FORTY under 40: Julia Schroeck
Julia Schroeck, Senior captive account manager, Hylant Global Captive Solutions
Julia Schroeck joined Hylant Global Captive Solutions in 2022. She is based in Charlotte, North Carolina. Previously, Schroeck worked for Strategic Risk Solutions from November 2016 to June 2022 in Charleston, South Carolina, where she managed single-parent captives, cell captives, group captives, and risk retention groups.
Prior to that she was a staff accountant at DeMarco Wachter & Co from August 2014 to November 2016 in Erie, Pennsylvania.
How did you become involved in captive insurance?
My arrival to the captive insurance industry was rather unexpected. I am originally from Erie, Pennsylvania, where I was born, raised, attended college, and started my adult career as an accountant. I was working at a public accounting firm in 2016 with another blistery winter right around the corner when I felt the urge that most people from Erie do—to leave the snow behind and head south.
I started looking for jobs in public and private accounting in Charleston, South Carolina, but was not having much luck until my mother reminded me that we had a close family friend who used to live there. I gave him a call and asked if he knew anyone who needed an accountant, and within 30 minutes he had connected me with Laura Rodrigo from Strategic Risk Solutions who I interviewed with just a few days later. I ended up working for the first 5.5 years of my career in captive management.
“Conferences are a great way to make personal connections.”
What are the biggest challenges of working in this industry, and what do you find most rewarding?
The biggest challenge that I’ve seen developing over the past few years is that we, as an industry, are growing at an exponential rate and almost everyone I talk to agrees that it has been difficult to find experienced talent and keep up with the growth in business. In the past, our industry has been strong and mighty, but relatively small compared to others. That means there is a limited amount of experienced talent for all of us to share.
However, on the flipside, the supply and demand issue has also been a breeding ground for opportunities to develop young talent from the ground up. One of the most rewarding things to see has been watching the young talent grow with sincere confidence and willingness to step up to the plate.
As I am writing this, I have no idea who else has made the FORTY Under 40 list this year, but I am willing to bet, sight unseen, that each and every individual is exactly what I’ve just described: a hardworking, confident powerhouse, and reading the list will be a reward for me.
Would you recommend the captive insurance industry to young people as a future career path?
The captive insurance industry is a niche sector within the broader insurance industry. It offers a distinct set of challenges and opportunities that make it intellectually stimulating and professionally rewarding. From underwriting and risk management to legal and regulatory compliance, there are plenty of opportunities globally for individuals with diverse skillsets and interests who seek innovative solutions.
Additionally, there are endless opportunities for professional development and education for those who are interested in participating in industry events and conferences. Conferences are a great way to make personal connections. I’ve been going to these events for almost eight years now, and I have made sincere friendships with many of my colleagues in the industry that go deeper than just professional connections.
What developments do you see ahead for captives?
I see technology such as artificial intelligence (AI) having a major impact on the way we operate. We’ve only just started scratching the surface of what we can do with data analytics for improving risk management and assessment. However, with the rise of AI also come the risks associated with cyber threats, which is on the rise in the insurance industry.
Captives are in the perfect position to address cyber liability coverage issues as we have the flexibility to be as creative as we need to be to meet the demands of our clients.
Do you think your long-term future remains in the captives market?
I can see myself staying in the captive insurance market for a long time, yes. First of all, I am very good at it, which makes me a hot commodity given the supply and demand issues we’ve all been facing in terms of staffing while we continue to see exponential growth in our industry.
Even if I wanted to leave captive management (which I don’t), I don’t think any of my industry peers would let me get very far before pointing out all the other great career opportunities there are within the industry beyond just managing captives.
Lastly, I would find it very hard to leave behind all the strong professional and personal connections I’ve made with my peers over the years—they would miss me too much.
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