The Voices of Risk Management

Bridging Gaps within Risk Management with Cheryl Reecher

Aug 23, 2024

Cheryl Reecher, the Vice President of Business Development at Cotton Holdings Inc., boasts over two decades in the insurance industry. She shares her fascinating journey from broker to risk manager, highlighting the crucial role of communication in bridging gaps in the sector. Cheryl discusses the vital services of restoration companies and how they assess risks and fees post-property damage. She emphasizes the importance of personal relationships and proactive engagement in fostering effective risk management.

28:49

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Episode guests

Cheryl Reecher

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Episode notes

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Quick takeaways

Cheryl Reecher's career progression highlights the importance of adaptability and continuous learning in the evolving risk management landscape.

Effective communication and proactive networking are essential in bridging gaps between underwriters, brokers, and risk managers in the insurance industry.

Deep dives

The Role of Restoration Companies in Risk Management

Restoration companies play a crucial role in helping businesses recover from property losses caused by disasters such as floods, fires, and hurricanes. They provide services that include remediation and rebuilding efforts, ensuring that clients can return to normal operations as quickly as possible. These companies operate on a 'pay as you go' model, meaning services are only charged when needed, which contrasts with traditional insurance models where costs are pre-paid. By maintaining proactive communication with clients before disasters strike, these companies can offer timely assistance based on monitored weather-related events.

Intro

2min

Understanding Restoration Services and Risk Management

5min

Navigating Risk Management and Career Transitions

2min

Navigating Risk Management: A Career Journey

17min

Challenges and Opportunities in the Insurance Industry

3min

Cheryl Reecher is the Vice President of Business Development at Cotton Holdings Inc. With a career spanning over two decades, across various high-profile roles in the insurance industry, Cheryl brings a rich wealth of experience from director of risk management to insurance broker, and now as a business developer. In this episode, Cheryl shares her journey from discovering insurance to mastering the intricacies of each major insurance role. Learn how Cheryl’s diverse experiences have enabled her to effectively bridge the gap between underwriters, brokers, and risk managers and how simple communication skills can go a long way in this field.

Key Takeaways:

A little bit about Cheryl and her role at Cotton Holdings Inc.
What does a restoration company do?
How does a restoration company gauge risk and calculate appropriate fees?
How did Cheryl discover insurance?
What interested Cheryl about the broker side of risk management?
Shoutout to all the brokers out there. It is probably one of the hardest jobs in insurance.
After learning about the broker side, Cheryl moved to the carrier side of the insurance business. She shares some of her key learnings from that experience.
Through these different role transitions that Cheryl underwent, she ended up having an easier time bridging the gap between underwriter, broker, and risk manager.
Sometimes the best solution is just to sit everyone down and talk it out.
What surprised Cheryl the most about being in a carrier role?
Sometimes being the only woman in the room, Cheryl shares some advice for the younger generation.
What other advice would Cheryl give someone up and coming in their career?