“I enjoy working in our industry, because I believe that insurance exists to make the world a safer place, through risk management.”
Name:
Jayne Plunkett
Company: Swiss Re Job:
Head of casualty reinsurance
Timeline: 2012—Joined Swiss Re’s management board 2008—Appointed head of casualty underwriting in Asia 2006—Joined Swiss Re
Jayne Plunkett is the head casualty reinsurance and is on the group management board at Swiss Re. She was appointed to the board in April 2012. She served as head of casualty underwriting Asia from 2008, responsible
throughout Asia. She had joined Swiss Re as head regional underwriting in 2006 as a consequence of the acquisition of GE Insurance Solutions. Prior to the acquisition, Plunkett was the head of planning and analysis at GE Insurance Solutions from 2005 to 2006. Before this assignment, she was head of casualty risk management and deputy chief reserving actuary. She had joined GE Insurance Solutions in 1999 as insurance pricing team leader. She started her career at John Deere Insurance Company in 1992, where she held various positions focused on the commercial lines segment of the property and casualty insurance business. Plunkett is a fellow of the Casualty Actuarial Society and a member of the American Academy of Actuaries. She was named a Young Global Leader of the World Economic Forum in 2010.
What has been the highlight of your career so far? The highlight for me was definitely the five and a half years I spent living in Asia. Living and spending time in such different countries really helped me to change the way I approach things, and made me more aware of the importance of recognising and celebrating differences, be that in language, culture, approach or ideas. I learned to explain myself more clearly and to take the time not just to listen, but to understand what others are saying. I enjoyed leading a team of bright young talent—with them teaching me as much as I was teaching them! I also felt so
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much energy to work in an environment where new solutions are needed, and where technology is part of daily life.
What has been the biggest challenge you have
encountered? Casualty is a social science and not a natural science. This means we have to understand many social elements of each country in order to spot the trends for the future. We cannot make a standard model to understand legal environments and regulatory changes, for example. We have the opportunity now to use different forms of data—from unstructured data to big data—to better understand the future for these lines. But this is challenging, because we come from a discipline of looking at the past and using it to predict the future. While I think the past is still a good predictor of some future trends, I think others can only be identified by looking at new forms of data, and looking forward.
What are your career aspirations now? I enjoy working in our industry, because I believe that insurance exists to make the world a safer place, through risk management. For me, this is a noble cause and a reason to spend so much time in this industry. But I think we can do even more in this area. We have ideas and solutions to offer in terms of environmental liabilities and food safety, particularly in the emerging countries. Insurance can play a key role in improving the risk management of these industries over the next years.
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