Program Senior Underwriting Manager Spotlight: Rick Farmer

As Zurich Programs continues to strengthen its portfolio and relationships, we are pleased to spotlight Rick Farmer, Vice President and Senior Underwriting Manager. Since joining the Programs organization, Rick has brought a thoughtful, relationship‑driven approach shaped by deep industry experience and a strong appreciation for Zurich’s culture, discipline, and long‑term focus.

In this Q&A, Rick shares his perspective on the Programs’ business model, leadership, and the opportunities ahead.

Q: What attracted you to Zurich Programs, and what excited you most about joining the Programs team?

The first thing that attracted me to this role is the Zurich organization. I have had the chance to be mentored and managed by folks in a prior role who had been long-term Zurich employees. Their professionalism, thoughtfulness, ethics, innovative approach and general business acumen were second to none. That always stuck in the back of my mind. Zurich had to have been doing something right. Furthermore, the commitment to employee wellbeing brought over from Switzerland is well-known throughout the industry. I feel incredibly grateful to be a part of Zurich as I have felt that 1^st class experience from the first day I engaged with recruiting.

Additionally, Zurich simply has a sparkling reputation in the market, both in the Programs community and beyond. They do things the right way, care about their partners and know how to make the hard decisions necessary to drive long-term profitability. Eric Cittadino and team have built a robust, diverse, profitable portfolio of programs that I have the honor of walking into. Frankly, joining Zurich was one of the easiest decisions of my professional career.

Q: What do you enjoy most about your role as a Program Business Manager, and why is it a good fit for you?

I think at the most fundamental level, I have really enjoyed my relationships with our people and our program administrators. It is, after all, one of the more personal/relationship-driven business models we have in the industry. It does start at the top with my manager Eric Cittadino though. I really am fortunate enough to have a manager who respects my opinions and legitimately empowers me as a market-facing leader and an internal manager. The trust I have been able to build there as we navigate a very challenging property market been critical. It has frankly put a mirror up to my own management practice and challenged me to step up my own game.

I also absolutely love the partners/programs administrators I get to work with. The coolest part about our job is that you get to see a third party’s different, unique approach to our business. Some of the insights, relationships and strategies that have developed allow them to be nimble and navigate a very difficult property market. It's really inspiring.

My employees, peers and team are what make this job so special. My colleagues Sharon and Brad have been instrumental in getting me engrained in the Zurich way and have supported my early stumbles. The underwriters and UAs on my team are the envy of this industry and the rest of our unit is simply first rate. Committed, caring and kind.

Finally, the support I have received from outside the Programs team has exceeded my expectations. Actuarial, Finance, LOB Underwriting, Data, Operations, HR, Audit, Compliance. You name it. If there is something I need, there is ALWAYS someone there to help. That is the sign of a deep, resilient organization.

Q: For someone less familiar with Zurich Programs, how would you describe what the team does and your role within it?

Describing programs to those unfamiliar with the model might be the most important and confusing discussion we have internally. I really view our role within the organization as more of an “investor” and “portfolio manager”. Our primary role is NOT to be involved on individual risk transactions.

Instead, we are tasked with finding specialist brokers (Program Managers, MGAs, etc.) who do SOMETHING specialized really well. This could be an industry segment, a class of business, line of business, etc. They have built a better mouse trap. Whether that is data, underwriting, distribution or most likely a combination of all the above, they are worth investing in. Rather than investing in equity, we invest risk capital. We negotiate an underwriting guideline/box that is agreeable, delegate many of the traditional functions of an insurer and then closely oversee that portfolio and how its developing. We make changes as needed and sometimes terminate if the partnership isn’t delivering the returns we expect. It's very much like a marriage with some highs and some very difficult conversations and “work” required to respond to a dynamic market and underwriting results.

Q: What personal strengths or behaviors do you most attribute your professional success to, and how do they show up in your work?

I would like to think that my colleagues and partners would describe me as creative, accountable, pragmatic, realistic, honest and fast-paced. I think this shows up most with how I identify problems in a portfolio and then help lead discussions on how to solve for them. I am not flashy. I like to focus on what a realistic solution or outcome looks like that we can deliver in a timeframe that is tangible. Great ideas might not be pragmatically implementable. My job is to identify what we can do in both the short and long-term to sustain a profitable portfolio. Oftentimes that means compromise and negotiation. I like to think I am competent in that arena.

Q: How do those strengths influence the way you work with program administrators and internal teams?

I like to start all conversations with the question “what are we trying to solve for here?” So often I believe well-intentioned solutions miss the mark because they have veered off the original mission. Sometimes the solutions, or at least an 80% solution, are in fact very simple and inexpensive to implement. By staying grounded on the problem statement, I think you end up being more agile.

Q: Who has most influenced your approach to your career or the way you build professional relationships?

I think that my prior career as a retail broker really shaped my perspective more than anything. In that world, your focus is always about how to solve someone’s problem. It doesn’t really matter what I want or what I am trying to accomplish. The client is hiring someone who solves their problems. Asking pointed questions that really identify true concerns allow us to focus our energy in the areas that drive the most meaningful change. 

Q: As a new member of the Programs team, what are your short- and long-term goals?

Short-Term, I have a couple core goals. First, is to establish trust both within the organization and with my Program partners externally. Programs are such a trust-based business model so establishing myself as a credible, honest, devoted co-worker and partner is critical in establishing my place at Zurich. Second, I want to be in a position where my team is very much on the front foot with all the programs in my portfolio. Can we articulate to anyone who asks:

- How are our programs performing based on just about every meaningful KPI?

- What historical action have we taken on the book and how has that impacted/changed the trajectory of the book?

- What are the gaps/deficits you are seeing prospectively?

- What actions are we planning/currently executing on to help minimize the downside impact to Zurich or capitalize on a market opportunity?

Long-term, I want to see Programs reliably generating a BOP for Zurich that allows not only our unit to grow, but provides Middle Markets with the financial stability to take risk and invest elsewhere. When done right, Programs can be an incredibly valuable part of an insurance organization like ours.

I would also like to find a way to grow our Unit’s impact in the commercial insurance ecosystem. An example could be working to provide solutions beyond the borders of the United States more effectively.

Q: Where do you see the greatest opportunity to make an impact within Zurich Programs?

In my earliest days at Zurich, I have been very grateful, and perhaps even a little surprised, to see my outsider perspective embraced so warmly. I think Zurich is committed (at nearly every level of the company) to challenging the status quo and my diverse background is very much valued here, I believe. I sometimes look at problems differently and certainly deploy different tact pursuing resolutions, particularly with our partners.

Q: As the programs market continues to evolve, how do you hope to support program administrators and help them succeed?

I think there is the constant battle between accountability and flexibility when it comes to our PA partners. We need to be vigilant capacity providers, constantly seeking insights from the market and from our PA data to ensure our portfolios are shaping up the way we would want/expect. Additionally, when our partners discover a market opportunity or have proven the ability to deliver above-market returns, my job is to help find them flexibility and lengthen their leash so that we do not become an impediment. The worst thing you can do as a Program Carrier, oftentimes, is choke the innovation and nimble nature of a program with bureaucracy.   

Q: What is your favorite guilty pleasure?

My 3-year-old daughter is really into Pokemon right now and I would be lying if I said I wasn’t enjoying re-living that ride from my childhood with her. I also genuinely look forward to a glass of wine or two at the United Club when traveling home in the late afternoon/evening. Something about that feels like a reward and forces me to get to the airport earlier than I would otherwise.

Q: What would people most likely find you doing on a typical weekend?

Being a Dad to a daughter and my two dogs. With a demanding scheduling during the week, I really do try to prioritize time with my family on the weekends. Whatever keeps her entertained and engaged is what you will find me doing. In the fall you will definitely find me tuning in on Saturdays to watch my Washington Huskies navigate life in the Big Ten Conference. I also occasionally am able to get away on some guy trips with a couple different groups of friends where you will oftentimes find us fishing in a new and exciting location.

Q: What is something you are particularly good at—inside or outside of work—that might surprise people?

I think people would be surprised to know that I am pretty knowledgeable when it comes to geography. I don’t get out much any more but historically I was a pretty decent Trivia partner across the board. My friends gave me the nickname “Rickipedia”. I am also a pretty good swimmer as I played Water Polo all through college. I also pride myself on being a bit of a dog whisperer and have the softest part of my heart reserved for my K9 friends.