FORTY Under 40: Eric Funk

Eric Funk, account executive with Risk & Insurance Strategy Collective (RISC).

Funk plays a significant role with Risk & Insurance Strategy Collective (RISC), a specialty practice within NFP delivering tech-forward alternative risk, captive consulting and captive management solutions. 

He provides day-to-day insurance, regulatory and financial oversight for a diverse portfolio of pure captive insurance companies, group captive cells and risk retention groups. And he is deeply involved in all facets of captive operations, working closely with clients, producers, and service providers to ensure strong governance, regulatory compliance, and high-quality service delivery. 

Prior to joining RISC, Funk served as a senior account manager at Aon and began his career in the banking industry, where he developed a strong foundation in client service, sales training and operational excellence. Known for his ability to anticipate client needs and solve problems creatively, he brings a thoughtful, strategic approach to captive management. 

Funk graduated with honours from Saint Michael’s College in Colchester, Vermont, with a BS in accounting. He is an active member of the captive insurance community through organisations including VCIA, VCIEL (where he serves on a core committee) and CICA.

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 the past year, the accomplishment I’m most proud of has been my engagement with the captive insurance community beyond my day-to-day role. Through hosting virtual networking events, presenting at industry conferences and connecting with students and staff at my alma mater, Saint Michael’s College, I’ve focused on making the industry more accessible and connected. 

Becoming a FORTY Under 40 finalist has reinforced the value of that work. It highlights how important outreach, education and mentorship are to the future of the captive industry and motivates me to continue investing time in strengthening the community that has shaped my career.

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?

One key challenge this year was stepping into greater leadership responsibilities – not only with clients, but also with colleagues and peers across the captive insurance community. As my role evolved, I had to learn how to mentor and support others effectively while still delivering for clients in a complex and fast-moving industry. I overcame this by listening more, being intentional with my time and focusing on how I could add value through guidance rather than direction. 

That experience taught me an important lesson about leadership at this stage of my career: it’s less about individual expertise and more about empowering others, building trust, and helping people grow, both internally and externally within the captive industry.

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?

Within the captive insurance space, I’ve focused on pushing innovation by rethinking how we educate, connect, and engage both clients and peers. Rather than treat captives as static structures, I’ve worked to encourage more open dialogue – hosting virtual networking events, creating forums for knowledge-sharing and helping bring technical concepts into more accessible, practical conversations. I’ve also tried to bridge the gap between experienced professionals and emerging talent by supporting outreach to students and early career professionals. 

The impact has been meaningful. Internally, it’s fostered stronger collaboration and a more proactive mindset around problem-solving. Externally, it’s helped clients and peers feel more confident engaging with captives as evolving strategic tools, reinforcing a culture that values curiosity, adaptability, and long=term thinking within the industry.

 Leadership at this stage is  less about individual expertise and more about empowering others, building trust, and helping people grow, both internally and externally.

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 see my role continuing to evolve from technical adviser to a more strategic leader – one who helps shape how clients, colleagues and the broader industry think about captive insurance as a long-term risk management solution. I’m excited to deepen my involvement in mentoring and team development while continuing to work closely with clients on increasingly complex and innovative captive strategies. 

I’m particularly motivated by initiatives focused on education and accessibility – expanding industry outreach, supporting professional development for early career talent and helping modernise how we communicate the value of captives. As the industry continues to change, I’m eager to play a role in strengthening collaboration, fostering new ideas and helping ensure the captive community remains resilient, relevant and forward-thinking.

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?

Balancing professional excellence with industry and community engagement is something I approach very intentionally. Delivering strong outcomes for clients is always the foundation, but I also believe meaningful engagement beyond day-to-day work strengthens both the individual and the industry. I’m deliberate about choosing opportunities – through education, mentorship and connection – that align with my values and allow me to contribute in a meaningful way. By integrating community and industry involvement into my professional growth, rather than treating it as separate, I’m able to stay focused, energised and purposeful while helping support the long-term health of the captive insurance community.

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