Leader, risk management and insurance
CITY OF CALGARY
Calgary, Alberta
Fazal Ashraf was pulled into the world of insurance after purchasing his first policy. “Initially I was pursuing a career in law,” he says, “but that quickly changed when I took an insurance course and it spoke to me in a language I understood. In the years that followed, I held various positions in personal lines, commercial lines, underwriting and risk management.”
Today, Ashraf leads the risk management and insurance efforts of the City of Calgary, where he faces unique risks not typically seen in the private sector. “Risk management in the public sector is unique,” he says. “We certainly have to address the emerging risks that all organizations are faced with, but instead of being mindful of shareholders, our mandate is to manage risk on behalf of the citizens of Calgary.”
Faced with exposures that range from standard liability and property to emerging risks like cyber, drones and autonomous vehicles, Ashraf’s biggest challenge today is to ensure the understanding of the changing marketplace. By remaining one step ahead of these risks, Ashraf is able to transfer, manage and control them to promote a healthy city.
In an industry where relationships form the foundation of business partnerships, Ashraf is no stranger to their significance, especially when it comes to looking for a long-term partnership with an insurance provider. “Choosing an insurance provider should not be a quick decision,” he says. “Both clients and insurers prefer to operate on a long-term basis, so it is prudent to do your checks and balances before committing to that relationship.”
