New Competition Brings Real-World Education to Ohio’s Insurance Students

September 27th, 2017

                                         

COLUMBUS, OH – September 25, 2017 – The personal tragedies unleashed by hurricanes Harvey and Irma also illustrate the role the insurance industry has in rebuilding lives. And they underscore the need for a skilled workforce dedicated to helping people during their most vulnerable moments.

One example of how insurers are building that talent pipeline will occur Sept. 30 when teams of Ohio college students compete in the Insurance Collegiate Challenge, a statewide competition hosted by Fundación MAPFRE and the Insurance Industry Resource Council (IIRC).

The Insurance Collegiate Challenge was designed to provide today’s students with a real-world, interactive simulation that will prepare them for careers as tomorrow’s insurance professionals.

“Our industry gives young people an opportunity to contribute something larger than themselves,” said Dave Kaufman, CEO of Motorists Insurance Group and co-chair of the IIRC. “When bad things happen to good people, we are there to restore their way of life. Insurance plays a critical role in all aspects of society.”

Insurance also is an economic pillar in Ohio, home to 245 insurance companies. In 2017, the industry will contribute nearly $609 million in taxes to Ohio’s bottom line – over $1.66 million a day. If the industry is to continue to grow, it needs to attract more skilled workers. In fact, the industry will need 29,000 new workers to fill open positions statewide between now and 2024.

The event will take place at Ohio Dominican University in Columbus. During the full-day event, Fundación MAPFRE trainers will provide student competitors with a comprehensive understanding of how insurance companies make money and guide them through a live simulation to see which team can run the most successful company. The simulations will mimic the same scenarios that Fundación MAPFRE uses to develop and hone its own organization’s internal talent.

Teams will have the opportunity to use critical 21st century skills, such as collaboration, communication and decision-making as they work with industry leaders during the simulation.

“Fundación MAPFRE is dedicated to developing a society with a healthy future. The Insurance Collegiate Challenge promotes that future through education,” notes Alfredo Castelo, representative of Fundación MAPFRE in the U.S.

The winning team will be announced on the field later that evening during a special ceremony at the last home game of the Columbus Crew (MLS) at MAPFRE Stadium.

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About Fundación MAPFRE  

Fundación MAPFRE is a non-profit organization created by MAPFRE Insurance in 1975, which performs its activity in 29 countries and whose main objective is to promote the well-being of society and citizens across the company’s footprint.  It is the insurance company’s majority shareholder, thus helping to ensure the firm’s independence and shareholding stability. 

The Fundación’s operations focus on five areas:

  • Accident Prevention and Road Safety
  • Insurance and Social Protection
  • Culture
  • Social Action
  • Health Promotion

In 2016, the Fundación performed more than 350 activities around the world, which benefited nearly 17 million people. For more information about Fundación MAPFRE, please visit https://www.fundacionmapfre.org/fundacion/en

 

About the Insurance Industry Resource Council (IIRC)

Through the Insuring Ohio Futures initiative (http://www.insuringohiofutures.com/), the IIRC works to change the industry’s image and create a talent pipeline. It focuses on collaborating with Ohio’s colleges and universities to create insurance programs. In 2011, not a single Ohio college or university offered programs specific to insurance; now there are 10 programs across the state, and more than 200 insurance students have graduated since 2012.

 

About Ohio Dominican University

Ohio Dominican University is a comprehensive, four-year, private, liberal arts and master’s institution, founded in 1911 in the Catholic and Dominican tradition by the Dominican Sisters of Peace. The university has approximately 1,700 students and offers undergraduate degrees in 40 majors and nine graduate degree programs. At ODU, students connect their passion with a purpose.