Welcoming all voices

At the very heart of the insurance industry is risk transfer: our ability to harness, understand and quantify risks. And yet when it comes to hiring people, insurance has often kept on bringing in more of the same—despite the risks inherent in that approach.

Bermuda is home to the talent we need to prepare for the future and its challenges, but despite this, the Island’s pool remains largely untapped. There have been many improvements and certainly there is increased enthusiasm to recruit local talent, but it’s not just about being willing. It is also about taking a measured chance on someone, as well as having the foresight to lay the necessary groundwork to excite, enable and encourage diverse talent and welcome those with varied experiences.

My route into insurance was not at all direct, and at the age of 36 my background was not the typical one you might see on the CV of an insurance professional. Prior to joining Ed Broking Re, I was the general manager of an electric startup company called Current Vehicles—you might know them better as the Twizys. The business began in 2017 and was the first of its kind.

As well as the day-to-day operations, I was heavily involved in building the culture of the company while also integrating Twizys into the fabric of Bermuda as a safe and green mode of transport. Before that, for six-and-a-half years, I was in the police service, working in the community division, where I engaged with youth groups to prevent gang and drug crime.

Throughout all this I was aware of insurance and its prevalence on the Island, but until recently it was not a sector that felt open to me. I’ve always been entrepreneurial, but I didn’t feel that I had access to the international business community—perhaps because there were so few people who looked and sounded like me. There also wasn’t the outreach to help my generation better understand the sector and what it entailed.

It wasn’t until attending a social event at a local school that a seed of interest was sown for me. Following a conversation with a well-known industry figure I finally asked: “what is it that you do?” Then, during lockdown, I came across a pilot programme devised by the Association of Bermuda Insurers and Reinsurers (ABIR) when I realised that I wanted to know more.

Different perspectives

Another aspect of my reticence to explore insurance was my lack of understanding of my own worth—what skills and experiences did I have that this sector would welcome and benefit from? This is the case for so many individuals. But the more I spoke to people during the ABIR programme and explored what their job meant, the more I appreciated not only that I did have relevant and transferable skills, but also that my voice was important. Indeed, all voices and different perspectives are valuable.

I was fortunate enough to have the courage to make myself vulnerable and reach out to people for a coffee and ask questions: Insurance 101. Over time and through many caffeinated conversations with various people, I began to piece together the industry and my potential place in it.

I began to appreciate that my ability to get to know and to read people has its value in insurance. Every job I have had has been driven by engaging, supporting and understanding people. In the police there is a saying, “You must be at your best when people are at their worst”. This mantra resonated with me the more I spoke with insurance professionals.

We often interact with clients when they are facing difficulty, and while of course we need to have the expertise, the technology and the data, integrity and authenticity plays a large part. Clients want to feel supported by and comfortable around the people with whom they do business, as well as assured that we are acting in their best interest.

In addition, insurance is transforming. From a humble beginning in a London coffee shop, our industry is now harnessing technology and data to build a better market. My previous role relied on technology, using it to build a business that would benefit visitors to our beautiful Island. In joining Ed Broking Re, I knew my background would be welcomed.

Helping to build a platform that’s driven by speed and access to information was something I knew I would be passionate about. But is this facet of insurance clear to potential future talent? I believe that many perceive our sector as a traditional and corporate hill to climb, a numbers-based career out of reach and without innovation. We need to proactively present the very human and modern face of insurance and excite those looking to build a successful career.

I am aware that my ability to connect with people across different walks of life enabled me to reach out to connect, but some people might find this daunting. Many talented people in the community don’t feel that contacting someone and requesting a casual coffee conversation is a route open to them.

Reach out

I would encourage others to have the courage to reach out and trust to ask me and others for career advice or insight, much in the same way that I did, and be able to see the interconnectivity of our sector and the relationships behind it. Local events at schools and colleges, as well as programmes such as the one by ABIR, are vital in laying this foundation. Without such outreach, how can people recognise that they too hold value and perhaps much-needed experience, while also identifying the people they should talk to?

It’s not just executives from whom individuals should look to gain insight. Connections should be made with middle management, lower management, HR, etc, and in return these same people should look to take a chance on someone, look past their CV, have a conversation, and help to validate and then foster an individual’s potential. That may lead to taking a chance on someone who is from a non-traditional background who has skillsets and capabilities that may add value to the industry.

Bermuda is full of people like me, either at the beginning of their working life or further along. Once the seed of interest had been sown, and I better understood this sector and the people behind it, I knew I was a good candidate. I knew I was well rounded and had the experience the industry needs and thrives on. Moreover, in joining Ed Broking Re and as we transition to our new brand Inver Re as part of our new ownership, I have felt supported, and that has been essential in my change of career.

Throughout the rest of my career, I will endeavour to instil in others the courage I had to explore this sector and begin my journey in insurance. There tends to be a traditional trajectory within our industry. I don’t fit that mould! We should endeavour to seek more people who will add dynamic viewpoints and skills.

Our industry must continue to build and improve the systems, the networks and the culture needed to encourage and welcome them to build their career in insurance. By taking a risk and taking the time to invest in the people who are passionate about Bermuda, we will make our market stronger, our products better suited to the future and our Island more attractive to new capacity. We will all benefit.

Jerome Overbey is a business support analyst at Ed Broking Re Bermuda. He can be contacted at: jerome.overbey@edbroking.com