Laura Scarpa

Name: Laura Scarpa
Age: 24
Role: Reinsurance technician
Company: Benfield
Degree/University: Economics, London School of Economics

Why did you choose the insurance industry?

I saw working in insurance as an alternative to the traditional graduate routes of investment banking and accountancy - which were thrust upon us every week at university!

I liked the opportunities for further study and also the fact that working in broking, you get to deal with lots of people, acting as an intermediary between underwriters and clients.

The industry offers good benefits and the chance to travel and it's also very social - there are formal networks that allow you to meet fellow workers in the industry and make useful connections. Last but not least, for much of the year the hours tend to be 9 to 5.30, so we have the ability to have a good work-life balance.

What have you done in your career so far?

I joined Benfield in 2003 on the graduate programme. We started with five weeks of intensive training and were then assigned an individual project as well as a group charity project.

The graduates on the programme worked together to raise over £80,000 to establish an outside learning area at a disadvantaged primary school. We also rotated around different departments where we would eventually work.

I spent a year on the Japanese team before starting my current position in the Central Eastern Europe team. At the moment I'm building a portfolio of clients and reinsurance programmes to work on, while also being exposed to different brokers. I now broker my own programmes and deal more with underwriters on a daily basis.

What do you do in a typical working day?

Benfield is a reinsurance broker, so our clients are the insurers themselves. That means talking to or emailing them almost every day in the renewal season, which runs from September to March, but maybe only once a fortnight during the summer.

I usually arrive at work at 9am and deal with my email queries. Then I might have an informal meeting in the coffee bar and following that, work on slips or endorsements or the preparation of renewal information.

I have lunch, then perhaps deal with a phone call from a reinsurer or client and come up with a solution. As part of the Central Eastern Europe team, I often have to liaise with colleagues in Prague and Bratislava to solve issues and plan ahead. At other times I'll be working with a range of colleagues in London - from the hazard modelling team to claims brokers - and dealing with underwriters from all over the world as well as those in Lloyd's of London.

My days vary enormously. From September to March, I am constantly busy, with a variety of jobs - broking to reinsurers or preparing aggregate data. Outside the renewal season, I work on projects which can last a single day or sometimes months. For instance, currently I'm involved in testing a new system our company will be adopting to manage all our renewals.

What training have you received?

The five weeks intensive training at the start of the graduate programme covered areas including financial markets, accounting, personal impact and report writing alongside basic reinsurance courses.

After this, I also attended a two-week reinsurance course in Paris as well as an in-house reinsurance workshop along with several clients and reinsurers. There are also regular in-house courses run by our People Advisory and Development team on topics such as assertiveness.

I'm currently studying for my ACII qualification and hope to become an associate chartered insurer in the coming months - this covers subjects including marketing, law and reinsurance.

What do you enjoy most about your job?

This job offers good all-round benefits in terms of salary and pension as well as opportunities to travel.

I enjoy the challenge of negotiating with underwriters and collaborating with my colleagues to provide the best prices and terms for our clients - it's not always easy to put theory into practice, but I'm not afraid to ask questions if I need to.

It's also a very sociable place to work because there are lots of societies for young people at Lloyd's of London - you can easily get to meet people both on a professional and a social basis.