NAME: Betsy Knowles
NEW JOB TITLE: Charlotte, North Carolina-based senior vice president, marketing account executive at McGriff Energy
PREVIOUS POSITION: Hong Kong-based senior vice president, head of specialty of Greater China, Lockton Cos. (Hong Kong) Ltd.
INDUSTRY OUTLOOK: There is an increasing demand for specialists to handle clients needs. As risks are becoming more complicated, clients are expecting specific and innovative advice from their brokers.
GOALS FOR NEW POSITION: I am fortunate I have worked both as a risk manager and a broker in the energy, power utilities and renewables industries. McGriff has a very good reputation and solid client base in my field. My goals include reconnecting with my ex-peer risk managers and U.S. markets as quickly as I can, building a trusted partnership among clients, brokers and (re)insurance markets, providing effective and efficient risk solutions to my clients and sharing my prospects within the McGriff team.
CHALLENGES FACING THE INDUSTRY: With an accelerated move toward renewables (including offshore wind), the insurance capacity for coal-fired units is becoming limited. This is a challenge for some of our clients with coal generation assets. Meanwhile, offshore wind is relatively new in the U.S. and we need to learn from Europe and Asia to educate ourselves to better serve clients with offshore wind projects in the U.S. This will include bringing U.S. insurance markets on board to provide the additional capacity needed in this emerging field.
FIRST EXPERIENCE IN THE INDUSTRY JOB MARKET: I have been working in the energy and power utility area for a long time. My first job out of college was working at North China Power Group, a vertically integrated power company based in Beijing. That companys transmission assets later became part of the States Grid Corp. of China, the worlds largest grid operator.
ADVICE: Be brave and flexible, especially if you join the insurance field at a younger age. You have the freedom of taking calculated risks, doing everything without the worries of losing anything. Sometimes, an opportunity might force you to leave your comfort zone; enjoy the challenges and have fun. In addition, insurance is known as a relationship business. Having that trusted partnership among you, your clients and your trading partners is so important. Dont burn any bridges.
OUTSIDE THE INDUSTRY, A DREAM JOB: A reporter for a travel magazine. I would love to travel around the world, introducing interesting places, various cultures, different foods, and unique customs, promoting better understandings among people on different continents.
COLLEGE MAJOR: I grew up in Beijing and went to the Beijing Institute of Machinery, now part of Beijing Information Science & Technology University. My undergraduate major was industrial engineering and management and I received a bachelors degree in engineering. Later, I moved to the U.S. and got my MBA in energy finance from the University of Texas at Austin.
LOOKING FORWARD TO: After living and working in Hong Kong for the past 7.5 years, I recently moved back to Charlotte, and joined McGriff Energy. At my new job, I look forward to reconnecting with my ex-peer risk managers, who are now my clients or prospective clients, my ex-service providers, who are my business partners and peer brokers. My experience as an insurance broker in Hong Kong made me appreciate the importance of building a trusted partnership among clients, brokers, and (re)insurance markets more than ever. I look forward to building that positive relationship, sharing my knowledge in my field, bridging any gaps between risk buyers and risk sellers as best as I can.
FAVOURITE MEAL: There are so many meals I enjoy. If I have to pick one out of many, I would go with sushi.
BOOK: Rich Dad Poor Dad, by Robert Kiyosaki. To me, it showed the importance of financial literacy. I didnt grow up having many financial education opportunities. However, financial literacy is very important. I am helping my own children learn the importance of financial independence at a younger age.
HOBBIES: Travel is one. I would love to visit some interesting places and enjoy local food. Hiking is another one I picked up while I was living in Hong Kong. In 2021, I hiked the 100-kilometer MacLehose Trail, the longest trail in Hong Kong, with my then-11-year-old daughter and some of my close friends. We enjoyed a very different side of Hong Kong.
TV SHOW: The Office. I love comedy shows. This one made me laugh out loud.
ON A SATURDAY AFTERNOON: If I were still in Hong Kong, most likely I would be on a hiking trail with my friends on a Saturday afternoon or enjoying afternoon tea with friends. Now I am back in Charlotte, I am settling down on a new routine to read a book or spend time with my husband and our two children.
