A fifth of insurance payouts after Hurricane Melissa could originate from Bermuda’s reinsurance market, according to experts at a recent event that highlighted how local claims professionals play a critical role when disasters strike the Caribbean.

During a panel discussion at Future Claims Bermuda, sponsored by the Bermuda Foundation for Insurance Studies and Docosoft, Victoria Cunningham, the executive director of BFIS, underscored the island’s outsize impact in the disaster: “Twenty per cent of that loss might come out of Bermuda,” she said.

While hundreds of millions flow through Bermuda to support recoveries across the affected region, Ms Cunningham urged young Bermudians to look closely at the varied and “exciting” world of insurance claims — a field panellists felt was too often overshadowed by the more visible roles of underwriting and broking.

“If you’re looking for excitement, you can have that in claims as well. There’s a lot happening in claims, and a lot of things are developing,” said panellist Erin Levon, a senior claims adjuster at The Fidelis Partnership.

She warned students not to underestimate claims: “Don’t come into insurance thinking that the only thing you can do is underwriting or that that’s the only thing that’s going to excite you.”

For Jade Stewart, a junior claims analyst at RenaissanceRe, the appeal lies in investigation and problem-solving.

“If you’re always asking why, like you’re a why person, I’m a why person, I always ask why, I like to investigate — I think claims is a good route to take,” he said.

The panellists said the job’s variety kept things interesting, with some of the most memorable claims coming from unexpected places. “We get aviation claims all the time — bird strikes, missing aircraft parts,” noted Ms Levon.

For Ms Stewart, the challenge lies in the complexity of major losses, such as calculating potential damages in space and satellite claims. “You can’t really put a price on anything,” she said.

She also recalled working closely with a colleague on a recent collaborative claim — “a lot of teamwork to build it from scratch” — illustrating how claims can require creative solutions and close co-operation.

Jordan Edness, a junior claims analyst at RenaissanceRe, compared the claims department to the nerve centre of a supermarket.

“Claims is like checkout,” he said. “We see the most [action], all of these products, different understandings, different perspectives.”

He described the day-to-day work as fast-paced and varied. “What’s sexy? Persons get paid bills — that’s what’s the priority. One day I might be paying you like my regular routine, then the next day it might be a project that I have to jump on. So there’s no day that’s like yesterday.”

Panellists emphasised that claims roles are crucial whenever hurricanes or other disasters hit the region, such as the recent Hurricane Melissa. The panel also pointed to the importance of staying alert to international news.

Ms Cunningham recalled that none of the students in a group she recently spoke to “could tell me that a Cat 5 hurricane was about to take Jamaica” — a telling sign of how crucial it is to keep an eye on global risks.

Behind the numbers, the work carries real-world responsibility. Ms Stewart said: “Being able to talk on something that you’re working on is the best part about it, because you show that you understand,” she said. “People can trust your judgment about where this claim has to go next, how you build on it.”

Globally, Bermuda’s reinsurance industry has paid more than $1 trillion in claims since 2016, according to BFIS.

Panellists said this track record had opened pathways into insurance for Bermudians from a wide range of backgrounds — often with the help of internships, networking and continuous learning.

As disasters become more frequent and unpredictable, industry leaders want young people to know that the claims profession offers both challenge and the chance to make a major difference.

“Next time you see a catastrophe on the news, ask yourself: Who’s paying for this? Maybe, in five years’ time, it could be you,” Ms Cunningham said.