Interview: Sue Coates, Trident Public Risk Solutions

We are inspired by people who are passionate about insurance, project finance, and technology that solves pressing global challenges. In this interview series, our chief actuary, Sherry Huang, talks with friends of New Energy Risk whose work makes a difference, and whose journeys will inspire you, too.

Sue Coates serves as the President of Trident Public Risk Solutions, member of Paragon Insurance Holdings. During Paragon’s recent ‘Sleep-Out’ event to raise money for homeless shelters for teens, Sue led and joined a large team and supported the cause by example.  Ever since New Energy Risk joined the Paragon group, I heard great things about Sue and her leadership. I had the privilege of speaking to her recently to find out about how she got to where she is today, what she thinks of effective leadership, and what she is looking forward to in 2024.

This interview has been lightly edited for length and clarity.

Please tell us a little about how you got to where you are today.

I started my career with a humble beginning as a representative at an independent insurance agency in personal lines. I quickly found I had a knack for understanding insurance contracts and was good at providing customer service. After a few years, a former colleague of mine recruited me to an MGA with a specialization in public entity insurance solutions, which is how I started in this space. This MGA was later acquired by Trident Public Risk Solutions. Over the last 16 years, I worked my way up from an underwriter to a manager, to an underwriting director, and eventually the President.  Trident was acquired by Paragon in 2020 and we are now part of the Paragon MGA platform.

What are some unique aspects of providing insurance solutions for public entities?

Public entity is a great class of business that requires highly specialized knowledge to serve.  Trident offers a wide range of insurance solutions to municipalities, public water/wastewater treatment utilities, counties, and public schools. As funding for insurance premiums is supported by taxpayers, our accountability standard is steep. We strive to help agents and policyholders manage through an evolving insurance landscape and make sure they have access to appropriate insurance solutions.  Many of us at Trident have developed a personal connection and a deep appreciation for public servants. We are committed to the long-term stability of the program.

What is your leadership style?

I am a people-first leader, or you can say a servant leader.  My goal is to become a resource at every level for all stakeholders in our business.  As a leader, my job is to clear barriers and allow people to expand their intellectual curiosity and fulfill their career aspirations. In my own career, the first transitions to management and leadership were both hard – I had to let go of being the first point of contact and make sure to leave space for people to grow and develop. My clock/horizon is different from my team – I need to look ahead in the future and be attentive to the ‘WHY’ and ‘HOW’ in everything we do.  I make sure my leadership team has complementary skills, so we can benefit from different ways of looking at the business.

Would you tell us about your sleep-out experience with Covenant House supported by Paragon?

I am thankful that Paragon sponsored this event for Covenant House, which is an organization that provides support and shelter for youth homelessness. I am grateful that I was able to share this sleep-out with my colleagues and it is definitely a unique and powerful team-building experience. Some of the personal sharing from people who benefited from Covenant House’s support was very moving, and reminded us all to stay humble of what we have and pay it forward.

What are your goals for the company in 2024?

Create more value for our customers, grow the team to continue to enhance our capabilities and provide high quality solutions.