Toops Scoops: The Council’s Student Challenge Goes to the Source to Attract Youth

We do a lot of hand-wringing in our industry about the lack of young talent and the urgency of recruiting the good ones before every single independent agent in America leaps lemming-like into retirement. We’ve known for a long time that insurance has an image problem and that we can’t keep applying the same principles to recruiting and hiring and expecting a different result.

But smart organizations are doing something about attracting young people by going directly to the source. That’s the thinking over at The Council of Insurance Agents & Brokers, which recently announced a new student competition that not only targets young people, but was designed by them.

Sponsored by its FAME charitable and educational arm – the Foundation of Agency Management Excellence – and open to risk management students at FAME’s universities, the “Dream, Risk, Win” competition challenges teams of up to five students to craft a plan addressing a complex industry issue over the course of an academic semester. The bait? A top award of $10,000.

“Our industry’s traditional hiring paradigm has never been focused on recruiting the younger generation, but rather on ‘churning and burning’ hires from the competition. But we’re in a new world now,” said Julia Kramer, SVP of leadership and management sources at The Council.

The association has been working on the issue of how to engage younger generations in the insurance industry for several years, and has developed a number of initiatives. They reach out to college students through their scholarship program and conduct workshops at the member level to develop leadership among the youngest employees. The Council also generates publications like the “Hottest Career You’ve Never Heard Of” booklet that’s sent out to participating FAME universities to educate faculty and career counselors on the industry. And they maintain an active member ambassador program that connects with students at FAME universities for internships and jobs.

But this latest program is different because it was actually created by young people.

The Council asked its own young employees and college interns to help design a program that would grab the attention of their peers. The young team came up with the questions and helped design the contest’s web page and marketing material.

The two challenges are:

1. Recruiting for the Future. How can the commercial brokerage industry attract the new generation into its workforce?

2. Future Broker Model. What will the future brokerage business model look like?

Competitors are also welcome to attack another issue as long as it’s relevant to the industry.

Students will work with faculty advisors to develop a 2-3 minute preliminary video “elevator pitch” project overview; a final 5-minute video; and a written business plan addressing the issue.

The competition deadline is Jan. 31, 2013, with winners expected to be announced by May. Awards will be presented in October at The Council’s Insurance Leadership Forum in Colorado.

For detailed information on the competition, go to http://www.ciab.com/FAME/DreamRiskWin/

About the Author
Laura Mazzuca Toops, PropertyCasualty360.com

Laura Mazzuca Toops, PropertyCasualty360.com

Laura Mazzuca Toops, National Underwriter Property & Casualty executive managing editor, is responsible for the Agent & Broker channel for PropertyCasualty360.com. Her more than 20 years of property & casualty insurance experience includes associate editor at Business Insurance, Midwest managing editor with Insurance Journal, and freelance work for insurers, brokers and trade associations. She holds a bachelor’s degree in journalism from Columbia College Chicago. She may be reached at ltoops@SummitProNets.com

Comments

Resource Center

View All »

Is It Time To Step Up And Own An Agency?

Download this eBook for insight on how to determine if owning an agency is right...

Claims - The Good The Bad And The Ugly

Fraudulent claims cost the industry and the public thousands of dollars in losses. This article...

Leveraging BI for Improved Claims Performance and Results

If claims organizations do not avail themselves of the latest business intelligence (BI) tools, they...

Top 10 Legal Requirements for E-Signatures in Insurance

Want to make sure you’ve covered all your bases when adopting e-signatures? Learn how to...

Get $100 in leads with $0 down!

NetQuote's detailed, real-time leads have boosted sales for thousands of successful local agents across the...

The Growing Role of Excess & Surplus Lines in Today’s...

The excess and surplus market (E&S) provides coverage when standard insurance carriers cannot or will...

Increase Sales Conversion with this Complimentary White Paper

This whitepaper will share proven techniques - used by many of the industry's top producers...

D&O Policy Definitions: Don't Overlook These Critical Terms

Unlike other forms of insurance where standard policy language prevails, with D&O policies, even seemingly...

Environmental Risk: Lessons Learned from Willy Wonka and the Chocolate...

Whether it’s a chocolate factory or an industrial wastewater treatment facility, cleanup and impacts to...

More Data, Earlier: The Value of Incorporating Data and Analytics...

Incorporating more data earlier in claims lifecycles can help you reduce severity payments by 25%*...

Agent & Broker Insider eNewsletter

Proven success tips and essential information to help agents and brokers grow their practice – FREE. Sign Up Now!

Advertisement. Closing in 15 seconds.