Bermuda Foundation For Insurance Studies

Mentoring: Fall 2021 Newsletter

We are justly proud of the BFIS Mentoring programme which has been in existence since BFIS was first incorporated back in 1996.  In the 25 years since then we have provided mentors to literally thousands of students who have benefitted from being matched with some of the brightest and best professionals in the industry who have happily shared their knowledge and given guidance and advice to their mentees, steering them into careers in the industry. 

The continuation of Covid restrictions has meant that our in-person Networking events over the summer break could again not be held. This means that we now have two graduating classes who have not yet had the opportunity to experience one of these events which are a lot of fun, so we look forward to hosting a spectacular session when we are all safely allowed to do so!

Given the fact that we were also unable to host our usual in-person Bermuda internship programme for a second year, a team of volunteers put together a virtual series of mini-sessions for our students that was very well received. Over three weeks of lunchtime sessions, we were able to provide students with a number of presentations covering all aspects of the industry from Underwriting to Claims, Accounting and Finance, ILS, Cat Modeling and Actuarial and Broking and Law. We started with an excellent presentation from underwriters discussing the future of the industry and their career paths, and later there was a Panel Discussion featuring professionals giving advice on careers, market trends and general tips on making the most of a career in the industry.

Following on from this, we were able to host a small group of students who had attended the Mini- Internship for Happy Hour drinks at Harry’s, where students and professionals were able to enjoy some face-to-face interaction after 3 weeks of virtual sessions.

Two students who attended the sessions commented:

I thoroughly enjoyed the BFIS virtual mini-internship sessions. I connected with some great insurance professionals (who I still keep in contact with) and learned more about the industry and different career paths. We had the chance to hear from the professionals directly and learn what they do on a day-to-day basis. This opportunity has given me insight into my career path and I really appreciated the experience.” SS

“I thought the virtual mini-internship sessions were a fantastic alternative to the real thing.  It was refreshing to listen to professionals from almost every aspect of the (re)insurance industry who explained their roles. This allowed me to get a taste of a typical day-to-day office environment.  The presentations were informative and useful, some meticulously breaking down the insurance life cycle so we learned about the relationships between brokers, underwriters, actuaries, etc.  I also enjoyed the reception at Harry’s, a nice touch wrapping up what we learned over the summer.  Altogether a wonderful experience – a job well done by the BFIS team.DL

Apart from this, the Mentor Committee has worked hard to encourage more professionals to consider mentoring. We recently produced a Mentoring Booklet outlining the roles and responsibilities of mentors that was shared with HR departments across the island. We managed to attract quite a few new mentors so most of our new scholars and other students reaching out for guidance have now been matched.

We are always looking for new mentors so if you are interested, please let us know – it truly is a rewarding experience!