MONTGOMERY, AL — The Alabama Captive Insurance Association’s Risky Business Internship program, in collaboration with Arsenal and Troy University, won the Next Generation Initiative of the Year award in the 2020 U.S. Captive Awards hosted by Captive Review.
The Next Generation Initiative category recognizes organizations around the US that have implemented initiatives to bring in the next generation of talent to the captive industry. Finalists in this category display innovative ways to promote the captive industry to the next generation and take proactive steps to prepare them for careers in the alternative-risk sector.
Category judges commented, “Risky Business’s comprehensive focus on providing a wide breadth of experience to students will help them understand the variety of opportunities in the field. Engagement, support and networking with real life practitioners is so valuable.”
The Risky Business Internship program is the first multi-entity program in Alabama to offer internships to risk management and insurance students. Risky Business is designed to expose students to the captive insurance and alternative risk management segments of the market to encourage them to pursue a career within the industry. The program provides undergraduate and graduate students the opportunity to gain experience in the risk management and insurance industry by exposing them to the daily operations of several different service providers.
“We are honored to have the Risky Business Internship program selected as a the most innovative Next Generation Initiative in the nation” Justin Law, Managing Director of the internship program, said. “With so few insurance-focused programs in Alabama, the Risky Business Internship program provides us with a platform to engage with students about the opportunities in the risk management and insurance industry.”
Since its official launch in January of 2020, the Risky Business Internship program has received national recognition by Captive International and received endorsements from notable organizations, such as the Alabama Property and Casualty Adjusters Association (APCAA) and the Alabama Department of Insurance (AL DOI). The program has also seen a 100% employment rate for all graduating seniors who have completed the internship program, several of which were offered employment opportunities by ACIA member businesses.
“We are thankful for the investment made by the ACIA and Arsenal alongside Dr. Edward Pappanastos, Associate Chair of the Department of Risk Management and Data Analytics at Troy, to student success within our RMI program,” Dr. Courtney Baggett, Program Director of Risk Management and Insurance at Troy University, said. “This program has provided our students with valuable professional opportunities, which have resulted in full-time positions.”
To learn more about the Risky Business Internship Program, visit www.ALCaptives.org/RiskyBusiness.
ACIA’s Risky Business Internship program is the first multi-entity program in the State of Alabama to offer internships to Risk Management and Insurance students year-round. Risky Business is designed to encourage a new generation of students to consider careers in the captive insurance and alternative risk management segments. The program is a unique and collaborative initiative that provides college students the opportunity to gain experience in multiple risk management environments during the internship.