Building an insurance business (and career) by focusing on people
Attracting and retaining diverse talent is key to insurance-industry innovation, says Janet Jordan-Foster with Axis Wholesale.
Janet Jordan-Foster has been in the insurance industry for more than 30 years. She started her career as a casualty underwriter in one of AIG’s commercial lines companies before moving to a small managing general underwriter after 5 years and later joined Home Insurance Company in its specialty lines division where she learned about the Excess and Surplus Lines business.
When Home’s business was acquired by Zurich Financial Services, Jordan-Foster was responsible for Zurich’s primary casualty and rail businesses and later its healthcare business before she joined AXIS in 2007.
Today, she leads the primary casualty business within AXIS Wholesale, which focuses on writing business for wholesale brokers throughout the United States.
Having spent half her career with AXIS, Jordan-Foster is proud to have played a role in helping the company expand its leadership position in the specialty channel and grow its global platform. The company’s focus on people — both customer relationships and talent — has always resonated with her, and she is particularly proud of recent awards that have recognized AXIS as a great place to work with a diverse and inclusive culture.
Outside of work, Jordan-Foster loves to entertain friends and family. She also enjoys art and visiting museums, galleries and artist studios in Brooklyn, where she lives with her husband. PropertyCasualty360 recently caught up to Jordan-Foster to hear more.
PC360: Discuss the importance of diversity and inclusion efforts in the industry.
JJF: Diversity, equity and inclusion (DE&I) are so critical for all industries, but until recent years the insurance industry had been somewhat slow to embrace the tenets of DE&I. Today, there is tremendous work taking place and so much collaboration happening throughout the industry; it is truly incredible to be part of the progress that is taking place.
The Wholesale & Specialty Insurance Association Diversity Foundation is helping member firms bring greater awareness to the critical need for DE&I in our industry. Attracting, developing and retaining diverse talent is absolutely crucial for the growth and innovation yet to come in our segment of the industry. While larger brokers and carriers have been at the forefront of the work that is occurring, the WSIA Diversity Foundation has launched many successful programs for its members to drive awareness and provide tools to help in their learnings. The foundation has also formed a speaker’s bureau made up of industry professionals that engages with Historically Black Colleges and Universities (HBCUs) to educate and inform minority students about the benefits of and the breadth and depth of careers in the insurance industry. Much work needs to be done, but I believe, as an industry, we are on the right path.
PC360: How would you describe the insurance industry to someone considering it for a career?
JJF: I would describe the industry as dynamic and challenging with professionals who are smart, curious and innovative. The often-changing landscape of risk and reward provides a great many opportunities for attracting talent.
PC360: What are some of the biggest misconceptions about the industry?
JJF: One of the biggest misconceptions is that this is not a fun and exciting industry to work in. This could not be further from the truth. We need to do a better job of selling the benefits of this industry: the incredible people that work in this industry, the positive ways in which we serve and support our customers and communities, the breadth of roles and career paths available, the remuneration and health and retirement benefits, and the ability to travel and meet new people.
PC360: What’s going on in the industry right now that surprises you?
JJF: I am surprised but extremely pleased by the level of collaboration taking place within the industry on issues of significant importance whether on DE&I, ESG, technology, or cyber threats, to name a few. I believe we have reached a point of realization that these issues are too great for companies to address on their own and we need to work collectively, encourage more diversity of thought, and accumulate greater intellectual and financial capital to find solutions to the myriad of issues confronting our customers.
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