Indiana State University Partners on State's Insurance Initiative

The university offers insurance education programs. Indiana is home to more than 1,900 insurance companies and 113,000 agents.

Source: Inside INdiana Business

Press Release

TERRE HAUTE, Ind. - The Mitch Daniels administration has launched a new initiative aimed at helping Indiana market itself better as an insurance hub, and Indiana State University was brought into the discussion as one of the top providers of insurance education - not only in Indiana, but nationwide.

Industry and government leaders visited Indiana State's campus Thursday (Oct. 6) to bring that initiative to Terre Haute and to learn more about what ISU has to offer the state's insurance sector and others wanting to set up shop or relocate here.

Mike Chrysler, director of insurance initiatives with the Indiana Economic Development Corporation, says there's no clear understanding of all the insurance resources in the state, but one thing that is clear is ISU's strengths and value to all in the insurance community.

"The program at Indiana State truly is one of the state's strongest insurance assets that we have. The quality of students that are coming out of the insurance program at Indiana State are something that is really helping the industry's reputation and the state's reputation," Chrysler said.

The goal of the state initiative is to save what is already a strong insurance industry, according to Roger Ronk, executive vice president of the Independent Insurance Agents of Indiana.

"Indiana is probably in the top three or four states in the country as far as the number of insurance companies that do business here. Our mission is not really to expand the number of companies that would do business here; it's really more in terms of economic development to bring employment here," Ronk said.

Mary Ann Boose, professor and coordinator of ISU's insurance and risk management program at ISU, said the university is doing its part to help compile a listing of the state's insurance-related resources, for use by those in Indiana and beyond.

"Indiana State is helping to partner with this study group to create a comprehensive list of current employers in our state so that there is one directory of related employment available to all potential employees, and also to go outside to others and say that we have counterparts in your industry that have a workforce that you can talk to. Come join us!" Boose said.

This gathering of information and visits to key insurance sites within the state will enable future insurance-related partnerships to be developed and will help the state in marketing itself better as an insurance hub and a place for growth and development of existing companies.

"The insurance industry is a big industry in our state, and it's traditionally been a very insurance-friendly environment," said John Kissling, chief deputy insurance commissioner for the Department of Insurance, State of Indiana, a governing and licensing body for more than 1,900 insurance companies and 113,000 agents.

"It's (Indiana) acted as almost a magnet for insurance companies wanting to do business in the state. Well, when they want to do business in the state, you've got to have people that can man those companies and that are skilled, trained people* and here, again, Indiana State, firsthand we've seen today, has the facilities to be able to train those people," Kissling said.

Fred McGarvey, vice president for external affairs for Prudential Financial certainly agrees.

"Indiana State has a well-rounded, very dynamic undergraduate insurance program, and I think that's a very strong point," McGarvey said. "It's a work in progress (ISU's program) and is being constantly looked at in terms of its relevancy to the marketplace. Certain things are in place, but they can change as the needs of the employers and the students go through change. I think that's smart. That's a smart, smart component. A lot of schools don't do that."

Source: Indiana State University