The federal government estimates 2.9 million Americans are employed by the insurance industry and February’s annual celebration of Insurance Careers Month is a reminder of the opportunities it offers, according to the Insurance Information Institute (Triple-I).
“As the backbone to economic growth and prosperity, a career in insurance provides a wealth of career opportunities. Whether just starting out in the workforce or thinking about a career change, talented individuals should explore the world of insurance and risk management. Insurance Careers Month is a great reminder that this industry is filled with potential,” said Sean Kevelighan, CEO, Triple-I.
Triple-I, The Institutes, the Insurance Industry Charitable Foundation (IICF), and the Insurance Careers Movement are among the organizations recruiting and retaining insurance industry professionals.
To raise awareness about insurance as a potential career path, the Triple-I continues to partner with the HBCU I.M.P.A.C.T Initiative, Inc.® (IMPACT), a campaign aimed at recruiting students at historically Black colleges and universities (HBCUs) to the insurance industry. The Black Insurance Industry Collective (BIIC), a non-profit affiliated with The Institutes, is focused on accelerating the advancement of Black insurance professionals. The IICF’s Mentoring Alliance partners mentors with mentees from different companies across the insurance industry to share a wider range of experiences.
“Our IICF Mentoring Alliance pairs emerging leaders from underrepresented communities with diverse role models and allies within the Insurance Industry. We are in our second year, and we doubled our mentee/mentor participation. Mentees appreciate having a mentor from outside their own company but within our Industry, as it provides a safe space to share perspectives and receive valuable guidance,” said Barbara Reilly, senior vice president, Amwins, and a member of the IICF’s IDEA (Inclusion, Diversity, Equity, and Accessibility) Council.
“Connecting our high potential nontraditional employees with relatable mentors as they move into their first managerial roles is critical. It’s not enough to attract new talent. We need to keep talent in the industry and ensure success,” stated Elizabeth (Betsy) Myatt, vice president and chief program officer, IICF.
As part of Insurance Careers Month, the sixth annual Emerging Leaders Conference is being held between Feb. 4-6, 2024, in San Antonio, Texas. Hosted by the American Property Casualty Insurance Association (APCIA), AM Best, and the Insurance Careers Movement, it gives younger industry professionals access to executive thought leadership, provides unique networking opportunities across job functions, and offers an agenda which focuses on professional and personal development.
“The insurance industry is facing the most competitive labor market in decades, making retaining and developing talent a top priority,” said Marguerite Tortorello, managing director, Insurance Careers Movement, an industrywide initiative designed to raise awareness of the diverse career options that risk management and insurance offer. “The Insurance Careers Movement is designed to bring together and recognize exceptional rising stars in our industry; an industry we are most proud to be a part of.”