Surplus lines internships foster insurance-career success
Organizers take pride in opening up the wholesale insurance world to young people who might not have known about these careers.
More than half of the 355-plus college students who have participated in the Wholesale & Specialty Insurance Association’s annual internship program since its inception in 1981 end up working in the industry.
“Supporting interns is important for several reasons,” says Gerald Dupre, president and chief underwriting officer of the specialty insurance division of Hallmark Financial Services and 2022 co-chair of WSIA’s Internship Committee. “These interns are top-notch students who we want to enter the surplus lines workforce, and many of them will have opportunities outside of (the wholesale insurance business), so it’s imperative that we support their summer experience in our industry so they will have a good understanding of the opportunities afforded here. They also have their own networks, and we want them to go out and speak positively about the experience.”
That last goal — to provide interns with positive professional development experiences — came full circle in 2022 when several of the 25 interns shared their program evaluations with Chris Timmerman, WSIA’s senior manager of Student Relations.
“Students really liked and appreciated the mentorship aspect of the program,” Timmerman says. In addition to working at two different surplus lines insurance organizations during their internships, students also benefit from a mentor from the WSIA Internship Committee. “That mentor is another resource for them and serves as a sounding board for what they’re learning.”
The WSIA Internship program is geared toward students who have a risk management and insurance (RMI) major and/or background. The WSIA Diversity Foundation also facilitates an internship program. Twenty-five students participated in 2022, in addition to another 10 interns who were procured by the WSIA Diversity Foundation.
The nine-week paid internship provides rising professionals with experience in both the underwriting and brokerage sides of the surplus lines marketplace with WSIA member host firms. Interns spend time in a variety of roles and departments including claims, data processing, accounting, operations, brokerage, human resources, marketing, and reinsurance and underwriting.
Wendy Houser is especially pleased when an intern who may have come to the program uncertain about their career trajectory ends up committing to work in the surplus lines insurance sector.
“It’s also great when you encounter an intern who initially anticipated they would enjoy the carrier or broker side of the business more than the other then, after completing their time with two firms, changes their mind based on that experience. It’s great validation that the structure of the internship is really valuable” says Houser, an executive territory officer for Markel Specialty who also serve as co-chair of the association’s Internship Committee. “When you meet one who came to the experience not completely convinced that they were interested in a career in surplus lines and they leave having accepted a position in the industry, it’s a huge win for all of us.
Apply now for 2023 internship opportunities
Applications for 2023 are now open and are due by Oct. 17, 2022. In addition to providing students with a salary, their housing costs and travel expenses are covered, and they receive a stipend to cover incidental expenses. The internship begins with a three-day orientation at WSIA’s Kansas City headquarters before each of them heads to their summer work locations. Many interns choose to cap their experience by attending the WSIA Annual Marketplace in the fall.
After the Internship, WSIA is committed to helping successful interns find employment in the surplus lines industry. Many interns receive job offers to join their host firms or other companies they interacted with soon after completing the program. While much of this success is a result of hard work by the individual interns, the structure of the internship also helps interns network for potential employment. The hands-on work emphasis and full access to all levels of the company mean interns have a wealth of opportunities to distinguish themselves.
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