In recent years, insurance industry stakeholders, including big insurers and brokerages, have invested more efforts and resources into establishing mentorship programs. Some industry leaders see these efforts as key to solving the industry’s much talked about recruitment and talent issues.
One novelty at the Sydney event this year is an interactive Q&A session where delegates can ask a panel pressing questions about their own personal careers. Julie Morgan (pictured) is one of the panellists for “Off the record: Career advice from insurance trailblazers.” Morgan is head of claims in Australia for the global insurer AXA XL.
Insurance Business asked her for some on-the-record career advice. “Progressing your career is a huge topic,” she said. “So many factors can impact a critical personal goal.”
However, Morgan said, during her career, she has found two things that stand out and really help. “First, seeking out the right role models and mentors, which are different and change at each stage of your career, with a focus on always building renewing your supporter and sponsor network during your progression,” she said.
Secondly, Morgan suggested that insurance professionals actively risk manage their own careers and ask questions that will help them improve their prospects. “Seek feedback that is going to inform how confident and impressive your current performance is so that you do actively make corrections in how you engage with those influencing your career,” she said.
The AXA XL leader said the industry is always looking for driven, passionate people “who get the job done. You will be very happily surprised by the support and guidance that gets retuned to you by leadership and experienced professionals if you are eager to learn and develop on what will progress your career and meet the needs of the business,” she said.
“Mentorship programs are one of many levers that a business can use to help lift our female talent,” said Sydney-based Claudio Saita, the firm’s head of Australia and Pacific, at the time of the launch.
This year’s Summit also features a mentorship speed networking event.
One of Morgan’s co-panellists, Ricarda Simon, is also a very strong supporter of mentorships. Simon is a senior partner with global insurance recruitment firm, Eliot Partnership. Her work includes talent advisory projects. “One of the most effective steps the insurance industry and its stakeholders can take to address the growing skills gap is to invest in structured, cross-generational talent development that combines mentorship with modern capability building,” said Simon in a recent IB interview.
Simon said the industry faces “a dual challenge”: The increasing numbers of retiring experienced professionals coupled with a rising demand for digital, analytical and customer-focused skills.
The Summit’s interactive career advice session is expected to cover:
The session will be moderated by Evelyn Chow, head of in-force management for APAC, P&C Reinsurance at Swiss Re. Aside from Morgan and Simon, the other panellists are Lina Kedziora, AIG’s chief actuary for Australia and New Zealand and Kate Middleton, head of commercial claims for ARC Projects.
Other events on the day will tackle some of the big current challenges facing the insurance industry and brokers.
“Thriving in the AI Era – Skills, Solutions, and Mindsets” will look at how artificial intelligence (AI) is reshaping the industry, what insurers are doing and how they can manage the changes.
A “fireside chat” will provide insurance leaders with strategies to deal with some of the likely industry obstacles during the next decade, including global economic ups and downs, inflation, interest rates and market volatility.
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