Your heart is racing and your palms are clammy. You take deep breaths and resist the urge to wipe your hands on your stain-free suit. It’s interview day, and you’re stressed. It’s almost impossible to avoid—nerves and interviews go hand-in-hand, but going in armed with these helpful tips could save your suit and help you […]
Rising Insurance Star Executives, LLC, also known as R.I.S.E., announced today its new Advisory Board members for 2019-2020. “I’m excited to be part of an organization dedicated to help grow young professionals in the insurance industry. There was nothing like this when I started out and I know RISE will make gaining access to the […]
Deborah Saunders Senior Director, Claims Management Comcast NBCUniversal. Deborah Saunders is Senior Director, Claims Management for Comcast NBCUniversal. She is responsible for managing all lines of Comcast and NBCU’s claims programs, including Workers’ Compensation, Auto Liability, General Liability, Employment Practices, Property and Media Professional E&O. Prior to joining Comcast in 1998, Deborah was the Workers’ […]
Stacey Jurado Claims Casualty Manager Atlas Financial Holdings, Inc. Stacey spent time with RISE founder, Amy to discuss her daily routine along with some advice for the new insurance professionals entering this space. What is your morning regimen? I get up at a quarter to 5 am, and my regimen is: coffee, shower, and play […]
Gracemarie Mende Claims Manager Arch Reinsurance Company While providing some insight about her day to RISE Director, Katerina, Gracemarie states, “The best way to find productivity in my day is to make a to-do list of even the littlest things.” We spoke beyond her day and more in depth about the positives of pursuing a […]
Regina Cedeño Resolution Lead Blackboard Insurance Regina C. Cedeño, MBA, CLMP is a Resolution Technical Lead at Blackboard Insurance Company, a subsidiary of AIG. Ms. Cedeño joined Blackboard Insurance Company with over 13 years of insurance experience in the areas of Financial Lines including Errors & Omissions, Professional Liability, General Liability including Automobile, Construction, Construction […]
Adena Edwards Assistant Vice President Environmental Claims Starr Adjustment Services, Inc. Ms. Edwards is based in New York and serves as an Assistant Vice President overseeing Environmental Claims for Starr Adjustment Services, Inc., a member of Starr Companies. Ms. Edwards joined Starr in January 2015. Ms. Edwards is an attorney licensed to practice law in […]
New Job – New You in 2018! Give Yourself a Promotion and Raise by: Heidy De La Puente One more year and you’re feeling that you have the potential for more but haven’t taken the plunge yet. What is holding you back? Is it that you feel that you need more skills? Don’t have the […]
Last Friday, Jane Bolin taught us How to Get Things Done. While we had over 50 people tuned in, if you missed it, here are some of our top takeaways. In a world when 98% of employees are impacted by stress and 97% of employees struggle with work-life balance, changing how we manage our time […]
Author: Kevin Hilyard, RISE Advisory Board
My career has spanned several decades. Through the years I’ve watched the Property and Casualty(P&C) industry change significantly. It could be argued that the Claims function has undergone the most transformation within the insurance industry. Claims has evolved from what was once a relatively minor component in the insurance equation to a place of critical importance for most carriers. As price has become a bigger consideration in the consumer’s prioritization of purchase preferences, Claims is now viewed as a key differentiator for those companies that choose not to compete solely on price. For a carrier that competes on value, market differentiation is paramount as a means to maintain market relevance. Therefore, the Claims department is front and center in a value proposition that relies more than ever before on a company’s perceived ability to deliver superior customer service while managing cost and mitigating loss. This phenomenon has expanded opportunity and improved compensation for Claims professionals.
When I speak of Claims, I’m including associated functional areas such as SIU and Legal. As these Claims functions earned greater significance over the years, the various roles within Claims went through an evolution. Claims went from an occupation to a profession. I’d offer that much more is required of a Claims professional today than in the past. There’s more for a Claims professional to master today compared to my earliest days. In addition to all of the traditional technical Claim knowledge that’s required, Claims professionals today must be much more technologically savvy and they must hone their interpersonal skills to such an extent that they create delightful customer experiences. Today’s Claims professionals are given greater responsibility and more authority to gain efficiency and enable better customer solutions. Again, today’s Claim professional’s work environment and compensation is a reflection of a higher expectation.
Along the way the Claims community has become more diverse. This isn’t just a reflection of a changing demographic. Companies have actively and deliberately sought to become more diverse and inclusive as a strategic business imperative. In doing so, a company expands its talent pool, broadens its perspective, and relates better to all of today’s consumers. A crucial element of diversity involves generational differences. This is brought on by the swift pace at which our more experienced Claims professionals are preparing and/or choosing to retire. There’s an emerging race to attract new talent and transfer knowledge.
As Millennials enter the Claims profession, enlightened organizations are adapting their work environment to accommodate young professionals. Flexible work schedules, working remotely, relaxed dress codes, focusing on fitness, enabling community outreach, etc. are becoming common place. Business methods are also changing with younger associates in mind. Claims professionals today are given a voice in the things that affect their job. This was unheard of when I entered the workforce. Robust feedback loops are being installed to ensure that expectations are understood and that associates are kept informed. At the same time, associates are now encouraged to provide their leaders with feedback in reverse. Training is changing rapidly too. Technology has begun to take the place of the classroom. Education has become more just in time and more virtual. Knowledge Management systems are becoming the norm. Machine learning and artificial intelligence are responding to the knowledge transfer imperative. Robotics will assume a Claims professional’s most tedious activity and release associates to focus on the higher return and more complex elements of their role.
This is a time of excitement and energy within the Claims industry. The role of the Claims associate has never been more sophisticated or more professionally rewarding and the opportunity for career growth will only increase over the next decade. This is the best of times for the Claims profession.
