INDIANAPOLIS – (Aug. 1, 2017) – MJ Insurance, one of the nation’s largest privately-held insurance agencies with more than five decades of success, announces the launch of MJ Student-Run Insurance Company, Ltd. at Butler University, commencing today, Aug. 1.
Butler’s Lacy School of Business originated the insurance company to provide students with real-world experience in all facets of running an insurance company and will prepare them for an industry that anticipates 400,000 job openings by 2020. Students in the program will learn how to write insurance policies, explore coverage terms, how to finance the company and other business tactical items.
Colin MacNab, executive vice president of property & casualty at MJ Insurance who serves on the Davey Program board at the university, served as a mentor for students in the Risk Management & Insurance program at Butler. “The experience these undergrads will gain from this student-run operation are unparalleled, allowing students to have a hands-on learning experience. Students will gain technical experience that is normally acquired through an entry-level position. With this program, students will have mastered the knowledge and expertise required for a position that typically needs 1-3 years of real-world experience,” he explained.
Michaela Neal, risk transfer specialist trainee and former intern at MJ Insurance, recently graduated from Butler University and served as a key participant in the student-run captive program. During this time, she was able to create and update insurance financial reports, implement loss control techniques and underwrite real loss exposures. “Due to the knowledge and expertise gained during her undergrad studies in the Davey Risk Management & Insurance program along with participation in the student-run captive, Michaela quickly advanced at MJ,” MacNab said.
“With almost a quarter of the insurance industry set to retire by 2022, it’s important to educate, mentor and engage younger generations,” said Jon Loftin, president and COO of MJ Insurance. “We’re excited to partner with Butler on this experiential learning program where students will gain a deeper understanding of the industry and all of the career paths it may provide.”
MJ Insurance is a property-casualty and employee benefits agency that, since 1964, has grown from a two-person start-up to an agency with more than 140 employees in both Phoenix and Indianapolis.
MJ Insurance specializes in a diverse selection of unique service lines including construction, energy, transportation, real estate, manufacturing, sororities and mining. MJ also offers complete employee benefits programs including major medical, group disability, group life and onsite employer clinics. MJ Insurance currently has clients in 16 countries and in every U.S. state.
ABOUT MJ INSURANCE
Indianapolis-based MJ Insurance exists to inspire the success, fulfillment and wellbeing of each person it serves: associates and their families, business partners, clients and the community. MJ Insurance is a leading risk management and benefits consulting agency specializing in various commercial sectors: construction, manufacturing, sororities, mining/energy, farm to fork, transportation, metals as well as a complete suite of comprehensive employee benefit programs and services. Fifty years after its founding, MJ Insurance continues to expand through growth, service and leadership. Additional information may be found at www.mjinsurance.com.