Hylant
Hylant’s emerging talent Caroline Erdman speaks to Frances Jones about her role as captive account manager and her future career aspirations in the captive industry
How has your previous experience prepared you for your current role in captives?
I previously served as a financial analyst intern at the South Carolina Department of Insurance (SCDOI) for nearly two years. I worked for both the traditional and captive sides.
This experience helped introduce me to the regulatory side of captive insurance.
I worked at the department while I was studying at the University of South Carolina, where I double majored in finance, and insurance and risk management. I graduated in May 2023.
Going into my current position as a captive account manager at Hylant in June this year, I had a good foundation of regulatory knowledge and captives in general.
How did you end up in the captive industry? From your experience, what would you say are the key benefits of working in captives?
While at the SCDOI, I worked on the regulation of smaller captive companies. I really enjoyed how different every captive was. The captive industry is so dynamic and constantly evolving, especially in the current climate. I knew this was where I wanted to be.
One of the key benefits of working in captives is the community. As a newcomer to the industry, it’s obvious that people from every corner of the industry want to help you learn and succeed.
Another benefit is the constantly changing environment. I don’t think there is ever a boring day in this industry because new risks are constantly emerging, and we have to learn how to respond and mitigate them quickly.
Who have been your biggest influences in the industry and what aspirations do you have for your career?
My first influence in the captive industry is my entire team at Hylant. Each member brings a unique experience and area of expertise to the team, and everyone is willing to share knowledge.
I admire the level of expertise each of them has about the industry, and I look forward to continuing to learn from them.
In the future, I would love to continue to grow my knowledge of the captive industry by finishing my ACI designation.
I also hope to get the opportunity to educate the next generation of young professionals about this fascinating industry.
What advice do you have for someone considering a role in the captive industry?
My advice for someone starting their career in captives is to get involved in whatever you can. The best way to learn is to immerse yourself in the atmosphere, whether that’s going to conferences or getting involved in organisations like The Captive Insurance Companies Association and The Risk and Insurance Management Society.
Personal biography:
Caroline is originally from the suburbs of Chicago and has recently moved back. Her interests and hobbies outside of work include travelling, reading and volunteering. She has completed more than 250 hours of volunteering in the past three years.
Professional recommendation
“Caroline’s drive and eagerness to learn was made apparent by her continued curiosity and willingness to, not just ask questions, but to take the initiative to seek answers on her own. Her professionalism, and the high calibre of her work ethic, set her apart in many ways. I am elated that Caroline has chosen to pursue a career in the captive industry. I also applaud Anne Marie Towle and the Hylant team for identifying and employing such great talent. Caroline will continue to be an asset to those around her, and to the broader captive industry for many years to come. I am eager to see all that she’s going to accomplish!”
Joe McDonald
Director of captives
South Carolina Department of Insurance
