The Voices of Risk Management

The Insider Details of Risk & Insurance within the Fusion Industry with Sarah Sherman

Feb 23, 2024

Join the insightful discussion with Sarah Sherman as she delves into risk management in the fusion industry. From client collaboration to industry knowledge requirements, she highlights the value of clear communication and honesty. Discover Sarah's journey, her pivotal role in The Wattles Fellowship, and her unique position at Commonwealth Fusion Systems.

38:32

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Quick takeaways

Building trust through transparency is key in risk management relationships.

Industry-specific knowledge is crucial for accurately managing risks in the fusion industry.

Deep dives

Sarah Sherman's Role at NFP and Commonwealth Fusion

Sarah Sherman, a managing director at NFP, primarily focuses on clients in the real estate space. Additionally, she serves as the outsourced risk manager for Commonwealth Fusion, a company developing the first commercial Fusion device, supported by notable backers like Bill Gates. NFP offers comprehensive insurance services, including health, benefits, and PNC financial lines.

Introduction

5min

Navigating the Insurance Industry Pathways

8min

Navigating Professional Growth and Risk Management in the Fusion Industry

19min

The Significance of Face-to-Face Communication and Honesty in Business

1min

Building Trust in Work Relationships and the Emergence of Fusion Industry

5min

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?