Karen Hawk

Tell us a bit about your career journey. How did you find your way into the insurance world?

I’m currently a Senior Underwriter at Markel, working in binding P&C. That means I get to touch a little bit of everything from General Liability to Marine and Property, and even some special events. It’s a wide range, and that’s part of what keeps it interesting.

Before entering the insurance world, I served in the military. After I was released, I decided to go back to school and pursue a degree in Finance with a concentration in Risk Management. That’s when things really started to come together.

While I was at university, I was fortunate to discover Gamma Iota Sigma (GIS), an incredible organization that supports students looking to build careers in insurance, risk management, and actuarial science. They played a huge role in helping me break into the field. I’m really thankful for the guidance and support they gave me on the path to the role I’m in today.

Congratulations on being named a finalist for Underwriting Rising Star of the Year at the E&S Insurer Awards! What skill or quality do you think has been most important in getting you here?

Helping others. Always raising my hand and saying, “I can do it.”

Having the motivation and also motivating others to push themselves to do more. I think the potential we have as individuals is huge.

It really just takes discipline and the right mindset to believe you can accomplish whatever you set out to do.

What’s your favorite part of being an underwriter?

Honestly, I love everything! But I think my favorite part is helping others.

Knowing that when we assess a risk, it’s not just about what we receive. It’s about helping the customer and making sure they’re covered for what they need, and actually paying attention to those needs.

When we assess a risk, it’s not just about what we receive. It’s about helping the customer and making sure they’re covered for what they need.

What’s the most challenging part of your role right now, and how do you navigate it?

The most challenging part right now is analyzing risks on the property side, especially in coastal areas. Knowing that there’s a risk out there and looking at the current market conditions, it’s tough. Before, it was more of a “let’s go after it” mindset, rates were high, and the market was strong. But now, rates are coming down, and it’s getting harder to compete out there.

Before, it was more of a “let’s go after it” mindset, rates were high, and the market was strong. But now, rates are coming down, and it’s getting harder to compete out there.

It’s really competitive at this point. And it’s about finding the right balance. So, property in the coastal areas is definitely complicated today.

Thinking back to when you were starting out as an underwriter, what part of the learning curve did you find most difficult?

As I mentioned, I do a little bit of everything in underwriting, and I think the hardest part was trying to grasp it all.

We’re not like specialized brokers who get to focus on just one product line with the same type of training. For us, we have to get training on all of it. Even though it might be in a small commercial section, we still need to understand each part, not just third-party, but first-party liability too.

I found that to be challenging in the beginning; there was a lot to take in. It’s a continuous learning experience, and it never really stops because there’s always something new coming up. But it’s a lot of fun at the same time! 

Are there any technologies or systems that have made your day-to-day underwriting work easier?

There are multiple platforms out there. Technology has advanced so much that now we have tools that help us analyze our daily routines, like how much time we spend in meetings, how much time we actually spend working on submissions, things like that.

They’re all helpful. It’s great to have something that lets you look back and say, “Okay, this is where I need to spend more of my time, and maybe I should be spending less here.” It really helps us figure out where our focus needs to be.

There are just so many platforms now, and technology keeps moving forward. It’s honestly surprising how much we’re able to accomplish as the years go by.

How do you spot the best risks when you’re dealing with a high volume of submissions?

Speaking specifically about property right now. There’s technology that can tell us, in real time, where there are things like active fires. We also have tools that help us check things like hail zones or crime scores in an area.

All of that helps us make decisions quicker, whether something looks like a good risk or if it’s something we might want to stay away from.

Do you think the E&S space is becoming more competitive? If so, how can underwriters stay ahead of the curve?

By continuous learning, doing our research. Staying up to date with what’s out there, new businesses, and new technology.

It is competitive. And it’s only getting more competitive as the space keeps growing, which is actually great to see. But it really comes down to continuing to learn and making sure we keep that knowledge going.

It’s only getting more competitive as the space keeps growing, which is actually great to see. But it really comes down to continuing to learn and making sure we keep that knowledge going.

How do you see AI being used to underwrite risks? Is there a particular use case you’re mostly excited about?

I would love to have access to something that gives us a fresh view on properties.

Being able to actually see how it looks out on the streets, how it looks today,  that would be awesome. Something that gives us the point of view like, “Oh, this isn’t how it looked five years ago. This is how it looks today.”

That kind of real-time insight would be really helpful.

I know there are some tools out there already, but not all companies have access to them. If something like that could be accessible to everyone, that would be amazing.

Looking ahead 5 to 10 years, how do you think underwriting will change?

Thinking about underwriting, I don’t think it’ll change too much when it comes to using technology. Tools will always be helpful; they help us assess the right risks and make sure our book stays healthy.

But at the end of the day, we as humans are still needed. We still have the common sense, that ability to say, “Let’s look at this from a different angle,” instead of relying completely on a machine or AI system to do it for us.

There are tools out there now where you can input information and get a report instantly. But for the more complex accounts, we’re still needed, and we will still be needed ten years from now.

So yes, AI and new tech can absolutely help us make better decisions. But we’ll still be out here, doing the underwriting.

AI and new tech can absolutely help us make better decisions. But we’ll still be out here, doing the underwriting.