NAME: Nicole L. Mangino
NEW JOB TITLE: Cleveland-based practice leader, design, Oswald Cos.
PREVIOUS POSITION: Exton, Pennsylvania-based head of underwriting, Axa XL, a division of Axa SA
INDUSTRY OUTLOOK: Over the last two years, one of the most prevalent struggles for the insurance industry is that companies have become very internally focused and have reprioritized the benefit to their customers. The internal focus on innovation for the sake of innovation and not for the benefit of clients continues to dominate the industry. Companies are focused on industry-disrupting technology the balance between attempting to leverage tech and analytics (and be the first to market) versus remaining customer-centric. Insurance companies remain beholden to emerging technologies and data sources for efficiency and to expand their abilities to compete with one another. This doesnt necessarily equate to a better customer experience, improved claims experience or useful risk management.
GOALS FOR NEW POSITION: My goal is to continue to focus on building a strong team and culture at Oswald Cos. for design while continuing to deliver tailored risk management and insurance to our clients.
CHALLENGES FACING THE INDUSTRY: Design professionals continue to experience increasing claims activity arising out of lack of QA/QC procedures, technical errors and staffing issues. The claims activity and profitability impacts for insurers is directly affecting available capacity such as higher limits and project policies. The impact of talent shortages, supply-chain issues, residential real estate market and economic uncertainty affect the design and construction industries, which is contributing to the claims environment.
FIRST EXPERIENCE IN THE INDUSTRY JOB MARKET: I began my career as a commercial litigation attorney practicing law in Pittsburgh. My first insurance company position was with XL Insurance, now Axa XL, as a claims attorney in the environmental team handling contractors professional and pollution claims. When I left the law firm, I didnt even know what an underwriter was or did when I started in insurance. A very wise claims manager, Bill Helmig, told me to complete the CPCU designation and I am forever grateful.
ADVICE: Learn as much as you can. Ask a ton of questions and learn from the successes and failures of those that came before you. It is easy to understand your silo (i.e., broker, actuary, claims); take the time to understand the industry as whole. Dont compare your career progression to anyone elses it takes time, and it just might not be a linear path.
OUTSIDE THE INDUSTRY, A DREAM JOB: Veterinarian.
COLLEGE MAJOR: University of Pennsylvania, sociology.
LOOKING FORWARD TO: I came to Oswald Cos. because of the talented and experienced team and the customer-centric culture supported from the top down. I am looking forward to being empowered to be able to deliver for our clients.
FAVOURITE MEAL: I surveyed my friends and family and its definitely pizza.
BOOK: The Art of Racing in the Rain, by Garth Stein.
HOBBIES: Pilates, painting, rescuing dogs (mostly pit bulls).
TV SHOW: It is a toss-up between Deadliest Catch and Succession.
ON A SATURDAY AFTERNOON: Walking my dogs and baking cookies (attempting to try every chocolate chip cookie recipe I can find.).
