ALEXANDRIA, Virginia, July 15, 2016 – InVEST, the insurance industry’s premier classroom to career education program, has awarded a $500 scholarship to Katelyn Ercolani from Pinkerton Academy in Derry, New Hampshire. The scholarship program is a key incentive in attracting new talent to the insurance industry which will have an estimated 400,000 open positions by 2020 and faces a critical workforce gap.
“InVEST congratulates Katelyn Ercolani, one of the 79 students representing 23 high schools, colleges and universities in nine states, who earned scholarships this year,” says Cindy Hower, InVEST board chair and president of Kellerman Insurance, an independent agency in Holton, Kansas. “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 800 InVEST programs across the country are better equipped to 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 insurance in general as well as the dynamics of insurance agencies and companies. At the college level, the program develops students’ risk management and financial analysis skills. Along with corporate and 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 financial literacy of our young people, to the future of the independent agency system and to the insurance industry as a whole,” says Robert Rusbuldt, Big “I” president & CEO. “Many are concerned that the average age of an insurance agent is almost 60 and as baby boomers continue retiring in record numbers, the InVEST program has the potential to replenish our workforce and to produce the next generation of industry professionals and leaders.”
This year, InVEST awarded $73,500 in scholarships to 79 students pursuing insurance-related degrees. The 2016 scholarship winners represent 23 schools and hail from California, Connecticut, Florida, Georgia, Louisiana, Michigan, New Hampshire, New York and Ohio.
for a complete list of scholarship winners.
Scholarship hopefuls from across the country 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, Virginia, 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 Independent Insurance Agents & Brokers of America (IIABA or 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.