spencer education
London
The Spencer Educational Foundation was founded in 1979 and to this day remains
the premier organization funding the education of tomorrow’s risk management and
insurance leaders. THE SPENCER EDUCATIONAL FOUNDATION: Awards scholarships and
grants to students studying risk management, insurance, actuarial science and
business Facilitates internship opportunities Provides on and off campus
experiential learning opportunities through grants Funds development of risk
management/insurance curriculum Over the past 5 years, the amount awarded
through Spencer’s programs has grown by 43%. Spencer is a 501(c)(3) nonprofit
organization that relies solely on the contributions of generous individuals and
the industry. Spencer was named in honor of the late Robert S. Spencer, an
innovative leader and past president of RIMS, and an outspoken advocate for risk
management education. Since our founding, we have awarded over $8 million in
scholarships and over $5 million in grants to universities and professional
institutions impacting more than 60,000 students through our programs. We have
taken actionable measures to foster a diverse pipeline of talent into the
industry. The Spencer Educational Foundation believes diversity, equity, and
inclusion in the risk management and insurance industry is a business imperative
that only makes us stronger. Redesigned our scholarship application so that
applicants can self-select their race/ethnicity and gender identity, in order to
track (and measure) who exactly is receiving our scholarships. Changed our
scholarship application review process so that all identifying information
(name, demographics) is not visible during scoring, to avoid interference from
unconscious bias to the extent possible. Enabled the creation of 43 new
diversity scholarships (8 with the NYC Association of Insurance Women, 8 with
Arch Insurance, 3 with the Latin American Association of Insurance Agencies
(LAAIA), 6 with Argo Group, 2 with Beecher Carlson, 3 with Beckage, 2 with
Hylant, 2 with AF Group, 2 with Travelers, 5 with Allied World Assurance
Company, and 2 with Liberty Mutual), specifically earmarking funds to be awarded
to students who identify with a historically underrepresented group. This
funding represents a deliberate investment of over $180,000 in diverse talent.
Reaching out to MSIs and HBCUs to inform them of our Course Development grant
and other opportunities, to foster the creation of risk management classes and
programs at more educational institutions that serve historically
underrepresented groups. Working with other corporate partners and industry
groups to sponsor diversity scholarships and course development grants at
Minority-Serving Institutions. Awarded Course Development Grants to 2
Historically Black Colleges and Universities (HBCUs) to develop and launch their
first RMI course on campus: University of the District of Columbia and Fisk
University. Awarded Risk Manager on Campus Grants to 2 HBCUs: Johnson C. Smith
University and Lincoln University. Awarded grants to foster a diverse talent
pipeline, including support for: the National African American Insurance
Association’s Talent Development Competition; Appalachian State University’s D&I
in RMI Initiative; Indiana State University’s Recruitment and Career Awareness
Diversity Program; Howard University's 2022 FIRM Symposium; and others. Funded
RMI curriculum development and experiential learning opportunities at
Hispanic-Serving Institutions (HSIs) including Northern Arizona University, Cal
State University Fullerton, Cal State University Northridge, Mercy College, and
University of Houston Downton. Met with other industry organizations to learn
how we can collaborate on DE&I initiatives, including the WSIA Diversity
Foundation, IICF, Gamma Iota Sigma , LAAIA, NAAIA, HBCU Impact, Insurance
Society of Philadelphia (ISOP), CIAB, Sexuality and Gender Alliance of Actuaries
(SAGAA), Organization of Latino Actuaries (OLA), International Association of
Black Actuaries (IABA), Chinese American Insurance Association, and others.
