FORTY Under 40: Elma Bandic
Elma Bandic, client development manager, GEB.
Bandic is based at the GEB’s group head office in Luxembourg. After gaining a master’s degree in international strategic management and finance from Paris 1 Panthéon-Sorbonne University, she began her career in international employee benefits at Swiss Life Network before joining GEB in November 2021, where she has advanced with two promotions to date.
Passionate and energetic, Bandic manages a diverse portfolio of multinational captive and pooling clients. She is recognised for her ability to strengthen long-term strategic partnerships, anticipate emerging challenges, and deliver innovative, high-level solutions. Her approach combines strategic insight with pragmatism, clarity, and authenticity, earning the trust of clients and colleagues alike.
Looking back at your journey over the past year, what accomplishment are you most proud of, and how has becoming a FORTY Under 40 finalist influenced your perspective on that achievement?
Over this past year, I am most proud of strengthening long-term strategic partnerships by elevating our conversations beyond cost efficiency toward sustainability, employee protection and long-term value creation. In a complex global benefits and captive environment, it is easy to focus on technical execution – but I deliberately shifted my approach toward becoming a true strategic partner to my clients and colleagues.
At the end of the day, we (myself and our industry) are responsible for protecting what is often a company’s most valuable asset – its people – and ensuring their wellbeing, stability and long-term security. I truly care about the individuals behind every programme. Behind every loss ratio, funding structure and renewal negotiation, there are employees and families relying on these benefits.
Being named a FORTY Under 40 finalist has reinforced my belief that real leadership happens at the intersection of performance and people. What once felt like “just doing my job” now feels like a meaningful contribution to shaping our sector. It reminded me that consistency, relationship-building, and integrity are achievements in themselves. It also reinforced my responsibility to keep raising the bar – not just for performance, but for impact.
What key challenge did you face in your work this year? How did you overcome it and what did it teach you about leadership at this stage of your career?
We operate in a world that is becoming increasingly complex – influenced by geopolitical volatility, regulatory change, climate uncertainty and digital transformation.
The recurring challenge is managing client expectations during a period of increased complexity, healthcare inflation and cost constraints. In moments of uncertainty, stakeholders don’t just need technical answers; they need reassurance and direction.
What this taught me about leadership is simple: in a complex world, clarity creates trust. Even if there are limits in the current environment, doing your best to work transparently, think outside the box, challenge the status quo, and look for pragmatic and creative solutions truly makes a difference.
In what ways have you tried to push innovation or rethink traditional approaches within your sector, and what impact has that had on your team or organisation?
Innovation doesn’t mean disruption; it’s a valuable change that enables us to explore further and enhance our existing strengths.
For me, it is essential to accompany our clients in a proactive way. Staying informed about economic trends, workforce mobility, AI developments and evolving ESG expectations is now part of our responsibility, as it directly reinforces our duty-of-care principle.
Rethinking traditional approaches for me means balancing curiosity with structure, being modern and adaptable, and never settling for “this is how it’s always been done”. This ensures strategy is proactive and we lead with confidence in a world where change is constant.
It is easy to focus on technical execution – but I deliberately shifted my approach toward becoming a true strategic partner to my clients and colleagues.
How do you see your role evolving over the next three to five years, and what initiatives are you most excited to pursue as you continue to grow professionally?
I believe passion and curiosity are essential. Thus I aim to deepen my expertise not only in traditional captive strategy but also in emerging technologies such as AI and predictive analytics, which are reshaping the industry from risk modelling to operational efficiency. Beyond AI, I am deeply interested in trends such as ESG integration, holistic risk solutions and sustainable benefit design – areas leaders in our field increasingly see as defining the future of captive strategy.
Most importantly, I want to continue providing best-in-class service – not just technically, but relationally. Our industry is complex and technical, but it is fundamentally human. Growth, for me, means mastering both dimensions: financial sophistication and emotional intelligence.
Many of the FORTY Under 40 winners are recognised for both business success and broader impact – how do you balance professional excellence with contributions to your community or industry landscape?
For me, professional excellence and broader impact are not separate ambitions: they reinforce one another. I’d go even further; professional excellence is the foundation of broader impact on our community.
By delivering strong results, you earn credibility. With credibility, you gain influence. And with influence, you can shape standards.
I aim to contribute not only through results, but through attitude: sharing knowledge, bringing out the best in each other, and promoting genuine collaboration. Real impact isn’t just measured in numbers; it lies in the way we lift others up and help shape our industry for the better, always with good spirits, authenticity and a commitment to excellence.
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