NAME: Lisa Harris
NEW JOB TITLE: Houston-based executive vice president of client service, natural resources practice, CAC Specialty
PREVIOUS POSITION: Houston-based managing director, Marsh JLT Specialty
INDUSTRY OUTLOOK: The energy insurance industry is currently facing a seismic shift. The business has not been profitable in many segments, and the shortened duration of the insurance cycle does not leave enough time for insurers to replenish capital erosion. This creates significant volatility and client distrust of the value of their insurance relationships. We are investing extensively in highly motivated and seasoned people to provide clients with the expert advice they need to understand and improve their underlying risks. Once that is accomplished, we can intelligently structure a better insurance program and marketing strategy. While the outlook for the industry is uncertain for many players, we view this as a perfect time to be building a fresh alternative approach. I think that the future is very bright for CAC because we recognize the need for a different approach to navigate through these difficult market conditions, which we forecast will persist.
GOALS FOR NEW POSITION: My primary goal is to create an environment where colleagues feel empowered to provide their clients with the best client service possible. Working hard for clients and enjoying your job should not be mutually exclusive. We are hyper-focused on protecting our culture while also growing the team as our client base continues to grow.
CHALLENGES FACING THE INDUSTRY: Larger brokers are looking to reduce the human element in insurance broking by commoditizing our role, focusing on reducing costs and increasing efficiencies. The COVID-19 pandemic has accelerated these actions. While factors such as data and analytics are a critical component in insurance broking, they are only a component in the value we bring to our clients. This is still a people business, and CAC Specialty is taking the opposite approach of big brokers we are betting on people.
FIRST EXPERIENCE IN THE INDUSTRY JOB MARKET: After graduating from Texas A&M University, I joined JLT Group as an energy associate. That phenomenal first step in my career opened my eyes to the endless possibilities this field could offer.
ADVICE: As brokers, the goal is to become indispensable to the client. Until you are directly working with clients, your focus should be to become indispensable to the colleagues you are working with.
OUTSIDE THE INDUSTRY, A DREAM JOB: When I was in high school, my parents lost their retirement savings when their employer went bankrupt. I became passionate about personal finance. I would love a job where my primary focus was educating people on their options and how best to plan for their future.
COLLEGE MAJOR: Bachelor’s degree in business administration and international finance, Texas A&M University.
LOOKING FORWARD TO: I am looking forward to growing the CAC Specialty team, which has such an entrepreneurial and client-focused spirit. That aligns with my own personality and career growth. This is a terrific opportunity to join the newly formed natural resources practice at CAC, which is a resource focused on serving clients in the energy, mining, power and alternative energy sectors.
FAVOURITE MEAL: Vietnamese Pho
BOOK: The Obstacle is the Way,by Ryan Holiday
HOBBIES: Playing with my two children, tennis and reading.
TV SHOW: The Office
ON A SATURDAY AFTERNOON: I live on a great street where most of the neighbors have children around the same age and we are all friends. Most Saturday afternoons are spent outside while all the neighborhood kiddos ride bikes and play.
