BRANCHVILLE, N.J., Feb. 25, 2021 /PRNewswire/ -- Students from Middle Tennessee State University (MTSU) have been named this year's winners of Selective's College Competition. The annual contest allows future generations of insurance professionals to run virtual insurance agencies and experience many associated responsibilities and considerations.
During Selective's College Competition, eight teams participated in a month-long challenge that helped build their understanding of insurance carriers, customer service, staffing, sales, and financial management. Industry experts from Selective and independent insurance agencies mentored and guided them through the intricacies of running an insurance agency. The MTSU team ran the highest performing agency, making complex business decisions while overcoming sales hurdles and managing their financial solvency.
"Managing an insurance agency requires strategic decision making and precise execution. The MTSU team, and all of the other participating teams, demonstrated these skills in the Competition's simulated environment. By exposing students to the insurance industry's many facets, Selective's College Competition helps participants prepare for their future insurance careers," said Shadi Albert, Executive Vice President, Insurance Strategy and Business Development.
The MTSU team was comprised of five juniors and seniors with majors in Risk Management and Insurance (RMI), Actuarial Science, and other business-related areas. Michael Stansbury, Managing Partner, Elite Insurance Solutions in Franklin, TN, served as the team's mentor and helped them leverage their education and experiences to make informed business decisions about building market share, developing products and services, growing profit, promoting their firm, and contending with competitors.
"Selective's College Competition provides students with the most applied exposure and preparation for a career in insurance that I have encountered. The students from MTSU worked as a dedicated team to successfully apply their stated objectives throughout the Competition, and it was my honor to engage with this talented group of aspiring professionals. The future is so very bright with young minds such as these, training and developing their skills and expertise to join our industry," said Michael Stansbury, Managing Partner, Elite Insurance Solutions.
About Selective's College Competition
Selective's College Competition is an annual event that brings together teams of college students from around the country who are Risk Management, Insurance, Business, Actuarial Science, Sales, or Finance majors. Participating teams run a simulated agency using PriSim's Agency ChallengeTM computerized business solution and compete in weekly challenges that help build their insurance acumen about insurance carriers, customer service, staffing, sales, and financial management. They are guided and mentored by insurance professionals at local independent insurance agencies and Selective, and have the opportunity to gain insights, learn from experts, and build a network for future career opportunities. The team with the best performance at the end of the Competition is declared the winner. The Competition takes place during the month of February, commonly known as Insurance Careers Month, and showcases the dynamic and rewarding careers available in the insurance industry.
About Selective Insurance Group, Inc.
Selective Insurance Group, Inc. (NASDAQ: SIGI) is a holding company for ten property and casualty insurance companies rated "A" (Excellent) by AM Best. Through independent agents, the insurance companies offer standard and specialty insurance for commercial and personal risks and flood insurance through the National Flood Insurance Program's Write Your Own Program. Selective's unique position as both a leading insurance group and an employer of choice is recognized in a wide variety of awards and honors, including the Fortune 1000 and being named a Great Place to Work® in 2020. For more information about Selective, visit www.Selective.com.
SOURCE Selective Insurance Group, Inc.