CICA’s initiative NEXTGen bridges generational gap in captives

Over the next decade, many senior insurance leaders will retire, taking their experience and knowledge with them, and so there’s never been a better time to future-proof the industry and support its up-and-coming leaders.

The Captive Insurance Companies Association (CICA)’s ‘NEXTGen − young & new professionals’ initiative has, over the last five years, opened the door wide for emerging professionals to belong, contribute and lead. What began in 2019 as a small taskforce of fewer than 10 people grew into a strong community of over 250 participants—and a cornerstone of captive insurance’s future.

“From my perspective, the biggest impact CICA NEXTGen has had on the industry is that it supported the creation of a sustainable pipeline of emerging talent and future leaders,” said Prabal Lakhanpal of Spring Consulting Group, who previously chaired the group. 

“Before NEXTGen, there was a notable gap in how the industry attracted, engaged, and retained young professionals; NEXTGen has changed the narrative by not only building a community for early-career professionals but also giving them a platform to contribute meaningfully—whether through educational programming, mentorship opportunities, or thought leadership.

“This initiative has made the industry more accessible and future-focused, helping ensure long-term vitality and innovation in a field that can otherwise seem niche or an insular space.”

The scheme’s purpose has been “to bring the voices of young and new professionals to the planning table to advise CICA on providing the education and networking, including the social networking, they are looking for to advance their captive careers” and started with a cross section of captive owner, service provider and domicile/regulator members.

Together with CICA’s other successful initiative ‘Amplify Women’, the two programmes have over 500 people subscribed for updates, while more than 100 volunteers have given time to various committees. And through dozens of events, young professionals have connected with each other—and with seasoned leaders—on a scale not seen before in captives.

“Captive insurance is a complex niche industry. Therefore, it is critical that young professionals feel connected to the industry through a network to talk through work related issues, or to get together for lunch,” said committee member Michael Zuckerman of the Fox School of Business at Temple University. “NEXTGen’s most significant impact is providing a platform to gather, network and discuss common issues.”

The value of this scheme is, for many, personal as well as professional, as current co-chair Diana Hardy of RH CPAs explained: “NEXTGen has created a powerful platform for emerging leaders in the industry to connect, learn and grow. I’m most proud of how we’ve fostered a sense of community and connecting members from all different types of roles in the industry. It’s been inspiring and rewarding to help shape the next wave of captive leaders.”

Karen Hsi, previously on the committee, and employed at the University of California Office of the President, echoed that sentiment. “CICA’s NEXTGen initiative has served as a valuable platform for emerging professionals to cultivate meaningful connections with both seasoned experts and peers at similar stages in their careers. 

“Through my involvement, I have developed enduring professional relationships and forged friendships that extend beyond the workplace. These individuals are not only trusted colleagues I can consult for business insights, but also genuine friends with whom I enjoy sharing life’s journey. It’s this kind of support and shared growth that makes NEXTGen so powerful—and I’m grateful to be a part of it!”

For those involved, the initiative has made navigating a new industry far less daunting, and current co-chair Bailey Roese of Dentons Bingham Greenbaum described her earlier experiences within the industry.

“I got involved with CICA NEXTGen when I was just starting out in the industry, and I’m so glad I did. By the time I attended my first captive conference, I already had a group of folks to seek out, which made me feel so welcome in a new space.

“Walking into a group of captive industry veterans can be intimidating, but CICA NEXTGen has allowed me to make my own way and connect with people just like me. I’m so grateful for this programme!”

Committee alumnus Adam Miholic of Revantage explained why the initial goal—making the industry more welcoming—had blossomed into something bigger over the last five years. “When I started my career in the industry, my first conference experience was overwhelming and I felt isolated. Seeing the community and proactive involvement of young and new professionals in the industry at the latest 2025 CICA International Conference is one the accomplishments I am most proud of,” he explained.

“When we launched the initiative five years ago, we had a simple yet significant goal of expanding education and networking opportunities to individuals new to the captive industry. I believe the NEXTGen community has not only met that goal but far exceeded it in both scope and depth.”

This impact isn’t just felt by participants, but by their companies too. Heather McClure, CICA Chair and managing partner of Helio Risk, stated: “I have seen first-hand the impact CICA NEXTGen has had on members of our young professional staff and their colleagues in the industry. The education and networking CICA NEXTGen provide gives others the confidence and encouragement they need to fully participate in all aspects of captive service.”

That’s the kind of confidence that fuels lasting industry change. Lakhanpal reflected: “I consider myself lucky to be a small part of a much larger initiative that supported trying to bridge the gap between experience and fresh perspective. I’m especially proud of fostering real connections—seeing someone I mentored or collaborated with step into a new role or get recognised in the industry is incredibly rewarding.” 

Dan Towle, president, Captive Insurance Companies Association, echoed the sentiments of those commenting on those commenting. “NEXTGen is more than an initiative—it is a legacy we are building together. By investing in the next generation, we are not just preparing future leaders; we are creating a more connected, innovative, and inclusive captive industry. That is the true mark of progress—and it is only just the beginning.”

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