Claiming Resilience in the Insurance Industry with Kristi Fox

05/29/24 • 28 min

Kristine A. Fox, CPCU, AIC-M, ARM, AIC, API, AINS, SCLA-Gold, is the Midwest regional claims manager for the Property Americas Division of Sedgwick, where she organizes deployment of field resources and oversees client accounts. Fox has over 20 years of experience in property-casualty claims, ranging from homeowners and auto losses to general liability, and has also supervised commercial trucking liability claims. She is a past president of the Omaha CPCU Society Chapter. In this episode of the In The Know podcast, Chris Hampshire and Kristi discuss all things claims, from the onset of Kristi’s career to the future of claims, how she has pivoted to become an engaging resilience speaker in the industry, and how to more effectively attract talent to the claims space.

Key Takeaways

A help-wanted ad evolved into Kristi’s 20-plus-year career in insurance.
The helpful aspects of the insurance industry that first appealed to Kristi.
Kristi’s message of caution and encouragement for anyone who is considering a career in claims.
The evolution of training tactics in the industry.
Offerings that currently have the biggest impact in the claims space.
Major technology initiatives that are enhancing the claims experience.
Defining resilience as a critical component of the insurance industry.
Claims handling and adjuster expectations as they have evolved over the years.
The impact of involvement in the CPCU Society on Kristi’s career.
A five-year look at the future of the insurance industry.
Kristi’s long-view advice to her early career self.

Quotes

“What a lot of people don’t think about with insurance is that we are in a helping world.”
“I know that I’m having a positive impact on people and helping them through something really difficult.”
“There is a place for technology, and the more we can utilize it in the right ways, we’ll become more efficient, but there is still the human component that is going to be needed.”
“I’ve really appreciated the consistent focus on growing, developing, and learning as our careers progressed.”
“The human component is still going to be essential in the future of the industry.”

Key Takeaways

A help-wanted ad evolved into Kristi’s 20-plus-year career in insurance.
The helpful aspects of the insurance industry that first appealed to Kristi.
Kristi’s message of caution and encouragement for anyone who is considering a career in claims.
The evolution of training tactics in the industry.
Offerings that currently have the biggest impact in the claims space.
Major technology initiatives that are enhancing the claims experience.
Defining resilience as a critical component of the insurance industry.
Claims handling and adjuster expectations as they have evolved over the years.
The impact of involvement in the CPCU Society on Kristi’s career.
A five-year look at the future of the insurance industry.
Kristi’s long-view advice to her early career self.

Quotes

“What a lot of people don’t think about with insurance is that we are in a helping world.”
“I know that I’m having a positive impact on people and helping them through something really difficult.”
“There is a place for technology, and the more we can utilize it in the right ways, we’ll become more efficient, but there is still the human component that is going to be needed.”
“I’ve really appreciated the consistent focus on growing, developing, and learning as our careers progressed.”
“The human component is still going to be essential in the future of the industry.”

Previous Episode

Litigative Problem-Solving in the Insurance Industry with Matthew Swafford

Matt Swafford is Senior Litigation Counsel at Shelter Insurance Companies, where he manages litigation across the United States for Shelter and affiliated companies and provides general counsel to Shelter’s claims branches. He practiced law in Kentucky for over ten years with a focus on insurance, business, and employment litigation, clerked for Justice Will T. Scott at the Supreme Court of Kentucky, and was a Staff Attorney for Jefferson County Circuit Court Judge Barry Willett. At Northern Kentucky University – Salmon P. Chase College of Law, Matt graduated in the top ten percent of his class; was a member of the NKU Law Review’s Editorial Board; and interned for William O. Bertelsman, Federal District Court, Eastern District of Kentucky, and the United States Attorney’s Office for the Southern District of Ohio. Matt is licensed to practice in both Kentucky and Ohio (inactive), holds the Institutes’ Chartered Property Casualty Underwriting CPCU designation, and is pursuing a Master’s Degree in Insurance Management at Columbia University in the City of New York. In this episode of the In The Know podcast, Chris Hampshire and Matt consider the pros and cons of litigative problem-solving in the insurance industry, how it differs from the law firm environment, and what the future of the industry may look like from a legal perspective.

Key Takeaways

Matt recalls how much he had to learn about insurance in the early days of his career.
Transitioning from a law firm to in-house counsel at an insurance carrier.
Appealing offerings from the Columbia Master’s Degree in Insurance Management.
The self-serving reason behind and benefits of Matt’s CPCU designation.
Networking opportunities that have resulted from Matt’s CPCU designation.
Key differences between a carrier and a law firm environment.
Hallmarks of an effective outside counsel-carrier relationship.
What Matt wishes other departments knew about the carrier legal group.
Best practices to mitigate the impact of social inflation.
Key takeaways from Matt’s time working outside a traditional law firm.
Addressing the talent gap in the insurance industry.
A five-year look at the future of the industry.
Matt’s advice to his early career self.

Quotes

“The thing I learned when I first started practicing [insurance defense] was how very little I knew about insurance.”
“I really wanted a business background and felt like I needed it to move forward in an in-house role.”
“Communication is number one. You want to keep open lines of communication and communicate often.”
“I can see how these kinds of cases play out and still not be the one who is carrying the pressure and the weight of trying to reach a successful resolve.”
“Sometimes law firms can be a very competitive, dog-eat-dog environment, and it’s just not like that in-house.”
“Learning how technology works in the insurance industry is going to be absolutely critical moving forward.”

Next Episode

Find Your Personal Power with the Success Doctor, Shirley Davis

Dr. Shirley Davis is the President and CEO of SDS Global Enterprises, Inc., and will be the closing keynote speaker at the In2Risk Conference this fall. Dr. Davis brings a unique background as a seasoned HR and Diversity & Inclusion global thought leader, a senior executive, a certified leadership coach, and a former Chief Diversity & Inclusion Officer for several major Fortune 100 companies. She has worked in more than 30 countries on five continents and delivers more than 80 speeches a year. She is the former Global Head of Diversity, Inclusion, and Workplace Strategies for the Society for Human Resource Management (SHRM) and earned the highest designation in the speaking industry as a Certified Speaking Professional, bestowed by the National Speakers Association. She holds a Bachelor’s in Pre-Law, a Master’s in HR Management, a Ph.D. in Business and Organization Management, and is a former Ms. America United States. She is also a featured author for LinkedIn Learning’s online course, entitled “Inclusive Leadership.”

In this episode of the In The Know podcast, Chris Hampshire and Dr. Davis explore innovative strategies for attracting the best talent, developing future leaders, and enhancing inclusiveness and involvement in the insurance industry.

Key Takeaways

A lifelong learner, Dr. Davis started in banking and has worked in a wide variety of industries.
As a woman of color, Dr. Davis has earned her place at the table as a credible voice and now shares her empowering strategies with others.
Bringing your best self to work starts with working at an organization that values great talent.
Developing a meaningful life starts with the internal work of finding your personal power.
The power of analyzing the “what if” questions that plague all of us.
Dr. Davis’s advice on the best way to attract new talent to the insurance industry.
Developing talent and clearly defining the career path starts with closing the leadership gap.
Best practices to enhance inclusiveness and encourage involvement in insurance.
Tactics for effectively messaging the value of the insurance industry from a humanitarian perspective.
Dr. Davis shares her journey from the corporate sector into her own independent consulting business.
The importance of surrounding yourself with people who are going to push you into your destiny.
The writing process for Dr. Davis started with her successful speaking endeavors.
A five-year look at the future of the insurance industry and the demand for entrepreneurship.
Dr. Davis reflects on the risk-taking approach she wishes she would have taken in her career.

Quotes

“It has certainly been a journey to get a seat at the table, becoming that person that is heard, seen, and perceived as credible.”
“[Bringing your best self to work] starts with working at an organization that really does value great talent.”
“In order to get a seat at the table, I’ve got to do some things for myself first.”
“Every one of us wants meaning and significance. Every one of us wants to feel like we are being fulfilled and living our best life.”
“Understanding what this next generation of talent needs and what their expectations are and understanding what they are asking for is very, very important.”
“Relationships are the new currency. You’ve got to get around people who are not afraid of your BHAG.”
“We want to hear from people who are going to push us into our destiny.”