Sharon Fox, Risk Management and Insurance Leader with more than 14 years of experience, talks about her transition from mining to technology, the importance of diverse experiences in leadership, and the challenges of implementing blockchain in insurance. She also discusses the impact of industries like mining on local communities and the need for digitization in the insurance industry. Throughout the podcast, Sharon shares personal anecdotes and valuable advice for young professionals.

James Martin, Global Enterprise Director and Head of Brokers at AXA Group, shares insights on embracing failure, trying different perspectives within the industry, and the importance of giving back. He also discusses the art of underwriting, his encounter with the Queen, and advice for his younger self.

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

Matt Sutika is the Chief Insurance Officer at Obie, an insurtech company that focuses on quick insurance quotes for multifamily rentals. Matt talks about how more professionals are entering the insurance industry with more intentionality than ever before, what it means to brokers when there are more insurance purchasing options available online, and why insurance tends to be a more stable industry than any other industry out there during recessions and bear markets.   Key Takeaways: A little bit about Matt and the type of work he does. Where does the name Obie come from? You have to meet people where they’re at and then leverage technology to service them to bigger heights. Matt shares his thoughts on being around the “gold rush” of VC capital when they were heavily investing in insurtech a few years ago. Matt talks about his biggest hero; his father. For the longest time, insurance used to be a fallback for so many people, but this is not the case today. The great thing about insurance is that it always renews and people have to have it. You can build a lot in a bear market in insurance. Market uncertainty doesn’t seem to affect insurance as badly compared to other industries. Will the need for insurance brokers go extinct as more people purchase online? A lot of brokers were limited by their own state. This is no longer the case. What percentage of Matt’s business involves Airbnb rentals? What are some best practices to insure a rental property? A lot of businesses unfortunately have to make that tough decision between what they can cover vs. what they can afford. Matt doesn’t believe in insurance scare tactics. It’s about sitting down and asking honest questions. Matt isn’t the best when it comes to reading full-fledged books, but he loves the Blinkist app.   Mentioned in This Episode: Obieinsurance.com Matt on LinkedIn