Milestone moments and bridging the gap

CICAS’s NEXTGen and Amplify Women initiatives are transforming the captive insurance industry.

Over the next decade, many senior insurance leaders will retire, taking their experience and knowledge with them, so there’s never been a better time to future-proof the industry and support its up-and-coming leaders.

Captive International looks at the Captive Insurance Companies Association (CICA)’s two major initiatives that have been instrumental in opening the door for the next generation of captive insurance leaders.

CICA’s ‘NEXTGen − young and new professionals’ initiative has, over the past five years, opened the door wide for emerging professionals to belong, contribute and lead. What began in 2019 as a small taskforce of fewer than 10 people grew into a strong community of more than 250 participants − and a cornerstone of captive insurance’s future.

“From my perspective, the biggest impact CICA NEXTGen has had on the industry is that it supported the creation of a sustainable pipeline of emerging talent and future leaders,” said Prabal Lakhanpal, of Spring Consulting Group, who previously chaired the group.

“Before NEXTGen, there was a notable gap in how the industry attracted, engaged and retained young professionals; NEXTGen has changed the narrative by not only building a community for early-career professionals but also giving them a platform to contribute meaningfully − whether through educational programming, mentorship opportunities or thought leadership.

“NEXTGen is more than an initiative − it is a legacy we are building together.”

“This initiative has made the industry more accessible and future-focused, helping ensure long-term vitality and innovation in a field that can otherwise seem niche or an insular space.”

The scheme’s purpose has been “to bring the voices of young and new professionals to the planning table to advise CICA on providing the education and networking, including the social networking, they are looking for to advance their captive careers” and started with a cross-section of captive owner, service provider and domicile/regulator members.

Together with CICA’s other successful initiative ‘Amplify Women’, the two programmes have over 500 people subscribed for updates, while more than 100 volunteers have given time to various committees. And through dozens of events, young professionals have connected with each other − and with seasoned leaders − on a scale not seen before in captives.

“Captive insurance is a complex niche industry. Therefore it is critical that young professionals feel connected to the industry through a network to talk through work-related issues, or get together for lunch,” said committee member Michael Zuckerman, of the Fox School of Business at Temple University. “NEXTGen’s most significant impact is providing a platform to gather, network and discuss common issues.”

The value of this scheme is, for many, personal as well as professional, as current co-chair Diana Hardy, of RH CPAs, explained: “NEXTGen has created a powerful platform for emerging leaders in the industry to connect, learn and grow. I’m most proud of how we’ve fostered a sense of community and connecting members from all different types of roles in the industry. It’s been inspiring and rewarding to help shape the next wave of captive leaders.”

Karen Hsi, previously on the committee, and employed at the University of California Office of the President, echoed that sentiment. “CICA’s NEXTGen initiative has served as a valuable platform for emerging professionals to cultivate meaningful connections with both seasoned experts and peers at similar stages in their careers.

“Through my involvement, I have developed enduring professional relationships and forged friendships that extend beyond the workplace. These individuals are not only trusted colleagues I can consult for business insights, but also genuine friends with whom I enjoy sharing life’s journey. It’s this kind of support and shared growth that makes NEXTGen so powerful − and I’m grateful to be a part of it!”

For those involved, the initiative has made navigating a new industry far less daunting, and current co-chair Bailey Roese, of Dentons Bingham Greenbaum, described her earlier experiences within the industry.

“I got involved with CICA NEXTGen when just starting out in the industry, and I’m so glad I did. By the time I attended my first captive conference, I already had a group of folks to seek out, which made me feel so welcome in a new space.

“Walking into a group of captive industry veterans can be intimidating, but CICA NEXTGen has allowed me to make my own way and connect with people just like me. I’m so grateful for this programme!”

Committee alumnus Adam Miholic, of Revantage, explained why the initial goal − making the industry more welcoming − blossomed into something bigger over the past five years. “When I started my career in the industry, my first conference experience was overwhelming and I felt isolated. Seeing the community and proactive involvement of young and new professionals at the latest 2025 CICA International Conference is one the accomplishments I am most proud of,” he explained.

“When we launched the initiative five years ago, we had a simple, yet significant, goal of expanding education and networking opportunities to individuals new to the captive industry. I believe the NEXTGen community has not only met that goal but far exceeded it in both scope and depth.”

This impact isn’t just felt by participants, but by their companies, too. Heather McClure, CICA chair and managing partner of Helio Risk, stated: “I have seen first-hand the impact CICA NEXTGen has had on members of our young professional staff and their colleagues in the industry. The education and networking CICA NEXTGen provide gives others the confidence and encouragement they need to fully participate in all aspects of captive service.”

That’s the kind of confidence that fuels lasting industry change. Lakhanpal reflected: “I consider myself lucky to be a small part of a much larger initiative that supported trying to bridge the gap between experience and fresh perspective. I’m especially proud of fostering real connections − seeing someone I mentored or collaborated with step into a new role or get recognised in the industry is incredibly rewarding.”

Dan Towle, president, Captive Insurance Companies Association, encapsulated the sentiments of those comments, saying: “NEXTGen is more than an initiative − it is a legacy we are building together. By investing in the next generation, we are not just preparing future leaders; we are creating a more connected, innovative and inclusive captive industry. That is the true mark of progress − and it is only just the beginning.

“Amplify Women has really become the voice of what are the possibilities in your insurance industry career.”

CICA’s Amplify Women celebrates its fifth anniversary

What does it take for a mission to become a movement? When the Captive Insurance Companies Association (CICA) launched Amplify Women in 2020, it started with a simple, but powerful, mission: to connect women in captive insurance with opportunities for education, networking and influence.

Five years later, that mission has become a veritable movement − one that’s shaped careers, broadened the industry’s horizons and is helping define the future of captive leadership.

“I’ve seen so many CICA Amplify Women members excelling in their careers and being recognised by peers in the industry, and I don't believe that's a coincidence,” said Cheryl Baker, current chair of Amplify Women and the former head of insurance at Stellantis. “Statistics show that diversity in the workplace leads to a stronger bottom line, so increasing opportunities for women to develop their careers, network, learn and grow is a win-win for women and the captive industry as a whole.”

The results speak volumes. Since its founding, Amplify Women, together with NEXTGen, has facilitated more than 40 educational events − both in-person and online − hosted 25 networking events, and helped boost the share of female speakers at the CICA conference to nearly 50% in 2024 and 2025.

That’s well above the industry average of around 30%, and a tangible sign that momentum is building.

But at its core, Amplify Women is about more than metrics − it’s about empowerment. “I have personally experienced the empowerment CICA Amplify Women has given to professionals who are entering or are new to speaking roles, leadership positions and service opportunities,” said CICA chair Heather McClure, CEO of Helio Risk & Insurance[RW1] . “Seeing women pivot between engaging as a learner to becoming a teacher, for example, has been one of the most rewarding highlights of my career in captives.”

That transformation is happening across all levels and roles. Committee member Courtney Claflin, a veteran of the captive industry, highlighted the structural change the initiative has been addressing: “I’ve witnessed over 40 years of my career how underrepresented women are in leadership positions and how they can have limited opportunities. Amplify Women has the resources to help women get to where they want to be, and I’m extremely pleased with the results we have seen and the lives we have changed with our efforts.”

Importantly, the initiative is inclusive, and welcomes allies, such as subcommittee member Mike Posko, assistant vice president, Old Republic, who said: “I joined Amplify Women along with many others to make the industry better tomorrow than it is today. It has been enriching in my participation to hear the different perspectives and experiences that my fellow members have walked, giving me a better understanding of others, both personally and professionally.”

The sense of community and belonging offered by this initiative has been a game-changer, and former chair Anne Marie Towle, CEO of Hylant’s global captive solutions unit, noted the way Amplify Women supported professionals throughout all phases of their lives and careers: “From a professional perspective, it’s that networking aspect and knowing who to go to with technical questions; having support as you’re going through your career and being able to call people in the industry you’re comfortable with asking those questions.

“From a personal perspective, if you’re starting a family or have teenagers or parents that you’re taking care of, we’re able to share those stories and go through the day-to-day change that happens within our lives as well as our companies. That support is pretty incredible.”

For Anjanette Fowler, prior chair and managing director at PNC Institutional Asset Management, the bonds formed through Amplify Women are transformative: “It really becomes a community to the extent that you often don't feel as though you're working. We are conducting business, but we’re doing it with some of our best life-long friends that we've met through Amplify Women.”

She added: “Amplify Women has really become the voice out there of what are the possibilities in your career as a young woman entering the insurance industry, where you could go and what exciting opportunities could await you here, and that's what I'm most proud of. Just creating that awareness has really made all the difference in the world. I’m seeing that play out in younger professionals coming into the industry with an enthusiasm and excitement that is so palpable.”

Amplify Women’s legacy is still evolving, but its foundation is solid, with meaningful relationships, visibility for women and a realignment of what’s possible in the captive space.

CICA president Dan Towle is proud of the accomplishments of the initiatives. He added: “Contributing to CICA NEXTGen and Amplify Women has been rewarding, with noticeable industry impact through networking, education and development opportunities. These programmes will significantly influence the future generation's personal and professional success.

“Many volunteers have collaborated to advance these initiatives. Their support and dedication contribute significantly to the success of these programmes, demonstrating that positive changes in the industry are achievable.

“CICA is very proud to spearhead these initiatives for the captive insurance industry.”

To find out more visit www.cicaworld.com

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