Kenyon Graduates Find Unexpected Careers in Insurance

By Amelia Yeager ‘20

Larae Schraeder graduated from Kenyon in 1997 with a degree in English and French literature. Twenty-two years later, she’s working at Nationwide Mutual Insurance Company as a Director of Marketing Research. Perhaps surprisingly, her career in insurance has strong connections to her time on the Hill. “There’s no class at Kenyon on insurance. But we use economic trends, we use statistics, sociological and psychological phenomena, we connect those [types of] classes to an industry that people really depend on,” she said.

Part of Schraeder’s job involves analyzing Nationwide’s 93 years of company history. She explains, “That’s one element of internal research, like what we promised associates in terms of a pension back in 1974, for example. We actually have a history center and a museum. My other research is external: research that other people conducted that Nationwide wants to buy so we don’t have to duplicate it.”

Although Nationwide is a national company with over 30,000 employees, Schraeder works closely with a small team in a way that reflects Kenyon’s academic environment. “Sometimes I get questions from people within the company and I can direct them to each other,” she said. “I feel like in that sense I can make the world a smaller place, a little more like Gambier.” As many Kenyon graduates learn, the insurance industry needs individuals with a variety of skills in order to function. Schraeder contributes the research and writing expertise she developed at Kenyon to help Nationwide make informed decisions about purchasing, advertising, and pricing claims.

The insurance industry is constantly changing, which can be a challenge, Schraeder mentioned. “It’s ever-evolving, and I like that. I think we’re seen as traditional, old-school, but we’re doing all kinds of things that never existed before, like usage-based driving for an Uber driver,” she added. “So I get to learn every day.”

Schraeder plans on staying with Nationwide as they transition to incorporate more big data research. “We’re combining the data that we have with the research we can get our hands on. Those worlds are colliding, and it’s going to be very powerful and helpful,” she said.

Schraeder recently introduced Grant Carr ’19 to Nationwide by aiding him in the recruitment and interview process. “I did an informational day with [Schraeder] in Columbus,” he said, “and then an interview the next week. She was really helpful in connecting me to the work opportunity.” Now, Carr is working as a Senior Analyst in his first of a three-year rotational program. “Right now, I’m in valuation for variable annuities,” he said. “I don’t know what my next rotation will be, but there are so many different categories you can experience. I’m looking forward to whatever’s coming next.”

Carr, a math and economics double major, spent his time at Kenyon investing in the skills that would lead him to Nationwide. In 2017, he enjoyed an internship at Great American Insurance’s predictive analytics department in his native Cincinnati, which exposed him to the insurance field. He also passed exams in probability, financial mathematics, and investments and financial markets as an undergraduate. Most importantly, though, Kenyon prepared Carr to learn on the job. “I learned multiple computer languages and ways of working with data in undergrad, which helps not only quantitatively, but also makes me more ready to pick up new information,” he said.

Carr’s curiosity and talent for learning quickly are helping him overcome challenges every day at Nationwide. “There are probably at least five or six different guidelines for different types of products, as well as different methods of accounting,” he said. “All the models are incredibly complicated, but it’s fun and rewarding to figure them out.” Carr uses his new-found knowledge to help establish confidence in the company’s finances for Nationwide’s members. “We play a big role in making sure the company can be financially stable. It’s really valuable to people who have policies to know we’re taking care of them.”

Schraeder didn’t anticipate finding such a fulfilling career in the insurance industry. However, she said, in terms of jobs, “you name it, the insurance industry can offer it. We have people that handle claims and crawl on roofs, hands-on,” Schraeder described. “And we have desk jobs and we have people actually investigating accidents, investigating fraud.” Nationwide’s rotational program for new hires, Carr added, is “a great opportunity for recent graduates who are looking for different things to learn.”

Could you see yourself in one of these roles? Stop by the CDO for an informational booklet on the insurance industry (while supplies last). Check the Kenyon Career Network for opportunities to connect with mentors, or schedule an appointment with the CDO to learn more about applying for a job in insurance or any other field.