Chapter Volunteer Profile:
By Patrick Raleigh, Sr. Product Marketing Manager, Insurance Document Services, Merrill Corporation, Past President of the IASA Land O' Lakes Chapter
Featured Volunteer: Chad Stein, Sr. Director, Finance, Statutory Reporting, Travelers
VP of Membership for the IASA Land O' Lakes Chapter
eInterpreter: What was the first IASA Chapter event you attended and what inspired you to go?
Stein: It was many years ago and I don't remember exactly when my first event was. I do remember it was a fall meeting where the NAIC accounting and blanks changes were discussed.
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eInterpreter: What is the biggest benefit of having access to insurance education locally to you and your company?
Stein: It is convenient, cost effective, and keeps me up to date with the industry and trends.
eInterpreter: If money was no object...what would you love to do for a living?
Stein: I would love to hop in an RV with my husband and dogs, travel wherever the RV could take us and write reviews of our travels for tourist magazines/websites. There is so much to see without ever having to cross an ocean.
eInterpreter: Do you have any hobbies that could affect your personal insurance premiums?
Stein: Thankfully, no. I’m not a big risk taker, unless getting stung by a bee while working in my garden counts.
eInterpreter: Do you volunteer for any other organization than IASA? If so, which organization and why?
Stein: I’m the chair of the finance committee and sit on the Board of Directors for my church. It’s a small church that has an older congregation that has been running the place for years. So as a fairly new member, I stepped up to offer my services to give some of the old timers a break and offer my expertise in the finance area.
eInterpreter: Besides family and friends, what 3 things could you NOT live without?
Stein: Even though I consider my dogs family, I still will say my dogs, milk, and singing.
eInterpreter: How did you first get started in the insurance industry?
Stein: By accident and this is going to be a long winded answer. I initially went to school to be a physician. During my undergrad I worked in the U of MN emergency room. Many of the doctors there whom I respected told me that medicine is not what it used to be. There is a lot of red tape, long unpredictable hours, so much time spent documenting, and health insurance companies now dictate the treatment for the patient based on what’s covered, not necessarily what the doctor feels is best for the patient. So they didn’t recommend going into medicine. My mother had been a nurse for 35 years and she felt the same and didn’t want me to go into medicine either. So what do I do since I’ve dreamed of being a doctor ever since I got my very first Fisher Price Doctor’s kit? I eventually end up working for an insurance company (Hahaha, albeit a property and casualty one.) I got a job for the Wilder Foundation doing the book keeping for their dental and rehab clinic. I was hired specifically for my computer knowledge to get their systems in shape while I did the book keeping learning accounting along the way. During that time, I took a programming course for fun. A classmate worked for St. Paul Companies and would always ask for my help and thought I would be a great fit for a job in her department with my computer skills which is another hobby of mine. Next thing I know I was working for St. Paul Companies working in the Statutory Reporting area as an IT support person. I ended up automating myself out of a job, so I started to work on the accounting, went back to school and got my Master’s degree and have been in Statutory Reporting for 18 years learning a lot along the way and have enjoyed every moment of the journey.
eInterpreter: What would you say to a colleague, or even a peer at another company, who has never attended an IASA Chapter event about getting involved?
Stein: I’d say the local chapter is the way to go initially as I did. Although I don’t need CPE credits, I still learn a lot at the sessions which keeps me up to date with the insurance industry. Beyond that, you make great contacts with other folks in the industry as well who have become a great resource to bounce questions off of. The national level is much the same, just at a larger scale.
eInterpreter: What is your current job and what aspect of your position do you find most rewarding?
Stein: I am the Sr. Director of Finance in Statutory Reporting for Travelers Insurance. What I find rewarding is the Statutory Accounting in general. It’s a unique skill set that is ever changing. Staying up to date with the NAIC changes each year keeps the job from getting stagnant and boring.
eInterpreter: So after a tough day…is your release a good work out, a certain food, or something over ice?
Stein: None of the above. After a tough, stressful day, I prefer to garden. There is something very satisfying about pulling those darn pesky weeds that helps relieve my stress. Take that dandelion!
Pictured: Chad (Left), his husband Stefan (Right), & their two dogs Dori (Black), Elsie (Brown)
Pictured: Chad, niece Leah, & dog Elsie