Taking on insurance coverage with a global twist

Andrea Keenan (pictured) is initially from Philadelphia, however that was by no means actually the place she wished to finish up. She wished to go worldwide. Keenan earned herself a bachelor’s and grasp’s diploma in worldwide relations, with a deal with economics – however her goals have been set on the worldwide stage. 

Keenan’s profession started in Washington, D.C., the place she imagined she’d immerse herself in international affairs. Instead, she married and moved to New York, the place she landed a job as an economist for Toyota Corporation. She had left Philly, and was working for a global enterprise, nevertheless it nonetheless felt native to Keenan.

“The focus was on the US economy, which I found incredibly dull relative to my passion for international things,” she mentioned.

Meanwhile, AM Best, a credit score rankings company that focuses on the insurance coverage trade, was following its ardour for worldwide issues, too. Specifically, it was looking out for somebody who may perceive nation danger.

“AM Best at the time – this was in 2000 – was expanding the reach of its ratings to domiciles that were ever less predictable, put it that way, like Egypt and India and Mexico and there needed to be understanding as to how to do it,” Keenan defined. “While people like me would have been very easy to find in Washington, DC, I was a transplant. I moved over to AM Best to be the first-ever country risk analyst at the company.”

From there, Keenan, now the chief vice chairman and chief technique officer at AM Best, would go on to alter the world. When it got here to danger evaluation at the least.   

“And I came in very pure with a very pure experience in international cultures and economies. I designed our first ever country risk model and was our first ever country risk analyst,” Keenan mentioned. 

AM Best’s foresight in realizing the significance of nation danger evaluation and Keenan’s well timed intervention and experience led to a revolution in how rankings have been approached. “AM Best clearly knew that there was a need, and I had the good fortune of being able to come in and design it,” she mentioned.

An ever-evolving insurance coverage panorama

The insurance coverage trade has a far-reaching impression, touching numerous lives and shaping economies. AM Best is devoted not simply to sustaining its place within the United States, but in addition to increasing its footprint in rising markets, making certain these nations profit from higher safety, and serving to bridge the safety hole.

Keenan recalled her involvement in Latin America, particularly detailing how AM Best flourished in Mexico as a result of altering legislative panorama. Although transferring there was a take a look at of dedication as she needed to go away her household behind, transferring to the center of the market she was making an attempt to penetrate was important. 

“It was a really enjoyable experience because I had the gift of focus,” she mentioned. “Every breakfast, every lunch, every dinner, every interaction was for the sole purpose of getting this off the ground.”

This transfer was greater than only a skilled endeavor; it was an immersion right into a vibrant tradition and group. Ironically, it reminded her of house. The one she by no means wished to finish up in. 

“It reminds me a bit of my Philadelphia where some of the personalities and so much incredible history just surrounds you,” she mentioned.

From the tales of the indigenous folks to the remnants of the Spaniards, historical past is alive and palpable in each nook. However, amid all of the tradition and historical past, there’s one factor that stood out most for Keenan: the meals.

With a contact of humour, she provides: “But the food – the food’s incredible.”