Cassie Bachman
Managing director of compliance
Elevate Captives
Personal bio: I was lucky to grow up in several states, but my brother and I spent the most time in Muskogee, Oklahoma where my parents grew up. Now my husband Andrew and I live in Connecticut and just completed a DIY house renovation. My passions include volunteering in the community (I serve as treasurer on the board of the League of Womens Voters of Greater Hartford), reading, hiking, and projects involving creativity.
Professional profile: After studying English Literature at Magdalene College, University of Cambridge, I came back to the US and received a Political Science and History graduate degree from Oklahoma State University and a J.D. from the University of Oklahoma.
During my early years in the legal sector, I served as a judicial intern for the chief justice in the Eastern District of Oklahoma, volunteered for the Norman Juvenile Drug Court and the University of Oklahoma Legal Clinic, then worked for a law firm where I focused on helping Fortune 500 companies with complex compliance issues surrounding US integration of international executives and key employees.
How did you end up in the captive industry?
I was practicing international law when I met my boss, Jerry Messick. He introduced me to captive insurance companies and I was intrigued. I learned about the opportunities they provide for companies to creatively manage risks, but the legal research and regulatory compliance aspect was most interesting. I took the education and skills I’d developed and learned how I could participate in the industry.
What has been your highlight in the captive industry so far?
Being named managing director of compliance of Elevate Captives, getting to constantly learn, interacting with such a wide variety of people, including business owners, regulators, service providers and experts. As an extrovert and a lover of learning, it’s the perfect industry.
What/who have been your influences in the captive industry?
Education and mentorship have by far been the biggest influence. By receiving the ACI and CSIR designations I quickly learned about captives and the insurance industry. I am enjoying all of the educational opportunities and take as many as I have time for. I also have had the privilege of meeting intelligent, wonderful friends and mentors in various sectors of the industry who provide inspiration.
What advice do you have for someone considering a role in the industry?
Take your aspirations to the captive industry and see what it has to offer. The variety of roles would take pages to fill, and the opportunities are endless. Also — research ‘captive insurance’ and not ‘captive’, or you will quickly lose interest. What is your impression of the industry? The captive insurance industry is brilliant and adaptable. It’s a place where new ideas and new people are welcome. Unlike other industries, the industry works together for the best outcomes.
What are your aspirations for your career in the captive industry?
Remain in a management environment, always continue to learn, travel the world, help people reach their goals. As a compliance director, checking boxes is rewarding but creating the boxes to check is the real fun.
Steve Kinion Director, bureau of captive and financial insurance products Delaware Insurance Department “I would describe Cassie as ‘Millennium Heartland meets sophisticated chic’. We met in person at a Delaware Captive Insurance Association conference in 2015. Before our meeting, her reputation as an attorney for Elevate Captives’ compliance department preceded her. Cassie’s product submitted to the insurance regulators displays an attention to detail and organisation. She manages compliance matters in a way that shows she is not only intelligent but also a genuine pleasure to work with. Cassie demonstrates the essence of all that is needed for the future of the captive insurance industry. Her knowledge of third-party risk and medical stop-loss, coupled with her ability to think outside the box when structuring captives, is an invaluable skill.”
