by Alicja
Grzadkowska 18 Dec 2019
Getting
young people into the world of insurance isn’t always easy, especially as
studies have shown that their interest in
finding careers in the sector is flatlining. Yet, opportunities in
this space are increasing, with new technologies bringing a slew of potential
career paths. Spotlighting those while getting younger generations excited
about insurance is why one company launched its insurtech-focused scholarship,
which just crowned its fourth recipient.
“We
started it in 2016 and that was when the insurtech movement was really starting
to pick up speed,” said Becky Schroeder, chief marketing officer at Insurance
Technologies Corporation (ITC).
“We view ourselves as one of the original insurtechs. It’s in our name,
‘Insurance Technologies’, and we saw an opportunity because a common
conversation in the industry – probably always, but especially I feel like in
the last five years or so – has been, how do we get young people in this
industry? How do we fill the gaps that are going to be left by the aging
workforce as they retire and move on to that next stage of their life?”
ITC’s
InsurTech Scholarship recognizes and awards people who are in school and have
plans to go into the insurance industry, with applicants having to submit a
1,500-word essay about why they want to work in insurance. The 2019-2020
scholarship went to Sarah Jaquez, a full-time student at the University of
Texas at Dallas who first became interested in insurance after getting a
part-time job at a local insurance agency, Quantum Alliance.
While
Jaquez isn’t in an insurance-specific role at the moment, since she currently
works as an executive assistant, she fell in love with the industry and wants
to continue growing her career at the insurance agency.
“That was
such a great story that we felt it earned her the scholarship for this year,”
said Schroeder.
The
growth in applicants over the years proves that ITC’s work in creating interest
around the industry and the jobs within it is paying off.
“It has
certainly grown a lot. In the beginning, we didn’t have a ton of applicants,
but I think as we have gone through the years, we’ve certainly seen our number
of applicants grow,” explained Schroeder. “And one of the greatest things about
it is the people who know ITC and see some of the things that we’re putting out
have recommended the people they know that are in school and that are going to
be going into insurance to apply for it, so I think it’s just helping us grow
it even more.”
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