Exploring Employee Benefits Insurance Jobs | An Interview with Karen Williamson

Recently, we sat down with Karen Williamson, a consultant with Cowan Insurance Group.  She shared her background, including what brought her to Cowan and what has helped her succeed in her role.

What is your background?

I have a degree in science from the University of Guelph. When I was in school, I wanted to pursue a career in the healthcare field, so after graduation, those were the roles I gravitated to. Eventually, I landed an underwriting position for a large national insurance company in their group benefits department.

Later, I had an opportunity to join a tech start-up as their chief operating officer. This was a great chance to learn how to build a company from the ground up. While challenging, it also gave me a strong appreciation for the value of a great team. When working long hours trying to make a business profitable, having the right people surrounding you is essential.

What brought you to the insurance industry?

I didn't necessarily make a conscious choice to go into insurance initially. My first insurance role was offered to me. After working for a tech company, I wanted something more manageable and predictable. It made sense for me to reenter the insurance industry at that point. My experience on the carrier side gave me a good understanding of how the process worked, and the leadership skills I gained at the tech company led me to benefits consulting. I was interested in working with clients directly, understanding their needs, and taking a tailored approach to their benefits.

At its core, science is understanding systems and how they work in the big picture. I like to apply that to my thinking when working with companies. While what I do isn't explicitly science-related, many new health and wellness products are coming into the market. My background gives me a greater understanding of these new products when discussing features and benefits with clients.

Are you looking to take the next step in your career?

How do the tech and insurance industries compare?

Like the tech world, insurance is always trying to innovate. Improving user experience, experimenting with automation and technology, and creating new solutions are common to insurance and high-tech companies. Insurance can get a bad reputation for being a bit stuffy, but many people are passionate about what they do. It's actually a fascinating time in the industry.

What is your current role at Cowan?

I am a consultant on our group benefits team, primarily with our TechLife business. I work with start-up and scale-up companies, helping them to define their employer value proposition and determining what type of group benefits offering would attract the talent they need to be successful. In a competitive job market, there is a lot of demand for skilled employees, so it's essential to differentiate yourself from the crowd and offer something your employees want.

My role allows me to be creative, problem-solve, and build solutions that may not exist before. It's not handing out cookie-cutter products and doing the same thing daily. There are also many opportunities to collaborate with other lines of business to create holistic offerings for clients and learn about different aspects of the insurance industry.

How does your experience inform how you work with Cowan clients?

Having worked in a tech start-up previously, I have a lot of insight into their challenges. Some companies can be wary of 'outsiders ' who don't understand the start-up culture coming in and trying to sell them things. My experience helps me build the trust that is so important in a client relationship.

Unlike insurance products such as liability insurance, there isn't a set point when a company needs to extend a group benefits offering to their employees. It's more about when you want to attract and retain your talent. Much of what I do is helping clients understand the value benefits can bring to their business. Many recent studies discuss increased employee job satisfaction when implementing a benefits program. When you compare the cost of a benefits program to other incentives like raises or bonuses, it can make a lot of financial sense as well.

What advice do you have for people from other industries looking to break into the insurance industry?

Some may think insurance isn't interesting, but that's a misconception. I'd encourage people to go into it with an open mind, focus on what they're good at, and add value. Be open to trying new things and explore areas of the industry that align with your interests.

Looking to make a career change this year?