February is Insurance Careers Month
February marks the second annual Insurance Careers Month, which is designed to encourage young people to look at the diverse opportunities that a career in insurance offers. To help attract and recruit new talent to the industry, the Insurance Council of Texas (ICT) Education Foundation provides academic funding and scholarships to 10 Texas universities to encourage students to consider an insurance career. By the end of the year, ICT will have provided universities and their insurance and risk management students more than $1 million in funding.
“The insurance industry is graying rapidly and needs to attract and recruit the next generation of professionals,” said Mark Hanna, a spokesperson for the Insurance Council of Texas. “ICT board members were well aware of this need 15 years ago when it set up our current scholarship program and it has proved to be very successful.”
The Education Foundation created this video (See: https://www.youtube.com/watch?v=i2X2pOlxeU8) to help raise student awareness of the different and rewarding job opportunities available in the property and casualty industry,
Since its inception, this effort has resulted in $642,500 in scholarships to 436 students, and more than $275,000 in funding for class materials, registration for industry events, and testing for various insurance designations. In addition, the Education Foundation has funded an endowed chair at the University of North Texas, and the initial charter for Gamma Iota Sigma insurance fraternity chapter at the University of Texas at Dallas.
Along with scholarship opportunities and education funds, every semester, ICT works with its members to provide job and internship opportunities for its scholarship recipients. We also hosted a “Speed Interview and Networking Event” for scholarship students last July, with nearly thirty students and fifteen participating companies. Last year, nearly sixty percent of ICT scholarship recipients who graduated found jobs in the property and casualty industry.
“The ICT scholarship recipients have become an integral part of our annual Symposium,” said Hanna. “They are recognized for their accomplishment, but probably more importantly, they’re also seeking jobs and they get to network with insurance professionals and executives of several of the state’s largest insurance companies.”
The participating universities are Baylor University, the University of North Texas, the University of Texas at San Antonio, the University of Texas Rio Grande Valley, the University of Houston Downtown, the University of Houston Main, St. Mary’s University, Texas Southern University, Huston-Tillotson University and the University of Texas at Dallas.