Molly Hentges
Account executive
Gallagher Bassett
Personal bio: I grew up in Glen Ellyn, Illinois. Outside of work, my passions consist of singing and cooking. Singing has always been a creative outlet for me, and it has empowered me to express myself through music. I also absolutely love to cook. I get in the zone when I’m in the kitchen. One of my favourite things to do is create a new dish from scratch for friends and family.
Professional profile: I’m a proud graduate of the University of Iowa where I double-majored in marketing and finance. Throughout undergrad, I held two internships within the insurance industry. I spent one summer at Captive Resources, which gave me a great introduction to the captive industry. The next two summers I interned at Gallagher Bassett where I was eventually brought on full-time in my current role as an account executive.
How did you end up in the captive industry?
One of the classic things I hear is that people ‘fall into’ the captive industry. I had the complete opposite experience. Insurance is something that has been embedded within my family for generations. My grandpa was a small-town insurance agent that spent his entire career in insurance, just like his father before him. My father has worked within captive insurance for forty years, and both of my older brothers and I have followed in his footsteps. Needless to say, captives have always been a topic of conversation when my family gets together. Due to the fact that I’ve been surrounded by captive insurance my entire life, I’ve been able to see the extensive opportunities it has to offer. I knew I wanted to build a career within the industry.
What has been your highlight in the captive industry so far?
The amazing relationships that I’ve built with colleagues and clients. I feel very fortunate to be a part of a close-knit industry that builds each other up.
What/who have been your influences in the captive industry?
My father, Nick Hentges, and mentor, Amy O’Brien, have been prominent influences throughout my career thus far. My father introduced me to the nuances of captive insurance at a young age. That exposure played a pivotal role in my decision to pursue a career in captives. I’ve also been lucky enough to work with Amy, who is both my colleague and mentor. She is a seasoned veteran of the industry with extensive knowledge in regard to the formation and maintenance of captives. Her insight and guidance have elevated my career to the next level.
What is your impression of the industry?
I believe there is still a lot of untapped potential within the industry. As a young professional this excites me as the opportunity for growth is exponential. Captives are still a relatively new concept to people; this means education is key. That education surrounding captives and how they operate will enable this industry to continue growing exponentially.
What are your aspirations for your career in the captive industry?
I’m eager to reach a spot where I’m well established within my current role and the industry at large. I intend to build out a vast network of insurance professionals and further my education by completing the ARM, CPCU, ACI and CCI designations. I also see myself getting more involved in the marketplace. This includes obtaining and holding leadership positions for captive organisations and committees, speaking on panels, and becoming a thought leader within the industry.
What advice do you have for someone considering a role in the industry?
One piece of advice I would give to anyone, regardless of industry, is to find a mentor. Having someone you can look up to, learn from, and conf ide in is helpful and will accelerate your professional development.
Amy O’Brien, national sales director, alternative risk programmes, captives and specialty markets, Gallagher Bassett “Molly is a creative and energetic producer of claims management programs for captive clients. She is driven to support the perpetual need to educate potential insureds and stakeholders as to the benefits of captives. You can find her speaking on panels and she is always open to take inquiries from interested prospects, captive managers, brokers and consultants. Our team is pleased to have Molly contributing to our leading captive third-party administrators (TPA) practice.”
