From: Captive International

New CICA chair Nick Hentges talks to Captive International about the need to recruit talent to the captive insurance industry and his plans for the year ahead.

Recruiting the talent of tomorrow might be the way to deal with the issues facing the captive insurance industry today, said Nick Hentges, chief executive of Captive Resources and the recently announced chair of the Captive Insurance Companies Association (CICA).

The fact is our industry needs fresh talent, so we must educate and inform young people about our industry, and CICA is leading the charge on that in the captive insurance space”

Nick Hentges, Captive Resources & CICA Board of Directors

Talking to Captive International Hentges said that the insurance industry, of which captives are a niche part, is “ageing out” as managers and senior executives leave.

“Our industry is not facing the great resignation as much as the great retirement,” said Hentges. “The captives space is an interesting industry to be a part of, but unfortunately we have not delivered that message to young professionals very well. If you talk to college students today and ask: ‘What do you think about the insurance industry?’ they would probably answer: ‘It’s old, stodgy, boring, and not interesting at all’.”

Hentges emphasised that insurance is an exciting industry, there are very interesting things going on especially in captives, and that the industry must do a better job of getting the message out.

He does three or four talks on college campuses each year and his hope is that when he spends some time with students, they will feel his passion and be more open to learning about the opportunities out there for young people.