'Sky's the limit' – CAC Group CEO on growth and innovation

A leadership change and rebrand have positioned it for future success

'Sky's the limit' – CAC Group CEO on growth and innovation

Insurance News

By Gia Snape

CAC Group is gearing up for significant growth in its agency business and specialty platforms this year, according to its new chief executive.

Erin Lynch (pictured) has taken the helm of the specialty insurance brokerage and advisory firm, replacing Mike Rice, who assumes the role of vice chairman. The leadership change comes on the heels of a rebrand last year, where CAC Group combined its three business units – CAC Specialty, CAC Agency, and CAC Capital – under a single brand identity.

Lynch spoke to Insurance Business about her vision and priorities for CAC Group, opportunities for growth, and the biggest challenge for the growing organization.

“After last year’s rebrand, I see tremendous organic growth opportunities to continue supporting and expanding this business,” she said.

How is CAC Group pursuing growth in specialty insurance?

Lynch, who previously served as president of CAC Specialty’s natural resources practice, highlighted her focus on expanding the specialty platform, especially within property and casualty. But she said it’s not about rapid expansion for its own sake but rather measured, strategic growth in areas where the company has already demonstrated success.

“Sky's the limit on the specialty platform,” Lynch said. “(It) has immense potential. We have an unbelievable transaction risk team, a strong financial lines team, and outstanding specialty businesses in natural resources and healthcare.”

At the same time, the group isn’t ruling out mergers and acquisitions (M&A) as a means of acceleration. Recent history, such as the acquisition of Media Guarantors, provides a glimpse of what’s possible. “Moving into 2025, we’ll remain focused on finding opportunities that align with our culture and support our team,” Lynch said.

In terms of specific targets, Lynch acknowledged her specialty background and how that shapes her thinking. She’s drawn to replicating CAC’s success in natural resources across other specialty sectors. Beyond that, she sees promise in duplicating what the company has achieved with its agency business in Birmingham, Alabama.

When asked about the potential to accelerate acquisitions in 2025, Lynch was confident but temperate about the firm’s pipeline. “With the current consolidation trend in the brokerage space, we’re in a strong position,” she said. “We’re nimble, able to act quickly, and have a compelling story to tell when it comes to attracting top talent."

However, CAC Group’s emphasis remains on making thoughtful choices. “Any type of acquisition needs to be the right cultural fit for us,” Lynch added.

Combating challenges with innovation

Lynch was also candid about the challenges CAC Group and the wider insurance industry are confronting.

"My background is in property and casualty and the natural resources space, so natural catastrophes are always top of mind,” she said. The threat of catastrophes is close at hand; Lynch cited the Los Angeles wildfires, which have impacted CAC Group’s employees.

“The natural catastrophe market poses significant challenges for property and casualty, impacting everything we do in natural resources and, on a larger scale, the property market,” the CEO continued.

“These challenges demand that we remain nimble, innovative, and focused in helping clients navigate them. Over the past five years, we’ve seen this, particularly in the renewable energy sector, and it’s becoming more evident across the broader property book. We’re preparing and shoring up for these challenges, but there’s no doubt they remain a major obstacle."

The antidote lies in innovation and collaboration, leveraging cutting-edge tools like artificial intelligence (AI) and analytics to streamline business processes and elevate the client experience. Lynch shared she was drawn to CAC in part because of its approach to analytics and technology.

“It’s been incredible to work with such talented analytics and technology teams, and we’ve invested heavily in this area. The landscape of technology, AI, and analytics is changing rapidly, and we’re committed to leading in ways that always prioritize client needs,” she said.

Innovation at CAC is not just about technology; it’s also about fostering a culture that allows employees to thrive. Lynch expressed a commitment to breaking down bureaucratic barriers that can stifle creativity and progress.

“Culturally, what sets CAC apart is empowering employees with the best tools and removing unnecessary red tape,” she said. “We strive to create a space where top talent can innovate and lead, and we see the results of that approach throughout the business."

How is your brokerage tackling challenges and embracing innovation? Please share a comment below.

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