Kevin Cornell

Could you share a bit about your career journey and how you entered the field of underwriting? 

I began my career in insurance during college. I was introduced to it by my roommate, who was leaving his insurance internship for a degree in food marketing. He mentioned the internship opening and basically said, 'You have an interview next week.' I didn’t know what the company was or the industry, but I just went in and loved it immediately.

Currently, I specialize in underwriting for social services, a sector I am passionate about due to my lifelong commitment to giving back.

The internship led to an interview with an insurance carrier, where I joined their inside sales team, assisting professionals in acquiring business. I continued this role throughout college and then joined the company's brokerage side after graduation, which offered extensive exposure to various industry areas. A few years in, a carrier I worked with recognized my potential in underwriting and proposed I learn more about the field. I embraced the opportunity, marking an important step in my career. Currently, I specialize in underwriting for social services, a sector I am passionate about due to my lifelong commitment to giving back.

What aspect of your job do you find most fulfilling?

I really enjoy giving back, and that's always been a part of my life. So doing it through insurance felt like a natural fit.

The most fulfilling aspects of my job include providing insurance to social service organizations, enabling them to continue their work without financial obstacles. 

I really enjoy giving back, and that's always been a part of my life. So doing it through insurance felt like a natural fit.

Another part I enjoy is coaching my team, aiding in their career progression, and solving problems together. I work with a range of individuals, from interns to underwriting assistants, guiding them through their responsibilities and fostering a collaborative learning environment.

What are some skills that are crucial for success in underwriting? 

One of the most crucial skills is definitely critical thinking. You've just received some information. What do you do with it? Is it valuable, and who needs to know about it? Where should it be placed? Being able to think through the next steps is critical. Another skill I always emphasize to new hires is consistency. You must be consistent in your approach and how you analyze accounts because you'll encounter a wide variety of scenarios. Consistency is key with your clients as well. If you're consistent, they'll know how to approach you and understand what you require.

One of the most crucial skills is definitely critical thinking. You've just received some information. What do you do with it? Is it valuable, and who needs to know about it? Where should it be placed?

Working with agents, my trust in an agent comes from their consistency in providing the same information, especially when I've requested it in the same manner each time. Inconsistency leads to friction. Lastly, the thoroughness of your work is essential for being an effective underwriter. To summarize, critical thinking, consistency, and thoroughness in your work are three important skills. These skills enable effective information analysis, reliable client interactions, and high-quality work output.

What’s your best piece of advice for those who are just starting out or thinking about getting into underwriting?‍

To begin, I would advise simply diving in. Being comfortable with learning as you go is crucial; you'll only improve and understand if you're actively engaged.

Dive in, ask all the questions you have. I prefer someone who asks questions over someone who makes a mistake and then requires correction.

What I tell newcomers to the company, even if they're not starting in an underwriting position, is to dive into an account and examine it. If you identify a risk and say, 'Hey, I looked at this, Kevin. Here's a summary of what they're doing,' every underwriter will appreciate that effort, thinking, 'Wow, thank you. You've saved me X amount of minutes.' Taking the initiative to engage with accounts directly accelerates your learning process and helps you gain experience much faster.

Ultimately, it boils down to familiarizing yourself with the processes, understanding what you're analyzing, and determining which data is important. The key is to not hesitate. Dive in, ask all the questions you have. I prefer someone who asks questions over someone who makes a mistake and then requires correction.

Is there a common misconception about underwriting you wish to correct?

Something that often comes up in conversations with individuals outside the industry is their reaction when they hear the words ‘insurance underwriting’; their eyes glaze over. They respond with, 'Oh, cool. I don’t know what that is, but it sounds interesting.' I always find myself explaining what it is that I actually do. Typically, I'll give examples, like when sitting at a restaurant, I might explain that there was an underwriter who assessed this business and inquired about their sales.

Internally, sometimes agents might mention, 'You guys just ask a lot of questions.' To me, it's not about the quantity of questions but asking the exact right ones. I aim not to ask too many but to inquire only what’s necessary. I focus on the important questions and how we can handle this efficiently and profitably, ensuring we're not overlooking anything that could expose us.

I always find myself explaining what it is that I actually do. Typically, I'll give examples, like when sitting at a restaurant, I might explain that there was an underwriter who assessed this business and inquired about their sales.

‍How do you stay informed about industry trends?

‍I attend various industry conferences, and many cities host 'insurance days,' which I enjoy a lot. These events offer great learning opportunities and excellent networking.

However, to stay updated on day-to-day activities, for me communicating with agents is helpful.

However, to stay updated on day-to-day activities, for me communicating with agents is helpful. They are at the forefront within insurance companies and are knowledgeable about the activities of other carriers. While I am familiar with what's happening within my company, a competitor might be introducing something new. Since my agent works with both us and our competitors, engaging them in conversation can reveal a lot, so you can learn a lot by simply asking your agents, 'What are you observing?'

This approach has proven to be one of the most insightful strategies for me. I've also tried to incorporate listening to insurance podcasts while driving. Some months, I'm diligent about it, but other times, I prefer just listening to music on the road.

‍Describe your ideal work environment. When and where do you feel most productive?

It depends on what work I'm actually doing, what part of my job I'm engaging in. I think a lot of my colleagues would be surprised if I said I love Monday mornings in the office, from 7:30 AM to 11 AM. I am super productive, clearing out emails and planning for the week. Distraction-free, headphones in, three screens — I love it. But if I'm making my marketing calls or just reviewing accounts, then I can be anywhere. I just want to make sure I have distraction-free time and space, like blocking out the calendar. But definitely, for those calls, I'd rather be in the home office, a little more relaxed because then I can have a conversation.

I like the structure of coming into the office, doing it for a certain number of days. I mean, I was just talking about consistency. I like having my time consistent. Having the mix of being in one place, in the office, and then at home, it's a nice way to structure your work week.

‍Can you recommend a book that has been influential in your career or one you simply enjoy? 

An influential book for me is 'Tuesdays with Morrie' by Mitch Albom, which underscores the importance of devotion to community—a principle that resonates with my professional direction in social service underwriting. 

Any changes you hope to see in the underwriting industry over the next ten years?

Hopefully, sooner than ten years from now, I want our systems to improve. We have a lot of potential for enhancements. Having worked at a couple of insurance companies, whenever I talk to friends who work elsewhere, they ask, 'Oh, what system do you use? How is it? Do you like it?' And no one ever says, 'I love this.'

It feels like there are many opportunities to make the data entry aspect or our pipeline more efficient.

It feels like there are many opportunities to make the data entry aspect or our pipeline more efficient. On my level, something I would love to see industry-wide is for pricing and the insurance market to soften a bit because it's tough right now, and I'm pushing rates. I don't always love that, but I understand the need for it. So, a better pricing model for the industry as a whole would be ideal, ensuring that we can exist indefinitely and provide insurance for everyone profitably and consistently.