The Long Island Insurance Education Foundation (LIIEF) is dedicated to strengthening and growing the insurance industry through the development of an Insurance and Risk Management curriculum and degree program at Stony Brook University. This effort, which includes the establishment of an Endowed Chair in Insurance and Risk Management, is being undertaken with the goals of attracting the next generation of insurance professionals, providing them with the rigorous academic training and practical tools they need to succeed, and, ultimately, introducing highly-qualified young professionals into the field.
There is a critical shortage of candidates entering the insurance and risk management industries. Studies show that 25-30% of insurance professionals are set to retire in the next few years and only 4% of millennials have expressed an interest in insurance careers. We believe that this disconnect is directly related to the lack of insurance courses available at colleges and universities. In fact, not a single college or university on Long Island offers any degree programs in insurance or risk management.
With this in mind, discussions began with Stony Brook University to explore ways to make insurance and risk management a focus within the College of Business. Out of these efforts, the Long Island Insurance Education Foundation (formerly the Independent Agents and Brokers Foundation) was created. LIIEF is an independent, 501(c)(3) non-profit, with the purpose of raising the $1.5 million necessary to make the Endowed Chair in Insurance and Risk Management a reality. In the first year, more than $200,000 in funding was received.
In order to grow the endowment to $1.5 million, LIIEF is seeking monetary donations, multi-year pledges, corporate and foundation grants, employee matching gifts, and more. There are many ways to help. Establishing an Endowed Chair of Insurance and Risk Management at Stony Brook presents a unique opportunity for LIIEF, and all of its supporters, to make a lasting difference for the agents, companies, adjustors, auditors, and every other related professional who will benefit from this investment in the future of the insurance industry.
We hope that you will join us in our efforts. For more information about making a contribution, please click here.
