workforce development summit welcome. risk management/ insurance education the industry needs...

Workforce Development Summit

Welcome

Risk Management/Insurance Education

The industry needs skilled workers.

Students need jobs.We all can help.

The Good Works Fund:• Established in 2009.• Supports charitable giving in the

insurance field with an emphasis on insurance education.

• Governed by a volunteer leadership committee composed of independent insurance agents.

The Good Works Fund:• Provides guidance and support for

colleges to establish insurance specialization programs.

• Provides funds to state colleges for scholarships to students pursuing an AA or AS with insurance specialization.

The insurance talent gap is huge

• Most of you already feel the pain.–Older workers are retiring even as the

industry is growing.–Qualified workers are increasingly difficult

to find.– Intra-industry poaching is rampant.

Industries Gaining the Most New Jobs

Statewide

Rank Title 19 Insurance Carriers & Related Activities

Forecast: 9.7 percent growth over next 8 years

Source: Florida Department of Economic Opportunity, 2014-2022 forecast

We’re adding jobs

Average Annual Openings, Growth

Claims Adjusters, Examiners, and InvestigatorsCustomer Service Representatives Insurance Sales Agents Insurance Underwriters

4,537Source: Florida Department of Economic Opportunity, 2014-2022 Statewide forecast

We need to replace workers

Average Annual Openings, ReplacementClaims Adjusters, Examiners, and InvestigatorsCustomer Service Representatives Insurance Sales Agents Insurance Underwriters

7,406Source: Florida Department of Economic Opportunity, 2014-2022 Statewide forecast

It’s time to

build the bench

GWF Game Plan: Establish

Establish insurance specializations programs at state/community colleges to develop a pipeline of job candidates who are “work ready” on day one.

GWF Game Plan• Recruit agent and industry

“ambassadors” with relationships at state colleges (board members, civic group activities, etc.) to open doors.

GWF Game Plan• Offer colleges financial support

to market the program to students

• Grant colleges money to provide student scholarships and assistance

• Create an internship program

GWF Game Plan: Enhance & Expand

Enhance insurance specialization programs for students and incent more colleges to offer by passing workforce development legislation.

Workforce bill now law

As of July 1, 2015, students who graduate with an AA or AS degree with nine (9) credit hours of insurance instruction approved by DFS receive both a 4-40 and a 20-44 license.

Good Works Fund Game Plan

Established programs• St. Johns River State College• St. Pete College• Santa Fe College

Good Works Fund Game Plan

New programs• Broward College • Polk State College• Seminole College• Tallahassee Community College

Good Works Fund Game Plan

Programs under consideration

• Gulf Coast• Hillsborough Community

College • State College of Florida

Good Works Fund Game Plan

IT’S NOT WHAT YOU SAY, IT’S HOW YOU SAY IT.

Think students aren’t interested in working in the insurance industry?

• 9 out of 10 students surveyed said they are not interested in working in the insurance industry.

• But 6 in 10 said they would like a job that includes analyzing risk and recommending solutions.

Source: The Griffin Insurance Education Foundation

GWF Game Plan: Reframe the career

• Insurance-industry jobs are projected to grow and offer above average work-life balance.

• Insurance jobs offer ample opportunity for advancement.

• Insurance is virtually recession proof: consumers never stop needing it.

Appeal to millennials

Good Works Fund Game Plan

• Insurance agent ranks #7 on U.S. News & World Report’s 2015 Business Best Business Jobs list

• Also on the list: sales manager (#13), sales rep (#15), and customer service rep (#22)

Not just jobs…good jobs

Good Works Fund Game Plan

Discussion Points–How best to support the colleges, i.e. social

media, collateral supporting materials, faculty, curriculum or scholarships.

–What industry participation do colleges need? Job fairs, on campus recruiting, guest speakers?

–How important is an internship/capstone component? Do you currently offer paid internships? Will the industry support interns?

–What is the biggest challenge we have not addressed that you foresee?

GWF Game Plan: Work together

• Agencies• Carriers• Local boards• State colleges• Associates

GWF-FAIA-DFS Resources

• Greg Thomas – Florida DFS Director of Agent and Agency Services– Greg.Thomas@myfloridacfo.com

• Lee Martin – FAIA, GWF Staff Liaison– lmartin@faia.com

• Sue Ray – FAIA, Dir. Of Communication– sray@faia.com