Insurers partnering with educational institutions to promote insurance talent development

Insurance organizations are exploring opportunities to develop talent and advance insurance education by partnering with educational institutions and developing additional digital solutions to improve insurance education courses. Here are a few highlights from recent collaboration announcements with a focus on digital solutions and talent development for the insurance industry.

National Insurance Education Alliance
The National Insurance Education Alliance has launched its first virtual reality suite for its insurance and risk management courses. The addition was announced at the Culture and Values ​​Conference, which highlights the importance of innovation, and attendees were able to take part in a demonstration. The first phase of an interactive VR experience is available for the Certified Risk Manager (CRM) Risk Management Principles course, which focuses on analytical risk identification techniques, financial statement analysis, and enterprise risk management. The virtual reality experience serves as an additional lesson to the risk management course and consists of a series of virtual locations in which participants learn to identify and evaluate potential hazards and risk exposure according to each environment, including convenience store, pizzeria and pizzeria. salon.

“If you’re new to the industry or really trying to figure out what a risk manager does in the world of property and accidents, and being able to actually be in an environment with all the noise and distractions, you can really gain experience without actually having experience. be in those places [with virtual reality,]says Will Hold, President and CEO of the National Alliance. – Once you experience it, you will also be able to understand [the industry] moreover, your belief system will definitely expand and you will actually be able to help clients or an employer… and become more valuable much faster.”

For the Principles of CRM Risk Management course, the National Alliance piloted a virtual reality experience in a web browser for participants who do not have VR headsets. Here with the password “VR” and, although less exciting, allows users to gain the same skills and educational benefits as headset users.

Standard and Morgan State University
The Standard announced a partnership with Morgan State University to promote diversity in actuarial science through fellowships and fellowships. Morgan State University is the only historically black college offering a bachelor’s degree in actuarial science, which is part of the mathematics department of the School of Computer, Mathematics, and Science. The Standard Scholarship Program will help low-income students with financial support, as well as offer paid internship opportunities.

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“Historically, there have been a number of systemic barriers to creating diversity in the profession… [such as] professional ignorance and financial barriers,” explains Sally Manafy, vice president, corporate actuary and chief risk officer at Standard. “Education is expensive. And so we feel that by providing support, we are creating an opportunity for those who can potentially pursue this career, who also have financial needs… And then with a paid internship, it really gives the intern the opportunity to get some real life experience to understand what they can see the work. It also gives them the opportunity to familiarize themselves with the Standard and make them think about their future careers in it.”

VIU from HUB and Arizona State University
VIU by HUB recently announced that it is providing a personal line digital brokerage solution for Arizona State University alumni and plans to introduce mentoring and talent development opportunities for current ASU students. VIU experts can hold various events and presentations, such as speaking in front of a class or at a conference.

Mike Keegan, VIU’s managing director of strategic partnerships, says: “They have some incredible programs at ASU… [VIU by HUB is] provide such opportunities to work with ASU, and not only with the Alumni Association, but also with various schools within the service area of ​​ASU, and help them in this regard.

VIU by HUB also looks forward to participating in internship or mentoring programs for students in the future.

“We see this as a way for us to become a true partner in the insurance aspect, providing both choice and a first-class insurance experience, in this case for the Alumni Association, but [also] then how do we work and really partner with the university to help them with any of their needs or give them access to some of our knowledge and resources,” says Keegan.

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