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1 June 2024NewsAnalysis

FORTY under 40:Matthew Moore

Matthew Moore, Head of captives, The Hartford

Matt Moore is responsible for all aspects of The Hartford’s captives business. He joined the captives insurance team in 2023 as the underwriting leader. Prior to that, he was an executive practice leader in national accounts. Moore has distinguished himself as a skilled underwriter and leader whose business acumen has produced consistent growth and retention results. His leadership will help guide the captives division into its next evolution, becoming an even greater contributor to profitable growth for The Hartford.

Moore has been with The Hartford for more than 14 years and is a graduate of the Finance Leadership Development Program. He is a graduate of Bryant University where he majored in finance and marketing, and he has the Associate in Risk Management designation. Moore is currently based in Chicago.

How did you become involved in captive insurance?

In 2023. I had an extensive background in loss-sensitive underwriting within our national accounts team, which allowed me to take on a leadership role for the captives team. I am fortunate to work with a tenured team with extensive experience within captives.

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

Creating insurance solutions for risk managers, or owners, who want to take their passion for safety and risk management to create a lower total cost of risk through a captive is the most rewarding. It is one of the few scenarios where the carrier and insured are closely aligned and rewarded for their risk management efforts. The relationships we build along the way with brokers, captive managers, captive consultants, and insureds make it that much more rewarding.

I believe the biggest challenge for the captives industry is that we are transitioning from boutique to main street. The demand for captive insurance solutions will continue to grow in prolonged hard markets, but we need to make sure to build a pipeline of talent to support that growth.

“You are able to focus on providing complex insurance solutions and build deep relationships in the industry.”

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

We need to do a better job of signalling what a great career path captive insurance can be for young professionals. You are able to focus on providing complex insurance solutions and build deep relationships in the industry. Captive insurance provides a unique opportunity to join an industry that is growing rapidly. If you enjoy travelling it provides some great opportunities to see the world for work.

What developments do you see ahead for captives?

I believe the world of captives will continue to grow. Social inflation will force businesses to explore alternative risk management solutions, which will only benefit the popularity of the industry. It will be interesting to see the impact of AI on the sector. It could assist in lowering the barriers of entry to build or join a captive, which will only aid in growing popularity.

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

Yes. I often tell people that I have the best job at The Hartford, and I am lucky to lead a great team. I look forward to growing The Hartford’s brand as a solution within the captives marketplace, and I know it will take hard work to achieve the plan we have in place.

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