Career paths are rarely linear, so be open to opportunity

Re/insurance careers offer development for many roles/skillsets, says Markel VP.

With 13 years of experience in the re/insurance industry and nominated for our LEADERS Under 40, Jonathan Kiefer, vice president at Markel Global Reinsurance, spoke to Intelligent Insurer about his career.

“I was lucky enough to have some family members in the industry who helped guide me towards this hidden gem of the global economy,” he said.

Currently serving as vice president of casualty treaty underwriting within Markel’s Global Reinsurance division, Kiefer leads the transaction liability and cyber liability treaty reinsurance portfolios globally and underwrites large multi-jurisdictional casualty programmes.

A chance discovery

Kiefer’s career started “on the brokerage side”, with various internships during college providing valuable experience.

After graduation, he entered a training programme at a large global broker where he discovered a passion for underwriting. “I realised that I enjoyed the inquisitive nature of underwriting and ownership of risk,” he recalled.

“This compelled me to move over to underwriting, initially in the primary market and now in treaty reinsurance.”

The cycle of leadership

Discussing the challenges faced early in his career, Kiefer noted: “It took time to recognise that career paths in our industry are rarely linear.

“The industry offers a great opportunity for young people to have a positive impact on the world.” Jonathan Kiefer, Markel

“This recognition allowed me to be open to other opportunities that I would not have necessarily considered, and embracing these different opportunities is what ultimately led me to reinsurance treaty underwriting,” he explained.

“The most rewarding part of my career has been the opportunity to work with and learn from some of the brightest minds in the re/insurance industry.

“It’s exciting to now play a role in helping the next generation of underwriters develop their technical capabilities and skills.”

Good leadership, in Kiefer’s view, involves recognising and utilising employees’ capabilities, providing necessary tools and empowering employees to take measured risk.

“Good leadership creates an environment that encourages open communication with employees, fostering collaboration and trust,” he added.

Excited about AI

Addressing current industry challenges, Kiefer referenced the continued elevation of loss cost. “Reform around litigation funding transparency and disclosure will be required to help mitigate further escalation,” he said.

Looking ahead, Kiefer is excited about the industry’s role in addressing new and evolving risks such as climate change, cyber threats, artificial intelligence (AI), and merger and acquisition-related exposures.

“These risks straddle the line between societal and corporate concerns that we read about in the news every day,” Kiefer said.

He sees great potential in using AI to complement the underwriting, broking, and claims processes. In addition, he believes re/insurance carriers and brokers should continue leveraging data to advise clients on best-in-class cybersecurity measures.

Re/insurance will continue to be crucial for facilitating the clean energy transition and achieving Net Zero goals, Kiefer noted. These areas present the industry with an opportunity to innovate and effect change.

Kiefer talked about being in a collaborative and supportive environment that inspires him. “The good leadership behaviours noted earlier are woven into the fabric of how the company operates,” he explained.

“Markel continues to provide a collaborative and supportive environment that empowers me to reach my full potential.”

On his future aspirations, Kiefer said: “I would like to continue work with my Markel Global Re colleagues to provide meaningful capacity and insights around product, market, and structure to our trading partners.”

Drawing in the younger generation

For young people considering a career path, Kiefer wholeheartedly recommends the re/insurance industry.

“We work in one of the most rewarding industries, and our industry allows young people to develop and hone a broad range of skills that are useful in various different functions within our industry,” he said.

“Applying those skills to address risks in different industries, geographies, and products means that no two work days are identical.

“The industry offers a great opportunity for young people to have a positive impact on the world by addressing these risks,” he concluded.

Watch the full interview here: