A new trend is emerging in college education: not getting one. As college enrollment continues to decline – down 15% from 2010 to 2021 and projected to drop by another 650,000 students annually by 20391 – this trend is giving the insurance industry a rare opportunity to redefine itself as a destination-of-choice for those intelligent, ambitious (but inexperienced) young professionals who are rethinking traditional career paths and entering the workforce early.
Today, a well-designed high school internship program isn’t just a nice thing to have. It’s a strategic imperative and a powerful way for agencies to identify high performers in their community, shape their development, and position insurance as a dynamic career choice.
Prove that insurance is more than policies and paperwork
Many students hear the word “insurance” and dismiss the entire industry as boring or old-fashioned. Others have no understanding of the industry at all. The truth is that insurance is a multifaceted industry that thrives on innovation, analysis, and human connection. An agency looking to develop an internship program must position insurance as ideally suited for anyone interested in careers in sales and marketing, finance and economics, or risk analysis and data science. Here are some ways to show prospective interns why insurance can be a rewarding career choice:
- Insurance is a noble profession. This industry helps individuals and businesses prepare for what could be some of their worst moments. Firm leaders can describe the special relationship they have with their clients and how providing education, guidance, and solutions is all part of a rewarding profession.
- Stability of the industry. Another attractive feature of the insurance industry for those seeking job security and a steady income is its stability during any economic condition. Long known for being “recession-proof,” insurance is an industry that often survives (even thrives) during economic downturns.
- Insurance supports communities. Insurance is known as one of the top industries whose employees volunteer their time. Many agencies are very involved with local charities and support community events as a team.
- Potential for career growth and income. Between predictable payments, long-term contracts, and auto-renewals, the insurance industry offers a consistent, reliable source of income with high earning potential.
To attract the best prospects early, it’s vital to show students that insurance is a cutting-edge, philanthropic, and fascinating industry. Once shown the varied opportunities across the industry, students become interested very quickly.
Create internships that deliver real value
Forget coffee runs and busywork. Today’s interns want substantive experience with defined goals and clear metrics for success. Agencies should offer hands-on projects that impact real business outcomes, structured mentorship that builds confidence and competence, and feedback loops to measure progress and drive growth.
Interns should leave with more than a line on their résumé – they should gain skills, relationships and, most importantly, an exciting and ambitious vision for their future in the industry. After the program ends, gather feedback from interns about their experience. Use their insights to make improvements and identify initiatives that were most impactful. Stay connected through professional networking sites and encourage them to become brand ambassadors for the agency. They just might have a talented peer who will become the next intern.
Benefit across the business from internships
Internships aren’t just acts of altruism – they’re smart business. Many insurance agencies have found their intern programs can:
- Support talent discovery. Internships can help businesses identify and evaluate potential hires by serving as a trial period. Interns who transition to full-time roles often ramp up faster than external candidates because they already understand the agency’s goals, culture, expectations, and workflows – and have built internal relationships.
- Tackle skills gaps. Marketing, IT, or other key functions may not need a full-time person or a large investment, so hiring an intern is a cost-effective solution. Younger generations tend to be savvier in areas such as technology or social media and can offer temporary support while gaining experience.
- Improve brand awareness. Many companies also encourage program participants to share their positive experiences on social media – increasing brand awareness to a broader talent pool. In addition, employing interns helps build connections with high schools, community colleges, and similar organizations, increasing visibility and attracting a wider talent pool.
- Motivate existing employees. Involve existing employees in mentoring and coaching interns to reinvigorate their passion for their work and help to develop their own leadership and management skills.
- Enhance productivity. Interns can contribute to projects and tasks, helping to achieve goals more quickly and adding energy to the workforce. They can also take on lower-level tasks, freeing up colleagues to address other priorities.
The next generation is looking for purpose, stability, and opportunity. A career in insurance offers all of these – without the burden of student debt. But to attract top talent, agencies must be proactive, bold, and strategic in targeting up-and-coming talent. Career fairs, school partnerships, the agency’s career page, or networking events are great places to identify potential interns. Even consider volunteering as a judge for Future Business Leaders of America (FBLA) and similar clubs as these organizations connect businesses with career-minded students who are more likely to be open to insurance internships. And there are many free internship guides to help you get started.
Build a program that reflects the complexity and vitality of the industry. Don’t just tell students how important the insurance industry is: show them firsthand that they can have a career that matters today – one that’s all about helping others prepare for tomorrow.
