And there’s already a framework to facilitate those conversations. Industry organizations such as Gamma Iota Sigma serve as a conduit to connect students with aspiring professionals, offering a unique opportunity for leaders to influence and guide the development of the next generation. These groups provide multiple avenues for leaders to get involved, including:

Creating connections. One of the most critical ways we can expand the insurance and risk management talent pipeline is by increasing access and providing a direct connection between insurance leaders and young professionals.
Providing opportunities to network. Industry organizations host a number of networking opportunities where potential insurance professionals can meet with aspiring leaders. These events invite students to build relationships with prospective employers, and they offer companies an opportunity to showcase their career paths and cultures. For example, the Gamma Iota Sigma annual conference brings together companies and students from hundreds of schools across the country for educational opportunities, presentations and resume building.
Training the next generation. By bridging the gap between the workplace and universities, industry organizations offer insight into insurance and risk management curricula and highlight opportunities for the industry to influence that programming. They also collaborate on pipeline programs such as job shadowing, career counseling and internships, delivering valuable experience to aspiring insurance professionals. Leaders who are involved with industry organizations can offer their expertise to help better prepare the next generation.

Finally, beyond their involvement in external associations and organizations, insurers can create their own talent pipeline initiatives. For example, our company has a program called Travelers EDGE (Empowering Dreams for Education and Employment), through which we partner with high schools, colleges, universities and community-based organizations to provide students with resources, from scholarships to internships, to help them earn bachelor’s degrees and prepare for careers at Travelers or within the broader financial services industry. Since Travelers EDGE’s inception in 2007, more than 340 students have completed the program and earned bachelor’s degrees. It has become an important lever in attracting talent for us.

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How to guide the next generation of insurance professionals

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