CICA Narrows Down Captive Insurance Essay Contest Finalists

In a recent statement, the Captive Insurance Companies Association (CICA) revealed the names of the three finalist teams competing in its Captive Insurance Solutions for Today’s Risk Management Challenges College Student Essay Contest, sponsored by Hylant Global Captive Solutions (Hylant GCS).

The following finalist teams from Butler University, Middle Tennessee State University, and Temple University will compete for cash prizes and present at the CICA 2024 International Conference.

• Harrison White and Bailey Sims, Butler University 
• Brian Dunn and Rose Gendy, Middle Tennessee State University 
• Gracie Law and Sofia Davis, Temple University 

CICA said the two-person teams were asked to describe how and why a captive insurance company could be used as a cost-effective means of alternative risk financing for new and growing risk challenges.

More specifically, according to the CICA website, the essay contest invites students to select one of three case study topics for the competition. Students are asked to demonstrate how to establish a captive for their specific case study, select policy options, determine underwriting, pricing, and more. Case studies focus on developing strategies to help fictional organizations in real-world situations develop captive insurance solutions.

Read more about this year's three case studies (Vane University, LoveIt! Rentals, and Beta Airlines) on the CICA website.

"Each year it's wonderful to see the sparks our essay contest ignites. Students consistently tell us that participating helped them see how innovative and challenging the captive insurance industry is," said CICA President Dan Towle.

He continued, "We give them an inside view and they are seeing first-hand the increasing opportunities for using captive insurance and for careers that grow with the industry."

The three finalist teams will now work with mentors from Hylant GCS to revise and enhance their essays, which will be judged again to determine first, second, and third place.

Anne Marie Towle, CEO, global risk and captive solutions, Hylant, and essay contest sponsor, said, "The captive industry is growing rapidly. We need to engage more students by showing them the diversity of skills and creativity required to create captive insurance solutions for today's risk management challenges."

Winners will be announced at the Monday morning general session during the CICA International Conference March 10–12 in Scottsdale, Arizona. In addition to cash prizes, the finalist teams will present their essays during an education session at the CICA conference and have them published.

Registration information and full conference details are on the CICA website. 

Pictured above, Saint Mary's University seniors Olivia Faulkner and Zane Smith received first-place honors in the 2022–2023 CICA College Student Essay Contest, Captive Insurance Solutions for Today's Risk Management Challenges. (Photo is courtesy of CICA.)