Isenberg Insurance Academy Bridges Industry, Academia

The insurance industry is evolving due to global disruptions, new technologies, and advancements in analytics. Collaboration between industry and academia is crucial to develop the next generation of insurance professionals.

The Isenberg Insurance Academy (IIA) is a partnership between Isenberg faculty and industry professionals. Launched last fall, the initiative fosters educational and professional alliances within the insurance sector, promoting innovation and excellence in training and practice. The IIA has strong backing from Isenberg administration and key industry partners such as Arbella, Travelers, Liberty Mutual, and Hanover, and is represented by Jim Hyatt, Esther Chang, Maura Quinn, and Michael Lewis.

Co-directed by Sara Smiarowski (Finance) and Carey Baldwin (OIM), the IIA has been in development since summer 2022. In its pilot year, industry sponsors funded four student fellowships and an insurance case competition. Fellows Susan Ubogu (OIM), Melany Rodriguez (OIM), Riley Linden (Finance), and Ruchi Gupta (Finance) were instrumental in planning the spring case competition, involving research, developing case prompts, and overseeing the event.

The spring 2023 competition brought together Isenberg students and industry professionals. Students explored various career paths and topics such as underwriting, data engineering, data science, risk management, corporate strategy, and financial modeling. They researched and presented solutions to the impacts of climate change on the insurance industry, with industry representatives serving as judges, panelists, and recruiters. The event also awarded cash prizes to the top three teams.

During the 2023-2024 launch year, the IIA formed a student club that recruited 45 new members. Students managed member activities, social events, a speaker series, and publicity. Students also participated in the Institute for Quantitative Analytics, focusing on predictive modeling with Python in projects like insurance claims prediction, fraud detection, and customer retention analysis. Collaboration with industry specialists provided students with valuable insights into real-world applications.

The IIA hosted a holiday networking event and a spring banquet at the UMass Club in Boston, attended by over 70 individuals, including industry professionals, students, faculty, and alumni. These events fostered enthusiasm for future collaborations and new connections.

IIA CEO Susan Ubogu, 2022-2023 Insurance Academy Fellow, reflected on the academy’s journey, highlighting the growth in membership and the successful execution of initiatives such as the insurance case competition, new leadership, speaker series, and the launch of the Institute for Quantitative Analytics. Ubogu also announced Eli Grehn (OIM, 2025) as the new CEO for the 2023-2024 academic year.

Looking ahead, partners and faculty sponsors are committed to the IIA’s success. They believe that collaboration between Isenberg students and early-career insurance professionals is essential for meaningful learning outcomes. Through real-world projects, students will develop relevant knowledge and competencies, fostering adaptability for the evolving insurance industry.

To learn more or get involved with the IIA, please email insuranceacademy@isenberg.umass.edu. You can also find us on LinkedIn and Instagram.