As NEXTGen Committee Chair, Lakhanpal brings input and perspectives from rising captive industry professionals to CICA Board.

MINNEAPOLIS ─ Dec. 22, 2021 ─ Prabal Lakhanpal, MBA, ACI, vice president, Spring Consulting Group, has been appointed to serve on the Captive Insurance Companies Association (CICA) Board of Directors. Lakhanpal, who chairs CICA’s NEXTGen Young and New Professional’s Committee, was appointed to a one-year term.

“The captive industry is growing and changing rapidly. As a result, what the industry needs and what today’s young professionals want is evolving. It’s important for CICA to hear the perspectives of our young professionals because they are our future,” CICA President Dan Towle said.

“Having the NEXTGen Chair on the Board has helped us to make sure we are incorporating strategies that support career development and are appealing to young professionals when we are creating conference content and other programs,” CICA Board Chair Lance Abbott, CEO, BevCap Management, said.

Lakhanpal has worked in the captive industry since 2015 and works on strategic and innovative alternate funding initiatives related to employee benefits and P&C programs. Prior to joining Spring, he worked in various finance and operational roles across the globe. Lakhanpal says he eagerly welcomes this new opportunity. “I am thrilled to be joining the CICA Board and to work with CICA and its stakeholders to help advance the captive industry. I am grateful for the opportunity and appreciative of CICA’s commitment to developing the next generation of captive professionals and leaders,” he added.

Lakhanpal’s term will officially begin with the March 2022 board meeting.