From sceptic to believer
Insurance isn’t a first-choice profession for a lot of, owing to the general public’s lack of familiarity with the trade.
Even the most effective and brightest in insurance coverage often say they began their careers accidentally.
“I definitely did not choose an insurance career by design,” Margaret To, CEO of specialty insurer Chaucer Singapore, instructed Insurance Business, regardless of majoring in actuarial science and threat administration in college.
“Unless you have friends or family who work in the industry, you wouldn’t have the exposure or knowledge, and therefore wouldn’t aspire to work in insurance.”
In truth, To initially had a poor notion of insurance coverage, however she grew into profession spanning 20 years, and counting.
“After I graduated I didn’t know much about the industry and had been sceptical about the insurance industry growing up. It was tainted by stories about the unprofessional behaviour of life insurance agents,” she mentioned.
To initially utilized for jobs at a number of banks, however acquired no response. Then in the future she was invited to work for dealer Johnson & Higgins in Hong Kong (which was later acquired by Marsh). She spent three years with J&H, engaged on infrastructure improvement for his or her energy, railway, and utilities tasks in Asia.
She later shifted to Allianz, the place she entered the underwriting aspect of the enterprise. In 2009, she joined Chaucer Singapore, initially as a senior underwriter.
She grew to become CEO in 2014.
“I feel very fortunate to be part of Chaucer, which has been a key contributor to the establishment of Singapore as the largest insurance hub outside of London,” she mentioned.
As lucky as she mentioned she has been in her profession, To mentioned extra work wants to be finished within the trade to guarantee different vivid sparks discover their manner into insurance coverage.
“We need to show them [young people] what a positive difference the industry makes to the world,” she mentioned. “By supporting enterprise dangers we allow them to develop – our trade is an integral a part of the financial system.
“The path for achievement is just not a brief one – it takes time to accumulate years of data by way of practise and publicity. [But] the rewards are nice.”
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