PIERRÉ JACOBS

Pierré Jacobs is a chartered accountant with 15 years of experience in auditing and accounting. Originally qualified in South Africa, he joined Grant Thornton in the Cayman Islands as an audit manager in January 2015.

After being promoted to senior manager in 2017, Jacobs transitioned to a client services manager role in 2019 at Artex Risk Solutions. In 2021, he returned to Grant Thornton as a senior manager and was later promoted to director in September 2022. Currently, he serves as a director in the Insurance & Corporate Audit Department at Grant Thornton in the Cayman Islands.

Jacobs was described as being an amazing leader with vast experience in audit and industry. He is said to be easy to work with and knowledgeable on a lot of things and is said to be a very motivated individual with a broad knowledge base having spent time in audit as well as industry. He is an integral part of the Grant Thornton team who is always available to support his team.

Here he explains what makes captives a rewarding place to work in, why he’d recommend it to newcomers to the insurance industry and why he feels he’s in it for the long haul.

Do you feel that the captive insurance industry is a rewarding sector to work in?

Definitely. The captive insurance industry was created in response to the need for innovative and alternative solutions that were absent in the traditional insurance markets. This unique demand has attracted a pool of highly skilled professionals to the sector. Collaborating with some of these industry leaders has been an immensely rewarding experience for me.

Would you recommend the captive insurance industry to young people as a future career path?

Without a doubt, yes. The captive insurance industry offers excellent career growth and the opportunity to collaborate with highly skilled professionals, as mentioned earlier. It provides the chance to work in diverse domiciles and gain valuable international experience. Not only can you gain great experience and broaden your understanding of different regulatory environments and market dynamics, but you also have the opportunity to learn about and embrace new cultural experiences. In my opinion, this is invaluable for developing a well-rounded professional.

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

I strongly believe that the captive insurance industry holds significant relevance in today’s business landscape. It serves as an invaluable risk management tool for organisations spanning various industries, delivering tailored solutions to address specific risks that may be inadequately covered by traditional insurance markets.

Captives empower companies with greater control over their insurance programmes, cost savings, and the flexibility to effectively manage their unique risks. Throughout my years as an auditor and insurance manager, I have had the opportunity to engage with captive owners and industry professionals, gaining firsthand insights about numerous remarkable success stories. The genuine market demand for captives, coupled with their proven track record, solidifies their importance. I am confident that the industry’s relevance will continue to expand.

The captive insurance industry has its roots in innovation and will undoubtedly continue to embrace positive transformations. Recent trends indicate a notable expansion in the range of coverages offered, and this trajectory is likely to persist. Additionally, the industry will likely increasingly integrate technology, particularly leveraging artificial intelligence and machine learning. The advancements in these technologies hold promise for developing tools that can provide enhanced risk mitigation capabilities.

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

Most certainly. At this point, I might sound like a salesperson for the captive insurance industry but in all honesty it has been such a rewarding career move for me since I relocated to Cayman in 2015. For all the reasons mentioned above, it is definitely the industry I want to remain a part of for the long term.

I firmly believe that the sector will continue to grow and evolve, presenting new opportunities to explore and learn from. It is a journey I am eager to be a part of.