IN-the-Know

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."

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."

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."

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."

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."

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."

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."

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."

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."

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."