NAME: Sarah Conway
NEW JOB TITLE: Saint-Malo, France-based director and head of ecosystem resilience, climate and resilience hub, Willis Towers Watson PLC
PREVIOUS POSITION: Saint-Malo, France-based climate and conservation finance consultant
INDUSTRY OUTLOOK: The industrys outlook needs to be framed in a holistic manner, taking into account the connectivity between the global economy and the environment. It is increasingly documented and understood that climate- and nature-related risks pose systemic challenges to the global economy. The loss of natural capital is one of the greatest risks to society and the global economy as it accelerates climate change and threatens the health of ecosystems that provide critical services. With the frequency and intensity of these risks increasing, the insurance industry is uniquely placed to deliver a range of solutions given the analytics and innovative approaches that are at the core of the insurance industry skillset.
GOALS FOR NEW POSITION: I hope to build on the CRHs impressive and award-winning work through concerted efforts that are internally and externally focused. Internally, I will strive to continue to build our already robust Ecosystem Resilience roster, attracting, retaining, and mentoring colleagues who share a commitment to utilizing risk analytics to help address the climate and nature emergency. Externally, I am committed to designing, deploying and scaling financial instruments that offer a triple win, benefiting people, nature and climate, and to make sure that these tools and their resulting outcomes and impacts receive the attention and recognition they deserve.
CHALLENGES FACING THE INDUSTRY: Within the climate, development and humanitarian communities not to mention the corporate world there remains a lack of awareness and understanding about the critical role that disaster risk finance and parametric insurance can play to de-risk investment; channel rapid financial support to respond to the impacts of events. Of course, parametric insurance products are not a silver-bullet solution, but in many cases they are a cost-effective risk management tool, and should at a minimum be considered when looking to mitigate climate- and nature-related risks.
FIRST EXPERIENCE IN THE INDUSTRY JOB MARKET: I started my career in traditional finance, first on the sell-side with Citigroup, in their two-year sales and trading analyst program, and then on the buy-side at PIMCO. The insurance sector and its role in addressing the dual climate and nature emergency has been on my radar for many years now, including during my time serving as the lead climate finance negotiator for the U.S. delegation to the United Nations Framework Convention on Climate Change through the Paris Conference of the Parties in 2015. Taking on this position is my chance to bring the role of insurance to a more impactful level than I could have when I was outside of the industry itself.
ADVICE: As a newcomer myself, Im not sure Im best placed to answer this one. I would say, though, that irrespective of the industry, the following advice comes to mind: dont be afraid to ask questions and be sure to listen well; build relationships within and outside of your organization; set the bar for yourself and your colleagues high, but also cut yourself and others some slack were only human, after all. Finally, find time to reflect on why youre doing what youre doing. This will help to prioritize your day-to-day and to continue to find meaning in your work.
OUTSIDE THE INDUSTRY, A DREAM JOB: Living in a tropical place and working for a dive shop as a dive master or underwater photographer. Ive been an avid scuba diver and underwater photographer since I spent several years working in Indonesia I find myself relaxing as I descend into the depths of the ocean, without noise or distraction, surrounded only by biodiversity.
COLLEGE MAJOR: I received a B.A. in economics with the leadership studies sequence from Claremont McKenna College in Claremont, California. I also completed an MSc in environmental economics and climate change at the London School of Economics.
LOOKING FORWARD TO: I look forward to working with the hugely experienced and talented CRH team and the wider WTW business, supporting our clients and other stakeholders to further strengthen their ecosystem resilience capabilities.
FAVOURITE MEAL: I live in France, so this is a difficult one. Growing up in Boston, my favorite meal was Maine lobster with melted butter, so its quite fitting that I should find myself settling down with my family in a region of France thats well known for its seafood and butter. I am also a huge fan of Thai and Italian cuisines.
BOOK: Anything by Malcolm Gladwell.
HOBBIES: I spend most of my free time with my family. We enjoy walking along or swimming at the beach, exploring nearby towns and trying new restaurants, and cooking and playing board games at home.
TV SHOW: I actually dont own a television (I have a projector), but Ive been enjoying Stranger Things on Netflix great series.
ON A SATURDAY AFTERNOON: If the weather is good, a long walk along the coast with my family, ideally concluding in Cancale with a dozen oysters and a nice glass of wine.
