Risk Management

The Profession

Amanda Lagatta, Target’s director of insurance and claims, was drawn to risk management in high school and praises the value of college graduate risk management programs.
By: | October 1, 2016 • 4 min read

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R&I: What was your first job?
I did copying, filing, data entry and other clerical tasks at a local HMO while I was in high school.

R&I: How did you come to work in risk management?
Almost all of my jobs have been related to insurance, starting with the HMO and including work in the coordinated care/utilization review department at a hospital while I was in college. I was interested in what I learned in those jobs, so I decided to major in risk management and insurance while I was at UW-Madison. Through my classes, I realized that a career in risk would allow me to do several of the things I love — problem-solving, negotiating and building strong relationships with people.

R&I: What are the benefits of internships and college graduate training programs? Are they a good tool for attracting more young people to the field of risk management and insurance?

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I think they’re a great way to start building a network of contacts early on, and a great way to get new graduates familiar with different aspects of the industry. As recruiting tools, I think they will be important programs because they offer new graduates a foot in the door and a clear path forward, as well as hands-on training that gives you experience right off the bat.

R&I: What is the risk management community doing right?
Developing and improving upon analytics to help drive decisions, including predictive analytics for claims operations and platforms to help determine limits and retentions to manage volatility. There is still room for these platforms to continue to improve and evolve, but the growing commitment is great to see!

R&I: What was the best location for the RIMS conference and why?
San Diego. What is not to love about Southern California after a long Minnesota winter!

R&I: What emerging commercial risk most concerns you?
I think it will be very interesting to see how the industry changes as new risks around Internet of Things and technology continue to emerge.

R&I: What’s been the biggest change in the risk management and insurance industry since you’ve been in it?

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In addition to greater use of data and analytics, I appreciate that risk management is moving beyond just traditional insurance. We are getting more comfortable with risk-taking and more creative with alternative risk transfer solutions.

R&I: How much business do you do direct versus going through a broker?
We do everything through a broker.

R&I: Who is your mentor and why?
I am fortunate to have met many people I admire and respect over my years in the industry and they have taught me so much about how to be successful. Currently, I have several mentors both in the insurance community and internally at Target. It is helpful to have both as I continue to develop. Sometimes I am looking for guidance on career development or risk management-specific concerns, and other times it is great to talk through more general ideas such as how to become a better manager or team advocate.

R&I: What have you accomplished that you are proudest of?
I ran the Twin Cities Marathon several years ago.

R&I: What is your favorite book or movie?
“Love Actually.” I watch it every Christmas while making cookies.

R&I: What is your favorite drink?

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Craft beer. I like IPAs or saisons. Currently, my favorite is Insight Brewing’s Sunken City.

R&I: What’s the best restaurant you’ve ever eaten at?
That’s so hard to decide. I am currently working my way through the Eater.com list of best restaurants in the Twin Cities and try to go to restaurants on those lists everywhere I go.

R&I: What is the most unusual/interesting place you have ever visited?
Iceland. It is so bizarre but also amazingly beautiful.

R&I: What is the riskiest activity you ever engaged in?
I am a very risk-averse person … maybe zip lining?

R&I: What about this work do you find the most fulfilling or rewarding?
I love that every day is different and that we get to learn about what is going on and support so many areas of the company. The days are full of problem-solving to help the company achieve its goals — either through helping to keep team members and guests safe, protecting profits or finding creative ways to support new business initiatives.

R&I: What do your friends and family think you do?
Most of the kids I know are disappointed to learn that I am not a cashier at their local Target store. Most others settle for a business job at the corporate office or “something related to insurance.”




Katie Siegel is a staff writer at Risk & Insurance®. She can be reached at [email protected]

More from Risk & Insurance

More from Risk & Insurance

Risk Management

The Profession

After 20 years in the business, Navy Pier’s Director of Risk Management values her relationships in the industry more than ever.
By: | June 1, 2017 • 4 min read

R&I: What was your first job?

Working at Dominick’s Finer Foods bagging groceries. Shortly after I was hired, I was promoted to [cashier] and then to a management position. It taught me great responsibility and it helped me develop the leadership skills I still carry today.

R&I: How did you come to work in risk management?

While working for Hyatt Regency McCormick Place Hotel, one of my responsibilities was to oversee the administration of claims. This led to a business relationship with the director of risk management of the organization who actually owned the property. Ultimately, a position became available in her department and the rest is history.

R&I: What is the risk management community doing right?

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The risk management community is doing a phenomenal job in professional development and creating great opportunities for risk managers to network. The development of relationships in this industry is vitally important and by providing opportunities for risk managers to come together and speak about their experiences and challenges is what enables many of us to be able to do our jobs even more effectively.

R&I: What could the risk management community be doing a better job of?

Attracting, educating and retaining young talent. There is this preconceived notion that the insurance industry and risk management are boring and there could be nothing further from the truth.

R&I: What’s been the biggest change in the risk management and insurance industry since you’ve been in it?

In my 20 years in the industry, the biggest change in risk management and the insurance industry are the various types of risk we look to insure against. Many risks that exist today were not even on our radar 20 years ago.

Gina Kirchner, director of risk management, Navy Pier Inc.

R&I: What insurance carrier do you have the highest opinion of?

FM Global. They have been our property carrier for a great number of years and in my opinion are the best in the business.

R&I: Are you optimistic about the US economy or pessimistic and why?

I am optimistic that policies will be put in place with the new administration that will be good for the economy and business.

R&I: What emerging commercial risk most concerns you?

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The commercial risks that are of most concern to me are cyber risks, business interruption, and any form of a health epidemic on a global scale. We are dealing with new exposures and new risks that we are truly not ready for.

R&I: Who is your mentor and why?

My mother has played a significant role in shaping my ideals and values. She truly instilled a very strong work ethic in me. However, there are many men and women in business who have mentored me and have had a significant impact on me and my career as well.

R&I: What have you accomplished that you are proudest of?

I am most proud of making the decision a couple of years ago to return to school and obtain my [MBA]. It took a lot of prayer, dedication and determination to accomplish this while still working a full time job, being involved in my church, studying abroad and maintaining a household.

R&I: What is your favorite book or movie?

“Heaven Is For Real” by Todd Burpo and Lynn Vincent. I loved the book and the movie.

R&I: What’s the best restaurant you’ve ever eaten at?

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A French restaurant in Paris, France named Les Noces de Jeannette Restaurant à Paris. It was the most amazing food and brings back such great memories.

R&I: What is the most unusual/interesting place you have ever visited?

Israel. My husband and I just returned a few days ago and spent time in Jerusalem, Nazareth, Jericho and Jordan. It was an absolutely amazing experience. We did everything from riding camels to taking boat rides on the Sea of Galilee to attending concerts sitting on the Temple steps. The trip was absolutely life changing.

R&I: What is the riskiest activity you ever engaged in?

Many, many years ago … I went parasailing in the Caribbean. I had a great experience and didn’t think about the risk at the time because I was young, single and free. Looking back, I don’t know that I would make the same decision today.

R&I: What about this work do you find the most fulfilling or rewarding?

I would have to say the relationships and partnerships I have developed with insurance carriers, brokers and other professionals in the industry. To have wonderful working relationships with such a vast array of talented individuals who are so knowledgeable and to have some of those relationships develop into true friendships is very rewarding.

R&I: What do your friends and family think you do?

My friends and family have a general idea that my position involves claims and insurance. However, I don’t think they fully understand the magnitude of my responsibilities and the direct impact it has on my organization, which experiences more than 9 million visitors a year.




Katie Siegel is a staff writer at Risk & Insurance®. She can be reached at [email protected]