moving forward, as a result of the pandemic? With remote working being ingrained into our systems, the value of conferences will complement this new working environment. Matthew explains how they use digital and virtual tools to maintain engagement at events. The evolution from print to digital has now accelerated, but how has the pandemic impacted insurance journalism? Insurance journalism is constantly evolving but its main purpose remains the same, which is, who is your audience and how do you engage them? Matthew further expands on this. Was there anything Matthew wished he'd known out of college that he now knows? He shares his words of wisdom. Keep Getting Better Theinstitutes.org Wcconference.com Riskandinsurance.com Quotes “Insurance is absolutely vital. The entire global economy cannot operate without the structure of insurance to mitigate and transfer risk.” “Just because something works well in one channel, it does not work well when you just copy it in another one. Our team was not in favor of doing the whole virtual conference.” “Now that we are going into the third year in this pandemic and remote work has gone on so long, I think the longer it persists, the more ingrained it's going to be.”

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What's New in the Insurance Space Industry? With Richard Parker

Play Episode Listen Later Jan 26, 2022 30:27

Richard Parker is the Divisional President and Co-Founder of Assure Space, an underwriting agency that provides insurance for all aspects of the space industry including traditional launch and in-orbit launch vehicles and satellites. He's been in the space industry for the last 35 years and shares what's happening in this exciting industry in this week's episode! Key Takeaways How does someone get into space insurance? Richard shares his extensive background and what he's up to today with Assure Space. In this context, space insurance is covering the asset in space and how it got there. Most of Richard's business is in the commercial sector and not in the public/government sector. When would an insurance claim be fulfilled in this industry? In a good year, a satellite company might only sell 4‒5 spacecraft in a year. Quality control is incredibly thorough in this industry. There can't be room for error, which is good for the space insurance industry because it means there is a very small failure rate. What questions do you ask before insuring a spacecraft? Where is this industry headed in the next five years? Richard shares his thoughts on how the insurance industry can be more exciting for young talent. So many people do not know space insurance even exists. Education and publicity are key. What does Richard wish he'd known sooner about his industry? Keep Getting Better Assure-space.com Quotes “When we talk about space insurance, we're really talking about first-party insurance.” “When I think about space insurance, I think we're really lucky to be covering satellites and rockets. The satellite manufacturer industry is very competitive.” “This is exciting. It's never stopped being exciting. We were the first insurer to provide hardware on a space station. It's never ending, the space station insurance business.”

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What Are the Impacts of Social Inflation? With Jerry Theodorou

Play Episode Listen Later Feb 9, 2022 33:24

Jerry Theodorou is the Director of the Finance, Insurance & Trade Policy Program. Jerry develops and advances effective free-market public policy solutions to complex issues where federal and state governments have intervened. In this episode, he weighs in on what social inflation is, climate change insurance, and questions the ethical role insurance plays in the nuanced complexities of our society. Key Takeaways A little bit about Jerry and his extensive career. What is social inflation and its impacts? What is human life worth? What are pain and suffering worth? How do you really put a price on these things? Companies that overpay for something in fear of the consequences hurt everyone, including the surrounding economy. What should you know about litigation funding? Jerry weighs his thoughts on how climate change is impacting the insurance industry. People are questioning whether the country Kuwait will be inhabitable in a few years. Risk management is what this industry is all about, and with big data readily available, it becomes easier to calculate that risk and charge a fair price for it. There's an argument being made currently that credit-based insurance scores are discriminatory. The facts are if you discriminate against others, you are less competitive. Jerry shares his thoughts on how the industry will adapt to our changing world in the next five years. The insurance industry has been the one funding and supporting our infrastructure. Jerry explains what roles the bonds market plays in all of this. What does Jerry wish he'd learned about sooner in his career? Keep Getting Better Rstreet.org Jerry on LinkedIn Quotes “People are talking a lot about inflation these days with 6% over-year inflation, but that's economic inflation, which is driven by supply and demand. Social inflation is rising loss cost for reasons not driven by economic factors.” “Institutional investors are looking for diversifying asset classes that are uncorrelated to credit and debt markets, and [litigation funding] is quite lucrative, but there are some ethical problems.” “Something is happening. There are still climate change deniers, but the facts are air temperatures are rising and sea levels are rising.”

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Where is Digitalization and Data Analytics Headed? With Madhu Tadikonda

Play Episode Listen Later Feb 23, 2022 29:38

Madhu Tadikonda is the President of Corvus Insurance overseeing risk, underwriting, and sales. He started his career at AIG, serving as both Chief Data Scientist in Commercial Insurance and then Global Chief Underwriting Officer. More recently, Tadikonda co-founded Archipelago Analytics, an innovative data platform that uses AI to digitize risk for large owners of commercial property. In this episode, he talks about the future of insurance, digitalization, and how he uses data analysis for better decision-making. Key Takeaways A little bit about Madhu and today's topic. Madhu shares his story of how he got to where he is today. His consulting and investing career has always been around using data analytics for better decision-making. Traditional vs. Cyber Insurance. Madhu shares what are the benefits of the latter. What are the opportunities he sees with Cyber? Madhu shares different scenarios where different risks can be mitigated in our digitized world. Risks don't only happen individually but in aggregate and building confidence in your portfolios is important. How does Madhu see the current state of technology application of data in the insurance industry? Madhu also shares his perspective about insurtech and where it may lead to in the future. He also talks about how data analytics can evolve and be applied in the insurance industry in the next few years. Madhu shares what is underhyped, yet the most precious, in the insurance industry. What is the future for cyber price incentives for corporations? Madhu shares his insights. As a data scientist, Madhu shares his message to people who have interest in data and why the insurance industry can be a place for them. Data science and analytics can be used for good through insurance because it leads us to a secured and safer world. Madhu also shares his framework for decision-making throughout the changes he made with his career. Five years from now, what are the differences Madhu would see in the insurance industry? Madhu shares what he wishes he'd known way back when he started that he knows now. Keep Getting Better Canopius.com Assure-space.com Madhu on LinkedIn Quotes “Even small changes in decision-making can make a huge difference in companies that pay a hundred million dollars in claims per day.” “As smart as you think you are in pricing or underwriting, the bad guys are just evolving much much faster.” “The insurance industry is data science for good. When we're making analyses and using the price signals, we make workplaces, autos, and companies safer.”

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What Is The Future of Risk and Risk Management Students? With David Marlett

Play Episode Listen Later Mar 9, 2022 28:34

David Marlett is a Professor in the Department of Finance, Banking and Insurance at Appalachian State University and the Managing Director of the Brantley Risk & Insurance Center. He holds the IIANC Distinguished Professorship and has taught courses in risk management and insurance for the last 25 years. The focus on today's topic is about the next generation of risk management, what David sees in his students, and what his company is looking for. Key Takeaways A little bit about David and today's topic. David shares his journey and how he got to where he is today. With Hurricane Andrea, he learned how quickly the development of an economic area can happen and how insurance structures can fail. He has always been a teacher teaching a topic that he's always been fascinated and continued to be excited about. What made him decide to go into teaching and what is his experience like teaching risk management? David talks about the different ways of pursuing a teaching career within risk management. What advice can David give to professionals considering a career like his? What are the motivations behind the students who end up graduating from their programs? David shares how he tells the story of a profession in insurance for them to know what it is really like and get their attention. Are the motivations of the students now different from those 10‒20 years ago? David shares some best practices on how companies can successfully recruit in risk management programs. Companies that are looking to start getting into recruiting, what are the philosophical aspects they should add in their recruitment efforts? With the future of risk management in academia, David shares what he sees that will evolve especially with what happened with the pandemic. How does David see the risk management program changing and the industry to be different in five years from today? David shares what he wishes he'd learned sooner in his career. Keep Getting Better Appstate.edu David on LinkedIn Quotes “Once we can get the students to listen to us, to meet people from the profession, to take a class with us and meet people from the industry, it's like turning a lightbulb on. They realize there are some really good opportunities here.” “The biggest thing would be to set up internships. So, the companies that year-in and year-out hire our top students don't wait and show up their senior year in the spring career fair and try to hire them, they're recruiting them their sophomore and junior year.” “So many things in life feel random, you just happen to be at the right place at the right time, but if you don't show up then you miss that opportunity.”

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Where Is the Future of the Commercial Flood Market Headed? With Nick Lamparelli

Play Episode Listen Later Mar 23, 2022 33:10

Nick Lamparelli is a 25-year insurance veteran who has been an agent, a broker, a marketer, and, more recently, a catastrophe modeler. Five years ago, he left the corporate world and Co-Founded reThought Insurance Corporation. His Managing General Agent (MGA) model paved a new way to form strategic relationships with insurers, reinsurers, and other capacity providers to innovate in the commercial flood market. In today's episode, he talks about the future of risk by analyzing it from this new perspective. He also shares how new technologies are involved in a number of new enterprises and how insurance professionals can seize those opportunities. Key Takeaways A little bit about Nick and today's topic. Nick quit medical school to get into insurance. He shares his journey on how he got to where he is today. Catastrophe modeling created a purpose for Nick around insurance. He explains why. How did Nick approach understanding the different models that made sense to both consumers and the market? Were there any “aha” moments for him? We use models in catastrophes because we currently have no other way to do it in an actuarial approach. He explains how he was able to utilize alternative reinsurance with these models. Why did Nick decide to go out on his own and start something new? You have so many stakeholders in insurance. Nick asked himself how he can create something that was going to satisfy each of them. Nick advises not to fully replace your source of income through consulting unless it earns enough to pay for your bills and lead you in the right direction. What were the steps he went through starting his own MGA? Were there any surprises he encountered along the way? An evolution is occurring and Nick shares his own experience with that while starting his own MGA. If you're gonna start an MGA, Nick advises you to budget two for two. He explains what that means. MGAs are extremely challenging but they're a marvelous tool in our toolbox. Nick shares an example of how they work. What are Nick's thoughts on what changes we can expect for the future in insurance? Nick shares a thought from Bill Gates where human beings overestimate the advances of technology in the short term and underestimate it in the long term. He explains how this relates back to what he predicts for the future of insurtech. Nick also talks about auto insurance as an example of this evolution. The things we insure are changing because of technology. Nick shares that it's important for insurance professionals to understand this as well as prepare for what's to come in the future. Insurance is a marvelous industry and it's got all the wrong stereotypes. If Nick could go back in time, he would tell himself not to take the standard path in his career. Keep Getting Better Nlamparelli.com Nick on LinkedIn Nick on Twitter

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How Do You Provide Educational Content to the New Insurance Generation? With Carly Burnham

Play Episode Listen Later Apr 6, 2022 27:43

Carly Burnham has almost 20 years in the insurance industry and was recently named Product Development Manager at Constellation, a growing portfolio of medical professional liability insurance. Constellation was formed as a response to the ever-changing realities of healthcare and its dedicated to reducing risk and better supporting physicians and care teams. She is also Co-Founder and Chief Editor at Insurance Nerds, the go-to source for transformational talent development and career management serving the global insurance ecosystem. In this episode, Carly shares why insurance educators are needed more than ever, best ways to attract talent in the insurance industry, and what Insurance Nerds helps to solve for in the space. Key Takeaways A little bit about Carly and today's topic. Carly started out at an insurance agent in her hometown in Minnesota. She shares the most important lesson she learned from her experience. She learned that she really enjoyed evaluating risk and that's what got her into underwriting. She shares how she discovered Constellation and what she loves about this company. How does Carly evaluate new opportunities in insurance? Product Development vs Underwriting. Carly shares the similarities and differences of both roles. Why did Carly and her partner Tony Cañas start Insurance Nerds? Carly started writing about professional opportunities and educational suggestions for their fellow millennials in the industry. The company has since grown into a podcast, video series, and a new book. Carly found that the resources available in insurance were only found in textbooks. This inspired her to improve upon the industry. With all the changes happening in the industry, there is a need to explain what this industry is about at a basic level. How does an introvert advance dynamically in the insurance industry? What is Carly's message to employers to best attract talent? Carly shares what she sees in the industry five years from now. Carly previously believed that being an introvert would limit her opportunities. She shares what she would tell herself back then. Keep Getting Better Insnerds.com Carly on LinkedIn Carly on Twitter Quotes “You can see when the leadership at your organization believes what they're saying to the employees and to the market and it's refreshing to work somewhere you can see that in practice.” “There's a large need for new talent but there aren't necessarily programs to develop future talent.” “Just being authentic as you bring new employees in and letting them know what opportunities they really have at your company is another way to help someone see their value in an organization.”

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How Do You Underwrite in the Virgin Islands and the Caribbean? With Theresa Fabela

Play Episode Listen Later Apr 20, 2022 34:57

Theresa Fabela is the President of Dorchester Insurance Company and is accountable for Underwriting, Claims, Accounting, Budget, and Reinsurance. She leverages the company's expertise in writing island-based property and casualty exposures to profitably grow the business. She is also the President of the Virgin Islands Insurance Guaranty Association and Virgin Islands Association of Admitted Property & Casualty Insurers. In today's episode, she shares how she solidified the company's presence in the Caribbean, while successfully guiding the Company through two Category 5 hurricanes that devastated the Caribbean in 2017. Key Takeaways A little bit about Theresa and today's topic. Theresa got her first job in insurance in 1999, but it wasn't always a linear path. In 2011, Theresa decided to pursue her CPCU. She shares the connections she made then that caused her to move to Dallas. Triple-A offered her a job in the Virgin Islands. What were some of the factors that made her decide to move there? What is the difference between the Virgin Islands' market and the domestic market? There are only three property-casualty insurance domiciles in the Virgin Islands. Theresa shares what they are. How did Theresa prepare for the two hurricanes in 2017? She shares her experience going through it. People were offering her an escape from the island and Theresa explains why she turned their offer down. Theresa describes what it was like being in the hurricane and how she first made contact with her boss after the hurricane. The aftermath of the hurricane was devastating. Theresa recalls how they got everything together despite the challenges before them. While they were trying to get everything cleaned up, they heard about another hurricane coming. Theresa shares how they prepared for a category five hurricane. Theresa shares the things she is proud of and grateful for being a local insurer in the Virgin Islands. Are there any changes she wants to implement in underwriting following this experience? One of the lessons Theresa learned was about frame housing. She continues to share what that is. Another lesson she learned was about hollow cinder blocks. She explains why they're not great. What is it like being a female leader in the insurance industry? Theresa talks about her many fascinations about insurance and why it could also be an interest for others. It's important to bring new talent but it's also important not to lose focus of the potential in the talent the insurance industry already has. Theresa wishes she'd known earlier that insurance was going to be her career. She explains why. Keep Getting Better Theresa on LinkedIn Theresa on Twitter Quotes “What really got me excited about insurance at that time was hearing a risk manager of Disney talk about all the work that they do. And it really opened my eyes that there are so many jobs in insurance including running an insurance company at Disney.” “It's a different experience than I think that most insurers face where you're actually in the middle of a catastrophe along with everyone else.” “Today was a good day and tomorrow is going to be better.”

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What is the Role of Diversity, Equity and Inclusion in Today's Industry? With Dr. Leroy Nunery

Play Episode Listen Later May 4, 2022 26:23

Dr. Leroy Nunery is the President of Evolution Advisors, LLC. Dr. Leroy D. Nunery II is a Senior Advisor with Econsult Solutions and is Founder and Principal of PlūsUltré LLC, a boutique advisory and consulting company started in 2007 that focuses on turnaround, growth, and innovation planning, resource development, talent development, governance training and diversity, equity and inclusion strategies. In 2017, PlūsUltré was commissioned to author a groundbreaking study titled, “The Journey of African American Insurance Professionals: Past and Present,” which has been widely praised and cited within the industry as a resource to better understand DEI dynamics. In today's episode, Dr. Nunery shares insights into his current work as president of Evolution Advisors as well as a look at the past, present and future of the industry. Key Takeaways Dr. Nunery shares the journey that led to his current position. The goals of Evolution Advisors as an MBE-focused firm and what they are looking for when meeting with potential investment companies. Growth capital, partnerships, and opportunities for expansion all illustrate DEI in action. Key characteristics of the most successful agencies in the industry. “The Journey of African American Insurance Professionals: Past and Present” had a major impact on the industry. What inspired Dr. Nunery to author this groundbreaking piece? While talking about inclusion is essential, so is recognizing and respecting historical roots. There were 52 African-American-owned mutual life insurance companies formed around the reconstruction period after the Civil War. Dr. Nunery shares the inspiration he gains from this history. The critical importance of diversity is not limited to only to color, gender and race, it needs to include underserved, uneducated and untapped markets as well. African Americans are as likely as anyone to buy insurance products, but too often they buy the wrong products for their needs. Dr. Nunery reflects on the current state of diversity, equity and inclusion in the insurance industry. What messaging could make this industry more attractive to the next generation of professionals? Attracting talent into today's industry needs to include opportunities for AI, predictive analytics, digitizing, and omnichannel marketing strategies. A five year look into the future of the industry reveals that developing broader relationships and committing to a more positive impact is essential. Dr. Nunery reveals the things he wishes he knew when he started his career in 1969 that would have increased his confidence and flexibility. Keep Getting Better Dr. Nunery on LinkedIn Dr. Nunery on Twitter Quotes “It's an exciting time to be in this industry, because it's DEI in action. It's implementation, not just words or philosophy.” “While we talk about inclusion, folks, you do have historical roots here. Appreciate those. Learn from them.” “What we're trying to do by telling these stories is to inspire people to reach further.” “The work is important, but you've also got to build relationships and be exposed.”

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What's New in Risk Management and Public Transportation? with Rick Graham

Play Episode Listen Later May 18, 2022 28:08

Rick Graham is the Chief Risk Officer for SEPTA (Southeastern Pennsylvania Transit Authority), the nation's sixth-largest provider of public transportation. Rick leads a team of ten risk management professionals responsible for the authority's treatment of risk, management, and employee injury claims. He also oversees a comprehensive vocational rehabilitation program and currently serves as the VP of the Delaware Valley Chapter of RIMS. He earned his BA in political science from Meridian College. In today's live episode, from the 2022 RIMS Conference, Rick highlights the successes, challenges, and future of risk management and public transportation. Key Takeaways Rick highlights the chapters of his risk management career. As a risk manager in public transportation, what does Rick want people to know? Public transportation provides great opportunities for inclusion and equity. Seeking solutions for the unique exposures that are presented in public transportation. Public transportation has seen major technology changes over the last decade. Rick highlights some of the innovations in railroad technology and smartphones. As a public entity, public transportation has been affected by the current state of the finance market. Rick details his approach to the changing dynamics of the environment, including the impact of climate change. Cyberattacks present a very real threat to any company. Rick emphasizes the importance of handling IT infrastructure with the same emphasis as physical infrastructure. How will public transportation continue to change as more people adopt a hybrid work model? The impact that the pandemic has had on the demand for public transportation. Future challenges in public transportation and the most important steps professionals can take today to prepare for the future. With a focus on DEI, changes still need to happen in the public transportation industry to effectively welcome more people in. RIMS recognizes that greater diversity, equity, and inclusion need to happen, and are working as a leader in increasing DEI in the industry. Why come to insurance? Rick shares some of the highlights and rewards of his career. Ideas for pulling non-traditional candidates into risk management industries. An optimistic look at the future of the risk management industry includes a younger, more diverse workforce. Rick reveals what he wishes he had known at the beginning of his risk management career. Keep Getting Better Richard Graham at RIMS Richard Graham on LinkedIn Quotes “There is a lot of focus on diversity, equity, and inclusion right now, and public transportation really affords people to be inclusive and provide equity.” “We're acutely aware of [the impact of climate change] taking the risk management model and applying it.” “You have to look at your IT infrastructure the same way you look at your physical infrastructure.” “The most important thing that we have to do as a profession is not to accept things as they are today.” “We've got to look at diversity, equity, and inclusion as an opportunity, not as a threat.”

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How Anyone Can Make Shift Happen with Anthony Trucks

Play Episode Listen Later Jun 1, 2022 30:31

Anthony Trucks is a former NFL Athlete, American Ninja Warrior on NBC, international speaker, host of the Aww Shift podcast, and the founder of Identity Shift coaching. He uses cutting-edge science and psychology to upgrade how you operate so you can elevate your life and business to reach your full potential. After being given away into foster care at three years old, being adopted into an all-white family at 14, losing his NFL career to injury, and more he learned how to shift at a very young age, and now his life mission is teaching others how to Make Shift Happen in their lives. Anthony will be the closing keynote speaker at the In2Risk event this November in San Francisco. He has joined the podcast today to address major life challenges — how to overcome them and how to shift when things get crazy. Key Takeaways Anthony shares the early childhood experiences that led him to make shift happen. Ownership is the first step to making true change — Anthony asked himself what he personally had control over and could shift to take control of his life. The process of effecting real change starts with embracing the discomfort. Consistently returning to the difficult, over time, transitions it into your new normal. “Embracing the suck” transforms the drive that will help anyone make lasting change. There is a space where you can exist without the anxiety or fear of a certain trajectory toward a death pit. Ask yourself about the work that you are doing — is this the right time to do it? Is this the right amount of time spent on it? Can I leave work at work? Anthony wants listeners to fall in love with your day, not just your destination. Progress happens when we stretch for more while still keeping a good rhythm in life. The core habits that help Anthony make shift happen include effective planning, pausing before saying yes, and maintaining a daily schedule. Creating boundaries with phone calls, texts, and emails will allow you to accomplish your high-priority tasks first. Five minutes of focus time is all you need to lean into productive flow. Avoiding distraction starts by taking yourself off-line to counteract your brain's desire for a dopamine hit. Anthony shares some of the major risk-taking moves in his career that paid off, and some that didn't. What will the future have to offer for those who want to make shift happen in their lives? Insights from Anthony's time as the first former NFL athlete on American Ninja Warrior. Anthony reveals what he wishes he had known at the beginning of his journey. Keep Getting Better Anthony Trucks IN2Risk 2022 Quotes “Eventually there's a journey that takes place where this thing that you hated to do becomes something that you identify with now.” “We all know what we want, but for some reason, there's not enough of a drive.” “I have to fall in love with the day, not just the destination.” “I can still stretch for more while keeping a good, enjoyable rhythm in my life.” “Being able to put boundaries … is paramount to your success.” “People who can execute and execute consistently, I believe, have the greatest upside.” “I want the opportunity in the moment where no one else sees it.”

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How To Make Sure Everyone Is Involved with Cindy Baroway

Play Episode Listen Later Jun 15, 2022 28:19

Cindy Baroway joins the conversation this week from the exhibit hall floor at Risk World. Cindy is the Executive Director for the University of Colorado Denver's risk management program and is a past Global President of the CPCU. She gives her thoughts on how the industry can attract new talent, how we can better hire and retain diverse talent, and her best advice for new graduates looking for an internship or career in insurance. Cindy also talks about why she joined the CPCU society, and the rewards her involvement has brought to her professionally and personally. Key Takeaways Cindy shares her perspective on being a female executive in the insurance industry. Companies can cite that diversity is important to them, but making feel employees feel comfortable is critical as well. What other lessons can Cindy impart to companies trying to encourage more diversity in the executive ranks? If you're going to play golf or going out to have drinks after work, ask yourself if you are including everyone in the office. Students are looking for flexibility and impact when considering a role in insurance. What can companies do who are recruiting Risk Management students? Cindy shares her thoughts on the best practices to try and attract commuters and first-generation students to insurance. Cindy talks about the benefits she gained from being a part of the CPCU society. Keep Getting Better IN2Risk 2022 Cindy Baroway Cindy Baroway LinkedIn Quotes “If you can lead a group of volunteers, you're going to be successful in your business environment.” “It's not so much just about how people look. If you're not welcoming, the minute they walk in the door, people aren't going to stay.” “If you're going out to play golf, or you're going out to have drinks after work, or having even a Zoom happy hour, are you including everybody within that office that should be there as well?”

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The Future of the Insurance Industry with Laura Botero

Play Episode Listen Later Jun 29, 2022 27:20

Chris Hampshire hosts this week's conversation from Risk World, where everyone is looking for the next generation of talent for the insurance industry. He is joined by Laura Botero, a senior in the Risk Management Program at Illinois State University, for a conversation about how she decided on risk management, how she is getting more involved, and her impressions of the insurance industry as top career of choice. Laura shares her advice to both young people who might be interested in a career in insurance and to those who are already successful in the industry, as well as some ways that the perception of the insurance industry can be changed for the next generation. Key Takeaways Laura shares the journey that led her to the risk management industry. Interaction with prospective employers and other opportunities that are available to students of risk management. Insights into the current state of diversity, equity, inclusion, and belonging within the industry. Attracting new talent into the industry through scholarships and attendance at networking events. Laura offers a message to young people who might be interested in a career in insurance, and to those who are already successful in the industry. The benefits and networking opportunities that come with membership in Gamma Iota Sigma. Advice to employers for attracting talent through tuition reimbursement and other employee benefits. Changing the perception of the insurance industry starts with word of mouth. Laura addresses the global issue of the talent gap within the insurance industry and post-pandemic working preferences. Keep Getting Better IN2Risk 2022 Gamma Iota Sigma Quotes “Insurance is so attractive to me because insurance is naturally global.” “There are a lot of job openings right now in the insurance industry.” “Take all of the opportunities. You never know who you're going to meet and what you're going to find out.” “When looking at new talent or in the interview process, that connection is probably what drives students most.” “I wish I had started earlier and listened to those people who told me to join insurance.”

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Broadening the Talent Base in the Insurance Industry with Dr. Brad Gronke

Play Episode Listen Later Jul 13, 2022 35:51

Host Chris Hampshire is joined today by Dr. Brad Gronke, technical training manager for Gallagher Bassett and founder of Ignite P3. Dr. Brad is an outcomes-driven influential claims leader and public speaker with over 20 years of industry experience. He has joined the podcast for a conversation about diversity, equity, and inclusion and how the CPCU Society is working to broaden the talent base in the insurance industry. Dr. Brad shares the progress the insurance industry has made on diversity, equity, and inclusion, as well as some of the key areas that still have room for growth. He also offers insights into the meaningful ways that the insurance industry has supported him in expanding his network, improving his connections, and achieving his career goals. Key Takeaways Dr. Brad reflects on his childhood dream of helping people, and the career path that has realized that dream. The aspect of human development that appeals to Dr. Brad and drives his mission. “Use it or lose it” applies to every aspect of human evolution, including our brains. How does the insurance industry present itself positively to the marketplace, and how could it improve? The insurance industry is there to carry people through loss, a fact that needs to be more clearly communicated. Humanity in business is always the best practice. The current state of diversity and inclusion in the insurance industry has plenty of room for future growth. It is essential that leaders focus on diversity, equity, and inclusion. Writing your personal diversity story is the first step in widening your reach. Key steps to attracting more diverse talent within the insurance industry. Dr. Brad reveals the successes that have come with starting Ignite P3. The value of the CPCU Society network in fulfilling passions and reaching career goals. Getting intentional, saying no, and increasing meaningful involvement. What Dr. Brad wishes he'd known when he started in the insurance industry 20 years ago. Keep Getting Better IN2Risk 2022 Quotes “If we don't work our brains, if we don't continue to exercise them and grow our knowledge, then they're going to atrophy.” “Humanity in business is the best practice.” “If we put humanity first, the profits will come, the people will come, the talent will come.” As a leader, you have to be focused on diversity, equity, and inclusion.” “Greater intentionality has helped me deliver amazing results, professionally and personally.”

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The Internet of Things and the Insurance Industry with Hemant Sarma

Play Episode Listen Later Jul 27, 2022 28:57

Host Chris Hampshire is joined today by Hemant Sarma, Global Digital Internet of Things Manager at Chubb, the world's largest publicly traded property and casualty insurer. Hemant has been with Chubb for over 25 years and is responsible for developing enterprise strategies that leverage internet-connected technologies to advance the company's best-in-class risk engineering services. He has joined the podcast for a discussion about the Internet of Things and his work at StreamLabs, a manufacturer of commercial IoT water sensors, and how it all works. Key Takeaways Hemant shares the journey that led him to a career in risk management. How did growing up in India inform Hemant's involvement in insurance? The application of IoT in the insurance world has only been accelerated by the pandemic. Examples of how IoT technologies benefit both insurance customers and underwriters. Improved applications of data allow Chubb to make better decisions. Real-time data helps to predict and prevent potential risks and improve underwriting data points. The apprentice program at Chubb helps to attract new talent to the insurance industry. Chubb also offers college scholarships and rotation programs to continue to build a pipeline of future employees. Characteristics that Chubb looks for in interviews and potential new hires. Hemant's career path has been guided by the kinds of problems that he aims to solve. He aims to tackle the challenges and opportunities that face the company. A look at the industry five years from now reveals that IoT is going to play a continually increased role. Details of a changing distribution model, the role of the underwriter, and the changing nature of risks themselves. Hemant reveals the wisdom he wishes he would have known when he started his career. Keep Getting Better IN2Risk 2022 Quotes “COVID-19 has made very clear the role of IoT in our lives.” “IoT is going to be a gamechanger for the insurance industry.” “We are continuing to build a pipeline of our future employees and candidates.” “As roles evolve and the opportunity arises, keep an eye open for that and you will definitely find ways to dabble in IoT.” “This is going to be a very interesting marketplace over the next five years.”

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What's Going On With Catastrophe Modeling? with Lucian McMahon

Play Episode Listen Later Aug 10, 2022 29:36

In this episode of In the Know, host Chris Hampshire is joined by Lucian McMahon, senior manager at Verisk Analytics Extreme Event Solutions Group, where he leads the research and development of scenarios for the Arium liability catastrophe modeling platform. Lucian details where this industry is headed, emerging liabilities that are of most interest, and why someone with a data background should consider getting involved in the insurance industry. Key Takeaways Lucian wasn't planning on joining the insurance industry, initially. A little bit about what Lucian does at Verisk Analytics Extreme Event Solutions Group. The role of research in processing and quantifying emerging risks. Lucian details the recent example of a major asbestos claim. A look at the future of emerging risks in the liability space, including climate change liability. Perceived risk plays a major role in anticipating and estimating future liabilities. Details about emerging liabilities regarding PFAS chemicals. Property liability clash refers to natural events that also have liability implications, such as wildfires in California. Why should someone with a data background consider getting involved in the insurance industry? A five-year look at the journey and future of liability catastrophe modeling. What Lucian wishes he had known at the beginning of his own journey. Keep Getting Better IN2Risk 2022 Quotes “[We are] asking the right questions and then crafting a narrative around which it is reasonably credible that liability might spread and ultimately manifest in losses in the insurance industry.” “The possibilities of different liability events and how they might manifest are very fluid and complex.” “I think climate change liability is very interesting in the context of how people respond to climate change.” “Often we are trying to anticipate and estimate how human beings respond to risk, even perceived risk.” “Insurance in many respects is a very data-rich space.” “We're in an exciting space and solving problems that many people said weren't possible to solve just a few years ago.”

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What's Changing in the World of Claims? with Gregg Golson

Play Episode Listen Later Aug 24, 2022 27:12

In this episode of In the Know, host Chris Hampshire is joined by Gregg Golson, Vice President and Program Director at J.S. Held University. Gregg has over 25 years of comprehensive experience in claims management and has resolved over 12,500 property claims in his career. In their conversation, Gregg and Chris discuss all that is changing in the world of claims, from technologies and leadership to exciting changes that the future holds. Key Takeaways A little bit about Gregg's career path and what attracted him to claims. The challenging aspects of training others on claims. Gregg's tips for attracting the next generation of claims adjusters and leaders. Primary drivers of change in the claims world, including cost and increased PPE. The genesis and impact of J.S. Held's proprietary system claims progress products. The applications of drones and other disruptive technologies in claims and project progress monitoring. A look at the future of property insurance and flood coverage for coastal areas. Gregg's involvement in CPCU designations, including publications, over the years. Leadership and networking opportunities that are available through CPCU. The value of investing in your people at the employer level through CPCU. CPCU designees are always considered role models to others. Looking to the five-year future of claims. Gregg reflects on what he wishes he would have known when he started his journey. Keep Getting Better IN2Risk 2022 Quotes “One of the best ways we can attract people to claims is talk about the cool jobs that we have.” “At CPCU, there are always people working behind the scenes to make you better and set you up for success.” “Leadership is such a great opportunity to network.” “CPCU is superior at providing leadership skills and direct technical knowledge.” “I don't know of anyone who has joined CPCU who hasn't become an influencer at their company.” Once you become a CPCU, you are looked at as a role model by other people.”

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The Underwriters of Tomorrow with Ramya Sunad

Play Episode Listen Later Sep 7, 2022 28:45

Insurance expert Ramya Sunad has worked in all segments of the industry. She is a lead property underwriter for USAA and also serves on both the executive and the Global Leadership Council for the CPCU Society. Ramya joins Chris Hampshire on today''s podcast for a conversation about the future of underwriting, changes in the insurance marketplace, and the value of getting involved with the CPCU Society. Key Takeaways “I'm excited to be at work every single day.” Ramya shares her journey into insurance. Adjusting and evolving from life in India to life in America. Key differences between the Indian and American insurance industries. Ramya's advice for anyone who is considering transitioning to America. What drew Ramya into the changing underwriting space? Making better insurance decisions based on exposure to climate, smart technologies, and more. Ramya's advice for finding the right career within the insurance industry. Attracting a diverse talent base is the key to an optimized, effective, and efficient team. Tactics for recruiting a more diverse talent pool, including celebrating what has already been accomplished. Ramya's opportunities and experiences as a result of her CPCU designation. The CPCU mentor program provides valuable leadership and networking opportunities. A look to the future of the insurance industry. Ramya reveals what she wishes she had known when she began her career in insurance. Keep Getting Better IN2Risk 2022 Quotes “Network, network, network, always with the goal of finding solutions.” “The world is shrinking faster than we have ever seen before.” “Insurance can bring people from multiple backgrounds into our industry to make a real impact.” “Find your passion and invest in it, then leadership will come naturally.” “You certainly need diversity, people who think differently, who solve differently, who apply differently in your teams to make those teams that much more optimized, effective and efficient.” “When I found my community within CPCU, I knew I belonged.” “Belonging to the CPCU Society gives me a 50,000-foot view of the insurance industry.”

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The Growing Insurance-Linked Securities (ILS) Market with Ethan Nadorlik

Play Episode Listen Later Sep 21, 2022 27:19

Insurance-Linked Securities are the next frontier of the insurance industry, and Ethan Nadorlik is at the forefront of this rapidly developing financial innovation. Ethan has worked exclusively on insurance programs during his career and is a seasoned property and casualty insurance underwriter, leader, and strategist. On today's podcast, Ethan and Chris Hampshire sit down for a look at Ethan's career path in insurance, particularly in the Insurance-Linked Securities (ILS) space — what's new, what's changing, and what we can expect from this advancing technology in the future of the insurance space. Key Takeaways Ethan's education and the career path that led him into insurance. How do insurance-linked securities work? The key differences between casualty- and insurance-linked securities. The evolution of these contracts starts with a risk originator. Highlights of the ILS approach to the insurance marketplace. What attracted Ethan to this new insurance space? The benefits of working with a start-up that is building value in the industry. The questions Ethan asks himself when deciding his next career move. The impact and value of the CPCU designation in Ethan's career. Ethan's motivation behind moving into the CPCU presidency for the Philadelphia chapter. Advice for attracting talent to the insurance industry. By working in insurance, you have the ability to change someone's life. A five-year look to the future of ILS and the insurance industry at large. The impact that Ethan's early work had on his insurance career. What does Ethan wish he had known at the onset of his career? Keep Getting Better IN2Risk 2022 Quotes “My education was great batting practice for what I'm doing in my career today.” “This is a new frontier, a chance to build something new and a chance to change our industry.” “ILS is going to be the way of the future.” “The real value of CPCU is the network you develop when you get involved in the society.” “If you can get involved with a non-profit board it can show that you might be ready for a management opportunity.” “Insurance is a vital part of our economy and of people's lives. You can make a difference in someone's life by working in insurance.” “There are going to be tons of employment opportunities in insurance for the foreseeable future.” “We've passed the proof-of-concept stage and now we're working toward scale, and I think it's really going to take off.”

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Discovering Female Voices in Insurance with Sarah Muniz

Play Episode Listen Later Oct 5, 2022 29:26

From being told she shouldn't work because she was pregnant to being passed over for promotions simply because she is female, Sarah Muniz has seen a negative side of the insurance agency that is antiquated and leans heavily in favor of men. In an industry that is already suffering from a significant talent crisis, now is the time to take a look at the talent that is already in place but has been pushed out. Sarah Muniz has been in the insurance industry for over twenty years and is the author of Undiscovered Voices: Unlocking the Potential of Women in Insurance, a first-hand account of the challenges women face in the insurance agency. On today's podcast, she sits down with Chris Hampshire for an honest discussion about the experiences and prejudices that women in the insurance industry face and where we need to go from here. Key Takeaways Sarah immediately fell in love with the insurance industry, but not with the way she was treated there. Living in fear prompted Sarah to write the book that shares her story. Unfortunately, Sarah's story is not an uncommon one in the insurance industry. The situations in which women are most comfortable sharing their stories. The impact that agency size has on managing these biases. Male brains versus female brains have different but equally capable ability to utilize problem-solving skills. The natural skills that women have to connect and read other people is an asset in the insurance industry. What fears are keeping women from speaking up? Insurance promotes average men — what does that mean for women? Solving the insurance talent crisis with the women who are already in the industry. The benefits of having females in insurance leadership roles. Ideas for creating more mentoring opportunities for women. Why is now the time to take a look at and correct these injustices? A five-year look to the future of the insurance industry. What Sarah wishes she had known at the onset of her career. Keep Getting Better IN2Risk 2022 Special thank you to our episode sponsor Butler University Lacy School of Business. Quotes “It's surprising how common these stories are when women are in small groups.” “I'm met with a lot of women who have said, yes, this resonates with me.” “Every time I got pushback, I decided to do more research.” “Although our brains work differently, we can come to the same problem-solving skills at the end of the day, we just may go about it in different ways.” “Empathetic women are a huge asset in an industry where we're trying to protect other people in their time of need.” “If we can take the talent we already have, foster it, and make things more equitable, we're going to attract more to our industry.” “I believe we already do have a talent abundance, it's just going unnoticed.” “We're not trying to push men out, we're just trying to come up with them.”

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Starting the First Minority-Owned Reinsurance Brokerage Firm with Kael Coleman

Play Episode Listen Later Oct 19, 2022 27:35

Conversations about diversity, equity, and inclusion are improving in the insurance industry every day and today's CPCU Society podcast guest has witnessed the benefits of those strides firsthand. Kael Coleman is the CEO and founder of Protecdiv, the only minority-owned tier-one reinsurance broker in the market. Kael formed Protecdiv to directly address the lack of supplier diversity options and to increase the diverse offerings available within the market. On today's podcast, Kael joins Chris Hampshire for a conversation about reinsurance, why Kael decided to strike out on his own, and the opportunities that can be found at the intersection of a diverse-owned business combined with expertise in mortgage and catastrophe insurance. Key Takeaways A 10,000-foot view of the mortgage and reinsurance credit space. The inspiration behind Kael's decision to work with supplier diversity. The challenges facing diverse-owned businesses in the insurance space. Opportunities at the intersection of a diverse-owned business combined with expertise in mortgage and catastrophe insurance. Kael's experience as a black man in the insurance industry. Has any real progress been made with DE&I in the insurance space? Unexpected surprises when starting a reinsurance business. Kael's advice for entrepreneurs who are considering starting their own businesses. Powerful considerations when joining the insurance industry. The key characteristics Kael looks for when hiring. Implementing modern data management and analytics. The importance of trust in the relationships of the insurance business. A five-year look at the technology and metric changes coming to the industry. The future of the reinsurance sector in the insurance landscape. Kael's advice for his younger, less experienced self. Keep Getting Better IN2Risk 2022 Quotes “Conversations surrounding diversity, equity, and inclusion are just at the cusp of getting better.” “A big thing we've lacked so far as an industry is metrics around DE&I.” “Insurance is the most fun industry that you've never thought about.” “What we do as an industry is one of the most important things that we do in our society that I think people don't really understand.” “So much of our business is relationship-based. People have to trust you.” “If people don't trust what you're saying, they're not going to do business with you.” “Five years from now we're going to see a lot more integration of technology in the industry.”

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The Diversity of Underwriting in Reinsurance with Andrea Garcia

Play Episode Listen Later Nov 1, 2022 28:28

Career options available within the insurance industry are vast and rewarding but widely unknown, especially at the undergraduate level. Regardless, many in the industry would argue that the earlier one can get involved in insurance, the better. On today's podcast, Andrea Garcia joins Chris Hampshire to discuss her experience as a female in the reinsurance sector. Andrea is a Senior Underwriting Specialist and Second Vice President for General Reinsurance Corporation, underwriting casualty facultative business on behalf of Berkshire Re. She offers her thoughts on how to better attract business talent to the insurance industry as well as her insights on being a risk management student who transitioned into reinsurance. Key Takeaways Andrea's education and experience led her to the insurance industry. The variety of career options that Andrea's risk management degree provided. Reinsurance provided the variety that Andrea was seeking. The value of extensive training in the early onboarding months. Effective ways to train new underwriters. Andrea's experience as a female leader in the industry. Ideas for increased inclusivity across the industry. A look at the five-year diversity strides within insurance. Trends that are leading the industry into the future. Why reinsurance? Andrea highlights the benefits of the sector. Andrea's experience with the CPCU Society. What Andrea wishes she had known at the onset of her career. Keep Getting Better IN2Risk 2022 Quotes “I've realized that everything around us correlates to insurance.” “Training is the most important aspect when joining a new company.” “To have the right onboarding at the very beginning will only make you more confident later on.” “Success is about creating your own pathway.” “I just wish I had gotten my CPCU sooner, I really do.”

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Composing the Next Insurance Generation with Jim Jones

Play Episode Listen Later May 7, 2025 29:20

Jim Jones is the co-creator of the new In The Know podcast music and has been the Executive Director of the Katie School of Insurance & Financial Services at Illinois State University since 2001. The Katie School supports over 500 students majoring in Risk Management and Insurance (RMI), actuarial science, and other majors, who are interested in careers in insurance. Jones works with ISU faculty, staff, administration, and industry executives in helping to develop talent for industry and educate students at the velocity of change. He holds an MBA in International Business from Saint Louis University, a BSBA in Finance and Accounting from the University of Missouri Trulaske College of Business, and CPCU, AIC, ARM, and AIS. In this episode of In the Know, Chris Hampshire and Jim discuss microinsurance in developing countries, the next generation of talent, what Gen Z is looking for in a career, and tactics for successfully addressing the talent gap in the insurance industry. Key Takeaways Jim's current role in the insurance industry focuses on the next generation of risk management professionals. As the Director of Claims Education, Jim taught 20,000 students each year. Jim's research in creating inclusive insurance in developing countries. In The Know's new theme song was written while Jim was in Kathmandu. Expanding the reach of microinsurance to underserved populations. A portrait of today's recently graduated insurance professional. Tactics for addressing the talent gap in the insurance industry. Characteristics of companies that successfully hire recent graduates. Jim's stand-apart advice to his early career self. In the Know podcast theme music written and performed by James Jones, CPCU, and Kole Shuda of the band If-Then. To learn more about the CPCU Society, its membership and educational offerings, tools, and programs, please visit CPCUSociety.org. Follow the CPCU Society on social media: X (Twitter): @CPCUSociety Facebook: @CPCUSociety LinkedIn: @The Institutes CPCU Society Instagram: @the_cpcu_society

Identifying Emerging Issues and Exposures in the Insurance Industry with Tim Fletcher

Play Episode Listen Later Apr 9, 2025 29:17

Tim Fletcher is Gen Re's VP, Senior Emerging Issues Specialist, and an avid contributor to Gen Re's blog, and he edits the UM/UIM Liability Laws Survey. He is a graduate of the University of Minnesota (Bachelor of Arts, Journalism) and the Michell-Hamline School of Law (Juris Doctor), and currently serves on CPCU's Reinsurance, Excess & Surplus Lines Interest Group and as chapter governor for the Upper South Region. He is a founding member of the Atlanta Insurance Coalition for Change and a guest lecturer on Risk Management and Insurance at Georgia State University and many industry organizations. In this episode of In the Know, Chris Hampshire and Tim explore emerging issues and exposures in the insurance industry, including AI, forever chemicals, social inflation, and medical advancements. Key Takeaways Tim's journey from journalism to the insurance industry. The current state of the industry in the face of climate change. Messaging ways to reduce premiums with improved building processes. AI's impact on the present and future state of the insurance industry. Trends to be aware of in the AI space. Forever chemicals and microplastics as critical exposures that impact insurance. Social inflation and nuclear verdicts now and in the future. Growth and implications of autonomous vehicles and humanoid robots. Evolving technologies in the medical field. Addressing the talent gap in the insurance industry. A first look at the next generation of insurance agents. A five-year look at the technology-enhanced insurance industry. Tim's adventurous advice to his early-career self. Quotes “There are opportunities for the insurance industry to better communicate its message.” “We're on the dawn of something significant that's going to be very interesting and exciting.” “I don't think there's any other profession that has a greater misunderstanding from what the public thinks it is to what it really is than the insurance industry.” “Your CPCU designation gives you a nice exposure to all facets of the insurance industry.” “Don't just put your CPCU designation on the shelf. Get active!”

Ethical Decision-Making Throughout the Claims Lifecycle with Lori Hurkin

Play Episode Listen Later Mar 26, 2025 25:51

Lori Hurkin is the Director of Casualty Claims at Nationwide Insurance. Lori has over 31 years of experience and has worked for State Farm and Nationwide. Lori spent six years honing her leadership skills and facilitating effective communication within teams as a development trainer. She has 24 years of experience in auto claims and has navigated every stage of the claim life cycle in multiple leadership roles. Lori achieved her CPCU certification in 2003 and has remained involved with the Iowa chapter and the Ethics Committee at the national level. Lori holds several prestigious designations, including CLU, CFC, SCLA, and CIC. She is a certified facilitator for both the Vital Smarts Influencer program and Corporate Coach U's Coaching Clinic. In this episode of In the Know, Chris Hampshire and Lori discuss ethics, the past, present, and future of claims, and Lori's approach to leadership training. Key Takeaways Lori's customer service background led her into the insurance industry. In technical claims, Lori works to implement enhanced claims automation. The current state of claims automation. AI's role in the evolution of automation is encouraging but still limited. Insights into the threat actor space. The importance of ethics and insurance is highlighted in the CPCU space. Examples of ethical dilemmas in insurance. Solid leadership development in the next generation of the insurance industry. Lori's message to anyone considering a career in claims. The benefits of the CPCU designation. A five-year look at the future of the insurance industry. Lori's encouraging advice to her early career self. Quotes “There are a lot of companies that are looking to capitalize automation, not only for the company but for the customer.” “Doing the right thing may not always be the simple answer in insurance.” “We need to make sure that we are creating and developing professionals in our baseline associates.” “Creating that world-class underwriter mindset is very important.”

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Understanding Ceded Risk and Reinsurance with Ryan White

Play Episode Listen Later Mar 12, 2025 24:39

Ryan White serves as Assistant Vice President and Director of Ceded Reinsurance at UFG Insurance. He has held the roles of associate, commercial, and senior underwriter, underwriting supervisor, and the first underwriting manager of UFG Online. In 2021 he was named Assistant Vice President and recently transitioned into the newly created role of Director of Ceded Reinsurance. White holds extensive reinsurance experience, a BBA in Finance, and an MBA from the University of Iowa. He also holds the CPCU, ARe, AU-M, AU, and Associate in General Insurance (AINS) professional designations. He has served on the board of the Cedar Valley CPCU Chapter since 2020, and recently joined the CPCU Reinsurance and Excess Surplus Lines Interest Group in 2023, serving as Vice Chair for the 2024 term. In this episode of In the Know, Chris Hampshire and Ryan discuss launching an online platform in the reinsurance sector, ceded risk and reinsurance, and the career benefits of earning the CPCU designation. Key Takeaways Unlike so many, Ryan entered the insurance industry intentionally. Reinsurance or primary insurance? Ryan weighs in. Details of the ceded reinsurance marketplace. Essential skill sets that aided Ryan's rise from associate to management. The highs and lows of launching an online digital platform. The impact of the pandemic on Ryan's work. Lessons learned while transitioning from the small business digital platform to the reinsurance arena. A tailored approach to meeting the ceded reinsurance needs of each client. An overview of the breadth of ceded reinsurance coverage. Ryan's motivation behind his involvement in the CPCU Society. Reinsurance & Excess Surplus Lines Symposium 2025. Iowa as a global insurance hub. Ryan's perspective on earning both the MBA and the CPCU. Ryan's message to anyone considering the reinsurance sector. A five-year look to the future of the insurance industry and AI. Advice from current Ryan to his early career self. Quotes “Launching an online digital platform was a really exciting time in my career and in the company.” “No matter what part of the industry you're in, it's all about relationships.” “The opportunities that are in front of you in the reinsurance industry are unlimited.”

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Product Strategy in the Ever-Changing Insurance Environment with Marisol Schulte

Play Episode Listen Later Feb 26, 2025 27:56

Marisol Schulte, CPCU, AIC, is a Senior Consultant of Personal Lines Strategic Planning and Insurance at TransUnion. Marisol supports in developing and executing TransUnion's product strategy for the personal lines property and casualty markets. She has over 18 years of property and casualty insurance experience, beginning in claims, with additional positions in R&D and Product Management for State Farm, CSAA, and Farmers. Schulte attained her CPCU in 2017 and graduated cum laude from California State Polytechnic University, Pomona with a bachelor's and master's degree in Mathematics. In this episode of In the Know, Chris Hampshire and Marisol examine the current conditions in Southern California in the wake of the January 2025 wildfires and discuss her journey in the insurance industry. Key Takeaways Marisol's humble upbringing underscored the importance of education. From claim rep to actuarial work to the vendor side, Marisol has found there is always something new to learn in the insurance industry. You don't need to have a family member in the industry to succeed in your insurance career. The importance of networking in a successful career. The impact of the Southern California wildfires on insurance ratings and carrier approvals. Increasing insurance premiums are creating unique challenges for vendors. Long-term solutions for insurance in California. The pros and cons of moving from claims to strategy. CPCU courses provide insights into every aspect of the insurance industry. Marisol's decision to move from the carrier to the vendor side. Insurtech aims to address the unicorns of the technology industry. Marisol's decision to earn her CPCU designation stemmed from the example of her mentors. Insights into what's coming next in the insurance industry, the market, and the economy as a whole. A five-year look at the future role of insurance in the constantly changing environment. Strategies for fostering a more welcoming insurance industry. Marisol's bold advice to her early career self. Quotes “If you are willing to network, there will be someone willing to help.” “Beyond just insurance, there has to be something more that someone comes up with that helps with the new climate that we're in.” “Going through the CPCU courses allowed me to see what else is out there.” “In CPCU courses, I was having deeper and more meaningful conversations with different folks within the insurance industry.” “Everything is changing, and we have to keep abreast on how we can provide solutions in this changing environment.”

Making Industry Risks into Opportunities with Dale Porfilio

Play Episode Listen Later Feb 12, 2025 28:32

In2Leadership keynote speaker Dale Porfilio, FCAS, MAAA, is the Chief Insurance Officer for the Insurance Information Institute (Triple-I) and President of the Insurance Research Council (IRC). In these roles, he leads the research and education activities of both organizations, working closely with Triple-I and IRC subject-matter experts to develop data-driven industry insights and analyses. Dale previously worked at Genworth Financial, Kemper, and Allstate for a total of 29 years. Dale is a Fellow of the Casualty Actuarial Society (FCAS) and Member of the American Academy of Actuaries (MAAA). In this episode of In the Know, Chris Hampshire and Dale discuss climate change, legal system abuse, and some of the topics that Dale will be addressing as the keynote speaker at April's In2Leadership conference. Key Takeaways Dale grew up knowing that insurance was always a career option. Actuarial sciences allowed Dale to apply his strengths to insurance organizations. The 2025 insurance industry is in a dynamic state. The outstanding response of the insurance industry to climate change. Risk-based pricing is a critical consideration for carriers' actuarial goals. The importance of allowing market competition and less regulatory restrictions. The name “legal system abuse” does matter. Developments in the legal system abuse sphere. The impact of third-party litigation funding on the commercial sector. Strategies for improving the practice of third-party litigation funding. Dale's pragmatic take on the five-year future of the insurance industry. Embracing technology in ways that are helpful to the future of insurance. Quotes “For me, I always knew that insurance was an option.” “The 2025 insurance industry is in quite a dynamic state.” “Allowing market competition and less regulatory restrictions is helpful overall.” “How can we make the practice of third-party litigation funding as healthy as possible?” “Insurance companies are here to make people whole. We don't always need to have attorneys involved at the level they are today.”

Developing Niche Products for Healthcare Providers with Maia Jarvis

Play Episode Listen Later Jan 29, 2025 26:21

As Vice President of Operations at BLISCare, Maia Jarvis provides executive leadership for the company's MGU activities, spearheads product development, and oversees the ever-evolving BLISCare insurance management platform. With over 10 years of experience in the insurance industry (focused on creating innovative, niche solutions) and more than two decades of leadership under her belt, Maia has mastered the art of problem-solving and resource-wrangling. A key player in the launch of the BLISCare captive, Maia now serves on its Board of Directors. Maia earned her BA from the University of Portland and her MBA in IT Management from Western Governors University. She holds CPCU and ARe designations along with several Salesforce certifications; she is working on her ACI (Associate in Captive Insurance) certification. In this episode of In the Know, Chris Hampshire and Maia explore the niche products offered at BLISCare, how this captive was formed, and the many exciting careers that can be found in the insurance industry. Key Takeaways Maia's insurance career started, like so many, somewhat unintentionally. The offerings at BLISCare began with a problem that needed to be solved. Lessons learned as this niche bariatric program launched. Marketing this targeted product started with word of mouth and has expanded with the help of medical provider referrals. The benefits behind the decision to create this captive product. Maia's journey from executive assistant to establishing a captive product with alternative risk financing was successful, in part, because of her mentors. An overview of the benefits of earning CPCU, ARE, and ACI certifications. Maia's IT Management MBA helps her understand how to cultivate solutions in the insurance industry. The exciting role of IT in navigating industry pain points to find solutions. Maia's message to anyone who is considering an insurance career. A promising look at the five-year future of the insurance industry. Maia's motivating advice to her early-career self.

The Evolution of Captive Insurance with Nick Hentges

Play Episode Listen Later Jan 15, 2025 29:55

Nick Hentges is CEO of Captive Resources, which represents over 6,700 shareholders in 48 member-owned casualty and medical stop loss group captives, with a total annual written premium of $4.7 billion. He has an extensive background in insurance company, brokerage, and captive consulting and management operations. As Captive CEO since 2022, Nick has presided over unprecedented growth in the company's casualty and medical stop loss group captive business. He has been instrumental in supporting the further development and expansion of the Risk Management and Insurance program at the University of Iowa. He has served on the Board of Directors of the Captive Insurance Companies Association (CICA) since 2021, and he holds a BBA degree with majors in Finance and Insurance from the University of Iowa and an MBA from Drake University. In this episode of In the Know, Chris Hampshire and Nick discuss the captive space and alternative risk transfer, the evolving buyer's journey, and the future of the insurance industry. Key Takeaways Nick's career journey from small-town Iowa to global captive leader. Opportunities that can be found in the captive space. Insights into the evolving buyer's journey. Growth at Captive Resources can be attributed to the education of both insurance buyers and brokers. Hiring and retaining great new talent starts with assembling a team that wants to serve the client. Questions that leaders ask when approached with new opportunities. The importance of planning for future transitions years in advance. Nick's take on addressing the retirement issue in the insurance industry. Possibilities in the five-year future of the insurance industry. Nick's encouraging advice to his early career self. Quotes “Captive is an exciting and growing, dynamic field… that is going to change insurance.” “Growth at Captive Resources can be attributed to the education of both insurance buyers and brokers.” “The captive industry has exploded, and more and more people have heard of or know of captives.” “We have a retirement issue in the insurance industry. We've got to get young people into this industry.” “We cannot accomplish what we're hoping to do unless we are willing to change.”

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A 2025 of Service and Growth for the CPCU Society with Sherry McFadden

Play Episode Listen Later Dec 11, 2024 27:44

This episode of In The Know features incoming 2025 CPCU President Sherry McFadden. Sherry recently retired from her position as Director of Enterprise Customer Care in Phoenix, AZ. Throughout her 34-year career with State Farm, she held various leadership roles in human resources, personal lines underwriting, and claims. Ms. McFadden has completed several insurance designations including CPCU, CLU, ChFC, and FLMI. She also holds a Master of Science degree in Human Resources from the University of North Florida and a Bachelor of Science degree in Economics from Tougaloo College, MS. Sherry has served as a member of the executive board of the CPCU Society Leadership Council. She held leadership roles as the past Mountain States governor, past president, and vice president of the AZ CPCU Chapter. She has also served as the current board chair of the Greater Phoenix Urban League, the Western Region Board Trustee with the National Urban League, a member of the National Urban League Council of Board Chairs, and president of her local chapter of the Alpha Kappa Alpha Sorority, Inc. Together with Chris Hampshire, Sherry highlights her progressive career roles and leadership experience, the opportunities that her CPCU designation has provided in her career, and her vision for the CPCU Society in the coming year. Key Takeaways Sherry's path toward the role of 2025 CPCU President. The analytical side of insurance has always appealed to Sherry. Relocating seven times has offered challenges and rewards for Sherry's career. Major changes to the industry over the last three decades. The importance of continuing education in Sherry's career. DEI is an integral part of attracting new talent to the insurance industry. Sherry's involvement in the CPCU Society started with a desire for career movement and a rewarding challenge. As the 2025 CPCU President, Sherry will focus on striving for excellence. Encouragement for anyone who is considering joining the CPCU Society. A look at the future of technology and talent in the industry. Sherry's self-reflective advice to her early career self. Quotes “My CPCU designation has helped me grow professionally, academically, and also as a leader.” “When there's change, there's always risk, but there's also opportunity.” “My CPCU designation is all about career movement and the opportunity to prove my intelligence and my abilities.” “In the CPCU Society, the one thing we all have in common is the pursuit of our designation.”

Unlocking Insurance Careers with Rajesh Narayan

Play Episode Listen Later Nov 27, 2024 25:34

Rajesh Narayan is a seasoned insurance industry leader with experience in driving technology innovation, operations transformation, and business agility. In his early industry roles at Majesco, IDP, and ValueMomentum he has architected and deployed core insurance systems across on-premises, cloud, and SaaS environments. In the last decade, he has taken on global roles at Genpact (AVP, Underwriting Transformation), RMS (Sr. Director, Analytical Services), and Gartner (Senior Director Analyst). In these roles, he has led teams in underwriting transformation, digital-first operational transitions, and new product and distribution strategies and authored research on climate risk, IoT, and emerging technologies in P&C insurance. To help other career seekers in insurance follow a path of continuous education that leads to career building, Rajesh wrote Unlocking Insurance Careers. Today on In The Know, Chris Hampshire and Rajesh consider his career in the insurance industry, his experience with international programs, why he authored a book, and his role at the intersection of technology and insurance. Key Takeaways Rajesh's journey into insurance began with a curiosity about technology. A desire to help people develop their careers led to Rajesh's first book. Key features that drew Rajesh into the risk management and insurance sector. The rapidly evolving role of technology in the insurance space. The globalization of insurance and technology from the viewpoint of a native Indian. The CPCU provides opportunities to continue education and stay relevant. Rajesh shares his motivation to write a book. The potential impact of GenAI on the insurance industry in coming years. Unique offerings for anyone who is considering joining the insurance industry. Possible five-year changes to the future of the industry. Rajesh shares advice for his early-career self. Quotes “All of this was shaped by my early quality experiences with the CPCU.” “This is a thrilling time to be in the execution space where the inflection point of technology is making insurance so much more democratized.” “It's not just the skills or knowledge, it's also the aptitude and the network that you build that defines how far you take your career.” “I just wish I knew about the CPCU Society earlier in my career.”

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Building an Environmental Risk Management Program with James Pruitt

Play Episode Listen Later Nov 13, 2024 30:15

James Pruitt is the Vice President of Risk Management for GFL Environmental and is responsible for the risk management strategy, insurance and captive programs, claims management, and Enterprise Risk Management across North America. He joined GFL in the Fall of 2021 and served as a consultant to the CFO in a risk management capacity from 2018 to 2021. Prior to joining GFL, James was the Vice President of Private Equity Strategy at Risk International, where he was responsible for new business creation within the Private Equity space and led all due diligence strategy and program optimization engagements across the portfolios. He specializes in insurance due diligence, carve-out program creation, and risk management department implementation. James holds an MBA from Indiana University's Kelley School of Business and a BBA in International Finance from the University of Akron. Today on In The Know, Chris Hampshire and James discuss private equity risk management and due diligence as well as unique exposures in the environmental risk management space. Key Takeaways James's initial exposure to risk management eventually led to his career of building out and formalizing an entire program. The exposures of private equity risk management and variations from traditional programs. Exciting and rewarding opportunities unique to the private equity space. Private equity can be the “perfect” model for program efficiency. Major constraints of private equity programs. Key considerations when accepting a new and different role. Who you work with makes all the difference in the success of any position. James highlights the process of assembling a new risk management program. The current state of unique exposures in the environmental risk management space. A strategic five-year look at the future of the insurance industry. James shares practical advice to his early career self. Quotes “The private equity world is definitely different from either stand-alone public or private companies.” “The one factor I always weigh first is who I would be working with.” “The goal for everyone on my team is to make sure you have a conversation with at least one person every day about risk management.” “It takes a long time with a lot of renewals and bumps along the way to make sure that you don't duplicate those errors along the way.” “At the end of the day, people are really there to foster relationships.”

Advocating for Education and Inclusion in the Insurance Industry with Precious Norman-Walton

Play Episode Listen Later Oct 30, 2024 25:14

Precious Norman-Walton is an Account Executive with EG Bowman Co, based in NYC, and the Agent Program Manager for NAAIA (National African American Insurance Association). With over 18 years of Insurance Industry experience, she has served in Personal Lines Claims, Commercial Underwriting, and Agency Management. Prior to her current role, Precious was Director of Underwriting at Harbor AI, VP of Account Management at Insureon, and Chief Operating Officer for Diamond National Insurance Advisors. Precious is a member of the CPCU Society Leadership Council, and was Vice Chair of the 2022 CPCU In2Risk Global Conference. She served as the 2020 President of the Dallas Chapter of the CPCU Society and currently serves as their Programs Chair. Additionally, Precious sits on the Board of the Central Illinois CPCU Chapter, and Insure Equality. This live episode of the In The Know podcast was recorded at RISKWORLD 2024 in San Diego and features Chris Hampshire and Precious as they explore strategies for advocating for education and inclusion in the insurance industry and discuss technology, talent, and the state of the insurance industry. Key Takeaways Hurricane Katrina impacted Precious's decision to pursue a career in the risk management industry. The insurance industry touches every aspect of other industries. Precious was interested in the agent broker space because it is at the point of sale decision-making process. The value of Precious's membership in the CPCU Society. Tactics for bridging the talent gap in the future of the industry. The pipeline is still not providing enough talent to backfill open risk management roles. Attracting non-traditional roles into the insurance industry. The formation and success of NAAIA. Precious's role in attracting talent to the market. The state of inclusion in the insurance industry has plenty of room to grow. The impact of AI on the future of the industry. Networking offerings from a RIMS conference. Precious's experience as a Black female leader in the industry. A five-year look to the future of the impact of technology in the industry. The future of insurance talent and personnel. The importance of relationship building at live and in-person events. Precious offers advice to her early-career self. Quotes “Insurance is a place where you can do well and do good.” “The insurance ecosystem is so much more than claims, underwriting, and sales.” “We aim to provide education, access to markets, and professional development.” “Those who specialize in an area will become more and more indispensable.”

The Importance of Elevating the Adjuster with Nikki Jackson

Play Episode Listen Later Oct 16, 2024 22:42

Nikki Jackson is the Senior Vice President of Strategy & Marketing at MTI America. Nikki is a data-driven strategic executive leader with over 17 years of experience in the property and casualty insurance and benefits delivery industry. During her career, Nikki has affected almost every aspect of the claims management process, working with over 100 Fortune 500 companies, dozens of TPAs and carriers, and countless vendors in various roles from operations to strategy and marketing. She authored the insurance industry's largest academic research study on the talent shortage and is passionate about attracting and retaining talent. She is also the founder of The Work Comp Power Prompt and is active in RIMS, the CPCU Society, and the Alliance of Women in Workers Compensation. On this episode of the In The Know podcast, Chris Hampshire and Nikki discuss technology, talent, and the state of the insurance industry. Key Takeaways Nikki's professional experience has exposed her to all sides of the claims journey. Nikki feels that the industry chose her and she was hired on the spot. The state of technology in the insurance sector is constantly evolving. Techniques for applying new technologies to legacy systems. The impact of AI on the sector and the industry talent. Confronting the changing nature of the industry requires being open to what is coming next. Claims adjusters can use new technologies to complete forms and file claims. The current state of talent in the industry needs to shift away from claiming “accidental careers.” Details of the Elevate the Adjustor blog. Nikki's experience as a female leader and mentor in the insurance industry. The importance of involvement in professional organizations throughout a career. Ideas for finding non-traditional talent to bring into the industry. Educating the next generation of claims adjusters in the era of telework. A look to the future of the technologies that are permeating the industry. The future of in-person conferences. Managed care opportunities are being enhanced by AI. A five-year look to the future of technology and talent of the industry. Nikki's advice to her early career self. Quotes “Technology in the insurance industry is at the point that people need to evolve or they will be stagnant.” “Once you find out what the problem is, then you can look to the technology for solutions.” “The current state of talent in the industry is constantly shifting.” “We need to get out in the community and share what an incredible industry this can be.”

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The Innovation of RiskTech with Jo Lynn Clemens

Play Episode Listen Later Oct 2, 2024 23:18

Jo Lynn Clemens, CPCU, ARM, is the CEO and Founder of RiskKarma.io, a strategic risk intelligence solution to reduce claims and improve workplace culture. Jo Lynn has over 20 years of experience in risk, compliance, and litigation, which includes her role as president of JJC Insurance Services, LLC and her past experiences as an auditor for Underwriters at Lloyds of London, director of legislation and research for Arizona CPCU Society, regional chair for Claim Litigation Management Alliance (CLM), 2010 Delegate Ambassador to China for global Society of CPCU and special examiner to the insurance commissioner of Arizona's Department of Insurance. Jo Lynn has served as a thought leader in artificial intelligence, insurance, compliance, and the future of work. She has also served as an expert panelist and speaker for the CPCU Society, the Claims Litigation Management Association, Arizona State University, and the International Association of Defense Counsel. Live from Risk World 2024 in San Diego, this episode of the In The Know podcast features Chris Hampshire and Jo Lynn for a conversation about the number one topic at this year's RIMS RISKWORLD conference — the possibilities and future of AI. Key Takeaways Jo Lynn's unique and varied journey in the insurance industry. From the perspective of a mother, Jo Lynn is constantly looking at what the future holds and what society looks like. Common litigation topics that can be addressed by AI. Jo Lynn is working to create key risk indicators before risk occurs. Utilizing AI to scrutinize department policies and practices. Diversity quotients can be tracked by AI. Does AI have the potential to truly revolutionize the insurance industry? Addressing common concerns about AI. Increased diversity efforts can help address the talent gap. Jo Lynn's experience as a female leader in the industry. The current state of diversity in the insurance industry. Technology in the insurance sector is improving and has a great future. A five-year look at the future of technology. Overcoming the challenges of technology adoption. Jo Lynn's message to those entering the technology facet of the insurance industry. Quotes “In insurance, you're learning something new every day.” “With the perspective of a mother, I'm looking at what the future holds and what society looks like.” “AI has the potential to truly revolutionize the insurance industry.” “This is just like the industrial revolution. People fear the unknown.” “Diverse corporations not only perform better productivity-wise but the profits have been proven.” “I see exponential change in the future of technology.” “Technology is probably the most needed employment area of our industry.”

Deciphering the Surety Space with Kara Skinner

Play Episode Listen Later Sep 18, 2024 24:22

Kara Skinner is a third-generation surety professional with an extensive background in surety, helping clients understand and obtain surety credit. Over the years, Kara has worked with many surety companies, retail agents, obligees, attorneys, engineers, and contractors. She has managed the surety bond department of a major insurance wholesale brokerage. Kara is a past President of the Surety Association of Washington, a member of the National Association of Surety Bond Producers, and an active member of several committees of other insurance and construction organizations. In this episode of the In The Know podcast, Chris Hampshire and Kara dive into all things surety, including the process of how it works and how the 4,000-year history of surety is shaping the future of the industry. Key Takeaways From ballerina to bonds, Kara is a third-generation surety professional. Surety is a financial product more than an insurance product. The surety process from both the commercial side and performance and payment bonds. An overview of the current state of the surety industry. The most exciting elements of the surety aspect of the insurance industry. Insights into the benefits of being a third generation in surety. Kara's advice for going out on your own, especially as a woman in the industry. Lessons learned from forming her own business, starting with relationships. The value of getting involved in professional organizations. Sharing information about bonds so that everyone can access them. Teaching, for Kara, started as a marketing idea. Kara's advice for anyone considering a career in surety. Being a female CEO in a male-dominated industry. Ideas for better supporting women of color in the industry. Addressing the talent gap in the insurance industry. The future of surety relies on its 4,000-year history, which includes typewriters. A look to the fast-moving future of insurance. Kara's relationship advice for her early career self. Quotes “I like to say that surety is the opposite of insurance.” “The idea in surety is that we underwrite to zero losses.” “Surety is an exciting part of the insurance industry because it's really different.” “Going out on your own isn't for everybody. It's a lot of work, but I love it.” “This is such a unique and different product that everyone needs to know about it.” “I want to get other agents as excited about surety as I am.” “The concept of surety has been around for 4,000 years. It's the most archaic part of the insurance industry.” ‘The future is coming faster and faster, and we need to be ready for it.”

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Embarking on a Career in Insurance with Ben Boas

Play Episode Listen Later Sep 4, 2024 26:36

Ben Boas is an Underwriting Trainee for Markel Specialty's Environmental team in Richmond, VA. He graduated from the University of South Carolina's Darla Moore School of Business in 2023 with a degree in Risk Management and Insurance, with a concentration in Business Analytics. Throughout his academic career, Ben completed various internships with Wholesale & Specialty groups as well as the Philadelphia Insurance Companies. He served as the University of South Carolina's Gamma Iota Sigma chapter president and was a CPCU Society student member. He currently holds an ARM designation from The Institutes and is pursuing both his CPCU and ASLI designations. In this episode of the In The Know podcast, Chris Hampshire and Ben discuss his internship opportunities, how writing has impacted his career, and his experiences as a member of Gen Z entering the insurance industry. Key Takeaways Ben's interest in golf led him to explore Risk Management and Insurance. The internship and full-time position offerings of Gamma Iota Sigma. Ben's experience with WSIA internships was an experience like no other. Key takeaways regarding networking in the insurance industry. A Philadelphia insurance internship allowed Ben to learn more about the marketing aspect of the industry. The role that networking played in Ben securing a position at Markel. The value of earning designations throughout your career. As a CPCU scholarship recipient, Ben began working on his designation before he graduated. Attracting Gen Z talent to the insurance industry by effectively marketing the opportunities. A look at the growing future of the insurance industry. Ben's goals for his career trajectory include emerging trends and an MBA. A five-year look at the growth of technology use within the insurance industry. Ben's advice for his early-career self. Quotes “I felt I needed to give back and show students all of the internship and full-time positions Gamma Iota Sigma has to offer.” “My internship with WSIA was an experience like no other.” “I quickly learned how important the networking aspect is in the insurance industry.” “Always continuing your education really can never hurt.” “I was motivated by people with their CPCUs encouraging me and giving me advice to get mine.” “The CPCU Society offers amazing network opportunities and a whole new community outside of your company.” “Insurance is a lot more fun than it sounds… You can do a million different things in the industry.” “The insurance industry utilizes every industry in business.” “As long as you trust your connections and the people around you and the industry as a whole, you're going to be where you want to be.”

The Future of Insurance Talent with Connor Thomson

Play Episode Listen Later Aug 21, 2024 26:10

Connor Thomson is a second-year law student at Villanova University Charles Widger School of Law. After graduating summa cum laude with University Honors from Saint Joseph's University's Maguire Academy of Insurance and Risk Management in 2022, he matriculated to Villanova University Charles Widger School of Law. In March 2023, at the age of twenty-three, Connor earned the Chartered Property Casualty Underwriter (CPCU) designation and began his tenure at Stickley Law, LLC, a boutique insurance defense firm that specializes in fighting fraud. In this episode of the In The Know podcast, Chris Hampshire and Connor consider what Gen-Z is looking for in the insurance industry, what compelled Connor to earn his CPCU designation at such a young age, and what the future of the insurance industry could look like. Key Takeaways Connor is a law student and one of the youngest CPCU designations ever. Claims is the aspect of insurance that most appeals to Connor. The value of earning a CPCU designation at an early age. The impact of internships on a successful start to the insurance industry. Volunteer work during law school has helped Connor identify his future. Connor's experience on the stage at In2Risk. Ocular disability has impacted, but not limited, Connor's determination to succeed. Writing and researching are key elements of Connor's continued education. Connor's message to Gen Z about a future in the insurance industry. A five-year look at the future of the insurance industry. Connor's advice to his early career self. Quotes “I didn't know much about insurance at the time, but I did a lot of research and learned that insurance is about more than selling policies.” “Claims is the perfect intersection of the law meets business.” “To me, it was an easy choice to pursue the CPCU designation at a very young age.” “There is clearly a dire need for young talent in the insurance industry.” “I think the one strategic business unit that is not getting that much attention is claims.” “The insurance industry has done a great job of investing in the next generation of insurance talent.” “When we get back together in five years, I don't think we'll be discussing this talent shortage anymore.” “There are more people today than ever before making a conscious decision to study risk management and insurance in college.”

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Adopting a Flux Mindset with April Rinne

Play Episode Listen Later Aug 7, 2024 32:28

April Rinne is the opening keynote speaker at the upcoming In2Risk event and is a trusted advisor to well-known startups and companies, financial institutions, nonprofits, think tanks, and governments worldwide. For over two decades, she's been known for seeing emerging trends early, understanding their potential, and helping others do the same. April is a bridge-builder between stakeholders, priorities, business models, markets, and those excited about change and those resistant to it. Not only is she a guide to developing a “flux mindset,” she's also ranked one of the 50 Leading Female Futurists in the world by Forbes. She is a Harvard Law School graduate, a Young Global Leader at the World Economic Forum, a member of the Silicon Guild and Thinkers50 Radar, a Fulbright Scholar, and the author of the international bestseller Flux: 8 Superpowers for Thriving in Constant Change. In this episode of the In The Know podcast, Chris Hampshire and April explore the flux mindset — what it is, how it differs from a basic approach to change, and how it can enhance your career. April touches on the 8 superpowers for thriving in constant change, from seeing what's invisible and getting lost to knowing you're enough and letting go of the future. Key Takeaways April dives deep into the exact moment that secured her passion for a flux mindset. April's perspective on change and how to more effectively approach it. How can we learn to show up better for impending change? An overview of April's 8 superpowers for thriving in constant change. Tackling technology changes in the insurance industry. The alarming role of AI in creating greater uncertainty in the world today. Addressing the industry talent gap through a focus on career growth and evolution. April recalls the advice she would give to her early career self. Quotes “When it comes to change and uncertainty and how we manage risk and figure out where the world is heading, we have to account for the human experience in all of this as well.” “We often treat change like one thing, but change is messy and hard and scary and we hate it. And change is amazing and life-changing and we love it.” “Flux is not just change. Flux is continuous, relentless change.” “If there is going to be more change in the future, how can we learn to show up better for it?” “The more reliant people are on technology, the more people struggle to navigate at a very personal level all of these uncertainties.” “Reconsider how you see the shape of your own career development and evolution.”

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Living By the CPCU Code with Bruce McEwan

Play Episode Listen Later Jul 24, 2024 27:28

Welcome to the 100th episode of the In The Know podcast! Today's guest Bruce McEwan is the principal of PROMANCON, an insurance and risk management consulting organization specializing in management, risk management, conflict management, and related organization change projects. Based in Hawaii, Bruce is a retired executive manager for Young Brothers, Limited, a Marine freight transportation company. During his 29-year career as a risk manager, Bruce identified, analyzed, and evaluated risks and developed plans for mitigating and managing risks of many types. In this milestone episode of the In The Know podcast, Chris Hampshire and Bruce discuss his life as a risk manager, his current work in the consulting world, and his thoughts on the future of the industry, including ways to attract new talent. Key Takeaways Bruce recalls his entrance into the insurance world and CPCU Society. The impressive responsibilities that Bruce oversaw in his early years. Unique challenges of working in the insurance industry in Hawaii. Recognizing the value of the CPCU designation and recruiting employees who hold it. The importance of sharing industry knowledge with others, especially in retirement. Bruce's motivation behind writing his article regarding the CPCU code. Being a professional means upholding the responsibility to develop and maintain needed skills. Tactics for attracting and developing talent to the insurance industry. Bruce's networking advice to his early career self. Key elements of successful risk management programs. Quotes “I recognized that if I was going to be successful as a risk manager, then I best take advantage of the associate courses offered by the institute.” “The Institutes really helped me better prepare myself, not only in insurance but in the other fields I now had responsibility for.” “Students need to be educated about the value of the insurance industry and the roles that they can play and participate in.” “I'm a professional. I have the responsibility to keep abreast of everything and develop and maintain the skills I need to be good at those things.” “We need to get the message across that the insurance business is a service business.” “As you are connecting with other people, take advantage and cultivate relationships that can be helpful in your career.” “Enterprise risk management is a potential game changer because it is a holistic way of implementing risk management into an organization.”

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The Craft of Retail Risk Management with Janet Coffey

Play Episode Listen Later Jul 10, 2024 24:06

Janet Coffey is the Enterprise Risk Global Manager of Michaels Stores, one of the largest arts and craft retailers in the United States. With over two decades of risk management experience, Janet is a graduate of Dallas Baptist University and has served as a director of risk management and a risk management consultant. In this episode of the In The Know podcast, Chris Hampshire and Janet explore the world of risk management, Janet's experiences within the retail sector, and her thoughts regarding the future of the industry and talent development. Key Takeaways Janet's unexpected entrance into the world of risk management. The appealing and evolving nature of risk management and claims. Key changes in the evolution of the insurance industry over the last two decades. Janet's experience as a female leader in the insurance industry. The encouraging and needed evolution of the industry. Successful strategies for attracting new talent into the industry. The value and impact of AI in the future of safety, culture, and the bottom line. The importance of getting involved in professional networking opportunities. The evolving role of risk management over the course of Janet's career. Changing exposures in the retail space in a post-pandemic world. Utilizing information and technology data to make strategic business moves. Janet's advice for anyone considering the risk management track. A look to the five-year future of the insurance industry. Janet's advice and insights from the early years of her career. Quotes “I do believe that the insurance industry is evolving and growing, more on the domestic side than the international side.” “I've seen growth in the insurance industry in my lifetime, and I'm continuing to see it grow.” “When the industry started marketing at the college level, we saw a different level of talent come in.” “I'm excited for the new college graduate to come in and be mentored, especially on the customer service side and the growth side.” “I think we're going to be talking about AI for a long time, and the value it's bringing to organizations.” “I would tell people to touch as many things as you can because I think there is a miss in the industry of too much specialization.”

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The Craft of Retail Risk Management with Janet Coffey

Play Episode Listen Later Jul 10, 2024 24:06

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Digital Transformation in the Insurance Industry with Paul Roderick

Play Episode Listen Later Jun 26, 2024 24:57

Paul Roderick is a digital product owner and operations manager at Midwest Employers Casualty (a WRB company), where he's deeply involved in digital transformation and process improvement initiatives, as well as bringing technical and business colleagues together. Previously, he led a public entity risk management and insurance program, using a technology-forward approach to streamline operations. He is a current member of the CPCU Society's Technology and Innovation Committee. In this episode of the In The Know podcast, Chris Hampshire and Paul discuss the current state of the carrier side of the insurance industry, Paul's experience with working for a public entity, and what he sees happening in the future of risk management. Key Takeaways Working in a family business gave Paul early exposure to a wide variety of aspects of business. Key differences in Paul's transition from the public entity sector to the carrier sector. The wide variety of skill sets required in insurance is what keeps him engaged in the industry. Paul's approach to the need for digital transformation systems in the insurance sector. Tactics for recruiting new talent to the technology facet of the industry. Overcoming common stumbling blocks when leading a digital transformation project in insurance. The benefits of increasing involvement in the insurance community beyond just in your workplace. Paul's experience expanding his knowledge and helping others in the CPCU society. The potential future impact of the digital side of the carrier transformation. Paul's time with a public entity helped to prepare him for his role at a carrier. A look at changes in the future of the insurance industry as a result of AI, coverage and claims, and blockchain offerings. Paul's encouraging advice for his early career self. Quotes “In the carrier space, we like processes, we have procedures, but it's another level in the public entity. You have to satisfy the process before you can do anything else.” “I don't think there are many industries that offer such an opportunity to exercise such a variety of skills on a day-to-day basis.” “When you work in the insurance industry, you're enabling daily life.” “Change management is a huge stumbling block that we as an industry don't pay enough attention to.” “I don't think it's possible to remain competitive in a lot of areas of this industry if you don't successfully adopt technology into all aspects of your operating model.” “It was absolutely critical to my success to make relationships with other individuals and not just make it about an analytical or numbers approach.” “Anytime you can bring in trust and efficiency, everybody's happier.”

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Find Your Personal Power with the Success Doctor, Shirley Davis

Play Episode Listen Later Jun 12, 2024 30:56

Dr. Shirley Davis is the President and CEO of SDS Global Enterprises, Inc., and will be the closing keynote speaker at the In2Risk Conference this fall. Dr. Davis brings a unique background as a seasoned HR and Diversity & Inclusion global thought leader, a senior executive, a certified leadership coach, and a former Chief Diversity & Inclusion Officer for several major Fortune 100 companies. She has worked in more than 30 countries on five continents and delivers more than 80 speeches a year. She is the former Global Head of Diversity, Inclusion, and Workplace Strategies for the Society for Human Resource Management (SHRM) and earned the highest designation in the speaking industry as a Certiﬁed Speaking Professional, bestowed by the National Speakers Association. She holds a Bachelor's in Pre-Law, a Master's in HR Management, a Ph.D. in Business and Organization Management, and is a former Ms. America United States. She is also a featured author for LinkedIn Learning's online course, entitled “Inclusive Leadership.” In this episode of the In The Know podcast, Chris Hampshire and Dr. Davis explore innovative strategies for attracting the best talent, developing future leaders, and enhancing inclusiveness and involvement in the insurance industry. Key Takeaways A lifelong learner, Dr. Davis started in banking and has worked in a wide variety of industries. As a woman of color, Dr. Davis has earned her place at the table as a credible voice and now shares her empowering strategies with others. Bringing your best self to work starts with working at an organization that values great talent. Developing a meaningful life starts with the internal work of finding your personal power. The power of analyzing the “what if” questions that plague all of us. Dr. Davis's advice on the best way to attract new talent to the insurance industry. Developing talent and clearly defining the career path starts with closing the leadership gap. Best practices to enhance inclusiveness and encourage involvement in insurance. Tactics for effectively messaging the value of the insurance industry from a humanitarian perspective. Dr. Davis shares her journey from the corporate sector into her own independent consulting business. The importance of surrounding yourself with people who are going to push you into your destiny. The writing process for Dr. Davis started with her successful speaking endeavors. A five-year look at the future of the insurance industry and the demand for entrepreneurship. Dr. Davis reflects on the risk-taking approach she wishes she would have taken in her career. Quotes “It has certainly been a journey to get a seat at the table, becoming that person that is heard, seen, and perceived as credible.” “[Bringing your best self to work] starts with working at an organization that really does value great talent.” “In order to get a seat at the table, I've got to do some things for myself first.” “Every one of us wants meaning and significance. Every one of us wants to feel like we are being fulfilled and living our best life.” “Understanding what this next generation of talent needs and what their expectations are and understanding what they are asking for is very, very important.” “Relationships are the new currency. You've got to get around people who are not afraid of your BHAG.” “We want to hear from people who are going to push us into our destiny.”

Claiming Resilience in the Insurance Industry with Kristi Fox

Play Episode Listen Later May 29, 2024 28:02

Kristine A. Fox, CPCU, AIC-M, ARM, AIC, API, AINS, SCLA-Gold, is the Midwest regional claims manager for the Property Americas Division of Sedgwick, where she organizes deployment of field resources and oversees client accounts. Fox has over 20 years of experience in property-casualty claims, ranging from homeowners and auto losses to general liability, and has also supervised commercial trucking liability claims. She is a past president of the Omaha CPCU Society Chapter. In this episode of the In The Know podcast, Chris Hampshire and Kristi discuss all things claims, from the onset of Kristi's career to the future of claims, how she has pivoted to become an engaging resilience speaker in the industry, and how to more effectively attract talent to the claims space. Key Takeaways A help-wanted ad evolved into Kristi's 20-plus-year career in insurance. The helpful aspects of the insurance industry that first appealed to Kristi. Kristi's message of caution and encouragement for anyone who is considering a career in claims. The evolution of training tactics in the industry. Offerings that currently have the biggest impact in the claims space. Major technology initiatives that are enhancing the claims experience. Defining resilience as a critical component of the insurance industry. Claims handling and adjuster expectations as they have evolved over the years. The impact of involvement in the CPCU Society on Kristi's career. A five-year look at the future of the insurance industry. Kristi's long-view advice to her early career self. Quotes “What a lot of people don't think about with insurance is that we are in a helping world.” “I know that I'm having a positive impact on people and helping them through something really difficult.” “There is a place for technology, and the more we can utilize it in the right ways, we'll become more efficient, but there is still the human component that is going to be needed.” “I've really appreciated the consistent focus on growing, developing, and learning as our careers progressed.” “The human component is still going to be essential in the future of the industry.”

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Litigative Problem-Solving in the Insurance Industry with Matthew Swafford

Play Episode Listen Later May 15, 2024 25:59

Matt Swafford is Senior Litigation Counsel at Shelter Insurance Companies, where he manages litigation across the United States for Shelter and affiliated companies and provides general counsel to Shelter's claims branches. He practiced law in Kentucky for over ten years with a focus on insurance, business, and employment litigation, clerked for Justice Will T. Scott at the Supreme Court of Kentucky, and was a Staff Attorney for Jefferson County Circuit Court Judge Barry Willett. At Northern Kentucky University – Salmon P. Chase College of Law, Matt graduated in the top ten percent of his class; was a member of the NKU Law Review's Editorial Board; and interned for William O. Bertelsman, Federal District Court, Eastern District of Kentucky, and the United States Attorney's Office for the Southern District of Ohio. Matt is licensed to practice in both Kentucky and Ohio (inactive), holds the Institutes' Chartered Property Casualty Underwriting CPCU designation, and is pursuing a Master's Degree in Insurance Management at Columbia University in the City of New York. In this episode of the In The Know podcast, Chris Hampshire and Matt consider the pros and cons of litigative problem-solving in the insurance industry, how it differs from the law firm environment, and what the future of the industry may look like from a legal perspective. Key Takeaways Matt recalls how much he had to learn about insurance in the early days of his career. Transitioning from a law firm to in-house counsel at an insurance carrier. Appealing offerings from the Columbia Master's Degree in Insurance Management. The self-serving reason behind and benefits of Matt's CPCU designation. Networking opportunities that have resulted from Matt's CPCU designation. Key differences between a carrier and a law firm environment. Hallmarks of an effective outside counsel-carrier relationship. What Matt wishes other departments knew about the carrier legal group. Best practices to mitigate the impact of social inflation. Key takeaways from Matt's time working outside a traditional law firm. Addressing the talent gap in the insurance industry. A five-year look at the future of the industry. Matt's advice to his early career self. Quotes “The thing I learned when I first started practicing [insurance defense] was how very little I knew about insurance.” “I really wanted a business background and felt like I needed it to move forward in an in-house role.” “Communication is number one. You want to keep open lines of communication and communicate often.” “I can see how these kinds of cases play out and still not be the one who is carrying the pressure and the weight of trying to reach a successful resolve.” “Sometimes law firms can be a very competitive, dog-eat-dog environment, and it's just not like that in-house.” “Learning how technology works in the insurance industry is going to be absolutely critical moving forward.”

Why Managed Care Matters with Joe Paduda

Play Episode Listen Later May 1, 2024 22:26

Joe Paduda is the principal of Health Strategy Associates and the author of the thought-provoking Managed Care Matters blog. He is also the president of CompPharma, LLC, a research and consulting firm dedicated to improving pharmacy programs in workers' compensation. In 2012, Joe received IAIABC's President's Award for his efforts to address the opioid problem in workers' compensation. He currently participates in the “Comparative Effectiveness of Two State Payer Strategies to Prevent Unsafe Opioid Prescribing” research project funded by the U.S. Department of Health and Human Services' Patient Centered Outcomes Research Institute. Before starting his consulting business in 1997, Joe held executive positions with major insurers, including Travelers, United Healthcare, and Liberty Mutual, and earned a Master of Science degree in Health Management from American University. In today's episode of the In The Know podcast, Chris Hampshire and Joe dive into the current state of the workers' compensation space, positive changes that have already been made, and where the industry needs to go from here to remain relevant and successful. Key Takeaways Joe highlights his career path in the workers' comp sector. Appealing aspects of the workers' compensation space. The role of functionality is the efforts of workers' comp. Three primary sectors that turn to workers' comp and what they are looking for. Insights into the current positive state of the workers' compensation industry. The dangers of underinvesting in technology in insurance. Major post-pandemic changes to the workers' comp industry. The current climate of activity in the regulatory environment. Insights from the evolution of the Managed Care Matters blog. Joe's thoughts on the pros and cons of workers' comp conferences. The future of workers' compensation, according to Joe. Strategies for attracting quality talent to the insurance industry. A five-year look at the future of the industry. Joe's advice to his early-career self. Quotes “Workers' comp is the only healthcare system that cares about functionality.” “In workers' comp, we care about the health part of healthcare.” “Good medical care drives positive outcomes.” “The more there is honest debate around a lot of topics, the better off we're going to be.” “I hope people will get more conversant with and invest more intellectually in what's driving the healthcare system.”

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The Evolving Homeowners Market in Florida with Melissa Burt DeVriese

Play Episode Listen Later Apr 17, 2024 25:28

Melissa Burt DeVriese is the President at Security First Insurance Company. She has been with Security First Insurance Company since 2009 and has been President since March 2020. Before serving as President, she held a variety of roles, including Chief Administrative Officer and General Counsel. Melissa holds an undergraduate degree from the University of Miami and a Juris Doctorate from Georgetown Law Center and is a licensed attorney in Florida, Washington D.C., and California. Before working at Security First, Melissa held a variety of legal and regulatory roles in Washington D.C. In today's episode of the In The Know podcast, Chris Hampshire and Melissa discuss the state of the homeowners market in Florida, attracting more talent to the industry, and unique challenges Melissa faces in her role. These onsite episodes of the In The Know podcast are brought to you by Gallagher Bassett. Key Takeaways Melissa recalls her journey from law to insurance. Overcoming shortcomings in marketing the insurance industry. Melissa's experience as a female leader in the industry. Effectively keeping up with technologies from a small carrier's perspective. Industry evolutions in recent years, including diversity and attracting talent. Tactics and strategies for attracting and retaining personnel. The evolution of distribution strategies for both direct and agents. The current state of the unique Florida insurance marketplace. Key differences in approaching the Florida marketplace. Technology's role in the future from the underwriters' standpoint. Melissa's experience with the CPCU, insurance board, and education involvement. Messaging that needs to be shared with the rising generation of talent. Hiring insights and career progression from a president's perspective. A five-year look at the future of the insurance industry. Melissa's advice to her early career self. Quotes “There are many similarities between the law and insurance.” “Unfortunately, I think insurance is viewed as very stale and old and probably male. And the fact of the matter is, that's not the case.” “We have so much innovation in the industry space.” “If we find the right person with the right aptitude and the right attitude, we teach them insurance.” “From an insurance marketplace perspective, Florida is incredibly unique.” “The most important thing you can stress to someone who's looking for a career at any stage of their career life cycle would be what insurance does in society.”

Uncovering Actionable Insights in Insurance with Sandip Chatterjee

Play Episode Listen Later Apr 3, 2024 23:50

Sandip Chatterjee is the Executive Vice President of Client Management & Innovation at MedRisk, leading the Account Management organization. He also leads the Product & Innovation for MedRisk where he is responsible for the creation of new solutions to drive improved experiences and outcomes for MedRisk Customers and Partners. Prior to joining MedRisk, Sandip was a Managing Director at Marsh McLennan leading the Analytics Delivery Organization for North America. Sandip has 20-plus years of experience in insurance and building and launching disruptive solutions to drive business growth and profitability. In today's episode of the In The Know podcast, Chris Hampshire and Sandip discuss analytics, highlight the impact of advanced technology in the insurance space, and offer updates on managed medical in the workers' compensation segment. Key Takeaways Sandip highlights the background of his insurance career. The appeal of the data analytics sector of the industry. Key data interpretation differentiators between a TPA, broker, and managed medical provider. Sandip's advanced approach to analyzing data. The evolution of “Big Data” analytics in the insurance industry in recent years. The role of generative AI in using existing data to create new data. Strategies for effective partner collaborations that drive better business decisions. Sandip reflects on his experience as an analytic expert in the insurance industry. Analytics is a powerful tool, but it is only one of many tools available. Sandip addresses the talent shortage in the insurance industry. A five-year look at potential changes to the data analytics aspect of the insurance industry. Sandip shares the advice he would have liked his early insurance industry career self to know. Quotes “Each of these industries within insurance is answering different types of questions.” “The data is good, but it only tells you part of the story.” “There are more tools and solutions available… and better ways of analyzing the data itself.” “It is becoming easier to use existing data to create new data.” “There are a lot of different things that are happening in the data world today that are very, very exciting.” “Analytics is a very powerful tool, but it is one of many tools.” “There is a very strong purpose behind the insurance industry. We are trying to put life back together.”

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Cultivating Leadership in Insurance with Michael Koscielny

Play Episode Listen Later Mar 20, 2024 31:08

Michael Koscielny, MBA, CPCU, CIC, ARe, AIC, API, AIS, AINS, is chief executive officer and founder of Born2Lead, LLC. He has over 40 years of experience creating effective teams and innovative processes for underwriting and pricing for various insurance companies. He currently serves as Director of Marketing for Graduate Programs at The University of Olivet. He is an instructor for The National Alliance CISR and CIC designations and a Facilitated CPCU Study Group Leader for The Institutes. Koscielny has held many roles for The Institutes CPCU Society, including 2017 global president of the CPCU Society Leadership Council, 2017‒2018 President of the Underwriting Executives Council, and 2023 President of the Society of Insurance Trainers and Educators. He has written numerous articles and given many presentations. He published his first book Born2Lead: Lessons in Leadership, in 2023. In today's episode of the In The Know podcast, Chris Hampshire and Michael discuss his new book, the importance of training the next generation of leaders in the insurance industry, and the many mentorship and training experiences that led to success throughout his career. These onsite episodes of the In The Know podcast are brought to you by Gallagher Bassett. Key Takeaways Michael shares his unexpected journey into the insurance industry. Insurance became his calling when Michael realized that insurance serves as the next responder in natural disasters. An overview of the unique demands of the Florida insurance market. The “why” behind Michael's short-lived retirement from the insurance industry. Writing a book successfully starts with not telling anyone that you're writing a book. Michael shares additional steps to effectively writing and publishing a book. Born2Lead highlights 13 attributes that address the reality that behaviors are not natural, they are learned. Michael shares his experience with trust, one of the essential attributes that is outlined in his book. Strategies for effectively training people and developing leaders. Instilling leadership qualities in others starts with giving them opportunities they wouldn't have otherwise. Benefits of membership and active participation in the CPCU Society. For Michael, initial leadership opportunities were met with hesitation but additional training and mentorship led to success. Michael reflects on what he wishes he would have known at the onset of his career. Quotes “When there is a natural disaster, the first people there are the first responders. And when they leave, who's next?” “Most of the people I know in this business really care about the people they serve.” “There is a real need in our marketplace today for teaching leadership skills to emerging leaders.” “Acknowledge people, and not just the negative things they do.” “When someone does a great job, I want everyone in the organization to know.” “We're all born to lead, it's just a choice we have to make.” “As I made those steps in my career, more opportunities came to me in my work life.”

Insurance as a Public Service with Rosa Royo

Play Episode Listen Later Mar 6, 2024 24:04

Rosa Royo is the Director of Worker's Compensation and Loss Prevention at Miami-Dade County Public Schools. A graduate of Barry University, Ms. Royo has been a Risk Manager for over 30 years and has specialized in Worker's Compensation for the last 20 years. She is employed by Miami-Dade County Public Schools and supervises a high-volume customer-service-driven worker's compensation program. In 2016, she relaunched the Rebuilding Me program to include providing athletic trainers, meditation, and cooking demonstrations to the district's transportation yards, resulting in a reduction in claims of 61% over three years. In 2018 and 2022, Ms. Royo was recognized by Risk and Insurance magazine as a Risk All-Star. In 2019 she was a Comp Laude honorable mention and a Business Insurance Woman To Watch. She was awarded the Rosa Royo Legacy Award in 2023 by Bloom magazine. Under her leadership, the program was honored with its second Theodore Roosevelt (Teddy) award in 2023. In today's episode of the In The Know podcast, Chris Hampshire and Rosa discuss the role that effective risk management plays in one of the nation's largest school systems, the importance of incentives and education in employee engagement, and key components of the bright future of the insurance industry.

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NAAIA and Diversifying the Insurance Industry with Omari Aarons-Martin

Play Episode Listen Later Feb 21, 2024 33:48

Omari Aarons-Martin is the Executive Director and Chief Operating Officer of the National African American Insurance Association, a 2,100-member 501c6 organization that works to diversify the insurance industry and provides professional development programming to its members. A champion of workplace inclusion and equity, Aarons-Martin has received recognition from Insurance Business America, the Greater Boston Chamber of Commerce and Business Equality Magazine for his leadership and volunteerism. He is a member of the Board of Directors for Big Brothers Big Sisters of Eastern Massachusetts and common cathedral, an outdoor congregational community for the unhoused, and serves on the Board of Trustees at Roxbury Community College. Aarons-Martin earned a Bachelor of Arts degree from Xavier University in Cincinnati, Ohio and Master of Divinity cum laude in Global and Community Engagement from Boston University School of Theology where he was a Howard Thurman Fellow and served as President of the Association of Black Seminarians. In today's episode of the In The Know podcast, Chris Hampshire and Omari discuss the current and possible future state of DEI in the insurance workplace, the role that NAAIA is playing in training and connecting African American members of the industry, and the need for increased collaboration and connection across all facets of the insurance industry. These onsite episodes of the In The Know podcast are brought to you by Gallagher Bassett. Key Takeaways Omari recalls his personal invitation into the insurance industry. The most appealing aspect of the industry was his transferable skills. The role that seminary theology training has played in Omari's career. Inclusion in the insurance industry is increasing at a promising rate. DEI at the C-suite level is still a work in progress. At NAAIA, members have access to extensive training and development. Attracting new talent through professional development offerings for African Americans. Tactics for better supporting and fostering professional DEI relationships. Benefits of the accessibility of in-person versus virtual meetings. The importance of collaborating and sharing ideas with your professional circles. A five-year look at the future of the insurance industry. Omari shares a few of the many things he would have liked to know at the onset of his career. Quotes “I now understand central motivation, what brings people to the table and what they really care about.” “We've seen a lot of activity around diversity, equity, and inclusion — more conversations and more transparency.” “There is still much more [DEI] work that we need to do as we look at CEOs, C-suite, senior manager roles to see inclusion really take hold.” “We know that the way people move through the industry is in relationships.” “Starting with an audit and assessment of the [DEI] environment where you are is key.” “Finding the right solutions to close the [DEI] gap is really important.”

The Transformative Retail and Wholesale Market with John Howard

Play Episode Listen Later Feb 7, 2024 28:43

John M. Howard is chairman and CEO of Truist Insurance Holdings where he oversees the retail and wholesale insurance businesses. He has three decades in financial services and currently serves as executive sponsor of the SERVE (Supporting Emergency Responders & Veterans Engagement) Business Resource Group at Truist. He is chairman of the board of both The American College of Financial Services and The Institutes, board officer secretary for the Council of Insurance Agents & Brokers, an overseer of the Maurice R. Greenberg School of Risk Management, Insurance and Actuarial Science at St. John's University, and a member of the Insurance Policy Committee of the Board of Governors of the Federal Reserve System. Additionally, he is a prior chairman of the board of trustees of Gill St. Bernard's School, and recipient of the Hall of Fame Award from the Tri-County Scholarship Fund. Howard earned a bachelor's degree in economics from Columbia University and an MBA from Duke University and is a U.S. Navy veteran. In today's episode of the In The Know podcast, Chris Hampshire and John discuss the transformative retail and wholesale market, the changes that have impacted the insurance industry, and how an unconventional path has benefitted his career, from his days in the Navy to his current role as CEO. These onsite episodes of the In The Know podcast are brought to you by Gallagher Bassett. Key Takeaways John shares the unconventional career path that led him to his current position. Doing deals was initially more interesting to John than insurance itself. John's approach to transitioning from carrier to broker. A CEO's perspective on effectively building company culture. Evaluating whether an insurance brokerage company is a good cultural fit. Characteristics for new hires don't have to follow a conventional path. The CEO role has not always been what John initially anticipated. Key communication and education skills that apply to a wide variety of constituencies. John's involvement at the Institute professional organization at the volunteer level. “Never stop learning” – John's advice about continued education. Attracting new talent to the industry starts with embracing diversity and highlighting opportunities. The value of mentors in crafting a successful career. John's view on the transformative advent of technology in the insurance industry. The impact of technology on the brokerage community. Insights into current and future changes in the wholesale space. A five-year look at the future of the insurance industry. The advice that John would have benefited from in his early career.

Giving Back through Insurance Education with Teresa Chan

Play Episode Listen Later Jan 24, 2024 28:12

Teresa Chan is the Director of the Master's in Insurance Management program at Columbia University. She launched the program in 2019 after 27 years of insurance industry experience in legal, product, and business development. Prior to joining Columbia, Teresa was an advisor on the formation of MGU start-ups funded by Willis Group that leverage emerging technological capabilities to underwrite specialized markets on digital platforms and a consultant for energy performance warranty insurance. Teresa has a J.D. from Fordham University and a B.S. in Operations Research from the School of Engineering and Applied Science at Columbia University. She has been recognized by Business Insurance as one of “25 Women to Watch” and by ReActions Magazine as one of the “Top Insurance Women.” In today's episode of the In The Know podcast, Chris Hampshire and Teresa take a look at the value of giving back through insurance education. Teresa highlights her experience with transitioning from the corporate world to starting up an educational program at Columbia, the current state of the industry DEI, and her satisfying experience as a female leader in insurance. These onsite episodes of the In The Know podcast are brought to you by Gallagher Bassett. Key Takeaways Teresa highlights her career path from engineer to law school and eventually insurance. Characteristics of the insurance industry that appealed to Teresa initially. Teresa's approach to learning about a new topic, including product development. Top learning experiences from 27 years of experience. Bringing innovation to the new Insurance Management program at Columbia. Transitioning from a stable corporate job to starting up an educational program. The current state of DEI in the insurance industry compared to the onset of Teresa's career. Teresa's experience as a female leader in the insurance industry. Strategic tactics to address the talent gap in the industry. A five-year look at the future of the insurance industry.

Managed Care and Evidence-Based Medicine Support with Jen Cogbill

Play Episode Listen Later Jan 10, 2024 24:26

Jen Cogbill is the Senior Vice President of the GBCARE Advisor Team at Gallagher Bassett. With over 28 years of experience in the insurance industry, Jen currently directs GBCARE Advisor team strategies and training initiatives for the Gallagher Bassett Client Services and Claim Operations team. Her responsibilities include client engagement, industry presentations, data analytics, and review of integrated products and services. She acts as a liaison between the client servicing team, the product development team, and managed care operations to optimize products and service offerings. In today's episode of the In The Know podcast, Chris Hampshire and Jen discuss the role of medical management in the workers' compensation sector, the evolving state of the medical management sector in a post-pandemic world, and other key issues that are impacting the medical space in today's insurance industry. Key Takeaways Jen reflects on her early career goals and the opportunities that led her to her current position. The appeal of workers' comp in supporting a company's brand, reputation, and financial success. An overview of the role of medical management in the workers' compensation sector. The evolving state of the medical management sector in a post-pandemic world. Defining evidence-based medicine support and the role it plays in workers' comp. Recent changes in the world of medical management data. Top issues that are currently impacting the medical space nationwide. Jen's advice for new managers as they begin leading teams. Jen shares her experience as a female leader in the industry. Tactics for attracting future talent into the insurance industry. A five-year look at the future of the insurance industry. Jen shares what she wishes she would have known at the onset of her career.

defining tactics senior vice president evidence based medicine managed care in the know gallagher bassett

An Inclusive and Engaging 2024 for the CPCU Society with Traci Adedeji

Play Episode Listen Later Dec 20, 2023 28:12

Traci Adedeji is the incoming 2024 President and Chair of The Institutes' CPCU Society and works as a Vice-President at JP West, Inc., where she heads the firm's personal and small commercial lines insurance operations. Her insurance career began in 1984, and her experience includes leadership roles with several national carriers. Her professional affiliations include membership in the Society for Insurance Trainers & Educators (SITE) and the National African American Insurance Association (NAAIA) — Boston chapter, where she serves as a board member. In addition to CPCU, Traci holds the Institutes' ARM, API, and AIDA designations, and IRMI's TRIP designation. In today's episode of the In The Know podcast, Chris Hampshire and Traci discuss the current state and future possibilities of the CPCU Society, the challenges facing the insurance industry, the power of diversity in a successful career, and the vision Traci has for the CPCU Society in the coming year. These In2Risk 2023 onsite episodes of the In The Know podcast are brought to you by Gallagher Bassett. Key Takeaways Traci highlights her career journey toward becoming the 2024 President and Chair of The Institutes' CPCU Society. Traci's “selfish” vision for the CPCU Society in 2024. An honest assessment of the post-pandemic challenges of the society. Addressing the talent gap in the insurance industry. Traci's message regarding the benefits of involvement in the CPCU Society. The value of networking within the CPCU Society. Diversity of thought has been a key component of Traci's successful career. The state of diversity in the insurance industry. Traci's vision of success as the 2024 CPCU Society president and chair. Students play a critical role in the success of the future of the insurance industry. The value of mentoring and service in a successful career. Traci's daughter has joined the industry and has opportunities to grow as a leader. A five-year look at the future of the insurance industry. The advice Traci would offer her early career self.

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Leading the Lumber Mutual Insurance Industry with John Smith

Play Episode Listen Later Dec 6, 2023 27:29

John Smith is President and Chief Executive Officer at Pennsylvania Lumbermens Mutual Insurance Company (PLM). With more than 40 years in the insurance business, he was a property underwriter at Aetna Casualty, a branch manager at CNA, and the Northeast Regional Vice President at General Accident. John has served on the Board of Directors of both PLM and Indiana Lumbermens Mutual Insurance Company (ILM) since the companies affiliated in 2013 and has served on many boards of directors including the National Association of Mutual Insurance Companies (NAMIC), the Insurance Society of Philadelphia (ISOP), The Institutes, and the Hardwood Federation. John was awarded the 2018 Distinguish Leadership Award from the Insurance Society of Philadelphia (ISOP), the 2019 Chairman's Award from the National Association of Mutual Insurance Companies (NAMIC), and a 2020 Franklin Award given by ISOP and The Institutes CPCU Society. In today's episode of the In The Know podcast, Chris Hampshire and John discuss the steps to building a career you love, the importance of team building and diversity, and what it takes to succeed in today's insurance industry. Special thank you to the Pennsylvania Lumbermens Mutual Insurance Company (PLM) for being a generous annual partner of The Institutes CPCU Society. Pennsylvania Lumbermans Mutual Insurance Company Key Takeaways John started his prestigious insurance career not knowing what an underwriter was. Transitioning from a stock company to a smaller mutual company. A great team, hard work, and a lot of luck are John's keys to success. The skills John looks for when he's hiring a new member of his team. Creating a clear career path through training, education, and mentoring. Instilling a company culture from the CEO's perspective. Working for a smaller company can have a big impact on a career. The state of technology in the insurance industry today. A look at where the industry is heading in the future. Taking charge of your career to craft the story that you want to tell about your work. John's advice to his early career self was to get to the corner office. The importance of diversity in a successful company.

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Eliminating Hidden Costs in Workers Comp Programs with Brian Chance

Play Episode Listen Later Nov 21, 2023 24:05

Brian Chance is a Senior Vice President, Claims and Risk Manager in the Cost Based Efficiency division at Stephens Insurance, LLC. In this role, he engages with clients to develop strategies to eliminate hidden costs inside their workers' compensation programs. Brian has 30+ years of experience in the insurance industry with a focus on large employer self-insured workers' compensation programs. He specializes in developing processes to identify, quantify, and eliminate hidden costs in large workers' comp programs. Brian holds an MBA from Drexel University in Philadelphia and a bachelor's degree from Rutgers University as well as CPCU and AIC designations. He currently serves as Past President of the National Retail and Restaurant Defense Association. In today's episode of the In The Know podcast, Chris Hampshire and Brian take a look at the workers' compensation and claim spaces and the broker's perspective on all that is currently happening in workers comp. Key Takeaways Brian reflects on the decisions that led him to working in workers' compensation. Transitioning into the broker and claims side of the business. Crafting an effective workers' comp program with each client. Details of a cost-based efficiency approach to workers' comp. Key improvements to the workers' comp industry over the last decade. Mitigating the costs of medical workers' comp claims. Steps of a brokerage perspective on approaching claims. Brian's decision to become an instructor in risk management. Utilizing AI data to improve decision-making and increase desired results. Ideas for articulating the value of the insurance industry to new talent. Advice for anyone who is considering a career as a claim rep. A five-year look at the future of workers' compensation technology. Brian's kind advice to his early career self. Quotes “Having those physical labor relationships in my life and growing up doing those things myself, I really appreciated what it must be like for an injured worker to basically have their livelihood at risk.” “The most important component of any workers' comp program is the focus on the injured worker.” “We're in the position to make sure the injured worker doesn't make decisions out of fear or worry.” “We have developed metrics that evaluate the cost of a workers comp platform.” “The incentives to do the wrong thing have started to go away in the industry.” “I became an instructor because I wanted to impart the knowledge I've gained growing up in the industry. Because it's a great industry.” “Claims handling is as much an art as it is a science.”

Creating a Safer Outdoor Workplace with Ann Mason

Play Episode Listen Later Nov 8, 2023 16:53

Description: Ann Mason, WCLA is TruGreen's National Workers Compensation Manager. With 35 years of experience in the insurance industry, Ann began her career in 1988 as a claims adjustor. She quickly rose through the ranks and enjoyed roles in claims support, office administration, and human resources. Ann played a pivotal role in establishing quality control standards for an independent medical exam company and helped a private investigation team achieve prominence. In 2008, she began a four-year term with the New Hampshire Adjustors Association, culminating with serving as president and on their board of directors. Ann joined TruGreen in 2009, became their national workers' compensation manager in 2014, and now works to develop strategies that create a healthier workforce and decrease claims volumes and higher claims-closed ratios. Ann is a 2023 Teddy Award recipient. In today's episode of the In The Know podcast, Chris Hampshire and Ann explore the workers' compensation aspect of the insurance industry, her strategic advice for vertical movement in insurance, and a look at the possibilities of the industry's future. Key Takeaways Ann highlights her passion for working in workers' compensation. The best parts of workers' compensation, TruGreen, and injury exposures in their program. Ann's approach to assembling an effective workers' comp program. The initial challenges of creating a workers' comp program and their creative solutions. Ann's experience as a 2023 Teddy Award recipient. Strategic advice for vertical movement in the insurance industry. The value of working with a mentor in the industry. Working as a female leader in a traditionally male-dominated industry. The changing role of data in workers' compensation. Addressing the talent shortage by highlighting opportunities at a high school level. Ann's five-year look at the impact of AI in the insurance industry. “Hard work pays off” — Ann shares the key to her successful career. Quotes “I've always had my hand in the workers' comp arena because I love it. I love helping people.” “We talk about injuries all the time to determine how we can eliminate those kinds of injuries moving forward and what we missed.” “I never saw myself as a person winning an award because I just did my job.” “I watched along the way and aspired to be the next person on the next step up.” “I don't always consider myself a leader, I just do my job.” “If I'm helping people, that's just part of the job and it comes naturally.” “Being able to leverage data in coming years is going to be phenomenal.” “Hard work pays off. It really does.”

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Bermuda and the Excess Market Sector with Shannon Totten

Play Episode Listen Later Oct 25, 2023 24:36

Shannon Totten is the Executive Vice President and Head of Retail Excess Casualty Insurance, Sompo International, North America. She joined the Excess Casualty department of Endurance Specialty in 2003, later acquired by Sompo in 2017, as a Vice President and took on increasing responsibilities including Bermuda Business Unit Leader. Prior to joining Endurance, she worked for AIG as an excess casualty underwriter for Starr Excess Insurance Bermuda as well as American Home in New York. She is a graduate of the University of Georgia's Risk Management and Insurance program where she currently serves as an advisory board member. In today's episode of the In The Know podcast, Chris Hampshire and Shannon discuss Bermuda and its impact on insurance, Shannon's volunteer work, and key issues that are impacting the excess space. Key Takeaways Shannon highlights the early years of her career path from small-town Georgia to Bermuda. “A small town on steroids,” Shannon describes her Bermuda insurance experience. Considerations for those who are facing the expat life. Life in Bermuda offers a global marketplace with a beach in the backyard. Shannon shares what led her to the excess markets field. Factors for those who are considering a career in the excess markets sector. Key issues that are impacting the excess space. The future of exposures and how to approach them in the excess space. Shannon's experiences as a female executive in the insurance industry. Addressing the talent gap starts with more creativity in recruiting talent. The importance of being actively involved in professional organizations and leadership roles. A five-year micro-level look at the excess markets in Bermuda. Remote working is an excellent option for those who don't want to work in the city. Shannon's advice to her early career, technical skills oriented self.

Becoming a Risk and Insurance All Star with Megan Angus

Play Episode Listen Later Oct 11, 2023 26:23

Megan Angus is the Western Senior Claims Manager for Sodexo, a worldwide industry leader in food service and facility management, where she is responsible for managing the oversight of the workers' compensation claims. Megan has over 11 years of experience in workers' compensation with an emphasis on California and is an ambassador for the Alliance of Women in Workers' Compensation. She has a bachelor's from The University of Alabama and an Associate in Risk Management (ARM). In today's episode of the In The Know podcast, Chris Hampshire and Megan converse about what it takes to become a risk and insurance all-star. Megan was named a 2023 Risk and Insurance All Star, an honor given to risk managers who display perseverance, creativity, and passion in building solutions that affect lives and bottom lines. Key Takeaways Megan highlights her career path and the jagged line that led her into insurance. The decision process of transitioning from insurance carrier to risk manager. The complexity of the workers' compensation realm appeals to Megan. Megan's approach to assembling an effective workers' comp program at Sodexo. Details of Megan's strategies to mitigate cumulative trauma claims. Metrics for measuring the success and impact of a settlement. The process of becoming a 2023 Risk and Insurance All Star. Megan's experience with diversity as a leader in the insurance industry. Tactics for attracting new talent into the industry. Possibilities in the five-year future of workers' compensation and the industry as a whole. Megan shares her forward-thinking advice to her early-career self.

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Taking the Leap Into InsurTech with Dimitrius King

Play Episode Listen Later Sep 27, 2023 24:51

As Pie's first Chief Claims Officer, Dimitrius King is responsible for leading and implementing the company's claims strategy. Over the past 15 years, Dimitrius has held various strategic and claims leadership roles in both personal lines and commercial lines at Liberty Mutual and The Hartford. In today's episode of the In The Know podcast, Chris Hampshire and Dimitrius discuss his shift away from one of the largest insurance organizations in the world into insurtech, claims, and Dimitrius's commitment to improving DEI in the insurance industry. Key Takeaways Dimitrius shares the career path that gave him exposure to several aspects of the industry. Transitioning from a large, established organization to a smaller company. Questions to ask yourself when approaching a major transition. Tactics for effectively enhancing a company culture. Building a foundation for an organization that can expand into the future. The current state and future of the role of insurtech. Dimitrius shares his message for people who are considering a career in claims. The impact of new technology in the claims space. Strategies for better communicating the insurance industry's value proposition. The importance of DEI efforts in the insurance industry. Dimitrius's advice for attracting new talent to the industry. Micro to macro level, a look at the future of the insurance industry. Dimitrius shares his advice to his early-career self.

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The Post-Career Phase with Greg Massey

Play Episode Listen Later Sep 13, 2023 28:23

Description: After 39 years on the carrier side of the industry, Greg Massey retired from Zurich and launched GJM Advisors, LLC in 2022. Now he provides Property & Casualty product, strategy, portfolio management, education, and leadership advisory & consulting. In today's episode of the In The Know podcast, Chris Hampshire welcomes Greg for a conversation about the post-career phase of life. As soon as he retired, Greg found himself entertaining offers for consulting, advising, and staying active in the insurance industry. He highlights the variety of work that he has done, how the industry can better attract and retain talent, and his advice to take more risks in the earlier stages of a career. Key Takeaways Greg highlights his career and his experience with post-retirement job offers. Career growth opportunities in the program space. Market changes in the capital that is going into the program space. Addressing the talent gap across the insurance industry. Industry adaptations to talent over the years of Greg's career. Greg's dedication to the CPCU Society has impacted his career in positive ways. Stepping back from a main career and into a consulting role in the industry. Tactics for attracting new talent into the insurance industry. Greg's recommendations for effectively training new talent. A five-year look at changes and improvements in the industry. Greg's early career advice and assurance to himself.

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What Firefighting Can Teach Insurance about Safety with Tom Budz

Play Episode Listen Later Jul 26, 2023 26:13

After graduating from FSU's Risk Management/Insurance program, Tom Budz began his insurance career at AmTrust, where he held several underwriting positions including Specialty Practice Underwriter working with specialty verticals and national brokers. Tom currently works as a Middle Market Underwriter for Chubb and works part-time at the local fire department and as a volunteer with the Big Brother Big Sister program. In today's episode of the In The Know podcast, Chris Hampshire sits down with Tom for a look at the lessons that firefighting can teach insurance about safety and success. He highlights his decision to join the insurance industry, what he sees as a middle-market underwriter, and how his role as a firefighter contrasts with his work as an underwriter. Key Takeaways Tom's career in insurance began with a simple interview. How insurance programs can better promote themselves to close the industry talent gap. Tom's experience as an underwriter hasn't been anything like he expected. Firefighting keeps Tom plenty busy outside his day job hours. Perspectives that Tom has gained as he has surveyed fire damage. Trusting the insurance experts allows things to get done faster. The counterintuitive lessons learned from lifting equipment and fire extinguishers. Tom's training experience in the fire department translates to his work in the insurance office. Whether relocating for work or working remotely, attracting new talent to the industry requires options and flexibility. Tom's take on the value of a hybrid work schedule. Life lessons from Tom's work as a firefighter that apply to anyone. Tom's success and progress encouragement for his early-career self.

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Technology and Coastal Property Insurance with Manohar Pradhan

Play Episode Listen Later Jul 12, 2023 27:59

Manohar Pradhan is Vice President and Chief Technology Officer with responsibility for Insurance Products and IT operations at Cabrillo Coastal. He joined Cabrillo as a systems analyst in 2009 and grew his career through a series of leadership roles of increasing responsibility, including Assistant Vice President, Applications and Technology, Vice President, Applications, and Infrastructure Operations. In 2017, he was named Chief Information Officer and today he holds both CPCU and ARe designations. In this episode of the In The Know podcast, Manohar joins Chris Hampshire for a look at what it means to work for a coastal company in the insurance industry, the role of technology, data, and analytics, and what exactly the evolving future of the insurance industry might look like. Key Takeaways Manohar's first exposure to insurance was at a consulting firm in India. The intersection of the business and technology sides of insurance attracted Manohar to the industry. The motivation behind Manohar earning his CPCU designation. A day in the life of a Chief Technology Officer. Factors that contribute to the current crisis state of coastal property insurance. The data and analytics tactics that are driving better results in coastal property insurance. Proactive steps in resolving claims are made possible by data and analytics. A five-year look at the future of coastal property insurance, technological advances in insurance coverage, and mitigation standards. Manohar's business and technology advice to his early career self.

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AI and the Future of Insurance with Doug McElhaney

Play Episode Listen Later Jun 28, 2023 29:49

Doug McElhaney is a Partner at McKinsey & Company and will be the opening Keynote Speaker at In2Risk 2023. Doug is the global leader of McKinsey's dedicated group of AI practitioners serving P&C and life insurance companies. In this role, Doug leads a global team of data scientists, AI experts, and data engineers that help leading insurance companies build next-generation analytics solutions and centers of excellence, helping insurers expand their use of external data in their AI models and solutions. He has also helped both life and P&C insurers develop innovative new pricing and underwriting capabilities using third-party data and machine learning. In today's episode of the In The Know podcast, Chris Hampshire sits down with Doug for a discussion about the application of AI, the advancement of data analytics, and other timely topics in the insurance world. Key Takeaways Solving a variety of problems has been the aim of Doug's career journey. A lagging utilization of innovation in insurance has presented opportunities for growth. As a consultant, Doug has found an excellent alternative way to apply his skill. Doug's definition of the potential and hype of artificial intelligence. An overview of the positive and potential negative applications of AI. Could AI help address the talent gap in the insurance industry? Advice and sources for keeping up with technological innovations. Tactics for preparing the future workforce with needed skills. Appealing to people who might be considering a career in the insurance industry. A five-year look at the future of the insurance industry. Doug's wise advice to his early career self.

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Finance in the Insurance Industry with Amanda Sulkosky

Play Episode Listen Later Jun 14, 2023 28:42

Amanda Sulkosky is a senior analyst for the business, planning, and analysis department at NJM Insurance Group. Amanda earned the CPCU designation in 2022 and is actively involved in the Central Jersey Chapter of the CPCU Society, where she assists with volunteer recruitment and development. She is also a member of the Emerging Leaders Committee and Tech & Innovation Committee, where she brings her expertise and insights to help drive innovation and progress within the organization to the global CPCU society. In today's episode of the In The Know podcast, Chris Hampshire welcomes Amanda for a conversation about the finance side of the insurance industry, why Amanda chose the insurance industry, and her insights into attracting new talent to the industry. Key Takeaways The family and career path that led Amanda to the insurance industry. A comparison of Amanda's experience with an insurance carrier to other finance fields. A typical week in the life of Amanda's accounting work. Accounting work contributes to the overall health of an organization in a variety of ways. Reasons anyone should consider a career in the insurance industry. Strategies for attracting the next generation of talent into the industry. Considerations when deciding between a global or regional entity. The value of Amanda's CPCU designation in her career and efforts for continued education. Involvement in both global and local committees has benefitted Amanda's career. A five-year look at the evolving role of technology in the insurance industry. Amanda's encouraging advice for her early career self.

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Insurance in Ghana with Justice Peprah Agyei

Play Episode Listen Later May 31, 2023 28:03

Justice Peprah Agyei is the Regional Manager of the National Insurance Commission in Ghana, a Chartered Property Casualty Underwriter (CPCU), and an Associate of the Chartered Insurance Institute of the United Kingdom and Ghana (ACII, ACIIG). He holds an MPhil in Enterprise Risk Management and Business Consulting from Kwame Nkrumah University of Science and Technology. In today's episode of the In The Know podcast, Chris Hampshire and Justice discuss insurance in Ghana and Africa and the positive ways his CPCU designation has impacted his career. Key Takeaways Highlights of Justice's professional journey into the insurance industry. An overview of the insurance landscape in Ghana. Two main contributors to the growth of personal insurance coverage in Africa. The motivation behind Justice's app-technology approach to offering insurance. Highlights of the commercial insurance growth in Ghana. Justice details the impact of his letter to the president of Ghana regarding unemployment insurance during COVID. The motivation behind Justice's articles and how he is benefitting the industry. Justice outlines the ways his CPCU designation has benefitted his career. The early career advice Justice wishes he would have known years ago. Quotes “Insurance is something interesting. It's something I can think of as my profession.” “Insurance education has grown very well in the past years.” “Penetration is still low, around 2%, but the coverage has gone up.” “This approach has made it easier even for those who are not educated in insurance.” “My CPCU designation is one of the great things that has happened to me in my insurance career.” “When I joined the CPCU, that's when the magic started.”

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Data Science in Insurance with Dr. Simi George

Play Episode Listen Later May 17, 2023 26:31

Description: Dr. Simi George is the Chief Data Scientist and Product Officer at NeuralMetrics, which enables actionable and transparent risk-assessment intelligence for P&C carriers, brokers, and agents. She has more than 20 years of experience in data science, descriptive statistics, and analytics, delivering global impact via cutting-edge products and data-driven management. Previously, she headed the Data Science and Applied AI organization at AXA XL. In today's episode of the In The Know podcast, Chris Hampshire and Simi sit down for a conversation about how data science is driving decision-making in the insurance industry today. Key Takeaways Simi knew by age 10 that she wanted to be a scientist but only entered the insurance industry six years ago. The elements of the insurance industry appeal most to Simi. Simi's message to data scientists who might be considering the insurance industry. Innovations and ideas are driving the industry forward today. A snapshot of data analytics in the current insurance industry. Data analytics needs from various segments within the marketplace. Defining unstructured versus structured data. Simi's predictions for the next stage of data analytics in the insurance industry. The future of the insurance industry is going to include improved interpersonal interactions. Simi's experience as a female leader in the industry. What has surprised Simi in the six years she has been involved in the industry? Simi's advice to her past self includes earning her CPCU designation.

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The Career Journey to Reinsurance with Eric Hubicki

Play Episode Listen Later May 3, 2023 29:20

Eric Hubicki is a Senior Vice President of Underwriting for North Carolina-based Topsail Reinsurance Underwriters, LLC. He has more than 25 years of experience in primary and reinsurance underwriting operations. After spending time on the primary side in underwriting and management roles, Eric started his reinsurance career with SCOR Reinsurance. He was an integral member of a specialty lines unit at Munich Re and BMS Intermediaries. Before joining Topsail Re, he was a Director at Arch Reinsurance Company. Eric's reinsurance responsibilities included marketing, underwriting, and account management for national, regional, specialty, and niche insurance companies. In today's episode of the In The Know podcast, Eric sits down with Chris Hampshire for a conversation about the world of reinsurance and fronting and the importance of insurance education and involvement in professional organizations in the insurance industry. Key Takeaways Eric's accidental entry into the insurance industry. Questions Eric asked himself when transitioning into reinsurance. The importance of creating connections across the industry. A top-down approach attracted Eric to reinsurance. What does a fronting carrier do and how do they approach the marketplace? Eric's forecast on the future of the fronting space. With six insurance designations, Eric appreciates the value of continued education. Eric's roles and responsibilities as a mutual board member. The career benefits of involvement in professional organizations. Eric's best practices for effective mentoring and attracting talent to the industry. Eric's message for anyone considering a future in the insurance industry. What Eric knows now that he wishes he had known at the beginning of his career. Quotes “In the insurance industry, I've never stopped learning and it's always challenging.” “I've always been impressed in the insurance industry with just how good the people are.” “CPCU has always been the gold standard of my insurance designations.” “Insurance may not be the sexiest industry on this earth, but it is a wonderful place to be.”

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Growing Up in the Insurance Industry with Erin Dop

Play Episode Listen Later Apr 19, 2023 27:35

Erin Dop is a multi-line insurance producer and third-generation insurance professional at Fullenkamp Insurance, the agency her grandfather started in 1963. She is the latest CPCU designee in her family and is active in the Independent Insurance Agents of Iowa (IIAI) association. Erin was the recipient of the C. Daniel Fullwider Young Agents of the Year award for the state of Iowa in 2021. She continues to promote the industry through her efforts with the IIAI on various committees including the education committee and as the current young agent committee chair. In today's episode of the In The Know podcast, Erin joins Chris Hampshire for a conversation about growing up in the insurance industry, how digital evolutions affect small agencies, and the value of Erin's CPCU designation and involvement in the CPCU Society. Key Takeaways The motivation behind Erin's decision to follow the family path into insurance. An average day in the life of Erin's work at Fullenkamp Insurance. Business acquisition and retention for a regional agency in the age of digital insurance. Erin's team educates clients with newsletters, in-person meetings, and a personal connection. A look at digital evolutions on the small agency front. Attracting and retaining talent starts with a robust compensation package. Erin's message to new talent is to just give it a shot. The social impact aspect of the insurance industry is an attractive feature for the next generation. Erin highlights her scholarship opportunities and the professional and personal importance of her CPCU designation. The impact of involvement in the CPCU Society on Erin's career. A five-year forecast for the future at Fullenkamp Insurance. Erin's advice to her early-career self. Quotes ● “It's tough to move completely to a digital standpoint when the relationship is so key.” ● “It can be tough to get people excited about working in the insurance industry if they've never had a conversation with their agent.” ● “Why insurance? Why not! Why not give it a try?” ● “If I have questions or concerns… I know I can reach out to someone in the CPCU Society.” ● “We are all after the same goal of doing what's right for the insured.”

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Compassionate Claims Handling with Tony LaRocca

Play Episode Listen Later Apr 5, 2023 25:01

Tony LaRocca is a claim specialist for FCCI Insurance Group who specializes in handling litigated commercial auto and liability claims. Tony is a lifelong learner who works diligently to handle claims with compassion and empathy. Tony is also a self-proclaimed coverage nerd. Tony obtained his CPCU in 2014, has volunteered and served the Dallas Chapter CPCU in various volunteer roles including as the 2021 Dallas Chapter president and he currently serves the Claims Interest Group as the vice chair. On today's episode of the In The Know podcast, Tony joins Chris Hampshire for a conversation about the state of litigation, how the approach to handling claims has changed over the years, and how technology will continue to impact the insurance industry in the future. Key Takeaways The recommendation from a friend that led to Tony's enriching insurance career and CPCU designation. Tony highlights a week in the life of a litigation specialist. The step-by-step compassion approach to claims handling. The evolving role of a claims adjuster requires a collaborative approach to each case. Why should more people consider claims as a career path? How Tony became a coverage nerd and what exactly that means. The benefits of Tony's CPCU designation to his career. Tony's involvement in the claims interest group and the lessons he has learned from it. How is technology impacting the world of claims? A look at the future and growth of the insurance industry. Tony's advice to his early career self is to take more risks. Quotes “Litigation is a collaborative approach. What is the best strategy for each case?” “There is an unlimited amount of opportunity to learn new things in a claims career.” “I've been amazed at all of the knowledge I've been able to get from being professionally involved in the CPCU.” “We are seeing the use of technology helping us, but I don't know if we're letting it help us enough.” “Don't be afraid to fail. You have so much to learn when you fail.”

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