The insurance industry is complex and dynamic, made up of a wide variety of products and services that offer problem-solving solutions to clients. In this complexity lies the depth and breadth of the industry — the insuring promise.
Insurance professionals operate in volatile conditions with solution-driven mindsets. Such mindsets enable them to provide the protection their insureds need to guard themselves against the unthinkable, have peace of mind, take risks and progress. Insurance makes people and businesses whole again after suffering a loss — what an incredible purpose.
Insurance, in many ways, is the foundation of the economy; it is a force that fosters innovation by supporting the ambitions of insureds everywhere, from everyday people, to small businesses, to multinational corporations. Without insurance, people might not own property, businesses would struggle to expand, and cutting-edge innovation would not be so easily supported.
Earlier this month, I had the opportunity to attend the RIMS Annual Conference, which is the largest exhibition dedicated to risk management in the world. The event was held in Bostonand attracted over 10,000 attendees from all areas of the insurance industry, with over 70 countries represented. As a student at the conference, I was able to experience the unique culture of the insurance industry firsthand.
The conference was filled with creative exhibits from many insurance and risk management companies; these companies were eager to pitch their expertise to businesses seeking risk management and insurance solutions. Passion for the industry emanated off of these exhibits, and every professional at the event truly believed in their work. As a student, I was excited to see such a strong, entrepreneurial energy embedded within the industry’s culture.
I also couldn’t help but notice how people-driven this industry is. It’s dedicated to protecting insureds, of course, but it also has love and support for people working within the industry — especially students. Every professional at the conference was so excited to see students present and more than happy to spend time conversing about their journey, offering advice and connections. Students were invited to several industry parties, like AIG and Zurich, which gave us opportunities to network with high-level executives like AIG CEO Brian Duperreault.
We were able to participate in several forums that discussed hot topics within the industry, such as block chain and insurtech. At these forums, professionals shared their experiences and offered best practices to improve efficiency. The interconnectedness of the industry is supported by this utter willingness to help each other.
During the conference, four Saint Joseph’s University students participated in the 2019 Spencer-RIMS Risk Management Challenge in which they identified and strategically analyzed the top five risks for Ikea. The team presented in three rounds and went on to win the competition. The competition truly showcased the talented and knowledgeable students entering the industry!
The RIMS Conference was an amazing experience, and I look forward to attending next year. Every student in attendance left RIMS proud to be entering an industry of allegiance and integrity, doing work that is pioneering and dynamic. The experience affirmed for me that the insurance industry has the best people and careers!
Written by: Kayla Cecchine