FORTY under 40: Enoch Starnes
Enoch Starnes, risk consultant, SIGMA Actuarial Consulting Group.
Enoch Starnes is a captive and complex risk consultant at SIGMA Actuarial Consulting Group. As the son of a statistics professor, he might well have been destined for the world of data and analytics, but his interest in the actuarial field was engaged at the University of Tennessee at Knoxville, where he gained a BSc in mathematics. Before entering the actuarial profession, he had brief spells in special education, football coaching and statistical analysis before joining SIGMA in 2013.
How did you first become involved in captive insurance?
My initial position as an actuarial analyst at SIGMA centred primarily on clients with more traditional insurance programmes, such as large deductible policies. As this expanded into working with captive owners and managers, I was drawn to the challenges and opportunities presented through the actuarial analysis of captives. This culminated in attending the ICCIE's associate in captive insurance (ACI) programme, which I completed in 2020.
What are the greatest challenges of working in this industry, and what do you find most rewarding?
One of the first aspects of the actuarial consulting field I encountered was colleagues’ lack of knowledge of actuarial analyses. This is understandable, as actuarial science isn’t necessarily for the faint of heart, but I always found it troubling that the work I provided to my clients might be found overly complex or intimidating. This is often compounded for my captive clients, as captive owners and, in some cases, service providers, often have even less exposure to the traditional insurance industry, thus less familiarity with actuarial analytics.
I am truly blessed to have met many of colleagues in this industry and would love that opportunity to be passed on
Fortunately, I feel I’ve inherited whichever gene makes one likely to enjoy teaching, and as challenging as this lack of knowledge might be at times, it offers rewards in equal measure. My role at SIGMA also includes helping lead our educational efforts, which range from our actuarial resources on RISK66 to speaking at various conferences and universities. As part of these efforts we have spent significant time focusing on the captive industry and helping colleagues and clients better understand how best to utilise actuarial analyses in their long-term captive strategies.
Would you recommend the captive insurance industry to young people as a future career path?
I absolutely would. While understanding the functions and strategic benefits of captives does require some level of dedication, the benefits of working in this industry are numerous. On top of the potential for career growth, anyone looking to join the captive field will be met with a diverse, engaging community of professionals. I am truly blessed to have met many of my colleagues in this industry and would love for that opportunity to be passed on to those seeking a path for their own careers.
What developments do you see ahead for captives?
At the risk of sounding too vague, I’d say continued evolution and expansion are most likely for captives. The types of policies and risks placed into captives have already evolved significantly since I joined the industry, and it's difficult to see that process diminishing soon. Between the rapidly evolving risk landscape and creative solutions developed by my captive colleagues, this industry will continue to cement its status as the forefront of innovative insurance policies.
That evolving landscape, of course, is also creating further pressure in the traditional insurance market, particularly for property. I’ve already seen a surge of inquiries at SIGMA by clients seeking to place some segment of their property exposure in a new or existing captive. Time will tell how this expanded use of a captive will impact their ultimate longevity, but I think it's possible it will "open the door" to further usage by captive owners.
Do you think your long-term future remains in the captives market?
I certainly hope that it does. I've already mentioned the diversity and engagement of the professionals in the captive community, but I also want to emphasise how welcoming they have been throughout my career. It's been a wonderful experience to work with and come to know the individuals in this field, and it would be highly fulfilling to continue to do.
Click here to read Captive International’s third FORTY Under 40 2025 publication.
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