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UP CLOSE: Geraldine DelPrete

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UP CLOSE: Geraldine DelPrete

NEW JOB TITLE: Woodbury, New York-based director of programs, senior vice president, SterlingRisk Insurance

PREVIOUS POSITION: New York-based partner, TigerRisk Partners LLC

OUTLOOK FOR THE INDUSTRY: The outlook is differentiated by line of business. I’m feeling very upbeat on the casualty side. Many companies no longer have duplications in their reserves, causing attention to, and a targeted focus toward, underwriting and pricing. Property seems to be moving slower as there is still a great deal of capacity in catastrophic and non-catastrophic exposures. Rates are heading slightly upward and underwriting is tightening slightly, but not as quickly as casualty. The industry is making huge strides on the technology side and moving toward providing newer product to the various commercial segments with the introduction of insurtech.

GOALS FOR YOUR NEW POSITION: My goals at SterlingRisk are to triple the size of the program group in revenue, create multiline programs across business segments, and provide a level of service that is nonexistent in the industry via technology/underwriting. One of the reasons I joined SterlingRisk is the commitment David Sterling has toward new products and servicing of his clients. I also like being back on the frontline insurance side.

CHALLENGES FACING THE INDUSTRY: A significant challenge in our area is an inability by insurers to provide flexible solutions on a multiline basis. Overall, the industry is also struggling in the area of underwriting talent, as a lot of the talent has left the industry, which diminishes the ability to recruit, retain and motivate new talent.

FIRST EXPERIENCE: I was fortunate to have some really outstanding mentors in the beginning of my career during my large-firm experience at American International Group Inc., Marsh & McLennan Cos. Inc. and Aon PLC. One boss told me that there is no such thing as a problem. I always remember that. There are only opportunities.

ADVICE FOR A NEWCOMER: Never say no to a task. For my part, I never said no to any task, which more often than not meant figuring out how to do something on my own. Regardless of my knowledge, I took hold of a task and educated myself along the way.

DREAM JOB: My dream job in another industry would be something in the not-for-profit world. I am passionate about the mission of Covenant House and have been active with the organization in New York and New Jersey. Homelessness breeds a host of other problems and I can’t abide with the fact that there are young people who don’t have a chance for a full life.

LOOKING FORWARD TO IN YOUR NEW JOB: I’m looking forward to creating a program group that offers a multiline solution to its clients supported by a high level of technology to help manage risk.

COLLEGE MAJOR: Finance and economics

FAVORITE MEAL: Pasta, especially with my own homemade tomato sauce.

FAVORITE BOOK: “My Brilliant Friend,” by Elena Ferrante. While telling a compelling story, Ferrante’s book illustrates how women historically have been kept back, regardless of their intellect, by tradition and cultural bias.

HOBBIES: I can be found surfing the East End of Long Island in Amagansett when weather and time permit.

ON A SATURDAY AFTERNOON: Saturdays are for exercise. Yoga heads the list, but I love to bike and work out at the gym. Exercise keeps my mind fresh, reduces stress and keeps me fit.

 

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    NEW JOB TITLE: Apple Valley, Minnesota-based director, enterprise risk management, Uponor North America