FORTY under 40: Caroline Erdman
Caroline Erdman, captive consultant, Hylant.
Caroline Erdman said that her career path is relatively short, as she joined Hylant in June 2023 after graduating from the University of South Carolina where she studied finance with risk management and insurance. While in school, she completed two internships, one with Aldi USA as a fixed asset intern, then with the South Carolina Department of Insurance where she was a financial analyst intern. At Hylant she started as a captive account manager, but moved to her current role of captive consultant in November, 2023.
How did you first become involved in captive insurance?
Initially while interning at the South Carolina Department of Insurance. I was able to learn about the lifecycle of the captive from licensing to annual filings, to the wind-down of captive operations.
What are the greatest challenges of working in this industry, and what do you find most rewarding?
One challenge the insurance industry currently faces is a talent gap, as the rapid growth in captives has outpaced the expansion of the workforce needed to manage them, prompting companies to question how they can continue to grow without finding the necessary workforce to support this growth.
The most rewarding aspect of working in the industry is helping companies design unique and innovative programmes that give them greater control and creative freedom – something the commercial market might not have been able to offer before.
The captive insurance industry offers a wide range of opportunities across various fields, from actuarial to captive consulting. Each career provides unique skill sets
Would you recommend the captive insurance industry to young people as a future career path?
I would highly recommend the captive insurance industry as a career path, because it offers a wide range of opportunities across various fields, from actuarial to captive consulting. Each of these careers provides unique skill sets, catering to a variety of personality types. Additionally, the industry fosters professional growth through numerous conferences, ACI courses and mentorship programmes.
What developments do you see ahead for captives?
I think the industry is going to continue to grow rapidly and hope we will begin to see increased numbers of younger talent enter as well.
Do you think your long-term future remains in the captives market?
As of now, I love working in this industry and I don’t see myself going anywhere for a long time.
Click here to read Captive International’s third FORTY Under 40 2025 publication.
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