Session 84 IF, Women's Leadership Forum. Moderator: Margaret Resce Milkint

Transcription

1 Session 84 IF, Women's Leadership Forum Moderator: Margaret Resce Milkint Presenters: Andrea Bykerk Christopherson; FSA, FCA, MAAA Amy Cuddy, Associate Professor, Harvard Business School Lawrence R. Smart, FSA, MAAA Deborah Watkins Laura J. Wiland, FSA, MAAA SOA Antitrust Disclaimer SOA Presentation Disclaimer

2 2017 SOA Health Meeting Women s Leadership Forum Sponsored by: Leadership and Development Section Inclusion and Diversity Committee Actuary of the Future Section In coordination with:

3 Women s Leadership Forum Agenda I. Welcome: Margaret Resce Milkint II. III. Keynote Speaker: Deborah Watkins Chief Executive Officer Care Bridge International Panel Discussion: Andrea Bykerk Christopherson, FSA, FCA, MAAA Vice President and Chief Actuary Blue Cross and Blue Shield of Minnesota Amy Cuddy Associate Professor Harvard Business School Larry R. Smart, FSA, MAAA Vice President and Chief Actuary WellCare Health Plans, Inc. 2

4 Keynote Presentation Deborah Watkins Chief Executive Officer Care Bridge International 3

5 Deborah Watkins Chief Executive Officer, Care Bridge International Deborah is a seasoned clinician and insurance executive with extensive experience in all facets of complex medical claims management integrating technology with evidencedbased clinical and technical processes, quality assurance, risk management, case management and life care planning. Deborah is a former Board Member of the National Alliance of Medicare Set Aside Professionals (NAMSAP). She has an Executive Masters in Healthcare Leadership (MBA/MPH) from Brown University and a Master of Science in Nursing (MSN) from the University of Phoenix. She is also a Registered Nurse (RN), Certified Case Manager (CCM), Certified Registered Rehabilitation Nurse (CRRN), Certified Life Care Planner (CLCP), Certified Nurse Life Care Planner (CNLCP), Medicare Secondary Payer Consultant Certified (MSCC), and pending certification as a Licensed Health Care Risk Manager. 4

6 Get Out of Your Comfort Zone and Push Your Limits! Deborah Watkins, CEO, Care Bridge International Society of Actuaries Health Meeting Women s Leadership Forum June 13,

7 Great - Grandmother Always Said 6

8 Yellen traces the struggles & progress of women in the U.S. economy Janet Yellen, Federal Reserve Chair, Speaker 125 Years of Women, Brown University Conference, May 5-6, 2017 Yellen, Brown University Class of 1967 Discussed how each generation has broken barriers, only to discover new ones on the path to their career dreams. The prosperity of American women has long been tied to the prosperity of America. Barriers remain to work-life balance. The difficulty of balancing work and family is a widespread problem. Women in the workforce, peaked in the 1990s at 75% (88% for men). Women working full time still earn about 17% less than men, particularly in the law and financial services industries. 7

9 Women as Influencers My Big Fat Greek Wedding

10 Leadership and Gender Differences Research Graham, Susan. Hormone Found Linked to Mother s Protective Instincts. Scientific American. August 2,

11 Early Career: Lessons from the Nursing Profession The Nursing Process and Nursing Care Plans mirror Project Management, Quality/ Risk management and Agile Development: Assessment Diagnosis Planning Intervention Evaluation Critical Thinking Skills RNs are faced with life and death decisions under high emotional stakes in a litigious environment. 10

12 Early Career: Lessons from the Nursing Profession Organization Management & Leadership Balancing policy & procedures, physicians orders and the needs and wants of families Work Life Balance Shift work and weekends; Creating a flexible schedule Why do nurses eat their young? 11

13 Early Career: Lessons from Group Health The Evolution of Managed Care: Telephone Triage / Demand Management, Disease Management, Case Management The Balanced Budget Act (BBA) of 1997 named Medicare s managed care program Medicare+Choice Medicare+Choice Pilot, Orlando, FL, one of three sites nationwide My Mentor, Elizabeth Brown and her role in my career growth 12

14 Early Career Lessons from Group Health Under Medicare Modernization Act (MMA) of 2003, Medicare+Choice was renamed Medicare Advantage. Humana among the first to offer Medicare Advantage C Plan with robust case management for frail/ vulnerable members Payer vs. Provider Conflicts Drug formularies and evidenced based guidelines UR/ UM and balancing the right thing for patients HumanaLink Recognition How Women Sabotage their own Careers 13

15 Early Career: Lessons from Group Benefits, National Business Short Term/Long Term Disability Pilot Program Systems Development/ Technical Requirements Sales/ New Client Implementation Glass Ceilings Lessons Employer/Employee relationships Human Resources Employee Benefits Workplace discrimination Litigation and Appeals Process Technical leadership 14

16 Work Life Balance and the Challenge of Women as Caregivers Family Tragedy Work Life Balance more critical Work as Therapy, important Wages and Benefits, necessary How to work full time and be a caregiver too? Women as Caregivers 2015 Estimates: 20% of all women working full time are caregivers The cost to businesses to replace women who leave their jobs because of their caregiving responsibilities are estimated at $3.3 billion. 15

17 Mid-Career P&C Insurance Company Home Office/ High Exposure Workers Compensation Claims Brand Hero recognition for Highest Return to Work Outcomes Employee Assessment Profile Certified Life Care Planner Company Re-Organization and Re-establishing Career Path 16

18 Mid-Career First Start Up Experience Life Care Planner National Sales Grew company $6M in 6 months Beating the competition! Business travel and caregiving Lessons Learned Never underestimate, acquiesce and/ or placate. Ask, negotiate and push limits! 17

19 Career Acceleration Former Carrier Acquires Group Benefits Vendor Managementcontracts, audits & leadership Staff Education/ Development Organizational structure De-Centralized to Centralization and how to work yourself out of a job! Life & Living with Uncertainty When Nothing is Sure, Everything is Possible. Margaret Drabble 18

20 Chief Executive Officer It all comes together, when everything seems to be falling apart Regional Sales VP of Clinical Services, Boys will be Boys & Experience meets opportunity President/ Chief Executive Officer, Sold to a public company Lessons Learned Be authentic! Never under-sell yourself and what you bring to the business Trust your instincts! Surround yourself with diverse talent; hold your team accountable to you & each other, using objective measures Make mistakes, learn, and make incremental process improvements. Acknowledge errors, but depersonalize them, maintain respect Find your voice! Be decisive & bold, you will be called a bitch, (your male counterparts will not), be bold anyway! 19

21 My Hero, Caitlin My journey, as a mother and caregiver have transformed me into a fearless leader. - Deborah Watkins 20

22 Re-Inventing Myself! Get Out of Your Comfort Zone! Learn new skills that challenge and stress you, develop those new skills then measure how far you ve come! You can conquer anything you set your mind to. Push Your Limits! 21

23 Care Bridge International InsurTech Start Up Executive Team 22

24 Thank you! A Woman Majority Owned Company Deborah Watkins, President & CEO Care Bridge International, Inc Town Center Parkway Lakewood Ranch, FL Ext. 101 Direct: deborah@carebridgeinc.com 23

25 PANEL DISCUSSION Redefining and Finding Success Moderated by: Margaret Resce Milkint 24

26 Margaret Resce Milkint Managing Partner, The Jacobson Group Margaret handles executive management and actuarial searches on a global basis for the organization's retained search practice. Margaret co-founded the Women s Insurance Networking Group (WING), a platform for networking among the insurance industry s female leaders and enlightened males. Margaret's expertise on career and recruiting issues is widely-recognized throughout the industry and she is often called upon to share her perspectives and insights. 25

27 Andrea Bykerk Christopherson, FSA, FCA, MAAA Vice President and Chief Actuary, Blue Cross and Blue Shield of Minnesota Andie recently joined Blue Cross Blue Shield of Minnesota as their Vice President, Chief Actuary. She previously served as Chief Actuary at Land of Lincoln Health, a healthcare CO-OP launched in 2013 under the Affordable Care Act. Andie has more than 15 years of health actuarial experience, largely in the payer space, and has worked at several of the large actuarial firms including Milliman and Optum. Andie has been an active member of the actuarial profession in a wide variety of volunteer and governance roles. In October 2016, she began serving a term as an elected member of the SOA s Board of Directors. 26

28 Amy Cuddy Associate Professor, Harvard Business School Social psychologist Amy Cuddy is a Harvard Business School professor, New York Times bestselling author, and Young Global Leader at the World Economic Forum. Amy is author of Presence: Bringing Your Boldest Self to Your Biggest Challenges. Focusing on the power of nonverbal behavior, prejudice and stereotyping, the delicate balance of trustworthiness and strength, and the ways in which people can affect their own thoughts, feelings, and behaviors, Amy teaches thousands of people how to become more present and influential (and satisfied) in their professional and personal lives. 27

29 Larry R. Smart, FSA, MAAA Vice President and Chief Actuary, WellCare Health Plans, Inc. Larry has more than 20 years of actuarial experience, having spent 11 years prior to joining WellCare at Aon Consulting. Since joining WellCare in January 2006, Larry has held a variety of progressive positions within WellCare s Finance area, and was appointed as VP & Chief Actuary in June Larry is a Fellow of the Society of Actuaries and a Member of the American Academy of Actuaries.. 28

30 POLLING QUESTION - What percentage of your organization s executive team is made up of female executives? 1. Under 25% % % 4. 76% or More 58% 36% 4% 2%

31 Women are only 28% as likely to reach leadership positions as men. Based on current approaches, it will take 117 years to achieve global gender parity. Only 6% of insurers expect a significant increase in the number of women in leadership roles within the next five years. 30

32 POLLING QUESTION - Does your employer have any formal programs in place to help women move into leadership roles? 1. Yes 2. No 69% 31%

33 Only 8% of insurance companies have formal, structured programs in place to develop female leaders. 32

34 What types of programs have you seen implemented throughout the industry to help develop female leaders? Do you feel these programs are effective? What other strategies does the industry need to embrace in order to address the leadership gender gap? 33

35 POLLING QUESTION - Do you believe that insurance organizations are adequately embracing diversity and inclusion among leadership teams? 1. Yes 2. No 66% 34%

36 61% of women believe their organizations do not have sufficient diversity of thought and experience on the leadership team. Only 44% of men agreed. What can be done to convince male leaders of the lack of gender diversity in the workplace? 35

37 Men are promoted based on potential. Women are promoted based on past accomplishments. -McKinsey & Company With this in mind, do you think women sabotage their upward mobility by not promoting their accomplishments and past achievements? 36

38 POLLING QUESTION - Have you seen or personally experienced a gendered pay gap? 1. Yes 2. No 55% 45%

39 The typical female worker earns 26% less than the typical male worker. At the current rate of change, it will take 170 years to close this economic gender gap. What do think is contributing to this persistent issue? What can organizations do to address the continued pay disparity? 38

40 POLLING QUESTION - Have you had a mentor at any point in your career? 1. Yes 2. No Answer Now 0% 0% Countdown 39

41 POLLING QUESTION - Have you had a sponsor? 1. Yes 2. No Answer Now 0% 0% Countdown 40

42 According to a Catalyst survey, more women than men have mentors. Yet women s mentors often have less organizational clout. This impacts their ability to impact career advancement. Have you seen this play out in your own professional development? 41

43 Women report few examples of endorsement; they also share stories of having to fight with their male mentors to be viewed as ready for the next role. If you have had both male and female mentors, have you found their advice and insights to be similar or different? 42

44 Deborah Watkins Chief Executive Officer, Care Bridge International Get out of your comfort zone and push your limits! 43

45 Larry R. Smart, FSA, MAAA Vice President and Chief Actuary, WellCare Health Plans, Inc. Life is 10% what happens to you and 90% how you react to it. 44

46 Margaret Resce Milkint Managing Partner, The Jacobson Group Curiosity + Re-Imagining + Positivity = A career that is your avocation. 45

47 Andrea Bykerk Christopherson, FSA, FCA, MAAA Vice President and Chief Actuary, Blue Cross and Blue Shield of Minnesota Growth doesn t come by staying in your comfort zone. 46

48 Amy Cuddy Associate Professor, Harvard Business School Presence = being attuned to and able to access and express your boldest self. 47

49 48

50 Thank You! WING provides a platform for women in the industry to find support and grow. Today, WING provides a unique opportunity for networking among more than 500 of the insurance industry s female leaders and enlightened males nationwide. For event details and group updates, be sure to join the Women's Insurance Networking Group (WING) on LinkedIn!

51 Thank You! Special thanks to the Leadership & Development Section, the Inclusion and Diversity Committee and Actuary of the Future Section for hosting! Thank you to Olga Jacobs and Laura Wiland for their support and efforts. Thank you to our speakers Deborah Watkins, Andrea Bykerk Christopherson, Amy Cuddy and Larry Smart!