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Workforce Development Summit Welcome. Risk Management/ Insurance Education The industry needs skilled workers. Students need jobs. W E ALL CAN HELP.

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Presentation on theme: "Workforce Development Summit Welcome. Risk Management/ Insurance Education The industry needs skilled workers. Students need jobs. W E ALL CAN HELP."— Presentation transcript:

1 Workforce Development Summit Welcome

2 Risk Management/ Insurance Education The industry needs skilled workers. Students need jobs. W E ALL CAN HELP.

3 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.

4 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.

5 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.

6 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

7 We’re adding jobs Average Annual Openings, Growth Claims Adjusters, Examiners, and Investigators Customer Service Representatives Insurance Sales Agents Insurance Underwriters 4,537 Source: Florida Department of Economic Opportunity, 2014-2022 Statewide forecast

8 We need to replace workers Average Annual Openings, Replacement Claims Adjusters, Examiners, and Investigators Customer Service Representatives Insurance Sales Agents Insurance Underwriters 7,406 Source: Florida Department of Economic Opportunity, 2014-2022 Statewide forecast

9 It’s time to build the bench

10 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.

11 GWF Game Plan Recruit agent and industry “ambassadors” with relationships at state colleges (board members, civic group activities, etc.) to open doors.

12 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

13 GWF Game Plan: Enhance & Expand Enhance insurance specialization programs for students and incent more colleges to offer by passing workforce development legislation.

14 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

15 Established programs St. Johns River State College St. Pete College Santa Fe College Good Works Fund Game Plan

16 New programs Broward College Polk State College Seminole College Tallahassee Community College Good Works Fund Game Plan

17 Programs under consideration Gulf Coast Hillsborough Community College State College of Florida Good Works Fund Game Plan

18 IT’S NOT WHAT YOU SAY, IT’S HOW YOU SAY IT. Think students aren’t interested in working in the insurance industry?

19 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

20 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

21 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

22 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?

23 GWF Game Plan: Work together Agencies Carriers Local boards State colleges Associates

24 GWF-FAIA-DFS Resources Greg Thomas – Florida DFS Director of Agent and Agency Services – Greg.Thomas@myfloridacfo.com Greg.Thomas@myfloridacfo.com Lee Martin – FAIA, GWF Staff Liaison – lmartin@faia.com lmartin@faia.com Sue Ray – FAIA, Dir. Of Communication – sray@faia.com sray@faia.com


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