Insurance Business America issue 6.06 by Key Media

IBAMAG.COM ISSUE 6.06 | $12.95

2018 These 95 women are raising the bar on gender equality in the industry CHANGE COMES TO THE NFIP

Will FEMA’s latest moves put the flood insurance market on solid ground?

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TAPPING INTO THE ENERGY MARKET

Despite the uncertainty around oil prices, opportunity awaits brokers in the energy sector

PRODUCERS ON TECHNOLOGY

Producers tell IBA which tech tools they can’t live without

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ISSUE 6.06

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CONTENTS

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UPFRONT

IBA TECHNOLOGY REPORT FEATURES

TECHNOLOGY REPORT

SPECIAL REPORT

ELITE WOMEN

IBA spotlights 95 trailblazing female leaders who have made great strides for gender diversity in insurance PEOPLE

INDUSTRY ICON

Since taking the reins at Zurich North America, Kathleen Savio has championed innovation for customers and employees alike

IBA surveyed producers to find out which tech tools are most critical to their day-to-day operations

What lessons do last year’s natural disasters hold for brokers?

06 Statistics

The numbers behind the talent crisis

08 Head to head

Are health insurers’ moves into providing healthcare a pro or a con?

10 News analysis

FEMA has made changes to the NFIP – but will they do any good?

12 Intelligence

This month’s big movers and shakers

14 Workers’ comp update

What’s behind moderation in the workers’ comp market cycle

16 Technology update

Property assessments get a 3D boost

FEATURES

INSURANCE MEETS HOSPITALITY

EPIC Insurance Brokers’ Renee Crow details how she helps hotels and restaurants face emerging risks

18 Opinion

Tips for safeguarding clients against the growing threat of reputational risk

FEATURES 82 Five signs your employees don’t care anymore

How to tell if your employees are disengaged – and what to do about it

84 Creating a culture where innovation thrives

Three ways to make innovation more than just a buzzword

PEOPLE 86 Career path

Liri Halperin’s dedication to innovation took her from Israel to Silicon Valley

88 Other life FEATURES

BUSINESS IN THE PIPELINE What brokers need to know before drilling down on the energy sector

04 Editorial

Whether in business or lacrosse, Eric O’Brien plays to win

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Put partners first.

We do. Collaboration with partners to take their business to the next level. Partnerships that span 35 years.

E&S/Specialty nationwideexcessandsurplus.com A.M. Best rating of A+ (Superior), FSC XV Fortune 100 company Nationwide and the Nationwide N and Eagle are service marks of Nationwide Mutual Insurance Company. ÂŠ2018 Nationwide

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UPFRONT

EDITORIAL

Learning from a stormy past

ere are some ominous words sure to make insurers shudder with fear: Hurricane season is underway. It seems like only yesterday that reports on Hurricanes Maria, Irma and Harvey were dominating headlines across the US. That devastation was followed by a recovery operation in which insurers played a vital role, picking up the pieces and, in the process, suffering massive losses to their own bottom lines. According to Swiss Re, between the hurricanes and a series of wildfire, thunderstorm and severe precipitation events, global catastrophe claims in 2017 were the highest ever recorded during a single year. Total economic losses hit $337 billion, and globally, more than 11,000 people lost their lives or went missing in disasters. Such catastrophic events are, of course, what insurance is for. And while a rapid reoccurrence of such tragedies on the scale seen in 2017 seems unlikely, insurers will undoubtedly be keen to better position themselves to cope with whatever 2018’s hurricane season throws their way.

More than two-thirds of 2017’s floods were uninsured, and only 15% of homeowners have a flood policy, so there’s clearly a gap to plug For brokers, that means getting the message across to clients that, regardless of where they stand on the climate change debate, the events of last year are likely to occur more frequently. That means they need cover: More than two-thirds of 2017’s floods were uninsured, and only 15% of homeowners have a flood policy, so there’s clearly a gap to plug. It’s not just the direct impact of catastrophes that needs to be insured against, either – take, for example, travel insurance. “The best way for anyone to avoid frustration and protect their future travel plans is to add a ‘cancel for any reason’ [CFAR] policy to their travel insurance package,” Justin Tysdal, CEO of Seven Corners, told IBA in May. “That way, should a natural disaster occur prior to the departure date, travelers can cancel their trip and receive at least 75% of their nonrefundable trip cost back.” As a broker, it’s your job to not only alert your clients to how a single event can change their lives, but also to overcome the complacent belief that such tragedies only happen to other people. Weather-wise, 2017 might be a year we wish we could forget, but it’s one brokers must ensure their clients remember – for their own sakes. The team at Insurance Business America

www.ibamag.com MAY 2017 EDITORIAL Managing Editor Paul Lucas Journalists Alicja Grzadkowska, Lucy Hook, Jordan Lynn, Bethan Moorcraft, Ryan Smith News Writers Lyle Adriano, Krizzel Canlas, Terry Gangcuangco, Mina Martin, Gabriel Olano Staff Writers Hannah Go, Libby MacDonald, Joe Rosengarten, Heather Turner Copy Editor Clare Alexander

CONTRIBUTORS Nir Kossovsky, Karen Gately, Amantha Imber

ART & PRODUCTION Designer Joenel Salvador Production Manager Alicia Chin Traffic Manager Ella Dayandante

SALES & MARKETING Vice President, US Market Cathy Masek Vice President, Sales John Mackenzie Media Sales Managers Chris Anderson, Desiree McCue Mktg & Comms Manager Lisa Narroway

CORPORATE Chief Executive Officer Mike Shipley Chief Operating Officer George Walmsley President Tim Duce Chief Information Officer Colin Chan Human Resources Manager Julia Bookallil Editorial Inquiries paul.lucas@keymedia.com Subscription Inquiries subscriptions@keymedia.com Advertising Inquiries cathy.masek@keymedia.com, chris.anderson@keymedia.com, desiree.mccue@keymedia.com

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Insurance Business America is part of an international family of B2B publications and websites for the insurance industry Insurance Business Canada john.mackenzie@kmimedia.ca T +1 416 644 874O Insurance Business UK nathan.beach@keymedia.com T +44 20 7193 0935 Insurance Business Australia peter.smith@keymedia.com.au T +61 2 8437 47OO Insurance Business NZ peter.smith@keymedia.com.au T +61 2 8437 47OO Insurance Business Asia peter.smith@keymedia.com.au T +61 2 8437 47OO Printed in Canada Copyright is reserved throughout. No part of this publication can be reproduced in whole or part without the express permission of the editor. Contributions are invited, but copies of work should be kept, as the magazine can accept no responsibility for loss.

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DISCOVER WHAT WE COVER.

We provide

BOP CybermoreLiability than Property General Liability Workersâ&#x20AC;&#x2122; Comp

Commercial Auto

Employment Practices Liability Insurance

Inland Marine Commercial Package monoline coverage.

Get to know AmTrust. Discover what we cover at D28.amtrustinsurance.com AmTrust is AmTrust Financial Services, Inc., located at 59 Maiden Lane, New York, NY 10038. Coverages are provided by its property and casualty insurance company affiliates. In TX, coverage is provided by AmTrust Insurance Company of Kansas, Inc.; AmTrust International Underwriters Designated Activity Company; Associated Industries Insurance Company, Inc.; First Nonprofit Insurance Company; Milford Casualty Insurance Company; Republic Underwriters Insurance Company; Republic-Vanguard Insurance Company; Security National Insurance Company; Southern County Mutual Insurance Company; Southern Insurance Company; Technology Insurance Company, Inc.; or Wesco Insurance Company. In WA, coverage is provided by AmTrust Insurance Company of Kansas, Inc.; AmTrust International Underwriters Designated Activity Company; Associated Industries Insurance Company, Inc.; Developers Surety and Indemnity Company; Milford Casualty Insurance Company; Security National Insurance Company; or Wesco Insurance Company. Consult the applicable policy for specific terms, conditions, limits and exclusions to coverage.

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UPFRONT

STATISTICS

The talent shortfall

A GROWING NEED More than half of the companies surveyed by GreatInsuranceJobs.com for its latest hiring forecast said they planned to bring on at least 50 new employees in the remainder of the year; 35% of companies were looking to replace more than 100 employees. That’s a stark contrast to just four years ago, when less than a third of companies foresaw such a wave of hiring.

Ninety-five percent of insurance companies have jobs available – but no one to fill them Today’s insurance industry is characterized by low unemployment, a wave of retirements and a plethora of open positions. The ongoing generational transition is largely to blame: Retirements have already drained the industry’s employment pool, and more are looming. Half of the companies surveyed for a recent industry employment outlook said they hope to hire at least 50 new workers in the second,

No hires 1–5 hires 6–10 hires 11–20 hires 21–50 hires 51–100 hires 101–200 hires 201 or more hires

third and fourth quarters of the year. Among their most pressing hiring challenges, companies cited a lack of qualified job seekers, lack of training programs and insufficient recruiting resources. The fields crying out for staff are primarily in customer-facing roles: 21% of unfilled openings are in customer service, 20% are in sales, and another 20% are in claims.

5.5%

8,454

13,300

95%

Job openings forecast for the last three quarters of the year

56%

Proportion of insurance companies that have current job openings

33%

2014

13%

Number of open insurance jobs as of the first quarter

13%

12%

Percentage of companies planning on hiring at least 50 new employees this year

Source: 2018 Insurance Industry Employment and Hiring Outlook Survey, GreatInsuranceJobs.com

DOWNWARD TREND

UNEMPLOYMENT RATE HITS NEW LOW

When asked about the hiring forecast for the year ahead, companies were slightly more optimistic about their prospects than in the previous two years. COMPARED TO THE PREVIOUS YEAR, WHAT DOES YOUR OVERALL HIRING FORECAST LOOK LIKE?

This year, the industry unemployment rate sank to its lowest level in more than a decade after falling 0.6% from 2017. The challenge now lies with employers as they hunt for skilled workers amidst of wave of retirements.

60%

40%

30%

20%

10% 11% 58% 31%

13% 50% 37%

10% 54% 36%

2016

2017

2018

Worse

Same

Better

Source: The 2018 Insurance Industry Employment and Hiring Outlook Survey, GreatInsuranceJobs.com

7% 6%

50%

INSURANCE INDUSTRY UNEMPLOYMENT RATE

1% 0 Feb 2006

Feb 2007

Feb 2008

Feb 2009

Feb 2010

Feb 2011

Feb 2012

Feb 2013

Feb 2014

Feb 2015

Feb 2016

Feb 2017

Feb 2018

Source: The 2018 Insurance Industry Employment and Hiring Outlook Survey, GreatInsuranceJobs.com

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17%

19%

17%

13%

28% 31%

2015

2016

5.5% 19% 8%

10.5% 5.5%

15%

11%

16%

14%

1% 21%

26%

16%

21%

2017

2018

5% 3%

21%

12%

14% Source: GreatInsuranceJobs.com

SALARIES CLIMB

REACHING MILLENNIALS

Competition for quality candidates has pushed compensation and benefits packages up across the board, yet many employers report having trouble keeping up with competitors. That’s especially true when it comes to finding tech talent, as insurance companies must compete against better-known tech companies offering higher salaries.

Attracting young people will be key to addressing the industry’s talent shortage – yet 39% of insurance companies report they’re not using critical social media channels in the hiring process.

$140,000 Average salary, 2017

$120,000

Average salary, 2015

HAS YOUR COMPANY HIRED ANYONE DIRECTLY USING SOCIAL MEDIA?

$100,000

Yes

61%

$80,000 $60,000

39%

$40,000 $20,000 $0

Percentage of jobs filled via LinkedIn: 74% Actuaries Claims adjusters, Customer appraisers, service examiners and reps investigators

Human resource managers

Human resource specialists

Sales agents

Underwriters

Office and administration

Source: The 2018 Insurance Industry Employment and Hiring Outlook Survey, GreatInsuranceJobs.com

Percentage of jobs filled via Facebook: 26% Percentage of jobs filled via Twitter: 0% Source: The 2018 Insurance Industry Employment and Hiring Outlook Survey, GreatInsuranceJobs.com

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UPFRONT

HEAD TO HEAD

Should insurers be involved in providing healthcare? Are major insurers’ recent moves into the healthcare space a good idea, or should they stick to what they know best?

Seth Friedman

Eric Wilson

Aimee Sziklai

National pharmacy practice leader Gallagher

Principal Wilson Associates

Vice president and healthcare business leader Capgemini

“Healthcare is seeing vertical integration strategies; health plans are looking to buy complementary companies providing value-add services. When health plans consider acquiring or merging with a pharmacy benefit manager [PBM], the impetus is foot traffic. The average prescription purchaser spends double or triple the non-pharmacy customer. More foot traffic typically equates to more dollars spent, not only in the pharmacy, but also in the in-store clinic and front of the store. For health plans, adding PBMs and/ or healthcare providers creates a more integrated healthcare benefit and leverages their purchasing power, especially in the specialty drug space.”

“In theory, if the insurance carrier can dictate where consumers go for care and push more clients there, it would reduce costs. Currently, if you go to a CVS clinic for medical care, it costs less than going to your doctor. In reality, CVS purchasing Aetna works in the reverse fashion, resulting in the pharmacy dictating cost to the insurance company and reducing the consumer’s choice of which doctor they see. In all likelihood, the clinic would offer preferred insurance pricing, with non-network pricing outside the clinic. If the pharmacy is dictating pricing, there will be fewer controls on cost.”

“Cigna acquiring Express Scripts is emblematic of players moving to address rising costs; this drive will continue to reshape the market. The expectation is that companies like Cigna can reduce drug and other medical costs by negotiating better drug prices and pharmacy benefit manager expenses, given their size and volume, thereby ultimately reducing member costs. In a 2016 AARP survey, more than half of respondents said they did not fill at least one prescription in the past two years because of cost. Reducing drug costs for those members alone can yield significant medical cost benefits due to improved adherence.”

FROM HEALTH INSURERS TO HEALTH PROVIDERS Cigna’s announcement in March that it planned to buy Express Scripts for $52 billion was the most recent example of a growing trend of insurers spending big in order to increase their involvement in all facets of customer healthcare. Last year saw CVS Health’s $68 billion deal to acquire insurer Aetna, Humana’s purchase of home health provider Kindred Healthcare, and UnitedHealth Group’s acquisition of DaVita’s primary- and urgent-care services. Though most of these deals are still undergoing regulatory approval, the overall trend points to a future in which consumers could get their insurance, prescription drugs and even some aspects of treatment from the same company.

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P K R B

PROMISES PROMISES KEPT RECORDS RECORDS BROKEN

Webb Simpson said, “My dad always told me to never givesaid, up.”“My Nowdad wealways know, he Webb Simpson told never did. Congratulations to Webb me to never give up.” Now we know, he Simpson his history-making win at never did.for Congratulations to Webb the 2018 PLAYERS Championship.win at Simpson for his history-making the 2018 PLAYERS Championship.

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UPFRONT

NEWS ANALYSIS

Still in murky waters After the devastating 2017 hurricane season, the National Flood Insurance Program continues to sink deeper into debt, leading some to question its place in the evolving flood insurance market

IT’S BEEN a busy few months for the Federal Emergency Management Agency. The indebted National Flood Insurance Program has again found itself under significant pressure after last year’s intense hurricane season. According to Swiss Re, Hurricane Harvey alone resulted in $30 billion in insured losses and $85 billion in total economic losses, and FEMA had to take on around $1.5 billion in reinsurance to help with claims payouts. So it wasn’t too surprising when FEMA announced in April that it’s walking back the non-compete rule for the NFIP, meaning insurers in the NFIP’s Write Your Own program can now sell their own flood insur-

“The overriding flood insurance issue facing the nation is whether flood insurance rates will correlate with flood insurance risk, or will Americans who own structures exposed to flooding, many of whom are wealthy, forever be subsidized by those who do not?” says Craig Poulton, CEO of Poulton Associates, which administers the Natural Catastrophe Insurance Program, one of the largest private insurance programs in the US. “Since subsidized rates have been proven to encourage building in flood-exposed areas, which in turn requires even more subsidies, the obvious answer is that rate should correlate to risk.”

“Will Americans who own structures exposed to flooding ... forever be subsidized by those who do not?” Craig Poulton, Poulton Associates ance coverage side by side with NFIP-backed policies. Some experts say the decision will make things worse for the agency by leading to a steady attrition of business from the NFIP book, while others welcome a smaller footprint for FEMA’s risk assumption.

That risk put many people in a bind during the hurricanes that hit in late 2017. Swiss Re reports that 80% of homes in the Houston metropolitan area were uninsured against flood risk, revealing a huge protection gap. Uncertainty in reporting around private-

market figures makes it difficult to get a sense of the exact take-up rate for flood insurance, but estimates point to a 50% increase in the past year, says Matt Junge, senior treaty underwriter at Swiss Re. He sees the NFIP as playing an important role in getting homeowners to buy protection. “The interest from the private market, coupled with the ambitions of the National Flood Insurance Program – if the two work together, we should be able to achieve some meaningful growth and take-up rate,” Junge says. “Any interest we can get in flood insurance, drawing people’s attention to the fact that they don’t realize that they’re at risk for flooding, is good.” With an overall protection gap of approximately $10 billion, the flood insurance market presents tremendous opportunity, Junge adds. It’s not that flood insurance is out of reach for homeowners in terms of avail-

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A GROWING RISK

Hurricane events that are similar or larger in magnitude than the trio of storms that hit the US in 2017 are likely to happen more often in the future

More than 20% of flood claims come from properties outside high-risk flood zones

While advancements in flood measures make loss events less common, the feeling of security they create leads people to expose more of their property to flood risk Sources: Swiss Re, FEMA, Munich Re

ability and pricing; rather, the challenge for the insurance industry is the lack of awareness among homeowners that they need it in the first place. “If they’re not in a flood zone, they just don’t think they’re at risk of flooding,”

Remapping flood zones is part of the solution and an ongoing project for many in the flood insurance space. If a potential customer tries to determine their flood risk right now, as designated by the government, they’ll simply see that they’re either

“If they’re not in a flood zone, [people] just don’t think they’re at risk of flooding. Of course, we know that’s not true” Matt Junge, Swiss Re Junge says. “Of course, we know that’s not true. Everybody’s at some risk of flooding – a significant percentage of losses that the National Flood Insurance Program has paid come from outside of high-risk flood zones.”

in or out of danger, which doesn’t accurately depict the level of risk. The private market is working on ways to illustrate the gradient of risk to show that while some homes are in riskier areas than others, all are at some risk of flooding. Flood

insurance stakeholders are looking into modeling that incorporates satellite imagery and event simulation to reflect the granularity of risk. “There’s a gradient all the way along so we can better reflect the price of flood insurance for individual homes,” Junge says. “We should have much less reliance on FEMA flood maps.” In fact, the question of what role FEMA and the NFIP will play as the flood insurance market evolves is yet to be determined. “Only the invisible hand of a free market will consistently operate to provide flood insurance buyers with rates that correlate with risk,” Poulton says. “The record clearly reflects that Congress has always intended that the private market, not a government-sponsored monopoly, should provide solutions to the nation’s flood insurance needs, just as with other forms of insurance.”

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UPFRONT

INTELLIGENCE CORPORATE ACQUIRER

TARGET

PRODUCTS COMMENTS

Ascot US Holding Corporation

Greyhawk Insurance Company

Greyhawk’s wholly owned subsidiary, Greyhawk Specialty Insurance Company, is also part of the deal

AssuredPartners

National Insurance Services

NIS provides employee benefits consulting and brokerage services in 29 states

AssuredPartners

People’s Insurance Agency

Iowa-based PIA has been family-owned and -operated since its founding in 1982

Insurance Group of St. Charles County

Insurance of Ellisville

Missouri-based Insurance of Ellisville offers auto, homeowner’s, renter’s and umbrella coverage

JC Flowers & Co.

Endeavour Insurance Services and SSL Insurance Group

The combined business plans to operate under the name SSL Endeavour

NFP

1st Community Insurance Services

California-based 1st Community offers P&C products in the Palm Springs area

Risk Strategies

Costello Benefits Group

CBG Benefits has developed a reputation as a market leader in HR and benefits technologies

Seeman Holtz Property & Casualty

Affiliated Insurance Managers

The purchase of the Louisiana-based brokerages furthers Seeman Holtz’s geographic expansion plans

Seeman Holtz Property & Casualty

First Choice Insurance Agency

The acquisition will strengthen Seeman Holtz’s presence in the Midwest

Lemonade introduces opensource insurance policy

Insurtech startup Lemonade has launched what it calls “the world’s first open-source insurance policy.” Policy 2.0 is not copyrighted, which means anyone can edit it on Github – and all of Lemonade’s competitors have access to it, too. The policy is intended for US renters, but the company plans to expand it to cover other lines, languages and legal jurisdictions. “Policy 2.0 reflects our determination to drag insurance into the 21st century – kicking and screaming if need be,” said Lemonade CEO Daniel Schreiber.

Seeman Holtz continues its geographic expansion On the heels of 24 acquisitions in 2017, Seeman Holtz Property & Casualty is continuing to expand its geographic footprint with the acquisition of two new brokerages: Affiliated Insurance Managers in Morgan City, Louisiana, and First Choice Insurance Agency in Poplar Bluff, Missouri. Affiliated has been serving the Louisiana market for three decades. “We are happy to add the Affiliated client base to the Seeman Holtz family of companies,” said Eric Holtz, EVP and chief marketing officer. “We look forward to bringing our comprehensive client service approach to all our new relationships.” First Choice Insurance, meanwhile, has been operating for more than 20 years. Led by Steve Phillips, the agency specializes in life insurance and financial services. “We are excited to have Steve Phillips and his team join our family of companies,” said Seeman Holtz president Marshal Seeman. “Steve provides us a platform to help us continue to build throughout the Midwest.”

Marsh launches protection against pandemics

Global insurance broker Marsh has launched PathogenRX, designed to protect US-based businesses and their global operations from pandemics. Marsh teamed up with reinsurer Munich Re and epidemic risk modeler Metabiota to create the product, which uses triggers like Metabiota’s Pathogen Sentiment Index to provide analytics into disease outbreaks, allowing businesses to more confidently project and protect against potential losses. The policy can be tailored to provide coverage for specific expenses, geographies, types of disease and times of year.

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PEOPLE Beazley ups protection for charities

Specialist insurer Beazley is arming charities with insurance protection if a fundraiser is canceled, including income derived from donations made at events. In order for such donations to be included, a similar event will need to have been held at least once before to provide a benchmark for the level of cover required. “Donations raised at events are such an important element of charity fundraising that we were determined to offer them some protection,” said Beazley contingency underwriter Seren Eaglestone.

Allianz offers insurance for river cruise customers

Allianz Global Assistance has partnered with American Queen Steamboat Company [AQSC] to provide travel protection to customers on its river cruises. Customers who purchase the coverage for an AQSC cruise will receive benefits such as trip cancellation and interruption, baggage protection, and emergency medical and transportation. “We’re pleased to partner with a premier riverboat operator and protect the unforgettable, novel journeys that AQSC offers to its sophisticated travelers,” said Allianz Global Assistance CEO Mike Nelson.

Aflac rolls out new cancer care program

Aflac has announced the launch of a new cancer protection program that covers modern approaches to prevention, diagnosis and treatment. Aflac Cancer Protection Assurance offers coverage for screening tests and surgeries performed on the basis of genetic testing results. It also increases the wellness payout for early diagnosis, includes coverage for nonsurgical treatments and features an annual care benefit to help manage the costs of delayed effects. “We recognize that as cancer treatment evolves, so do the needs of policyholders, and so should our products,” said Aflac VP Wendy Herndon.

NAME

LEAVING

JOINING

NEW POSITION

Kirk Bantz

USI Insurance

JLT Specialty USA

Senior vice president

Ann Carlin

N/A

Erie Insurance

Vice president

Diane Christiansen

MHA Insurance Agency

Satellite Agency Network Group

Commercial lines placement specialist, AccessPlus

Luis Contreras

N/A

Mortgage Guaranty Insurance Corporation

Vice president and national account manager

John English

N/A

Aon

CEO, captive and insurance management business

Linsay Hohmann

N/A

CSAA Insurance Group

Vice president of service

Mark D. Lyons

Arch Capital Group

AIG

Senior vice president and chief actuary, general insurance

Susan Neely

American Beverage Association

American Council of Life Insurers

President and CEO

Lindsey Nieves

N/A

XL Catlin

Assistant vice president and underwriting manager, South and Central zone

Matt Palczer

N/A

Erie Insurance

Vice president of property and subrogation

John Turner

CIT

Associated Agencies

Vice president of finance

Aon names new unit CEO

Broking giant Aon has named John English as the new CEO of its captive and insurance management business. English, who currently serves as the unit’s chief operating officer and EMEA managing director, is moving into the CEO role after a decade with Aon. He has more than 30 years of global experience across insurance, reinsurance and the alternative capital markets. “John’s diverse geographical experience, extensive knowledge of the captive industry and deep understanding of client needs means he is perfectly positioned to deliver innovative and market-leading solutions to clients,” said Rory Moloney, CEO of Aon Global Risk Consulting.

Erie appoints new VP

Erie Insurance has appointed Ann Carlin as vice president, overseeing first notice of loss, customer service operations and strategy. She has served in the role on an interim basis since March. A 25-year veteran of the industry, Carlin began her career at Erie Insurance as a part-time policy processor and first notice of loss representative. In 2000, she became a full-time inside claims representative and later a supervisor. In 2011, Carlin moved to customer care operations, where she held several leadership roles. Most recently, she served as director of contact center operations.

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UPFRONT

WORKERS’ COMP UPDATE NEWS BRIEFS Workplaces safer overall, but serious injury costs are rising

While workplaces are getting safer, the cost of serious injuries is going up, according to the most recent Liberty Mutual Workplace Safety Index. The study found that the number of serious workplace injuries and illnesses has fallen by 1.5% since 2017. However, their cost – medical and lost-wage payments – has increased by 2.9%. “To effectively improve safety, each employer needs to understand the root causes of the most serious workplace injuries they experience and the ways to effectively mitigate these through training, equipment and work design,” said Liberty Mutual’s James Merendino.

State-financed insurance company clears hurdle in Illinois

A plan by Illinois Democrats to set up a state-monitored insurance company to drive down workers’ comp costs was approved by a 62-43 vote in the state’s House of Representatives. The independent underwriter would be funded by a $10 million state loan and would act as an insurance company in the market and pay back the loan. Glenview Democratic Rep. Laura Fine said the state-backed insurer would compete with policy writers, which Democrats claim haven’t lowered premium rates in concert with costsaving changes they made back in 2011; the same legislation was vetoed last year by Republican Governor Bruce Rauner.

California security firm owner arrested for fraud

Security firm owner Troy Carson has been arrested for fraud. According to the California Department of Insurance, Carson under-reported his payroll expenses by more than $12 million,

allegedly scamming his workers’ compensation insurer out of $3.2 million. Carson was also accused of creating a new company and fabricating the number of employees and how much he was paying them in order to reduce his insurance costs. According to SFGate, authorities were prompted to investigate after allegedly spotting irregularities in Carson’s reporting of employee injuries.

Worldwide Facilities adds workers’ comp division

Wholesale insurance brokerage and MGA Worldwide Facilities has launched a new workers’ compensation division led by senior vice president Todd Pollock, who has more than 25 years of workers’ comp experience under his belt. Minimum premiums will start as low as $1,000, and there’s no maximum for larger insureds, who might also be able to purchase loss-sensitive options. The division will accept most classes of business, including higherhazard exposures such as healthcare, transportation and construction.

Startup designs wearable device aimed at increasing safety

MakuSafe, an Iowa-based startup, has developed a wearable device that captures workplace environmental data and hazards to improve safety and help insureds and carriers better process workers’ comp claims. The MakuSafe wearable constantly gathers real-time environmental and motion data that can help manufacturing companies better understand workplace risks and automatically report near-miss or risky situations. Data collected is processed immediately in the MakuSmart cloud platform and presented on a dashboard that helps workplace safety managers identify trends, locate frequent problem areas and even proactively order relevant equipment or supplies.

From wild swings to little waves A confluence of factors has tamed what was once a turbulent workers’ compensation market Competition in the workers’ compensation market is fierce. Carriers nationwide are keen to take a bite out of the current soft market. Price competition is rife, and there are plenty of insurers willing to take on workers’ compensation risks. Why are carriers so interested in this sector? Simply put, it’s a profitable business. In recent years, record amounts of capital have been pumped into the insurance market, resulting in insurers taking on heavier risks and writing more hazardous lines of business. As in any insurance cycle, as carriers take on bigger risks, they will eventually start to incur more losses and become more conservative in their approach. This leads to higher pricing and reduced competition because fewer insurers are interested in taking on the risk. However, whereas the workers’ compensation market used to see “wild swings from hard to soft” with each market cycle, it’s now only seeing “little waves,” according to Todd Pollock, senior vice president and head of the new Boston-based workers’ compensation division at wholesale insurance brokerage and MGA Worldwide Facilities. “Insurers can manage the impact of market swings by adhering to their underwriting principles, which is not an easy task in this marketplace,” Pollock says. “They need to understand exactly what risk they’re insuring and have the right people and models to carry out that underwriting plan.” Some workers’ compensation insurers are

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turning to predictive modeling, deep learning and AI capabilities to better understand their risks. However, Pollock doesn’t think these technologies have had a huge impact on the market yet. “While predictive modeling has certainly affected some workers’ compensation carriers, I don’t think it has made a great impact in workers’ compensation insurance,” he says. “In recent years, the losses have steadied, and the amount of capital in the marketplace is the highest it has ever been. These are significant factors contributing to the soft market.”

“In recent years, the losses have steadied, and the amount of capital in the marketplace is the highest it has ever been” Better education and understanding around workplace safety and recovery best practices have also made an impact. Pollock points out that insurers and insureds have both become more educated about where to send injured employees and how to handle claims. “The medical community has become more educated in how to manage injured employees, including more oversight of dispensing heavy medications,” he says. “It all adds up.” Greater awareness around pain management seems to have offset some of the burden on workers’ comp insurers caused by inflation in medical costs, which Pollock says has been a pleasant surprise. “I’m a little bit surprised the inflation in healthcare costs hasn’t impacted workers’ compensation losses more,” he says.

Q&A

Bill Donnell

Unlocking a new world of value

President and CEO NATIONAL COUNCIL ON COMPENSATION INSURANCE

Years in the industry 18 Fast fact Before taking the helm at NCCI in 2016, Donnell served as president of US property & casualty reinsurance at Swiss Re

How is new technology impacting the workers’ compensation industry? Technological advances are changing the way we measure success for the workers’ compensation system, particularly our return-towork efforts. Thirty years ago, success might have been a worker with a catastrophic injury returning to modified duty in a wheelchair. Today, maybe that same worker in a wheelchair can return to full duty, thanks to advances in technology and robotics. Tomorrow, they might be walking in an exoskeleton, working right alongside their co-workers. Most importantly, [the workplace] will be a safer place to be. Whether it’s robots taking on the more dangerous tasks or safetyenhancing wearables, new technology is likely to further reduce the frequency of workplace accidents. Furthermore, the workplace of the future will be more connected. Employers will be able to monitor hazardous conditions 24/7 and track workers’ safety remotely. Carriers and other stakeholders can amass data for more robust risk management analysis. The entire system gets smarter.

What challenges might new technologies bring? Perhaps the greatest fear associated with the constant advancement of technology is the elimination of jobs, whether because of automation or obsolescence. However, rather than ‘elimination,’ a better word to use is ‘transformation.’ With new technology comes new jobs, new industries and new solutions that we can’t conceive today. It will take time – but connecting with the work of the future means understanding its evolution and identifying the risks that will inevitably emerge.

How have workers’ compensation insurers done in terms of innovation? Workers’ compensation insurers have done a tremendous job of innovation when it comes to workplace safety. Over the last 30 years, workplace fatalities are down 30%, and we’re in the midst of a long-term downward trend of injury incidence overall. Likewise, the industry is innovating the ways we get injured workers back on the job by leveraging things like new medical treatments and emerging technology.

How important are Big Data and predictive analytics going to be in the future of workers’ compensation? Data has long been a critical tool in understanding what’s happening in workers’ compensation, and that will not change. As we develop new tools and methods to analyze that data, we will grow increasingly more confident in our projections and better able to spot trends and leading indicators. When you combine Big Data and predictive analytics with other technology, such as artificial intelligence and machine learning, there’s a whole world of value soon to be unlocked to make the industry even smarter.

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UPFRONT

TECHNOLOGY UPDATE

Property insurance technology goes 3D Immersive media technology will give property insurers a new level of depth in building assessments

Once scanning is complete, the data is sent to a cloud server. “What we’ve done at Matterport is take advantage of declining costs of sensor technology and combined that with advances in cloud computing and mobile capabilities to provide a fully automated immersive media experience,” Schmitt says. Large insurance carriers managing a portfolio of properties simply don’t have the

“It has the potential to provide a new data set on an insured property that has never been available”

Having a snapshot of a moment in time can be invaluable for insurers and brokers. Whereas in the past, that snapshot consisted of a standard photograph, now it can be a fully immersive 3D media experience. In the aftermath of Hurricane Harvey, for instance, a claims adjuster could have visited a damaged property, planted the immersive media technology and let it record a 3D model of the property. The adjuster could then revisit that 3D model at any stage of the claims process.

NEWS BRIEFS

“This technology simplifies insurance processes and creates transparency for all parties involved,” says Bill Schmitt, SVP of corporate and business development at immersive media technology company Matterport. “It enables the streamlining of a lot of different activities and drives cost savings and speed.” Matterport’s system – including media capture technology, cameras and cloud service – is fully automated. All a user has to do is set the camera down, press a button and then get out of the way as the camera scans.

Mitsui ups its artificial intelligence game

Mitsui Sumitomo Insurance has announced plans to use AI software from Kokopelli to analyze companies’ financial statements in an attempt to reduce the time it takes to determine creditworthiness. The insurer typically receives about 60,000 applications for performance bond insurance each year, 10% of which take as long as a week to assess, since the cases usually involve high operations costs and companies with multiple contracts. Mitsui hopes the software will shorten the assessment time.

resources in a risk management team to be able to evaluate every nook and cranny in a huge portfolio, Schmitt adds. However, a quick 3D scan would enable insurers and brokers to better understand the exposures and therefore focus on increasing their premium-to-risk ratio. Last month, Matterport announced that State Auto Labs Fund had joined its growing list of strategic investors, which will help accelerate the expansion of immersive media technology in the insurance industry. “It has the potential to provide a new data set on an insured property that has never been available,” Schmitt says. “It’s akin to how telematics has transformed the auto insurance industry. We believe immersive media technology will do the same for property insurance.”

Nationwide makes drone venture capital investment

Nationwide has made a venture capital investment in Betterview, a property insurance solutions company that specializes in AI and drone technology. Nationwide hopes Betterview’s expertise in drones and AI will greatly help it handle disaster-related claims. “Drones and artificial intelligence will play a critical role in meeting the needs of our customers in the future of both underwriting and claims response,” said Nationwide’s Scott Sanchez. “It’s why we’re so excited about this partnership with Betterview.”

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Q&A

Riley Simmons Senior product manager EZLYNX

The intersection of AI and automation Why should agents and brokers consider using the EZLynx Automation Center?

Years in the industry 8 Fast fact EZLynx launched its Automation Center in March with an initial focus on “advancing and strengthening communications with customers”

There are lots of repetitive processes that take place inside an insurance agency. There’s also a lot of information that flows through an agent’s management system. EZLynx Automation Center helps agents save time by automating many of these tedious processes, as well as take advantage of new opportunities they otherwise might have missed due to the sheer volume of data they would have to sift through each day.

Why is it important for independent agents to have an agency management system? The efficiency of using a single system for rating, agency management and customer life-cycle management has always been obvious, but what’s changing is the power that’s being unlocked when we combine that with where we’re going with artificial intelligence and automation. Both the productivity gains and the revenue opportunities are going to be off the charts as all these pieces start to come together.

How can agents use new technologies to become more efficient and effective for clients? Renewal management is a good example. It’s difficult to keep track of renewals as your agency grows. Two technologies can basically put that process on autopilot. First, something like EZLynx Retention Center gives agents a consolidated view of upcoming renewals, sorted by the risk of losing the business, so they know exactly which accounts to focus on. Second, pair that

Insurance analytics market expected to boom

The global insurance analytics market is expected to grow from $6.63 billion this year to $11.96 billion by 2023, a compound annual growth rate of 12.5%, according to B2B research firm MarketsandMarkets. The projected growth will be driven largely by the rapid adoption of data-driven decision-making processes and the increasing use of advanced analytics techniques. MarketsandMarkets expects the customer management and personalization applications of insurance analytics to grow at the highest rate during this period.

with intelligent automation, and you’ve got a system that could automatically create system tasks for agents to review their high-risk accounts, automatically send thank-you emails or letters to accounts that did renew, and automatically put the accounts that didn’t renew on long-term marketing campaigns to win them back in the future. The agent can focus on a handful of highrisk accounts while the system intelligently takes care of hundreds of other processes.

How have consumer demands changed, and how can automation help agents meet them? Consumers expect a 24/7 agent. AI and natural language processing can help with that. At our AgentLynx User Conference this year, we demoed a prototype feature to showcase the technology, where if a consumer texted or emailed their agent asking for a copy of their auto ID card, our system could understand what they were asking for, generate the document, and then automatically email or text it back to the consumer. It’s not hard to imagine the other applications for this kind of technology.

What trends and tools do you expect to emerge in the near future with regard to automation? We expect to continue seeing our industry adopt AI and natural language processing, which are two technologies already being leveraged heavily in other industries. Integrated into a single platform system, these technologies are going to help agents remain nimble in an increasingly competitive market.

Willis Towers Watson upgrades pricing software

Willis Towers Watson has launched Radar 4.0, an updated version of its pricing software. The update allows users to build gradient boosting machines and classification models directly within the platform’s decision support environment. The software can be used in conjunction with WTW’s point-of-sale rating software, Radar Live, allowing users to directly deploy enhanced rating and underwriting strategies. “In increasingly competitive global markets, Radar 4.0 delivers a simplified and efficient process,” said WTW’s Colin Towers.

Chubb launches small business platform

Chubb has launched a new digital platform for independent agents to quote, issue and service small business accounts. The insurer describes the Chubb Small Commercial Marketplace as “an intuitive digital experience designed to modernize the placement and service of small business insurance.” Key features include multiline quote capabilities, support for both standard and specialty lines, extensive data pre-fill with high rates of straight-through processing, and immediate access to Chubb underwriters.

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UPFRONT

OPINION

GOT AN OPINION THAT COUNTS? Email iba@keymedia.com

Reputation resilience Angry stakeholders, coupled with rapid communication, can expedite the economic impact of a reputational crisis, writes Nir Kossovsky WE’VE KNOWN for years that sexual harassment and abuse existed in many workplaces. We’ve known that a deranged individual can acquire a gun and devastate numerous lives. And we’ve known that we were surrendering personal information to Facebook and third-party companies in return for a more customized user experience. But the behavior of Harvey Weinstein, Steve Wynn, Cambridge Analytica and the tragedy of the Parkland, Florida, school shooting have upended our society’s tolerance for industry sins. As a result, companies and their leaders now face the threat of economic damage from angry stakeholders. We are living through a time of cultural change, when shifting attitudes are altering public perceptions of what’s important and what’s tolerable – basically, what different stakeholders expect. Companies are recognizing the need to react to external events in ways that meet stakeholder expectations, as Chubb and Lockton did when they disassociated themselves from the NRA. A credible threat of a consumer boycott no doubt spurred their action. That’s why, in the face of the Cambridge Analytica scandal, Facebook shares dropped dramatically. Initial reaction to the company’s attempts to explain itself has been mixed; many stakeholders feel the company failed them by not recognizing their implicit expectations and therefore not acting sooner, more forcefully and more transparently. Financial damage due to what The Econo mist termed a “reputation meltdown” is not

just manifesting itself at Facebook. The cost of reputational attacks against companies has risen by more than 500% over the past six years, according to research conducted by my firm, Steel City Re. The onslaught is fueled by weaponized social media; it’s ironic that the cultural shifts we are seeing today are occurring at so sweeping a pace in part because of Facebook itself, which has made rapid communication so prevalent.

ment for businesses. Today, it is crucial for companies to consider reputational risk sideby-side with operational risk; they are both threats to assets of value that can be managed, measured and insured. An operational crisis occurs when something a company is expected to control goes wrong. Often this involves a failed control for ethics, innovation, safety, security, sustainability or quality. A reputational crisis occurs when stakeholders believe the company didn’t make an authentic effort at mitigation – and they’re disappointed or angry that the company’s leadership failed them. Companies that want to thrive in this new cultural climate need to embrace the concept that reputational risk is at least as consequential as operational risk. They need to task their enterprise risk management teams with the mission of understanding stakeholder expectations and building reputation resilience. And they need a risk management plan that enables them to build an affirmative narrative about corporate practices and governance before a reputation risk storm hits. Such a narrative requires the storytelling power of

“Companies that want to thrive in this new cultural climate need to embrace the concept that reputational risk is at least as consequential as operational risk” Social media is being harnessed by influencers, including politicians, who are adept at channeling the public’s anger or disappointment toward specific targets. The generally angry mood that exists today has led politicians, the media, activist investors, customers and other stakeholders to direct their anger not only at the corporate entity, but also toward the individuals who lead it. And while large companies have significant marketing resources available to protect and rehabilitate their brands, individual executives and board members are far more vulnerable and will often wear a ‘scarlet letter’ for life. At the moment, this climate is coinciding with shifts in expectations that are suddenly and profoundly changing the risk environ-

third-party warranties, insurances and bonds to reassure stakeholders that the company is well run in a way that is pre-positioned, simple to understand and completely credible. Building these defenses can mitigate risk, deter attacks, and provide outside validation of the company’s practices and governance, with the added benefit of casting potentially damaging events as anomalous rather than systemic failures. Dr. Nir Kossovsky, CEO of Steel City Re, writes extensively on corporate reputation, arbitrages algorithms measuring its value, and helps companies forge reputation resilience with innovative mitigation and insurance-based strategies.

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PEOPLE

INDUSTRY ICON

FULL SPEED AHEAD Zurich’s new North American CEO, Kathleen Savio, is no stranger to the company. She shares an inside view of Zurich’s evolution and reveals how she’s driving innovation for both customers and employees

KATHLEEN SAVIO, the newly minted CEO of Zurich North America, has had a front-row seat to Zurich’s evolution as a global insurer. Savio has been part of the company for 27 years and has done everything from writing technical manuals – her first-ever position at Zurich – to managing corporate communications, marketing functions and strategic initiatives. “From my perspective, it’s been a tremendous experience to be with one organization,” she says. “The organization itself has changed in multiple ways … and being able to be a part of that in all different kinds of roles – and, as I spent more time and gained more experience with the organization, being in positions to help shape that – has been a very enriching way to spend a career.” Savio was the chief administrative officer for North American commercial operations for five years, a role she affectionately refers to as “chief of all other,” where she was responsible for communications, human resources, community investments, risk and audit. “Having a vantage point to the organization through multiple lenses was a great learning experience and something that I’ve been able to carry with me into the role I had just previous to this one, which was president of our alternative markets business,” she says. Savio headed up the alternative markets unit from 2012 to 2017, and she looks back at one acquisition in particular as an important moment in her career. At the end of 2015,

Zurich acquired Rural Community Insurance Services [RCIS], the second largest crop insurer in the US. Savio was a key member of the acquisition team and oversaw the integration of the business into Zurich’s North American platforms, which took place in under a year. The business has since thrived as part of Zurich, though the process wasn’t

A new path Education has been a big part of Savio’s most recent career move. She refers to a phrase she borrowed from a friend to explain how the year has been since she took on the role of North American CEO in January. “I’m still in this transition, in the ‘year of firsts,’” she says. “My emphasis is on what’s

“We have a great advantage here in North America of being part of the Zurich Group because the group itself is heavily focused on innovation, and we’re making really interesting acquisitions and forming partnerships that we can then leverage here in the United States” without its challenges. “We knew this business because we had had a relationship with [RCIS] for many years and always were interested in it, if the opportunity came up, for an acquisition,” Savio says. “But both the challenge and opportunity was getting to dig in even deeper to understand the business itself. I love to learn, so this was a chance for me to learn even more about this business, learn about the management team and be a bridge to bringing these pieces together in a way that added up to something even more.”

most important out of the gate [and] where I want to focus my time and energy.” Savio goes back to Zurich Group’s strategy, which is laser-focused on customers, simplification and innovation. “I’m driving to bring that strategy to life here in North America in the fastest, most efficient and most effective ways, always on behalf of our customers,” she says. Zurich’s Idea Center platform, which was launched in May, exemplifies these principles by allowing employees to share ideas about the best way to serve clients and bring to

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PROFILE Name: Kathleen Savio Title: CEO, North America Company: Zurich Insurance Group Based in: Chicago Years in the industry: 27 Fast fact: Savio is a member of the Chicago Network, an organization of Chicagoâ&#x20AC;&#x2122;s leading professional women

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PEOPLE

INDUSTRY ICON

light new concepts about how business can be done. Zurich’s North American arm also plans to launch an innovation lab to encourage collaboration, ideation, problem-solving, and agile testing and piloting. The lab is meant to not only bring together Zurich’s people to tackle challenges and find new opportunities, but also to engage customers and key distributors in the process of innovation. “We have a great advantage here in North America of being part of the Zurich Group because the group itself is heavily focused on innovation, and we’re making really inter-

“Being honored for things like supporting women in the workplace is powerful for us, but we’ve spanned even beyond that to look at opportunities for other groups of people as well,” Savio says. Zurich has a number of employee resource groups, and while the largest one is for women, there are also groups focusing on veterans, African Americans and young professionals. In addition, Zurich has adopted a flexible work policy to support its employees, recognizing that they have responsibilities outside of the office.

“We want to provide an environment for [employees] where they can figure out ways to optimize how they work so that they know they are contributing, they know they are delivering, and they know they are adding value” esting acquisitions and forming partnerships that we can then leverage here in the United States,” Savio says. “Where do we see opportunities, and what can we do to innovate, whether it’s through technology, processes, products or services?”

Workplace innovation The backbone of any company is its customers and its employees. While some insurers are struggling to recruit fresh and diverse faces, Zurich is already ahead on that front. It was recently named of one of 2018’s Top Companies for Executive Women by the National Association for Female Executives. Savio says being recognized with an award that reflects the values of the organization is particularly gratifying – after all, Zurich’s strategy can’t be fulfilled without its people. However, the company doesn’t just focus on promoting the advancement of a single group.

“We want to provide an environment for them where they can figure out ways to optimize how they work so that they know they are contributing, they know they are delivering, and they know they are adding value,” Savio says. It’s about helping employees achieve worklife balance, but also navigate a career and be successful when implementing Zurich’s customer-focused strategy. “These are truly exciting and interesting times, and for us here, never losing sight of that focus on our customer and what their needs are – that’s where we start and end,” Savio says. “Using this idea of being able to simplify what we do on behalf of the customer, and frankly, on behalf of our people, and then investing our energy in the right kinds of innovations that will propel us forward and that will continuously provide solutions for our customers – that’s just [what] I wake up every morning thinking about.”

ZURICH INSURANCE GROUP BY THE NUMBERS

1872

Year the group was founded as a marine reinsurer in Zurich, Switzerland

21%

Proportion of women on Zurich Group’s leadership team

54,000

Approximate number of Zurich employees worldwide

210

Approximate number of countries and territories Zurich serves

$33.1 billion

Amount of Zurich’s gross written premium and policy fees in 2016

Zurich Insurance Group’s rank on Forbes’ list of the world’s biggest public companies

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SPECIAL REPORT

ELITE WOMEN 2018

2018 ELITE WOMEN INDEX PAGE

COMPANY

Acentria Insurance

NAME

PAGE 52

Jessica Davis

COMPANY

Brown & Riding

NAME

Anne Lund

Freberg Environmental

NAME

PAGE 26

Linda Corrigan

COMPANY

Acentria Insurance

Mary Lawless

Brown & Riding

Gloria Lam

Gard (North America) Inc.

Sandra Gluck

AHT Insurance

Tara Trout

Brown & Riding

Shaida Monshi

Gillis, Ellis & Baker

Holly Jordan

Cathy Griffin

Gillis, Ellis & Baker

Liz Van Dervort

Gillis, Ellis & Baker

Betsy Ellis Clement

Hub International Insurance Services Inc.

Michelle Boyer Pinel

AHT Insurance

Caren Huminski

Brown & Riding

AIG

Donna DeMaio

The Buckner Company

Lianna Kinard

Alliant Insurance Services Inc.

Francesca D'Angelo

The Buckner Company

Missy McGlone

Alliant Insurance Services Inc.

Lori Ann Long

The Buckner Company

Kerry Belt

Alliant Insurance Services Inc.

Kristen Handel

Burns & Wilcox

Rebecca Roberts

Hull & Company LLC

Jenny Crane

Independent Insurance Agents of Oklahoma

Denise Johnson

Insurance House

Jacque Schaendorf

Insurance Management Company

Lynn Mogel

Ironshore Services Inc.

Charlotte Moscardelli

K&K Insurance Group

Stephanie Waldron

Alliant/Mesirow Insurance Services Inc.

Aon Benfield

Amy Steinback Catherine Mulligan

Aon M&A and Transaction Solutions

Allyson Coyne

Assurant

Barbara C. Bufkin

Atain Insurance Companies

Laura Bates

AXIS Re US

Tiina Caldara

AXIS Insurance

Baldwin Krystyn Sherman Partners

Blue River Underwriters

Breckenridge Insurance Group

Breckenridge Insurance Services

Janice Ratliff

Burns & Wilcox

Gina Jones

Chubb Group

Julie Dillman

Cobbs Allen

Margaret Ann Pyburn

Combs & Company

Susan Combs

Connelly-Campion-Wright Insurance Agency

Kacy Campion Renna

Continental Underwriters Inc.

Amanda Huang

Lawley

Sherry Ford

Direct Connection Advertising & Marketing LLC

Anita Nevins

Liberty Mutual Insurance

Shelia Anderson

Sally Dolce

E&S/Specialty at Nationwide

Carol Sheehan-Mathis

Mackoul Risk Solutions

E&S/Specialty at Nationwide

Heather Schenker

Markel Assurance

Erica Lathrop

Cricket Thomas

Eagan Insurance Agency

Cindy Paulin

Marsh

Karen Beldy Torborg

Sonya Oâ&#x20AC;&#x2122;Malley

Empire Insurance Group Inc.

Christine Larson

Miller Insurance Agency

Kelli Gentry Miller

Victoria Dearing

Everest Insurance

Megan Watt

NCF Insurance Associates

Dulce M. Suarez-Resnick

Laura Sherman

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Be inspired by 95 of the insurance industry’s most trailblazing women THE HUNDREDS of nominations that flooded in this year for IBA’s annual Elite Women list made it clear that women have been making their voices heard in what was once a male-dominated field. While women continue to face unique challenges when building their careers, the insurance professionals on the following pages have proved that climbing to the upper echelons of the industry is no longer impossible. Twenty-two percent of this year’s Elite Women hold C-suite positions, while many others have taken on management-level roles at their respective companies. From the CEOs who built companies from the ground up to leaders in environmental insurance and insurtech, these 95 women are shaping a new future for insurance. Their stories will undoubtedly help to encourage and empower all women who strive to be the insurance industry’s next great leaders. Check out one of IBA’s Women in Insurance summits this fall, featuring panel discussions, networking and more. Find all the details at women.ibamag.com.

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Kitty Ambers

Starr Companies

Beth Goldberg

New Empire Group Ltd.

Deborah K. Mackoul

Summit Consulting LLC

Carol P. Sipe

Superior Underwriters

Kelley Ayuso

United Insurance Agencies and Affordable Auto Insurance

Heidi Vescio

USG Insurance Services Inc.

Debbie Williams

Valley Insurance Agency Alliance [VIAA]

Elizabeth Powers

Vertafore

Amy Zupon

W.R. Berkley Corporation

Melissa Emmendorfer

Willis Towers Watson

Maryann McGivney

Woodruff Sawyer

Priya Cherian Huskins

Woodruff Sawyer

Kristine Furrer

Work At Home Vintage Experts [WAHVE]

Sharon Emek

Worldwide Facilities LLC

Esmeralda Temores

Worldwide Facilities LLC

Julie Savage

Worldwide Facilities LLC

Jordan Connelly

Wortham Insurance

Regan Katz

Norcross

Lizzy Adkins

Oak Street Funding

Kirsten Petras

Private Risk Management Association

Lisa Lindsay

ReSource Pro

Laurie Ranegar

RIC Insurance General Agency Inc.

Marcia McGrath

RIC Insurance General Agency Inc.

Michele Epstein

RLI Insurance Company

Jennifer Klobnak

RSS Insurance

Laura H. Pettit

NAME

PAGE

COMPANY

RT Specialty

Brenda Ballard Austenfeld

RT Specialty

Viviane Krief-Woodcock

Sedgwick Claims Management Services Inc.

Elizabeth Francy Demaret

Service Lloyds Insurance Company

Jan Kearbey

Society of Environmental Insurance Professionals

Angela Dybdahl Oroian

Wortham Insurance

Lori Wheeler

Specialty Program Group

Yiana Stavrakis

Wortham Insurance

Lori Freedman

XL Catlin

Karen Gharibians

Zurich North America

Kathleen Savio

Sports & Fitness Insurance Corporation

Jennifer Urmston Lowe

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Contact Ames & Gough at 703-827-2277 or email us at csiplus@amesgough.com for more information. 8300 Greensboro Drive l Suite 980 25 www.ibamag.com McLean, VA 22102 l www.amesgough.com

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8/06/2018 4:58:40 AM

SPECIAL REPORT

ELITE WOMEN 2018 CATHERINE MULLIGAN Managing director Aon Benfield

As managing director of Aon Benfield’s global cyber practice group, Catherine Mulligan is a key contributor to the public-sector dialogue around cyber insurance. At a 2015 hearing of the US Senate Subcommittee on Consumer Protection, Product Safety, Insurance and Data Security in Washington, DC, Mulligan provided testimony on the state of the cyber insurance market. She also spoke at a 2016 hearing of the White House Commission on Enhancing National Cybersecurity. Recently, Mulligan presented to the Federal Advisory Committee on Insurance and is a regular participant at Department of Homeland Security and Treasury Department roundtables. Prior to joining Aon in 2017, Mulligan served as the head of professional liability at Zurich North America, where she managed the portfolios and teams underwriting miscellaneous and healthcare professional liability, as well as security and privacy.

LINDA CORRIGAN

ALLYSON COYNE

Underwriting manager, LawyerGuard program

Managing director and senior broking officer

Freberg Environmental

In 2006, Linda Corrigan joined Freberg Environmental [FEI] as a professional liability underwriter. Just a decade later, she was promoted to underwriting manager, responsible for the underwriting strategy of LawyerGuard, FEI’s lawyers’ professional liability program. Prior to FEI, Corrigan was a senior broker of professional liability and property & casualty coverage for the technology industry at Marsh McLennan. She also spent time with AIG, Brown & Brown, Suncoast Insurance Associates and Poe & Associates, producing and underwriting a variety of products, including professional liability for lawyers, accountants, architects and engineers, public officials and school leaders; multimedia liability; miscellaneous E&O; general liability; and umbrella coverages.

Aon M&A and Transaction Solutions

As a managing director on Aon’s Transaction Solutions team, Allyson Coyne advises clients in the areas of representations and warranty insurance and other transaction-relation coverages. Coyne also serves as senior broking officer, responsible for developing and executing the team’s broking strategy and leveraging carrier relationships across the Transaction Solutions practice. Over the course of her 17-year career specializing in bespoke M&A insurance solutions, Coyne has been involved in matters concerning financial product lines for a wide variety of clients, including financial institutions, biotech and Fortune 500 companies.

BARBARA C. BUFKIN Executive head of business development, commercial lines Assurant

Winner of the Woman of Distinction Award at the 2017 Insurance Business America Awards, Barbara Bufkin leads P&C growth and innovation for Assurant as the firm’s commercial lines business development executive. Bufkin joined Assurant in July 2017 from Hamilton USA, where she was a founding executive. Her nearly four decades in the insurance and reinsurance industry have spanned executive leadership roles on a global platform, encompassing business development, product creation, operational and strategic responsibilities, and ceded and assumed reinsurance. Throughout her career, Bufkin has fostered a culture of innovation and mentorship, leading teams composed of diverse talent. She has been a recognized leader within industry groups, including being named the 2012 Insurance Woman of the Year by the Association of Professional Insurance Women [APIW] and being honored with the 2015 Inclusion Champion Award by the Insurance Industry Charitable Foundation [IICF]. Outside of Assurant, Bufkin currently serves as chair of the IICF, chair of the leadership council for The Institutes’ Griffith Educational Foundation, sits on the board of trustees of Gamma Iota Sigma and is president-elect of the APIW.

www.ibamag.com

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8/06/2018 3:28:50 AM

LAURIE RANEGAR Director of strategic initiatives and business transformation ReSource Pro

Laurie Ranegar serves as the director of ReSource Proâ&#x20AC;&#x2122;s Insurance Experience Center. Previously, she was director of strategic initiatives, business transformation and service delivery for ReSource Pro. A close advisor to the COO on service delivery, Ranegar has more than three decades of insurance industry experience in business process transformation and operational performance and optimization, targeting both revenue and expense. She is specialized in strategic operational leadership for high-growth, rapid-change organizations. Prior to joining ReSource Pro, Ranegar was the senior vice president of operations for Tower Group International. She earned a BA in economics from the University of Pittsburgh, is a certified black belt in Lean Six Sigma and holds a Certified Insurance Operations Professional designation from the CIOP Institute.

www.ibamag.com

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8/06/2018 3:29:04 AM

SPECIAL REPORT

ELITE WOMEN 2018 DULCE M. SUAREZRESNICK Vice president of underwriting, commercial and personal lines NCF Insurance Associates

Dulce Suarez-Resnick specializes in commercial habitation risks at NCF, which she joined in 2009. She works tirelessly to educate clients of different ages and backgrounds on insurance, believing that the personal touch is irreplaceable. “I know that our industry relies on technology for efficiency,” she says, “but technology cannot replace the value of the trusted advisor who knows their customers and families.” Outside of NCF, Suarez-Resnick serves as the Citizens Property Insurance Corporation liaison for the Latin American Association of Insurance Agencies [LAAIA] and is past president of LAAIA and the local chapter of the National Association of Insurance Women. She has also chaired the legislative committees of both associations. In 2006, Suarez-Resnick was appointed to the Financial Literacy Council and has served on the Florida Alliance on Hurricane Insurance. She was also recently selected as one of 10 finalists for Florida insurance commissioner.

Cricket Thomas, CRIS SVP, Sr. Underwriter Contractors Elite Program Blue River Underwriters

AMANDA HUANG Chief operating officer Continental Underwriters Inc.

As COO of Continental Underwriters Inc., Amanda Huang brings together and maximizes each facet of the business to achieve efficiency and excellence in providing insurance solutions for companies in the forest products industry. Since starting her insurance career, Huang has held a variety of positions at Continental Underwriters before assuming the role of COO in early 2018. From building agency management systems to assembling a high-performing team, Huang’s main focus is on the achievement of short- and long-term growth strategies that stay true to the company’s culture and core values. “I have the pleasure of having Amanda Huang as a mentor at our company,” colleague Melissa Berry told IBA. “She is well respected, and everyone enjoys working with her. Amanda thinks on the cutting edge of our domain, leads by example, and many people at our company find her enthusiasm and dedication both inspiring and motivating. Give Amanda the really challenging tasks, the ones that everyone else is struggling with, and she will get them done.”

STEPHANIE WALDRON Senior vice president, events and attractions K&K Insurance Group

Stephanie Waldron is senior vice president of events and attractions at K&K Insurance, where she oversees a staff of underwriting professionals insuring thousands of prestigious events, fairs, festivals, tourist attractions and zoos across the US, including presidential campaigns and events that attract millions each year. In her 31 years at K&K, Waldron has gained a wealth of expertise in the company’s sports, recreation, leisure and motorsports divisions, which allows her to provide specialized coverage for unique organizations. Outside the office, Waldron is a long-time volunteer with Junior Achievement, teaching skills to young people that will help them excel as they enter the workforce.

Sonya O’Malley, SPHR, SHRM-SCP VP, Human Resources Breckenridge Insurance Group

Victoria Dearing, MBA, AAI, CPCU, RPLU, ARM-P SVP, Professional Liability Broker Breckenridge Insurance Services

Together, women at Breckenridge are going places. Congrats to our THREE Elite Women in Insurance honorees! Join us and GO FURTHER.

www.ibamag.com

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breckgrp.com

8/06/2018 3:29:05 AM

www.ibamag.com

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8/06/2018 3:29:07 AM

SPECIAL REPORT

ELITE WOMEN 2018 CAREN HUMINSKI

DENISE JOHNSON

Practice leader, international aid and development organizations

President and CEO Independent Insurance Agents of Oklahoma

AHT Insurance

After developing a broad base of insurance experience in management liability, errors & omissions, and kidnap, ransom and extortion as an assistant vice president of underwriting for Victor O. Schinnerer, Caren Huminski joined AHT Insurance in 2014. At AHT, Huminski leads the agency’s international aid and development organization practice,

An Oklahoma native, Denise Johnson was the first female chair of the Independent Insurance Agents of Oklahoma’s executive board of directors, and she currently serves as the organization’s president and CEO. Previously, she was vice president of ECI Agency, a 50-year-old family agency. Johnson has been an advocate on the

designing and placing international and domestic insurance programs with complex and unique exposures, and guiding the overall strategic direction and management of the practice. Understanding that the international aid and development community often operates in difficult and challenging circumstances, Huminski makes it her team’s mission to provide strong, effective solutions that allow clients to focus on what matters most.

state and federal level for issues such as workers’ compensation and tort reform. She has also promoted the advancement of women in insurance by assisting in MyNetwork, a mastermind group that started in Oklahoma and now has members across the country. The group aims to not only encourage, empower and enhance women’s leadership in the industry, but also to instill a desire to support and be supported by women who are “walking in the same stilettos.”

JAN KEARBEY Vice president, marketing and sales Service Lloyds Insurance Company

Jan Kearbey currently heads marketing and sales operations at Service Lloyds Insurance Company [SLIC], overseeing the work of 30+ employees. On the marketing side, Kearbey is in charge of developing product marketing communications across all departments, as well as setting the strategy for distribution channel management and customer service initiatives. With more than four decades of operations management experience, Kearbey also works closely with the managing director and the vice president of underwriting on implementing business strategy, managing relationships with key partners and vendors, and overseeing various departments, including underwriting, loss control and claims. Over the course of her career, Kearbey has spoken to and trained an estimated 50,000 insurance professionals. She is extensively involved in training and development for SLIC, having developed and delivered continuing education courses on topics such as managing E&O and ethics in the insurance industry, in addition to designing courses for various associations and in-house training.

JENNIFER URMSTON LOWE National accounts manager Sports & Fitness Insurance Corporation

Jennifer Lowe is celebrating her 20th year as a licensed agent and advisor at Sports & Fitness Insurance Corporation [SFIC], where she helps health clubs and fitness centers find the risk solutions they need. An advocate for the fitness industry, Lowe focuses on educating fitness professionals and business owners on the insurance and risk management needs unique to the industry. She has authored an insurance course for fitness professionals with PTontheNet and has contributed numerous articles to industry associations and publications. Lowe also helped her father establish the International Health & Racquet Sports Association [IHRSA] insurance program for property & casualty insurance in 1999. In addition, she is a founding member of the advisory board for the Association of Fitness Studios, which provides business education and resources to fitness studio owners. Prior to joining SFIC, Lowe was a certified personal trainer and served as general manager of two personal training fitness centers and three corporate wellness centers in Charlotte, North Carolina, managing a team of personal trainers and conducting thousands of training sessions.

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8/06/2018 3:29:10 AM

JULIE SAVAGE Senior vice president/branch manager Worldwide Facilities

Worldwide Facilities’ number-one broker in Irvine, California, and an expert in a number of industry risks and products, Julie Savage joined the company in 1998 when she opened the Orange County office as senior vice president/branch manager and broker. During her tenure, she has run a profitable brokerage operation, in addition to chairing the committee that developed Worldwide Facilities’ vision/core values, participating in the firm’s executive management team and being involved in the professional development program, along with numerous other committees. Savage began her insurance career in 1988 with Northwestern Mutual in Indiana. She moved to California in 1990 and entered the E&S market with RIC Insurance. In 1992, Savage opened an office for Black/White Associates in Orange County, successfully growing that office until she moved to Worldwide Facilities six years later.

www.ibamag.com

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8/06/2018 3:29:19 AM

SPECIAL REPORT

ELITE WOMEN 2018 CAROL SIPE President and CEO Summit Consulting (Great American Insurance Group)

With a passion for teaching and empowering others, Carol Sipe started out at Summit Consulting, a workers’ compensation company, as a training coordinator in 1989 and quickly rose through the ranks. After 10 years, she was appointed vice president of operations. Following another decade in various senior leadership positions, Sipe took the helm at Summit as president and CEO. In this role, she has been integral to the development of Summit’s safety and claims services, technology, and culture of doing the right thing for the company’s 35,000-plus policyholders and 700 employees. A strong proponent of work-life balance, Sipe models to her team the success that comes from setting and keeping healthy priorities. In 2017, Sipe was recognized by her alma mater, Florida Southern College, with the Distinguished Alumna Achievement Award. She also sits on the advisory board of the college’s Barney Barnett School of Business and Free Enterprise.

LAURA BATES Corporate vice president Atain Insurance Companies

With more than 25 years of industry experience in underwriting and management, Laura Bates joined Atain Insurance Companies, a subsidiary of H.W. Kaufman Group, in 2015, moving back to the Detroit area after working in London and Chicago. At Atain, Bates is responsible for the development and implementation of insurance underwriting strategy, management of company programs, and oversight of underwriting procedures, all while enhancing and growing her $100 million book of business. Bates holds two significant insurance industry certifications: Association of the Chartered Insurance Institute (the UK equivalent of CPCU) and Associate in Surplus Lines Insurance.

BETSY ELLIS CLEMENT Vice president Gillis, Ellis & Baker

In January 2018, Betsy Ellis Clement was promoted to shareholder and vice president of Gillis, Ellis & Baker [GEB], where she specializes in commercial insurance, professional liability and personal lines insurance. Over the course of her career at GEB, Clement has developed a special interest in the high-end personal lines arena, spearheading the creation of the personal life program within the firm’s personal lines department, the first of its kind in this area. On a constant quest to grow and learn, Clement completed the Travelers School for Producer Development and is currently pursuing her CRM and CIC designations. An alumnus of the Emerging Philanthropists of New Orleans, Clement is active in many organizations throughout the New Orleans area. She is a member of the board of directors for the Independent Insurance Agents of Greater New Orleans. She also serves on the host committee for Scales and Ales, a premier event of the Audubon Nature Institute, and is a member of the Junior League of New Orleans, where she serves as the chair of the Community Assistance Fund.

MELISSA EMMENDORFER Senior vice president, insurance risk management

KELLI GENTRY MILLER

W.R. Berkley Corporation

Co-owner

As senior vice president of the insurance risk management department at W.R. Berkley Corporation, Melissa Emmendorfer is responsible for purchasing reinsurance protections for the company's operations worldwide. She previously spent seven years with Berkley Re America as a senior VP of underwriting, managing the general casualty and healthcare books.

Miller Insurance Agency

Kelli Miller has spent 35 years as an agency owner and manager, and she remains dedicated to her work, pouring in extra hours to help customers file their claims on time. Last year was a particularly eventful one for Miller, as she helped grow the agency business to a record high, despite various hurdles, from dealing with hurricanes and flooding to helping organize her daughters’ weddings and battling breast cancer. Outside of the office, she is a volunteer spokesperson and fundraiser for the American Cancer Society.

www.ibamag.com

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8/06/2018 3:29:29 AM

THANK YOU TO THOSE WHO LEAD THE WAY RLI proudly congratulates the 2018 Elite Women in Insurance, including our own Jen Klobnak.

RLI is a specialty insurer ser ving niche property, casualty and surety markets.

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RLICORP.COM

www.ibamag.com

8/06/2018 3:29:33 AM

SPECIAL REPORT

ELITE WOMEN 2018 LIZZY ADKINS National general adjuster Norcross

SHELIA ANDERSON Chief information officer, corporate functions Liberty Mutual Insurance

As CIO for corporate functions at Liberty Mutual, Shelia Anderson is responsible for IT systems in relation to a number of functions, including finance, HR, legal and data analytics, all geared toward achieving customer success through comprehensive digitization. She heads a team of experts responsible for creating a state-of-the-art technology environment conducive to developing innovative solutions and services to further the company’s competitive global data strategy and upgrade the products and applications for both external and internal clients. Prior to joining Liberty Mutual, Anderson was vice president and CIO for property & casualty insurance at USAA.

Lizzy Adkins began her insurance journey in 1991 as a multiline claims adjuster. Through her career, she has held a range of positions, from claims specialist to marketing director, with experience investigating and negotiating claims and interpreting insurance policies and coverage. Adkins also consults with insurance companies and private law firms specializing in insurance defense, mediation, settlement conferences, arbitration and trial. Outside of her role as national general adjuster for Norcross, Adkins is the past president and current treasurer of the Puget Sound Adjusters Association. She also serves as the organization’s golf tournament chair and vendor fair symposium chair. “Lizzy has not only earned the consideration of being one of IBA’s annual Elite Women,” a colleague says, “but also the respect and gratitude of those for whom and with whom she serves.”

SHERRY FORD Director of commercial lines Lawley

As head of commercial lines at Lawley, Sherry Ford is charged with ensuring that all workflows and procedures yield the most satisfactory customer experience. She works diligently to stay current with industry trends by maintaining CIC, CISR and FIPC accreditations. Ford has served as president for Federation of New York Insurance Professionals and the Insurance Club of Buffalo, as well as the Independent Insurance Agents Association of Western New York. Outside of the office, she is an active supporter of A Life Worth Living, an online environment dedicated to raising awareness on mental health, addiction and suicide prevention and survivor issues.

KITTY AMBERS CEO NetVU

Kitty Ambers has been in the industry for more than 30 years, starting out in high school at her parents’ independent insurance agency. She served as the executive director of the American Insurance Sales and Marketing Society for several years, facilitating several industry designation programs in the areas of agency management, marketing and sales skill development. Her personal goal is to help agencies increase profit and substantially reduce E&O loss exposure by improving processes and procedures. As head of NetVU, Ambers leads the organization’s efforts to enable Vertafore users to learn how to maximize their systems and improve business processes and interfaces. She has also been a driving force behind the dynamic workplace culture at NetVU, having assembled a team of on-site full-time employees, remote full-time employees and consultants. This enables her to engage with the best person for the job while not being restricted by geography. To enhance collaboration, the team meets face-to-face four times a year and often participates in activities together, including volunteering with charitable organizations.

www.ibamag.com

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8/06/2018 3:29:37 AM

DEBORAH K. MACKOUL President and COO New Empire Group

Deborah Mackoul has more than 27 years of experience in property & casualty insurance and risk management. As president and COO of New Empire Group, Mackoul has been deeply involved in shaping the company’s culture and national expansion. She was a key factor in helping guide New Empire Group’s expansion from a New York-centric MGA to a nationally recognized program administrator licensed in all 50 states. Mackoul is a member of numerous industry associations, including the Insurance Professional Association of Long Island, the Wholesale & Specialty Insurance Association and the Target Markets Association. She was instrumental in New Empire Group being recognized as an IIABA Best Practices Agency in 2013 and 2017, and she has won many individual accolades over the course of her insurance career. Most recently, the Women’s Insurance Network of Long Island named her Insurance Professional of the Year. Outside of insurance, Mackoul dedicates her time to numerous charitable organizations, including the United Way, Long Beach Soup Kitchen, St. Mary’s Saints & Sinners and the Long Beach Lions, who named her the Lion of the Year in 2016 for her charitable contributions to the city of Long Beach.

www.ibamag.com

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8/06/2018 3:29:48 AM

SPECIAL REPORT

ELITE WOMEN 2018 ANITA NEVINS

SONYA O’MALLEY

DONNA DEMAIO

Founder and CEO

Vice president, human resources

Executive vice president and COO, general insurance

Direct Connection Advertising & Marketing

Breckenridge Insurance Group

AIG

Anita Nevins has served the P&C insurance industry in various marketing roles since 1986. In 2003, she established Direct Connection Advertising & Marketing, a boutique agency specializing in advertising, strategic marketing and communications for the industry. Her work has helped clients connect with target audiences, increase brand exposure, drive

Responsible for ensuring the operational effectiveness of general insurance at AIG, Donna DeMaio drives technology strategy and leads project management across the global business, in addition to leading the corporate

Sonya O’Malley built her human resources career from the ground up, starting while she was still in college, when she was hired as an HR assistant for Acadia Insurance. Today, O’Malley leads all aspects of HR for Breckenridge

website traffic and generate leads to grow their business. While her team has grown, Nevins continues to personally direct and consult on client campaigns and initiatives. Nevins is also the driving force behind the Virtual Insurance Marketplace, the P&C insurance industry’s first live virtual trade show, which launched in 2010. Now branded as Spark Online Events, the concept has since been embraced by some of the industry’s leading associations and companies.

procurement, real estate and administration functions. Prior to AIG, DeMaio was president and CEO of United Guaranty Corporation, which experienced record-breaking profitability, financial stability and mortgage sales volume under her leadership. She has also held positions with MetLife Bank and PwC. Outside of the office, DeMaio serves on the board of the Greensboro Partnership, Board of Opportunity Greensboro and Elon University’s Love School of Business.

Insurance Group, including employee relations, talent management, organizational development, compensation and benefits, and more. “I’ve been lucky enough to have had great HR mentors in the past,” she says, “and I’m very happy to be working under the leadership of Tracey Carragher, CEO of Breckenridge, who values input from the senior management team and encourages growth and development for the entire staff.”

VIVIANE KRIEF-WOODCOCK President, workers’ compensation practice RT Specialty

Viviane Krief-Woodcock has built a long and impressive career as a leader in insurance, providing notable expertise and service to the industry. This includes 10 years of experience underwriting property & casualty risks at Chubb, particularly marine and energy-related accounts, which contributed to a strong underwriting background for the company’s large and complex accounts. Krief-Woodcock then joined International Facilities Insurance Services [IFIS], where she was instrumental in building the workers’ compensation unit into a multimillion-dollar business. She moved to RT Specialty after it acquired IFIS in 2013. Today, as president of RT Specialty’s workers’ compensation division, Krief-Woodcock is responsible for the growth of the platform, which has more than $400 million in written premium. A significant portion of her work involves building extensive partnerships with numerous top-rated carriers to provide an array of solutions that cover all sorts of challenges in the workers’ compensation market. Passionate about various philanthropic causes, Krief-Woodcock is a founding member of the Women’s Circle of Los Angeles’ Make-A-Wish Foundation and participates in all kinds of advocacy activities, from organizing a walk for breast cancer to joining the recent march for gun control in Washington.

www.ibamag.com

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POWERFUL THAN EVER.

Now that Ironshore is part of Liberty Mutual we can do more. Our resources have come together to deliver more product innovation, greater capacity and a wider range of solutions with the same nimble approach. Being backed by the sixth largest property and casualty insurer in the world will enable us to outthink, outwork, outdo and exceed our clients’ expectations with the same energy as the day we first started. Now that’s powerful. For more information go to ironshore.com.

The information contained herein is for general informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any product or service.

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8/06/2018 3:29:51 AM

SPECIAL REPORT

ELITE WOMEN 2018 JULIE DILLMAN Senior vice president and global head of operations Chubb Group

As global head of operations for Chubb, Julie Dillman oversees a wide range of functions and areas, including IT and digital/e-business operations, real estate and facilities, workflow management, and contingency planning and business continuity. Dillman joined Chubb in 2016 from Travelers, where she served as executive vice president for operations, e-business and analytics. During the course of her long career at Travelers, Dillman held numerous roles, including leading investment strategies for customer and agent platforms, as well as company-wide digital and analytics strategies.

LIZ VAN DERVORT Producer Gillis, Ellis & Baker

DEBBIE WILLIAMS First vice president and regional manager USG Insurance Services

During her career at USG, Debbie Williams has been instrumental in the growth and development of three branch offices and has taken on a mentorship role with several branch managers throughout the company, all on top of maintaining her own book of business. She consistently strives to be the best partner to her carriers and agents, working tirelessly to place the business that comes across her desk.

After graduating from Louisiana State University with a degree in advertising, Liz Van Dervort began her career at Louisiana Medical Mutual Insurance Company, specializing in healthcare and professional liability insurance. She quickly fell in love with the industry and thrived in it thanks to her problem-solving and analytical thinking skills. Armed with specialized knowledge of healthcare practice operations and professional exposures, Van Dervort joined Gillis, Ellis & Baker in 2012 to work with clients on commercial P&C placements, as well as personal lines and employee benefits. Van Dervort regularly shares her knowledge with clients and prospects, authoring articles on various insurance-related topics, starring in educational videos for a local business publication, and presenting seminars on topics ranging from specific policy language understanding to complex contractual and employment issues. A leader in her community, Van Dervort is an active committee member of the Jefferson Chamber of Commerce, where she was named Board Member of the Year in 2016. She is also a member of the Young Leadership Council, 504ward and several other organizations in the New Orleans area.

Insuring the Future Since 1915

Congratulates Our

Elite Women For 2018

Lori Freedman regan katz Lori wheeler John L. Wortham & Son, L.P. Wortham, L.L.C., General Partner www.worthaminsurance.com

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8/06/2018 3:29:56 AM

BETH GOLDBERG Chief underwriting officer, financial lines Starr Companies

As Starr Companies’ chief underwriting officer of financial lines, Beth Goldberg is responsible for the risk strategies – public, private and nonprofit – of commercial and financial institutions. Her areas of expertise include D&O, employment practices and fiduciary liability, crime and fidelity, bankers’ professional liability, security and privacy, and kidnap and ransom. Prior to joining the leadership team at Starr, Goldberg was senior vice president and head of middle-market and regional financial services at a global insurance company; she has also held a number of management positions within various executive liability divisions. She is a regular contributor to several industry publications and a frequent speaker at industry events. An active member of PLUS, Goldberg currently serves as vice chair of the Eastern chapter and as vice president on its foundation board.

www.ibamag.com

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SPECIAL REPORT

ELITE WOMEN 2018 BRENDA BALLARD AUSTENFELD President, national property practice RT Specialty

As president of RT Specialty’s national property practice, Brenda Austenfeld provides leadership to brokerage teams in sales and strategy initiatives while working closely to manage key market and client partners. She also oversees all of RT Specialty’s property procedures to support and mentor brokers within the national practice. Prior to joining RT, Austenfeld was a partner and executive vice president of the national property practice at Westrope. Her guidance and established relationships with underwriters and company management helped Westrope’s property practice grow exponentially and become well known for its ability to creatively and effectively handle specialized and catastrophic property exposures. Before joining Westrope, Austenfeld served in several leadership roles at Alexander & Alexander and Aon Risk Services. She has been recognized in a number of publications, including the Kansas City Business Journal’s Women Who Mean Business and Midwest CEO’s Most Influential Women. Beyond her duties at RT Specialty, Austenfeld serves on the WSIA board of directors and also is a member of the executive board of trustees for the Kansas 4-H Foundation.

REGAN KATZ Managing director Wortham Insurance

Over the course of her insurance career, Regan Katz has focused on professional service clients, providing risk management advice and designing strategic programs for law firms and other legal service providers. She has been a managing director of Wortham Insurance since 2014, and she co-chairs the company’s national law practice group. An expert on professional liability, Katz regularly speaks on cyber and privacy topics at national events such as the Claims & Litigation Management Alliance Annual Conference, the Professional Risk Symposium and Hinshaw’s Legal Malpractice & Risk Management Conference. Prior to joining Wortham, Katz worked for a public accounting firm and for Marsh & McLennan, and participated in a year-long development program for top producers in New York.

CAROL SHEEHANMATHIS

SANDRA GLUCK

Associate vice president of human resources

Gard (North America)

E&S/Specialty at Nationwide

Carol Sheehan-Mathis brings more than 30 years of experience in business and more than 20 years in the insurance industry to her role as associate vice president of human resources for E&S/Specialty at Nationwide. She joined the firm in 1999, was promoted to director of human resources in 2005 and was selected for her current position in 2012. She leads a team of seven HR professionals who are responsible for recruiting, associate development, retention and talent management for more than 1,300 Nationwide associates in Arizona. In addition to her professional responsi bilities, Sheehan-Mathis is an active community supporter, a board member of the Scottsdale Boys & Girls Club and a past board member of the Arizona HR Executive Forum.

President

Born and raised in Canada, Sandra Gluck moved stateside in 1979 to practice maritime law at Walker & Corsa in New York. Although primarily involved in maritime litigation, she was also involved in ship financing and sale transactions. In 2000, after eight years spent living in Budapest, Gluck joined Trimar Defense Services, now Gard (North America), and was involved in the handling of both FD&D and P&I claims. Five years later, she was appointed president, responsible for handling claims, overseeing the day-to-day operation of the office, organizing seminars and training sessions, and interfacing with regulatory authorities. She has also served as vice chair of the arbitration and ADR committee of the US Maritime Law Association and on the board of directors of the Norwegian American Chamber of Commerce.

www.ibamag.com

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MARYANN McGIVNEY Executive vice president and Georgia healthcare team leader Willis Towers Watson

Maryann McGivney is responsible for a team of 11 individuals dedicated to assisting clients in

ANNE LUND Senior vice president and financial institutions practice area leader Brown & Riding

Based in Brown & Riding’s Seattle office, Anne Lund looks after the firm’s financial institutions practice while also serving as a management liability broker. Working in a variety of specialty markets, Lund and her team are responsible for analyzing and negotiating on various products and coverages, from D&O and professional liability to employment practices, fiduciary and cyber liability. An expert on financial institutions’ risk needs, Lund oversees a large book of banks, credit unions, asset managers, trusts, venture capital firms, investment advisors, non-bank lenders, general partnerships and private equity firms. During the financial crisis, she assisted many distressed banks and credit unions in navigating their management liability placements. Lund also makes a point of educating clients and industry partners, regularly giving lectures and sharing her expertise on a wide range of exposures, from financial services E&O to fidelity bonds. In addition to her roles at Brown & Riding, she also serves as vice president for the Washington Surplus Lines Association.

the healthcare and life sciences sectors with placement of P&C coverages and development of risk financing programs, including alternative risk structures such as captives. McGivney has accumulated 25 years of experience working with clients and insurance products in the healthcare/life sciences field, collaborating with all types of facilities, including integrated delivery systems, university health systems, community hospitals, aging services and outpatient facilities, managed care organizations, physician groups, and biotech companies. “The healthcare industry has never been more disrupted than [it is] now,” a colleague says, “and Maryann’s 25-plus years in healthcare casualty insurance have positioned her well as one of finest healthcare insurance professionals. Her creativity and due diligence in structuring insurance programs for her clients, while acquiring and affiliating in new business ventures, is well known throughout the industry. She is a highly respected professional who takes the time to help others learn.” McGivney started her career at AIG before serving as southeast regional underwriting manager for Zurich’s healthcare division. She is also a member of several professional organizations, including ASHRM and various state chapters, and regularly organizes networking events for women in risk and insurance.

TARA TROUT AVP and director, farm and equine, private client specialist AHT Insurance

Tara Trout is an assistant vice president in AHT’s personal and equine practice, which specializes in personal and estate insurance programs for individuals and families with properties ranging from high-value homes to rental properties. Trout has more than 16 years of specialized expertise in complex accounts with operations that include staff exposures, watercraft, aircraft, vineyards, cattle, equine, tenant crops, horse shows, events and multi-state exposures. Trout remains fluent in industry changes and advancements through her membership in the Society of Certified Insurance Counselors, the Insurance Skills Center and the National Alliance for Insurance Education and Research. Outside of the office, she serves on the board of directors for the Upperville Colt and Horse Show and is the chair of the farm and ranch insurance coverage committee for RiskProNet International.

MISSY McGLONE Account executive The Buckner Company

Missy McGlone stepped into insurance in 2002, starting out in Buckner’s new business and marketing department, joining an elite team that helped client advisors market and place new business. During the financial crisis, McGlone became the lead account manager for a top producer in the company, and despite the negative economic situation, she was able to come up with a strategy to seek out new customers and business. Since 2008, the size of the book has more than doubled, which has led to McGlone’s client advisor becoming the number-one producer in the company for the last three years. McGlone has spent the past several years focusing on the real estate industry, including homeowners’ associations and contractors. She is also an active member of the Community Associations Institute’s education committee. Outside of the office, McGlone devotes her time to volunteering for the Ronald McDonald House.

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SPECIAL REPORT

ELITE WOMEN 2018 JACQUE SCHAENDORF President and CEO Insurance House

An industry leader and current president of the WSIA, Jacque Schaendorf leads Insurance House, a regional insurance intermediary serving the mid-Atlantic and southeastern US. Prior to joining Insurance House in 1997, Schaendorf worked in the financial services division of Alexander & Alexander and as a senior underwriter at Chubb. Having been actively involved in WSIA’s legacy organizations for many years, Schaendorf was elected the 2018–2019 president due to her role as a leader within the wholesale, specialty and surplus lines industry. She also serves as chair of the Georgia Insurers Insolvency Pool board.

KIRSTEN PETRAS Executive director of sales

KERRY BELT Account executive The Buckner Company

Oak Street Funding

A diverse background in sales management, loan advising and compliance have given Kirsten Petras great insight into sales, underwriting and account servicing. As executive director of sales at Oak Street Funding, Petras helps ensure the funding of large, complex loans that support the continued growth and success of insurance businesses nationwide. In addition to leading a sales team that produces annual originations upwards of $250 million, Petras spearheaded and is actively involved in the company’s community outreach programs, which support local school systems, food banks and vulnerable members of the community.

ELIZABETH FRANCY DEMARET Chief of staff and executive vice president for carrier development Sedgwick Claims Management Services

Promoted to the dual role of chief of staff and executive vice president for carrier development at the beginning of 2018, Elizabeth Demaret is now part of the wider global operations leadership team at Sedgwick, working closely with the group president to manage global claims operations across property, casualty, disability, specialty, international and managed care. In addition, Demaret oversees the company’s relationships with carrier partners around the globe that support more than 2,000 existing clients. Demaret started out in the insurance industry 30 years ago and has accumulated experience on the carrier, broker and now claims sides of the business. Since joining Sedgwick in 2012, Demaret has been instrumental to a number of key projects, including the successful acquisition of Cunningham Lindsey in April, implementation of a CRM system and setting up the D&I council. Demaret also served as the first female chair of the World Federation of Insurance Intermediaries, and is an active participant and speaker in many industry trade shows and conferences.

Kerry Belt specializes in local and international risk exposures faced by midand large-sized companies in multiple industries, including retail, manufacturing, development, life sciences, nutritional supplements and technology. A Utah native with more than 25 years of experience in the industry, Belt spent 16 years as a vice president and account executive Marsh’s Utah office. She followed that with stints at a Phoenix-based broker and as director for a Utah program manager’s nutraceutical specialty program. As an account executive at The Buckner Company, Belt manages client books for the CEO, CSO and healthcare division, and oversees the risk management department in the Salt Lake City office. Her primary responsibilities include handling the technical aspects of clients’ insurance programs, overseeing day-to-day activities and coordinating risk management services, including claims advocacy and loss control. “Kerry has been extremely valuable here at Buckner,” a colleague says. “She has sat on the procedures committee to help internal management, designed programs and products, and leads training and discussions at our producer roundtable meetings. All of these are on top of her job, and she does it all freely to make sure our agency is the best.”

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AMY STEINBACK Vice president Alliant/Mesirow Insurance Service

Based in Chicago, Amy Steinback manages a robust book of business consisting of real estate, nonprofit and professional services clients. Proactive, empathetic and technically sound, Steinback has earned a reputation for guiding her clients through difficult, sometimes catastrophic situations, evidenced by her ability to oversee a chaotic period of instability following the devastating 2017 hurricane season. Steinback’s diverse professional background and willingness to take on new challenges has made a profound positive impact in myriad ways. She has helped clients reduce losses, introduced powerful new risk tools, and assisted in streamlining processes and increasing efficiency. A high-performance problem-solver who never shies away from a challenge and is constantly seeking out new, complex opportunities, Steinback credits her success in the industry to the guidance of a strong female mentor in her firm and, in turn, strives daily to provide valuable counsel to her female colleagues.

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SPECIAL REPORT

ELITE WOMEN 2018 LORI WHEELER

ESMERALDA TEMORES

Managing director Wortham Insurance

Vice president and broker Worldwide Facilities

Esmeralda Temores is a broker and underwriter who specializes in brokerage and binding authority business, including property, casualty and financial services lines. Since 2010, she has been based in Worldwide Facilities’ downtown Los Angeles office, where she has built an extensive book of business while mentoring young brokers and contributing to the firm’s branding and professional development efforts. As part of the WSIA education committee, Temores helps develop courses and curriculum on insurance, and she began teaching classes in 2017. Temores is also a member of LiNC, a nonprofit organization that connects high school students to career opportunities in insurance, and she has mentored half a dozen high school students through summer internships at Worldwide Facilities.

Starting out in insurance in 1990, Lori Wheeler has spent more than two decades specializing in D&O liability for private, public and nonprofit organizations, as well as in E&O, employment practices and fiduciary liability, crime coverage, and kidnap and ransom. She has served as a senior-level broker/technician in several brokerages and as a senior underwriter/ manager for AIG and ACE. Wheeler focuses on building relationships with carriers and gaining a thorough understanding of their underwriting and claims processes to effectively help clients. She is responsible for program design and implementation, as well as daily service and claims management under Wortham’s professional indemnity line. Recognized as a technical insurance professional, Wheeler frequently reviews and comments on insurance carriers’ policy forms at the drafting stage. She drafted Wortham’s proprietary crime policy form to provide coverage that was not available in the domestic market. Wheeler also regularly speaks at industry conferences and lectures at a local university’s risk management and insurance program. She is a mentor for the Houston Young Risk Professionals and has trained numerous young underwriters.

REBECCA ROBERTS Associate vice president and managing director Burns & Wilcox

An associate vice president and managing director with Burns & Wilcox in Indianapolis, Rebecca Roberts has more than 20 years of experience in the wholesale and broker insurance industry. She is responsible for office growth, profitability, employee development and oversight of marketing initiatives for the Indianapolis division, in addition to helping grow Burns & Wilcox’s commercial auto liability offerings in the Midwest. Roberts addresses challenges head-on and has been recognized internally and externally for her efforts, receiving multiple awards individually and for her team, including the PIA MGA of the Year Award in 2017 and being named a Top Specialist Broker by IBA in 2018. In 2013, she successfully completed the Kaufman Advanced Management Program. In addition to her role with Burns & Wilcox, Roberts helps educate her industry peers by teaching continuing education courses. She also serves on the board of directors for Brendanwood Financial Brokerage and the Motor Carrier Insurance Education Foundation.

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KAREN GHARIBIANS Assistant vice president and senior underwriter, risk management XL Catlin

A strong technical underwriter with more than 30 years of experience, Karen Gharibians is passionate about finding solutions. In 2013, Gharibians joined XL Catlin as assistant vice president and senior underwriter for global risk management. Previously, she served as senior production underwriter at Crum & Forster Insurance Company, where she led national accounts. Gharibians is always on the lookout for new businesses to write and displays solid ownership of her accounts, prompting brokers and clients alike to look to her as a decision-maker. Her communication skills have enabled her to translate highly technical knowledge in a way thatâ&#x20AC;&#x2122;s accessible to clients. Balancing that with the interests of her company, Gharibians has consistently arrived at well supported business decisions, and her experience and knowledge have allowed her to understand her competition better than most.

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SPECIAL REPORT

ELITE WOMEN 2018 HOLLY JORDAN Commercial lines account manager Gillis, Ellis & Baker

Holly Jordan joined Gillis, Ellis & Baker [GEB] in 2008 as a commercial lines account manager. Along with her 10 years of industry experience, Jordan’s attainment of CISR and CIC designations have provided an opportunity to further develop her knowledge of the ever-changing insurance industry. While managing many complex accounts, Jordan works closely with GEB’s in-house counsel on contract review for her larger clients. Through this partnership, they educate clients on tort liability and ways to ensure policies are relatable to current Louisiana statutes. She also works to help clients recognize their need for management liability products, including D&O liability, fiduciary coverage, PCI compliance coverage and social engineering coverage. Understanding the growing need for cyber insurance, Jordan makes sure her clients understand the impact of their business operations on client and employee privacy. In addition to her capacity as an account manager for two of GEB’s top producers, Jordan serves as an assistant trainer for new hires in GEB’s commercial division, providing day-to-day guidance to her peers on agency- and account-specific issues. However, Jordan says the most enjoyable aspect of her career is working with clients in the nonprofit sector, knowing that she’s helping to protect organizations that provide social and human services to revitalize and further develop the New Orleans metro area.

CHRISTINE LARSON CEO and president Empire Insurance Group

As a young girl, Christine Larson would regularly visit her father’s insurance agency after school. After finishing college, she decided to follow in his footsteps. She and her parents eventually set up an independent agency, Empire Insurance Group, and together they laid the foundation for a solid business with strong ties to the community. Larson acquired the business from her parents a few years later and added two more offices last October, growing her staff from two to 17 members. “Christine will never settle for anything less than extraordinary,” a colleague says. “She always had a dream of building an ‘empire’ in the insurance world, and she has created more jobs for our community.” In 2014, Larson was named Young Agent of the Year by the Minnesota Independent Insurance Agents & Brokers Association, where she has been an at-large board member since 2017. Recently, Larson became part of the Insurance Mastermind Group, where she shares her experience while building relationships with other like-minded individuals in the industry. She has been invited to speak to college students about growing a business and the career prospects in the insurance industry. On top of juggling multiple businesses, Larson finds the time to coach her daughter’s softball team and give back to the community. She serves as president and co-founder of local nonprofit the North Branch Beautification Association, as past president of the North Branch Area Chamber of Commerce, and as a member of the Wyoming Area Business Association, the Chicago Lakes Area Chamber of Commerce and the North Branch Buy Local Committee.

LORI FREEDMAN Managing director Wortham Insurance

Lori Freedman has been working in claims and risk management for more than 30 years. She spent the first 17 years of her career with Allstate, where she started out as multiline adjuster and eventually became senior market claims manager, overseeing more than 125 adjusters. Prior to joining Wortham in 2005, Freedman was part of the risk management teams of both Dell and Macy’s. As the first female managing director at Wortham’s Austin office, Freedman works with middlemarket clients in a wide range of industries, overseeing the marketing of all claimsrelated services and ensuring steady claims management to achieve prompt response and resolution. For the last 13 years, she has been the primary claims consultant to one of Wortham’s largest national retail accounts, shepherding their claims operation through changes in leadership, vendor management and various transitions. An advocate for compassionate care within the workers’ compensation arena, Freedman works to find innovative ways to address the opioid crisis while assisting clients in reducing their claims expenses. She has presented at conferences and written articles on various claim topics, including opioid abuse and the impact of medical marijuana in the workers’ compensation field. She is also part of the risk management and public policy committees for the SAFE Alliance, which provides housing, healing and support for individuals and families affected by domestic violence, sexual assault and exploitation.

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HEATHER SCHENKER Vice president of brokerage underwriting E&S/Specialty at Nationwide

Heather Schenker has more than 24 years of experience in both claims and underwriting within property, casualty, professional and excess & surplus lines, including experience in many complex programs and accounts. Schenker has been with Nationwide for 15 years and was promoted to vice president of brokerage underwriting in 2017. Prior to that, she was the associate vice president of Nationwideâ&#x20AC;&#x2122;s E&S/ Specialty P&C programs group, as well as a specialty claim manager. She is a graduate of Sacramento State University with a bachelor of science in criminal justice and holds CPCU, SCLA and AIC designations. Outside of Nationwide, Schenker sits on the corporate advisory board of the Phoenix Childrenâ&#x20AC;&#x2122;s Hospital.

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SPECIAL REPORT

ELITE WOMEN 2018 VICTORIA DEARING Senior vice president and professional liability broker Breckenridge Insurance Services

With 37 years of industry experience under her belt, Victoria Dearing is an expert on professional liability and other commercial insurance needs. She has authored several textbook chapters on business and E&O risks to help agents and other key stakeholders navigate the complexities of the industry. She is also an adjunct professor and guest lecturer at the University of Texas at Dallas, where she teaches enterprise risk management and a variety of professional liability topics. After starting out as an agent, Dearing spent more than a decade as a program manager, handling everything from rent-a-captive to forming a professional liability team equipped to handle all kinds of risks. Today, as a wholesale broker, Dearing oversees a wide range of products and programs, and handles the internal risk management for all of Breckenridge. Her extensive background and knowledge allow her to develop comprehensive coverage such as Breckenridge’s recent exclusive cyrotherapy offering. Outside of her responsibilities at Breckenridge, Dearing is the president of the Fort Worth chapter of the CPCU and a former member of the PLUS Texas steering committee.

TIINA CALDARA Assistant vice president AXIS Re US

FRANCESCA D'ANGELO Senior vice president and underwriting manager

An assistant vice president at AXIS Re US, Tiina Caldara works as an underwriter on the professional lines team, where she is responsible for all PL lines, including D&O, E&O, lawyers’ PL, cyber, transactional risk and medical malpractice. With more than 10 years of reinsurance industry experience and holding CPCU, ARe and RPLU designations, Caldara previously worked as a business analyst at Watson Wyatt, now Willis Towers Watson. In her spare time, she volunteers with the Celiac Disease Foundation and Habitat for Humanity.

Preferred Concepts/Alliant Insurance Services

Francesca D’Angelo manages a $70 million book of business for Preferred Concepts, a leading insurance program underwriter and Alliant company. As an underwriter and administrator for multiple programs that offer P&C solutions for real estate and hospitality risks, D’Angelo has built and maintains strong relationships with carrier partners. She leverages these relationships to deliver first-rate coverage and long-term stability for her clients and partners – a critical asset in the real estate and hospitality market. Each account brings a different set of risk variables to the table that D’Angelo uses as an opportunity to better understand her client and formulate a solution. She also uses her experience to support and mentor new underwriting talent, which she views as an opportunity to make a long-lasting positive impact.

KATHLEEN SAVIO CEO Zurich North America

Kathleen Savio leads the largest division – with $15 billion in revenue – within Zurich Insurance Group. Prior to leading the North American operation, Savio was Zurich’s head of alternative markets; in 2016, she led the acquisition and integration of Rural Community Insurance Services, the second largest crop insurer in the US. Throughout her career, Savio has held a number of leadership positions within Zurich, including chief administrative officer, vice president of North American corporate and marketing communications and marketing strategic initiatives, and director of communications for product underwriting. She currently sits on the board of trustees for the Z Zurich Foundation. Outside of Zurich, Savio also serves on the boards of the American Insurance Association and the St. John’s School of Risk Management.

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SPECIAL REPORT

ELITE WOMEN 2018 GINA JONES Vice president and director of environmental programs Burns & Wilcox

Gina Jones’ expertise spans more than 30 years of underwriting, marketing and product development in the environmental and pollution sector. Jones was influential in expanding Burns & Wilcox’s environmental practice, including coverages, market access and cultivating production sources. She currently leads the Burns & Wilcox environmental center of excellence, where she serves as a mentor in environmental coverage and her team acts as subject-matter experts for environmental risks company-wide. Jones’ work and expertise led her to be named a Top Specialist Broker by IBA earlier this year. Before joining Burns & Wilcox, Jones served as vice president and environmental product line officer at AIG.

JANICE RATLIFF

Client advisor

AXIS Insurance

Insurance Management Company

In her 10 years at AXIS, Janice Ratliff has been a driver of change in the company’s operations and specialty business. As head of US operations for the professional lines division of AXIS, she has successfully led the team to become significantly more efficient and effective, which has contributed to improved customer service. Ratliff conducted target operating model reviews for multiple business units and helped implement new IT systems for the AXIS underwriting process. She was also responsible for piloting the internship part of a work-study program, which brought in four high school students from Cristo Rey. Following the success of the pilot program, the company has expanded the partnership to 15 students in 2018.

After graduating from high school, Lynn Mogel immediately launched her insurance career with Insurance Management Company, starting out as a customer service representative and diligently working her way up to become a client advisor and point person for both agency standards and general insurance knowledge. Mogel also went on to earn an ARM designation and has maintained exceptional working relationships with clients, carriers and underwriters alike. At Insurance Management Company, Mogel serves as the point person for employee care initiatives, helping raise funds for employees approaching retirement or going through difficult times. She ensures that the agency is able to actively share its resources with the community, leading its donation efforts during Christmas. She is also involved with walks for autism and the American Heart Association, and regularly raises funds for these causes.

LAURA SHERMAN Founding partner Baldwin Krystyn Sherman Partners

As co-founder of Baldwin Krystyn Sherman Partners and Baldwin Risk Partners, Laura Sherman has led and grown the family office practice group, which now serves more than 100 clients and has been recognized as one of the best high-net-worth/private client brokers by various industry publications. To help further the knowledge and skills of industry players in the high-net-worth sector, Sherman has spoken at several conferences and symposiums on insuring private clients, estate planning and private risk management. She is also part of various industry boards, including the advisory board of the Council for Insuring Private Clients, the AIG Private Client Group National Broker Council and the National Alliance advisory board for the CPRM designation.

LYNN MOGEL

Director of professional lines operations

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CHARLOTTE MOSCARDELLI Senior vice president and global director of marketing and communications Ironshore Services

As Ironshore’s senior vice president and global director of marketing and communications, Charlotte Moscardelli has helped build the Ironshore brand for more than a decade, creating award-winning campaigns and spearheading the firm’s global communications initiatives. Responsible for all branding, communications, media and marketing strategies, Moscardelli joined Ironshore in 2009 and oversaw the development of its brand identity, incorporating the company’s ethos and goals. Under her leadership, the company was awarded the Insurance Marketing & Communications Association’s Showcase Award of Excellence for its 2015 marketing campaigns. Moscardelli previously worked as vice president of marketing for AIG’s environmental division, driving all marketing efforts for the company. Prior to joining the insurance industry, she held various roles at Citibank North America in the marketing and strategy group, focusing on direct marketing for the investment, consumer, business and mass affluent segments. She began her marketing career working in account management on various Fortune 500 company accounts at a number of advertising agencies, including Wunderman, Young & Rubicam and Lipman.

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SPECIAL REPORT

ELITE WOMEN 2018 JESSICA DAVIS

LIANNA KINARD

Director of marketing

Vice president of marketing

Acentria Insurance

The Buckner Company

With more than 15 years of marketing experience, Jessica Davis uses the latest trends and technology to assist producers in continually growing their books of business at Acentria Insurance. As the agency’s marketing director, Davis primarily focuses on brand management, sales-driven and client-facing multifaceted marketing campaigns, community involvement, and corporate-led events. Before joining Acentria Insurance, Davis worked for various national nonprofit organizations, including the American Heart Association and Boys & Girls Clubs. Her passion for giving back to the community led her to launch the #AcentriaCares program, which empowers and engages team members to participate and make a difference in the communities they serve. In just over two years, #AcentriaCares has raised more than $500,000 to support the missions of several local, regional and national nonprofits.

Lianna Kinard has worked in marketing within insurance for the last decade, previously serving as vice president of marketing for a workers’ compensation carrier, where she oversaw the sales and marketing efforts for all appointed agencies. Since joining Buckner in 2016, Kinard has been leading the company’s marketing efforts, generating innovative strategies while overseeing the brand communications for five offices. Outside of her work at Buckner, Kinard has been a mentor to many business students for the last eight years and is the incoming chair of the board for the David Eccles Alumni Network at her alma mater, the University of Utah.

MARCIA McGRATH Business development manager RIC Insurance General Agency

Since 2006, Marcia McGrath has been focused on achieving agency growth through intensive training and effective marketing and communication. As one of RIC’s top-performing business development managers for the past three years, she managed to surpass her goal by more than 75% in 2017. “Marcia is one of the most hard-working people I’ve ever known, and her significant level of success shows her dedication to her customers and RIC’s retail partners,” a colleague says. “Her agents view her as a tremendous resource for all lines of insurance and rely on her to help them place more challenging risks.” Before shifting to marketing, McGrath held various underwriting and management roles, with a focus on commercial casualty and large accounts. Prior to joining RIC, she was one of the best-performing territory managers at a top regional carrier.

KRISTEN HANDEL Vice president Alliant Insurance Services

The creator and steward of Alliant’s pest management insurance program, Kristen Handel started one of the pest control industry’s largest and most robust insurance and risk management programs from the ground up. She grew the program to eclipse $1 million in premium in its first year of operation on the momentum of its broad coverage and ability to offer clients specialized assistance on workers’ compensation and auto claims, two of the industry’s most difficult exposures in terms of cost and frequency. Experience and a commitment to professional development have made Handel an expert in managing upper-middle-market risks. For Handel, doing the best for her clients means acting as a trusted advisor to protect their assets. A dedicated team player and active mentor, she is known for her willingness to step into a difficult situation and manage it with professionalism and technical skill.

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4060_

XL Catlin congratulates our very own

Karen Gharibians AVP, Senior Underwriter, Risk Management for receiving recognition as a 2018 Elite Woman in Insurance. We look forward to the ways the world will move forward as womenâ&#x20AC;&#x2122;s influence in the insurance industry continues to grow.

XL Catlin, the XL Catlin logo and Make Your World Go are trademarks of XL Catlin Group Ltd companies. XL Catlin is the global brand used by XL Group Ltdâ&#x20AC;&#x2122;s (re)insurance subsidiaries.

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SPECIAL REPORT

ELITE WOMEN 2018 CATHY GRIFFIN

HEIDI VESCIO

Vice president and environmental practice group co-leader

President, owner and founder United Insurance Agencies and Affordable Auto Insurance

Brown & Riding

Cathy Griffin started working on the environmental side of the insurance industry in the 1980s mainly due to personal interest, but it also proved to be good timing on her part. “I am part of the generation that started Earth Day,” she says, “and it was our generation that started becoming more conscientious about the environment – what was being released into the air and in the ground. All of that was taking off at that time.” Since then, Griffin has developed many programs for environmental exposures, including one for doctors reviewing indoor air quality of industrial plants. She also led the development of mold insurance in the 2000s, when few companies were willing to write the exposure. As co-leader of Brown & Riding’s environmental practice group, Griffin demonstrates extensive expertise in evaluating environmental coverages and exposures.

Heidi Vescio has been laying the foundation for a career in insurance since she was a child, spending most of her weekends at her father’s agency; she obtained her agent’s license when she turned 18. In 1991, Vescio saw the opportunity to branch out and fill a niche, founding Affordable Auto Insurance, which became the top seller of auto risk policies in the Omaha metro for many years. After her father retired, Vescio bought his company and began leading operations for both United Insurance Agencies and Affordable Auto Insurance. Today, with more than 25 years of experience under her belt, Vescio is focused on empowering her team of agents to continue the growth of both commercial and personal insurance lines while offering solutions to auto clients struggling to find adequate coverage elsewhere.

PRIYA CHERIAN HUSKINS Senior vice president, D&O Woodruff Sawyer

A nationally recognized expert on D&O liability, Priya Huskins works with fast-growing private and public companies in the technology and life sciences space, focusing on unicorn companies, companies undergoing IPOs and large international companies. A former corporate securities attorney and chair of Woodruff Sawyer’s management liability claims committee, she routinely counsels clients on corporate governance matters, including ways to reduce exposure to shareholder lawsuits and regulatory investigations, and advocates for clients in negotiating complex claims. Huskins is the author and editor of the D&O Notebook blog, a resource for many boards of directors and law firms across the country. She is also a popular guest lecturer at high-profile events such as Stanford’s Directors’ College, the EY Strategic Growth Forum and Directors Consortium. In addition to her duties at Woodruff Sawyer, Huskins sits on the boards and committees of several organizations, including the Realty Income Corporation, the Monthly Dividend Company and the Stanford Rock Center for Corporate Governance and the Silicon Valley Directors’ Exchange. Active in the effort to increase diversity in the boardroom, she is a member of the Nasdaq/Spencer Stuart/Boardroom Resources Next Gen Board Leaders Advisory Council and has spoken about the topic on the web series Inside America’s Boardrooms.

AMY ZUPON CEO Vertafore

As head of Vertafore, Amy Zupon makes enormous contributions to the insurance industry on a daily basis, directly influencing the capabilities and success of thousands of insurance businesses across the country. More than 500,000 insurance professionals use Vertafore’s software, including more than half of the top 100 brokers in the US. Zupon took the helm at Vertafore in 2016 and was tasked with fundamentally changing the direction of the company to place the interest and success of customers above all other priorities. In the span of about 18 months, she has set Vertafore on a path to tackle the company’s – and the industry’s – most pressing challenges. In line with this, Vertafore launched a new headquarters in Denver, hired more than 600 employees and realigned to a ‘centers of excellence’ strategy to provide world-class service and support to its customers. Outside of Vertafore, Zupon is a dedicated member of the Denver community who volunteers with several organizations. She shares her passion for service by encouraging Vertafore employees to use paid volunteer time each year while making matching donations to fundraising causes and promoting a culture of giving.

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WHAT IT MEANS

TO BE ELITE In an industry where performance is everything, what makes someone truly elite? At Alliant, it begins and ends with how you think. It is those who meld innovation, industry knowledge, and creative thinking who set the standard for excellence in insurance and risk management. Alliant proudly congratulates our distinguished class of 2018 Elite Women and all of the enterprising women in our industry who use their strength, innovation, and intellect to move us forward.

Francesca Dâ&#x20AC;&#x2122;Angelo

Senior Vice President and Underwriting Manager Preferred Concepts

alliant.com

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Kristen Handel

Lori Ann Long

Amy Steinback

Alliant Insurance Services

Community Association Underwriters

Alliant Insurance Services

Vice President

President

Vice President

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SPECIAL REPORT

ELITE WOMEN 2018 SHARON EMEK Founder, chairman and CEO Work At Home Vintage Experts

With decades of industry experience, Sharon Emek

KRISTINE FURRER Senior vice president and P&C risk management practice leader Woodruff Sawyer

An expert on sophisticated and emerging risk and coverage issues, Kristine Furrer specializes in helping clients reduce their cost of risk amid the increasingly complex global environment and is highly regarded for her keen understanding of the resources and manpower required to serve complex P&C clients. Furrer founded Woodruff Sawyer’s risk management practice in 2000 and has accumulated 30 years of experience working in multiple insurance brokerage and risk management positions as both a buyer and a provider of brokerage services. Furrer is actively involved in client management across the firm and leads a team of dedicated P&C consultants in San Francisco, working on growing new business opportunities in this key market segment. In addition to chairing the governance committee at Woodruff Sawyer, Furrer also sits on the board of Assurex Global, the fourth largest brokerage network in the world. In this capacity, she manages Woodruff Sawyer’s corporate relationship with Assurex, focusing on international insurance issues and brokerage relations.

understands firsthand the challenges employers and older insurance professionals are facing today. Before founding Work At Home Vintage Experts [WAHVE], Emek spent 13 years as a partner at CBS Coverage Group, where she managed the New York City office and provided business insurance and risk management for a large client base. Prior to joining CBS, she was president, founder and CEO of The Emek Group, an insurance agency she formed in 1988. In 2007, Emek became the first woman to receive the Sidney O. Smith Government Affairs Award from the IIABA. In 2014, she was the first woman to receive the 1882 Fellow Award, the highest honor presented by the Independent Insurance Agents & Brokers of New York. A regular member of IBA’s Elite Women list since 2014, she also received the 2016 SmartCEO Brava Award, which recognizes top female CEOs, as well as the Vistage Leadership Legacy Award. Emek has testified before the New York State Assembly Insurance Committee, the US House of Representatives’ Financial Services Committee and the National Association of Insurance Commissioners, and is frequently sought out by the media as an expert on insurance, management and business issues.

SALLY DOLCE

ELIZABETH POWERS

Chief operating officer

Director of agency development

Mackoul Risk Solutions

Valley Insurance Agency Alliance

With more than 30 years of property & casualty insurance experience, Sally Dolce joined Mackoul Risk Solutions in 1997 as a commercial underwriter. A decade later, she took on her current position of COO, providing leadership, management and vision while Mackoul Risk Solutions quadrupled in size. Dolce holds a CPCU designation and licenses in property & casualty, life and health insurance in numerous states. She is also a member of a number of industry and charitable organizations, serving on the board of the Insurance Professionals Association of Long Island and assisting with the Long Island insurance community’s charitable fundraising efforts for the United Way.

Her entrepreneurial background led Elizabeth Powers to her ideal role at VIAA and within the industry. As director of agency development, Powers helps the owners of member agencies succeed by building a strong portfolio of services and resources to assist them in growing their businesses. Since Powers took on this role, VIAA has helped nearly 30 women form and grow their own independent agencies, and the network itself has grown to more than $165 million in premium. In addition, Powers manages VIAA’s carrier relationships and oversees the agency foundation. Outside of VIAA, she sits on the board of St. Louis Independent Agents, which helps to educate the St. Louis community on the value of the independent channel, and also offers scholarships to the children and grandchildren of its members.

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8/06/2018 3:32:03 AM

LORI ANN LONG President Community Association Underwriters/Alliant Insurance Services

Lori Ann Long’s 35-year career has been marked by market-based innovation and empathetic leadership. Driven by an entrepreneurial spirit and guided by decency and kindness, Long has achieved remarkable milestones in her years spent managing and directing Community Association Underwriters [CAU], an Alliant company and MGA providing insurance for community associations throughout the US. When Long joined CAU 25 years ago, it was a $3 million company. Today, under her leadership, CAU is now a $190 million enterprise that serves more than 12,000 community associations and is on pace to grow 6% by the end of 2018. Initially attracted to CAU because of its entrepreneurial approach, Long has innovated the company’s processes, setting up a successful claims department with internal staff and external independent adjusters and attorneys. She then proceeded to revamp policy writing, marketing, and education and training to better serve CAU’s clients. Working with internal and external staff, agents, insureds, primary carriers, reinsurers, and trade organizations came naturally to Long and culminated with her appointment to president, where she has led the firm through a period of exponential growth. Under CAU’s new ownership by Alliant, Long has developed two new programs – coastal and stand-alone GL coverages – tailored to the community association niche. She has also authored several endorsements and coverage grants to maintain the leadership of CAU’s original product in the marketplace.

WHY MAKE RISK RISKIER? WSIA members are experts. When you need a custom solution to a nonstandard risk, look for help and choose a WSIA member to craft cost-effective, innovative solutions for your specialty and nonstandard risks. A recent Conning, Inc. analysis concluded that wholesale distribution does not increase the cost of the transaction to the insured, and you deliver an expertly tailored solution. Risk averted.

Find a WSIA member at wsia.org www.ibamag.com

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SPECIAL REPORT

ELITE WOMEN 2018 JENNY CRANE

GLORIA LAM

Senior vice president/ profit center leader

Senior vice president, workers’ compensation practice area leader

Hull & Company

Jenny Crane joined Hull & Company in 2004 as a garage underwriter and was promoted to underwriting manager in 2006. Today, as senior vice president and profit center leader, Crane oversees a staff of 28, generating $35 million in premium across offices in Portland, Oregon, and Tacoma, Washington. For the past 14 years, Crane has helped grow the business profit margin, achieving a double-digit average in internal growth in the last five years. Currently, her focus is on growing the brokerage program of the Portland office. On top of all her management duties, Crane also personally handles a P&C book of business and holds licenses in 12 states. She has won a variety of awards for her accomplishments, including the Bronze Tangle B Award in 2015 and 2016. Outside of Hull & Company, she serves as vice president of the Surplus Lines Association of Oregon and has been member of several company advisory boards.

Brown & Riding

Gloria Lam has accumulated decades’ worth of experience in workers’ compensation, including 15 years in the underwriting, marketing and management functions on the carrier side. With a passion for the workers’ comp field, Lam looks after both routine placements and large and complex programs for Brown & Riding, working tirelessly behind the scenes on every step, from market selection, presentations, negotiations and closings to post-bind interactions with producers and policyholders. By gaining more market access and more leverage than competitors, Lam has sustained a higher quote-to-bind ratio than other wholesale brokers working on the same line.

KACY CAMPION RENNA CEO Connelly-Campion-Wright Insurance Agency

A 30-year veteran of New Jersey’s insurance industry, Kacy Campion Renna succeeded her father in the family business two decades ago, and now serves as CEO of Connelly-Campion-Wright Insurance. Highly active in the insurance industry, Renna serves on agents’ councils for Plymouth Rock Assurance and Selective Insurance Companies, and she served on the board of directors of the New Jersey Young Insurance Professionals before assuming a board position with Professional Insurance Agents of New Jersey [PIANJ], where she is currently president. Renna is passionate about educating consumers on the benefits of working with an independent insurance agent. In 2018, PIANJ will launch its Go With A Pro grassroots marketing campaign, which is designed to provide information to insurance consumers about the benefits of working with local independent agents by providing content and marketing tools to allow member agencies to share this message. Committed to fostering the careers of women in the industry, Renna has led the PIANJ Women’s Business Forum, a project that promotes career and agency development for New Jersey’s female agency executives. In addition, Renna leads by example: Her agency is led by women, and women comprise nearly 87% of its business. In addition, the PIANJ staff is composed of more than 80% women.

CRICKET THOMAS Senior vice president and senior underwriter Blue River Underwriters

An underwriting expert in the commercial contracting space, Cricket Thomas leads Blue River’s Contractors Elite program, helping thousands of contractors find quality coverage. With nearly 30 years of insurance experience, Thomas maintains a significant book of business and is highly regarded for her insights on contractors; willingness to collaborate with team members, even when they fall outside of her program appetite; and for developing a high-performing staff. Recently, Breckenridge Insurance Group recognized her with an annual sales achievement award for her accomplishments. Thomas started in the industry as a policy tech with a focus on large hotel and casino business, where she honed her risk understanding and attention to detail before becoming an underwriting assistant for a construction team. She then joined an MGA to further her specialty knowledge for the programs she champions today. Over the years, she has attended many construction-related insurance seminars, completed the CGU Producer Development Program, acquired her Nevada producer license for property & casualty and received her CRIS designation.

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8/06/2018 3:32:15 AM

MEGAN WATT

KELLEY AYUSO

Chief claims officer

Assistant property & casualty department manager

Everest Insurance

Superior Underwriters

Before stepping into insurance, Megan Watt spent a decade practicing law, with a focus on insurance coverage litigation. She began her insurance career with AIG as a complex director in the excess coverage division and eventually moved into management roles within the unit. She was later promoted to senior vice president of excess specialty, and then appointed to global head of complex casualty, covering construction defect, mass tort/asbestos and environmental specialty claims. Watt joined Everest as chief claims officer in early 2017, where she now leads a claims and operations team across multiple product lines, working to deliver world-class claims services for the fast-growing specialty carrier. “Throughout her accomplished career, Megan has been known as a leader who inspires collaboration among her team and those with whom she engages,” says Everest CEO Jonathan Zaffino.

In 2001, 21-year-old Kelley Ayuso joined Superior Underwriters, immediately diving into the business as a policy processing assistant. Over the next 15 years, Ayuso continued her professional development, culminating in a promotion to assistant P&C manager last year. Ayuso also took the reins of Superior Underwriters’ marketing program in the Greater Seattle area, directly contributing to the firm’s growth over the past few years. In addition, she volunteered for the role of processing team lead, improving the department through her leadership. Recently, Ayuso was selected to join Nautilus Insurance Company’s NexGen Committee for future industry leaders. Recognized by her peers for her efforts to create a better image for her company within the community, Ayuso serves as the company’s lead coordinator for the Northwest Harvest Food Drive.

MARGARET ANN PYBURN Executive vice president Cobbs Allen

As executive vice president at Cobbs Allen, Margaret Ann Pyburn drives her division’s double-digit growth and client retention while honing her expertise in insuring her clients’ most prized possessions. The newly elected secretary/treasurer for the Alabama Independent Insurance Association, Pyburn is also past president of the Birmingham Independent Insurance Agents Association, has served on the Safeco Agents Advisory Council and the Travelers National Producer Council, and has been recognized twice as Travelers’ Agent of the Year. Outside of the insurance industry, Pyburn focuses on making a positive impact in the Birmingham community. She is an active sustainer member of the Junior League of Birmingham and serves on the board of United Ability. Her passion for academics led her to join the Homewood City Schools Foundation Board and to serve on the Norton board at her alma mater, Birmingham Southern University. Pyburn leverages her community interest and professional activities to advocate for women’s involvement at the local, state and federal levels. “We have a story to tell, we have work to be done, and we have women to recruit,” she says.

ANGELA DYBDAHL OROIAN President Society of Environmental Insurance Professionals

For more than a decade, Angela Dybdahl Oroian has been building her expertise in environmental insurance and risk management; she recently received a master of science degree in sustainable management at the University of Wisconsin Oshkosh. As an industry expert, Oroian has spoken on the topics of sustainability and environmental insurance at events such as the Green Innovation Conference in Santiago, Chile, in 2015 and the Sierra Club Colloquium on Environmental Insurance and Risk Management in 2016. An active member of the Society of Environmental Insurance Professionals since its inception in 1999, Oroian now serves as its president and executive managing director, responsible for the organization’s mission to expand the use of environmental insurance as a risk management tool. She is also in charge of developing and implementing the new Certified Environmental Insurance Professional designation, the only certification dedicated to providing the knowledge and skills needed for environmental insurance.

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SPECIAL REPORT

ELITE WOMEN 2018 JORDAN CONNELLY Senior vice president Worldwide Facilities

After graduating from the University of Georgia with a degree in risk management and insurance, Jordan Connelly began her career at Swett & Crawford in 2004. Later that year, she began focusing on healthcare professional liability, moving from broker to vice president while maintaining steady growth of her healthcare book. In 2014, Connelly joined Worldwide Facilities as senior vice president and profit center manager for the Atlanta office, which has since experienced significant growth and continues to thrive. Together with her team, Connelly specializes in healthcare professional liability with a focus on medical facilities, physician groups, long-term care, ambulance risks, ERPs and loss portfolio transfers. Thanks to her expertise, numerous publications have tapped Connelly for her insight into long-term care and the state of the healthcare market.

SHAIDA MONSHI Executive vice president Brown & Riding

Shaida Monshi has built her insurance expertise in catastrophic property risks, catering to both public entities and real estate owners and developers. She started her career on the retail side of the industry, managing risk placement and client servicing. Monshi moved to the wholesale side of the business in 1996 when she joined Brown & Riding. Her first major project was launching the company’s property practice, which involved developing quality standards for the group. Since becoming part of Brown & Riding, Monshi has been instrumental in building the company’s professional reputation in the marketplace by underscoring its commitment to impeccable underwriting principles and comprehensive coverage analysis. She has a great appreciation for the challenge of maintaining consistency in all areas of the ever-changing insurance landscape. “I’ve always enjoyed the dynamic and evolving nature of the industry,” she says. “Things are always changing, so there are many opportunities where one can continue to learn, grow and improve in their trade.”

CINDY PAULIN Associate Eagan Insurance Agency

KAREN BELDY TORBORG Global and North America practice leader, private equity and M&A Marsh

Karen Beldy Torborg is the global and North America practice leader of Marsh’s private equity and M&A services practice. Torborg began her career at Chubb, where she was an underwriter and a team leader in the commercial lines department. She later joined Marsh’s risk management casualty practice where she was responsible for providing risk and insurance advice to large corporate clients. Outside of her responsibilities at Marsh, Torborg serves on the advisory board of the Private Equity CFO Association of New York and sits on the board of Youth INC.

New Orleans native Cindy Paulin is a legend in the local insurance industry. She is a member of the Louisiana Insurance Agents Advisory Committee, past president of the Society of CPCU and active in the Insurance Professionals of Greater New Orleans. Outside of insurance, Paulin is president of Angel Wings Foundation, serves on the board of directors for Raintree Children and Family Services, and is an influential member of St. Elizabeth’s Guild, which supports handicapped and foster children. Paulin has also worked with the Magnolia Foundation to create new, safe and compliant housing for developmentally challenged adults and is responsible for maintenance of the many properties the foundation operates. Paulin has been named one of New Orleans CityBusiness’ Women of the Year, was honored by St. Elizabeth’s Guild as one of New Orleans’ Best, was a finalist at the 2017 Insurance Business America Awards for the Woman of Distinction Award and is a past queen of the Mardi Gras organization Le Corps de Napoleon.

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JENNIFER KLOBNAK Senior vice president, operations RLI Insurance Company

At RLI Insurance Company, Jennifer Klobnak leads risk services, operations and IT, supporting RLI divisions with actuarial pricing and reserving, reinsurance procurement, exposure management, and home office underwriting. Klobnak joined RLI in 2000 and has held positions in treasury, accounting, enterprise risk management and reinsurance management. She was promoted to her current position as senior vice president of operations in 2016. Before joining RLI, Klobnak served in auditing roles at PwC and Foster & Gallagher. She holds CPA, CPCU and ARe designations and is an active member of the advisory board for the Salvation Army of Central Illinois.

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SPECIAL REPORT

ELITE WOMEN 2018 MARY LAWLESS Chief operating officer Acentria Insurance

As Acentria Insurance’s chief operating officer, Mary Lawless brings more than three decades of industry expertise to the firm. From an early age, she has lived by a mantra to “always work harder than everyone else,” which still rings true for her today as she evaluates her team members to ensure they are in the correct positions and have the tools and resources to thrive. Her ability to empower team members has earned her a sterling reputation among her peers and those she leads. Since she joined Acentria from Insurance Office of America, Lawless’ leadership has contributed to the agency’s exponential growth from 15 locations to more than 30 and increasing employment to over 300 team members across the southeastern US.

ERICA LATHROP Manager, business development

LISA LINDSAY

Markel Assurance

Executive director

Erica Lathrop entered the insurance industry in 2010, joining the Dallas-Fort Worth office of Markel, where she gained underwriting experience in several product lines and took on a regional marketing position. In early 2017, Lathrop became part of the business development team and is now responsible for developing strong relationships with Markel’s strategic wholesale partners. Outside of Markel, Lathrop spends time volunteering for nonprofit organizations such as the Slipper Club of Dallas, Echelon and the American Cancer Society.

Private Risk Management Association

Lisa Lindsay was instrumental in the establishment of Private Risk Management Association [PRMA], and as PRMA’s executive director, she helps guide the organization in educating brokers about the constant changes in industry landscape to equip them to better serve high-net-worth clients. Lindsay also played a key role in the development of the Chartered Private Risk and Insurance Advisor certification, the only online certification program specifically developed for professionals working in the high-net-worth segment. A 30-year industry veteran, Lindsay is the former president of Marsh Private Client Services. She has been inducted into the YWCA Academy of Women Leaders and recognized as an outstanding achiever by the New York chapter of the National Association of Insurance Women.

MICHELE EPSTEIN Vice president, professional and management liability RIC Insurance General Agency

An expert in professional and management liability coverages, Michele Epstein spent 17 years as a wholesale broker and was the founder and president of Attorneys Insurance Services and the retail brokerage Attorneys & Professional Insurance Services. Armed with strong leadership skills and well versed in retail partners’ expectations of their wholesale brokers, Epstein joined the leadership team at RIC Insurance in April 2017, where she helps agency partners receive the innovative solutions and responsive support they need to help them meet the liability coverage requirements of their clients. In addition to her retail and wholesale broker experience, Epstein holds MLIS, AAI, AIS, CPIW and DAE designations in her field of expertise.

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8/06/2018 3:32:41 AM

MICHELLE BOYER PINEL Chief sales officer Hub International

A third-generation insurance professional, Michelle Boyer Pinel has more than 20 years of experience in the insurance industry. During her career, she’s held positions in wholesale underwriting, account service, and sales and marketing, acquiring a well rounded view of the insurance landscape. Recently promoted to chief sales officer of Hub International’s entertainment division, Pinel creates, oversees and executes strategic sales and marketing plans that help drive organic growth and create business development opportunities. She is actively involved in the entertainment industry and is a member of the CalCPA Entertainment Industry Conference planning committee. In addition, she is the co-facilitator of Hub’s Los Angeles employee engagement committee, which provides support, advocacy, fun and engagement across the company’s seven LA offices. Pinel also developed and launched an internal training program, Hub Speaks, which supports both employee development and the company’s mission to empower employees to grow and make a difference. In 2013, she lent her expertise as a contributing author to What’s the Worst That Could Happen, a collection of claims stories that highlight real-world insurance issues. Pinel is an active volunteer with various charitable organizations, including Create Now and Dress for Success.

LAURA PETTIT President RSS Insurance

Laura Pettit heads one of the premier insurance agencies in the Southeast and serves in industry and community leadership positions. She puts a priority on recruiting individuals from outside the industry to the business and training them from scratch to become a successful contributing members at RSS Insurance. Through her determination and hard work, she is able to give back to the industry by drawing in new talent.

SUSAN COMBS

YIANA STAVRAKIS

President

Chief sales officer

Combs & Company

Specialty Program Group

As president of Combs & Company, Susan Combs has established the firm as a go-to resource for “weird and unusual” insurance coverage for businesses, particularly those in the entertainment and food industries, as well as international companies looking to set up US operations. Also an expert in health insurance, Combs holds the Patient Protection and Affordable Care Act designation and is a highly sought-after speaker on the Affordable Care Act, regularly advising law firms, reinsurance companies and organizations across the country. In 2014, Combs became the youngest national president in the 80-year history of Women in Insurance & Financial Services.

As head of sales at Specialty Program Group, Yiana Stavrakis provides strategic sales and marketing guidance to the company’s acquired business partners. Stavrakis has accumulated more than 15 years of experience, during which time she’s mastered the underwriting process. A co-founder and past president of NAPSLO’s Next Generation, Stavrakis received the Past President’s Award for outstanding committee work in 2010. She is also an IBANY board member and received its First Emerging Leader Award in 2015. In addition, she was named as a finalist for the Woman of Distinction Award at the 2017 Insurance Business America Awards.

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FEATURES

TECHNOLOGY REPORT

IBA TECHNOLOGY REPORT: SUMMER 2018 Insurance Business America surveyed producers to find out what technology is essential to their daily operations TECHNOLOGY IS continuing to shake up the workplace at a rapid rate. Although keeping up with the changes might seem like a struggle, for ambitious brokers and agents, embracing technology is the only sensible option. Those who fail to adapt to the digital era face the real risk of being left behind. From digital marketing to e-sign solutions, technology is forcing insurance producers to rethink their approach in order to compete. ‘Disruption’ is a buzzword that gets thrown around a lot, but from an insurance perspective, the way technology is changing

“The number-one reason that producers should embrace cuttingedge technology today is that their competition has already done so over the past few years” Laird Rixford, ITC the industry can only be described as disruptive. Clients expect more from their insurance professionals than ever before in

terms of coverage, customer service and usability. Digital innovation is helping the insurance industry to both recognize and

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meet changing customer needs. Every year, more producers are realizing that embracing change – not shying away from it – could be the key to taking their business to the next level. “The number-one reason that producers should embrace cutting-edge technology today is that their competition has already done so over the past few years,” says Laird Rixford, CEO at Insurance Technologies Corporation [ITC]. “Some of the technology they have adopted includes automated marketing systems to sell clients before, during and after the sale; integration of comparative rating throughout their online and callbased sales organizations; and CRMs and agency management systems to manage the client’s life cycle within the agency, which maximizes long-term retention and offsets higher acquisition costs.” In order to find out how producers feel about the tech offerings available to them in 2018, IBA surveyed hundreds of insurance professionals from across the country about six of the most commonly used insurance technologies, including agency management systems, customer relationship management systems, comparative rate/quote tools, digital and social media marketing, website providers, and e-sign solutions. The survey’s findings were then used to rank the top players in each space, as voted by producers. IBA also spoke to leading technology providers to get their views on how technology is changing the game for producers and what the next big innovation might be.

AGENCY MANAGEMENT SYSTEMS TOP TECHNOLOGY WINNERS Agency Matrix

HawkSoft

Newton by Agency Systems

InsurancePro (ITC)

Alis (I-Engineering)

AMS360 (Vertafore)

Epic (Applied Systems)

QQCatalyst (Vertafore)

EZLynx Average score: 7.30

Agency management systems play a pivotal role in the daily activities of many producers. This popularity was reflected in the impressive scores submitted by respondents – nine agency management systems received high enough scores to earn a spot on the Top Technology leaderboard. The results of this year’s survey suggest that the majority of producers who use an AMS are more than satisfied. A number of respondents gave their systems a score of 10 out of 10, and many producers had no suggestions for improvements. “It is state-of-the-art and expands as needed,” wrote one happy producer. Still, a few producers said they would like to see small upgrades such as “the use of touch screens for drag-and-drop attachments” and “more mobile functions” from their AMS provider. Despite the impressive average scores, not all producers were so positive. One producer

“Too much focus on marketing, with cumbersome processes that add nothing to the experience” who gave his system a lowly 3 out of 10 said he wishes his AMS could “reduce the number of steps it takes to complete an attachment or activity.” Another low scorer also pined for a streamlined experience that focuses “more on account servicing and/or accounting features and removing unnecessary steps for simple processes … too much focus on marketing, with cumbersome processes that add nothing to the experience.”

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FEATURES

TECHNOLOGY REPORT

BRETT BURCHETT OF EZLYNX ON AGENCY MANAGEMENT SYSTEMS In the modern insurance industry, why is it so important for producers to embrace cutting-edge technology? Like in any profession, the better your tools, the better you will be able to perform and earn. The independent insurance market has never been more competitive, and technological innovation is driving the marketplace forward. Producers should embrace the technologies that will help them deliver on their business strategies. Do more, do it better than your competitors, and grow your business faster. What should producers look for in an agency management system? An agency management system should address the complete customer life cycle. In addition to making each day’s work more productive, an agency management system should instill and install best practices for your agency workflows. Before making an investment decision, take the time to research the vision of the company behind the software. Does the direction that company is innovating line up with your agency’s goals for growth? Agency management systems

have come a long way in recent years. Is there still room for these systems to improve? Absolutely! The insurance industry is constantly evolving, and so is technology. Today’s innovations are being driven by questions like: How can we enhance the customer experience? How can we grow and scale our operation faster? How can we achieve greater profitability? In the realm of artificial intelligence, for example, machine learning and natural language processing are making it possible to automate and improve an agency’s daily activities. Many of today’s advancements require incredible amounts of data – and a platform capable of leveraging it effectively. How important a role do agency management systems play for producers on a daily basis? Successful producers focus on the business at hand: building relationships and adding value to their clients and prospects. Productivity is everything, and they demand a workday free from the distractions of inefficiency. An agency management system should also provide the tools to expand marketing reach, enhance

prospecting efforts and drive sales. We refer to these systems as ‘agency management,’ but in truth, they contribute just as much value to client and prospect management. That’s why it’s key to seek out a solution capable of managing the entire customer life cycle from a single platform. What do you think the next big innovation in agency management systems will be? Agency automation is certainly new and exciting right now. In fact, EZLynx announced its initial agency automation offering earlier this year. Agency automation helps agencies stop spending time on tasks that software can perform faster and more dependably, and stay focused on finding and closing new client opportunities. Intelligent software can improve so many areas within the agency, both in terms of strengthened workflows and the reinvestment of time. Agency automation will soon be the norm, and EZLynx is proud to be leading the way.

Brett Burchett Product manager EZLYNX

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MORE POWERFUL THAN EVER

ONE PLATFORM

Automation Center NEW! » Agency Websites » Consumer Quoting » Sales Center » Rating Engine » Management System Accounting » Client Center » Communication Center » Retention Center » Reporting & Analytics

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FEATURES

TECHNOLOGY REPORT

COMPARATIVE RATE/ QUOTE TOOLS TOP TECHNOLOGY WINNERS Applied Rater (Applied Systems)

TurboRater (ITC) PL Rate (Vertafore)

EZLynx IBQ Average score: 5.99

This year’s findings represent something of a shift from last year’s Technology Report, when more than 74% of producers said they either like or love their comparative rate/quote tool. This year’s average score of 5.99 out of 10

suggests that there’s some room for improvement among providers of comparative rate and quote tools. Last year, six providers achieved Top Technology status, but this year, only five companies received high enough

CUSTOMER RELATIONSHIP MANAGEMENT SYSTEMS TOP TECHNOLOGY WINNERS Act! Pro

AgencyBuzz (ITC)

eAgent

SalesForce

Average score: 7.25

The CRM category saw impressive results this year: Many producers gave their providers full marks of 10 out of 10, and four service providers achieved Top Technology honors. Many

producers had no suggestions for improvements. One producer said his CRM “works well,” while another admitted: “I just need to learn it better; I just utilize basic functions.”

scores to earn the accolade. Producers had plenty of suggestions for improvement in this category. “[The tools should] integrate with other platforms seamlessly and [have] more quoting capabilities: lines of business, commercial for smaller businesses and products,” one said. Another commented: “I become aggravated by not having the MVR and insurance score upfront in the rating process. That then leads me down a blind path in the company selection determination.” One producer wanted the tool to integrate better with his agency’s AMS, while another wanted it to “give more accurate quotes instead of being just a bridging tool.” That said, there were also plenty of producers who gave their rate/quote tools good marks – but even they had wish lists of improvements. “I’m happy with it,” said one producer who scored his tool a 10 out of 10, but he went on to add: “It could maybe be more intuitive and possess the ability to populate information from LexisNexis, state records, etc.” Another high scorer wanted a tool that offered “more customizations for different carriers.”

Among those producers who wanted to see improvement, integration issues were a common theme. One producer gave his system high marks, but said: “[It] would be nice if all platforms had the ability to print to eAgent.” Another commented that his CRM “needs seamless integration with HawkSoft Anywhere. [And] more pre-written content for holidays and normal recurring agency events. Should be able to add VIPs to lists who aren’t in the agency management system.” Other integration requests included “the ability to integrate Infusionsoft and InsurancePro” and “improved integration with quoting systems and documents.” Despite the strong overall results, ideas for upgrades kept rolling in. One producer wanted a better mobile app, while others wished for a “more intuitive” system and “more flexibility to track leads and quotes.”

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WHAT’S YOUR COMBINATION FOR SUCCESS?

Websites | Marketing | Rating | Management

Find your agency’s combination at GetITC.com

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FEATURES

TECHNOLOGY REPORT

LAIRD RIXFORD OF ITC ON CUSTOMER RELATIONSHIP MANAGEMENT SYSTEMS In the modern insurance industry, why is it so important for producers to embrace cutting-edge technology? The number-one reason producers should embrace cutting-edge technology today is that their competition has already done so over the past few years. Some of the technology they have adopted includes automated marketing systems to sell clients before, during and after the sale; integration of comparative rating throughout their online and call-based sales organizations; and CRMs and agency management systems to manage the client’s life cycle within the agency, which maximizes longterm retention and offsets higher acquisition costs. What should producers look for in a CRM? Every CRM should enable a producer’s ability to not only manage a client, but also build upon the initial relationship and turn them into a long-term advocate. Capable CRMs provide this through deep or embedded integration with third-party systems such as marketing platforms and comparative rating systems. These integrations allow producers to do everything from

one system, giving producers more time to do what they do best: sell. CRMs have come a long way in recent years. Is there still room for these systems to improve? Absolutely. This is where existing technology vendors within the insurance industry can help agencies and the CRMs they use. Traditionally, insurance industry technology vendors have created walled gardens where their platforms do not integrate with other third-party systems. This has prevented critical access to an agency’s data, limiting the usefulness a CRM can provide. How important a role do CRMs play for producers on a daily basis? CRM stands for customer relationship management. I don’t like the word ‘customer.’ I would rather use the word ‘client’ because as an insurance professional, you build relationships with your clients. Therefore, a client relationship management system goes beyond just the management of customer policies and agency commissions held by your agency management system. It also maximizes your relationship with your client through a holistic understanding of their

journey within your agency. What do you think will be the next big disruptor in insurance? Data is and will continue to be the unspoken disruptor of the insurance industry. The disruption comes from the data within marketing platforms that track and craft a unique buying experience for today’s modern insurance consumer. From the data that is stored and collected within agency automation systems such as comparative raters and management systems. From the data from connected vehicles fueling usage- or mileage-based insurance platforms. From the data provided by third parties to better underwrite the risk beyond the usual credit score and driving record. From the troves of data that insurers have collected over time. All of this collective data will continue to fuel the disruption of how insurance is marketed, sold and retained as it is being fed into artificial intelligence and neural learning nets.

Laird Rixford

IBam AB

T I

CEO

INSURANCE TECHNOLOGIES CORPORATION [ITC]

IBam A

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E-SIGN SOLUTIONS

seats in agencies,” “If I paid more for it, it would probably open up the features I want” and “[It should be] more affordable for more users.” Issues around usability and functionality also came up. One producer commented: “I’ve had multiple clients tell me they had issues trying

TOP TECHNOLOGY WINNERS Adobe Sign

InsureSign

DocuSign

RightSignature

Average score: 8.30

With an impressive average rating of 8.30 out of 10, e-sign solutions was the highest-scoring category in this year’s Technology Report. Four providers achieved Top Technology accolades in this burgeoning segment, and like last year, when 82% of respondents said they either like or love their e-sign software, producers who use this technology seem to like what they’re getting. Many producers gave their e-sign provider a 10 out of 10 and had nothing to suggest in IBam ABout_Quarter page_UPDATED_2.pdf 1 16/02/2018 1:46:00 AM terms of improvements. “It is very easy to use,”

said one producer. “It’s great – no complaints,” said another. Among those who expressed frustration, pricing was a common concern. One producer who gave a score of 10 out of 10 said: “Technically, we are very happy with the services and support. Our only issue is with the pricing. We have to commit to a volume, and if we don’t use all our envelopes, the unit cost becomes relatively higher, or even prohibitive.” Other complaints about cost included: “Too expensive for multiple

IBAMAG.CO M ISSUE 5.12 | $12.95

Let the good times roll

T HO 10

Whether it’s a nonprofit gala, a small wedding or a music festival drawing thousands of fans, special events of all sizes need proper insurance coverage

MAKING PLANS for sunnier times is a way for many Americans to get themselves through the dark, dull days of winter. Whether it’s cheering on a local sports team or seeing a

companies also face a plethora of risks and potential losses. For any special event, a comprehensive insurance policy plays a crucial role.

“Higher-hazard events can include elements like overnight camping, fireworks, amusement devices and music genres with increased security exposures” Stephanie Waldron, K&K Insurance Group legendary rock band in concert, special events are key to American life, particularly in the warmer months. Many festivals and gatherings that started off as grassroots events are now multimillion-dollar corporations with hundreds of employees. But while they enjoy the benefits of their evolution into profitable corporations and aspirational brands, these events

The festival circuit The events space represents a good opportunity for brokers and agents looking to boost their books of business. The festival scene is going through a particularly successful period. Kicking off with South by Southwest [SXSW] in March in Austin, Texas, the festival season runs through spring and summer and into fall, and attracts millions

to [use the software] from a mobile device. I also would like the ability to change the email address a document was sent to without creating a whole new template. Also, it would be nice if we could send a created document to customers by just adding a new email address instead of having to create a whole new document to send and attaching the signature spots again.”

MAGAZINE-EMAG

FEATURES

SECTOR FOCUS: SPECIAL EVENTS

THE CHOICE IS YOURS WITH

“We have to commit to a volume, and if we don’t use all our envelopes, the unit cost becomes relatively higher”

WHAT SHOULD SPECIAL EVENTS COVERAGE INCLUDE?

General liability

of attendees eager to let loose. To give the impact of these festivals some context, the 10-day SXSW festival is Austin’s biggest revenue-producing event, hosting 300,000 people and featuring 2,000-plus musical acts, movie screenings, panels and workshops. Another major event, California’s Coachella Valley Festival, attracts more than 100,000 music fans and generates an estimated $704 million in overall economic activity.

“The most common claims arising out of events are slip-and-falls,” says Stephanie Waldron, SVP of the events and attractions division at K&K Insurance Group. “Events exist at a variety of venue types and often in fields, where walking surfaces are more hazardous than paved areas. “Event types, number of attendees and locations/jurisdictions are major factors determining the premium size for a particular risk,” Waldron continues. “Higher-

hazard events can include elements like overnight camping, fireworks, amusement devices and music genres with increased security exposures.” It’s not only festivals, celebrations and cultural gatherings that require special events coverage. In many cases, when a corporation hosts a special event or picnic for staff and their families, the corporate liability policy often doesn’t provide adequate coverage, so the company needs to make a

Liquor liability

Property liability Event cancellation

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THREAT

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Sexual abuse/molestation Crime insurance

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INNOVATION AT LLOYD’S

How the centuriesold insurer is staying on the cutting edge

AT YOUR SERVIC

E Exploring the unlimited potential of hospitality the sector

Insurance Business America magazine features industry reports recognizing the achievements of key individuals and businesses as well as providing the latest in business best practice and opportunities for growth. Have every issue mailed to you, or emailed to your inbox.

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The Insurance Business America website is an online industry hub committed to delivering the latest industry news, opinion and analysis for today’s sophisticated insurance brokers and agents. The exclusive e-newsletter service delivers need-to-know developments to inboxes, as well as video reports from Insurance Business TV.

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FEATURES

TECHNOLOGY REPORT WEBSITE PROVIDERS TOP TECHNOLOGY WINNERS Advisor Evolved

GoDaddy

Alicor Solutions

ITC

Average score: 7.71

The website providers category enjoyed some strong results in 2018. Four providers achieved Top Technology status: Hibu fell off the list from 2017, but Advisor Evolved and Alicor Solutions joined GoDaddy and ITC. Last year, more than 75% of producers who used a website provider said they either liked or loved the platform they used, and 2018’s results are strikingly similar.

Many producers gave their website provider high marks, and several didn’t hesitate to lavish praise. “I think they are already the best in the industry – tailored for insurance agencies and including video quote proposal functionality,” said one producer. Another commented: “[We are] using them for the first time in setting up a new website to replace our current one – very

DIGITAL MARKETING TOP TECHNOLOGY WINNERS ITC

Agency Revolution

Outbound Engine

Rocket Referrals

Average score: 7.50

While only two providers achieved a Top Technology ranking for digital marketing in 2017, this year four companies made the list. Last year’s winners, ITC and Outbound Energy, are joined this year by Agency Revolution and

Rocket Referrals. This category encompasses any company that provides search engine marketing, social media and other content services. The average ranking of 7.50 is a positive one and an

responsive so far.” Yet another producer couldn’t think of a single improvement for his website provider: “This vendor is awesome and provides many valued-added tools for better communication with prospects and clients.” Among those with suggestions for improvement, usability and integration with other systems were two common refrains. One producer requested an improved user interface that would “allow additional website design modifications the user can do instead of the delay in having the [provider’s] team make the adjustments for things like color changes [or] header and footer text changes, [and] improve the ability to add photos and videos to the site.” Other suggestions included “better customer service,” “better support” and “more customization.” A less-than-satisfied producer hoped his provider could “lower their costs, add more widgets and integrate with other products,” while another who gave a score of 5 out of 10 simply said: “I would like to find a quicker and easier method of modifying/updating our site. I am an insurance agent, not a web developer.”

improvement on last year, when only 60% of producers said they were either satisfied or more than satisfied with the services they received. Many respondents gave their digital marketing provider high marks, accompanied by comments like “great services.” But many high-scoring producers did bring up a few pain points with regard to digital marketing. “We’d like to provide more content to them versus them just using their own,” said one producer. “I wish they would be more proactive in contacting me for regular email marketing,” said another. A third complained that “there are a fair amount of mistakes between our system and theirs. The integration could be better. [It needs] more insert fields for communication.” Many producers also had suggestions for how digital marketing services could be improved, including making them “more userfriendly,” offering “better training” and adding “customization of email marketing.”

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FEATURES

TECHNOLOGY REPORT

RICK FOX OF AGENCY REVOLUTION ON DIGITAL MARKETING In the modern insurance industry, why is it so important for producers to embrace cutting-edge technology? In the past, insurance agents made their living off the personal connection they established with their clients. Over time, more and more distance developed between them and the people they were serving. Many agents now are complete strangers to their own clients and have completely abandoned any semblance of a relationship with the policyholder. Cutting-edge technology, especially that used for marketing, is all about conducting 1:1 relationships at scale. Now an agent can virtually reach out to each and every member of his clientele and establish a meaningful connection. This kind of relationship-building wouldn’t be possible without the powerful communication technology we are using today. How has Agency Revolution helped changed the insurance industry? Agency Revolution has transformed how agents and brokers look at the value of their personal communication streams with clients. They are able to look at

the delivery of value-based content and personalized communique as a legitimate offering. Rather than rely on factors like price, they instead are touting the benefits of a personal relationship with them. This provides the agents and brokers we work with the opportunity to establish a unique service proposition, which acts as their point of differentiation when attracting new clients and retaining old ones.

“Technology allows insurance producers to be marketing themselves 24/7” How can technology help insurance producers with their marketing efforts? Once insurance producers realize the value of their brand representation, it doesn’t take much to convince them that they will need to use technology in order to effectively manage it. The first step is the communication of their brand promise to clients and prospects, and the second step is delivering on that brand promise in order to create satisfaction and advocacy with

their clientele. Technology allows insurance producers to be marketing themselves 24/7 and providing prospects with important resource material on their path to engagement. What do you think will be the next big tech innovation in insurance? We will see communication technology increase in its ability to understand the pain points, opportunities for gain and customer jobs that make up each client’s unique customer profile. The more we are able to understand what truly drives a client or prospect, the more we will be able to deliver on their needs and concerns. As Steve Jobs once said, we need to understand our customers even better than they understand themselves. We will use technology to identify and anticipate their needs and then deliver powerful solutions tailored to each individual.

Rick Fox President AGENCY REVOLUTION

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THE FASTEST GROWING AGENCY NETWORK FOR A REASON.

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FEATURES

AGENCY INSIGHT

Where insurance meets hospitality From GDPR to #MeToo, EPIC Insurance Brokers hospitality practice leader Renee Crow outlines the biggest threats hotels and restaurants must contend with today

IBA: What are the biggest risks facing hotels and restaurants right now? Renee Crow: Something that is very relevant in the hospitality sector is GDPR, the European Union cyber rule that went into effect last month. With the advent of GDPR, restaurants and hotels have had to amend their terms and conditions and privacy policies. It really put a burden on hotels, but the bigger companies stayed ahead of the game with compliance. What concerned me were the smaller hotels – the company that might manage only 100 hotels, which need assistance in this area because they are exposed. The regulatory fines in this area are enormous if they are out of compliance. In general, cyber risks are huge with hotels because it’s not about if you will have a breach, it’s about when it will happen and how you will mitigate the impact. It creates such an opportunity for lawsuits, and with the cost of mitigation and forensics, it is probably one of the biggest risks facing the hospitality sector right now. People talk about the big impact from hurricanes last year, but hurricanes you understand a little better. You can insure a hurricane, but cyber is still that unknown, unquantifiable risk, which makes it top of mind for a lot of people. The next big risk has been the arrival of the #MeToo movement and the impact that

is having on not just the hospitality industry, but on all businesses. It impacts not just employer-employee relations, but guestemployee relations and the responsibility an employer has to protect their employees. Insurance companies are starting to take a real look at what might linger out there when it comes to 10-year-old interactions that someone might now decide to report, and what can happen relative to that.

IBA: How is EPIC preparing clients for these risks? RC: We partnered with a national law firm to present a webinar to all of our clients for GDPR and advise them on what they could face in terms of regulatory fines and penalties for non-compliance. As brokers, we can’t

advise on legal matters, so we try to partner with resources that can be of value to our clients. With my hospitality group, we checked all of our cyber policies to ensure there weren’t any gaps relative to GDPR. Not all insurance companies are equal on the cyber platform, so there was a lot of front-end work to make sure our clients wouldn’t have gaps.

IBA: What are some current trends in terms of how hotels and restaurants are being insured? RC: There’s a number of ways hotel ownership structures are set up. One example is you have a primary hotel owner, an entity that owns the building and a hotel management company, so there are three tiers of organization. A fourth entity can also be added if the

THE OTHER SIDE Renee Crow got her first taste of the hospitality industry at the age of 16, working for a local pizza restaurant in high school. At 18, she moved to Great Falls, Montana, where she worked at an insurance brokerage while also assisting the brokerage owner with his motel business. “Between the pizza restaurant and the motel, those were my first introductions to what the inside of hospitality looked like,” Crow says. In 2007, she joined Kimpton Hotels & Restaurants as a risk manager and later moved to EPIC Insurance Brokers following Kimpton’s purchase by IHG. “I hired EPIC as our broker while at Kimpton and found their attention to detail and willingness to learn about our operations very amazing,” she says. “It’s been a good change because I brought insider viewpoints to EPIC with new vision, a sole focus on hotels and restaurants, and an understanding of how those businesses work.”

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FAST FACTS: EPIC INSURANCE BROKERS

Top areas of specialization Hospitality Design and construction Transportation Healthcare Marine

“People talk about the big impact from hurricanes last year, but hurricanes you understand a little better. You can insure a hurricane, but cyber is still that unknown, unquantifiable risk”

Food and beverage Financial services Real estate Energy

hotel company enters into a joint-venture arrangement to operate a restaurant within their hotel. What I’ve found is that underwriters don’t understand that because this can be very complex and difficult to understand. This is particularly challenging when it comes to cyber coverage and who has the legal responsibility relative to a specific breach. I spend a lot of time questioning clients about how their structure is organized to give them a good recommendation about how things are supposed to be insured to ensure they are properly covered.

IBA: What’s the biggest challenge you’ve personally faced when insuring

clients in the hospitality sector? RC: Last year, I had a client that was forming their own hotel management company. They literally gave me four days to place their entire insurance program because they had to take over a contract on a certain date. When you work in hospitality, you become keenly aware that no one has any time, so when they say something has to be done, it’s not that they don’t want to give you 30 days’ notice, it’s that they sometimes don’t have that time. It can be a challenge to us, and it’s something I have had to educate my team about so they don’t feel overwhelmed when things come to us quickly – it’s just about how we respond to their needs as their insurance advisors.

Law firms

Year founded: 2007 Headquarters: San Francisco Number of locations: 50 nationwide Number of employees: Approximately 1,400 Leadership team: John Hahn, CEO, EPIC Holdings; Steve Denton, president, EPIC Holdings; Pete Garvey, CEO, EPIC Insurance Brokers & Consultants

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FEATURES

SECTOR FOCUS: ENERGY

Business in the pipeline IBA takes a closer look at the energy insurance market and finds out why one insurer has launched a specialized renewable product ENERGY IS a hugely lucrative – and often volatile – industry that is made up of three distinct sectors: upstream, midstream and downstream. The upstream sector accounts for the exploration and production side – the organizations that go out and find oil and natural gas in the ground and then drill holes to produce wells. In most parts of the world, these

individual working within that supply chain requires a robust insurance policy. “Each sector has a very specific set of risk exposures and different moving parts, and as a result, most insurance professionals tend to specialize in one sector – upstream, midstream or downstream – rather than trying to spread themselves across all three,”

“Along with low activity, we have been experiencing low rates ... Having both of those happen at the same time has really stressed the insurance industry” Matthew Begnaud, Worldwide Facilities upstream organizations are government-run entities, whereas here in the US, the vast majority are privately held. The midstream sector includes companies responsible for the transportation of oil and natural gas, which generally occurs via individual pipelines, trucks or rail. Midstream operations transport oil and gas from the well head to the refineries – the downstream sector – where it’s turned into marketable products like gasoline or jet fuel. Any organization or

says Matthew Begnaud, senior vice president and broker at Worldwide Facilities. “We focus on upstream and, as with many other industries, pollution is the primary risk exposure for our clients.” Begnaud highlights two environmental disasters that illustrate the potential magnitude of a pollution event. The Exxon Valdez oil spill is, to this day, considered one of the most catastrophic human-caused environmental disasters in history. The spill occurred in

March 1989 when an oil tanker bound for Long Beach, California, struck Prince William Sound’s Bligh Reef and spilled 10.8 million gallons of crude oil. More recent was the 2010 Deepwater Horizon oil spill in the Gulf of Mexico, which is considered the largest marine oil spill in history. The US government estimated the total discharge to be 210 million gallons, or 4.9 million barrels. Bodily injury is another significant exposure for organizations in the upstream sector, Begnaud says. “There are inherent dangers that come with drilling into the earth – it has natural pressures, and sometimes Mother Nature pushes back,” he says. “If you don’t have the right procedures in place or errors are made, explosions and ruptures can take place, and bodily injury is something that happens. Working with complex, heavy machinery also increases the bodily injury risk.” Property coverage is another key component of a modern oil & gas policy. The equipment used by upstream operators is expensive and increasingly sophisticated. Given the complex and potentially hazardous nature of the work, companies make massive investments to secure the best possible equipment. “Ten years ago, the average cost of a drilling rig would be around $5 million or $6 million,” Begnaud says. “Today, the newer automated rigs are costing around $20 million; they have almost tripled value in a decade. As a result, property claims can end up being very expensive.”

The post-crash landscape It’s been a tough few years for all sectors of the oil & gas industry since the crash in oil prices in 2014. When oil prices drop below a certain point, upstream operators are unable to turn a profit and halt their drilling operations. According to oil field services company Baker Hughes, in 2012, there were, on average, 1,853 rigs operating on any given day. By late 2016, that number had dropped to around 400, a 78% decrease in activity. As of this May, the

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ORDINARY PEOPLE GETTING THE EXTRAORDINARY DONE

OIL PRICES: THE UPS AND DOWNS $110 $100 $90

$70 $60

PRICE PER BARREL

$80

$50 $40 $30 2014

2015

2016

2017

2018

YEAR Source: Trading Economics

“There is currently enough capacity to serve the [renewable energy] market, and the coverage generally finds its way back to London”

Industry-Leading Wholesale Broker & Program Manager

Charles Caldwell, Midlands average daily rig count was 957, an increase that can be attributed to the gradual rise in oil prices over the past 12 months. Any lack of activity in the upstream sector also impacts midstream and downstream companies and insurance professionals who work in the space. When there’s no drilling activity taking place, the construction of new downstream facilities is put on hold. Projects planned when drilling activity was strong get put on the shelf without hesitation. “The premium volume into the market goes down quite substantially,” Begnaud says. “So, if you are an insurer, the only time you

will see substantial premium is when there is drilling activity. One thing that has been unique in recent years is that, along with low activity, we have been experiencing low rates. Oil has its peaks and valleys, and there have been multiple booms and busts, but what we have not seen previously is a drop in rates when activity declines. Having both of those happen at the same time has really stressed the insurance industry.” Last year, the downstream energy sector suffered a $5.5 billion loss – its worst in nearly a decade, according to data from Willis Towers Watson. However, the insurer

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FEATURES

SECTOR FOCUS: ENERGY

DEEPWATER HORIZON OIL SPILL BY THE NUMBERS

Number of days it took to cap the damaged well head following the initial explosion on the Deepwater Horizon oil rig

210 million

Estimated number of gallons of oil released into the Gulf of Mexico

$18.7 billion

Amount BP agreed to pay in fines and other penalties to the US government

$42.2 billion

Amount BP paid in criminal and civil settlements, as well as payments to a trust fund for restoration Sources: Smithsonian Institute, US Coast Guard, New York Times, Forbes

said in its 2018 Energy Market Review that, despite the record loss and the impact of 2017’s hurricane season, all areas of the energy insurance market remain relatively stable, due in large part to the continuing availability of capital in the marketplace. Willis Towers Watson found that capacity edged up in both upstream and downstream property markets, to $7.95 billion for upstream and $6.8 billion for downstream. Upstream, meanwhile, had one of its lowest loss years to date, according to the report

– less than $1.3 billion, thanks to a benign 2017 loss record. There are signs that the industry could be set for a more positive period. Oil prices have recovered well, rising from around $43 per barrel in July 2016 to $72 per barrel in May of this year – a 40% increase. However, rig operators are often cautious when it comes to restarting operations because it is extremely expensive to bring rigs back into full working order. If the oil price rise isn’t sustainable, it could have potentially catastrophic financial implications. Despite the caution, there has been an uptick in activity in recent months, although rock-bottom rates mean that insurers aren’t seeing major premium come back into the market.

Winds of change In the midst of this challenging environment, Oklahoma-based insurer Midlands has launched a commercial wind power product designed to meet the needs of the burgeoning renewable energy market. Operators have targeted Oklahoma as a good location to build wind farms, and with so much activity in the

region, the company felt it was well placed to develop coverages to satisfy the needs of owners and operators in the space. “The policy covers the wind generator, which is made up of very expensive and high-tech equipment,” says Charles Caldwell, senior vice president at Midlands. “There is currently enough capacity to serve the market, and the coverage generally finds its way back to London.” The Midlands policy is available for onand offshore wind power projects and can be tailored to individual locations, setup, technology and an agreed-upon wind index. By its very nature, wind is irregular, and lossof-income coverage due to wind volatility is an important component of the policy. A payment is triggered when wind speeds are higher than or fall below an agreed-upon percentage of the calculated long-term average. Caldwell encourages brokers looking to take advantage of the renewable boom to find markets that fully understand wind operators’ businesses and their exposure. “They should partner with people who are truly experienced in this part of the marketplace,” he says.

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FULLPAGE ADVERT

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FEATURES

MANAGEMENT

Five signs your employees don’t care anymore From absenteeism to poor-quality work, leadership expert Karen Gately identifies the warning signs of employee disengagement and what you can do about them PUT SIMPLY, engagement is the extent to which people feel connected with and committed to their job, team and organization. Being connected is most clearly reflected in the emotional ownership people feel – in other words, how much they really care about achieving their own objectives as well as about the success of their team. The ultimate indication of disengagement is when it results in a decision to leave the job. While some people will stay in a role they’re not happy in, most will eventually choose to look for a new and better opportunity elsewhere. Of course, some people leave feeling satisfied with their employment experience, but the reality is that many don’t. Inspiring people to build a career rather than simply do a job is an important challenge for leaders. Most people move on because they are looking for something they don’t have or can’t get where they are. Whether that’s a more interesting or challenging job, more money, a greater work–life balance, or a healthier workplace culture, the reasons people choose to leave are many and varied.

How to spot disengagement The five most common signs of disengaged employees include:

and unplanned leave. Most people find it much harder to get out of bed and go to work when they are dreading what’s waiting for them when they get there. 2 Lack of discretionary effort

1 Absenteeism

Absenteeism involves high rates of frequent

Discretionary effort is defined as what people do because they want to, not because they feel

obligated to. Disengaged people typically do only what they have to do to keep their job. Some deliberately limit their contributions in silent protest at their unhappiness. 3 Absence of teamwork

People who are disengaged will often fail to work well with other people. Those who

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are engaged will often find their disengaged colleagues frustrating and a roadblock to success. The potential for these frustrations to escalate into conflicts is very high. 4 Suboptimal productivity

Simply focusing on the task at hand, let alone driving to achieve optimal results, is a challenge for disengaged staff. While they struggle to find energy and focus, their job is not getting done. 5 Poor-quality work

Errors, overlooked priorities and missed deadlines are just a few examples of the impacts disengagement has on the standard of performance achieved.

Common challenges in small business Keeping people engaged in a small business environment can be especially difficult. Among the most common challenges leaders face include: Providing rewarding careers. Often small businesses are not in a position to offer the career advancement people are looking for. Looking for and providing opportunities for people to learn and grow with the business are critical challenges. Investing the time needed to help people feel valued and supported. Often leaders in small businesses have a heavy individual workload to manage. The demands of service delivery, business growth and financial management make spending time with staff challenging. Typically, this leads to inadequate focus on the essentials of people management: providing clarity, coaching and accountability.

a common mistake leaders make. Each person is unique, and to influence their commitment takes understanding of what makes them tick. As I share in my latest book, The People Manager’s Toolkit, the most important thing any leader can do to improve engagement is focus on the spirit of their team. Our spirit is the positive energy that we have in reserve and draw on to get our job done. People who are energized typically choose to behave in ways that enable success. Conversely, when people are drained, they become more likely to disengage and behave in ways that undermine not only their own success, but also that of

Identifying and accepting the fact that you have a staff engagement issue is the first step toward overcoming it. Choosing to do something about it is the next. The leaders I work with are typically frustrated by the demands on their time and energy of having to deal with performance issues, and all too often they fail to act. Overlooking or avoiding obvious signs of disengagement is

How people feel about what they and their organization contribute to the world matters. Doing a job that has an altruistic purpose energizes many people, while others derive purpose and meaning from the harmony between their values and those of the organization they work for. Still other people want to feel like they’re a part of something bigger than themselves or are contributing to their organization’s success. 4 Belief

The strength of our belief is reflected in how we feel about the future and our ability to influence that future. Examples of the types

Feeling valued, qualified, capable and successful are powerful energizers and drivers of engagement. Influence people to feel valued, and they are more likely to remain connected with their job and your business their team. The following are four common influencers of a person’s spirit and therefore engagement at work. 1 Sense of personal value

How we feel about ourselves, as well as how we believe others feel about us, energizes or drains our spirit. Feeling valued, qualified, capable and successful are powerful energizers and drivers of engagement. Influence people to feel valued, and they are more likely to remain connected with their job and your business. 2 Relationships

Driving engagement

3 Purpose and meaning

The quality of our relationships with our boss, colleagues, staff, clients, service providers, etc., influence the way we feel about being at work. When we trust and respect the people we work with, we are more likely to be engaged. Contemplate for a moment the people who inspire you to give your all. Equally, reflect on those who cause you to minimize your efforts and do no more than you have to.

of positive emotions we want people to feel include being hopeful, optimistic, confident and empowered. Make engagement matter. Hire and retain people who want to be there, understand your team and deliberately influence the things that energize their spirit, and you are well on your way to overcoming most causes of disengagement. As a leader, there is a lot you can do to influence the engagement of your team, but only so much. Expect people to also take ownership of their own spirit and level of engagement. As the age-old saying goes, you can lead a horse to water, but you can’t make it drink.

Karen Gately is a leadership and people management specialist and a founder of Ryan Gately. She works with leaders and HR teams to drive business results through the talent and energy of people. Gately is the author of The People Manager’s Toolkit: A Practical Guide to Getting the Best from People and The Corporate Dojo: Driving Extraordinary Results Through Spirited People.

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FEATURE / BROKER EDUCATION FEATURES

INNOVATION

Creating a culture where innovation thrives What does it take to embed a culture of innovation in an organization? Amanda Imber examines the key drivers of innovation culture

DOES YOUR organization have a culture in which innovation thrives? Are people challenging the status quo and being encouraged by leaders to take risks in pursuit of innovation? Or is the opposite true – managers don’t take time to listen to new ideas, and suggestions to make improvements are met with the comment, “But we tried that last year and it didn’t work”? Building a culture of innovation is hard work. Many leaders who have been given this directive immediately think about the Googles and Apples of the world. Images of beanbags and table-tennis tables fill their minds, as do ‘blue sky’ workshops in far-off country retreats. However, what we know from research is that all of this is completely ineffective in creating a culture of innovation. As is often the case, the voice of popular culture and fad-ridden management books wins out over the voice of scientific research. Jargonfilled, densely written journal papers are harder to access than the pop-psych books filling the shelves. The scientific research into how to create a culture where innovation thrives is both plentiful and precise. For example, Samuel Hunter from the University of Oklahoma, along with his colleagues Katrina Bedell and Michael Mumford, ran a large-scale meta-analysis to understand which variables had the biggest impact on innovation culture. They reviewed

42 journal papers, which, in total, had drawn data from 14,490 participants. The research revealed 14 key drivers into innovation culture and ranked the drivers from most impactful through to least impactful. Let’s delve further into three of the top-ranking variables. 1 Find the right level of challenge

Hunter’s meta-analysis found that employees feeling a strong sense of challenge in their work is one of the strongest drivers of a culture of innovation. They defined ‘chal-

Silvia da Costa and several colleagues from the University of the Basque Country examined the difference in creativity for those in challenging versus non-challenging roles. The researchers found that if people are in a role that challenges them, 67% will demonstrate above-average creativity and innovation in their performance. In contrast, only 33% of people in ‘easy’ jobs show above-average innovation. At GE, Jeff Immelt famously introduced imagination breakthroughs [IBs], defined as an innovation that will contribute $100 million worth of incremental growth, to

It is not uncommon for senior leaders to play it safe when confronted with the choice of whether to support innovation lenge’ as the ‘perception that jobs and/or tasks are challenging, complex and interesting – yet at the same time, not overly taxing or unduly overwhelming’. It is important that you don’t simply think about how to give people the biggest possible challenge. Instead, you should ensure that the level of challenge you set is one that is achievable. On the flip side, setting tasks that people are able to complete with their eyes closed will not breed a culture where innovation thrives. In a 2014 review of several meta-analyses,

his senior leadership team. Each member of the team was responsible for generating three IBs every year. The challenge is big, but the resources made available to leaders make it a challenge they can meet. Matching the level of challenge to an individual’s skill level is key to finding the optimal level. As a manager, take time to thoughtfully consider how you allocate tasks and projects to people. Ensure that you are matching these elements so that people feel a significant sense of challenge.

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2 Encourage risk-taking

The notion of failure being unacceptable is one that I have found resonates with many organizations. Failure is generally thought of as a dirty word, something that gets swept under the carpet when it does rear its ugly head. But being able to acknowledge and learn from failure is a huge part of building a culture where risk-taking is tolerated and innovation can thrive. Leaders play an important role in signalling that risk-taking is encouraged and that failure is tolerated. The Tata Group is an example of a company that has embraced risk-taking. Like many organizations serious about innovation, they have an annual innovation awards program, known as InnoVista. While that is not particularly ground-breaking, what is innovative is the awards categories. InnoVista pays tribute to the group’s most outstanding and promising innovations, but there is also a category called Dare to Try, which was launched back in 2009. This category is reserved for ideas that were attempted but that, according to the Tata Group, ‘have fallen short of achieving

optimum results’. As a leader, think about initiatives and actions you can put in place to illustrate that your company doesn’t just pay lip service to risk-taking, but actually does it. You might even want to consider having a company award for innovations that were not successes, but where the learnings were really rich. Finally, consider reframing risk-taking in a positive way, such as talking about how risks provide people with the opportunity to learn. 3 Support from the top

Ensuring that senior leaders in your organization understand and communicate the importance of innovation is critical. In fact, Hunter’s meta-analysis showed that people feeling that the top level of management truly supported innovation efforts was one of the strongest predictors of an innovation culture. Unfortunately, it is not uncommon for senior leaders to play it safe when confronted with the choice of whether to support innovation. I recently worked with the Australian

leadership team of a global technology company. While innovation was a strategic priority for the company globally, the Australian CEO was frightened of innovation because it meant taking a risk. And this fear permeated the business, which meant that employees were too nervous to do anything differently because that was the message they were getting from the top. If you are a senior leader, make sure that you see your role as actually innovating, as opposed to just delegating it to other people. Research has shown this is a key differentiator between leaders in innovative versus noninnovative companies. Further, as a leader, think about behaviors you can engage in that symbolize your commitment to and support of innovation.

Dr. Amantha Imber is the founder of Inventium, a leading innovation consultancy. Her latest book, The Innovation Formula, tackles the topic of how organizations can create a culture where innovation thrives.

FEBRUARY 2015 | 85 www.ibamag.com

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PEOPLE

CAREER PATH

SCALING UP

Whether creating a blog or founding a fintech firm, Liri Halperin has no problem starting small Growing up around a family business in the midst of unstoppable expansion gave Halperin firsthand experience of both progress and delayed gratification “I grew up with two mentors who gave me the confidence do to whatever I wanted – the atmosphere at home called for working hard today and enjoying it tomorrow. My mom was my role model; she was very impressive”

1990s

GETS AN ENTREPRENEURIAL FOUNDATION

2009 FINDS FINTECH While gaining a degree in interactive communication, Halperin worked part-time as a journalist. Part of her beat involved covering startups, and she found herself fascinated by the new field of fintech

“It was very early days then; no one believed a disruption could be made. It was uncharted territory, and thus very challenging. Fintech startups really wanted to change the world”

JOINS THE ARMY Being drafted into the Israeli army as a teenager for compulsory military service provided Halperin her first experience of managing people when she volunteered for a leadership role “I had command of dozens of soldiers. I was responsible for their lives and well-being; I wanted to do my best. I was young for such responsibility. Those two years have helped me a lot in my career”

2012 GETS CRAFTY A crafting blog Halperin had been writing since 2010 was selected as one of Israel’s most popular websites by a major publisher. The recognition provided her with an opportunity to monetize the blog by building and selling do-it-yourself crafting kits. Demand took Halperin by surprise and prompted her first experience as an entrepreneur when she established Dealiri Box, a site dedicated to selling the kits

2013 EXPANDS HER VIEW The success of Dealiri gave way to Take&Make, an enterprise for which Halperin collaborated with partners for the first time. Take&Make’s success took Halperin from Israel to Silicon Valley, where the company’s client list eventually grew to include Google, Autodesk and Airbnb “It turned my attention to beyond Israel; my network expanded”

2016 FOUNDS LEO Halperin’s latent interest in fintech was reignited by a frustrating experience with her insurance agent when she tried to purchase renter’s insurance, which led her to create virtual assistant LeO for the industry “It didn’t make sense to me that even in 2016, they weren’t using tech. We had to communicate using faxes – that’s when I saw the potential. We’re not trying to disrupt the industry; we’re trying to work with the industry. We’re here to help”

2003

2016 STARTS P51 The series of gatherings Halperin started for female entrepreneurs began as a sort of support group and evolved into P51, an initiative that works to drive workplace change “We shared our thoughts and difficulties and helped one another; we realized there is still a glass ceiling that needs to be broken. That was the ground point to establishing this initiative, which is set up as a mission to create an equal working environment and a favorable workplace for women”

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PEOPLE

OTHER LIFE

TELL US ABOUT YOUR OTHER LIFE Email iba@keymedia.com

O’ Brien has played for the Sa n Fra ncisco Dragons, the Ohio Machine, the Atla nta Blaze a nd the Chesapeake Bayhawks

Hours of training O’Brien puts in each week during the season

Number of professional games O’Brien has played in his career

Screws in O’Brien’s shoulder (along with a 10” plate) from a game injury

TAKING THE FIELD Even when he was building an employee benefits brokerage from scratch, Eric O’Brien was never far from a lacrosse field WHEN HE changed schools at the age of 14, Eric O’Brien had no idea it would end up altering the course of his life. There was no spot available on his new school’s baseball team, so the founder of Mosaic Employee Benefits turned his attention to a sporting program that had just been introduced. “I thought, I’ll try out lacrosse,”

O’Brien recalls. “I loved it.” Indeed, O’Brien performed so well that he was wooed by numerous Division I universities, although the Columbus native ultimately stuck close to home, opting for a scholarship at Ohio State. “Lacrosse is very physical; every game tested me,” he says. “I enjoy being the best at what I do.”

Even after founding his own business, O’Brien continued his lacrosse career as a professional player, traveling every weekend for games and training sessions. However, with the recent arrival of a new baby, O’Brien made the decision to retire, and now looks forward to the day his daughter can join him on the field.

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Expect big things in workers’ compensation. Most classes approved, nationwide. It pays to get a quote from Applied.® For information call (877) 234-4450 or visit auw.com/us. Follow us at bigdoghq.com. ©2018 Applied Underwriters, Inc., a Berkshire Hathaway company. Rated A+ (Superior) by A.M. Best. Insurance plans protected U.S. Patent No. 7,908,157.

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