Rewarding careers in the insurance industry continue to be one of the best-kept secrets across college campuses for varied reasons. Considering the record number of opportunities within the industry, companies like Selective Insurance Company are providing opportunities to attract and engage a diverse group of young talent to the insurance network. This year, Selective Insurance Company of America sponsored the Selective Agency Management Collegiate Competition in partnership with PriSim and InVest. The competition was aimed at creating an awareness and an appreciation for the varied opportunities available to motivated college students with an interest in the insurance industry.
A student team of 5 from the chapter, participated in the second staging of the Selective Agency Management competition. They were tasked to make a struggling insurance company profitable using a simulated environment. The competition spanned the entire month of February during which time, our team came together weekly to manage the agency while outperforming competitors: the other seven college teams from across the nation. In total, there were 4 rounds, each equating to a year. The team’s performance was evaluated by a marketplace created by competing participant teams.
Our students gained experience from high-level learning objectives and outcomes that build business and financial acumen as they managed the virtual insurance agency. The competition simulated the control of foundational business tools with a focus on: strategy, carrier/customer/source management, staffing, sales, and financial management.
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