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Rachel Mazie was drawn into the insurance industry through a college internship in Lockton’s London office that allowed her to strategize with different teams and get to know clients. She went on to spend four years on Lockton’s international team and moved to the commercial insurance domestic team in 2016. In 2020, she was promoted to vice president.
What’s your advice on navigating the current insurance market?
Transparent, open communication and proactive strategy are critical for brokers in a hard market or otherwise. The hard market accentuated the importance of truly knowing clients as far as their goals, their exposures and risk management programs and being able to relate that in a meaningful way for underwriters was super important. As we’re seeing a transition out of the hard market, my advice is to maintain the important momentum of deeply understanding the client’s business to continue bringing fresh ideas.
What’s a problem that needs fixing in your sector?
We’re facing an industrywide generation gap. We’re seeing staff shortages for claims professionals, loss control engineers, and at my firm it seems like we can’t hire fast enough to keep up with our growth. In addition to succession planning, I think we have a lot of work to do with engaging and mentoring the next generation of industry professionals.
What should the industry do to attract more young people to work in it?
Insurance needs some PR help. It feels like a secret industry where people arrive on accident and stay on purpose. Internship and recruitment outreach could really be infused with new energy, enticing projects and an emphasis on opportunities across the globe.
Favorite hobby or pastime?
I love being out in the water — paddleboarding, kayaking, sailing — all the water things.