The Building BITE - SoundSage

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Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. The Building BITE hosts Chris Epps, LEED AP and Mike Diercksen, CRIS, welcome back Rose Hall, VP and head of Construction Innovation at AXA XL, and new guest Cutler Knupp, Managing Director of Dysruptek.

We begin the episode by discussing what initially drew each of our guests into the world of construction, with a focus on the technology and innovation side of the industry. It is a great discussion filled with problem solving and opportunity, featuring two different stakeholders coming together to solve complex industry issues. While there are many dynamic take aways from the conversation, Rose and Cutler give our listeners three key takeaways and best practices when looking to “Demystify Advanced Technology”:

You don’t know unless you try: Embrace the change! Historically our industry has been slow to adopt, but Cutler argues the cost of inaction is greater than the commitment to technological advancement. While there are inherent growing pains associated with this, it is best to “fail often and fail fast” as your company learns to navigate what works best for them.
Have a dedicated Innovation leader: It is imperative that you look to not only create a dedicated seat within the C-Suit for Innovation, but that you provide that person with adequate support from within. Having the proper mind set to align your risk, business, and innovation strategy is the only way to move forward successfully.
Look internally first: By starting with the hard questions and identifying internal issues that could be the most impactful for your firm. Try and identify these issues and if there are dedicated resources either internally or externally, and then initiate that conversation to see what could be done. Even the most advanced solutions begin with a first step, and this would be the ideal first step when looking to innovate.

To learn more about how you can better prepare your firm for the challenges and innovating opportunities ahead, listen to our full podcast episode with Tracy on “Demystifying Advanced Technology”

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We begin the episode by discussing Tracy’s path to Insurance Law and what drew him to the field. Realizing how complex this area of law was, and the unique challenges that each project would present, Tracy was driven to open his own firm, SDV Law. Operating on a national scale, SDV employs 50 lawyers and specializes in representing policyholders in insurance coverage disputes. While diving into our topic, Tracy gives our listeners three excellent takeaways and best practices when exploring Builders Risk Coverage:

If a claim occurs, get off email and stop finger pointing: Rather than begin with finger pointing, look to process the first party claim, get the money to help rectify the issue, and then figure out if there even is a need to pursue further action. Sending emails and prematurely issuing blame can lead to potential exclusions in the policy and create larger problems down the road.
In the event of a new claim, treat this as a new project: When a claim occurs, make sure your team is prepped and ready to treat the project as a brand new one. The events of the claim may drastically impact the way in which you have to operate to complete the project, and your billing codes should be updated accordingly to reflect those changes.
Assemble your entire team pre-loss: If you are going to have an outside expert either for scheduling, quantification, engineering etc. It is important to not only identify this team, but to consistently use this team to help build familiarity among the parties. This will allow for improved coordination and expedite the mitigation efforts for the insured.

To learn more about how you can better prepare your firm for the challenges ahead, listen to our full podcast episode with Tracy on “A Focus on Builders Risk, From a Legal Perspective”

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Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. The Building BITE hosts Chris Epps, LEED AP and Mike Diercksen, CRIS, welcome Eric Anderton, Executive Coach and host of Podcast, Construction Genius.

We begin the episode by discussing Eric’s path to Construction. Beginning his career in sales, Eric eventually connected with a leadership development program before venturing out on his own. While Eric never worked in the industry directly, he felt a connection to the builders and has continued to expand his network within the Construction space. When diving into our topic, Eric gives our listeners three excellent takeaways and best practices when leading a team:

Never Settle: Like that of a GM in any major sports league, companies must always be looking to develop and improve their team. By never settling, you are constantly looking to help enhance your current team, while always keeping an eye on the market to find opportunities to bring in people who can improve areas of weakness within the firm.
Importance of 1-to-1 meetings: If you want to develop your team and improve communication, you MUST have 1 on 1 discussions. Utilizing tactics like setting an agenda and empowering them to bring both challenges they have or ideas to enhance the internal process are key. Eric sets the scene as an oasis of development and conversation for your team, refreshing and encouraging them as they continue their path through the project lifecycle.
Incorporate EAR framework every day: You must be able to every day put your arm around your team and encourage them (E) telling them “You can do it”. Additionally, you must look to hold your team accountable (A), and confirm “did you, do it?”. Lastly, you must recognize (R) them, “you did it!”.

To learn more about how you can create a leadership culture where you never settle, listen to our full podcast episode with Eric on “Never Settling”

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Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. The Building BITE hosts Chris Epps, LEED AP and Mike Diercksen, CRIS, welcome Sarah Carson, Partner at Smith Currie here in Raleigh NC.

We open our episode by discussing Sarah’s path to construction law and what drew her to the field. Realizing how complex this area of law was, and the unique challenges that each project would present, Sarah was quick to dive in and begin learning as much as possible. Now an accomplished attorney and a leader in legal issues impacting the construction industry, Sarah leads the local Raleigh, North Carolina office for Smith Currie and also practices in Georgia and DC.

While diving into our topic, Sarah gives our listeners excellent takeaways and action items regarding the best practices when looking to expand business operations into new states and territories:

Don’t Underestimate Your Ability to Succeed in a New Market: It can be scary to take on the risk of expansion, but now there are plenty of tools to help make that transition a successful one. The opportunity is there and can be a real launch point for companies in the construction industry to thrive. Sarah discusses these innovations and the opportunities for success.
Understand the Where, Why, and When: Decisions like these do not happen in a vacuum, and should be done after detailed planning and assessment. Take the time to really dig into where you want to expand and why you believe the market will lead to success. Most importantly is the “when”. As Sarah mentions, you need to be dialed in and understand the proper timing both from an internal standpoint for licensing and as well as dialed in to the current needs of that market and future opportunities within.
Be an Active Participant in Your Companies Growth: It is not enough to just do your research and make the jump to a new market, there needs to be a commitment to the process. Constantly looking to better understand the complexities of your new market and maintaining a working knowledge of the active and pending laws is an ongoing endeavor and is crucial to success.

To learn more about how you can better prepare your firm for the challenges ahead, listen to our full podcast episode with Sarah on “How to Successfully Grow Your Business Into Different States.”

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Please tune in to this episode of The Building BITE Podcast as we hear from industry experts about key topics to help you be successful. The Building BITE host Mike Diercksen, CRIS, welcomes Paul Primavera (EVP), Matt Goss (SVP, Strategic Lead), and Tom Hester (SVP) of Lockton Companies.

We start our episode with Paul Primavera as he discusses the recent 2022 Construction Design & Outlook Report. With some critical advice and areas to focus on, Paul transitions to a focus on Builders Risk, where we are introduced to Matt and Tom. From there, Matt and Tom provides us with some background on themselves and the unique opportunity they had to recognize an area of need and develop a great program to benefit their insureds.

While discussing today’s topic, Matt and Tom leave our listeners with some excellent takeaways regarding Builders Risk and some innovative solutions to the problems currently facing the market:

Need to get ahead of development strategy: A lot of what we are seeing is directly correlated to the Real Estate Boom, and it tells us that Developers are poised with robust pipelines right now. Now more than ever, we advise our clients to take the time to analyze the different risks concerning their target projects and get ahead of potential issues.
Control: With the market currently dealing with a wide array of issues due to inflation, it’s imperative to control internal processes and stay ahead of the curve. Working with your broker to leverage existing relationships within the market may provide the financial stability needed to maintain projects and avoid bringing in outside parties late in the game.
Need to align the risk to actual coverage: We know clients want to keep moving forward and build, but it is essential to periodically pump the breaks to ensure we align risk with coverage. By identifying your project risk accurately, we can avoid potential oversights in coverage that might hurt the balance sheet later in the project in case of a claim.

To learn more about how you can better prepare your firm for the challenges ahead, listen to our full podcast episode with Paul, Matt, and Tom, “A Construction Outlook in 2022, with a Deeper Dive into Builders Risk.”

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Podcast: The Building BITE Episode: “How to Identify and rectify bad contract language”

Please tune in to this episode of The Building BITE Podcast as we hear from industry experts about key topics to help you be successful. The Building BITE host Mike Diercksen, CRIS, welcomes Alexis Bradshaw, SVP of Construction Casualty at Marsh in NYC.

Alexis starts by sharing her professional career and how her career journey took a unique turn, from working in political strategies and campaigns to contractors and ultimately ending up working for various Brokers throughout the construction/insurance industry. Alexis continued to learn and grow professionally and eventually found herself as an SVP within Marsh’s Construction Casualty Group. With a desire for knowledge, Alexis is passionate about educating other professionals about her industry and being a valuable resource to clients and peers.

While discussing today’s topic, Alexis leaves our listeners with some excellent takeaways regarding their contracts and some best practices:

Don’t leave insurance coverage and negotiations to the end: You can’t assume that there is no bad contract language; it is out there! By bringing your Broker into the fold when crafting the insurance clause of the contract, you can alleviate future pitfalls. Brokers may be able to assist and offer alternative solutions to issues that would allow you to avoid further negotiations.
You may need to negotiate at a higher level as far as risk transfer is concerned: There is value in experience, and while project teams have varying degrees of expertise, it is wise to lean on the wisdom of your trusted advisors. Bringing in your Broker and allowing them to review contract language that might be too generic will enable them to provide value and detail out project-specific needs at a higher level.
Make sure to give your Broker the full contract: It is imperative that the Broker receive the full contract, as this will help provide additional context that enhances the Brokers impact on the process. Additionally, this will help clarify responsibilities within the contract and remove any ambiguity down the road.

To learn more about how you can better prepare your firm for the challenges ahead, listen to our full podcast episode with Alexis Bradshaw, “How to Identify and rectify bad contract language.”

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Please tune in to this episode of The Building BITE Podcast as we hear from industry experts about key topics to help you be successful. The Building BITE host Mike Diercksen, CRIS, welcomes Allison Nichols, Director of Standards and Compliance for Facilities Operations and Planning at the University of Miami.

Allison starts us off by sharing her professional career and how her career journey can be broken down into thirds working with Contractors, Owners, and Program managers/ Developers. Through all these experiences, Allison has continuously learned and grew as a professional and ultimately followed her passion. Ultimately, Allison shares how her journey has led her to the University of Miami, where she can incorporate all she has learned in managing projects to drive the university forward.

While discussing her path, Allison leaves our listeners with some excellent takeaways regarding their careers: 1. Be Passionate About Whatever You Choose to do: This is the number one thing when making a career decision. So much time is spent developing and learning the skills of your desired trade that it is critical you have a solid connection to the field. As Allison was drawn to Engineering, she enjoyed spending time learning and growing, which would have been made much more difficult had she not found a deep passion for it. 2. Be Transparent: Be willing to share with others! The more you can be transparent and communicate with people, the more they can share with you. By creating these types of bonds and relationships, you will get increased exposure to new and exciting thoughts while benefitting yourself and those around you. 3. Be Resourceful, Flexible, and Inquisitive: Many people leave school and are not very assertive when finding their way professionally. Just because you are new or young does not mean that you cannot ask questions of those around you! Showing that inquisitive side is a great way to demonstrate a willingness to learn which, opening many doors for you professionally. The exposure that comes as a byproduct of these questions and opportunities will help to fuel your career!

To learn more about how you can better prepare your firm for the challenges ahead, listen to our full podcast episode with Allison Nichols, Lifelong Learning, Finding Your Passion to Build a Career.

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Please tune in to this episode of The Building BITE Podcast as we hear from industry experts about key topics to help you be successful. The Building BITE host Mike Diercksen, CRIS, welcomes Parker Mundt, Operating Director for Suffolk Technologies, and the Managing Director of their Boost Program.

Parker starts us off by sharing his professional career and his road to his current position within Suffolk Technologies. Starting as a “Career Start,” Parker was exposed to several sides of the construction industry. He worked as a Project Engineer, Superintendent, and project manager while working on one of the larger projects in Boston. A few years into his tenure with Suffolk, Parker was offered the opportunity to work within a new team of Suffolk Technologies and act as the connecting bridge from the Suffolk Construction Team and helped drive Suffolk Technologies on where to invest and helping to add value to all stakeholders.

From there, Parker proceeds to identify his three main takeaways on closing the gaps within quality management: 1. Innovation in the Construction industry requires buy-in and absolute alignment across stakeholders: Rarely are all the various stakeholders, such as Insurance Carriers, Architects, Engineers, and the clients, perfectly aligned. That is how the Boost program came to be, as it provides an opportunity to generate some equity early in the project. Once that has been deposited into the project, it creates a greater sense of purpose, enhancing alignment. 2. Learn to fail fast: We have seen many companies face hardships and be forced to make difficult decisions early on. When you can assess the situation quickly and understand that you may not be able to achieve your goal, shutting the project down quickly provides the ability to innovate and try something new given what you have learned. 3. Reverse Mentorship: Be open to learning in a variety of ways. While there are great lessons to be learned from traditional mentorship, we often find that younger professionals who may be more inclined to challenge the status quo may offer a different viewpoint, leading to unique solutions. These types of new questions and thoughts will be what help drive the construction industry forward!

To learn more about how you can better prepare your firm for the challenges ahead, listen to our full podcast episode with Parker Mundt, Innovation in Construction Technology, The Boost Program.

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Podcast: The Building BITE Episode: Closing the Gaps in Quality Management

Please tune in to this episode of The Building BITE Podcast as we hear from industry experts about key topics to help you be successful. The Building BITE hosts Chris Epps, PSP, LEED AP, and Mike Diercksen, CRIS, welcome Chris Heider, Risk Engineer for Cove Programs, specifically in their Subcontractor Default Insurance (SDI) group.

Chris starts us off by sharing his professional career and the road he took to his current position with the Optio Group, the parent organization for Cove Programs. After spending 12+ years working for a mid-sized GC in Central Ohio, Chris was recruited away from the field by Zurich to work as a Casualty Risk Engineer. While at Zurich, Chris was introduced to SDI coverage (known at Zurich as Subguard) and grew very comfortable with that space, which allowed him to maximize his construction operations background. Now at Cove, Chris specializes in his field and assists all Cove Insureds through their SDI Program needs.

From there, Chris proceeds to identify his three main takeaways on closing the gaps within quality management: 1. The Need for Formal Programming and Executive Commitments: While there are seven key elements noted in Chris' call for formal programming, the internal executive champion is a key piece. This person will help own the process and help enact the designated plan, ensuring that all parties are meeting the program's mission statement and overall objective. 2. Establish Testing and Inspections: While it is essential to have your plan and a committed leadership team, how you can evaluate the effectiveness of that plan is equally crucial. Defining clear and established testing procedures allows the process to be more efficient and creates a more uniform approach that will yield repeatable processes which should improve the data. 3. Keep an Open Mind: Teams have plenty of opportunities to become better and constantly reevaluate their internal processes and offerings. By staying dialed in and continually looking to improve, GCs can continue to close the gap within their quality management process.

To learn more about how you can better prepare your firm for the challenges ahead, listen to our full podcast episode with Chris Heider, Closing the Gaps in Quality Management.

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Please tune in to this episode of The Building BITE Podcast as we hear from industry experts about key topics to help you be successful. The Building BITE hosts Chris Epps, PSP, LEED AP and Mike Diercksen, CRIS, welcome Adam Denno of Willis Towers Watson’s Default Insurance Group (DIG).

Adam leads off by sharing his professional growth and early interest within the data and analytics space, which eventually led him to the construction industry and the Con-Tech Insurance space. Then, equipped with significant resources within the DIG team, Adam expands upon his desire to dig deeper into the data and help his Insureds be better positioned to grow with the evolving market needs and opportunities that this data provides.

Diving into the topic at hand, Adam proceeds to identify his three takeaways on maximizing the effect of qualitative and quantitative data: 1. Access to Accurate Data is Critical: In this ever-expanding world of data and analytics, it is not just about how much data you can collect but what data you are collecting. These expanding opportunities are key to the industry’s growth; however, if you are not careful, you can dilute their impact by not identifying and focusing on the best for your business. 2. Technology is Evolving: Evolving technology will only continue to expand the universe of what we can track and integrate into our risk models. Keeping an open mind to new solutions or technologies will better equip you to keep pace with your competition. 3. Invest in People – Leading Contractors, Brokers, and Carriers invest in People, Programs, and Processes to ensure timely access to data and resulting analytics. Data is great, but firms are likely to struggle with their data implementation without the right team in place to monitor and implement that data in a meaningful way. This is also a way to level the playing field for smaller to mid-sized firms, as deploying the right team creates a more agile approach and can give you the advantage when bidding for work.

To learn more about planning for success, listen to our full podcast episode with Adam Denno, Yielding Positive Results in the Industry Through Qualitative and Quantitative data.

Please like, share, and subscribe to this podcast! Links: Connect with Adam on LinkedIn View Willis’s website at Willis Towers Watson Connect with Mike Diercksen

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Podcast: The Building BITE Episode: Infrastructure, How to Plan for Success

Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. The Building BITE hosts Valerie Bono and Mike Diercksen, CRIS, welcome David Farino, CPCU, ARM, and AVP of NFP’s Construction Brokerage Group.

David begins by sharing his journey beginning with his background. His background started in banking and eventually led him to underwriting where he now serves as a leader of the construction group of NFP. David has leaned on previous experience, which is paying dividends for his Insureds as he has been able to guide them through the ins and outs of bidding on civil work. As the son of a of a Service-Disabled Veteran, David takes tremendous pride in helping small minority-owned businesses earn these civil contracts.

Diving into the topic at hand, David proceeds to lay out his take on infrastructure projects and how to best prepare for them. 1. Not All Opportunity is Good Opportunity: David emphasizes the importance of looking at each opportunity individually and making sure you take the time to manage these situations effectively. Being more selective and really finding ideal partnerships and opportunities will allow for sustained and scalable growth. 2. Be Proactive: Rather than reacting to the situations at hand, begin to look ahead and develop a plan for identifying what work fits their skill set the best. Insureds are better positioned to stay within their wheelhouse and find success by creating a plan and sticking to it. 3. Take Time to Assess Your Capabilities: You must look within to see if your organization is prepared to meet the Owners’ expectations and drive value upstream. Asking questions such as, “Do we have the controls in place to meet our contractual obligations”? Or, “Is our current subcontractor pool deep enough to fulfill these needs?” Finding the right partnerships can help to alleviate some of these concerns and provide valuable experience for Insureds as they continue to grow.

To learn more about planning for success, listen to our full podcast episode with David Farino, Infrastructure, How to Plan for Success.

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Podcast: The Building BITE Episode: Fact or Fiction, Supply Chain Disruption is a Covid Problem

Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. The Building BITE hosts Valerie Bono and Mike Diercksen, CRIS, welcome Cheri Hanes, AVP, Risk Engineering Team Leader for AXA XL.

We open the show by welcoming back our first repeat guest in the newly appointed Risk Engineering Team Leader for AXA XL, Cheri Hanes. After connecting with Cheri on her new appointment and responsibilities, we revisit her background, where we learn about her operations experience and her passion for subcontractor default work. For a deeper dive into Cheri and her background, please visit Season 1, 5 Considerations for Mass Timber Construction with Cheri Hanes.

Diving into the topic at hand, Cheri proceeds to share her take on whether or not supply chain disruption is in fact strictly a covid problem, and some tips on how to prepare for supply chain issues. 1. Take charge of the big picture: The number one piece of advice is to put someone or a team in charge so that they can get their arms around the big picture. This will allow for the team to strive towards continuous improvement and adaptation where necessary. 2. Stay in your sweet spot: If Builders make an effort to do work that is within their “sweet spots” for owners who are collaborative and reasonable, they have a better chance of being successful. 3. Don’t be too quick to default or terminate: Really think strategically about what that will do to your situation. These issues are complex, and you may run around in circles looking for an alternative supplier. To learn more about these observations with an industry expert, listen to our full podcast episode with Cheri Hanes, Fact or Fiction: Supply Chain Disruption is a Covid Problem.

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Podcast: The Building BITE Episode: Sustainability, and 3 ways Sustainability is Building Momentum in the Construction Industry

Please tune in to this episode of The Building BITE Podcast as we hear from industry experts about key topics to help you be successful. The Building BITE hosts Chris Epps, PSP, LEED AP, and Mike Diercksen, CRIS, welcome Patrick McBride, Head of Construction Property at Zurich North America along with David Edsey, Climate Director, and VP with Zurich North America.

We open the show with David and Patrick giving us an overview of their careers before jumping right into our content-rich episode with these two experts.

Throughout our conversation, Patrick and David lay out their take on the state of the market as the momentum continues to build. Some key takeaways:

Driving Forces: A key factor when discussing the driving change for sustainability in the construction industry comes from the bottom line. It is becoming more common to see contractual obligations introduced on projects, with contractors being told they must commit to specific metrics to build for that owner/company.
Regulation and Public Opinion: Another critical element to the push for sustainability comes from what many view as the consumer’s growing preference for green companies, and future legislation that would penalize companies for not building sustainably. This has a trickledown effect as many corporate customers are mandated to implement these strategies in their supply chain regardless of whether they are publicly or privately held.
Alternative Resources becoming more available: With case studies suggesting that 50% of emissions come from embodied carbon associated with construction, new materials and methods are becoming more popular, more available and more cost efficient. Whole-building Designs such as Mass Timber structures are entering the market at an elevated rate, along with alternative materials in cement, such as fly ash and slag, which can significantly reduce the embodied carbon content of concrete.

To learn more about these topics through the lens of our experts, listen to our full podcast episode with Patrick McBride and David Edsey, “Sustainability, and 3 ways Sustainability is Building Momentum in the Construction Industry.”

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Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. The Building BITE hosts Valerie Bono and Mike Diercksen, CRIS, welcome Jessica Hill, Vice President and Head of Core Construction at CNA Insurance.

Jessica opens the show by sharing her career journey, where she started as an Underwriter and then became Construction Casualty National Practice Lead with Zurich. Next, she joined CNA as the Head of Construction Liability, which led her to her current role as the Head of Core Construction. This episode highlights business resiliency and tackles what steps businesses can take to achieve it. Jessica shares real examples that are pertinent across the industry, including catastrophic weather and the unique disruptions that result from its impact, skilled labor shortage, and supply chain disruptions. With the industry adapting to enhance its business resiliency, Jessica shares that she believes better communication between Insureds and Carriers will drive success with contingency and risk mitigation practices.

Jessica leaves us with three takeaways regarding business resiliency. Those are: 1. Work to understand the changing risk landscape 2. Advance your internal resilience capabilities; things can always be better! 3. And Implement strategic Insurance coverages to help offset those risks and challenges, both seen and unseen.

Throughout this conversation Jessica reminds us it is never a bad idea for listeners looking to build business resiliency today or tomorrow to scrutinize and review your risk management strategy. It’s more important than ever to review your strategy and make sure there are no oversights regarding recent developments.

To learn more about business resiliency and tactics to achieve it, listen to our full podcast episode with Jessica Hill.

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Rachel Walsh, Regional Vice President of Northeast Claims for Liberty Mutual, graduated from Law School and worked primarily as a surety and construction lawyer in private practice. Fast forward, she would go on to join Liberty Mutual, where she part of the team that stood up the SDI product when Liberty Mutual decided to start a new product line.

Kristen Weber, Underwriting Officer for SDI, shares her background, having worked for several of ENR's top contractors. She started in risk management, continuing to grow within coverage, claims avoidance, management, contracts, and risk transfer. Kristen shares how she was drawn to the insurance side of the business when she knew she could offer a different perspective, providing empathy for what insureds may face.

In this episode, listeners get an inside look at potential challenges that often result in missed opportunities within the SDI space. First, Kristen shares challenges of what a team can face amid a crisis in groupthink. Then, she offers solutions to avoid groupthink and how listeners can better position themselves if faced with that situation.

Rachel shares the importance of communication and coordination when dealing with a potential claim. It's essential to ensure familiarity and compliance with all contracts that govern the parties' relationship. These include the governing SDI policy and the subcontract covered by that policy. And it's best if there's some level of familiarity before a claim arises. Finally, Rachel rounds out the discussion around the issue of subrogation and that it should be front of mind to avoid having actions impair your SDI Carrier's rights to recover losses from the at-fault party.

In addition to addressing other Common challenges and missed opportunities within SDI, they leave are audience with the following three takeaways:

Be objective when you assess the situation and the possible paths to resolution.
Identify your resources and do not hesitate to engage those resources, both internal and external.
Think about the long-term consequences of your actions as you handle a default—and as you formulate a plan, be ready to pivot where necessary.

To hear more challenges and missed opportunities within SDI, tune in to this episode!

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Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. The Building BITE hosts Chris Epps, PSP, LEED AP and Mike Diercksen, CRIS, welcome Paul Holley, Professor within the McWhorter School of Building Science at Auburn University.

Paul begins the episode by sharing his background as an Auburn Undergrad and then working as a project Superintendent for Robins and Morton, one of ENR’s top general contractors. After that, he became a Division Manager at BL Harbert International and continued his education at Auburn and Harvard. Paul describes stumbling back to teaching after a former professor reached out to him. Twenty years later, he is still there.

Paul then takes our listeners into the main topic of solving industry imperatives in higher education. He shares the Innovation Center’s first project nearly 15 years ago and how students and industry partners worked together to identify problems – or as he describes - industry imperatives. These are thought leaders in academia who are problem seekers. These collaborative minds work together to develop solutions. Finally, listeners get an inside peek at some of the current imperatives, including using technology on the job sites and how they are working to address the skilled labor shortage.

For an industry that is often slow to change or adapt to technology, Paul shares his three takeaways for those in construction, which include: 1. It is a roller-coaster. Easy to get passed by if you are not going to innovate: Change in the construction and academia world is happening at an increasing rate – it’s easy to be passed by if you are not innovative. 2. Working with academic partners has significant benefits – you get student and faculty perspectives. These are often fresh ideas that can impact change. 3. If you want to work with an academic partner – you have to be patient. Academia runs on a different calendar. Can provide excellent and innovative solutions but require a longer timeline and willingness to partner long term.

To learn more about how Auburn University is solving industry imperatives, tune in to his podcast episode!

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Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. The Building BITE hosts Valerie Bono and Mike Diercksen, CRIS, welcome Hamzah Shanbari, Director of Innovation at The Haskell Company.

Hamzah opens the show by sharing his background, having attended the University of Florida with their VDC group. One of the first courses that led him to Construction was Building Information Systems. Hamzah was intrigued by this course in that it was centered around the concept of innovation, enhancing efficiencies while also increasing safety. This interest stuck with him, even throughout his Ph.D. dissertation where he looked to improve the education aspect using technology. He designed/created a video game that simulates a construction project that taught students construction management skills.

In his episode, Hamzah shares more about Haskell’s Innovation program centered around its people – Dysruptek. Dysruptek is Haskell’s venture arm dedicated to scouting, piloting, and investing in emerging technologies, as well as capitalizing on the innovations born within its diverse employee base. Our listeners get an inside look at some of their current endeavors, including pipe welding, testing piping within buildings, and how they are tackling solutions to existing problems while getting out of the mindset of “we have always done it this way.”

Hamzah leaves are audience with three takeaways which include: 1. Innovation is a mindset: Just because you are using technology or tools, it’s a constant mindset and continuous cycle of always trying to be better while being more efficient. Similarly, Hamzah recommends always trying to be safer and deliver a higher quality product. 2. Technology is not the overall solution: Sometimes, it’s not technology; it’s the workflow and process. It’s looking at how we get from point A to B and finding solutions to recalculate the process. 3. Capability Trap – After you get through the first two takeaways, many people fall into the capability trap – which is when you introduce new technology or workflows, productivity will dip and go down. It takes time to work through it efficiently – which circles back to innovation is a mindset.

To learn more about Haskell and their technology adoption, tune in to Hamzah’s episode on Driving the Construction Industry Forward through Innovation and Technology.

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Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. The Building BITE hosts Chris Epps, LEED AP and Mike Diercksen, CRIS, welcome Chief Economist for the Associated General Contractors of America (AGC), Ken Simonson.

Throughout the episode, Ken dives into AGC’s latest U.S. Construction Outlook and addresses hot topics in today’s climate, including the labor force, supply chain issues, and materials. Ken dives into several compelling statistics throughout the episode, including what GCs can do to help find and retain talent when bid prices are still lagging input costs by almost 20% (17.5) on the Producer Price Index. Another segment addresses Federal work increasing by 37% due to the new Infrastructure Bill, and an industry outlook as a result.

Ken leaves us with three takeaways stemming from his report. 1. If you’re optimistic, you’re in the right frame of mind. It appears there will be quite a pickup in non-residential construction work and continuing activity on multifamily. 2. Expect a lot of volatility in prices. With that, it’s essential to be nimble about when to buy and how to bid. 3. Be prepared for a long-term scramble to find workers you need to retain and the ones you want. Retaining and attracting top talent is undoubtedly a big takeaway.

Ken leaves our listeners with his recommended action item, to invest in making your workforce nimbler and more aware of doing the job. It starts with the CEO ensuring that the workforce is more aware of other ways of doing business, being safer, and helping workers feel most comfortable and enthusiastic about doing their job in the first place.

To learn more about Ken’s latest construction report, listen to our full podcast episode with Ken Simonson.

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Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. The Building BITE hosts Valerie Bono and Mike Diercksen, CRIS, welcome Inga Mackereth, CPA, Corporate Insurance Manager at Hourigan Construction.

Inga opens the show sharing her background in accounting and passion for taxes. Inga, a boomerang employee, joined Hourigan as a Project Administration, then left to join a small CPA firm. She returned to Hourigan, where she now leads as their Corporate Insurance Manager. She shares her role and Hourigan’s approach to the current market environment, including their holistic approach to preconstruction, material tracking program through construction, and their educating of Owners to understand how the state of the market may impact schedules.

At Hourigan, the team is a valued partner and trusted adviser to their Owners. They offer their Owners solutions so that they do not just weather the storm of supply chain disruptions but emerge better positioned. Inga shares her three lessons learned from the current state of the market, which includes: 1. Plan, Plan, Plan: No matter how many times we try, it is impossible to predict the future. Understanding your internal process and project goals thoroughly helps to streamline success and reduce miscommunication. When the challenges are understood, project teams are empowered to identify and remedy these issues with speed and precision. 2. Be Forward Thinking: Success is a mindset. A suggested method to reach that mindset is to challenge ourselves constantly to think critically and understand what challenges lie ahead. Inga states that “We always need to have someone in steps 5-10, and not just 1, 2,3. That way, when we look ahead and plan forward, we can try to eliminate those instances that happen that throw the project for a loop.” 3. Be a Leader and a Team Player: By enlisting the help of all parties involved, Inga shares how miscommunication can be avoided and ensure that proper expectations are set for both the project team and the owners.

To learn more about these predictions through the lens of our expert, listen to our full podcast episode with Inga Mackereth, Navigating the Current Landscape of Supply Chain Disruption Through the Lens of a Corporate Insurance Manager.

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Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. The Building BITE hosts Valerie Bono and Mike Diercksen, CRIS, welcome Tricia Kagerer, CPCU, CSP, ARM, CRIS, EVP of Risk Management for Jordan Foster Construction.

In this episode, Tricia discusses the importance of communication. Communication is paramount for one’s overall success. TEDx Speaker and author of The B Words: 13 Words Every Woman Must Navigate for Success, Tricia shares how effective communication helped her advance from Jobsite Risk Mitigation to representing the 1% of women in the C-Suite for the construction industry. Listen, as Tricia takes us through her journey, beginning with her initial passion for jobsite safety.

Tricia leaves us with three takeaways regarding career advancement, explicitly targeting females who wish to defeat the odds and navigate the C-Suite one day: 1. Check Your Limiting Beliefs: One of the most significant barriers to female leadership is Limiting Beliefs – the voice in our head telling us what we can and cannot accomplish. Keep an open dialogue with yourself to continually check on your internal voice as it might be presenting you with a false narrative. 2. Respect Everyone’s Journey: It’s important to avoid creating an echo-chamber where all voices and views are the same. As an expert commentator for IRMI, she’s written about this concept in “Breaking the Bro Code”. Respecting the differences between you and those who surround you will foster an environment of opportunity 3. Give People Opportunities to Tell Their Stories – Meaningful connections are maximized by respecting everyone’s journey. By allowing others to tell their stories and respecting the differences of their journey, your Limiting Belief will diminish. Keep an open dialogue with yourself and others as it is a crucial component to personal and professional progression.

To learn more about the importance of communication and how it can help you in your career path, listen to our full podcast episode with Tricia Kagerer, The Importance of Communication; From Jobsite Risk Mitigation to Navigating the C-Suite as a Woman.

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The Building BITE hosts Valerie Bono and Mike Diercksen, CRIS, welcome Jake Concannon, Vice President of Gallagher’s Construction Practice.

Jake opens the show sharing his journey growing up in the Bay Area in California and attended the University of Arizona – where he studied Political Science and played Rugby. He joined Gallagher in 2005 as an intern and was offered a full-time position and has remained with them ever since. He purposely rotated through all departments early on in his tenure, working various construction risk and insurance programs like Wrap-Ups, Sub Default Insurance, Surety Bonds, Builders Risk, Captives, Professional, Pollution, etc. This exposure laid the foundation for advising Builders on risk management strategies, where he now works directly with Owners, GCs, and trade contractors.

Diving into the topic at hand, Jake proceeds to share his 3 Bold Predictions for the future of the Construction Industry. They are:

Talent & Culture: With the changing landscape of the talent pool, finding, retaining, developing talent, and creating a culture where everyone on the ship is rowing in the same direction will separate the best from the others. According to Jake, people are the company’s number 1 asset and most significant risk.

Information and Tech to become a key voice within the C-Suite: There are strategic opportunities to capture data and use it advantageously. Some tech is worth a more significant investment than others. Experts with this mindset can bring this knowledge to the C-Suite. This ties back to prediction 1: Companies that invest in the right people will be the most competitive in technology. Likewise, good Tech is needed to attract and retain talent.

Opportunities within Mass Timber: According to a recent study, there are 400 Mass Timber buildings in design or construction in the United States today. In 2026, it’s expected to be 4,000, and in 2030, 10,000. Mass Timber is faster to construct with, renewable, and fire-resistant, making it attractive to utilize. However, a considerable gap remains between supplying, building, and insuring mass timber. That must change in order to see these projections become reality.

To learn more about these predictions through the lens of our expert, listen to our full podcast episode with Jake Concannon, 3 Bold Predictions for the future of the Construction Industry.

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Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. This episode hosts Valerie Bono and Chris Epps, PSP, LEED AP, welcome guests Kenneth “Ken” Henry, Senior Vice President of Development for PMB LLC, and Eli Dresner, Managing Director of Client Solutions for Pivotal.

Ken and Eli share the partnership between PMB, a national leader in healthcare development, and Pivotal, who is partnering with PMB to transform healthcare claims data into meaningful, profitable insights. In fact, Pivotal utilizes a web-based platform that features claims-based data for over 300 million covered lives across all care settings.

Eli provides insights into using their platform and entry points, exploring traditional data points, where he believes the market is going post-covid and social determinants of health.

Hear the success PMB and Pivotal share with one of their clients and how they have benefited from the partnership. With healthcare being a specialized industry, they share three takeaways for listeners who support the industry, which include: 1. When working in healthcare, they suggest being healthcare experts 1st – then real estate second. 2. Make decisions while balancing qualitative vs. quantitative data 3. Utilize your network and partnerships – doing so can help you make better decisions across the board.

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Cheri leads off the show by sharing the inherent differences between Wood Frame and Mass Timber, highlighting the nuances of insuring one versus the other. There is a lot of data on light wood frames, but mass timber is still relatively new, which leaves questions around the unknowns. If data is absent, insurers tend to default conservative.

Cheri continues by sharing insights surrounding markets currently using mass timber and which sub-contractors are installing it. She then lays out several common risks for mass timber and how to manage them best. Finally, Cheri identifies the following five considerations: 1. Understand who you're working with and their level of experience. Choose to do business with those with as much experience as possible. 2. Be strategic with the placement strategy and use manufacturers' and consultant's expertise. 3. Water – Put the right strategies in place to robustly manage water. 4. Materials/supply chain – Understand and set up comms and tracking for the whole production and transportation network and then implement 5. Fire – Lower risk than light wood frame, doesn't mean all the same strategies shouldn't be used.

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Jim opens the show by sharing his career journey and then quickly dives into addressing how Alliant utilizes industry data, the current landscape, and how it’s impacting the market as a whole. Next, he shares Aliant’s C2M model looking at ten criteria through the lens of surety underwriters. The model starts with quality financial reporting and then turns towards liquidity. It considers several factors, including historical revenue, equity, and borrowing capacity, to name a few.

Later in the show, we gain three insights into successfully utilizing data when it comes to Subcontractor Default Insurance: • Garbage in Creates Garbage Out Not all data is created equal. While data is immense, it’s not always useful or understood. • Understand What You are Looking At By getting a 360-point view of the data you want to know, the more valuable the information will be as the chances for missing components and loopholes will be reduced. • Know What to Look For You will have an easier time understanding data if you know what to look for. He continues by sharing insights with new standards for financial reporting.

Tune in for industry trends, including those surrounding SDI, labor shortages, and current-day Covid impacts.

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Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. In this episode, hosts Valerie Bono and Peter Duggan welcome Karen Rice, Vice President, Head of Construction Claims North America at AXA XL.

As a national leader who oversees many lines of coverage, Karen Rice shares her career journey to where she is today. Karen’s passion for coverage and desire to manage people manifested early in her career. Combining those desired and technical expertise, she demystifies what she perceives to be the unique differences between being a manager vs. supervisor and even as an overall leader.

As head of construction claims for one of the largest carriers worldwide, Karen shares what a day in life looks like in her shoes. When she first joined AXA, the construction business was starting. She ensures a cohesive approach to ensure consistent customer comprehension and treatment through all of the lines of coverage that she leads.

Listener’s gain three career tips that helped Karen advance from a coverage expert to a construction claims leader of North America: 1. Provide and Seek Honest Feedback 2. Surround Yourself with Smart People 3. Keep Learning and Enjoy Yourself While Doing So

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Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. In this episode, hosts Chris Epps and Mike Diercksen, CRIS, welcome Justin Reginato, PH.D. Associate Vice President Facilities Management at California State University, Sacramento.

The show dives into how Justin and Sacramento State are utilizing BIM and construction technology to drive success, leading to new opportunities for the University. He shares nuances to building in Higher Ed such as the importance of setting a budget and guarding it closely until substantial completion. After that, the remaining budget can be used for wish-list items to maximize the impact of the facility for staff and students. Justin explains why It’s also important to be collaborative and work with teams that connect across the board from design, between faculty, project teams and even student bodies.

Justin continues by sharing his three takeaways in achieving success working in and around Higher Ed: 1. You must hire great Design Build Teams, with a focus on collaboration 2. Ruthlessly prioritize project Needs and Wants (In that order) 3. Be conservative with protecting the budget, especially the contingency until we know we are in the clear

He encourages Facility Managers to talk to end users, custodians and maintenance staff early on in pre-design and share anecdotes to support that action item.

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Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. In this episode, hosts Valerie Bono and Mike Diercksen, CRIS, welcome Alexis McGuffin, Director of Business Development at Suffolk Construction.

Few people share Alexis' wholistic construction background. She's worn many [hard]hats - having been an estimator, project manager, then pivoting to BIM Integration, where she grew to lead as VDC Director. Today, Alexis serves as Suffolk's Director of Business Development. An impressive career for anyone, and even more extraordinary given recent statistics reported by The Construction Dive, showing women still make up only about 10% of the construction workforce – from field to office. So, perhaps it is no coincidence that she has landed her career where their tagline is: Prove impossible wrong.

Suffolk is no stranger to shaking things up, serving as an industry disruptor. Alexis gives an inside look into the exciting initiatives they are taking on as a firm, including their BOOST Program. Suffolk Technologies invests in and partners with early- and growth-stage startups transforming the built world. In addition, they support these visionary founders by leveraging their internal expertise and network to accelerate industry-wide adoption of breakthrough innovations.

Alexis continues by sharing her three takeaways that will help solve puzzles in the built environment: 1. Innovate Around Contracts, Liabilities, Model-Sharing and Sharing Digital Assets 2. Work Together Towards Industry Standards 3. Innovation Needs to be Continual, not Occasional

Tune in for more on the exciting initiatives Alexis is working on at Suffolk and hear her stance on mentorship and lessons learned throughout her journey.

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Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. In this episode, hosts Peter Duggan and Mike Diercksen, CRIS, welcome Derek Fennell, Assistant Vice President of Subcontractor Default Insurance Claims at AXA XL. Derek shares insights around four steps that help lead Carriers and Insureds to a better way of handling claims.

Derek dives quickly into his first step towards a better way which is #1 - Communicate Early. Communication, person to person, is necessary to avoid what he terms as the RFI loop.

Next, Derek emphasizes the importance to #2 – Create an Atmosphere of Trust. He explains that it is difficult to collaborate if / when everyone retreats to their corners, making it difficult to resolve issues. Issues are less likely to be resolved when the Insured does not trust their Carrier.

Once Communication and Trust is established, Derek says it’s important to #3 – Educate the Insured. The reality is that risk managers do not see SDI claims daily. Derek suggests that the Carrier should "take the analytics developed during claims and give the feedback to the Insured in ways that make the Risk Managers understand risk more."

Derek’s last step is #4 – Rip the Band-Aid Off. By informing the Carrier of any significant project nuances early on, all parties involved have more time to process and prepare for the claim. He describes this as giving "the message very early so the project team is prepared and the risk management team is prepared, which will often lead to a better result."

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Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. In this episode, hosts Peter Duggan and Mike Diercksen, CRIS, welcome Jim Richert, AVP, SDI Risk Engineering Leader at AXA XL. Jim provides our listeners with a brief history of what led him to where he is today, including how the risk engineering role came to AXA XL. Jim was once a team of one and now leads a team of 10!

Jim shares what he believes are the key steps to develop and sustain a team of subject matter experts who prioritize customers as well as their own personal and professional well-being: These include: 1. Create a Strong Vision 2. Look for Team Growth Opportunities 3. Constantly Engage with Your Team

Jim leaves our listeners with several trends that he is seeing. He’s spent much of this past year discussing the concept of managing the unknowns with partners. Often, trends are hard to spot – and by the time they are identified – reactions are likely too late. His conversations have focused around doubling down and making adjustments on strong practices that contractors are taking to stay ahead of risks which include:

• Revisiting project Go/No go type decisions • Contract language review • Prequal and sub selection practices • Schedule management • Supply chain and escalation risks

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Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. In this episode, hosts Peter Duggan and Mike Diercksen, CRIS, welcome Nils Sorenson, Innovative Insurance and Risk Management Customer Advocate at Gallagher. Nils sets the stage for his podcast, explaining what SDI is and why it was created in the first place. He elaborates on what he believes is the most significant barrier for General Contractors looking to shift from Bonding to SDI.

Throughout the show, Nils breaks down the evolution of SDI into three periods: 1. Early Creation 2. Product Evolution 3. Current Time Period

Nils outlines the influence of Zurich Insurance Group and their Subguard product, first introduced in 1995, which has led the way to what we now know as SDI. Nils thoroughly walks us through the evolution of SDI and how the market has grown from a lone policy to a market that now features 7 Carriers. Nils provides excellent insight into the industry’s evolution when he breaks down the specific changes in the market as more General Contractors are gravitating to the SDI space. One significant change was “an increase in due diligence that was happening with the loss control group” as more GCs bought coverage. He ends the journey elaborating on the current landscape with seven Carriers, their differences and offers additional market insights.

Nils shares direct insights on how Brokers factor into the overall equation as they are the key to the network of distribution. Brokers bring unique experience and expertise while acting as an excellent resource for knowledge sharing and information to Insureds.

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Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. In this episode, hosts Peter Duggan and Mike Diercksen, CRIS, welcome River Steenson, CRIS - Senior Construction Risk Engineer at AXA XL, in this episode. River opens up the show taking us on his career journey where he spent 15 years as a Project Manager with both heavy civil and commercial building experience. In his last five years, he’s worked at AXA XL as a Senior Risk Engineer – doubling as a perceived customer advocate.

Listeners receive expert advice on achieving a positive claim experience by starting with the end in mind. River shares that from a partner’s perspective, that typically is associated with rapid payment. To achieve rapid payment, it’s crucial to identify nuances of the claim and any pinch points to layout the ultimate road map to success. Communication early and often is key.

He continues by sharing common pinch points that are seen during the claim process.

River provides four steps to achieving positive customer claim experiences: 1. Start the Insured/Carrier Collaboration as Soon as Possible 2. The Carrier Should Provide Coaching and Feedback Throughout the Claims Process 3. Maintain Continuous Dialogue Start to Finish – Nothing Should be Done in a Vacuum 4. Get the Claim to the Finish Line

Tune in to hear the details of each of these four steps and hear real examples on key points including, creating a win-win-win, when coaching may have made a difference and benefits of avoiding snags in communications.

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Tune in to The Building BITE Podcast as we hear from industry experts about key topics to help you be successful. In this episode, hosts Valerie Bono and Peter Duggan welcome Heather O'Neill, CRIS, AVP of Construction Specialty Products for Arch Insurance Group. Heather shares her journey growing into a leadership role as a female in the insurance industry. A graduate of Texas Christian University, Heather holds a Bachelor of Arts Degree in History with a minor in English. Leveraging her liberal arts background, Heather discovered a passion in the insurance space – where she can assimilate different information to understand the nuances of complex risk.

Heather has held various positions across the industry, beginning her career in construction insurance at American Contractors Insurance Group (ACIG). She then transitioned to the broker side as an Account Executive at Roach Howard Smith & Barton (RHSB) and then spent nearly six years as a Senior Underwriter for Subcontractor Default Insurance at AXA XL.

Heather most recently took on an active leadership role as AVP at Arch Insurance Group within the Construction Specialty team, focused on Subcontractor Default Insurance. In this role, she has the unique opportunity to work within an incredible team of four female underwriters – which is notable since women in the insurance and construction industry continue to be underrepresented.

Through the art of storytelling, Heather shares those most influential throughout her career, including those she works closely with at Arch. She continues by sharing the ultimate personal responsibility mantra, inspired by her grandfather, "No one can make you think, act, feel or believe in any way you don't want to. Heather’s three takeaways include for listeners looking to find their leadership growth: • Find trusted mentors: Find mentors who will give you open and honest feedback while having a vested interest in you and your development. • Don't be afraid to take risk: When taken with purpose, fear of failure dissipates, and opportunities to learn emerge. • Find your balance: Find the balance between working hard and seeking opportunities to promote / advocate for yourself.

As an action item, Heather encourages listeners to find a trusted advisor and ask for feedback. It's essential to have a safe space to receive positive and constructive feedback which provides continued opportunities for improvement.

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Tune in to The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. In this episode, hosts Chris Epps and Mike Diercksen welcome Dr. Nathan Blinn, VP of Construction & Strategic Innovation at Eagle Construction of VA. Nathan shares his expertise on how BIM can drive a company's overall success.

Earning both his master's and Ph.D. from the University of Florida (UF), Nathan begins the podcast sharing his journey in the BIM space. He shares his time at UF and elaborates on his dissertation during his doctoral program, where he studied Construction Management, Virtual Design & Construction, and Building Information Modeling.

Leading in the use of advanced technologies for residential builder, Eagle Construction of VA, Nathan shares the exciting elements to working on BIM in the residential space compared to commercial construction. Residential BIM application includes quick life-cycle projects with the opportunity to build projects from the ground up.

On today's topic, Nathan provides excellent insights into the realm of building technology and gives us three takeaways that will help companies drive success through the utilization of BIM: 1. View BIM Management as a Multiplier, Not An Expense 2. Don't do BIM in a Bubble 3. And, Don't Overlook the "I" in BIM

Providing examples, he shares how Eagle is utilizing BIM to streamline its process and drive value in the project. Additionally, he speaks to how the firm uses data to drive decisions across all facets of the business – from land acquisition to warranty – and how these strategies are implemented across their portfolio.

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On this episode, we spotlight Jeff Nolan, Risk Engineer at Cove Programs. Jeff shares four opportunities to improving prequalification and subcontractor selection processes for contractors to maximize success on a project. By (1) avoiding silos while doing prequalification, (2) developing a consistent risk mitigation plan, (3) consistently applying the developed processes, and (4) capturing the lessons learned, GC's are better positioned to see improvement in their risk management strategy and claims process.

Growing up in California, Jeff shares his career journey after graduating from the University of California, Davis. From Bechtel to Zurich and now Cove, Jeff has worked globally in Dubai, The United Arab Emirates, London, and Germany.

Leveraging his global expertise, Jeff shares his view of the main differences between SDI and surety bonds. He then provides listeners with four steps to improving a contractor's prequalification and subcontractor selection process. These include:

1.Don't do Prequal in a Silo or Vacuum 2.Develop a Risk Mitigation Process 3.Consistently Apply the Developed Processes 4.Capture the Lessons Learned

Tune in to learn more about these four steps and how they can benefit project teams today.

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Tune in as we spotlight Rose Hall, Vice President and Head of Construction Innovation at AXA XL. Learn about Rose's unique grassroots, boots-on-the-ground background from an educational and professional standpoint. She's worked on risk management for Turner Construction and provided consulting and expert witness work before joining AXA XL. She utilizes this holistic skillset in her new role – baking in innovation and technology. Through technology, Rose is advancing the industry in taking on risks while also protecting workers.

According to a McKinsey report, productivity in construction has only gone up 1% that in the last 20 years. Why is that? Rose explains, "The modernization of construction really hasn't kept up with the modernization of the world."

Rose advises that the next frontier of risk management and profitability optimization in the construction industry is technology. She further explores how AXA XL executes technological innovation through the implementation of the Construction Ecosystem. The award-winning Construction Ecosystem is a digital network of innovative products and services focused on advancing technology adoption and leveraging data to solve customers’ problems, enhance their risk management efforts and support their business goals. Tune in to hear to learn more on what the ecosystem involves, who it impacts and how it’s transforming the industry.

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Tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. In this episode, Peter Duggan and Mike Diercksen welcome William (Bill) Lane, Risk Manager at the Hudson Insurance Group. Bill takes us on his career journey from his experience developing first-hand knowledge working for one of ENRs top General Contractors to where he is today.

Throughout the episode, Bill breaks down what SDI is. He shares that he understands a thing or two because he has seen a thing or two from the amount of prequal files he has reviewed. Bill continues by demystifying what is in a typical prequal file.

Bill offers his perspective on why a contractor must have an effective prequalification process in place. If not, contractors can lose millions of dollars if a subcontractor defaults on a large construction project.

To improve a subcontractor’s prequalification process, Bill expands on the benefits that can be achieved if contractors: • Implement a Financial and Operational Assessment • Add Prequalification Data into the Bid-Leveling Form • And Use Technology as a Tool, Not a Solution

If you are a contractor, make sure to efficiently go through your prequalification process, as it could save you millions down the road. By assessing a subcontractor’s financial and operational capacity and including them on the Bid-Leveling Sheet, you are bound to see an improvement in your prequal process.

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In this episode, we spotlight Kristen Hoskinson, Vice-President and leader of the Master Builders Risk Business at AXA XL. Kristen takes us on her career journey on where she started, and how she got to where she is today.

According to a recent study published by McKinsey, despite women making up 56% of entry-level positions in the financial/insurance sector, only 30% of the vice-presidents and 18% of the C-suite are female.

By following these three life-learned lessons, Kristen was able to claim her space at the table and obtain the respected position she is in today: 1. Be intelligent, not just smart. Be beautiful, not just pretty. Be bold, not just strong. Be compassionate, not just kind. 2. Teach somebody something. Learn something. And make someone’s day brighter. 3. Happiness is a journey, not a destination.

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On this episode, Jason Lamonica, Senior Vice-President and Profit Center Leader of Subcontractor Default Insurance at AXA XL walks us through the history of SDI and shares (5) Key things that Contractors should look out for to mitigate risk. Jason comments on five tenets across SDI and the importance of: 1. GCs picking the right projects during the pursuit process 2. The importance of continuous qualification rather than just prequalification 3. The importance of paying attention to overall quality on job sites

He continues into (4) schedule and shares that delays are one of the hardest things to quantify when it comes to a default on any contractual claim. It's essential to update schedules regularly. Lastly, he dives into (5) "contractual wording" and the importance of knowing your contracts, understanding what you're getting involved with, and understanding your responsibility. The show takes a bite out of the buzzword force majeur.

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On this episode, Peter Kapler, Senior Vice-President and National Director of Performance Security for AON describes the evolution of the Risk Management role and shares tips on how to optimize a contractor’s risk management function. Those tips include:

Breaking Down Silos
Leveraging Data
Empowering Your Risk Management Team

Peter discusses the importance of breaking down silos between operations, finance, and risk management, then integrating data across all functions. Peter rounds out the conversation by describing the value of empowering risk management to influence the entire organization. Peter explains if there is buy-in at the C-suite / C-level, then the entire organization can benefit from the wealth of knowledge risk managers possess about the marketplace and the organization.

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On this episode, we spotlight Gary Kaplan, President of Construction at AXA XL, the leading Carrier in the SDI marketplace. Thinking about building your own business from scratch? Look no further than today’s episode as Gary demystifies what has led him to his personal and professional success - and - leadership legacy. Gary shares insights on how he helped grow AXA XL essentially from scratch into the 100-person team it is today – achieving an unprecedented 40% YOY growth.

In an industry centered around risk, Gary shares that the more risk you take professionally, the more success you may have in your career.

Additional recommendations to anyone looking to build a successful insurance business include: - The first step to building a business is setting the vision - The importance of assembling the highest caliber of people - Do business with the right people - Remember, it’s all about relationships

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On this episode the show spotlight’s Geoff Delisio, Senior Vice-President at Berkshire Hathaway, Specialty Insurance, where he focuses on underwriting, surety and subcontractor default insurance. Geoff shares tips woven into the art of underwriting which include: a. Ask a lot of questions, and understand the underlying need of the customer b. Avoid groupthink c. Be humble, allow yourself to be wrong, bond with clients over it, and redirect

Through a dynamic analogy, Geoff compares underwriting to snowflakes: Each deal is similar, but pretty unique. He explores the pros and cons with big data and shares BHSI’s experience working on international underwriting and the nuances associated with non-domestic claims and discusses their vast service offerings.

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This episode takes a BITE out of Subcontractor Default Insurance with Jim Budwell, Director of SDI Risk Management at Construction Risk Partners. Jim shares CRP’s 9 Step Process to Managing Subcontractor Default Risk. Steps include: Being Alert for Early Warning Signs, Follow Your T&Cs, Communicate/Escalate Accordingly, Act Promptly and Formally, Determine Whether to Supplement or Terminate, Document Site Conditions Related to the Defaulted Sub, Set Up a Cost Code Specific to the Defaulted Sub, Define Default Resolution/Mitigation Plan and Communication of Default Status with Broker partners and SDI Carriers.

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A Construction Podcast Breaking Down BIM, Insurance and Technology via Experts.

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