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As a philosophy major, Claire Louko had not planned on a career in insurance, but after college she decided to follow her sister who had moved to the West Coast to join Liberty Mutual as an underwriter. Ms. Louko interviewed with Liberty Mutual and in 2007 started out in property underwriting. She was recruited by CNA to join its ceded reinsurance team in 2014 back in her hometown of Chicago.
What’s a lasting effect of the pandemic on the way you work?
In general, it’s the hybrid model. Before it was five days in the office, so a lasting effect is shifting to how we are eventually going to be going back to the office but with the ability to be effective and productive working remotely.
What’s a problem that needs fixing in your sector?
There’s a couple of lines of business, like property, for example, where we’re experiencing inflation. One of the challenges is how as an industry do we tackle inflation, how do we make sure we are accounting for that appropriately on the property underwriting side, and that we have proper insurance-to-value. The other piece would be social inflation that we’re seeing on some of the casualty lines of business.
What should the industry do to attract more young people to work in it?
We’ve come a long way in a short period of time and that is going to help attract young talent. COVID forced the issue of much more flexibility that wasn’t necessarily there in the insurance industry. The other thing is it’s become much more casual. Whereas I was in a suit five days a week, being able to work remotely, virtually, has enabled us to be more relaxed in our overall appearance.
What did you want to be when you grew up?
I wanted to be an architect.
“Here Comes The Sun” by the Beatles.
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