Wednesday, November 1, 2023

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Honan on the Move: Chris Papakostas

Welcome Chris, and thanks for stepping into the Honan Careers Spotlight! First things first, let’s start at the beginning… as a child, what did you want to be when you ‘grew up’?

I never had a specific career path that I wanted to pursue, however spending most of my weekends engaging in sports, especially basketball, I became drawn to the sports, health, and fitness industry and knew I wanted to do ‘something’ with sports.

Tell us a little about your career journey - what led you to where you are now?

Whilst studying for my Commerce Degree, majoring in sport management, I tried to get as much industry experience as possible. I worked at the FINA Swimming World Championships, UCI (Cycling) Road World Championship, and across multiple gym facilities including Goodlife, Virgin Active, Melbourne Sports and Aquatic Centre (MSAC). After graduating I worked in Corporate teams at both North Melbourne Football Club and Richmond Football Club.

 

During the pandemic, I took a sidestep out of the sports industry and worked for my brother managing an E-Commerce platform. Knowing I always wanted to get back into the corporate sports industry, I was convinced after a few conversations with Honan employees that this was the right transition into a corporate industry with a company that offers plenty of growth opportunities.

 

Was it a hard decision for you to choose to change your career path? What was the deciding factor?

I knew that transitioning to a different industry was going to be a daunting step, especially because I had little to no prior knowledge or experience in insurance. Some friends who were already working at Honan said it was fun and a little different in a positive way. They spoke highly of Honan's culture and the industry, which was a great help in making this choice.

You’re now in the business of risk mitigation, what is the biggest risk you’ve ever taken, and did it pay off?

Growing up as the youngest of three, my brothers and I were always in the midst of sports and adventure. It seemed like if I didn't take risks, my brothers would make sure I did. I have some great (and less great) memories of the times we went water skiing. One of my brothers had purchased a race boat and we would try and see how fast we could go behind the boat (the quickest we got was just over 100km/h). Looking back and considering the injuries I sustained from ski racing, this was a lot more risky than we realised at the time and I have no plans of trying to reach speed level again any time soon.

 

Looking at your time with Honan, what is the greatest challenge you’ve faced and how did you overcome it?

Not long after I started, I realised that one of the biggest challenges was learning the technical jargon and understanding the complexities of insurance policies. Insurance is a highly specialised industry, and I soon got to know it has a language of its own which I hadn’t expected.

 

Honan was instrumental in helping me overcome the initial hurdles. I have some amazing colleagues and they were always willing to answer my questions and provide support whenever I needed it, helping me build my knowledge and understanding of the industry.

 

What motivates / energises you most about your work/role?

I really enjoy the data side of insurance and like to try and find ways to incorporate technology into the claims analysis process. I have been able to identify patterns in claims data and risk factors to help develop strategies for improving risk levels and to create tailored insurance policies that meet the needs of our clients. This has been specifically helpful for personal accident policies as these policies are reactive from people getting injured so ensuring the claims process is smooth is important to clients.

 

It's one of my goals to do more research to how data can help our clients understand their own risk profiles and the importance of insurance.

 

The best piece of career advice you’ve received?

Your personal brand is just as important as the company brand.

 

Developing a personal brand to me means building a reputation, establishing credibility, and showcasing your unique strengths and talents. By doing so, you differentiate yourself from others in your field, position yourself as an expert, and build a loyal following of people who believe in you and your abilities.

Which of your personal interests is your biggest asset and how does it help you professionally?

Unlike popular opinion, I love Excel. From improving efficiencies and solving puzzles to analysing data and preparing dashboards. Seeing the transition from large data to something that gives actionable results we can use in our negotiations with insurers to get our clients the most favorable outcome possible is great and gives me an opportunity to put my problem-solving skills to use.  

What is one piece of advice you would give your younger self when just starting out on your career journey?

There’s nothing wrong with trying different industries until you find one you enjoy.

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