NAME: Rachel Priester
NEW JOB TITLE: Morris Plains, New Jersey-based U.S. head of claims, Global Aerospace Inc.
PREVIOUS POSITION: Glastonbury, Connecticut-based AVP and managing counsel, CNA Corp.
INDUSTRY OUTLOOK: With all the innovation under way, this is an exciting time for the aviation industry. The emergence of new technologies in aviation (i.e., greater use of batteries, electric motors and autonomous systems) is revolutionary and creates opportunities in this industry that were not here years ago. It is also a positive development on lessening the carbon footprint of the aviation industry and creates a greater opportunity for human mobility. With the creation of our emerging technology unit, I look forward to engaging and supporting this new sector from a claims perspective.
GOALS FOR NEW POSITION: I am fortunate to work with a high-performing team, who are experts in aerospace claims. I want each of them to feel included and supported to do their best work. I want to build on the current collaborative working environment, and make sure that employees have opportunities to cross-train and explore areas of interest and stretch assignments. I also want to make sure that, as the aviation industry grows, and new environmental and technological challenges develop, we are well-positioned to support our clients as their needs evolve.
CHALLENGES FACING THE INDUSTRY: Like everyone else, we are working with an evolving workforce, as businesses adapt to, and emerge from, the challenges of living and working in a pandemic. We need to stay flexible and responsive to the needs of employees across the insurance industry, and make sure that insurance continues to be a career of choice. Fundamentally, handling claims is about helping customers solve problems, and solid, experienced claim handling and litigation management help get fair results for customers while allowing them to focus on their core businesses. I continually think about how best to explain the insurance industry, and the opportunities it offers, to employees starting their careers, and how to recruit talent into the industry.
FIRST EXPERIENCE IN THE INDUSTRY JOB MARKET: When I was a mid-level associate at a law firm, I volunteered for an assignment over a weekend to give a second opinion on an insurance coverage matter that had been handled by a different law firm. The matter involved a long-running dispute over coverage for an egg farm. I was fascinated by the policy language, the claim handling history, and the real-world implications for both the policyholder and for the insurance company. By the end of that weekend, I knew insurance was for me. Im not entirely sure what that says about my typical weekend plans, but I have since found a lot of interesting challenges and professional satisfaction working with and around insurance claims.
ADVICE: Be open to new challenges, and dont be afraid to ask questions. Everyone has to start somewhere, and everything is learnable so long as you know what you dont know, ask questions and dig in.
OUTSIDE THE INDUSTRY, A DREAM JOB: I would love to be a travel writer or travel agent and explore new places.
COLLEGE MAJOR: Near Eastern Languages, with a focus on Arabic and modern Middle Eastern history. I havent directly pursued anything in the field since college, but I enjoyed it tremendously.
LOOKING FORWARD TO: I am privileged to work with so many subject matter experts, both within global and with our clients and their brokers. I am looking forward to helping bring together that expertise in service of our clients, and helping our clients achieve their goals. We are fortunate to support the aviation industry, which is a key economic driver and an exciting space with a lot of innovation. I cant wait to see what the next few years bring.
FAVOURITE MEAL: Locally caught seafood.
BOOK: Its hard to choose; I read indiscriminately. Some current favorites are The Great Circle, by Maggie Shipstead; A Gentleman in Moscow, by Amor Towles; and Range: Why Generalists Triumph in a Specialized World, by David Epstein.
HOBBIES: Reading, skiing with my teenaged son, running and traveling.
TV SHOW: The Simpsons the early years.
ON A SATURDAY AFTERNOON: A few uninterrupted hours on a couch with a good book in front of a fire is about as good as it gets.
