Rev. Jackson Says Underserved Communities Untapped

The Standard, a weekly insurance magazine for New England, reported that Rev. Jesse L. Jackson told p/c insurance officials in late Jan. that U.S. insurers can find profitable new business and investment opportunities in the vast, untapped markets of the inner cities, transforming them into thriving neighborhoods.

Jackson’s comments came at the 4th annual P/C Insurance Joint Industry Forum.

Jackson asked insurers to address these gaps with energy, creativity and a seriousness of purpose.

Based on the economy’s performance over the last 10 years, overall business growth averaged 5 percent per year. During the same period, between 1987 and 1997, African-American owned small businesses grew at a rate of 100 percent. Asian-American small businesses grew 180 percent and Hispanic-American businesses grew 200 percent.

Jackson cited several programs that the insurance industry is already involved with, including the InVEST Program, a national initiative designed to educate high school and community students in insurance-related business skills.