IN-the-Know

\Arun Balakrishnan is the Group Chairman and Chief Executive Officer of Xceedance, a global provider of technology-driven business solutions for the insurance industry. Today on In The Know, Arun and Chris Hampshire consider the future of claims and settlements in light of incredibly rapid technology advancements.   Key Takeaways Arun's career path led him to an industry he's extremely passionate about. Insurance wasn't an accidental career choice for Arun. The evolution of the Indian insurance marketplace. Are insurance IT platforms at an inflection point? The current state of insurance technology advancement. Lessons learned from working with legacy carriers. Utilizing AI to provide claims assistance. Characteristics of new hires that CEOs are looking for. A five-year look to the future of the industry. Arun's advice to his early-career self.   In the Know podcast theme music written and performed by James Jones, CPCU, and Kole Shuda of the band If-Then.   To learn more about the CPCU Society, its membership, and educational offerings, tools, and programs, please visit CPCUSociety.org.   Follow the CPCU Society on social media: X (Twitter): @CPCUSociety Facebook: @CPCUSociety LinkedIn: @The Institutes CPCU Society Instagram: @the_cpcu_society   Quotes "Insurance is an industry that is very instrumental to part of any society." "A lot of insurtech dollars are going toward the adoption of AI to improve operational efficiencies." "The faster adoption of AI could lead to an increase in overall settlements and have a bigger impact on the insurance industry." "Insurance is an industry that is a very good career choice."

Awais Farooq is the Chief Claims Officer at Venbrook and an In2Risk opening general session panelist in Las Vegas on October 19th‒21st. He is a transformation strategist, author, and keynote speaker with nearly two decades of experience leading operations across some of the industry's most recognized organizations, including State Farm, Chubb, Berkshire Hathaway GUARD, and Crawford & Company. Today on In The Know, Awais and Chris Hampshire discuss where claims is headed in the age of AI.   Key Takeaways ● Awais shares his unexpected journey into the insurance industry. ● The appeal of a career in claims. ● Where is claims technology heading? ● Three facets of the benefits of AI in claims. ● Concerns about AI usage in insurance. ● Questions Awais asks himself when considering a business move. ● Keys to effective transformation within legacy entities. ● Insights into Awais's writing process and new book. ● The career value of involvement in industry events. ● A five-year look to the future of the insurance industry. ● Awais's encouraging advice to his early career self.   In the Know podcast theme music written and performed by James Jones, CPCU, and Kole Shuda of the band If-Then.   To learn more about the CPCU Society, its membership, and educational offerings, tools, and programs, please visit CPCUSociety.org.   Follow the CPCU Society on social media: X (Twitter): @CPCUSociety Facebook: @CPCUSociety LinkedIn: @The Institutes CPCU Society Instagram: @the_cpcu_society   Quotes ● "Things are accelerating, and we are going to realize that we can do things cheaper, better, faster, and more effectively [with AI]." ● "Success with AI is about making sure you're staying with the current, and trying to stay ahead of it." ● "My goal is to help people know that AI is not going to take their jobs away." ● "Roles continue to evolve and change, and that makes the human jobs easier." ● "The thing that helped my career accelerate the most is the guidance and mentorship of a variety of different people."

Jared Roberts is the AVP of Underwriting Operations at Risk Point with 20 years of hands-on experience spanning commercial & personal lines pricing, underwriting, and claims. A lifelong learner, he has earned the CPCU, API, AIC, and CASA designations and shares his expertise as a consulting author for IRMI. Today, Jared joins Chris Hampshire on In The Know for a look at Jared's career path, his thoughtful approach to changing roles, and his involvement with the Emerging Leaders Committee of the CPCU Society.   Key Takeaways ● Jared's insurance career journey started with rental cars. ● Major appealing features of the insurance sector. ● Claims as an ideal training ground. ● Advancing from analyst to product manager. ● Questions to ask when considering a career move. ● The value of earning designations. ● The impact of technology on the operations sector, personal lines, and commercial lines. ● Jared's involvement with the CPCU Society. ● Advice to anyone who is interested in joining a committee. ● Why insurance? Jared has an exciting answer. ● A five-year look to the future of the industry. ● Jared's advice to his early-career self.   In the Know podcast theme music written and performed by James Jones, CPCU, and Kole Shuda of the band If-Then.   To learn more about the CPCU Society, its membership, and educational offerings, tools, and programs, please visit CPCUSociety.org.   Follow the CPCU Society on social media: X (Twitter): @CPCUSociety Facebook: @CPCUSociety LinkedIn: @The Institutes CPCU Society Instagram: @the_cpcu_society   Quotes ● "As soon as I started in claims, I could see that I was doing good for people." ● "Insurance doesn't only provide a societal good; it provides jobs for people." ● "A lot of people in my career have taken a chance on me, and I have the moral responsibility to pass that on through the CPCU Society." ● "I wish I had gotten involved with CPCU designations a lot earlier than I did."  

Dominick Zangaro is an experienced insurance professional across multiple lines of coverage and in multiple roles. He has a Master of Science in Cyber Risk Management and a BA in Finance from Mercyhurst. Through his Master's education, he developed technical knowledge of computer science and cyber risk management to ensure compliance with state, federal, and international regulations. In 2022, he launched Great American Insurance Group's cyber loss control offering and, most recently, launched Miti, an AI native safety platform designed to orchestrate data from IoT systems to identify, analyze, and mitigate business risks from a centralized dashboard. Here, Dominick joins Chris Hampshire on In The Know for a discussion about his endeavors in utilizing AI and preventative measures in the insurance sector, the current state of AI and data in the insurance sector, and what the future of technology and insurance might look like.   Key Takeaways ● Dominick's journey into the insurance world. ● The importance of designations and insurance credentials. ● Dominick's Master of Science in Cyber Risk Management. ● Offerings from AI native safety platform Miti. ● The current state of AI and data in insurance. ● Dominick's message to those considering an insurance career. ● Lessons learned from starting up a new business. ● A five-year look to the future of the industry. ● Dominick's advice to his early-career self.   In the Know podcast theme music written and performed by James Jones, CPCU, and Kole Shuda of the band If-Then.   To learn more about the CPCU Society, its membership, and educational offerings, tools, and programs, please visit CPCUSociety.org.   Follow the CPCU Society on social media: X (Twitter): @CPCUSociety Facebook: @CPCUSociety LinkedIn: @The Institutes CPCU Society Instagram: @the_cpcu_society   Quotes ● "When I heard that insurance was such a recession-proof industry, I started to understand what the benefit could be of a life in insurance." ● "I got my CPCU and other designations because I want to be able to articulate accurately why decisions are being made." ● "The CPCU gave me a holistic education to be able to provide a comprehensive analysis of any ongoing situation." ● "Find something you're interested in, and look for an organization that you're interested in, and find a company that works with that industry."    

Kelsey Connors is a Senior Policy and Performance Underwriter at USAA. She holds the CPCU and AIDA designations from The Institutes and is an active leader within the CPCU Society, currently serving as President of the Arizona Chapter and Vice Chair of the Publications Committee. Here, Kelsey joins Chris Hampshire on In The Know for a conversation about underwriting, how her time as a Disneyland Jungle Cruise operator prepared her for a career in insurance, and the value of getting involved in the CPCU Society as soon as possible.   Key Takeaways ● Kelsey's pivot from Disneyland to the insurance industry. ● Getting involved with the CPCU Society. ● Kelsey's decision to pursue a career in insurance. ● Similarities between the Disney experience and the insurance experience. ● Details of an underwriting career. ● Utilizing AI in underwriting. ● Pursuing the CPCU designation. ● Rewards of involvement in the CPCU Society. ● A five-year look to the future of the industry. ● Attracting talent to the insurance industry. ● Kelsey's advice to her early-career self.   In the Know podcast theme music written and performed by James Jones, CPCU, and Kole Shuda of the band If-Then.   To learn more about the CPCU Society, its membership, and educational offerings, tools, and programs, please visit CPCUSociety.org.   Follow the CPCU Society on social media: X (Twitter): @CPCUSociety Facebook: @CPCUSociety LinkedIn: @The Institutes CPCU Society Instagram: @the_cpcu_society   Quotes ● "I always knew that underwriting was what I wanted as a long-term goal, and that was when I started looking into the CPCU Society." ● "My membership in the CPCU Society is by far the greatest thing I've done for my own career." ● "My role in the CPCU Society has given me even more confidence in my role as an underwriter." ● "I owe a lot of my career development to the CPCU Society."

Rena Strohmeier is the Underwriting Manager at Wawanesa Insurance and a San Diego State University faculty lecturer, teaching insurance and risk management classes. She is a member of the Executive and Leadership Council of the CPCU Society, and holds CPCU, AIC, and AINS designations. Here, she joins Chris Hampshire on In The Know for a conversation about working for a California-only insurer, global insurance interests, and insurance careers for women and offerings for underserved communities.   Key Takeaways ● Rena's career path started in auto theft. ● Underwriting or claims? CPCU helped determine Rena's decision. ● Insights into personal lines. ● Why insurance? Rena shares her personal answer. ● Women In Leadership offerings. ● Rena's involvement with the CPCU Society. ● Rena's role as guest lecturer at San Diego State University. ● The current state of the California insurance industry. ● A five-year look to the future of the industry. ● Rena's advice to her early career self.   In the Know podcast theme music written and performed by James Jones, CPCU, and Kole Shuda of the band If-Then.   To learn more about the CPCU Society, its membership, and educational offerings, tools, and programs, please visit CPCUSociety.org.   Follow the CPCU Society on social media: X (Twitter): @CPCUSociety Facebook: @CPCUSociety LinkedIn: @The Institutes CPCU Society Instagram: @the_cpcu_society   Quotes ● "The partnership between underwriting and claims is a very good one that we should think about more in the industry." ● "Women — there is a space for you in this industry." ● "If you know what you're passionate about, reach out, and someone can help connect that to insurance." ● "The possibilities and probabilities of success and building generational wealth and creating a legacy, I'd say, are greater in insurance than any other industry out there."  

Lou Bonanno is the AVP of Property Underwriting at Arch Insurance Group, where he is responsible for portfolio management and analysis, program data feeds, corporate and business unit reporting. He also serves as the business unit representative to the Data Transformation Team. He has held positions in claims, premium audit, accounting, consulting, and ceded reinsurance. Lou is an active volunteer of the CPCU Society, currently serves in the New Jersey Chapter and previously on the Publications Committee and Technology and Innovation Committee. Here he joins Chris Hampshire on In The Know for a conversation about innovation and technology in insurance.   Key Takeaways ● Lou's insurance career started with personal lines. ● Questions to ask yourself before pivoting. ● Questions to ask others to enhance learning. ● Lou's decision to earn designations and his MBA. ● The role of AI in today's industry. ● Data and technology in the insurance sector. ● Current and future abilities and applications of AI. ● Addressing the talent gap with AI. ● Lou's advice to his early-career self.   In the Know podcast theme music written and performed by James Jones, CPCU, and Kole Shuda of the band If-Then.   To learn more about the CPCU Society, its membership, and educational offerings, tools, and programs, please visit CPCUSociety.org.   Follow the CPCU Society on social media: X (Twitter): @CPCUSociety Facebook: @CPCUSociety LinkedIn: @The Institutes CPCU Society Instagram: @the_cpcu_society   Quotes ● "I look for career opportunities that I wouldn't have in my current role." ● "Being curious and willing to ask questions will get you a lot further than making believe you do know." ● "No matter where I go in the industry, AI is going to be a huge portion of it." ● "I wish I had known the importance of people and connections earlier in my career."  

Ruth Phillips is a Learning and Development Specialist with Higginbotham, where she develops and delivers training programs that help insurance professionals build technical expertise and advance their careers. She holds a Master's degree in Adult Education and has earned 17 insurance and professional development designations, including the CPCU and Insurance Training Professional (ITP) designations. Here she joins Chris Hampshire on In The Know for a conversation about learning and development in an era of telework and AI.   Key Takeaways ● Ruth's early career dreams were those of a fighter pilot. ● Key changes to online learning and development. ● Effective online versus in-person training. ● Tracking understanding and comprehension in students. ● The ROI to carriers and brokers when investing in new hires. ● Successfully spreading training resources out. ● AI tools that effectively assist in training. ● Fundamentals of a successful training program. ● Ruth's message to anyone considering a career in insurance. ● A five-year look to the future of the industry. ● Ruth's advice to her early-career self.   In the Know podcast theme music written and performed by James Jones, CPCU, and Kole Shuda of the band If-Then.   To learn more about the CPCU Society, its membership, and educational offerings, tools, and programs, please visit CPCUSociety.org.   Follow the CPCU Society on social media: X (Twitter): @CPCUSociety Facebook: @CPCUSociety LinkedIn: @The Institutes CPCU Society Instagram: @the_cpcu_society   Quotes ● "Today's technology has completely changed the way that I look at training people." ● "AI has been a lifesaver for me when training." ● "No matter what you love, we can find you a job in the insurance industry." ● "Tech isn't going to replace us, but if we're not using it, then we will be replaced."  

Richard Parker is the Chairman at Applied Underwriters Aerospace, LLC, where he runs the space team. He recently joined Chris Hampshire for a special episode of In the Know: Ask the Expert, which features their conversation about the structure of space insurance, recent explosions, the typical claims process, and a host of other questions from a live audience.   Key Takeaways ● The structure of space insurance. ● Recent changes in space insurance underwriting. ● Challenges of insuring smaller spacecraft. ● Geosynchronous Earth Orbit characteristics. ● What type of space-specific coverages would Jeff Bezos have? ● Are space insurance products carrier-direct? ● How can an industry professional get hired into space insurance? ● Do captive insurance companies work with space insurance? ● How can space insurance be priced profitably and competitively? ● Is the space insurance economy a growing market? ● Was the recent explosion accurately depicted in the media? ● What does the claims process look like? ● Are there separate coverages for workers' comp and third-party liabilities? ● Will space tourism create new opportunities for space insurance?   In the Know podcast theme music written and performed by James Jones, CPCU, and Kole Shuda of the band If-Then.   To learn more about the CPCU Society, its membership, and educational offerings, tools, and programs, please visit CPCUSociety.org.   Follow the CPCU Society on social media: X (Twitter): @CPCUSociety Facebook: @CPCUSociety LinkedIn: @The Institutes CPCU Society Instagram: @the_cpcu_society   Quotes ● "Space insurance is unique because it doesn't have a lot of loss history." ● "Space insurance offers a worldwide opportunity with offerings to the entire commercial space industry." ● "The space insurance market is efficient and good for clients, but it can be extremely difficult to price." ● "It's absolutely fascinating to work on a space insurance claim." ● "Any growth in space is an opportunity for space insurance."

Joe Powell is the Chief Digital Officer at Gallagher Bassett, where he oversees Data, Analytics, and Product Innovation functions. He previously served as a management consultant at Bain & Company, and holds a Bachelor of Science and a Master of Science in Management Information Systems from the Kelley School of Business at Indiana University. This episode of In the Know was recorded live at RIMS RISKWORLD 2026 and features a conversation between Chris Hampshire and Joe about the state of AI, trends in data and analytics, and all that a future with AI has to offer.   Key Takeaways Joe's career in data and technology. Data, analytics, and AI in today's world. Third-party offerings for claims handlers. Strategies for measuring ROI gains. Responsible implementation of AI. Joe's transition from consulting to insurance. Surprising insights from the depths of the industry. Joe's advice for anyone interested in insurance. Keys to running a successful AI project. A five-year look to the future of the industry. The characteristics that Joe looks for in his team. Joe's advice to his early-career self.   In the Know podcast theme music written and performed by James Jones, CPCU, and Kole Shuda of the band If-Then.   To learn more about the CPCU Society, its membership, and educational offerings, tools, and programs, please visit CPCUSociety.org.   Follow the CPCU Society on social media: X (Twitter): @CPCUSociety Facebook: @CPCUSociety LinkedIn: @The Institutes CPCU Society Instagram: @the_cpcu_society   Quotes "For a data geek, insurance is a great place to be." "Anyone who is thinking about a career in insurance will find the folks you trust and find the place that will help you succeed." "You can start doing a lot of things that you want with AI before you make a major investment."