FORTY under 40: Lara Ribeiro

Lara Ribeiro,Head of account management–Captive EB Services, Aon

Lara Ribeiro’s career started in Rio de Janeiro, Brazil, where she worked at Sodexo for three years. During that period, she had the opportunity to experience how employee benefits (EB) can impact organisations. In 2013, she joined Generali Employee Benefits (GEB), where she spent nearly a decade in various EB captive management roles.

In 2022, Ribeiro accepted the opportunity to move to the consulting side of the business, and she joined Aon as head of account management for the Captive EB Services team. Her current role focuses on supporting clients throughout their EB captive journey, from implementation to managing the daily activities with different key stakeholders.

“There’s untapped potential in leveraging data management and analysis alongside targeted health and wellness solutions.”

How did you become involved in captive insurance?

My journey in the captive insurance industry kicked off in Brussels, Belgium. After graduating from KU Leuven University with a degree in business and management, I joined GEB, where I managed captive programmes. This experience ignited my passion for supporting clients in using their captives as a tool for the risk management of employee benefits, leading me to my current role at Aon since 2022.

What are the biggest challenges of working in this industry and what do you find most rewarding?

Over the past decade, I’ve seen significant growth in the captive insurance industry, especially in my focus area, EB programmes. It’s fascinating to witness the potential that captives hold for organisations worldwide. Looking ahead, I believe there’s untapped potential in leveraging data management and analysis alongside targeted health and wellness solutions, particularly for managing complex captive programmes with high exposure to medical and disability risks.

Would you recommend the captive insurance industry to young people as a future career path?

One of the biggest drives in my current role is helping younger generations see the potential in the industry and support their development. Raising awareness and engaging them in the captive insurance field is crucial. We should collectively highlight promising career prospects and learning opportunities for professional growth to attract fresh talent to the industry.

What developments do you see ahead for captives?

I anticipate significant developments in data analytics, enabling captive clients to gain deeper insights into claims behaviours and allowing captives to adapt swiftly to dynamic scenarios. In recent years, we have witnessed unpredictable circumstances, such as the COVID-19pandemic and geopolitical tensions, which have challenged us all.

At the same time, these events allowed corporations to support their employees and positively impact society during such a demanding period.

Do you think your long-term future remains in the captives market?

I envision myself remaining deeply involved in the captive insurance industry. The diversity of career opportunities, coupled with the constant challenges and rapid growth, reaffirm my commitment to contributing to the industry’s ongoing success.

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