ALEXANDRIA, Virginia, Aug. 19, 2015 – InVEST, the insurance industry’s premier classroom to career education program, has awarded a $500 scholarship to Loren R. Smalley from Charlotte High School in Charlotte, Michigan.
“InVEST congratulates Loren R. Smalley, one of the 88 students representing 32 high schools, colleges and universities in 14 states and Washington, D.C., who earned scholarships this year,” says Robert G. Slocum, CPCU, CIC, InVEST board chair and president of The Slocum Agency, Inc., an independent agency in Warwick, Rhode Island. “InVEST develops future industry professionals by teaching high school and college students about insurance, risk management and financial services. As a result, students from more than 650 InVEST programs across the country are equipped with knowledge to help them pursue careers in an agency, company or other insurance industry organization.”
InVEST contributes to the education and development of future insurance professionals through academic programs and scholarships. In high schools, the program offers students a business curriculum which teaches them about the dynamics of insurance agencies and companies. At the college level, the program develops students’ risk management and financial analysis skills. Along with direct contributions, scholarships are funded through proceeds generated by the InVEST Silent and Live auctions held in conjunction with the Independent Insurance Agents & Broker’s (IIABA or the Big “I”) Legislative Conference.
“A successful InVEST program is critical to the future of the independent agency system, to the insurance industry as a whole and to the financial literacy of our young people,” says Robert Rusbuldt, Big “I” president & CEO. “Many people in the insurance industry are concerned that the average age of an insurance professional is around 54. As baby boomers continue retiring, the InVEST program has the potential to replenish our workforce and produce the next generation of industry professionals and leaders.”
This year InVEST awarded $77,000 in scholarships to 88 students pursuing insurance-related degrees. The 2015 scholarship winners represent 32 schools and hail from Arkansas, California, Connecticut, Florida, Georgia, Louisiana, Massachusetts, Maryland, Maine, Michigan, New Hampshire, New York, Ohio, Virginia and Washington, D.C.
for a complete list of scholarship winners.
Scholarship hopefuls submitted essays describing the influence and benefits of InVEST on their educational plans. The quality of the essay, combined with the applicant’s grade-point average and extracurricular activities, were factors in selecting the recipients. Scholarship checks are mailed directly to the institute of higher learning that each student is attending and will be used exclusively for educational expenses.
As a 501(c)(3) educational trust, InVEST benefits from the support of numerous insurance organizations, hundreds of agencies, brokers and volunteers. The program provides the insurance industry with motivated, talented and intelligent professionals through a support structure of state associations, board members, national staff, teachers and the many industry professionals who work in the field as classroom liaisons.
Founded in 1970 and based in Alexandria, Va., InVEST promotes insurance education in order to attract individuals to pursue a career in the insurance industry. Each year, the program prepares thousands of students for insurance-related careers with a hands-on curriculum taught in high schools, adult education centers and colleges. These courses provide students with a working knowledge of the basics needed to pursue careers in the insurance industry. For more information, go to www.investprogram.org.
Founded in 1896, the Big “I” is the nation’s oldest and largest national association of independent insurance agents and brokers, representing a network of approximately a quarter of a million agents, brokers and their employees nationally. Its members are businesses that offer customers a choice of policies from a variety of insurance companies. Independent agents and brokers offer all lines of insurance—property, casualty, life, health, employee benefit plans and retirement products. Web address: www.independentagent.com.