The Captive Insurance Companies Association (CICA) has partnered with the International Center for Captive Insurance Education (ICCIE) to introduce a partner programme to support the career development and educational needs of captive professionals.
"CICA recognizes that career growth is a top priority for many young insurance professionals, with some studies citing 62 percent saying it's a deciding factor on the industry they choose," said CICA president Dan Towle.
The partnership will help recent ICCIE students who have earned their Associate in Captive Insurance (ACI) to advance their career in captive insurance.
Retroactive to January 2018, CICA will be offering a one-year free membership to new ACI graduates.
"This will grant them all of our membership benefits, including allowing them to participate in our mentorship program, which can be a key component to career advancement," Towle added.
Mitch Cantor, ICCIE executive director, said "Giving ACIs a free year of CICA membership is a great fit. It allows them access to CICA's mentorship program and related opportunities that nicely complement their work to maintain their ACIs. It also allows them to further develop their professional network with other CICA members, which is important in advancing one's career."
A captive professional who earns his or her ACI must complete 12 credits every three years to maintain the designation.
CICA's international conference has nearly 30 hours of education spread across various sessions - which provide a source for earning continuing education credits toward maintaining the ACI certification.
Yubei Lu, financial examiner, Utah Captive Insurance Division, said: "As a recent ACI graduate, I am excited to be able to get a free CICA membership, and to be able to network with other members. “I am also very interested in the mentorship program, which will help me further my career."
This is not the first initiative of CICA's towards captive career development. CICA also announced the CICA Mentorship Program earlier in the year, and has partnered with higher education institutions such as its programme with the Davey Risk Management & Insurance Program at Butler University.
CICA, ICCIE, Talent, Captive insurance, North America