IN-the-Know

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."

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.

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.

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.

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.

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.

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.

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.

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.

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."