The Voices of Risk Management

Michael Galea is a seasoned Senior Underwriter at GCube Insurance Services Inc., with a decade of experience specializing in offshore wind projects and other renewable energy initiatives worldwide. Michael delves into his journey into underwriting, the challenges and triumphs he has faced at GCube, and his approach to delivering difficult news to clients. In the second half of the show, Peter Nadel joins the podcast as the Director of Member Relations and Marketing at Energy Insurance Mutual (EIM). On the show, Peter delves into his new role at EIM, the unique aspects of industry mutuals compared to other insurance models, and his seamless transition from Marsh to EIM while maintaining positive relationships. Key Takeaways: A little bit about Michael and the work that he’s doing at GCube Insurance. How did Michael get into underwriting? Michael shares a moment in his career at GCube that he’s really proud of. Michael offers tips for when you have to give bad news to a client. Give people bad news early and in person. Michael shares his focus on the renewable energy space in the upcoming years. A little bit about Peter and his work at EIM. What is an industry mutual and how is that different than other insurance mutuals? How did Peter get into insurance? Peter recently left Marsh, but yet he’s here at the Marsh’s Energy Conference with no bad blood. Peter explains why it’s important to communicate and be honest about your needs. What’s the difference between an industry captive vs. an industry mutual? Peter understands how much work goes behind this podcast and appreciates being on the show. Mentioned in This Episode: Marsh.com GCube Insurance Michael on LinkedIn 2024 Energy Industry Conference Peter on LinkedIn Energy Insurance Mutual Limited

Yan Veytsman is a Senior Account Executive at Marsh, specializing in risk management for large-scale projects, particularly within the renewable energy sector. Yan has successfully placed multiple construction and operational insurance policies for projects exceeding $100 million. His expertise shines in navigating the complex risks associated with natural catastrophes and developing innovative insurance solutions for the burgeoning renewable energy industry. In this episode, Yan discusses the intricacies of managing risks in the renewable energy sector, and why it’s slightly more difficult than traditional tried-and-true industries. We also have Senior Vice President of Power & Renewables, Fred Wass, make a special guest appearance. Fred has been involved in the energy sector for the last 39 years and currently oversees Marsh’s Energy Practice. In his segment, he offers some insight into the energy sector as a relatively new insurance professional himself. Key Takeaways: A little bit about Yan and how he found his path in risk management. What interests Yan about renewable energy? Renewable energy is an industry that’s still developing, so Yan has some room to innovate and define a new model for how to run some of his accounts. Why can’t we use other models in different industries and put them in the renewable space? Why is it so different? With every single venture that Yan’s been involved in, he’s having to figure it out from scratch. There are too many variables to consider that don’t quite transfer over from the old tried-and-true models from well-established industries. How has the oil and gas industry been adapting to the renewable energy sector? Does it still make sense to invest in oil and gas? Katie introduces a new guest, Fred Wass. How did Fred get into this field and why has he stayed for the last 39 years? Fred developed power plants in Pakistan early in his career, but he fell into the insurance industry about 10 years ago. Fred believes it’s a lot easier today to talk to people within your industry and company than it was five years ago. Fred is excited for the future! There’s so much to do and there’s a lot more to come in the next 10 years. Mentioned in This Episode: Marsh.com Yan on LinkedIn Fred on LinkedIn 2024 Energy Industry Conference

Jen Aitchison is the President of Renewable Risk Consulting Inc. With over 15 years of dedicated experience, Jen has become an award-winning leader known for her deep understanding of renewable energy risks and her ability to create transparent, economically viable insurance solutions. In this episode, Jen delves into the nuances of renewable energy insurance and the importance of education and adaptation in the sector and she offers her unique perspective on the future of energy and insurance for those still in college. Key Takeaways: This episode was recorded at Marsh’s 2024 North American Energy Industry Conference! A big shout out to Michael Kolodner and his amazing leadership. Everybody backs clean energy, but sometimes there is a sense of distrust about the “correct” way. Why is that? We will need all types of energy for us to succeed in making it renewable energy. Coal energy is dirty. We all agree it should be reduced, including the coal miners! But then it stops becoming a conversation of energy and a conversation of education and re-employment. The average person is not aware of how many different facets of insurance exist. People think insurance is repetitive and boring. We as an industry need to get better at showing interesting and live case studies. Pick whatever industry your children want to go into and there’s an insurance claim that needs to be filed or underwritten within that industry. If you’re looking for stable employment, the insurance industry will never go through a “recession.” What advice does Jen give to younger college students who aren’t sure what they want to do with their life? Love sports? Love to travel? You can become an insurance underwriter for the sports industry. There are so many avenues you can go. Why is Jen so interested in sustainability? 16 years later, Jen still finds the work she does engaging, impactful, and important! Mentioned in This Episode: Marsh.com Renewableriskconsulting.ca Jen on LinkedIn Marsh’s 2024 North American Energy Industry Conference red.”

Join us as we sit down with Miles Braxton, the Director of Risk Management at Summit Ridge Energy, at the Energy Industry Conference in Houston, Texas. In this episode, Miles discusses the unique aspects of community solar, the importance of diversity in the clean energy industry, and his role in co-founding the Black Oak Collective. Key Takeaways: A little bit about Miles and his role at Summit Ridge Energy. What is community solar? It’s Miles’s mission to provide cheaper electricity directly to residents, especially in underserved communities. Miles always knew he wanted to get involved with energy. He credits his high-school math teacher for the inspiration. How did Miles transition from working on anaerobic digestion projects to focusing on solar energy? Miles decided to join Summit Ridge Energy for a more community-impactful role and he loved the company’s mission. What is the Society of Black Solar Professionals? What was the inspiration for co-founding the Black Oak Collective? Miles shares how he created strategic partnerships and relationships in his career and the impact of certain team members in propelling the Black Oak Collective. This generation is creating a shift in company culture because they are approaching careers from a passion-driven mindset. Miles shares the story behind his favorite colorful drink and the importance of shared experiences in building relationships. What is the Green Gateways program by Black Oak Collective? Mentioned in This Episode: Srenergy.com Blackoakcollective.org Miles on LinkedIn 2024 Energy Industry Conference Thank you :D

Michael Kolodner is the Global Renewable Energy and US Power leader at Marsh. In this episode, Michael shares insights from Marsh’s 2024 North America Energy Industry Conference. He highlights the importance of creating a collaborative space for stakeholders across the energy sector. He emphasizes the critical talent gap in the industry, the innovative approach of bringing diverse voices together, and the future of clean energy sources like geothermal. The episode also features a dynamic conversation with Elisa Cardenda and Andrea Yanez, two ambitious students from the University of Houston, who share their journey into the world of risk management and energy. They shed light on the evolving perceptions and opportunities within the industry from a young perspective. Key Takeaways: A little bit about Michael and his work at Marsh. Michael shares his approach to risk in the energy and power sector. When attending any industry conference, it’s important to facilitate meaningful dialogue without a sales agenda. What are Michael’s thoughts on talent acquisition and how to recruit new blood into the energy sector? Michael shares insights gained from attending and analyzing energy industry conferences globally, particularly in Dubai and Australia, and how it shapes his leadership style and vision. Michael admires how young professionals today seem to be more proactive than ever to advance their careers and seek support. This business is incredibly fun and rewarding; however, the majority of people just don’t know it exists. The barriers to entry into the risk industry are not that high. So many people have fallen into it and stayed. Law professionals aren’t able to say the same thing. Two undergraduates join the podcast to talk about their learning experience and journey into risk management. Elisa and Andrea share their initial misconceptions about the industry and how their exposure to the conference and educational programs changed their perceptions. What are Elisa and Andrea’s thoughts on the Middle East and how they manage their power sector? What makes energy so interesting and exciting for these two students? The discussion on the diversity of the energy sector, the various career paths within it, and the evolving landscape of opportunities is an incredibly exciting space to be in. There are no two days that are the same. You get to learn something new every day. Mentioned in This Episode: Marsh.com Michael on LinkedIn 2024 Energy Industry Conference

Join Sarah Sherman, Managing Director at NFP, as she dives into the intricate world of risk management within the fusion industry. This episode sheds light on the importance of working closely with clients, the requirements for industry-specific knowledge in managing risks, and the value of clear communication and honesty in building professional credibility. Sarah discusses her journey into risk and insurance, her pivotal role in The Wattles Fellowship, and her unique position in outsource risk management at Commonwealth Fusion Systems. Key Takeaways: A little bit about Sarah and her work at NFP. How did Sarah get into risk and insurance? How did Sarah first get involved with The Wattles Fellowship? Sarah explains her role as an outsource risk management in the fusion industry. Sarah shares why she feels very integrated at Commonwealth Fusion Systems, even though it’s a client of NFP. It’s quite common for the client or third-party company to want to continue working with an insurance provider and have them brought on full-time/in-house at their company. If you do a good job, people will want you, no matter what! How much do you need to know about fusion systems to accurately calculate and manage the risk? Sarah’s top industry secret is understanding who she needs to get involved in critical conversations early on. This way, her real risk expertise can shine through and the more senior fusion experts can provide guidance and support. Sarah breaks down how she thinks about risk and mitigates risk. Do not underestimate the power of picking up the phone and talking to people! Text and email are slow and can be misinterpreted. Don’t be afraid to say, “I Don’t Know.” It builds credibility as you seek to find the right and honest answer. Are there groups and communities for risk professionals within the fusion industry? Mentioned in This Episode: Nfp.com Cfs.energy Wattlesfellowship.com Sarah on LinkedIn

Scott Addis, the Founder of Beyond Insurance and a recognized innovator in the insurance industry, shares his multifaceted journey from sports psychology to becoming a key figure in risk management. In this episode, Scott delves into his unique approach to risk management, the importance of active listening and honest communication in understanding client needs, and he discusses his five-step risk management process. He also shares his method for becoming “rejection-proof” when building new relationships with prospects. Key Takeaways: A little bit about Scott and his role at Beyond Insurance. How did Scott go from Sports Psychology to Insurance? What is learned helplessness? Scott shares his five-step risk management process. When it comes to risk management, it helps to think about the process in medical terms. If a doctor tries to treat a patient without ever talking to them, or laying out a proper diagnostic/treatment plan, that would be called malpractice! People like to tell others what they think they want to hear. How does Scott get around that to hear the truth? It’s important to conduct employee interviews and take those honest findings back to management. Active listening is critical to fully understand the true problem at hand. What do you do when customers only care about price? Scott breaks down how to showcase your value without budging on the price point through his PRICE acronym. We’re living in a world with huge risk uncertainty. We need to band together and educate as many risk professionals as possible. Knowledge is power! No matter our industry, we can add so much value as risk professionals. Do not underestimate your knowledge and skill set. Scott shares a time he had to overcome an adversity/challenge in his career. Scott had to take a hard look at his flaws and figure out how to use them as strengths. Scott shares how he becomes “rejection-proof” by setting up prospect/sales calls with the right frame of mind. You have an obligation to yourself and your community to assess the degree of relationship with the agent or broker, and do they put value on how you create value? What advice does Scott have for people who are newly coming into the industry? Mentioned in This Episode: Beyondinsurance.com Scott’s Bio Scott on LinkedIn

Christopher Holmes, co-founder of RiskVersity, brings over 15 years of risk management expertise to the forefront of the insurance industry. In this episode, Christopher shares his journey from being an intern at Arthur J. Gallagher & Co. to becoming the CEO of RiskVersity, a company dedicated to changing the insurance landscape by creating opportunities for minorities. He discusses the unique challenges and progress in diversity within the industry, his commitment to fostering an inclusive environment, and his vision for the future. Key Takeaways: A little bit about Chris and his role at RiskVersity. How did Chris come up with the name RiskVersity? How did Chris get into insurance? It certainly wasn’t on his vision board! Chris recently went through a physical transformation and shares some of his secrets to keeping fit. Chris’s motivation to stay healthy stems from his son as well as his father, whom he lost when he was 13. When Chris got his start as an intern at Arthur J. Gallagher & Co., what was that experience like? Chris didn’t want to make a bunch of money and just be miserable in his position. He needed joy and passion in whatever career field he was in. How did Chris transition to Wells Fargo? Chris was the Vice President of the Corporate Diversity board at Wells Fargo. Chris shares the type of conversations they were having back then. There’s been a lot of progress that’s been made in the last 15 years, and Chris educates his son on how much work and how far so many minorities have come. Chris gives an example that he heard about a lynching in 2002 near his hometown in South Carolina. There’s progress, but there’s still deep racism and we can’t forget that. Have things gotten better in the insurance industry when it comes to diversity and making it more friendly for future generations? It’s so hard to be yourself when you’re the only one in the room. You are very conscious about avoiding becoming a “beacon” of a certain stereotype. Chris is also a marriage counselor, what made him pursue this certification? If you really love your partner, you have to go to the gym to maintain a happy and healthy relationship. So many of us, though, don’t even know what types of weights to lift to achieve that. Chris talks about Legacy Investment Funds, an initiative that helps African Americans discover and pool their capital to reach better investment opportunities. Mentioned in This Episode: Riskversity.com Chris on LinkedIn

Jeff Gurtcheff is the Chief Claims Officer at CorVel and brings a unique blend of passion, collaboration, and extensive experience in worker’s compensation, liability, and property claims. In this episode, Jeff shares his insights on the evolving role of insurance adjusters, the importance of mentorship, and the art of reading policies and people. Jeff also discusses how his experiences in team sports have enriched his professional life in insurance. Key Takeaways: A little bit about Jeff and his role at CorVel. Jeff had no clue what an insurance adjuster did. He had to go to the library to look it up. Knowing what Jeff knows now, he shares what he’d do slightly differently before joining insurance. Prior to joining insurance, Jeff was a baseball player in college. Jeff feels so fortunate that he had great mentors during his diverse career in insurance. Although reading insurance policies is a big part of what an insurance adjuster does, the other side is the ability to read people. Through the lessons Jeff’s learned in baseball and team dynamics, it’s helped his career greatly in insurance and working with a wide range of people. Jeff has noticed common myths about the insurance industry are (thankfully) disappearing. In insurance, we really want to take care of our customers and the people we serve. How is Jeff thinking about AI and incorporating it into what he does today? Where can people go to learn more about AI? The world changes and so does technology. We shouldn’t be quick to discard something that’s up and coming. What kind of challenges or adversity has Jeff had to face, thus far? What advice would Jeff give to others looking to create a career in insurance? Jeff gives a shout-out to one of his mentors, Dave Kelly. What a wonderful and patient teacher! Mentioned in This Episode: Corvel.com Jeff on LinkedIn

Milton Stark is a seasoned professional with an impressive 52-year career spanning industrial, government, and commercial sectors. His expertise lies in a broad range of areas including management, operations, and safety. In this episode, Milton dives into his extensive career in nuclear energy and risk management, discussing the evolution of safety protocols since the 1970s and addressing public misconceptions, including the current concerns over tritium in drinking water. Key Takeaways: A little bit about Milton and his very extensive career in the nuclear energy space! How did Milton find his way through risk management? There’s almost no industry in the world that’s safer than nuclear power because it’s always on everyone’s top-of-mind. Milton had a great plan for his life, but as his grandmother used to say, “Life is what happens when you’re planning your life.” How has the approach to risk management changed in the nuclear space from when Milton started in the ’70s to now? Milton was born in ’47 and remembers a time when he and his classmates had to do nuclear war drills. He believes the nuclear industry could have done a better job in educating the public on its safety protocols. Milton shares a real-time example of how nuclear misinformation has caused panic and unnecessary evacuations. There are a lot of protests happening right now regarding tritium being mixed in drinking water. Milton explains the half-life of tritium and its true dangers. People forget that sunlight also has radiation. What’s one thing Milton wishes he’d learned sooner in his life? Mentioned in This Episode: Miltonstark.com Milton on LinkedIn

Richard Vinhais is the Chief Executive Officer at WAX, an insurance company that protects rare collectible items. Richard shares how you can insure half of a collectible item, what he looks forward to in the expansion of the business, and why it really takes an “insider” to truly understand the pain points collectors go through when it comes to insuring some of these precious items. Key Takeaways: A little bit about Richard and what he does for WAX. WAX is a much-needed service in the collector space because the everyday insurer doesn’t understand the true value of some of these unique collector items. Richard shares why some of these collectible items are so important for people like himself. How did Richard discover risk and insurance? Richard shares what it was like working at EY and why the experience was so diverse. A lot of times, Richard would work on a project for a few months before moving on to the next project. He loves the variety and being able to experience different industries during those 15 years. Did you know ticket stubs are very rare and collectible? Why did Richard take a chance and get into entrepreneurship? Richard wanted to push himself and try something new, exciting, and scary. How does Richard think about insurance within this collectible industry? Richard conducts focus groups to better understand what people truly care about. In Richard’s spare time, he likes creating art and giving it away to friends. What are some hot collectible items on the market right now? Mentioned in This Episode: Wax.insure Richard on LinkedIn

Sharon Fox is a Risk Management and Insurance Leader with more than 14 years of experience. Sharon got her foot in the door through Aon, a risk transfer solution for clients in the mining, power, and engineering sector before making her big jump into technology. In this episode, she describes why she made a conscious decision in getting her degree in insurance, as well as details her experiences as a woman in a very male-dominated field. Key Takeaways: A little bit about Sharon and her work career. Why did Sharon decide to get a major in risk management? Sharon has experienced a wide range of industries through the lens of insurance. How did she go from the mining sector into technology? How difficult is it to ‘make it’ in the mining industry? Sharon believes no woman wants to be hired for a job just to fill in some ‘female quota’. Good leaders need to be able to listen to diverse experiences and really listen to employees when they’re talking about mistreatment or prejudice, especially when they are the minority. Sharon shares her thoughts about mines who have notoriously bad reputations for mistreatment of workers. Sharon hates job interviews, so she decided to bridge connections no matter where she was so that she would never need to be ‘interviewed’ if she wanted a new position. Sharon shares her experiences of what she learned as a principal consultant once she left Aon. What does Trust Layer focus on and what do they do? Insurance still believes blockchain gets a bad rep. It’s important to educate people on the many positive uses it can do. What’s next for Sharon and her work in insurance? Mentioned in This Episode: Trustlayer.io Sharon on LinkedIn

James Martin is the Global Enterprise Director and Head of Brokers at AXA Group. Currently based in London and working remotely in his position, James shares how he’s learned to embrace and be open about failure, why you have to focus on the relationships of this industry, and the importance of giving back to causes you deeply care about. Key Takeaways: A little bit about James and his work career. What’s the transition from broker to carrier position been like? James encourages people to try different sides of their industry to see what they like or don’t like about the position. James is passionate about giving back and he talks about an important Children’s charity that he is a part of. Failures aren’t always failures. We should embrace the pitfalls because we quickly learn what didn’t work. There is nothing wrong with failure! James explains the art of underwriting and how it has to be a conversation, not just pure number crunches. James had the honor of meeting the Queen! He shares his story. What advice would James give his younger self? Mentioned in This Episode: James on LinkedIn Raysofsunshine.org.uk

Lori Seidenberg is a Director and Global Head of Infrastructure and Real Estate Insurance Risk Management for BlackRock, Inc. She has over 30 years of diversified experience in risk management and insurance. She also serves as a member of the board of directors at Spencer Educational Foundation, a project she is very passionate about. In this episode, your hosts and Lori sit down at the RIMS RISKWORLD conference in Atlanta to catch up and discuss what the future of the New York RIMS chapter looks like and Lori’s work with the younger generation at the Spencer Educational Foundation. Key Takeaways: We are reported “live” from RIMS RISKWORLD. It’s so nice to see everyone live and in person this year. The turnout is a lot greater than it was last year. Lori talks about her work and impact as a board member of the Spencer Educational Foundation. The new hires aren’t able to make deep connections within the organization because they simply haven’t been in the office. Lori has noticed that young professionals have grown up behind their computers, which means their in-person communication skills still have a bit of refining and improvement to go. RIMS is a volunteer society and Lori’s very proud of the Heart of RIMS Award that she won last year. As New York RIMS Chapter President, Lori gives a quick update on what’s happening in this chapter. Lori has noticed that the younger generation doesn’t always know what kinds of questions they should be asking or how to properly articulate them. It’s important to have new professionals feel comfortable enough to pull you aside and ask those messy questions. Staff budgets are being cut. Lori shares her predictions of what’s going to happen in the industry because of this. Lori understands that many insurance professionals are not good at selling their own unique value. Lori shares her final thoughts before she goes onto what trends she’s witnessing happen on the broker side of insurance. Mentioned in This Episode: RISKWORLD 2023 Lori on LinkedIn

Michael Kolodner is the Global Renewable Energy Leader at Marsh, where he leads an integrated team of more than 250 renewable energy specialists around the world. In this episode, he shares some exciting things that are happening within the renewable energy space, and why you have to assess risk differently in this industry. He also shares some stories of when he was living in a submarine while serving in the Navy. Key Takeaways: A little bit about Mike. What is renewable energy and what kind of risks does it have? Revenue models throughout the renewable energy space are a very diverse landscape that doesn’t fit a “one-size-fits-all” approach. Mike has joined Marsh three times. He explains why he had a shift in careers and the “gaps” in his Marsh career track. Fun fact: Mike is a fifth-generation broker! When Mike was in the Navy, he lived in a submarine. What was that experience like? What was the toughest part about being in a submarine for long periods? Mike shares the shift he had to make between working for the military vs. going into the civilian world. When Mike left Marsh to work for clients, what did he learn from the “outside world” that he was able to take back and incorporate back into Marsh? Risk management isn’t just about buying insurance. The biggest lesson Mike learned as an underwriter was how we think about the market: It’s very difficult and intermediaries tend to underestimate the complexities of this role. Nuclear energy is a very scary concept for a lot of people. There’s still a lot of distrust, but we need to lean into it if we want to make the environment a healthier place. Mike shares a bit of nuclear energy history and how the United States has been able to capitalize fully and become a powerful world leader because of it. What are some of Mike’s big goals right now within his role? Mike shares some exciting new things and objectives that are coming up at Marsh. Mentioned in This Episode: Marsh.com Mike on LinkedIn

Tyler Vaughan and Jasmine Klein join this episode to talk about what it’s like being young professionals in the risk and insurance industry. Tyler is a Business Analyst at Safelite Autoglass and Jasmine is an Assistant Vice President for the FINPRO department at Marsh. They share why they’re passionate about expanding the Global RIMS RRP Advisory Group and why it’s important to have a strong community of peers and like-minded professionals and they share their future dreams of where they’d like to grow into their roles. Key Takeaways: A little bit about Tyler and Jasmine. Why are Tyler and Jasmine so passionate about growing the RIMS RRP (Rising Risk Professional) network? After Tyler and Jasmine graduated college, they felt like there was a lack of community for their demographic to really network and grow within the risk and insurance industry. How did Tyler and Jasmine find themselves in insurance? What do Tyler and Jasmine look forward to the most when it comes to growing and expanding into their career? What's it like being an F45 Instructor? Jasmine shares her experience as an athletic trainer. How does RRP define its peer group and demographics? In insurance, you can get lost in the shuffle, so it’s important that you make an effort to connect with new people in your industry regularly. It’s on you to put yourself out there and build your network. There’s so much opportunity in this industry. You’re never going to be “stuck” in a boring place. How did Jasmine earn her insurance CPCU and ARM designations so quickly? What have been the biggest takeaways for both Tyler and Jasmine thus far in their careers? Mentioned in This Episode: Safelite.com Marsh.com Tyler on LinkedIn Jasmine on LinkedIn

Marianne Roth is the Chief Risk Officer at the Consumer Financial Protection Bureau (CFPB) and she is also the President of the Association for Federal Enterprise Risk Management (AFERM). In this episode, she explains how the government thinks and assesses risk on a national scale and how young professionals can get their foot in the door to make a difference within the government. Key Takeaways: A little bit about Marianna and her work at CFPB. How did Marianne discover risk management? As someone who once worked for TSA, Marianne has some wild stories! Someone once tried to sneak an alligator onto a plane. How does the government think about risk? Marianne shares how the TSA thought about risk and modified their security operations to better serve the people. What does it take to be a good risk manager at TSA? How does Marianna think about community and expanding her professional network? Marianna explains how you navigate different political parties and leadership objectives in her industry every 4 years. Marianna explains some of the strategies she’s incorporating to attract new talent. What’s next for Marianna? What advice would Marianna give her younger self? How is the federal government thinking about diversity and inclusion when it comes to the risk management space? Mentioned in This Episode: Consumerfinance.gov Marianne on LinkedIn

Carlos Dezayas is the Head of Risk Management at Kraft Heinz Company, a global food and beverage company. Carlos shares his unique experience in insurance and offers insight into what it means to manage risk on a global scale. He also shares the best ways young professionals can position themselves within the industry and shares his experience managing the intricate balance between insurance premiums and insurance risk. Key Takeaways: A little bit about Carlos and his work at Kraft Heinz. Why did Carlos decide to pick an out-of-state school to pursue risk management? There is so much opportunity in risk management and you don’t have to wait for management to get into a leadership role. It’s important to discern the main objective when it comes to risk management, is it to reduce insurance premiums or is it to reduce risk with a given budget? How does Carlos manage global risk? What makes a good partnership with an insurance broker? As someone who is the head of risk, what are some of the next steps in Carlos’s career? Communication is key in helping leadership understand what you want and your next steps. It’s important to be clear on your unique value proposition and what you bring to an organization. Where is the future of risk management headed? Carlos weighs in on his thoughts. The traditional insurance marketplace is slowly becoming outdated in its practices because it’s no longer meeting the average insurance buyer’s needs. Mentioned in This Episode: Kraftheinzcompany.com Carlos on LinkedIn

Bert Iams is the Senior Vice President of Government Contracting at Signal Mutual. As an underwriter, Bert is constantly fascinated by some of the contracts he’s had to assess risk and insurance coverage for. In this position, you never know what to expect and he shares insights on how he approaches his very diverse job in a systemized way. Find out how Bert insures some of the most dangerous jobs for our overseas contractors in this week’s episode. Key Takeaways: What is the DBA (Defense Base Act)? What type of risk does Bert analyze and cover? Since overseas government contracting covers a wide array of different fields and niches, how does Bert systemize this process and provide fair coverage? A little bit about Bert and how he discovered the insurance industry. There are about five other companies that are writing DBA. Who is making the decision on what types of coverage to purchase? How does Bert underwrite for government contracts that have top-secret clearance? Bert loves this space because he gets to underwrite really interesting things and job positions every single day. Today’s students have a much better understanding of risk management than Bert did when he first entered the workforce. What does Bert like the most about his position? What makes a good broker in this space? Bert offers some advice for someone who is interested in joining the insurance field. What did Bert wish he’d learned sooner in his career? When you put effort into educating your team about the importance of safety, it really elevates the entire company experience. Mentioned in This Episode: Signalmutual.com Robert on LinkedIn

The admin of the Instagram profile, The Hard Market, gets interviewed on this week’s show. The Hard Market is a safe place for Insurance Professionals where there are memes, laughs, and very real moments that every insurance professional can relate to on the social media profile. In this episode, the anonymous admin lays out some hard truths about the job market today, what Millennials really think, and how our society’s coping mechanisms have been normalized and part of the status quo. Key Takeaways: ● We have multiple generations working under one insurance roof. ● The younger generation is demanding way more. They know their loyalty doesn’t get rewarded. ● The admin has been mentored very well by Boomers. They’re not always part of the problem. ● Despite being in the industry for the last 15 years, the admin still feels like there’s so much more to go and is a bit frustrated by the state of it all. ● The bulk of the money is made when you stay at one company for a while. ● What should you do during pay review time? The admin shares their thoughts. ● The admin was very surprised at first at how people found the content so relatable. ● What are the hallmarks of a good risk manager? ● How did the admin double their Instagram account? The admin talks about the real things. ● The admin wants to create an anonymous survey that helps insurance professionals really understand what they’re worth in the marketplace. ● If you don’t push for a raise, you will make $15‒20K less than you should. ● What is the admin’s all-time favorite meme? ● Despite the admin being in an entire suit of armor on this interview, your hosts encourage them to do public speaking. ● The admin has been bullied by companies and other insurance professionals. It’s a tough world out there. Mentioned in This Episode: The Hard Market on Instagram