ICT on Track to Provide $1M in Insurance Education Funds by Year’s End

With Insurance Careers Month underway, the Insurance Council of Texas (ICT) Education Foundation announced that it expects to have provided more than $1 million in cumulative funding to Texas universities and their insurance and risk management students by the end of this year.

To help attract and recruit new talent to the industry, the foundation provides academic funding and scholarships to 10 Texas universities to encourage students to consider an insurance career. The program has been in place for 15 years.

Since its inception, this effort has resulted in $642,500 in scholarships to 436 students, and more than $275,000 in funding for class materials, registration for industry events, and testing for various insurance designations.

In addition, the Education Foundation has funded an endowed chair at the University of North Texas, and the initial charter for Gamma Iota Sigma insurance fraternity chapter at the University of Texas at Dallas.

Along with scholarship opportunities and education funds, every semester ICT works with its members to provide job and internship opportunities for its scholarship recipients. It hosted a “Speed Interview and Networking Event” for scholarship students last July, with nearly 30 students and 15 participating companies.

Last year, nearly 60 percent of ICT scholarship recipients who graduated found jobs in the property and casualty industry.

The participating universities are Baylor University, the University of North Texas, the University of Texas at San Antonio, the University of Texas Rio Grande Valley, the University of Houston Downtown, the University of Houston Main, St. Mary’s University, Texas Southern University, Huston-Tillotson University and the University of Texas at Dallas.

February marks the second annual Insurance Careers Month, which is designed to encourage young people to look at the diverse opportunities that a career in insurance offers.

Source: Insurance Council of Texas

Topics Texas Education Training Development Universities