Influential Women in Captive Insurance: Michelle Sivanayson
Michelle Sivanayson, Managing director, region leader–Islands, Marsh Captive Solutions
As leader of the Islands region captive practice, Michelle Sivanayson is responsible for the overall client service, operational strategy, and management of the Bermuda, Cayman Islands, and Barbados offices within the Marsh Captive Solutions practice.
She establishes growth and retention strategies, ensures success of the client experience, trains and mentors, and oversees performance management for colleagues for the region as a whole. In addition, she serves on the Marsh Captive Solutions global executive team.
Sivanayson joined Marsh Captive Solutions in May 2004 originally in the Bermuda office as an account manager where she managed a portfolio of captive insurance clients overseeing their day-to-day operations.
After three years, she moved to Marsh Canada and joined the captive operations group in Halifax, where she spent the next 16 years in various roles. During this time, she became the global operations leader for captives, leading and overseeing the Halifax and Mumbai operations’ teams. In this role Sivanayson led a team of over 150 colleagues fostering a positive and collaborative work environment by setting direction and empowering colleagues to actively work towards Marsh’s goals for captive insurance, overseeing global initiatives and data-driven decisions that elevated the operational performance of the practice.
Prior to joining Marsh, Sivanayson worked in a Toronto-based company as a financial controller. She was responsible for financial reporting, HR, budgeting, pricing and the overall day-to-day management of the company.
How did you get started in the captive insurance industry?
I joined Marsh Captive Solutions in Bermuda 20 years ago and have been with Marsh and the captives practice in a variety of different roles and global locations. I had not planned to be in the sector per se; it was most certainly by chance. My husband was moving to Bermuda for work and it so happened that Marsh had a role open for an account manager on the Island.
Who inspired you or acted as a mentor in your career?
I have been privileged to have many mentors and those who inspired and continue to inspire me throughout my career. I am surrounded by colleagues at every level in Marsh, who help me to be a better leader, better colleague and a better person on a daily basis. I have been very lucky with having great bosses who challenge and guide me at the same time.
What do you think deters people from entering the world of captives?
The fact that many people are not familiar with the concept of captives is what limits people from entering the sector. However, if I were to compare where we were 20 years ago to where we are today, I feel we have made leaps and bounds in the world of captives and we are seeing this with the increased number of locations introducing captive legislation.
How can mentorship and sponsorship programmes be designed to better support the career development of women?
Women support women. This has always been the case for me at Marsh, whether it’s mentorship from the captives team or the broader Marsh team. Successful programmes require active listening and support from the broader organisation to succeed and create fulfilling experiences for both the mentor and the mentee.
Informal mentorship programmes can also work—sometimes it starts with a simple request: ‘can I spend some time with you to better understand your career journey and any guidance you can provide?’.
“It is important for the entire industry to develop strategies aimed at educating those in high school and university.”
In what ways can companies in the sector create a more inclusive culture that actively promotes gender diversity at all levels?
Across the industry, we’ve seen challenges with recruiting young talent to the field. As I mentioned earlier, I think the biggest challenge is that people are unfamiliar with captive insurance. It is important for the entire industry to develop strategies aimed at educating those in high school and university about the dynamic world of captive insurance.
These programmes can cover a variety of fields, from accounting and finance, to insurance management, and new business development. I believe this will lead to a more inclusive approach that promotes gender diversity and career paths in the field.
What are your ambitions?
My hope is that I am able to inspire and influence those around me and share the knowledge I have gained during my career.
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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