IN-the-Know The Institutes CPCU Society

Joe Paduda is the principal of Health Strategy Associates and the author of the thought-provoking Managed Care Matters blog. He is also the president of CompPharma, LLC, a research and consulting firm dedicated to improving pharmacy programs in workers’ compensation. In 2012, Joe received IAIABC’s President’s Award for his efforts to address the opioid problem in workers’ compensation. He currently participates in the “Comparative Effectiveness of Two State Payer Strategies to Prevent Unsafe Opioid Prescribing” research project funded by the U.S. Department of Health and Human Services’ Patient Centered Outcomes Research Institute. Before starting his consulting business in 1997, Joe held executive positions with major insurers, including Travelers, United Healthcare, and Liberty Mutual, and earned a Master of Science degree in Health Management from American University. In today’s episode of the In The Know podcast, Chris Hampshire and Joe dive into the current state of the workers' compensation space, positive changes that have already been made, and where the industry needs to go from here to remain relevant and successful.
 
Key Takeaways
 
Joe highlights his career path in the workers’ comp sector.
Appealing aspects of the workers' compensation space.
The role of functionality is the efforts of workers’ comp.
Three primary sectors that turn to workers’ comp and what they are looking for.
Insights into the current positive state of the workers' compensation industry.
The dangers of underinvesting in technology in insurance.
Major post-pandemic changes to the workers' comp industry.
The current climate of activity in the regulatory environment.
Insights from the evolution of the Managed Care Matters blog.
Joe’s thoughts on the pros and cons of workers’ comp conferences.
The future of workers' compensation, according to Joe.
Strategies for attracting quality talent to the insurance industry.
A five-year look at the future of the industry.
Joe’s advice to his early-career self.
 
Quotes
“Workers’ comp is the only healthcare system that cares about functionality.”
“In workers’ comp, we care about the health part of healthcare.”
“Good medical care drives positive outcomes.”
“The more there is honest debate around a lot of topics, the better off we’re going to be.”
“I hope people will get more conversant with and invest more intellectually in what’s driving the healthcare system.”

Melissa Burt DeVriese is the President at Security First Insurance Company. She has been with Security First Insurance Company since 2009 and has been President since March 2020. Before serving as President, she held a variety of roles, including Chief Administrative Officer and General Counsel. Melissa holds an undergraduate degree from the University of Miami and a Juris Doctorate from Georgetown Law Center and is a licensed attorney in Florida, Washington D.C., and California. Before working at Security First, Melissa held a variety of legal and regulatory roles in Washington D.C. In today’s episode of the In The Know podcast, Chris Hampshire and Melissa discuss the state of the homeowners market in Florida, attracting more talent to the industry, and unique challenges Melissa faces in her role.
 
These onsite episodes of the In The Know podcast are brought to you by Gallagher Bassett.
 
Key Takeaways
 
Melissa recalls her journey from law to insurance.
Overcoming shortcomings in marketing the insurance industry.
Melissa’s experience as a female leader in the industry.
Effectively keeping up with technologies from a small carrier’s perspective.
Industry evolutions in recent years, including diversity and attracting talent.
Tactics and strategies for attracting and retaining personnel.
The evolution of distribution strategies for both direct and agents.
The current state of the unique Florida insurance marketplace.
Key differences in approaching the Florida marketplace.
Technology’s role in the future from the underwriters' standpoint.
Melissa’s experience with the CPCU, insurance board, and education involvement.
Messaging that needs to be shared with the rising generation of talent.
Hiring insights and career progression from a president’s perspective.
A five-year look at the future of the insurance industry.
Melissa’s advice to her early career self.
 
Quotes
“There are many similarities between the law and insurance.”
“Unfortunately, I think insurance is viewed as very stale and old and probably male. And the fact of the matter is, that’s not the case.”
“We have so much innovation in the industry space.”
“If we find the right person with the right aptitude and the right attitude, we teach them insurance.”
“From an insurance marketplace perspective, Florida is incredibly unique.”
“The most important thing you can stress to someone who’s looking for a career at any stage of their career life cycle would be what insurance does in society.”

Sandip Chatterjee is the Executive Vice President of Client Management & Innovation at MedRisk, leading the Account Management organization. He also leads the Product & Innovation for MedRisk where he is responsible for the creation of new solutions to drive improved experiences and outcomes for MedRisk Customers and Partners. Prior to joining MedRisk, Sandip was a Managing Director at Marsh McLennan leading the Analytics Delivery Organization for North America. Sandip has 20-plus years of experience in insurance and building and launching disruptive solutions to drive business growth and profitability.
 
In today’s episode of the In The Know podcast, Chris Hampshire and Sandip discuss analytics, highlight the impact of advanced technology in the insurance space, and offer updates on managed medical in the workers' compensation segment.
 
Key Takeaways
 
Sandip highlights the background of his insurance career.
The appeal of the data analytics sector of the industry.
Key data interpretation differentiators between a TPA, broker, and managed medical provider.
Sandip’s advanced approach to analyzing data.
The evolution of “Big Data” analytics in the insurance industry in recent years.
The role of generative AI in using existing data to create new data.
Strategies for effective partner collaborations that drive better business decisions.
Sandip reflects on his experience as an analytic expert in the insurance industry.
Analytics is a powerful tool, but it is only one of many tools available.
Sandip addresses the talent shortage in the insurance industry.
A five-year look at potential changes to the data analytics aspect of the insurance industry.
Sandip shares the advice he would have liked his early insurance industry career self to know.
 
Quotes
“Each of these industries within insurance is answering different types of questions.”
“The data is good, but it only tells you part of the story.”
“There are more tools and solutions available… and better ways of analyzing the data itself.”
“It is becoming easier to use existing data to create new data.”
“There are a lot of different things that are happening in the data world today that are very, very exciting.”
“Analytics is a very powerful tool, but it is one of many tools.”
“There is a very strong purpose behind the insurance industry. We are trying to put life back together.”

Michael Koscielny, MBA, CPCU, CIC, ARe, AIC, API, AIS, AINS, is chief executive officer and founder of Born2Lead, LLC. He has over 40 years of experience creating effective teams and innovative processes for underwriting and pricing for various insurance companies. He currently serves as Director of Marketing for Graduate Programs at The University of Olivet. He is an instructor for The National Alliance CISR and CIC designations and a Facilitated CPCU Study Group Leader for The Institutes. Koscielny has held many roles for The Institutes CPCU Society, including 2017 global president of the CPCU Society Leadership Council, 2017‒2018 President of the Underwriting Executives Council, and 2023 President of the Society of Insurance Trainers and Educators. He has written numerous articles and given many presentations. He published his first book Born2Lead: Lessons in Leadership, in 2023. In today’s episode of the In The Know podcast, Chris Hampshire and Michael discuss his new book, the importance of training the next generation of leaders in the insurance industry, and the many mentorship and training experiences that led to success throughout his career.
 
These onsite episodes of the In The Know podcast are brought to you by Gallagher Bassett.
 
Key Takeaways
 
Michael shares his unexpected journey into the insurance industry.
Insurance became his calling when Michael realized that insurance serves as the next responder in natural disasters.
An overview of the unique demands of the Florida insurance market.
The “why” behind Michael’s short-lived retirement from the insurance industry.
Writing a book successfully starts with not telling anyone that you’re writing a book.
Michael shares additional steps to effectively writing and publishing a book.
Born2Lead highlights 13 attributes that address the reality that behaviors are not natural, they are learned.
Michael shares his experience with trust, one of the essential attributes that is outlined in his book.
Strategies for effectively training people and developing leaders.
Instilling leadership qualities in others starts with giving them opportunities they wouldn’t have otherwise.
Benefits of membership and active participation in the CPCU Society.
For Michael, initial leadership opportunities were met with hesitation but additional training and mentorship led to success.
Michael reflects on what he wishes he would have known at the onset of his career.
 
Quotes
“When there is a natural disaster, the first people there are the first responders. And when they leave, who’s next?”
“Most of the people I know in this business really care about the people they serve.”
“There is a real need in our marketplace today for teaching leadership skills to emerging leaders.”
“Acknowledge people, and not just the negative things they do.”
“When someone does a great job, I want everyone in the organization to know.”
“We’re all born to lead, it’s just a choice we have to make.”
“As I made those steps in my career, more opportunities came to me in my work life.”

Rosa Royo is the Director of Worker’s Compensation and Loss Prevention at Miami-Dade County Public Schools. A graduate of Barry University, Ms. Royo has been a Risk Manager for over 30 years and has specialized in Worker’s Compensation for the last 20 years. She is employed by Miami-Dade County Public Schools and supervises a high-volume customer-service-driven worker’s compensation program. In 2016, she relaunched the Rebuilding Me program to include providing athletic trainers, meditation, and cooking demonstrations to the district’s transportation yards, resulting in a reduction in claims of 61% over three years. In 2018 and 2022, Ms. Royo was recognized by Risk and Insurance magazine as a Risk All-Star. In 2019 she was a Comp Laude honorable mention and a Business Insurance Woman To Watch. She was awarded the Rosa Royo Legacy Award in 2023 by Bloom magazine. Under her leadership, the program was honored with its second Theodore Roosevelt (Teddy) award in 2023. In today’s episode of the In The Know podcast, Chris Hampshire and Rosa discuss the role that effective risk management plays in one of the nation’s largest school systems, the importance of incentives and education in employee engagement, and key components of the bright future of the insurance industry.

Omari Aarons-Martin is the Executive Director and Chief Operating Officer of the National African American Insurance Association, a 2,100-member 501c6 organization that works to diversify the insurance industry and provides professional development programming to its members. A champion of workplace inclusion and equity, Aarons-Martin has received recognition from Insurance Business America, the Greater Boston Chamber of Commerce and Business Equality Magazine for his leadership and volunteerism. He is a member of the Board of Directors for Big Brothers Big Sisters of Eastern Massachusetts and common cathedral, an outdoor congregational community for the unhoused, and serves on the Board of Trustees at Roxbury Community College. Aarons-Martin earned a Bachelor of Arts degree from Xavier University in Cincinnati, Ohio and Master of Divinity cum laude in Global and Community Engagement from Boston University School of Theology where he was a Howard Thurman Fellow and served as President of the Association of Black Seminarians. In today’s episode of the In The Know podcast, Chris Hampshire and Omari discuss the current and possible future state of DEI in the insurance workplace, the role that NAAIA is playing in training and connecting African American members of the industry, and the need for increased collaboration and connection across all facets of the insurance industry.
 
These onsite episodes of the In The Know podcast are brought to you by Gallagher Bassett.
 
Key Takeaways
Omari recalls his personal invitation into the insurance industry.
The most appealing aspect of the industry was his transferable skills.
The role that seminary theology training has played in Omari’s career.
Inclusion in the insurance industry is increasing at a promising rate.
DEI at the C-suite level is still a work in progress.
At NAAIA, members have access to extensive training and development.
Attracting new talent through professional development offerings for African Americans.
Tactics for better supporting and fostering professional DEI relationships.
Benefits of the accessibility of in-person versus virtual meetings.
The importance of collaborating and sharing ideas with your professional circles.
A five-year look at the future of the insurance industry.
Omari shares a few of the many things he would have liked to know at the onset of his career.
 
Quotes
“I now understand central motivation, what brings people to the table and what they really care about.”
“We’ve seen a lot of activity around diversity, equity, and inclusion — more conversations and more transparency.”
“There is still much more [DEI] work that we need to do as we look at CEOs, C-suite, senior manager roles to see inclusion really take hold.”
“We know that the way people move through the industry is in relationships.”
“Starting with an audit and assessment of the [DEI] environment where you are is key.”
“Finding the right solutions to close the [DEI] gap is really important.”