BRENDA M. OLSONPosted On: Jul. 29, 2007 12:00 AM CST
Founder, Chief Executive Officer and President
Within one year of Brenda M. Olson’s 2003 creation of ORG Corp., it became the leading firm in Montana in number of captives and captive premium volume. It remains in that top slot today. Directing and managing Montana’s largest captive management firm, she is in charge of strategic risk consulting and alternative risk financing for clients in a variety of industries and oversees captive insurance licensing, formation and management. She’s also chairwoman of the Montana Captive Insurance Assn. Inc., and the founder and manager of the Montana Reinsurance Exchange, a reinsurance pool for Montana captives.
What would you change: "Insurers and agents alike need to focus more on what their customers want and improve service quality in key areas. Customers don’t like receiving quotes or declinations a few days before renewal. Insurers demand premiums up front while customers wait months to get policies, sometimes to find surprise exclusionary endorsements. Fronting costs are often seen as too high for the services being provided: More insurers need to partner with customers in this area. Claims service seems to be a low priority for many insurers, yet highly valued by insureds. Dissatisfaction with insurance company service is a frequent reason that our clients have turned to captive insurance: to get the service they want and need."
Professional role model: "In addition to being a personal and spiritual role model, my father was a professional role model as a director of HR for a multinational oil and gas company. During his life, he treated everyone with respect; always kept his cool during stressful situations; and valued loyalty, integrity and high ethical standards. Although he passed away two years ago, my father’s teachings continue to define the standards I’ve set for myself and ORG."
Early aspirations: "I’m often introduced as someone who chose to be in the insurance industry, so it seems that’s somewhat unique. I never gave serious thought to any career choice until I entered college and explored many different subjects. My geology undergraduate degree introduced me to mining economics and business risk concepts. I loved the business topics more than the earth science, so I went on to get an MBA with a concentration in risk management and insurance from the University of Wisconsin, Madison. Since then, the multidisciplinary and ever-changing fields of risk management and alternative risk financing have continually been exciting, challenging and very rewarding for me. Still, a favorite hobby is adding to my rock collection and sharing it with local schools."