Emily Cadby
Assistant captive consultant
Strategic Risk Solutions
Personal bio: I was born in the UK but moved to County Cork, Ireland when I was a few months old.
I attended a Gaelscoil (a school where the primary language is Irish) and am still fluent today!
I went to university in Limerick, worked in both Dublin and the UK, and am now finally settled back in Cork 10 years later. I love to travel, experience new cultures and learn something new.
As I began my career at Marsh straight after university, I decided to leave Dublin and took what was supposed to be just three months out from captives in 2017 to backpack my way around Australia, Thailand and Bali.
I then ended up taking a broking role in Bournemouth in the UK before relocating back to Cork.
At the time, remote working was not an option in the captive industry in Ireland, so I joined Willis as a commercial broker.
Professional profile: I graduated from the University of Limerick in 2010 with a 1.1 in business with risk management and insurance.
I continued my insurance studies with the Insurance Institute of Ireland, and have the Chartered Insurance Practitioner and Management Diploma in Insurance qualifications.
I joined SRS as an assistant consultant in August 2020.
I am responsible for supporting the European consulting team in the delivery of consulting engagements and supporting business development.
I also draw on my previous experience in captive management by managing underwriting activities of a portfolio of reinsurance companies and insurance intermediaries.
I was formerly a client service advisor with Willis Towers Watson, where I provided an efficient broking and claims service to a portfolio of large corporate clients, including those in the education, contracting, retail, health/life sciences and public sectors. I started my career in insurance with Marsh Captive Solutions, Dublin after completing my degree in 2014.
How did you end up in the captive industry?
As part of my degree in business, I studied a range of subjects in the first year, after which I had to choose a major option. The insurance modules were always the most interesting to me, so going for risk management and insurance was a no brainer. An opportunity with Marsh Captive Solutions was shared with me by a lecturer just after I had completed my exams. At that stage I had not even heard of captives before, but once I did some research I thought it was a really interesting way to start my insurance career, rather than going down the traditional route of broking or underwriting!
What has been your highlight in the captive industry so far?
I was delighted to be offered a role with the consulting team after hearing about SRS setting up their operations in Europe. It has been great to be part of a rapidly growing team and it is really exciting to see us expanding all over Europe. It definitely has been my highlight in the industry so far. I get to work with people across all domiciles, whilst working remotely from Cork!
What/who have been your influences in the captive industry?
There have been many. With the captive industry being so dynamic and ever changing, it attracts innovative and forward thinking professionals who I have had the pleasure of working with. I have had such a wide variety of clients in terms of management and consulting, and no two clients are the same. Risk management really is a culture where I can learn something new and see a different point of view after working with each client. Moving from the captive industry into insurance broking for a few years really influenced me in that I have seen first hand the challenges companies are facing in the insurance market. This has helped me hugely in my consulting role as I can really understand and appreciate the pain points clients are experiencing with pricing and capacity.
What is your impression of the industry?
I think it is a really exciting industry to be a part of, and it has huge potential for growth. Insurance costs are mounting higher and higher, with companies often paying more for less coverage at renewal. Risk managers are looking for alternatives and solutions, and that is where the captive industry comes in. The industry is constantly changing and providing solutions to new and emerging risks. Domiciles are looking for ways to bring barriers down and captive formations in. Interest is surging and I think the future of risk management will be shaped by the captive industry.
What are your aspirations for your career in the captive industry?
Being a part of the consulting team at SRS — I have no doubt I will continue to gain invaluable knowledge and experience. I hope to become a fully fledged consultant in the future and continue to support the team with our growth in Europe.
What advice do you have for someone considering a role in the industry?
There are so many different ways to be part of the captive industry — whether you like accounting, underwriting, claims or tax, there is definitely something for everyone.
If you are not quite sure what is for you, I really would advise you try to obtain experience in captive management.
You will work with so many people from different backgrounds (such as actuaries, claim handlers, brokers and auditors) and get a feel for their work, which should help in deciding what direction to take.
Derek Bridgeman, managing director, head of European consulting services, SRS “Emily has been an extremely valued addition to the SRS Europe consulting team since joining in 2020. She has demonstrated a high degree of technical knowledge which was gained in her prior roles of insurance management and broking. This coupled with a desire to learn and develop has meant she is extremely valued within the organisation.”
