Alexandria, VA – Feb. 4, 2019 – Today kicks off the 2nd annual College Agency Management Competition hosted by InVEST and the Big “I" Diversity Council. The event is designed to teach college students the basics of entrepreneurship, insurance agency management and business operations through a virtual online competition developed by PriSim.
Insurance and risk management students from eight different colleges and universities across the U.S. will compete by running a “virtual" insurance agency/brokerage. After choosing an agency name and determining their business goals, each week students will input their agency's decisions into PriSim's agency management platform. Student teams will control strategy, carrier and customer management, source management, staffing, sales and financials. Classroom professors, insurance agents, a corporate partner and a dedicated staff member from PriSim will support the students throughout the competition.
At the end of the February, the students' mentors and teachers will choose the top three teams based on their overall performance and business results. Students on the winning teams will receive a trip (funded by the participating Big “I" Diversity Council company sponsors) to the Big “I" Legislative Conference May 8-10, 2019 in Washington D.C. The conference will give students the chance to connect with executives from top insurance agencies and companies for possible internships and jobs.
Participating schools and sponsors include:
· Appalachian State—Boone, NC with Selective Insurance
· Howard University — Washington, D.C. with Safeco/Liberty Mutual
· Illinois State University – Normal, IL with Risk Management Solutions of America
· Indiana State University – Terre Haute, IN with Westfield Group
· Ohio State – Columbus, OH with Nationwide
· Temple University – Philadelphia, PA with Church Mutual
· University of North Carolina – Charlotte, NC with The Hartford
· University of North Texas – Denton, TX with CNA
“We are excited to have students from across the country participate in this competition," says Joe Leahy, Big “I" chairman. “Exposure to the independent agency channel and the insurance industry as a whole is so important to recruit young talent."
Founded in 1970 and based in Alexandria, Virginia, InVEST promotes insurance education 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. The Big “I" Diversity Council engages and develops a sustainable, diverse independent agency network by partnering with state associations, carriers, and industry affinity groups. The Diversity Council collaborates with other multicultural industry groups, state associations and other Big “I" committees to create an awareness of the opportunities and benefits of embracing diversity.
PriSim Business War Games Inc. works closely with leading organizations to build and deliver customized business simulations. The company assists clients in utilizing these custom tools to develop their employees' business acumen. Industry-specific simulations include insurance carrier, insurance agency and brokerage, insurance branch, mortgage banking, aerospace and defense, dealership, publishing, e-commerce, and manufacturing.
The Independent Insurance Agents and Brokers of America (IIABA or the Big “I") was founded in 1896 and is the tion'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 and health — as well as employee benefit plans and retirement products.