NAME: Seth Cohen
NEW JOB TITLE: Tampa, Florida-based general counsel, BRP Group Inc.
PREVIOUS POSITION: Tampa, Florida-based deputy general counsel and chief information security officer, BRP Group Inc.
INDUSTRY OUTLOOK: We fundamentally believe that insurance distribution, especially on the commercial lines and employee benefits side, will be a people-driven business for years to come. We expect that over the next decade, utilization and deployment of technology tools and resources, and data and analytics, will shift from being a differentiator to table stakes both from the perspective of winning new clients, as well as the ability to attract and retain talent. We also expect to see a continued shift in the way our insurance company partners price and underwrite certain products. For example, the dramatic increase in ransomware and cyberattacks is driving a shift in the way our insurance company partners offer cyber coverages. In the past, questionnaires completed by the prospective insured were the primary basis for pricing cyber policies. However, we are seeing a shift by some of our insurance company partners to requirements for specific suites of cyber defense capabilities, cyber vulnerability as
GOALS FOR NEW POSITION: Legal as a function is often viewed by entrepreneurs as the last impediment to getting business done. Im committed to changing that mindset by building a high level of intimacy between legal and the business. I believe business leaders should see the legal function as a key business partner to engage early and often.
CHALLENGES FACING THE INDUSTRY: The ability to attract and retain top talent is and will remain a key challenge. The war for talent is as fierce as ever, and we are seeing this in all areas of our business from our growth services areas (like legal, IT and accounting) to our frontline risk advisers. We dont see this challenge going away anytime soon. Another key challenge for our industry is social inflation, driven in part by the rising cost of litigation and their impact on claim payouts, worsening loss ratios and emerging risks. Social inflation affects everything from an insurers willingness to pay claims-related losses to the costs of procuring insurance, especially in the commercial space. It will inevitably lead to profound changes in the way our insurer partners modify their underwriting to avoid surprises. Finally, we are seeing various levels of technological adoption among different elements of the insurance ecosystem. Some companies in this industry wont be able to afford the technological investment
FIRST EXPERIENCE IN THE INDUSTRY JOB MARKET: Ive been practicing law for more than 20 years, much of it as a lawyer for Cisco Systems Inc., and my work has always involved a heavy focus on the operational aspects of running and scaling a multinational business.
ADVICE: Our industry is in a wild period of consolidation and transition especially with the increased focus on technological advancement and finding ways to create differentiated client experiences. If I may borrow a hockey analogy, my advice would be to skate to where the puck is going and not where it is.
OUTSIDE THE INDUSTRY, A DREAM JOB: This is my dream job, but if I were to really want to pivot to something different, I cant imagine something else more fulfilling than captaining an offshore fishing charter. Thirty miles offshore is very much my place of calm.
COLLEGE MAJOR: Criminology and criminal justice
LOOKING FORWARD TO: Our colleagues are everything. So many companies give lip service to this notion of culture. We live and breathe our azimuth every day. I absolutely love the fact that I learn something new every day from the incredibly talented colleagues around me.
FAVOURITE MEAL: A spicy Indian curry. I love the heat even if it doesnt always like me.
BOOK: Im a huge Grisham fan. I think Ive read every book hes written. I found A Painted House to be incredible. I read it in one sitting. Literally couldnt put it down. It was an incredible escape into something so far from the legal thriller genre we are so accustomed to seeing from Grisham.
HOBBIES: I love Florida Gator football, golfing, fishing and boating.
TV SHOW: I love every cooking competition show, whether its Chopped, Top Chef, Iron Chef, etc. I dont have a ton of artistic talents. I cant play a musical instrument, draw, paint or sing. If you ask my daughters, I cant dance, either. But I can cook, and I find that to be so cathartic. Ive learned a lot of cooking tricks from watching those shows, from how to break down certain meats and fishes to how to make a world-class Beef Wellington. And the best part is that my girls love those shows, too, so thats something we get to enjoy together.
ON A SATURDAY AFTERNOON: If the weather is nice and the seas are calm, theres nothing Id rather do than take a boat ride with my wife and daughters. Thats my zen.
