Let’s face it. Insurance is a pretty contentious topic.
One day, my classmate and I were sitting in Professor Paul Johnson’s office during his office hours, talking with him about the challenges of entering a field like insurance, especially given the negative perception many Americans have of it. Risk & Insurance Outreach Coordinator Jodi Wortsman happened to overhear our conversation and asked if we’d be interested in helping plan discussion questions for an upcoming Co-Curricular Learning Board (CCLB) event. And just like that, the “Public Perception & Challenges in the World of Risk and Insurance” event was born.
On April 9th, 2025, 63 students and 10 company representatives attended the event. It brought together actuarial science and risk management and insurance students who are passionate about making a difference in the insurance industry with professionals from CCLB partner companies who are eager to share their knowledge with the next generation of risk and insurance leaders. In small discussion groups of about five people per table, we explored challenges to public trust and perception in the insurance space, such as the use of AI in claims processing, insurers pulling out of certain states, and poor communication from insurance companies.
At my table, we talked about the widespread misunderstanding the public has about insurance, and how, as future leaders in the industry, we have a responsibility to explain in a clear and digestible way that insurance is a necessary benefit.
My dream is to become a health actuary, but I know that public perception of health insurance in particular is often negative. In light of the murder of United Healthcare CEO Brian Thompson, I began to question whether I could work in a field where people might see me as the enemy. But this CCLB event reaffirmed something important: people will always find something to criticize about insurance. What matters is that we stay grounded in our belief that we’re making a positive impact, whether people recognize it or not.
That said, there’s no denying that the insurance industry is far from perfect. While misunderstandings from the general public do contribute to its negative perception, there are also very real issues that deserve attention. Issues like limited transparency in claims processing, unclear rate changes, and a profit-driven structure that can sometimes neglect the needs of policyholders all contribute to a lack of trust. Like any large industry, insurance has its share of bad actors and flawed policies, and within a broader economic system where costs continue to rise, it is understandable why many people feel frustrated. This is exactly why we, as future business leaders in the insurance industry, have a responsibility to help drive meaningful change. By advocating for fairness, clearer communication, and ethical decision-making, we can work toward rebuilding public trust and ensuring that the industry better serves the people who rely on it. Even with its shortcomings, insurance still provides a service that, when done right, does far more good than harm.
Overall, this CCLB event sparked honest conversations about the realities and challenges of working in the insurance industry and reminded all of us why this work matters. The biggest takeaway for me was that while public perception is complex and sometimes disheartening, we can respond with transparency, integrity, and a commitment to doing what’s right.
I’m incredibly grateful to the CCLB representatives from American Family Insurance, M3 Insurance, Milliman, and TruStage for taking the time to engage with us at this event. Their insights made the discussions meaningful and helped us reflect on the role we each play in shaping the future of insurance. (Swiss Re which is also a CCLB member was not able to attend this event.)
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