Ferris State Risk Management and Insurance student, Brooke Baker, has been selected to attend the upcoming RIMS RiskWorld conference in San Diego as an Anita Benedetti Scholar. Only 20 students from across the US and Canada are selected for this program each year. Anita Benedetti scholars receive a travel stipend and participate in a unique conference program track which offers many unique educational and networking opportunities.
Brooke is a Risk Management and Insurance major, and Legal Studies minor. She is also president of Ferris State’s Upsilon chapter of Gamma Iota Sigma, and serves as the student representative on the Risk Management and Insurance program advisory board. She completed an internship with Meijer’s risk management department in 2023, and will be interning with Great American Insurance Group this coming summer.
After three straight academic years which ended rather quietly due to pandemic restrictions and ongoing concerns, it seems we’re finally back to “pre-Covid” conditions. In fact, spring 2023 was extraordinarily busy and eventful. Making up for “lost time,” I suppose. Previous posts have chronicled the conferences, events, and happenings from earlier in the spring. Today, I’d just like to highlight the last week of the spring semester.
The final Gamma Iota Sigma Upsilon Chapter meeting welcomed back recent alumna, Sarah Weesies. Sarah shared her experience as a new claims professional with Acuity Insurance, and answered questions from Gamma chapter members.
For several graduating seniors, this was also their last Gamma event at Ferris State.
Later in the week, Ferris State’s College of Business held its Student Excellence Awards Banquet to recognize COB students who exhibited excellence in their academics and extracurricular activities while attending Ferris State. Among the honorees were two Risk Management and Insurance seniors. Elise Rieman and Austin Sampson both received Student Excellence Awards. As their professor and advisor, it was my honor and privilege to introduce these stellar young people and present the award to each of them.
The culmination of the semester was a trip to Atlanta for the 2023 RIMS RiskWorld conference. I accompanied four students to the conference which was rife with education sessions, networking opportunities, marketplace exhibits, and also some fun and food. The journey began, as far too many do these days, with flight cancellations and frantic rebooking. Although our arrival in Atlanta was later than planned, the students were still able to get a few hours of sleep and then attend the opening keynote session on Monday morning.
After the opening keynote, there was so much more of RiskWorld to explore:
Unfortunately, the RiskWorld conference final day was cut short by an active shooter situation a few miles from the conference location. As a result, the closing keynote address was canceled, but everyone in the conference hall was safe and secure. The unexpected and unfortunate ending to the conference did provide some real-world risk management lessons. Later that evening, the Ferris State group made it home safe and sound, and with new connections, new knowledge, and new memories.
The spring 2023 semester has concluded. Seniors are graduating and preparing to begin careers. Personally, I’m looking forward to a summer to recharge and to begin imagining our adventures for 2023-24. It’s going to be fun.
Ferris State Risk Management and Insurance major Maggie VanDusen takes her turn sharing impressions of the 2023 RiskWorld conference in Atlanta:
I had the opportunity to attend RIMS 2023 and I am very grateful for it. The early mornings fueled with coffee were worth it. Having the ability to meet leading industry professionals and gaining professional insight helped me become even more excited to enter the industry this year. Whether it was attending the education sessions or talking to all the different professionals throughout the conference this experience was irreplaceable. A couple things that really stood out to me were the education session “How to Quantify (and Manage) Cyber Risk” along with “Understanding Autonomous Vehicle Risk and Insurance.” Both sessions really provided a lot of knowledge and insights that are especially prevalent in the technology world we are in today. I also enjoyed the student networking lunch where I was able to meet students in the Risk Management industry and talk about their experiences and aspirations for the future. This experience was a great way to finish up my senior year and welcome me into the risk industry. I will always remember these past few days in Atlanta with all the conversations, people, and events that occurred it truly was one for the history books. I can honestly say that having the ability to attend the conference is something I recommend to all.
Maggie VanDusen, Risk Management and Insurance Senior
Ferris State Risk Management and Insurance major Brooke Baker takes her turn sharing impressions of the 2023 RiskWorld conference in Atlanta:
The last few days at the RIMS Conference in Atlanta, GA was jam-packed! Even with a bit of a later start to our trip than planned, I was very thankful that we still got to go. The RIMS conference had many opportunities to attend sessions of your interest, meet professionals in the industry, and connect with other students. I enjoyed being able to walk around the marketplace to talk to people in the business, and even got to meet the President of our Fraternity Gamma Iota Sigma – Grace Grant! I also enjoyed getting to listen to sessions about autonomous vehicles, risk professional storytelling, and the entertainment industry. There was a student networking lunch held by RIMS, where I got to meet people too – specifically from the states of Missouri and Georgia! I have always thought traveling to be a good way to really get to know others you’re traveling with – and so I think our group got to grow closer through this experience. I value the many good conversations, laughs, and time spent with my other fellow students and wish them the best as they break out into the industry. Needless to say, it was a wonderful time – and I look forward to the next RIMS conference!
Brooke Baker, Risk Management and Insurance Sophomore
Ferris State Risk Management and Insurance major Hannah McGlocklin takes her turn sharing impressions of the 2019 RIMS conference in Boston:
I had the opportunity to go to the RIMS conference this year in Boston, Massachusetts and I had an amazing time. Since being back, it has been kind of crazy trying to absorb everything that I have learned and experienced this past week. I met so many different people from many different places and got a wonderful perspective on just how large the insurance industry truly is. The marketplace, which was full of vendors and companies, was a fantastic place to network and learn about what people do and how they impact the risk management and insurance industry. Along with the marketplace, I really enjoyed the educational sessions we were able to attend. I learned about a variation of topics from real estate to marijuana and sex trafficking and how all these subjects affect the insurance industry. Getting to know the other students that also attended as well as Dr. Brown was a positive as well. Networking is one of the best things about these types of conferences, and most of the time, the people in our closest professional circle can be just as important. There were many socials at the RIMS conference that allowed us to talk with many people that are a part of the industry. Not only were they held in the convention center but they were also different places in Boston. Even if the socializing and the educational sessions aren’t your thing, I would still highly recommend the experience of RIMS. Attending this trip was amazing, and even though you have to put money toward the cost, the return on your investment is worthwhile. In addition to the conference, having a chance to explore another city and area was awesome too. I tried new food, met new people, and took advantage of a lot of new opportunities, and for the price that I paid, it was an easy exchange. If the money to go on the trip is something that is holding you back, I would highly suggest you figure out how to make it happen, save over the summer, put a little bit away each month, or get a part time job while attending classes. The trip overall was an awesome experience and I look forward to RIMS Conferences in the future!
Hannah McGlocklin, Risk Management and Insurance Freshman
Ferris State Actuarial Science student Ashley Sowinski attended the RIMS conference in Boston last week, and she has shared the following reflection on her experience:
The lure of the RIMS 2019 conference began for me with the city of Boston. Actuarial Science is my major, so I figured this event would be mildly applicable at most. I didn’t have an idea of what type of career I wanted to develop. I did feel pigeonholed through my degree; I tried diversifying myself with a certificate and a minor, but I wanted to see what options I could have.
The trip to Boston started out strong, adventuring for a day downtown, but the true adventure began Sunday at the RIMS social. We went to a Dave and Busters-esque entertainment center that had a bowling alley on the top floor. I went to this alone because there were two socials: one for 21+ and the other was for those under 21. It was incredibly intimidating to attend this alone because this was my first experience in the professional world. I met so many faces. Faces I made social connections with, so the following day in the Marketplace, I could go find someone like Ian from Vermont and follow up with my business card (that I hadn’t had at the social.) Plus, there is so much free stuff, it’s practically a college student’s heaven. I came home with aluminum water bottles, pens, phone chargers, stress balls, multiple t-shirts, even an umbrella! There were raffles, and some companies were giving out gift cards too.
As far as intangibles are related, I can confidently say I gained so much more than physical trinkets. I highly recommend this event because of everything I learned; there were many applications of the field that I would never have imagined. I had no idea what opportunities could be opened to me, but after just meeting a few companies and socializing, I was invited to another conference and asked to apply for a job. This was so exhilarating because I never thought I would be someone to be sought out like that. The networking there is real, and there is no way to gauge the opportunities you could reveal in attending this conference. RIMS had such a diversity of both people and companies, it is difficult to explain. The environment speaks for itself, and I hope I have the option to attend this conference through my career in the future.
Bright and early Sunday morning, I depart with four Ferris State RMI students to attend the 2017 RIMS Annual Conference in Philadelphia, Pennsylvania. I confess that at this stage of my career – having endured 30 years of planes, trains, and automobiles – business travel has little appeal to me. Yet, I am enthused to accompany four students to this very large and impressive industry event.
It’s difficult to convey the vast scope of the RMI industry within a classroom. Some things just have to be experienced and witnessed firsthand. The immensity of the RIMS conference, with its thousands of attendees and vast array of exhibitors that includes many household names of the insurance industry, certainly drives home the point with students. The educational sessions show the students that there is much more for them to learn and a cornucopia of career opportunities awaiting them.
My first RIMS conference was 26 years ago, and I still learn something new every year. I am truly excited for the opportunities awaiting my four students. I know that they will meet new and interesting professionals at the conference events, learn of concepts that will spark their interest, generate new ideas for their careers and personal ambitions, and yes, have some fun.
It’s going to be a great week and I will relish the opportunity to watch my students take it all in. It may even make the planes, trains, and automobiles tedium of business travel worthwhile. Maybe.
The semester may be winding down but there is no shortage of activity and obligations for students and faculty alike. So it was particularly refreshing to spend a few mid-April days at the RIMS 2016 annual conference in San Diego with two Ferris State Risk Management and Insurance students, Melissa Klinger and James Freid. The conference and the venue were both exhilarating experiences just before the end-of-the-semester final push.
Melissa and James experienced the incredible scope of the conference and the industry itself, from the moment we strolled into the opening breakfast session and keynote speakers, to the vast exhibit hall, and the dozens of educational sessions. We had a very enlightening conversation with representatives from the captive insurance industry that was entirely an instance of serendipity as we sat down at a random lunch table one day.
I could go on and on about my impressions of the conference and the students’ conference experience, but I’d prefer to let them speak for themselves. So here are thoughts from Melissa and James on their RIMS 2016 experience:
Melissa Klinger: “This experience gave me a chance to get out of the classroom and my online classes to learn more about the risk management and insurance industry. There were over 300 different companies that attended this convention and had booths in the exhibit hall. Also, every day there were a number of different educational sessions. A few of the educational sessions that I was fortunate to be able to attend were: a construction industry session, ‘Risk Management in the Driver’s Seat: Navigating the World of Automated Vehicles,’ ‘We Didn’t Start the Fire: A Mock Property Claim,’ and a couple of other sessions. Each of theses sessions were different and gave a different view and look at the risk management industry. We were also able to go and see the three finalists of the Spencer-RIMS Risk Management Challenge present their case study on The LEGO Group. This gave James and I some things to think about and improve on for next year when our group wants to compete in this challenge again. This entire conference was a little overwhelming for a student going for the first time, but it was very beneficial and I definitely do not regret this amazing opportunity. I would have to say that my favorite parts of the conference other than the fact that it was in San Diego were the opening keynote speakers. I enjoyed Vinh Giang, the illusionist, the most because he used magic to explain how to overcome misdirection in life and in the business world. I cannot wait for RIMS 2017, especially since it will be closer to home in Philadelphia.”
James Freid: “The RIMS 2016 conference in San Diego blew me away. The conference made me excited to graduate and begin my career. At the conference I met many professionals in the Risk Management field and was able to get my name out. I was exposed to a side of the industry I did not realize existed based on textbook learning. The most interesting part of this area of the industry was the captive insurer’s area. Captives make up a much larger portion of the insurance industry. There were about ten different states attempting to attract captives to come to their respective states. It was really interesting having the opportunity to meet professionals working with captives to learn where this section of the industry fits into the industry as a whole.
The second half of the conference was focused on different sessions on risk management topics. My favorite session was about calculating loss reserves and how companies can forecast the overall cost of loss. These sessions allowed for students, like myself, to gain a glimpse into day-to-day functions of a risk management professional.
The conference as a whole was a great experience. Being able to go to such a prestigious event for risk management was an experience I am very grateful for. I feel that I am a step ahead in my vision for my career because of my ability to experience this event.”
I couldn’t have summed it up any better myself. Nice job Melissa and James.
The Risk and Insurance Management Society (RIMS) annual conference will be held in San Diego, California next week. I will be attending along with two students from the Ferris State Risk Management and Insurance academic program. As I type these words, I am watching snow flurries floating through the Michigan “spring” air. The palm trees of San Diego are looking mighty inviting right about now.
RIMS is one of (and perhaps) the largest gatherings of risk and insurance professionals. It provides never-ending opportunities for learning, networking, and collaboration. I always relish the opportunity to take students to this industry event and watch their reaction as they gain a new appreciation for the scope and impact that this industry has on business and society.
There will be more to say once we arrive at RIMS 2016 and begin to take in the keynote addresses, educational sessions, and exhibit hall offerings. I will endeavor to post a few blog post updates that will be disseminated through my other social media channels. I also intend to ask the students to provide their perspective on the event that will be shared here as well.
Until then, I’m trying to ignore the snow outside my window and just imagine the Pacific Ocean breeze and warm sunshine.
I don’t have a particular statistic to cite, but my fear is that we are seeing only the tip of the “data insecurity” iceberg. How many small breaches of far less secure databases are occurring for each one of these high-profile, high-stakes breaches? Even if there are not a multitude of smaller breaches occurring, the aforementioned highly visible breaches cast a pretty wide net. I have no indication that I or my family have been caught up in the federal government’s latest data breaches, but between my wife and I, we are receiving complimentary identity protection services as a result of links to all three of the aforementioned private sector hacks: Target, Home Depot, and Anthem.
Perhaps the larger question should be (spoken with utter exasperation), “What in blazes is going on?!”
The explosion of the internet in 1990s ushered in an era of exponential connectivity and information sharing, which is generally a good thing. Unfortunately, it seems apparent that the rapid expansion of connectivity has outpaced our ability to protect the valuable data that naturally results from all of this connectivity. In our rush to automate and connect everything (and to benefit from the incredible productivity and wealth growth that results) have we put the proverbial cart before the horse? Or is it just a fact of our new digital life that our vast connectivity of devices and databases means that data is going to be at risk to some extent no matter what we do?
No matter how these questions are answered, risk management and insurance are both going to play integral roles in the cyber risk world. It looks to me like we’re in the midst of a “Wild West” sort of era – and my concern is that there is likely to be a shoot-first-ask-questions-later approach to our data systems and our risk management processes. That tends to produce considerable collateral damage.
Ferris State Risk Management and Insurance Academics 