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Rachel Rossini’s interest in insurance was piqued after she landed an internship at a wholesaler while an undergrad at Villanova University. The ability to travel while learning different lines of underwriting appealed to her, and in 2014 she joined the graduate training program at Hiscox. She moved quickly into cyber, and in her current role at Axa XL manages an $80 million to $90 million book of business.
What’s your advice on navigating the current insurance market?
In cyber, we’re seeing rate increases averaging about 100%. There’s a lot of claim activity; things are changing all the time, and emotions are heightened. What I’ve found to be successful is to take a step back and put yourself in the shoes of either the broker or client you are working with well before you have to make any decisions.
What’s a problem that needs fixing in your sector?
In the cyber sector, a big problem is data collection, quality of data and data sharing. Cyber is a newer product, so you’re not going to have the same actuarial data to work from as other lines of business. There’s a huge opportunity to work together for a common cause to protect our clients and the world in general from hackers.
What should the industry do to attract more young people to work in it?
Diversity and inclusion, and really investing in D&I is important. Seeing representation, whether it’s gender, race, ethnicity, is key to attracting more people into the industry.
What is something about you that would surprise people?
Fun fact: I used to be a hand model in college. I found it randomly on Craigslist and always thought I had nice hands, so I went for it. I had a fairly lucrative, yet short-lived hand modeling career.
Favorite hobby or pastime?
Volunteering at animal shelters and fostering kittens is something that I love doing.