IN-the-Know

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.

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."

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."

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."

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."

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."

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."

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."

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."

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."