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InVEST 101

InVEST 101 Webinar for Insurance Professionals Because this webinar is being recorded, we will not be answering questions sent through the chat box. At the end of this webinar you will be given contact information you may forward any questions to. InVEST 101. What is InVEST?.

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InVEST 101

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  1. InVEST 101 Webinar for Insurance Professionals Because this webinar is being recorded, we will not be answering questions sent through the chat box. At the end of this webinar you will be given contact information you may forward any questions to. InVEST 101

  2. What is InVEST? InVEST is a 501(c)(3) non-profit educational trust dedicated to improving insurance literacy in students and attracting new talent to the industry.

  3. InVEST History • InVEST started in 1970 in Hollywood, CA to improve insurance knowledge of graduating high school seniors. • It has now developed into a career training program to bring more young people into the insurance industry.

  4. Consider this… • The millennial generation will be the largest generation yet with more than 100 million people. • Young people perceive the insurance industry as “old in general” (63%) and not innovative (53%.) • 55% of young people would consider a career in insurance after learning more about the opportunities. Source: Insurity and Microsoft Corp

  5. The Silver Tsunami • 70 million baby boomers will retire in the next 15 years, which will cost some companies more than half of their senior leaders • Only 15 million skilled workers will replace them Source: Deloitte Consulting LLP

  6. The new workforce will be diverse • Women-led In college today, 140 women for every 100 men • More Hispanic By 2045 the population will be 25% Hispanic Source: Deloitte Consulting LLP

  7. InVEST Can Help • It works! • It is attractive to educators • It already exists Independent agents need to attract the best talent. InVEST champions are not waiting until their offices are empty to find new talent– they are acting now.

  8. Your role • InVEST Champion • School Liaison • Guest speakers • Field trips/job shadows • Mock interviews • Internships

  9. InVEST is Flexible InVEST is comprised of three main sections: • Auto/Home Workbook • Mock Agency Preparation • Mock Agency Simulation Schools can choose to teach InVEST for two weeks, or an entire year!

  10. InVEST Makes it Easy • 12 chapters • Sample teacher lesson plans • Discussion questions • Short quizzes

  11. InVEST Textbook • Introduction to Insurance • Managing Risk • Issues in Automobile Insurance • The Personal Auto Policy • Marketing and Selling Auto Insurance • Determining the Price of Auto Insurance • Insurance Agency Operations • A Career in Insurance • Property Insurance for Homeowners and Renters • Homeowners Liability Insurance • Life and Health • Businessowners Policy

  12. Mock Agency Preparation Students build an agency from the ground up, including: • Creating the name, logo, tag line, letterhead, etc. • Apply for a corporate loan and open a corporate bank account • Pay rent, electricity, etc. • Create marketing materials to sell their agency to prospects • Learn how to use rating software and process auto insurance applications. *Students do not actually start real agencies or sell insurance, they simply “act” like they are and go through the same motions.

  13. Mock Agency Simulation • Solicit new clients using marketing materials • Meet potential clients and fill out forms needed to approve an insurance policy • Use rating software to approve potential clients

  14. Scholarships • Over $400,000 in scholarships given to InVEST graduates • $48,000 to 51 students in 2011 • 2012 Deadline is in April 13, 2012

  15. Student Websitewww.learninsurance.org

  16. InVEST Websitewww.investprogram.org

  17. Resources Galore! • What Can InVEST Do for Me? A Student Perspective (DVD) • How Does InVEST Fuel the Future? A Teachers Perspective (DVD) • InVEST Certificates of Participation • Guides & Planning Tools • Speaker Presentation Kit: Tools of the Trade  • Internship Guide • Job Shadow Planning Tools • Miscellaneous  • PowerPoint Presentations  • Free Webinars  • InVEST Portal • Student Workbooks and Teacher Manuals  • SilverPlume Rating Software • Community College Curriculum  • DORIS  • Sample Lesson Plans • Big “I” Virtual University Subscription  • AICPCU/IIA Books  • IA Magazine Subscription   • Seats to Fill? Brochure • InVEST: Classroom to Career Brochure • Whatever Your Passion Brochure • A World of Opportunity: Careers in Insurance (DVD)

  18. Thanks for attending! Jennifer Robinson Jennifer.robinson@iiaba.net or 1-800-221-7917 www.investprogram.org www.learninsurance.org

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