AARON LUBBERS

Aaron Lubbers started with OneDigital in 2021, with nearly a decade of industry experience working exclusively in the captive insurance space. His role is to simplify the complex world of captive insurance and to provide guidance, clarity, and specialised solutions for firms that are exploring this option.

Lubbers earned his Bachelor’s degree from the University of Kentucky and holds an Associate in Captive Insurance (ACI) professional designation from the International Center for Captive Insurance Education in 2021.

Prior to OneDigital, Lubbers developed significant industry knowledge by working as a consultant to dozens of agencies/brokerages around the US and Canada on the various captive options that exist for their clients. This work included everything from group captives to single parent structures in international and domestic domiciles.

How did you become involved in captive insurance?

I began in 2016 as an outsider to the insurance business. I learned about the insurance industry by focusing specifically on alternative risk financing. I developed significant industry knowledge by working as a consultant to dozens of agencies/brokerages around the US on the various captive insurance options that exist for their insureds.

Upon joining OneDigital in 2021, I assumed the role of leading their P&C captives practice. I use my experience and expertise to simplify the captive insurance concept for our clients, while also finding creative cost-effective solutions that align with their needs. This entrepreneurial spirit, coupled with a commitment to creativity, has not only positioned me as a top performer in the industry but also made my expertise highly sought-after, benefiting numerous other insurance brokerages, agents, and companies nationwide.

I continue to look for ways to innovate and drive value for insureds and the partners with whom I work.

What are the biggest challenges of working in this industry, and what do you find most rewarding?

Navigating the educational curve is one of the foremost challenges in our industry. Captives are complex: coordinating the various pieces and stakeholders to ensure the programme comes together and operates as intended, can be challenging for both insureds and broker teams. However, working through these challenges often leads to the most rewarding moments—the “aha” moments that lead to a solution that aligns the interest of the insured, broker teams, and their insurance programmes alike.

Watching organisations reap the rewards of their risk management efforts is extremely gratifying. The captives industry serves as a testament to the importance of effective risk management, and facilitating this realisation for teams is deeply meaningful to me.

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

There are so many opportunities for those early in their career to learn and grow within this industry. One of the key advantages is the chance to network with professionals from diverse backgrounds and industry sectors, who are eager to share their knowledge and mentor aspiring individuals.

What sets this industry apart is its dynamic nature—it’s constantly evolving. As a young professional, you have the unique opportunity to ride the wave of this evolution and growth, something that seasoned veterans may not have had the chance to experience in their early years.

What developments do you see ahead for captives?

Looking ahead, I foresee continued growth and evolution in the captive insurance space. Creativity has been and will remain a driving force, consistently pushing the boundaries regardless of the market cycles. Innovation, continued focus on risk management, increased insured risk tolerance, and growing structural comfort from commercial insurers continue to drive down the barriers of entry.

Captives are no longer viewed as just an “alternative” but have become a permanent fixture in the industry landscape. As insureds are becoming increasingly sophisticated, they recognise the benefits of alternative risk financing methods, and this realisation is fuelling the ongoing expansion of captives, a trend that shows no signs of slowing down.

Do you think your long-term future remains in the captives market?

Yes, I often tell people I have the best job in the insurance business. This industry has afforded me opportunities to work with some great people and organisations, and for that I am grateful. Truthfully, I feel that I am just getting started. I’m excited about the future and look forward to growing with the innovation that is to come.