Six Indiana State University students have been selected to compete in a month-long collegiate competition sponsored by Selective Insurance Company of America to test drive careers in insurance while building industry knowledge and experience.
Six Indiana State University students have been selected to compete in a month-long collegiate competition sponsored by Selective Insurance Company of America to test drive careers in insurance while building industry knowledge and experience.
Students from Indiana State represent one of seven university teams from around the country that have begun running virtual insurance agencies in a computer-simulated environment to gain insights into key processes and decisions commonplace in the insurance industry.
With support from agency mentor Peter S. Forsee, vice president of accounting for ONI Risk Partners in Indianapolis, and Selective, the teams will compete against each other in weekly exercises using high-level learning objectives that will help them build business and financial acumen. The team's company mentor is alumnus Brad H. Hanna, Executive AMS for Selective Insurance.
The first-place team will present their winning strategy to Selective's leadership team.
The ISU's team is comprised of players majoring in insurance and risk management and maintain a GPA of 3.0 or higher. They are:
Jacob Kissick, senior Kyle Collins, senior Erika Perry, senior Ellei Kay, junior Josh Bruce, senior Zach Holt, junior
"The Selective Agency Management Collegiate Competition is an exciting and unique opportunity for our students to gain real-world, hands-on knowledge and to develop their skills in agency management. The competition encourages a collaborative environment while preparing students for a career in the insurance industry," said Rebecca Wray, Gongaware Center and Networks Financial Institute director.
Rewarding careers in the insurance industry continue to be one of the best-kept secrets across college campuses. According to the Insurance Information Institute, the insurance industry is a major U.S. employer, providing some 2.7 million jobs that encompass a wide variety of careers, including engineering and data science, IT, human resources, and financial analysis. Some jobs, such as claims adjusters, actuaries and insurance underwriters, are unique to the insurance industry, but other roles are also needed, such as public relations and innovation professionals, for example.
The academic institutions participating in Selective's Collegiate Competition include: Appalachian State University, Howard University, Indiana State University, Illinois State University, Middle Tennessee University, Temple University and University of North Carolina, Charlotte.
Teams will meet weekly with their assigned Agency Mentors, who will review their progress and assist them as they navigate the challenges of the competition. Team performance will be evaluated by a marketplace created by competing participant teams. The month-long competition simulates the control of foundational business tools with a focus on: strategy, carrier/customer/source management, staffing, sales, and financial management. The teams are challenged to implement these tools in a computer-simulated "virtual" agency.
Photo: https://photos.smugmug.com/photos/i-d4C2Htd/0/X3/i-d4C2Htd-X3.jpg - Students pictured are (left to right) Jacob Kissick, Kyle Collins, Erika Perry, Ellei Kay, Josh Bruce, and Zach Holt.