Lloyd's Regional Director Reflects On Career In Insurance

The impulse to understand what people are thinking and feeling is one which has been instrumental to Black’s impressive trajectory within the insurance sector, and she believes that the trait of empathy is one which links all those who are successful in the industry. And while this empathy has always been essential, it is particularly important right now in the midst of the COVID-19 crisis.

“With a hard market, brokers and underwriters are in the position of helping to explain difficult situations to their clients. Businesses are suffering and people are trying to do the right thing and to help. You have social injustice and, again, I am hearing this empathetic voice within insurance. People are listening and people are taking action. And I’m seeing companies, certainly seeing within Lloyd’s, the work that is being done around social injustice and the amount of empathy being expressed.”

Black first joined the insurance sector when she started working with her father’s insurance agency in Pittsburgh as a teenager, holding down a range of roles from receptionist to customer service rep before she went to college. While obtaining her degree at Allegheny College in Meadville, Pennsylvania, she worked in customer service for an off-campus insurance agency. Then Chubb came to the campus for recruiting, she said, and she interviewed with them and joined their training programme.

“I’m actually one of those few who chose to go into insurance, while so many of my colleagues kind of fell into it,” she said. “What I like the most about the sector is that it plays such an important role in the economy. You’re paying covered claims to help people in a time of need. And there’s something very appealing about that, to be so helpful and also to be such an important part of the economy.

“I also love the variety of my job, no two days are ever the same. And we represent so many different stakeholders, so I have to read to stay updated on what’s happening, not only in the industry but also in the broader global sense. But mostly, I really enjoy the people. There are so many great people in the industry and I’ve made lifelong friends. People in insurance really do look out for one another.”

Having worked exclusively in the insurance industry from such a young age, and having had such a positive experience, Black is passionate about encouraging a new, diverse stream of talent to develop their potential within the sector. Lloyd’s does a lot of work with universities, she said, and is really examining how it can also engage with younger people even before they reach college. The focus is on educating young people about what insurance really is, and how it impacts society.

“We do a lot of presentations, and within the various boards that I am on, we do a lot of board outreach,” she said. “One of the things I recently did was take on a new mentee who is coming from the risk management programme at UNC Charlotte. She reached out to me and she’s moving to New York Insurance, so I’m helping her along and I’ve sponsored her membership fee to the Association of Professional Insurance Women. And I invited her to the IBA conference which I spoke at, so she could come along and participate and learn more about it.”

Black, who recently joined the global advisory board of Insurance Business’s Women in Insurance Network, noted the need for the insurance industry to embrace new talent initiatives, highlighting that the sector is ageing and needs more young people coming in. These programmes should also be about personal outreach, she said, as if everybody took the time to look after one or two people and helped to bring them in and supported their journeys, the sector would be so much stronger.