South Carolina Department of Insurance
Ryan Martin, captive supervising financial analyst, South Carolina Department of Insurance speaks with Captive Insurance Times about his journey into the industry
How has your previous experience prepared you for your current role?
My time at the Mississippi Insurance Department (MID) provided me with ample regulatory experience, which has transitioned well to my current role. In particular, with regulating risk retention groups as they require more regulatory scrutiny than other types of captives.
How did you end up in the industry?
After graduating college, I sought out a financial analyst role, which led me to the MID. I subsequently relocated to Charleston, South Carolina for a change of scenery. After searching and interviewing for various jobs, I was offered a position in the captives division at the South Carolina Department of Insurance (SCDOI). I was thrilled about the opportunity as it aligned with my prior experience where I first learned about captives, which I have always been interested in.
What is the key benefit of working in captives?
The ability to work in a unique and growing industry that embraces creativity and provides an alternative solution to traditional insurance.
Who have been your influences in the industry?
Everyone I have encountered in the captive space has had an impact on me. Working for the SCDOI, it will come as no surprise that Lauren Robertson has, and continues to be, a great influence on me and the entire team of analysts we have here. She is a great chief financial analyst, role model and an all-around exceptional professional who has helped me grow in many ways and expand my knowledge of captives.
What are your aspirations for your future career?
I am learning as much as I can get my hands on to improve professionally. I proactively engage with and inform others about captive insurance, and do all I can to assist in growing South Carolina as a premier onshore captive domicile.
Going forward, I’m excited for my continued journey in the captive industry and to see where this experience may take me.
I certainly want to stay working in the captive space and find ways to add value wherever I am.
Could you give some advice for someone considering a role in captives?
Due to the ongoing hard market conditions, I see the industry continuing to grow, so get in the industry as soon as possible. Do not feel uncertain about where you are in your career or if you have no captive insurance experience – we all have to start somewhere!
If you enjoy creativity, innovation, critical thinking, building meaningful professional relationships, and thrive in an ever-changing environment, a role within this unique and diverse sector of insurance could perfectly align with your interests and career goals.
