MOVERS AND SHAKERS: Nancy Gray
Nancy Gray
Age 54
Leadership Positions
Aon Insurance Managers — Regional Managing Director/Americas (starting 2009)
Aon Insurance Managers — Executive Director/North America (starting 2005)
Aon Insurance Managers — Deputy Managing Director/Vermont Office (starting 2003)
International Risk Management Group — Deputy Managing Director/Vermont Office (starting 1996)
Minet Group — Vice President/Vermont Office (starting 1994)
Nancy Gray currently is the treasurer of the National Risk Retention Association.
In October, she will become the organization’s Board Chair.
Education
Bentley College (now Bentley University) — Bachelor of Science degree in Accountancy, Associate degree in Management
Biggest Challenges Facing the RRG Industry
Nancy Gray: “One is the imposition of regulatory requirements and fees on RRGs by non-domiciliary states. Another challenge for RRGs is maintaining their member insureds and even growing. We’ve been in a prolonged soft market, so some RRG insureds have moved to the traditional insurance marketplace where they can get lower rates. It’s imperative for every risk retention group to demonstrate to its members the added value they’re receiving from the RRG, rather than being viewed as a commodity transaction. Fortunately for RRGs, the market has started to firm up in certain lines, so RRGs have a good opportunity to take advantage of the changing conditions.”
Biggest Challenges Facing Your Company
Nancy Gray: “The biggest challenge we face — and I’m referring specifically to our captive insurance management operation — is attracting and hiring talent at the pace we need. It’s a growing industry, and there’s a limited pool of talent out there. We’re constantly looking to recruit and hire. Of course, this is a problem for the whole insurance industry and not specific to captive insurance management. A number of insurance professionals will be retiring over the next few years, and we need that flow of new talent coming through the industry.”
Life Situation
Married; lives in Essex, Vermont; two dogs, three cats, one horse; two adult children (27 and 25).
In Her Spare Time
Reading, gardening, golfing, traveling, spending time with the family.
Charitable Work
Volunteering at her church, where she’s a member of the Finance Council.
Proudest Accomplishments Personally and Professionally
Personal accomplishment: being the first member of her family to obtain a higher education; working her way through college. Adds Gray: “I’m very proud of the adults my children have become, and of their independence in forging their own paths.”
Professional accomplishment: helping to lead a highly successful captive management operation for Aon, a recognized leader within the industry. “I’m proud of the role I’ve played in our growth, and in AON becoming a leading insurance manager of RRGs and captive insurance companies,” Gray says.