Influential Women in Captive Insurance: Lori Gorman
Lori Gorman, Deputy Commissioner, Captive Insurance Companies Division, NCDOI
Lori Gorman is a CPA and has been with the North Carolina Department of Insurance (NCDOI) for more than 15 years, serving in several roles prior to joining the Captive Insurance Companies Division, most recently as assistant chief financial analyst with the department’s financial analysis section of the Company Services Group.
Before joining the NCDOI, Gorman worked in public accounting and in the insurance industry, including serving as the director of internal audit with the former Durham Life Insurance Company.
How did you get started in the captive insurance industry?
I was appointed as Deputy Commissioner for North Carolina’s Captive Insurance Companies Division when my predecessor Senior Deputy Debbie Walker retired in 2022. Previously, I had worked with the NCDOI for over 15 years, most recently as assistant chief financial analyst responsible for regulatory oversight of the state’s foreign and domestic traditional insurers.
Who inspired you or acted as a mentor in your career?
This is an area where NCDOI may be somewhat unique as I have been fortunate to have observed women in leadership positions throughout my career, which is not always the case. Debbie and I were coworkers prior to my joining NCDOI, and I have learned so much from our Chief Deputy Commissioner Jackie Obusek, who first hired me as a financial analyst years ago.
These women have each demonstrated a strong commitment to the insurance consumers in our state and I value their mentorship.
What do you think deters people from entering the world of captives?
Captive insurance is a relatively new and somewhat niche industry. As captive insurance becomes more widely accepted, and colleges and universities increasingly include risk management programmes as part of their curriculums, awareness of insurance and captive insurance career opportunities should follow.
By statute, our state agency positions require analysts to meet certain educational requirements.
How can mentorship and sponsorship programmes be designed to better support the career development of women?
It is important to support all new hires so that they can integrate into the organisation more quickly and sharpen their skills to be better prepared for career advancement opportunities. Developing presentation skills and facilitating professional growth are some ways to quickly engage women new to the industry.
“It is important to support all new hires so that they can integrate into the organisation more quickly.”
In what ways can companies in the sector create a more inclusive culture that actively promotes gender diversity at all levels?
As the regulator, our state agency has equal opportunity hiring practices in place. Open-door communication policies and exposure to frequent networking opportunities where professionals can connect, ask questions and exchange ideas help foster the development of strong working relationships and more inclusivity which is beneficial at all levels.
What challenges are gender-specific to women in the captives industry?
Often women have less established business networks than their male counterparts and may be hesitant to take advantage of growth opportunities as they feel the need to balance career ambitions and family responsibilities.
What solutions would you like to see?
Continued education and support will be key to addressing these challenges.
What are your ambitions?
I would like to see North Carolina grow as a captive insurance domicile while further developing our staff members to respond to the evolving needs of the industry.
Click here to read Captive International’s first Influential Women in Captive Insurance publication, celebrating the women transforming the captive sector through their sustained excellence and leadership.
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