Evelyn Kim
Associate director
Aon
Personal bio: Having been born and raised in Canada in one of the most diverse cities in the world provided a unique perspective growing up and instilled in me a desire to explore and learn about other cultures. I’m passionate about diversity and inclusion in the workplace and currently lead Aon’s national Latino BRG which focuses on helping Latino colleagues advance in their careers at Aon and improve representation at all levels of the organisation. My husband and I currently call Chicago home and enjoy hosting friends and introducing them to Korean BBQ.
Professional profile: Studying Accounting at the University of Waterloo was probably one of the best decisions I’ve made in life as it provided me with the analytical tools and inquisitive mindset to view the world. After my completing Masters in Accounting and successfully writing the CPA exam, I jumped at the first opportunity to escape the harsh Canadian winters and moved to sunny Bermuda to work as an auditor for PwC in their captive insurance division.
During my time there I had the opportunity to audit numerous captive insurance entities from across all industries and countries. It was a fascinating experience to see self-insurance at work in a formalised structure that yielded great benefit to insureds and centralised their risk management programme.
After several years with PwC, I made the jump to the captive management and took a senior account executive role with Aon’s captive management team in Bermuda where I was responsible for the day-to-day operation and financial reporting of a portfolio of captive insurance entities. Being on the client side, as auditors say, gave me a front-row seat in management's decision making over the operations and risk appetite of the parent company and grew in me the desire to learn more and share with others.
During my time with Aon’s Bermuda team, the opportunity to relocate to Chicago presented itself and I took on a role with Aon’s captive consulting team overseeing the Midwest region. My role is focused on working with our office and practice leaders to drive captive opportunities and provide captive consulting services via captive feasibility and risk financing studies.
How did you end up in the captive industry?
An opportunity with PwC in Bermuda introduced me to the captive industry and it’s been a fascinating journey since. Like most professionals in this space, we’ve somehow all stumbled into the industry and have been kept on our toes with the introduction of new technologies and ways of doing business. Each day brings new challenges and pushes all of us to think outside the box and a captive insurance company allows the flexibility and nimbleness to do so.
What has been your highlight in the captive industry so far?
Taking on the role of associate director within Aon’s captive consulting team has been the most rewarding experience so far. It’s been a perfect match combining my analytical and technical skills with my interpersonal skills and overall drive to solve problems. I think the captive industry provides the right outlet for those looking to find solutions to problems that don't yet exist and I’m keen to be at the forefront of the incoming wave.
What/who have been your influences in the captive industry?
Being a self-starter and negator of the status quo have been my greatest influences during my career in the captive industry. Taking on various roles within the industry has provided me with the wide view of the industry and allows me to approach problems from different perspectives. I can relate to CFOs in their endeavour to reduce costs and manage volatility while also working with corporate risk managers to find alternative solutions to new emerging risks or a hardening market. I wouldn’t have made it this far had it not been for my colleagues at Aon who entrusted me to oversee the Midwest region and provided the guidance and support to successfully do so. My success has not been achieved alone, but rather from a large consortium of people helping me along the way.
What is your impression of the industry?
The captive industry provides an opportunity to engage with self-insurance at the discretion of the insured and their risk tolerance while aligning them in the direction that best suits them. It is flexible and nimble to emerging risks and responsive to changing market conditions.
What are your aspirations for your career in the captive industry?
Solving problems and seeking to find new and creative ways to address the pain points of our clients to drive better business outcomes for them and their employees.
What advice do you have for someone considering a role in the industry?
Be hungry to learn. You are the driver of your destiny and the captive industry provides the platform to explore a variety of roles and find your niche.
Ward Ching, Aon Captive Insurance Managers, Aon Adjunct professor of management, Marshall Business School, University of Southern California “Evelyn has mastered the use of analytic tools to “see things in the data” that we could not see five years ago. As a result, she delivers strategic insights around the use of risk finance, captive insurance companies and risk hedges, including the use of insurance, to solve complex risk mitigation problems. She is a part of a team that is tieing risk data to a firm’s economic and market performance (EBITDA, EPS). Attention to analytics aside, a key skill is Evelyn’s ability to communicate complex financial and operational issues in simple, strategic and practical terms. Her experience as a captive manager has given her a unique client centric understanding into the workings of enterprise risk from a hazard, operational, market, human capital and reputational perspective. Evelyn understands the value of portfolio and how portfolio analytics improve the management of risk volitility. Going forward, the management of risk volitility will become the central risk management metric. Sit up and pay attention: Evelyn is someone to watch.”
