2023 Break Out Awards NORTHEAST SOUTH MIDWEST WEST
KAPIL MOHAN Senior vice president, client services
Gallagher Bassett Services Inc.
Gallagher Bassett Services Inc.
A childhood love of problem-solving led Kapil Mohan to study engineering at college and ultimately to a career in insurance. He had worked in management consulting for nine years when a professional connection with Mike Hessling, CEO-North America at Gallagher Bassett, led him to the industry in 2018.
What’s your advice on navigating the current insurance market?
Many traditional risks are declining, at least on a frequency basis, and that’s primarily because workplaces are getting safer. There’s a shift to services in the economy, so there are fewer people in hazardous jobs, and technology related to the workplace has improved. However, new risks are emerging, whether it’s climate, cyber, product, infectious diseases or reputational risks. When they occur, they can result in significant financial costs to the organization. It’s important for risk managers and organizations to understand their exposure to these different risks and plan accordingly.
How are technological advances affecting your job?
Technology is benefiting our jobs, eliminating administrative tasks, and allowing our people to focus on things that add greater value or require a higher skill set. ... We’ve invested significantly in decision support tools that help our front-line adjusters with everyday claims tasks, such as reserving, flagging claims that need attention or a specific resource, so they can intervene and change the course of that claim.
What’s a problem that needs fixing in your sector?
Attracting top talent. Nothing can disperse a dinner group faster than telling them you work in insurance, but that’s a misconception, because it’s one of the most interesting sectors.
What’s something about you that would surprise people?
I’m training for my first triathlon.
Favorite song?
“Enter Sandman,” by Metallica.
