Le Moyne College and the member companies of Utica National Insurance Group have joined to launch a student scholarship known as the Utica National Group Scholar Fund. The partnership was created to provide people from various racial and ethnic backgrounds, women and PELL eligible students a career path into the insurance and risk management business by providing financial assistance to student applicants in the U.S.
“This partnership makes sense on many different levels,” said Madden School of Business Dean Jim Joseph ‘83. “First and foremost, it will benefit current and prospective students at Le Moyne by assisting them financially in getting a world-class Jesuit education that will prepare them to enter the risk management and insurance industry. Second, by partnering with Utica National, we are solidifying a relationship that is already strong and is mutually beneficial to both organizations. And finally, it will continue to build the McNeil Academy into an important employee pipeline for the numerous insurance firms that call upstate New York home.”
The $250,000 grant will endow one educational scholarship per semester to assist women and individuals from various racial and ethnic backgrounds who want to pursue a career in insurance. The scholarship will be distributed in the sum of $5,000 per semester and will be awarded to people from various racial and ethnic backgrounds, women and PELL eligible students. The attached graphic illustrates the partnership.
“When leaders in business and academia partner to establish scholarship opportunities for women and individuals from various racial and ethnic backgrounds to pursue careers in insurance, we can make quick gains in workplace diversity that improve the customer value insurance carriers offer their policyholders,” said Kristen Martin, president and COO of Utica National Insurance Group. “Employing a diverse group of people with different views and experiences, makes us a stronger company and helps us better serve our customers each day.”
A Scholarship Oversight Committee will be created to administer the scholarship awards. The committee will consist of donors, alumni industry executives and Le Moyne faculty within the Risk Management and Insurance discipline. Those interested in learning more can email Frank Marullo, director of the McNeil Academy, at email@example.com.
Utica National Insurance Group is a nationally recognized group of insurers, providing personal and commercial insurance products and services. The member companies of Utica National sell their products through more than 2,500 independent insurance agents and employ over 1,200 people countrywide. The lead insurance company of the group, Utica Mutual Insurance Company, was founded in 1914 and is headquartered in New Hartford, N.Y.