Do You Have What It Takes to Be in the C-Suite?
ctuaries can choose to leverage their actuarial expertise to transition into C-suite positions. “Do you have what it takes to be in the C-suite?” was one of the sessions at the 2026 CAS Spring Meeting for actuaries aspiring to move beyond traditional actuarial roles like pricing, reserving, or valuation. Panelists shared their expertise on the path to C-suite executive and industry leader roles, while their humor and candid storytelling kept the conversation engaging and relatable.
The first panelist was H. Elizabeth Mitchell, FCAS, MAAA, an accomplished independent director currently serving on the boards of directors for Principal Financial Group, Selective Insurance Group, and Enact Holdings. She previously served as president and CEO of Renaissance Reinsurance U.S., Platinum Underwriters Re, and St. Paul Re. Her distinguished career includes leading global profit centers, overseeing mergers and acquisitions (M&A), serving as past chair of the Brokers & Reinsurance Markets Association as well as the Reinsurance Association of America. Mitchell has received numerous industry honors, including being named Insurance Woman of the Year in 2007 by the Association of Professional Insurance Women. She was also recognized twice by Business Insurance, first in 2000 as one of the Top 40 Insurance Executives Under 40 and again in 2007 as one of the 50 Women to Watch. In addition, she has twice been recognized by Intelligent Insurer as one of the 100 Influential Women in Insurance and Reinsurance.
The second panelist was Brian Z. Brown, FCAS, MAAA, a principal and consulting actuary at Milliman, specializing in P&C insurance with expertise in ratemaking, loss reserve analysis, and actuarial appraisals for mergers and acquisitions. His clients include many of the world’s largest insurers and reinsurers. He previously served as global practice director for P&C at Milliman and is also a past president of the CAS.
The moderator for the session was Isaac Espinoza, FCAS, FSA, MAAA, an actuary by background, with more than 20 years in the insurance industry. He began his career at Farmers Insurance and Fireman’s Fund Insurance Company before moving offshore to join Greenlight Re nearly two decades ago. He later joined Root Insurance, an insurtech startup specializing in auto insurance powered by telematics technology. Most recently, he has served as CEO of a wildfire-focused managing general agent (MGA).
The discussion began with the definition of the C-suite as the senior executives in an organization whose titles typically begin with “chief,” such as chief executive officer (CEO), chief risk officer (CRO), chief actuary, and chief financial officer (CFO). The definition was later expanded in response to an audience question, noting that in most nonpartnership corporations, governance is typically organized around a board that provides oversight of management. The board’s primary responsibilities include hiring, evaluating, and, if necessary, replacing the CEO and senior leadership, ensuring appropriate controls are in place, risks are managed, and the company complies with laws and regulations. Board work is typically seasonal, and the intensity varies based on company circumstances, but the board typically meets quarterly. While primarily focused on oversight and advice, board members become more active during events such as M&A, performance challenges, or shareholder disputes. The guiding principle is “nose in, fingers out,” asking probing questions without involvement in day-to-day execution.
The first major theme of the session was moving beyond the traditional actuarial lane. The panelists reflected on their career paths, the nature of their roles, and how those roles evolved over time while giving strategic feedback on the skill sets needed for executive leadership roles. Their insights provided a deeper understanding of the professional trajectory from technical actuarial work to broader leadership and executive responsibilities.
Mitchell shared that she began her career in consulting and later transitioned to an insurance company. She noted that she was fortunate to join the industry at a time when the reinsurance sector recognized the importance of having actuaries on the front line. At the time, there was a shift away from situations where underwriters alone made large risk decisions toward a more integrated approach. She joined a company that deliberately chose not to maintain a traditional actuarial pricing department, instead embedding pricing actuaries directly alongside underwriters so that decisions would be made jointly. She described this as “joint underwriting and actuarial,” reflecting a collaborative decision-making model.
She did not have a fixed career plan but rather took advantage of opportunities as they arose, often through lateral moves that helped broaden and strengthen her skill set, particularly early in her career. Her key message was the importance of taking risks in one’s career, noting that actuarial skills developed in one area are highly transferable to others.
Brown had the opposite trajectory, as he spent the first 10 years of his career at three insurance companies before moving into consulting. He stressed the importance of having a deliberate post-exams career plan aimed at the C-suite, built through becoming an expert in actuarial topics such as pricing and reserving, as well as using networking and mentorship to increase industry visibility. He encouraged actuaries to engage in CAS events, publish papers, continuously expand their knowledge through reading industry periodicals, and stay active in industry discussions to build name recognition. He also praised CAS’s focus on business skills in continuing education, which helps prepare actuaries for leadership, communication, and broader executive roles beyond the traditional actuarial path.
Espinoza highlighted that persistence and taking calculated risks to pursue learning opportunities can accelerate exposure to C-suite leadership. In smaller or startup environments, actuaries may work directly alongside senior executives such as the CEO, CFO, and chief underwriting officer, gaining visibility into decision-making that would take much longer in larger organizations. While these roles involve greater uncertainty and broader responsibilities, they also offer closer engagement with leadership and faster professional development.
This segued into a discussion on the willingness to take risks and its impact on decision-making. While actuaries are skilled at quantifying risk, they often step back when uncertainty is high or data is incomplete. Embracing uncertainty despite imperfect estimates is key to gaining influence and moving into leadership roles, while those less comfortable with risk may excel in advisory positions. However, those who want a stronger voice in decision-making naturally gravitate toward leadership and strategy positions, where they shape business direction and help develop others. Leadership requires owning decisions, being accountable for outcomes in areas like reserving, underwriting, and M&A, and learning from mistakes rather than dwelling on them because leaders will make mistakes.
Effective decision-making also requires integrating diverse perspectives. Strong leaders create value not by being the “smartest person in the room” but by synthesizing expert input, asking critical questions, and recognizing assumptions, limitations, and emerging trends. They stay open to non-modeled signals, such as social inflation, and avoid relying solely on data. Ultimately, leadership is about synthesizing inputs into a coherent action plan. Mitchell humorously described herself as the “world’s best plagiarizer” for her ability to refine and integrate others’ ideas.
The second theme focused on building strong teams. The panelists shared that these are built through intentional hiring of complementary skills and leading by example. Leaders should foster openness, respect, and psychological safety so people can challenge ideas and speak up, even in client meetings, focusing on outcomes over hierarchy. Fair, consistent handling of tough decisions, clear standards, and continuous feedback build trust and accountability. Addressing underperformance is essential to maintain team morale.
As leaders advance, they shift from doing the work to reviewing and guiding it, focusing on oversight, judgment, and reasonability checks rather than technical execution. They must provide honest feedback, recognize strong performance, and develop people by giving them responsibility to stretch into new roles. Understanding different personalities and motivations, ensuring people feel heard and their input is valued, as well as avoiding micromanagement are key to keeping teams empowered and engaged.
Among several audience questions was one inquiring about leading in times when the industry direction is unclear, with a particular focus on AI development. The panel agreed that wherever AI takes future work, the human in the loop is important. Understanding how AI thinks and works, interpreting those outcomes, asking the right questions, doing reasonability checks, and being able to use these tools to enhance effectiveness are among actuaries’ best skills. As future colleagues will include AI agents, actuaries and leaders must be comfortable with that as an opportunity, not a threat to job security. The more one embraces this challenge, the better and more employable one can be.
Growth comes from stepping outside comfort zones. Whether one engages in diverse perspectives, takes risks, or gains direct exposure to leadership, success is driven not only by technical expertise, but also by judgment, communication, and the ability to lead and influence in a complex and changing world.