Maximize the Industry’s Future Talent in Your Firm
Studies show that internships are the insurance brokerage industry’s most successful tool in the recruitment of college students. In light of that, part of The Council Foundation’s mission is to bring fresh, diverse talent into the brokerage sector by way of internships with Council member firms. Students who demonstrate excellence in their internship and the ability and desire to succeed at your firm have the opportunity to be nominated by you for a $5,000 scholarship.
The Scholarship Program & COVID-19
A recent College Reaction poll found that three in four college students who secured internships or post-graduate work have had to change those plans because of the coronavirus pandemic. In light of this, we believe our scholarship program is needed more than ever – and we want to make sure students across the country have the opportunity to work, learn and experience the positive role our industry is playing in helping businesses and clients during this unprecedented time.
PLEASE NOTE – due to COVID-19, the eligibility and nomination process has changed to better accommodate our members’ evolving summer workplace plans.
In awarding the scholarships, the selection committee will look for candidates who have the potential to excel as leaders and contributors in the commercial insurance brokerage business sector – and at your firm.
Eligibility to participate in the scholarship program is a donation to The Council Foundation. Member firms have the opportunity to fulfill this requirement during their annual dues renewal – as well as prior to the launch of the scholarship program. If you have questions or want to inquire about your firm’s eligibility status, contact Brittany Lindberg.
The Council has awarded over 500 scholarships since 2006 (and has raised $2.5 million).
Are you a student interested in interning? We’d love to have you. Our member firms are located all over the globe.
2020 Scholarship Program & Eligibility
The Council has awarded 50 scholarships in 2020. Participating member firms nominated their best undergraduate interns using the process and criteria outlined below. A Scholarship Committee reviewed all applications and made final decisions heading into the academic year. View the 2020-2021 recipients here.
Scholarship Recipient Eligibility Criteria:
- Enrolled full-time in a bachelor’s or associates degree program at an accredited education institution
- Entering into junior or senior year
- In good academic standing with university (minimum of a 2.0 GPA)
- Nominated by a CIAB member firm
- Completion of The Council’s Aspiring Broker Challenge (July 17-20)
The Council’s Aspiring Broker Challenge
This summer, and for the first time ever, The Council Foundation powered a tuition-free virtual business simulation for the select interns who were nominated for a Council Foundation scholarship. The simulation teaches the business acumen required to make great business decisions, and was specifically written for the insurance brokerage industry. The two-day intensive program took place in July.
Please note this simulation is designed for student interns that you are budgeting/planning to hire post-graduation or post internship.
The Council Foundation’s goal is to help you attract and recruit the next generation of talent back to your business. Your help in the nomination process is critical to our success!
Recipient Evaluation Criteria:
- Keen interest in insurance advisory
- Leadership potential
- Entrepreneurial spirit
- Academic merit
- Attention to detail
An application will be deemed complete if it includes each of the following:
- Completed on-line Scholarship Application Form, including essay question
- Letter of Nomination from a CIAB member firm, indicating why firm believes candidate should be awarded scholarship
- Copy of current college transcript
Applications missing any of the above documentation will not be considered for a scholarship.
2020 Key Dates (as a guide for 2021)
- June 26: Online Application Opens
- Aug. 5: Application Submission Deadline
- Aug. 10 – 14: Application Review
- Aug. 19: Council Foundation Scholars Notified
- Aug. 26: Council Foundation Scholarship Award Disbursement
Submission of Application:
Completed applications will be submitted online with all required documents and video according to the timeline above.
The Scholarship Selection Committee will focus on the following items, not in any specific order, during the review of applications:
- Applicant’s emphasis on the brokerage sector of the insurance business
- Applicant’s knowledge of the role of the insurance broker and the importance of the distribution channel
- Applicant’s overall creativity and effort taken with scholarship application submission
- Applicant’s work experience and culture fit with The Council member firm they employed with
- Applicant’s potential to work in insurance brokerage (more specifically at your firm) immediately following graduation
- Applicant’s enthusiasm regarding a lifetime career in insurance brokerage
- Applicant’s understanding of The Council’s role in the insurance industry
Contact Brittany Thune Lindberg, Vice President, Development, firstname.lastname@example.org or 202.662.4304 with any questions.