From: Captive International
An online panel hosted by Captive International involving some of our FORTY Under 40 judges underscored the urgent imperative to infuse the captive insurance industry with fresh, young talent.
The captive insurance industry is at a crossroads, facing the dual challenge of an ageing workforce and the need to attract young talent.
That was the message from an online panel hosted by Captive International involving a group of judges involved in selecting the final 40 young executives in this year’s FORTY Under 40 publication.
Phil Giles, chief growth officer for accident and health at Skyward Specialty Insurance, acknowledged the strides the industry has made but noted more can be done. “The captive industry has been one of the most dynamic and emerging segments of the commercial insurance world for many years,” he said, before warning that captive industries have traditionally struggled to attract young professionals compared to other segments of the financial services world. However he added that partnerships with universities and increased internship programmes have started to make a difference.
Anne Marie Towle, global captive solutions leader at Hylant, echoed Giles’ sentiment. “There’s never enough in whatever we do, but I certainly feel as if the last five to ten years have seen a greater outreach,” she said. Towle has been a driving force behind initiatives such as Amplify Women and NEXTGen for CICA, aimed at broadening access and awareness about captive insurance careers. “It’s imperative for us to continue sending the message and to attract and develop young talent,” she added. “It’s about spending the time to mentor and educate them on the benefits and diverse career paths the industry offers.”
