JOSHUA CLARK

Joshua Clark is currently an area vice president, producer & captive insurance consultant for Arthur J. Gallagher, the world’s third largest insurance broker. Clark serves as a member of the CICA NextGen committee, is active in the Tennessee Captive Insurance Association, and holds the Associate in Captive Insurance designation. Additionally, he is an upcoming board member for the Nashville chapter of Young Risk Professionals.

He has extensive experience in risk management solutions in the insurance industry, captive insurance, SaaS risk management or insurance software, insurance brokers, reinsurance, and process improvement.

Recently, Clark was the director of business development for the Tennessee Department of Commerce and Insurance, appointed by the Commissioner to focus on bringing more insurance investment to the state through traditional and captive insurance solutions and formations. He was also an independent loss control consultant for Overland Solutions, an EXL company, conducting phone and in-person risk assessments during the COVID-19 pandemic.

Previously, Clark held leadership roles in various companies, including director of production and compliance for OnSite Fleet Management; director of risk management for property management firm Freeman Webb; sales executive at Origami Risk; regional loss control manager at Sonic Automotive; and brokerage underwriter and business development manager–marketing representative at All Risks.

Clark was described as very knowledgeable and experienced in the captives field from the private sector to the public (state level in Tennessee) sector and was also said to be very professional, with a notable work ethic. Here he explains why the captives market is no longer seen as an alternative part of the insurance industry and why he has a passion for this area of business.

Would you recommend the captive industry to young people?

I highly recommend young people to consider pursuing a career in the captive insurance industry. The sector offers a fulfilling and challenging professional journey, with ample opportunities for growth, problem-solving, industry impact, and continuous learning..

How do you feel that the captive insurance industry will evolve?

I recently came across an insightful article discussing the shifting perception of the captives industry, suggesting that it should no longer be labelled as an “alternative market” but rather be recognised as simply another market. I wholeheartedly agree with this perspective. As the insurance industry continues to undergo significant transformations, it is crucial for organisations to maintain maximum control over their insurance programmes.

In this context, innovative solutions are rapidly becoming the norm, and in my opinion, few solutions are as innovative as a properly structured captive.

Do you think your long-term future remains in the captive industry?

As I contemplate the future, one thing remains certain—I hope to embrace captives as an integral part of my professional journey. My passion for this industry has grown steadily, and I firmly believe that the skills and expertise I have developed will play a pivotal role in helping clients achieve their ultimate insurance programme goals.