Making Industry Risks into Opportunities with Dale Porfilio

02/12/25 • 28 min

In2Leadership keynote speaker Dale Porfilio, FCAS, MAAA, is the Chief Insurance Officer for the Insurance Information Institute (Triple-I) and President of the Insurance Research Council (IRC). In these roles, he leads the research and education activities of both organizations, working closely with Triple-I and IRC subject-matter experts to develop data-driven industry insights and analyses. Dale previously worked at Genworth Financial, Kemper, and Allstate for a total of 29 years. Dale is a Fellow of the Casualty Actuarial Society (FCAS) and Member of the American Academy of Actuaries (MAAA). In this episode of In the Know, Chris Hampshire and Dale discuss climate change, legal system abuse, and some of the topics that Dale will be addressing as the keynote speaker at April’s In2Leadership conference.

Key Takeaways

Dale grew up knowing that insurance was always a career option.
Actuarial sciences allowed Dale to apply his strengths to insurance organizations.
The 2025 insurance industry is in a dynamic state.
The outstanding response of the insurance industry to climate change.
Risk-based pricing is a critical consideration for carriers’ actuarial goals.
The importance of allowing market competition and less regulatory restrictions.
The name “legal system abuse” does matter.
Developments in the legal system abuse sphere.
The impact of third-party litigation funding on the commercial sector.
Strategies for improving the practice of third-party litigation funding.
Dale’s pragmatic take on the five-year future of the insurance industry.
Embracing technology in ways that are helpful to the future of insurance.

Quotes

“For me, I always knew that insurance was an option.”
“The 2025 insurance industry is in quite a dynamic state.”
“Allowing market competition and less regulatory restrictions is helpful overall.”
“How can we make the practice of third-party litigation funding as healthy as possible?”
“Insurance companies are here to make people whole. We don’t always need to have attorneys involved at the level they are today.”

Key Takeaways

Dale grew up knowing that insurance was always a career option.
Actuarial sciences allowed Dale to apply his strengths to insurance organizations.
The 2025 insurance industry is in a dynamic state.
The outstanding response of the insurance industry to climate change.
Risk-based pricing is a critical consideration for carriers’ actuarial goals.
The importance of allowing market competition and less regulatory restrictions.
The name “legal system abuse” does matter.
Developments in the legal system abuse sphere.
The impact of third-party litigation funding on the commercial sector.
Strategies for improving the practice of third-party litigation funding.
Dale’s pragmatic take on the five-year future of the insurance industry.
Embracing technology in ways that are helpful to the future of insurance.

Quotes

“For me, I always knew that insurance was an option.”
“The 2025 insurance industry is in quite a dynamic state.”
“Allowing market competition and less regulatory restrictions is helpful overall.”
“How can we make the practice of third-party litigation funding as healthy as possible?”
“Insurance companies are here to make people whole. We don’t always need to have attorneys involved at the level they are today.”

Previous Episode

Developing Niche Products for Healthcare Providers with Maia Jarvis

As Vice President of Operations at BLISCare, Maia Jarvis provides executive leadership for the company’s MGU activities, spearheads product development, and oversees the ever-evolving BLISCare insurance management platform. With over 10 years of experience in the insurance industry (focused on creating innovative, niche solutions) and more than two decades of leadership under her belt, Maia has mastered the art of problem-solving and resource-wrangling. A key player in the launch of the BLISCare captive, Maia now serves on its Board of Directors. Maia earned her BA from the University of Portland and her MBA in IT Management from Western Governors University. She holds CPCU and ARe designations along with several Salesforce certifications; she is working on her ACI (Associate in Captive Insurance) certification. In this episode of In the Know, Chris Hampshire and Maia explore the niche products offered at BLISCare, how this captive was formed, and the many exciting careers that can be found in the insurance industry.

Key Takeaways

Maia’s insurance career started, like so many, somewhat unintentionally.
The offerings at BLISCare began with a problem that needed to be solved.
Lessons learned as this niche bariatric program launched.
Marketing this targeted product started with word of mouth and has expanded with the help of medical provider referrals.
The benefits behind the decision to create this captive product.
Maia’s journey from executive assistant to establishing a captive product with alternative risk financing was successful, in part, because of her mentors.
An overview of the benefits of earning CPCU, ARE, and ACI certifications.
Maia’s IT Management MBA helps her understand how to cultivate solutions in the insurance industry.
The exciting role of IT in navigating industry pain points to find solutions.
Maia’s message to anyone who is considering an insurance career.
A promising look at the five-year future of the insurance industry.
Maia’s motivating advice to her early-career self.

Next Episode

Product Strategy in the Ever-Changing Insurance Environment with Marisol Schulte

Marisol Schulte, CPCU, AIC, is a Senior Consultant of Personal Lines Strategic Planning and Insurance at TransUnion. Marisol supports in developing and executing TransUnion’s product strategy for the personal lines property and casualty markets. She has over 18 years of property and casualty insurance experience, beginning in claims, with additional positions in R&D and Product Management for State Farm, CSAA, and Farmers. Schulte attained her CPCU in 2017 and graduated cum laude from California State Polytechnic University, Pomona with a bachelor’s and master’s degree in Mathematics. In this episode of In the Know, Chris Hampshire and Marisol examine the current conditions in Southern California in the wake of the January 2025 wildfires and discuss her journey in the insurance industry.

Key Takeaways

Marisol’s humble upbringing underscored the importance of education.
From claim rep to actuarial work to the vendor side, Marisol has found there is always something new to learn in the insurance industry.
You don’t need to have a family member in the industry to succeed in your insurance career.
The importance of networking in a successful career.
The impact of the Southern California wildfires on insurance ratings and carrier approvals.
Increasing insurance premiums are creating unique challenges for vendors.
Long-term solutions for insurance in California.
The pros and cons of moving from claims to strategy.
CPCU courses provide insights into every aspect of the insurance industry.
Marisol’s decision to move from the carrier to the vendor side.
Insurtech aims to address the unicorns of the technology industry.
Marisol’s decision to earn her CPCU designation stemmed from the example of her mentors.
Insights into what’s coming next in the insurance industry, the market, and the economy as a whole.
A five-year look at the future role of insurance in the constantly changing environment.
Strategies for fostering a more welcoming insurance industry.
Marisol’s bold advice to her early career self.

Quotes

“If you are willing to network, there will be someone willing to help.”
“Beyond just insurance, there has to be something more that someone comes up with that helps with the new climate that we’re in.”
“Going through the CPCU courses allowed me to see what else is out there.”
“In CPCU courses, I was having deeper and more meaningful conversations with different folks within the insurance industry.”
“Everything is changing, and we have to keep abreast on how we can provide solutions in this changing environment.”