The Building BITE

Tune in to The Building BITE Podcast as we hear from industry experts about key topics to help you be successful. In this episode, hosts Valerie Bono and Peter Duggan welcome Heather O'Neill, CRIS, AVP of Construction Specialty Products for Arch Insurance Group. Heather shares her journey growing into a leadership role as a female in the insurance industry. A graduate of Texas Christian University, Heather holds a Bachelor of Arts Degree in History with a minor in English. Leveraging her liberal arts background, Heather discovered a passion in the insurance space – where she can assimilate different information to understand the nuances of complex risk.

Heather has held various positions across the industry, beginning her career in construction insurance at American Contractors Insurance Group (ACIG). She then transitioned to the broker side as an Account Executive at Roach Howard Smith & Barton (RHSB) and then spent nearly six years as a Senior Underwriter for Subcontractor Default Insurance at AXA XL.

Heather most recently took on an active leadership role as AVP at Arch Insurance Group within the Construction Specialty team, focused on Subcontractor Default Insurance. In this role, she has the unique opportunity to work within an incredible team of four female underwriters – which is notable since women in the insurance and construction industry continue to be underrepresented.

Through the art of storytelling, Heather shares those most influential throughout her career, including those she works closely with at Arch. She continues by sharing the ultimate personal responsibility mantra, inspired by her grandfather, "No one can make you think, act, feel or believe in any way you don't want to. Heather’s three takeaways include for listeners looking to find their leadership growth:

• Find trusted mentors: Find mentors who will give you open and honest feedback while having a vested interest in you and your development.

• Don't be afraid to take risk: When taken with purpose, fear of failure dissipates, and opportunities to learn emerge.

• Find your balance: Find the balance between working hard and seeking opportunities to promote / advocate for yourself.

As an action item, Heather encourages listeners to find a trusted advisor and ask for feedback. It's essential to have a safe space to receive positive and constructive feedback which provides continued opportunities for improvement.

Tune in to The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. In this episode, hosts Chris Epps and Mike Diercksen welcome Dr. Nathan Blinn, VP of Construction & Strategic Innovation at Eagle Construction of VA. Nathan shares his expertise on how BIM can drive a company's overall success.

Earning both his master's and Ph.D. from the University of Florida (UF), Nathan begins the podcast sharing his journey in the BIM space. He shares his time at UF and elaborates on his dissertation during his doctoral program, where he studied Construction Management, Virtual Design & Construction, and Building Information Modeling.

Leading in the use of advanced technologies for residential builder, Eagle Construction of VA, Nathan shares the exciting elements to working on BIM in the residential space compared to commercial construction. Residential BIM application includes quick life-cycle projects with the opportunity to build projects from the ground up.

On today's topic, Nathan provides excellent insights into the realm of building technology and gives us three takeaways that will help companies drive success through the utilization of BIM:

1. View BIM Management as a Multiplier, Not An Expense

2. Don't do BIM in a Bubble

3. And, Don't Overlook the "I" in BIM

Providing examples, he shares how Eagle is utilizing BIM to streamline its process and drive value in the project. Additionally, he speaks to how the firm uses data to drive decisions across all facets of the business – from land acquisition to warranty – and how these strategies are implemented across their portfolio.

On this episode, we spotlight Jeff Nolan, Risk Engineer at Cove Programs. Jeff shares four opportunities to improving prequalification and subcontractor selection processes for contractors to maximize success on a project. By (1) avoiding silos while doing prequalification, (2) developing a consistent risk mitigation plan, (3) consistently applying the developed processes, and (4) capturing the lessons learned, GC's are better positioned to see improvement in their risk management strategy and claims process.

Growing up in California, Jeff shares his career journey after graduating from the University of California, Davis. From Bechtel to Zurich and now Cove, Jeff has worked globally in Dubai, The United Arab Emirates, London, and Germany.

Leveraging his global expertise, Jeff shares his view of the main differences between SDI and surety bonds. He then provides listeners with four steps to improving a contractor's prequalification and subcontractor selection process. These include:

1.Don't do Prequal in a Silo or Vacuum

2.Develop a Risk Mitigation Process

3.Consistently Apply the Developed Processes

4.Capture the Lessons Learned

Tune in to learn more about these four steps and how they can benefit project teams today.

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Tune in as we spotlight Rose Hall, Vice President and Head of Construction Innovation at AXA XL. Learn about Rose's unique grassroots, boots-on-the-ground background from an educational and professional standpoint. She's worked on risk management for Turner Construction and provided consulting and expert witness work before joining AXA XL. She utilizes this holistic skillset in her new role – baking in innovation and technology. Through technology, Rose is advancing the industry in taking on risks while also protecting workers.

According to a McKinsey report, productivity in construction has only gone up 1% that in the last 20 years. Why is that? Rose explains, "The modernization of construction really hasn't kept up with the modernization of the world."

Rose advises that the next frontier of risk management and profitability optimization in the construction industry is technology. She further explores how AXA XL executes technological innovation through the implementation of the Construction Ecosystem. The award-winning Construction Ecosystem is a digital network of innovative products and services focused on advancing technology adoption and leveraging data to solve customers’ problems, enhance their risk management efforts and support their business goals. Tune in to hear to learn more on what the ecosystem involves, who it impacts and how it’s transforming the industry.

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Tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. In this episode, Peter Duggan and Mike Diercksen welcome William (Bill) Lane, Risk Manager at the Hudson Insurance Group. Bill takes us on his career journey from his experience developing first-hand knowledge working for one of ENRs top General Contractors to where he is today.

Throughout the episode, Bill breaks down what SDI is. He shares that he understands a thing or two because he has seen a thing or two from the amount of prequal files he has reviewed. Bill continues by demystifying what is in a typical prequal file.

Bill offers his perspective on why a contractor must have an effective prequalification process in place. If not, contractors can lose millions of dollars if a subcontractor defaults on a large construction project.

To improve a subcontractor’s prequalification process, Bill expands on the benefits that can be achieved if contractors:

• Implement a Financial and Operational Assessment

• Add Prequalification Data into the Bid-Leveling Form

• And Use Technology as a Tool, Not a Solution

If you are a contractor, make sure to efficiently go through your prequalification process, as it could save you millions down the road. By assessing a subcontractor’s financial and operational capacity and including them on the Bid-Leveling Sheet, you are bound to see an improvement in your prequal process.

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In this episode, we spotlight Kristen Hoskinson, Vice-President and leader of the Master Builders Risk Business at AXA XL. Kristen takes us on her career journey on where she started, and how she got to where she is today.

According to a recent study published by McKinsey, despite women making up 56% of entry-level positions in the financial/insurance sector, only 30% of the vice-presidents and 18% of the C-suite are female.

By following these three life-learned lessons, Kristen was able to claim her space at the table and obtain the respected position she is in today:

1. Be intelligent, not just smart. Be beautiful, not just pretty. Be bold, not just strong. Be compassionate, not just kind.

2. Teach somebody something. Learn something. And make someone’s day brighter.

3. Happiness is a journey, not a destination.

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On this episode, Jason Lamonica, Senior Vice-President and Profit Center Leader of Subcontractor Default Insurance at AXA XL walks us through the history of SDI and shares (5) Key things that Contractors should look out for to mitigate risk. Jason comments on five tenets across SDI and the importance of:

1. GCs picking the right projects during the pursuit process

2. The importance of continuous qualification rather than just prequalification

3. The importance of paying attention to overall quality on job sites

He continues into (4) schedule and shares that delays are one of the hardest things to quantify when it comes to a default on any contractual claim. It's essential to update schedules regularly. Lastly, he dives into (5) "contractual wording" and the importance of knowing your contracts, understanding what you're getting involved with, and understanding your responsibility. The show takes a bite out of the buzzword force majeur.

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On this episode, Peter Kapler, Senior Vice-President and National Director of Performance Security for AON describes the evolution of the Risk Management role and shares tips on how to optimize a contractor’s risk management function. Those tips include:

1. Breaking Down Silos

2. Leveraging Data

3. Empowering Your Risk Management Team

Peter discusses the importance of breaking down silos between operations, finance, and risk management, then integrating data across all functions. Peter rounds out the conversation by describing the value of empowering risk management to influence the entire organization. Peter explains if there is buy-in at the C-suite / C-level, then the entire organization can benefit from the wealth of knowledge risk managers possess about the marketplace and the organization.

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On this episode, we spotlight Gary Kaplan, President of Construction at AXA XL, the leading Carrier in the SDI marketplace. Thinking about building your own business from scratch? Look no further than today’s episode as Gary demystifies what has led him to his personal and professional success - and - leadership legacy. Gary shares insights on how he helped grow AXA XL essentially from scratch into the 100-person team it is today – achieving an unprecedented 40% YOY growth.

In an industry centered around risk, Gary shares that the more risk you take professionally, the more success you may have in your career.

Additional recommendations to anyone looking to build a successful insurance business include:

- The first step to building a business is setting the vision

- The importance of assembling the highest caliber of people

- Do business with the right people

- Remember, it’s all about relationships

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On this episode the show spotlight’s Geoff Delisio, Senior Vice-President at Berkshire Hathaway, Specialty Insurance, where he focuses on underwriting, surety and subcontractor default insurance. Geoff shares tips woven into the art of underwriting which include:

a. Ask a lot of questions, and understand the underlying need of the customer

b. Avoid groupthink

c. Be humble, allow yourself to be wrong, bond with clients over it, and redirect

Through a dynamic analogy, Geoff compares underwriting to snowflakes: Each deal is similar, but pretty unique. He explores the pros and cons with big data and shares BHSI’s experience working on international underwriting and the nuances associated with non-domestic claims and discusses their vast service offerings.

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Listen to the show at http://www.TheBuildingBITE.com/