FORTY under 40: Shoshanna Simmons
Shoshanna Simmons, Director of risk management & underwriting, CIC Services
Shoshanna Simmons administers and oversees all client aspects of underwriting, and risk mitigation throughout the captive formation, retention, and management process.
She has more than 15 years of risk management and insurance experience. Simmons graduated from Kennesaw State University with a BSC in psychology and obtained her MBA from Argosy University.
Prior to joining CIC Services, Simmons served as the risk manager for The Integral Group in Atlanta, Georgia. She created and managed the company’s corporate insurance programme through individualised risk mitigation strategies within enterprise risk management, underwriting, claims management, property management, safety, compliance, and regulatory reporting standards.
She holds her Property & Casualty Insurance licence, participates in multiple professional insurance organisations and is a member of the Risk Management Society.
“Most rewarding has been the level of creativity I get to tap into when customising coverage for each business owner.”
How did you become involved in captive insurance
I first became involved in captive insurance three years ago when I started here at CIC Services.
What are the biggest challenges of working in this industry, and what do you find most rewarding?
Most challenging has been the lack of knowledge that standard insurance agents, brokers, and carriers have about our industry. This gives us a new opportunity with each interaction to teach what a benefit having a captive can be.
Most rewarding has been the level of creativity I get to tap into when customising coverage for each business owner and knowing that I am helping to create something to protect their business.
How would you recommend the captive insurance industry to young people as a future career path?
Getting the younger generation involved in the captive industry is all about knowledge and opportunity. More entry level and junior roles need to be created so that college age individuals can learn and build out the captive industry workforce.
What developments do you see ahead for captives?
The captives sector is growing leaps and bounds yearly. I believe we will see a lot more development in the areas of property, healthcare, environmental, as well as enterprise risk.
Do you think your long-term future remains in the captives market?
Yes, I enjoy what I do every day. I plan to stay in the captives sector for many years to come.
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