FORTY under 40: Aviel Shalev
Aviel Shalev, consultant, Spring Consulting Group.
Aviel Shalev joined Spring in January 2022. Over the first year, he worked across actuarial teams, including P&C, MSL and health and welfare. That education provided insight into the analytical side of alternative risk. He earned a health insurance licence and began taking ACI classes.
He travels with colleagues to industry conferences such as VCIA and RIMS, working with clients and others; from board meetings to meeting industry colleagues and delivering presentations on industry topics. He is fortunate to work with a talented team that spans the P&C and EB spectrum across a range of alternative risk structures. The work ranges from conducting feasibility studies to providing ongoing actuarial and consulting support.
Shalev says that he feels fortunate to work alongside and learn from Spring’s experts such as Karin Landry, co-founder, and Prabal Lakhanpal, an SVP. The vast and in-depth subject matter expertise provided by industry experts has proved immensely valuable, particularly in their ability to take complex concepts and articulate them in an easy-to-understand and digestible manner.
How did you first become involved in captive insurance?
On a risk financing course at Temple University’s Fox School of Business. My professor invited Prabal Lakhanpal from Spring consulting group to give the class a quick crash course in captives. I was immediately curious and did more research. I followed up with my professor over the next few weeks to ask questions about alternative risk funding and captives. A few weeks later, he informed me about an opportunity at Spring. After graduating and several rounds of interviews, I joined Spring where I began to dive deep into the world of captives and alternative risk management.
The most rewarding aspect of this industry is seeing the moment when someone new to captives has that "a-ha" moment; when the dots start to connect
What are the greatest challenges of working in this industry, and what do you find most rewarding?
Education surrounding alternative risk management and insurance remains a major challenges. I majored in risk management and insurance and at the time, hadn’t heard about captives until my final semester of university, and even then, it was only discussed briefly. Captives are incredibly versatile and can be complex to understand. The most rewarding aspect of this industry is seeing the moment when someone new to captives has that "a-ha" moment. When the dots start to connect, and they begin asking insightful questions, it’s clear they are grasping the potential of captives.
Would you recommend the captive insurance industry to young people as a future career path?
Yes, captives play a crucial, yet often underappreciated, role in the insurance landscape. They are dynamic and can be tailored to solve a wide range of challenges. I’d recommend the industry to people who are curious, eager to learn and excited by the prospect of a constantly evolving career. There is significant potential for growth and impact, both for individuals and for the industry as a whole.
Take the time to connect with industry experts, professors and mentors. Finding organisations genuinely committed to investing in the growth and development of their people makes a meaningful difference in building a successful and rewarding career.
What developments do you see ahead for captives?
I see captives being more accessible to mid-sized employers. Domiciles are beginning to open up and regulators are becoming more receptive to the needs of the market. As traditional carriers raise rates and reduce capacity, many organisations are realising the conventional commercial insurance model might not be the best fit for their specific risk profiles. This shift is driving greater exploration of alternative, long-term risk funding solutions that are more customised to their specific needs.
Do you think your long-term future remains in the captives market?
Yes, what excites me most is the continuous learning and the opportunity to work alongside industry experts at Spring. I enjoy learning about the countless alternative risk solutions that address unique challenges and enjoy sharing what I’ve learned. The constantly changing nature of the market provides consistent opportunities to learn and solve complex challenges, which is why I don’t see myself leaving the industry any time soon.
Click here to read Captive International’s third FORTY Under 40 2025 publication.
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