FORTY under 40: Claire Richardson
Claire Richardson, Captive consultant, Hylant Global Captive Solutions
Claire Richardson interned with the Hylant Global Captive Solutions team before joining full-time in June 2021 as a captive consultant. She works on educating stakeholders, completing feasibility studies and strategic review analyses, executing domicile analyses, and client-specific data analysis to provide the best service and value to clients of any size and industry looking to alternative risk transfer solutions.
Her expertise continues to grow through her involvement in the captives industry as she is a part of the conference planning committees for the North Carolina Captive Insurance Association and the Vermont Captive Insurance Association.
Richardson serves on the Captive Insurance Companies Association’s NEXTGen board, and additionally as co-chair on subcommittees NEXTGen and Amplify Women initiatives, empowering young and diverse talent. She sits on the CISR board of governors for The National Alliance for Insurance Education & Research.
As an up-and-coming leader in the industry, Richardson takes time to curate captive insurance articles and interviews for various publications, continues to share expertise on panels during many captives conferences, and gives time back to the students interested in learning more about the insurance industry.
The continuous growth is apparent in all niches of the captives industry
How did you become involved in captive insurance?
During my time at Butler University, I gained firsthand in-depth knowledge about captives through Butler’s captive insurance company, which is the first and only student-run captive in the world. I was fortunate to have internships during my time at Butler, and captive insurance kept coming up through my experiences in the insurance industry.
In my senior year I was lucky enough to work with Butler University, ICCIE, and Victor Puleo to curate a self-study course to allow me to begin my ACI while finishing my degree. During my last semesters at Butler, I joined the Hylant team as a captive consulting intern, transitioning to a full-time employee once I graduated from Butler in 2021.
What are the biggest challenges of working in this industry, and what do you find most rewarding?
My answer for both the most challenging and the most fulfilling aspect is the speed of the industry’s growth. It has been overwhelming in the best way possible. More companies are looking for creative risk financing strategies, namely captive insurance solutions, than ever before. The continuous growth is apparent in all niches of the captives industry. From regulation to captive management efficiencies, the innovation is endless.
Would you recommend the captive insurance industry to young people as a future career path?
No two days are the same. I have so much variety in my job, it allows me to continue learning and innovating: through professional education channels as well as mentorship. That is only one of my favourite aspects of the industry, on top of the fantastic people.
For the younger generations coming into the captives industry, take the time to get to know the veterans of the industry and invest in their mentorship as much as possible. The amount of support the industry has to offer future leaders is endless.
What developments do you see ahead for captives?
It’s no secret that the entire insurance industry is aging and leaving a tremendous opportunity for the new generation of insurance leaders. With the next generation of talent entering the industry, innovation is inherent. Just what that innovation will impact first, or most, is nearly impossible to predict at this point. I am excited to see what the next generation of diverse talent brings to the table.
Do you think your long-term future remains in the captive market?
Definitely! Only three years ago I was graduating from Butler University, and now I can expound on the fantastic experiences I’ve had, delightful clients and professionals I’ve had the privilege to work with, and places I’ve travelled. I can only imagine what the next years in the industry will bring.
Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
