Rising Star Sanju Rajan Provides Insight on the Transportation Industry’s Latest Happenings and Biggest Risk Areas
Come see the Stars! As part of our ongoing coverage of the best brokers in the commercial insurance space, Risk & Insurance®, with the sponsorship of Philadelphia Insurance, is expanding its coverage of the Rising Stars, those brokers who represent the next wave of insurance brokering talent.
Look for these expanded profiles on the Risk & Insurance website and in your social media feeds now and continuing into 2022.
In this installment, we’re talking to Sanju Rajan, a Transportation Sector Power Broker in 2021.
Risk & Insurance: How much are labor shortages impacting the risk management effectiveness of your clients?
Sanju Rajan: We have few clients affected by staff turnover on the engineering and operations side.
Our clients/risk managers have proactively engaged brokers and insurers and their expertise to fill in any gaps. The return to normalcy in a post-pandemic society will help to further blunt labor shortages.
R&I: Are you seeing evidence of increased fraud and/or theft exposures in the transportation sector? If so, to what degree and in what ways?
SJ: Theft exposures are not new in the transportation sector.
Our transportation/logistics clients have engaged their own enforcement officers to have oversight on any theft exposures.
Through active scrutineering and enhanced security protocols, our clients are at the forefront of ensuring security and stability as it is crucial for their customers and stakeholders.
R&I: How much of a factor is the aging infrastructure in the U.S. in the risk management considerations of you and your clients?
SJ: Aging infrastructure is a key issue for my clients. The current inflationary pressures of commodities, raw materials and supply chain woes have pushed a holistic approach to managing risk.
There is active engagement from risk management, finance and engineering to address capital expenditures for aging infrastructures.
We see more inspections put into place with a close eye on any defects/age related issues. Broker and insurers are also part of the conversation as we have their engineers actively engaged if they are on the program.
R&I: If you could point to two key insurance product advancements in your work what are they?
SJ: Cyber coverage and terrorism (with expanded emphasis on active shooter and strikes, riots and civil commotion) are key advancements.
R&I: What’s your impression of the progress the commercial insurance area is making in the area of diversity and inclusion?
SJ: There is an active effort on diversity and inclusion in the commercial insurance industry.
Progress is always married to diversity of thought.
There is a long-term vision for talent retention and nurture of colleagues from a diverse and inclusive pool. It drives innovation and builds a strong community. &