MJ Insurance announced it has launched MJ Student-Run Insurance Company Ltd. at Butler University in Indianapolis.
Butler’s Lacy School of Business originated the insurance company to provide students with real-world experience in all facets of running an insurance company and will prepare them for an industry that anticipates 400,000 job openings by 2020.
Students in the program will learn how to write insurance policies, explore coverage terms, how to finance the company and other business tactical items.
Colin MacNab, executive vice president of property/casualty at MJ Insurance who serves on the Davey Program board at the university, served as a mentor for students in the Risk Management & Insurance program at Butler.
“The experience these undergrads will gain from this student-run operation are unparalleled, allowing students to have a hands-on learning experience. Students will gain technical experience that is normally acquired through an entry-level position. With this program, students will have mastered the knowledge and expertise required for a position that typically needs 1-3 years of real-world experience,” he said in statement.
Michaela Neal, risk transfer specialist trainee and former intern at MJ Insurance, recently graduated from Butler University and served as a key participant in the student-run captive program. During this time, she was able to create and update insurance financial reports, implement loss control techniques and underwrite real loss exposures. MacNab said Neal has been able to advance quickly at MJ due to her experience at Butler.
In the company’s announcement, Jon Loftin, president and COO of MJ Insurance, said: “We’re excited to partner with Butler on this experiential learning program where students will gain a deeper understanding of the industry and all of the career paths it may provide.”
MJ Insurance is a property-casualty and employee benefits agency that, since 1964, has grown from a two-person start-up to an agency with more than 140 employees in both Phoenix and Indianapolis.
Source: MJ Insurance
Topics Carriers Education Universities
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