Gregor Nelson ‘04
Underwriter, San Francisco

Please describe your work:
I am in the business of selecting and pricing risk. Everybody does this on a daily basis without recognizing it as “underwriting.” Consider decisions we make on where to live, the work we do, and how we allocate money and free time. Consciously or not, we are making choices based on the strengths and risks associated with each choice.

In my work, I am choosing which companies to insure based upon answers to questions, Does the business idea make sense and do I trust the company will execute their plans? Do they have the financial strength for the long haul? What is the experience and track record of the senior management team?

After deciding if it makes sense to insure a company, I make a recommendation or a decision on how much coverage Chubb should provide, and at what price. At that point we negotiate, and the end product is a contract that fulfills the needs of all parties.

How did you end up doing what you are doing?
I wanted to work for a company with a great reputation, and in a capacity that allowed me to utilize the analytical skills I developed in college. I knew Chubb’s reputation as a large insurer with an international presence, and one that had a strong set of values with a commitment to quality, service, and ethics. I secured an interview at the Minnesota Private College Job Fair. After my initial interview, I was referred to a position in Chubb’s Chicago office.

The timing of the interview was concurrent with finals week, so I was concerned about whether I should go. I shared my concerns with Economics Professor Louis Johnston, and he was supportive and encouraging.

I felt energized by the people I met at Chubb, and with all of the support I had from my family, friends, and professors, it felt like the right decision to accept the job offer.

Which aspects of your CSB experience have helped you in your achievements?
I really enjoyed working in Career Services for four years. It was a great group of people, and having so much exposure to the tools of the Career Research Center was invaluable.           

The broad liberal arts education gave me opportunities to learn about subjects outside of my major, and the respect for community is a value that I frequently reflect upon and try to integrate into my life. I also appreciate that I keep in touch with professors and administrators who I worked with; I find that is unique even among people I know who went to smaller colleges/universities.         

What is rewarding about your work?
I love the intellectual challenge of working with our clients, product managers, claims examiners, and general counsel to craft contract wording that addresses exposures that are unique to each customer.                

I also love meeting with clients and asking the right questions to get the information I need to deliver a proposal that is mutually satisfying to the customer and to Chubb. There are many steps to the process, and it’s exciting to see all the pieces come together.

What does the public typically misunderstand about your work?
Before my current role, I did not know the different types of insurance that are available. One of the first questions I usually get is whether I sell auto or health insurance because these are the types of insurance that consumers deal with frequently.  Working in this industry has helped me to understand what an important role insurance plays on many levels of society.

The primary type of insurance that I underwrite is Directors and Officers insurance for privately held companies and not-for-profit organizations. When individuals serve as Directors or Officers of an organization, their personal assets can be exposed in a lawsuit brought against them by shareholders, employees, regulators, or competitors. The products that I offer give these people the peace of mind to perform their duties. Without that level of protection, it could be difficult for organizations to attract and retain the most talented individuals to serve on their board of directors.

Do you have any advice for current students?
Advice that I have received and found helpful is to ask a lot of questions and read as much you can. The internet makes so much information available to us, so I try to take advantage of learning as much as possible.

Institutional Advancement
College of Saint Benedict
St. Joseph, MN 56374
(320) 363-5682
(800) 648-3468