Insurance offers great opportunities for purpose-driven young Bermudians to make a positive impact on the world, says young underwriter Yasser Baia.
The 24-year-old former student of The Berkeley Institute believes many have an outdated impression of the industry, as they seek fields perceived as more cutting-edge to make their mark.
In the three-and-a-half years since he joined international insurer Relm, which specialises in insurance solutions for emerging industries, Mr Baia has seen how the industry is not only at the forefront of addressing humanity’s greatest challenges, but also that people from his own “digital native” generation are playing a key role in the industry’s innovation.
“I think insurance is sometimes seen as an old industry,” Mr Baia said. “But in reality, insurance is transformational and relevant in our day-to-day lives, whether it is climate change or technology, the evidence of its importance is only continuing to grow.
“By working in this industry, young people effectively become a part of this change. My sense is that the roadblocks of old are starting to diminish, and young people’s voices are starting to have a greater impact within these organisations.
“And when you do have the ability to contribute on ways to innovate, whether it’s finding efficiencies, whether it’s improving products, that helps you to push yourself and raise your voice. Companies notice it, support it, and the companies will enable it. So, in enabling yourself, you will enable great change.”
On its website, Relm states its purpose as “making innovation resilient”. To live up to that, Mr Baia, as a senior underwriter of digital assets, cyber and professional lines, has to stay abreast of the latest developments in leading-edge industries, something he truly enjoys.
“Working at Relm puts me at the forefront of innovation across different sectors, understanding the way technology touches each of them, getting to sit down with clients, representatives, regulators across the world, to really understand the frameworks that are being developed, along with the technologies themselves.
“That’s one of the most exciting things — just being where the future is, because the future is not tomorrow, it’s today.”
Mr Baia has been based in Relm’s Dubai office for the past eight months. He started out as an underwriting analyst in November 2021 and made the step up to an underwriter a year later.
He speaks with greater maturity and wisdom that one might expect from someone in their mid-20s. His substantial debating experience helped him develop those exceptional communication skills.
“I have to thank Gladstone Thompson, who used to be the principal at Dalton E Tucker. He saw that I was a talkative student, and he figured it might be good to apply those skills. So, I started debating when I was eight years old, up until my last year of high school and was even a part of the Bermuda national debate team as well.
“The ability to articulate yourself — not only to speak but to be understood — is a critical attribute that has helped me both personally and professionally.”
At Berkeley, he was Head Male Student and chief officer of a virtual business run within the school. He also represented Bermuda at the Regional Commonwealth Youth Parliament Summit and at the Global Young Leaders’ Conference and Presidential Inauguration Delegation for Change. Such activities earned him Bermuda’s Outstanding Teen Leadership Award in 2018.
Mr Baia was the recipient of an Association of Bermuda International Companies (ABIC) Education Award, which supported him as he earned a degree in accounting and finance from the University of Kent.
He gained work experience during internships with several international businesses, including Nephila Capital, BF&M and PwC Bermuda, which helped him on his path into the insurance industry, with further assistance from the Bermuda Foundation for Insurance Studies.
“Growing up in Bermuda, you’re surrounded by some of the largest multinational companies in the industry and they back these wonderful programmes that provide opportunities,” Mr Baia said.
“Being able to get involved with ABIC and BFIS really opened my eyes into how impactful insurance is to our small island.”
When he returned home from university, Jane Bielby and Donna Smith at BFIS suggested Mr Baia could be a good fit at Relm, because of his passion for technology and innovation. Their instincts proved correct.
His career has got off to a flying start, despite his young age and limited experience.
“One of the interesting things about being in Bermuda and in this sector, is that the stereotypes, or the barriers to entry of old, almost don’t exist,” Mr Baia said.
“If you show the drive, the dedication, willingness to learn, and willingness to implement what you learn, the playing field effectively becomes evened out, allowing you to establish yourself and to show the value you add.”
He said he’s grateful for the internships, networking event access, educational opportunities and professional guidance afforded to him in Bermuda by many companies and mentors.
In Dubai, Mr Baia appreciates the leadership of Relm’s Middle East and North Africa CEO, Bruno Bertucci.
“He has decades of experience in the insurance industry and has seen it evolve over time,” Mr Baia says. “And yet, he still has this passion like it’s his first day in the office.
“This bright-eyed enthusiasm and to keep coming to work with a mind that’s open and willing to learn, and to push boundaries, that’s something I want to reflect during my own personal growth.”
Mr Baia’s success is a prime example of the success a young man from Bermuda can achieve in the insurance industry. He is happy working in Dubai, which he considers a similar to Bermuda in terms of its vibrancy as an international business centre.
However, working in the desert city has led to him to miss Bermuda rain, something he hopes to experience on his next trip home.
