How did you first learn about risk management?
While I was still working in the insurance industry, I learned that a colleague had left her job to take a risk management position in the food and beverage industry. I remember thinking that it sounded like a real challenge - trying to manage something that is real, but so hard to quantify in advance. Plus, how would justify taking steps to mitigate risk when you cannot place a real value on losses that haven't happened?
What motivated you to leave the insurance business and take a position in risk management?
By the time an opening came available, I had worked for a few insurance companies. I was becoming a bit frustrated with the process. All insurers have a similar goal - to collect enough premium to cover loss costs, business expenses, and have some left over to distribute to shareholders and keep in reserve for unexpected high-cost losses. Despite the different ways they went about managing the company, they all wanted more premium and complained that legislation made their goals difficult to achieve.
Read more of this interview.