S4 EP51: Competing on a global scale and projecting women’s voices - Kirsten Beasley, Head of Office, Bermuda, Willis Towers Watson

The Insurance Coffee House

The opportunities are vast. Hundreds and hundreds of companies with a physical presence here and the jobs to go with it.

It's important that all Bermudians remember that we're not just competing within Bermuda and our small country, we're competing on a global scale”, says Kirsten.

“We are an exceptionally well-educated island. It's critical there are opportunities for Bermudians.

And that Bermudians can see themselves in the industry and see the example of other Bermudians. This is global level competition.”

On the podcast this week, Kirsten tells how she’s spent her entire 25-year career in Bermuda.

With experience in broking and underwriting, Kirsten shares details of her double-headed role for Willis Towers Watson in Bermuda.

“We have three teams in Bermuda, a Broking team, our Actuarial Consulting team and our Captives team.

My geography leadership, I view it as accountability to them to make sure that we have the operations and the facilities, they need to run their businesses.

The other hat I have, is leadership of our broking unit, the nuts and bolts on the insurance side.”

Kirsten discusses the insurance ecosystem in Bermuda and states the only thing micro about the island is the geography.

“There's a robust ecosystem that goes beyond just the underwriting roles or the broking roles. There are opportunities in actuarial captives, but there's also lawyers, accountants, marketing services that support this entire ecosystem and the Bermuda economy. Insurance and reinsurance and the supporting services are at the heart of it.”

Kirsten shares WTW’s future plans and working in the local Bermudian market, with its importance in the global marketplace.

“We're in growth mode. We have new dynamic leadership in North America that's gotten us focused on growth and accountability. We're looking to reorganize ourselves along the industry focus that is core to how our clients manage and view their own risk. That really is at the core of our strategy.

I find myself often having to translate Big Willis to Bermuda and translate Willis Bermuda to Big Willis as I call it. Our employment law isn't the same as in the US or UK. Our regulatory structures might not be exactly mirrored so that translation work can be time consuming.

I really love that I've been given the platform to be able to do it. Having the seat at the table when you’re little old Bermuda is exceptionally important because we are pretty core to being able to deliver on our promise and commitment to our clients.”

Kirsten discusses her area of passion, something she battled with early on in her career.

“It was hosting an underwriting meeting as a young underwriter. I was nervous. I had moments where I couldn't speak.

For a confident, outspoken person not be able to use my voice because of the nervousness of being the center of attention in a speaking setting was a shock.

“Me and a group of women got together. It started with a survey because, how many other women feel like this? And how do they grapple with it?

We put out a survey to the market. Roughly 80% of women are nervous speakers. 80% of them avoid speaking as a result. Think of all that subject matter expertise that is lost because of nerves.”

To combat this issue, Kirsten was involved in setting up ‘We Speak’ to help women and teens in Bermuda to learn the value of public speaking and project their voices.

“We are not insurance or reinsurance specific; we help develop their voice in whatever sphere is necessary for them. It could be giving a TED talk for one person, but for another, maybe someone more like me, it's just being able to host an underwriting meeting and ask your questions without going red in the face. It’s meeting people where they are. We have a coaching approach, where we have one coach for every five women. It's an exceptionally supportive environment.

Kirsten counsels anyone considering an opportunity in the Bermuda insurance market to embrace an area of passion and to dip outside the lane of their day to day responsibilities.

She also gives her advice to anyone considering a move to Bermuda.

“Do your research. Understand the environment you're walking into. It is not just a smaller version of wherever you're coming, of the US.

It is an entirely unique culture. When I've seen it go well, people get involved, they give back to the community, they're engaged. When I've seen it go wrong, it's because people expect it to be a certain way because they haven't done their research.”

Kirsten highlights the importance of DE&I for insurance businesses looking to bring in international talent to Bermuda.

“It's really important to think about diversity, equity and inclusion. Whatever country they're coming from, are they adding a perspective that you don't currently have?

It's not just skills. We should be looking at adding new perspectives to enrich and further your team.

So it's not just going for an easier option of finding more talent in different international locations. Are you sure there isn't talent on island that you have overlooked?”

Kirsten emphasizes that any external insurance executive search partner she works with, must have a local network, an understanding of the local environment.

“You need to understand the landscape to be able to recruit for it.”

Kirsten concludes with the one lesson her career has taught her, she wants everyone to know.

“I’m slightly laughing because I learned this lesson too late. It’s the critical role that emotional intelligence has in my happiness, contentment and overall professional and frankly personal success. I wish emotional intelligence was taught in schools.”

Connect with Kirsten Beasley on LinkedIn or find out more about Willis Towers Watson

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