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Triple-I Weblog | How Karen Griswold Discovered Her Path in Chubb Marine Insurance coverage

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By Loretta Worters, Vice President, Media Relations, Triple-I

When Karen Griswold graduated with a B.S. in advertising from Penn State College, her first foray into the enterprise world was to change into an government retail purchaser in a big division retailer.  It didn’t take lengthy earlier than she realized it wasn’t a path for her.

She took an informational interview with somebody she knew on the Marine Workplace of America Corp. who advised she think about collaborating of their marine insurance coverage coaching program. 

“I didn’t have a maritime background, my household didn’t even personal a ship, what did I find out about marine insurance coverage?” Griswold mentioned.  

Karen Griswold, EVP, Chubb Ocean Marine

“I began as an underwriting trainee assigned to the marine unit,” she defined.  “I did 18 months rotating in inland marine, cargo, hull and marine legal responsibility after which generalized insurance coverage coaching by means of their skilled coaching program and was assigned to a cargo unit in New York as an ocean cargo underwriter.”

It was an interesting journey, in line with Griswold. 

“As a part of the coaching I realized about mechanical provides, prescribed drugs, equipment, and livestock.  There was no field you could possibly put your self in, it was altering on a regular basis.”

Cargo itself was completely different, Griswold discovered she needed to have a geopolitical sense. 

“In the future China, one other day Brazil, and I had to take a look at how cargo was shipped weighing variables, akin to the worth of freight, the worth of the boat, whether or not it’s going to function inland or on the ocean, and the legal guidelines and laws of nations the place the vessel would possibly journey,” she mentioned. “It was fascinating.”

Her profession spanned all the things from cargo to hull and legal responsibility to tugboat and marine services.  She realized about completely different lessons of marine enterprise, too. 

Thirty years later, Griswold is an government vp in Chubb’s Ocean Marine Division, and he or she nonetheless finds she learns one thing new day-after-day. 

“It’s a vast insurance coverage world, that’s what I discover so thrilling and fascinating, whether or not it’s the political impacts of transport, to world commerce legal guidelines, completely different points in distinct ports, it’s always altering and evolving,” she mentioned.

In her present function, Griswold abroad all of it: ocean marine, hull, cargo, liabilities, and marinas enterprise.  Relying on the day, one is likely to be extra fascinating than the opposite. 

“That’s one of many issues that challenges me essentially the most in my place.  “I decide up the paper and discover out what’s taking place on this planet, the political complexities, and the way that impacts the way in which we transact enterprise.”

Schooling is essential to Griswold, which is why she has been concerned with the American Institute of Marine Underwriters (AIMU) because the starting of her profession.  She began attending their instructional applications as a trainee.  Through the years, she has sat on the hull and finance committees and presently serves as AIMU’s Director of Funds.

“AIMU’s President John Miklus has been an amazing champion of girls, and for the trade on the whole,” she mentioned.

Griswold is also concerned with the Worldwide Union of Marine Insurance coverage (IUMI) and sits on their coverage discussion board committee that displays all the worldwide marine points impacting the trade. 

“I imagine it’s a nice privilege to be a girl within the maritime trade; there should not loads of us,” she defined.  “There’s a pure camaraderie between us.  For some time, I used to be the one lady at numerous occasions, completely different organizations, and committees.  That has modified all through my profession.  It’s an unimaginable area for folks.  The gender range has elevated during the last couple of years and has been encouraging to see.”

Griswold, who celebrated her twenty-fifth anniversary with Chubb, attributes her success to the mentors and sponsors all through her profession – each women and men. 

“We have to elevate ladies, not solely within the marine trade however in enterprise general,” she mentioned. “Simply being a feminine in a closely male-dominated group is a problem.  I’ve been fortunate; I’ve been handled pretty, and my expertise has largely been constructive.  Although it has been difficult as a mom, elevating youngsters in a male-driven trade, discovering that steadiness.  However I’ve had an incredible quantity of help.”

Griswold, who spends a good period of time sponsoring ladies inside and out of doors the trade, famous that extra range is required.

“Being a champion is essential, to showcase a few of that expertise,” she mentioned.  “When ladies see others like them, it’s extra empowering to have that bond, that capacity to see folks like themselves and develop and develop and think about secure areas.  It’s essential to showcase these ladies and their expertise.”

Whereas Griswold didn’t take pleasure in sponsorship amongst senior ladies, she did have nice male sponsors alongside the way in which. 

“These males helped me discover my voice and my path ahead,” she mentioned.  “We should assist different ladies to search out their voices.  We should assist one another, empower ourselves, and never create a aggressive atmosphere.”

Griswold pointed to the worth of Chubb’s enterprise roundtables, that are worker useful resource teams that supply mentoring and networking.

“We have to discover compatibility, friendship, mentoring teams,” she mentioned. “Ladies must forge their profession paths and discover their area of interest on this area.  There may be energy in numbers.”

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