Stay ahead in the RMI landscape with expert insights, practical tips, and innovative solutions designed to help you elevate your career and drive organizational success.
Eric Czerwin
The coming retirement wave is the single largest talent disruptor facing risk management and insurance (RMI) today. Half of the current insurance workforce will retire by....
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The Retirement Wave: Filling Your Leadership Pipeline to Shape the Future of Insurance
By Eric CzerwinThe coming retirement wave is the single largest talent disruptor facing risk management and insurance (RMI) today. Half of the current insurance workforce will retire by 2035, leaving a gap of over 400,000 positions, according to a report from the U.S. Bureau of Labor Statistics. The RMI landscape has often adapted well to change, yet the next nine years represent both a challenge and a defining opportunity.
As we kick off 2026, learning and development (L&D) and talent management leaders can bring renewed momentum in facing the growing talent shortage. This is a chance to invest in your people, strengthen your leadership pipeline, and shape what the future of insurance and risk management will look like.
Explore how professionals in the Property & Casualty market believe the looming retirement wave could affect critical knowledge and leadership readiness, as well as present opportunities for growth and renewal across the RMI space.
What impact will the retirement wave have on the insurance landscape? The numbers tell a compelling story: 73% of RMI professionals believe the loss of institutional knowledge will be the most significant impact of the retirement wave, according to a survey conducted by The Institutes Enterprise Research team. This knowledge gap isn't limited to technical expertise: It extends to leadership skills, strategic decision-making, and mentorship. Left unaddressed, this loss of experience can quietly weaken your organization’s leadership pipeline. However, with the right professional development strategy, it can also open the door to developing and defining the next generation of leaders.
As seasoned professionals leave, insurers need to ensure key insights and processes don’t leave with them. One effective approach is building a structured knowledge-transfer system that includes:
By developing your leadership pipeline now, you create stability while preparing for what’s next.
Following that, technical roles that form the backbone of insurance operations are also at risk. 60% of surveyed RMI professionals expect shortages in underwriting, claims, and other technical skills. Additionally, 43% anticipate these roles will decline in the coming years. But why?
Many organizations expect to fill technical role gaps through AI and automation. As a result, those who learn how AI and machine learning is transforming insurer operations and can pair that knowledge with AI expertise will be in high demand. Still, the strongest organizations will focus on developing technically skilled talent who are also ready to step into leadership roles. This balanced approach supports both operational excellence and long-term leadership growth.
However, within this disruption lies opportunity. Organizations that invest in professional development now can emerge with a workforce that is more confident, more skilled, and more resilient than ever.
For L&D leaders who have been looking for a reason to expand their professional and leadership development programs, now is the time. Continuous learning is one of the most effective ways to address the talent shortage, as it allows professionals at all levels to grow their expertise and remain resilient. But it only works when programs are intentional, well-structured, and aligned with business goals. Consider supporting employees through clear career pathways that equip them with in-demand technical and leadership skills. This is where trusted, RMI-specific education becomes invaluable.
For example, The Institutes Knowledge Group offers a wide range of online courses and Institutes Designations designed to help build foundational, technical, and leadership skills to stay ahead of evolving RMI trends. Each program is backed by The Institutes’ more than 115 years of experience as a not-for-profit, committed to educating, elevating, and connecting those interested in risk management and insurance to create a more informed, resilient world.
As you strengthen internal talent development, your hiring practices should also evolve. 58% survey respondents expect entry-level positions to be filled from outside the current RMI job market. This shift will require organizations to move beyond traditional competency-and-experience-based recruiting models toward skills-based hiring approaches.
Not only will this expand the pool of potential candidates, it will also likely bring fresh perspectives into your organization. Those who haven’t worked in risk management and insurance before but have transferable soft skills—like customer service and critical thinking—will be able to grow their knowledge in entry-level positions and can bring innovative thinking to current business models. The key is creating onboarding and mentorship programs that effectively integrate these new hires.
Don’t forget: The retirement wave is already underway. But with the right strategy, it can unlock a new era of risk management and insurance that builds on the work previous generations have already started. Early- and mid-career professionals will find new opportunities to advance, while organizations can intentionally address the skills gap and invest in future leaders.
Want to dive deeper into the data behind these trends? Take a look at our benchmarking whitepaper for insights that can guide your strategic planning.
Eric Czerwin is Director of Sales for The Institutes Knowledge Group. With a background in risk management and underwriting, he bridges strategic insight with practical execution while fostering long-term relationships. His focus is on empowering carrier workforces with enhanced skills and insurance field knowledge through organizational learning and development initiatives.
Building Resilience: Risk Management Frameworks for Today’s Dynamic Environment
By Skills Edge TeamThe risk management and insurance (RMI) landscape is shifting rapidly, and many professionals find themselves caught between reacting to immediate threats and preparing for what comes next. The good news is that structured, forward-thinking risk management frameworks can change that equation, empowering you and your organization to predict and prevent exposures rather than being purely reactive.
Let's explore how this approach can help you navigate today’s complex challenges with clarity and confidence.
At its core, a risk management framework provides a structured approach for identifying, assessing, and mitigating risks. Rather than reacting to isolated events, frameworks help RMI leaders evaluate interconnected exposures, prioritize decisions, and consistently manage risk over time.
This approach is essential because traditional, siloed responses are no longer sufficient. Organizations today face a growing mix of cyber threats, natural disasters, and human-caused catastrophes. According to the Insurance Information Institute, global insured losses from natural catastrophes reached $145 billion in 2024, while the potential total loss from cybercrime climbed to $16.6 billion, up from $12.5 billion just one year prior. These types of exposures require a unified, strategic approach.
When threats intersect across operational, financial, regulatory, and human areas, you need a process that accounts for all these layers simultaneously. A well-designed framework moves RMI teams from short-term fixes to long-term resilience by helping them address these four key points:
These capabilities are central to effective risk management strategies and essential for those seeking clarity on how to manage emerging risk in a dynamic environment.
Backed by more than 115 years of experience as a not-for-profit, The Institutes are committed to educating, elevating, and connecting people and ideas to create a more informed, resilient world—especially in today’s ever-changing risk landscape.
The development of The Institutes Designations’ Associate in Cyber Risk Management (ACRM™) and the Associate in Catastrophe Risk and Resiliency (ACRR™) over the past year reflects this ongoing commitment. Both programs address the distinct challenges posed by cyber threats and catastrophe risks while remaining grounded in core risk management principles.
While the risks may differ, the goal is the same: to equip RMI learners with frameworks that last. By focusing on structured decision-making, risk assessment, and resilience, these programs help learners apply skills confidently, regardless of how threats change.
Although cyber incidents can ripple across operations, reputation, compliance, and financial stability, some might still see them as purely technical issues that are handled by IT. In addition, 87% of decision makers say their company lacks adequate protection against cyber-attacks, according to a 2024 global survey by Munich Re.
ACRM helps to address this gap. Now past its one-year milestone, the designation focuses on building durable skills that remain relevant even as cyber threats evolve. It emphasizes enterprise-wide frameworks that help learners evaluate vulnerabilities, understand coverage options, and address the human behaviors that often contribute to cyber incidents.
As recent learners explain:
“Cyber risk is ever-evolving and continues to be one of the fastest-growing exposures for organizations of all sizes. The Institutes Designations’ Associate in Cyber Risk Management™ (ACRM™) provided a deeper understanding of how to identify, manage, and monitor the rapidly changing threat landscape that organizations face today.”
- Nick Talarico, ACRM, AAI
“ From managing and assessing cyber risks to understanding holistic risk governance, leveraging data, and building successful compliance strategies, this program provided insights that are valuable across industries. I would definitely recommend ACRM to anyone interested in learning more about cyber risk management and becoming a more cyber-resilient employee.”
- Heather MacIver, CPCU, ACRM, AIS
Students gain skills that support collaboration across IT, leadership, and risk functions, ultimately strengthening cyber resilience over time.
Catastrophe risks are also changing in scale and complexity. Natural disasters such as floods and wildfires increasingly intersect with human-caused risks like geopolitical instability and supply chain disruption. Managing these exposures requires a holistic view that goes beyond insurance placement alone.
The recently released ACRR program helps address this reality. ACRR applies risk management frameworks to both natural and human-caused catastrophes, helping learners anticipate impacts, evaluate financial consequences, and strengthen organizational and community resilience.
After completing ACRR, RMI professionals will be better prepared to:
Collectively, these skills support more informed strategic planning and risk management decisions as catastrophe risks grow more complex and interconnected.
Lastly, as cyber threats intensify and catastrophe exposures expand, one truth remains clear: structured risk management frameworks will remain central to effective decision-making. Education that combines evergreen principles with emerging insights ensures you and your team stay prepared, not surprised.
The risk landscape has changed, but so have the tools available to manage it. By embracing frameworks grounded in proven principles and designed for today's challenges, organizations can move forward with greater strategy and resilience.
Ready to strengthen your risk management approach? Try the free sample courses to see how ACRM and ACRR can help build your skills and prepare your community for emerging risks. The next step toward greater resilience starts today.
Our Skills Edge Team brings together insurance researchers and subject matter experts dedicated to advancing knowledge in risk management and insurance. Backed by more than 115 years of experience as a not-for-profit, the team at The Institutes is committed to educating, elevating, and connecting people and ideas to create a more informed, resilient world.
How to Streamline Insurance Continuing Education (CE) Across Your Organization: A Guide for Corporate Leaders
By Hunter FausnachtSupporting your team as they complete their continuing education (CE) requirements is key to a strong learning and development program. For most licensed professionals in risk management and insurance, finding time to fit CE into their busy schedules can be a challenge. However, one of the best ways to support your licensed team members is to make earning their CE as convenient and efficient as possible—and that starts with choosing the right insurance continuing education solution.
Insurance continuing education is a type of professional development that’s tailored to licensed insurance producers and adjusters. It's required for anyone who has a state-issued insurance license, as most need to renew their license every two years. This requirement ensures that licensed professionals complete approved courses and other programming to remain competent, informed, and compliant as the RMI landscape evolves.
While CE is often curated for license types like Property and Casualty and Life and Health, it also deepens licensed professionals’ understanding of risk management, regulatory changes, and more. A comprehensive CE solution should make it easy for individuals to access the right courses for their license type and complete all their CE requirements at a pace that works best for them.
When evaluating online insurance continuing education options for your licensed professionals, be sure you fully understand what you're looking for to ensure the solution you choose truly supports their growth and serves your organization. Here are some factors to consider when looking for the right CE solution for your organization:
On-demand CE courses provide the freedom to learn anywhere at any time, whether it’s between meetings, on their commute, or during dedicated focus time. Look for CE solutions that:
Flexibility like this can reduce stress and reinforce knowledge retention, helping your team gain practical understanding rather than just checking off a requirement.
Live webinars are a popular format for insurance continuing education that allows participants to ask questions and learn directly from experts. Since these webinars are interactive and presented in real-time, they often cover timely topics that help risk management and insurance professionals stay ahead. For organizations focused on engagement and collaboration, including live webinars in your CE offering can even foster a stronger learning culture.
A corporate insurance CE solution that eliminates or reduces administrative work frees organizations from time-consuming tasks like tracking usage or handling CE reporting. With simplified billing, seamless content access, and built-in state filing support, teams can focus on strategic priorities rather than paperwork. The result is a smoother user experience, more efficient compliance management, and lower overall administrative costs.
Cost transparency is key when choosing CE for insurance licenses. Even small, unexpected costs—like per-course fees or separate state reporting charges—can add up quickly across a team. Before committing to a provider, make sure you know exactly what’s included in the price. Transparent education solutions will list all fees upfront, with no surprise add-ons at checkout, to help you manage your budget more effectively.
Paying per course or webinar can severely limit your licensed team members’ access to the full range of CE courses, webinars, and other opportunities available to them. A more efficient model to consider is one that charges a fixed annual rate per licensed individual and gives them unlimited access to a library of courses and webinars. This flexibility empowers them to explore content that’s most relevant to their role and career goals, while learning from an array of timely and relevant information.
Most importantly, the CE solution you choose should come from a trusted name within risk management and insurance education. Your team deserves to complete their education requirements from experts who understand the complexities of insurance, compliance, and professional development.
All of the above reasons are why we recommend CEU Unlimited+. As an affiliate of The Institutes, CEU is supported by The Institutes’ 115+ years of expertise. CEU Unlimited+ provides access to over 150 on-demand courses, weekly webinars, all-inclusive pricing, and more. Simply put, it brings together everything your organization needs to help meet their CE requirements quickly and conveniently.
Learn more about CEU Unlimited+ and explore what a partnership opportunity could look like for your organization today!
Hunter Fausnacht is President of the Agent & Broker Group at The Institutes, leading strategy, broker engagement, and client-relationship initiatives. He partners with top insurance brokers to advance knowledge development solutions and serves as the primary liaison to the Insurance Broker Advisory Board.
What 4 Catastrophe Risk Trends are Shaping the Future of Risk Management and Insurance?
By Diane HanlonDisasters that used to be considered once-in-a-lifetime events are now happening every few years. In 2024 alone, U.S. natural catastrophes caused more than $112 billion in insured losses, according to the Insurance Information Institute. This escalating trend is challenging traditional catastrophe risk models and pushing insurers to rethink how they measure, model, and manage risk.
For learning and development (L&D) and talent management leaders, the growing frequency and severity of catastrophe risks also highlight an urgent need: helping those in risk management and insurance evolve their skills so they can recognize and address a wide range of threats. By understanding key catastrophe risk trends, you can position your organization to not only withstand the next global catastrophic risk but lead with confidence through it.
Let’s explore four key trends shaping how today’s leaders can adapt through data, technology, and education.
Across the globe, hurricanes, floods, wildfires, and other natural disasters are striking more often and with greater intensity. In the first half of 2025, global insured losses from natural catastrophes reached approximately $80 billion, nearly double the 10-year average from 2014-2024, according to a report from Swiss Re Institute. Total losses for the full year could reach $150 billion or more.
And it’s not only natural catastrophes. Human-caused catastrophes, like cyber incidents and geopolitical conflicts, are also growing more complex. They’re forcing organizations to expand their corporate risk management strategy by exploring lesser-known geopolitical, industrial, and mass violence risks. In fact, EY’s 2025 Global Insurance Outlook found that 98% of global insurance CEOs plan to alter investments due to geopolitical factors.
Simply put, each major catastrophe can affect underwriting margins, pressure reinsurance capacity, and increase the likelihood that insurance carriers will retreat from high-risk regions. Catastrophe risk assessment and management must be an ongoing priority.
Traditional catastrophe risk models can’t keep up with today’s evolving threats, so risk management and insurance professionals are using advanced technology to make smarter decisions:
To illustrate, the Predict & Prevent® podcast—which addresses some of the biggest risk challenges facing society today— recently released an episode that explores how Faura's technology identifies which homes are more likely to survive wildfires, hurricanes, floods, earthquakes, and hail. Using quick homeowner self-assessments, Faura helps insurers replace costly inspections. Emerging technologies like these are critical to staying ahead of catastrophe risk.
As global catastrophic risks grow, insurers are finding new ways to share financial exposure. Traditionally, insurers relied on reinsurance when losses were too high. However, insurers are more often turning to alternative capital sources, including catastrophe bonds and insurance-linked securities (ILS), which connect financial markets directly to disaster events.
Parametric insurance is also more widely available than ever. Instead of waiting for a traditional loss assessment, payouts are triggered automatically when certain conditions—like wind speed or rainfall—reach a set level. This speeds up recovery and stabilizes finances after a major event.
Ultimately, this means that catastrophe risk has become a financial system challenge, not just an actuarial one. Understanding how insurance and capital markets work together will be key for staying resilient in the years ahead.
Forward-thinking RMI leaders are focusing more on proactive risk mitigation. Many companies now reward policyholders who take steps to reduce their risks by reinforcing buildings, installing advanced fire protection systems, and more. They may even provide policyholders with preventative technology up front, like sensors to monitor electrical issues or mitigate water damage from burst pipes or sprinklers. Likewise, organizations are also embracing scenario-based planning, using simulations to test their readiness for different disaster situations.
This shift is also impacting organizational culture. A resilient organization today ensures that every employee is well equipped for disaster readiness. L&D leaders play a crucial role by helping staff build the knowledge and confidence to respond effectively when catastrophe risk becomes reality.
The bottom line is that in the wake of growing global catastrophic risk, education and upskilling aren’t optional; they’re essential to close resilience and talent gaps. The Institutes Designations’ new Associate in Catastrophe Risk and Resiliency™ (ACRR™) helps RMI professionals meet this challenge and gain in-demand skills to manage natural and human-caused catastrophe risk.
Plus, ACRR is backed by The Institutes’ more than 115 years of experience as a not-for-profit, committed to educating, elevating, and connecting those interested in risk management and insurance to create a more informed, resilient world.
Empower your team to turn catastrophe risk into readiness with ACRR, the first of its kind that addresses catastrophes specifically within the RMI context.
Diane Hanlon is Head of Sales and Market Development at The Institutes, where she leads sales strategy and client partnerships. She works with Learning and Development leaders to design workforce learning pathways and serves on the Board of the Society of Insurance Trainers and Educators.
How to Prepare for The Institutes’ Final Testing Window of the Year
By Skills Edge TeamFrom October 15 through December 15, the final testing window of the year is your last chance to complete an Institutes Designation course and end the year with a strong sense of achievement in risk management and insurance (RMI). But it also arrives during one of the busiest times of the year, when projects wrap up, holidays approach, and travel plans may fill your schedule.
So, whether it’s your first course or the last one you need to earn a credential, success during this season requires a focused yet flexible approach. The tips below will help you create a practical plan, maintain momentum through the holidays, and show up confident on exam day.
First, pick a date within the window of October 15 to December 15, then plan backward from there. Working in reverse helps you visualize how much time you have for each step, such as reviewing study materials, taking practice exams, and scheduling a lighter review in the final week leading up to your exam.
Mark any major work deadlines, family gatherings, and travel dates on your calendar first. Then, fill the open spaces with study sessions. This method keeps your schedule realistic and prevents conflicts that could derail your preparation. Aim to complete your main studying a week or two before exam day, giving yourself time for final review and some flexibility if you need to retake an exam within the same testing window.
Next, let the people around you know about your exam goals well in advance. A quick conversation with your manager or family members can help protect your study hours and reduce stress when schedules inevitably fill up. When colleagues and loved ones understand your commitment to advancing your career, they're more likely to support your efforts during this busy season. Plus, they can help motivate you along the way!
According to research published by The Psychonomic Society in 2023, distributing your review across multiple sessions improves long-term retention of material compared to cramming study into one block. Consistency matters more than intensity. Aim for three short study sessions (20 to 30 minutes) and one longer review (60 to 90 minutes) each week. This steady rhythm keeps information fresh and helps you avoid last-minute cramming.
In addition, try to fit in reviewing study materials and studying habits to the routines you already have. Set goals to answer questions in the mobile app during your commute, discuss key concepts with colleagues over lunch, or tackle practice quizzes before bed. Some courses also include interactive exam practice questions and an AI Assignment Assistant to help weave studying into your schedule. When study time feels like part of your day instead of an extra task, it’s much easier to maintain.
Most importantly, reserve time for when you intend to complete the simulated exam, which reflects the style and structure of the actual exam questions. It’s an excellent opportunity to check your understanding, identify weak spots, and review course materials as necessary to build confidence on test day. Keep in mind that you can only take it once, so aim to complete it when you feel confident and ready after all assignments and quizzes.
Create a travel-ready study kit that includes flashcards, a notebook, and noise-canceling headphones to help you focus. This portable setup allows you to review during short breaks or while traveling. Even a few minutes of focused review while waiting at the airport or between family events can reinforce your learning and keep concepts fresh.
However, remember that rest plays a crucial role in memory retention and focus. Try to:
If stress starts to build, try a short breathing or mindfulness exercise before studying. Even a one-minute breathing exercise can boost energy and concentration, according to a 2024 article in Psychology Today.
The Institutes Designations’ exams are designed to measure how well you can apply key principles to professional risk management and insurance situations—not just how much you can memorize. Expect questions that reflect real-world scenarios you might encounter in the risk management and insurance landscape.
Focusing on the educational objectives in your RMI course materials can help you understand how central themes connect to on-the-job situations. Again, if your course includes a simulated exam, use it to test not only your knowledge but also get a feel for the environment and your thought process under the exam conditions.
Tip: If a challenging question appears, mark it and return to it later. Maintaining forward momentum helps you stay calm, confident, and in control throughout your exam.
In the days leading up to your exam, focus exclusively on light review and confidence-building activities. Skim chapter summaries, run through your flashcards one more time, and revisit key practice questions you've marked. This is the time to reinforce what you already know, not overload your mind with fresh concepts.
All Institutes Designation exams use virtual proctoring technology to ensure fairness for all students and maintain the integrity, value, and credibility of your achievements. Review the virtual exam proctoring guidelines and FAQs before exam day. Also, be sure to:
Taking care of these technical details in advance allows you to focus fully on demonstrating your knowledge during the exam.
This final testing window represents your chance to close out the year with pride and enter the new year with stronger skills in risk management and insurance. With a structured plan, flexible study habits, and a calm mindset, you can successfully balance the season's demands while taking the next step toward your designation. Your dedication during this busy season will help set you up for success in the year ahead, supported by The Institutes’ 115-year legacy of trust, purpose-driven education, and commitment to helping RMI professionals serve those in need.
For more study support, explore:
Our Skills Edge Team brings together insurance researchers and subject matter experts dedicated to advancing knowledge in risk management and insurance. Backed by more than 115 years of experience as a not-for-profit, the team at The Institutes is committed to educating, elevating, and connecting people and ideas to create a more informed, resilient world.
Is There a Competitive Advantage Through Education? How The Norfolk & Dedham Group Drives Continuing Professional Development
By Skills Edge TeamProfessional development and education are not nice-to-have perks anymore; they are a competitive advantage for you, your employees, and your organization at large. In fact, 70% of employees say learning improves their sense of connection to their organization. Organizations that invest in education will be able to future-proof their workforce and attract, prepare, and retain the next generation of risk management and insurance leaders.
We had the opportunity to speak with Joel P. Murray, CPCU, Board Chair, President, and CEO of The Norfolk & Dedham Group (N&D) as well as Michael J. Tufts, CPCU, Senior Vice President, People & Administration of N&D®. They shared how their extensive professional development efforts have been a competitive differentiator for their organization, how N&D leverages The Institutes Designations to drive career development pathways, and why their clients ultimately benefit from these initiatives.
N&D has a unique learning and development culture that ensures employees have the knowledge and skills they need to be successful in their current and future roles.
“Professional development is a strategic differentiator for us as we demonstrate to our employees we care about their future,” Murray commented. “Our partnership with The Institutes signals to candidates that we're serious about their growth. Internally, designation holders have an advantage over those who do not pursue [designations] as a result of their elevated subject matter expertise.”
This advantage comes in the form of streamlined paths to career advancement, as further explained by Murray:
“Our career development pathways are deeply embedded in our culture. We've designed structured progression models for underwriting, claims, and project management roles that emphasize continuous education, including CPCU® and other designations.”
In practice, Michael Tufts broke down what a career pathway might look like for a Commercial Lines Underwriter starting at N&D.
“When it comes to our talent practices, we’ve recently developed career pathways for our Commercial Lines Underwriters, from Day 1 through Year 7. There are two pathways: with CPCU and without CPCU. If employees earn their CPCU, they'll be able to go from an Associate Commercial Lines Underwriter, to a Commercial Lines Underwriter, to a senior role in four years. Without earning CPCU, it will take about 7 years. CPCU is so valuable from a technical knowledge standpoint that employees need a lot more on-the-job training and skill development to fill the knowledge gap.”
N&D’s professional development support extends far beyond promotion criteria, however. They cover the costs of employees’ course materials and even offer incentives for earning Institutes Designations.
“We pay for all the materials and exams employees need for every Institutes Designation,” said Tufts. “Physical books, online materials, their first exam attempt, everything. When they earn any designation, we award them $1,000. If they earn their CPCU we give them $3,500 and pay for them to attend the conferment conference.”
Thanks to their extensive training programs, N&D has been able to embrace knowledge and skills-based recruiting, which allows them to hire from a wider pool of candidates who may not have worked in risk management and insurance before, but have the transferable skills needed to grow their knowledge in entry-level positions.
As Tufts put it, “We’ve had to shift from a competency-and-experience-based recruiting model to a skills-based model. For an entry level job, like Auto Claims Examiner, we’re recruiting for skills. For example, somebody who has been a server in a restaurant and can communicate effectively with people, handle stress, and has good customer service skills will likely do well in that role. Those hospitality skills really lend themselves to what we’re looking for. Ultimately, that means we’re bringing a lot of new people into the company who have no domain knowledge in insurance. We created the learning journey to help address this gap.”
Next, once these new hires start, N&D quickly sets them on their learning journey.
“During an employee’s first year, 11-12 subject matter experts from within the company present a wide range of topics that are relevant to a mutual insurance company,” explained Tufts. “Two-hour sessions, once a month, over the course of a year. Alongside that, each employee will also be working toward their Associate in Insurance (AINS®) designation.
“By the end of the year, every new employee has achieved at least a baseline of domain knowledge of our industry, has earned AINS, and is ready to enter a specialized learning track. Then if they want to work towards their Associate in Claims (AIC™), they move onto track A. If they want to earn CPCU, they move onto track B. And so forth. We always try to leverage existing expertise and credit earned from The Institutes Designations across the organization.”
The Institutes Designations’ CPCU® is central to N&D’s professional development programs because it’s regarded as the leadership standard for risk management and insurance.
Murray stated, “At N&D, we view the CPCU designation as a cornerstone of professional excellence. Employees who earn their CPCU demonstrate not only technical mastery of property and casualty insurance but also a commitment to ethical standards and continuous learning. This translates into stronger underwriting decisions, better risk assessment, and improved profitability. They become subject matter experts and trusted resources for their teams, which elevates the entire organization.”
Understanding that earning one’s CPCU is a huge accomplishment, backed by years of hard work and dedication, N&D makes sure to recognize and celebrate their CPCUs. In addition to awarding completers $3,500 and paying for them to attend the conferment conference, they also post their accomplishments on social media and in the office.
“We have an entire wall in our office dedicated to the diplomas of all CPCUs in our organization," Tufts shared. “It really is a wall of honor for our employees—26 CPCUs in a company of 160. And we don't just recognize them on the wall. We recognize them during our annual town hall meeting, create a LinkedIn post celebrating them, and post their accomplishment around the office. It's a big deal and we want to acknowledge that.”
According to Murray, robust employee training and learning experiences provide N&D’s clients with an overall better experience on just about every front.
“Our mission is to provide financial security and peace of mind to our policyholders,” said Murray. “That starts with having knowledgeable, empowered employees. Through CPCU and other learning programs, our staff gain the technical expertise and business acumen needed to deliver exceptional service. Clients benefit from faster, more accurate underwriting, responsive claims handling, and personalized service. Our agents appreciate working with professionals who understand the nuances of coverage and risk. Ultimately, our investment in people translates into trust, loyalty, and long-term relationships with our agency partners, which serve as the foundation of everything we do.”
The bottom line: If you’re looking to build or revamp learning and development programs for your organization, The Institutes Knowledge Group can help! Reach out to our team at Sales@TheInstitutes.org for advice and best practices on building a culture of continuing professional development and lifelong learning.
Our Skills Edge Team brings together insurance researchers and subject matter experts dedicated to advancing knowledge in risk management and insurance. Backed by more than 115 years of experience as a not-for-profit, the team at The Institutes is committed to educating, elevating, and connecting people and ideas to create a more informed, resilient world.
The Institutes Launch a New Catastrophe Risk Designation as Extreme Weather Losses Triple
By Skills Edge TeamThe frequency of extreme weather events causing billion-dollar losses has more than tripled in the United States over the past five years, jumping from an average of seven events annually to 23. This dramatic escalation in catastrophe risk has prompted The Institutes Knowledge Group to develop a comprehensive new professional designation specifically focused on both natural and human-caused catastrophe risks and resilience.
Risk & Insurance, which is affiliated with The Institutes, recently spoke with Adam Carmichael, CPCU, the President of The Institutes Knowledge Group, about a new Institutes Designation. You can read the original article on the Risk & Insurance website now. The Institutes Designations’ Associate in Catastrophe Risk and Resiliency™ (ACRR™) addresses the urgent need for specialized catastrophe risk management expertise.
“The primary motivation for creating this designation was to address the growing and evolving threat of catastrophe risk and help both people and companies become more resilient in the face of those risks,” said Carmichael. “Catastrophes can result in physical and financial losses and often impact entire communities.”
The new Associate in Catastrophe Risk and Resiliency™ (ACRR™) designation, now available, represents one of the few programs in the risk management and insurance space comprehensively addressing both natural and human-caused catastrophe risks. The program was developed in response to clear demand, with The Institutes Knowledge Group’s advisory board providing immediate and positive confirmation that professional development in this area was critically needed.
Risk management and insurance faces unprecedented challenges from catastrophe risks that continue to evolve in both frequency and severity. Natural disasters have become more intense, while human-caused catastrophes like cyber-attacks have expanded in scope, creating intricate interdependencies that cause ripple effects across industries and communities.
“When you combine all the various catastrophes, this represents one of the largest risks the risk management and insurance sectors face, affecting a broad range of professionals across the field,” Carmichael said. The designation was specifically created to provide risk professionals with the skills needed to implement holistic risk mitigation and prevention strategies.
The program’s focus also extends beyond simply responding to catastrophes after they occur. “This designation was created to provide risk professionals with the skills needed to implement holistic risk mitigation strategies, strengthen resilience, and apply insurance and reinsurance solutions while looking beyond financial protection to predict and prevent potential losses,” Carmichael explained.
In developing the ACRR designation, The Institutes Knowledge Group employed a rigorous methodology drawing from multiple sources to ensure thoroughness and practical applicability. The development process began with comprehensive research into catastrophe risk, examining the various areas within this complex field.
“We pull from a variety of sources because what we’re trying to build is a holistic framework for managing both natural and human-caused risks,” Carmichael said. This research was then combined with input from subject matter experts who work directly in the risk management and insurance sectors, ensuring the program addresses real-world challenges that professionals face daily.
The goal throughout the development process was to design courses that help professionals build practical, applicable skills for their jobs. “These skills enable them to solve problems, develop strategies for handling complex risks, and ultimately work to mitigate, predict, and prevent catastrophes,” Carmichael noted.
The ACRR designation consists of four required courses that can be completed in six to nine months, with each individual course typically taking four to six weeks. The program includes:
All courses are delivered in a completely digital format, featuring scenario-based learning experiences that reflect real-world situations. “Each course has a related exam where participants can demonstrate application of the concepts covered, and these exams are also digital and can be taken anywhere,” Carmichael said. There is also a free sample course for those who want to experience the program format before enrolling.
The designation applies to a wide range of risk and insurance professionals, with particular relevance for those in specific roles. “Specifically, anyone who wants to better understand catastrophe risk and how to build resiliency would benefit, including risk managers, brokers who want to ensure their clients are protected against catastrophe risk, and underwriters who deal with this risk in their daily work,” Carmichael explained.
Professionals in the reinsurance sector should especially consider this designation, as catastrophe risk plays a critical role in that area. Additionally, those working in Insurtech could benefit from a better understanding of the risks that technology may be able to help predict and prevent.
The program equips professionals to build frameworks for assessing and managing risk that remain relevant even as catastrophe risks evolve and change over time. Participants learn to employ effective catastrophe risk management techniques and improve cross-organizational communication by raising awareness, fostering preparedness, better translating complex data into understandable information, and building a culture of vigilance.
“Anyone who cares about their organization’s bottom line should be interested in this,” Carmichael said, emphasizing the broad applicability of the skills developed through the program.
Looking ahead, the importance of education in catastrophe risk management cannot be overstated. “Catastrophe risk can be devastating. The more we understand these risks and are able to plan and build strategies to predict, prevent, and mitigate them, the more significant the difference we can make,” Carmichael said.
While some catastrophic events are inevitable, there are proactive measures that can be implemented to improve outcomes. “Education in this space is crucial because while some of these events are inevitable, there are proactive measures we can take. When we implement these measures in advance, it creates better outcomes for everyone involved,” Carmichael noted.
With more than 115 years of experience as a not-for-profit committed to educating, elevating, and connecting those interested in risk management and insurance, The Institutes have positioned this new designation to help create a more informed and resilient world in the face of growing catastrophe risks.
To learn how your organization can turn catastrophe risk into readiness, explore The Institutes Designations’ NEW Associate in Catastrophe Risk and Resiliency™ (ACRR™) today.
Our Skills Edge Team brings together insurance researchers and subject matter experts dedicated to advancing knowledge in risk management and insurance. Backed by more than 115 years of experience as a not-for-profit, the team at The Institutes is committed to educating, elevating, and connecting people and ideas to create a more informed, resilient world.
Lead the Next Chapter: Risk Management and Insurance Masterclasses for Evolving Leaders
By Adam Carmichael, CPCUThe risk management and insurance (RMI) landscape is transforming at a rapid pace. Experienced professionals are retiring at a high rate, AI is revolutionizing almost every function from underwriting to claims, and teams are becoming more global. If you've earned an Institutes Designation, you've already built a solid foundation, but keeping your skills sharp requires continuous growth.
That’s why we created new risk management and insurance Masterclasses: concise, skills-focused courses designed to help you lead with greater impact. In just 3-5 hours per course, you'll gain actionable insights you can apply immediately, plus a digital badge to showcase your commitment to excellence.
Ready to discover how these targeted learning experiences can accelerate your professional development? Let's explore why these skills matter and which Masterclass might be your perfect next step.
The risk management and insurance field is evolving. Shifts in workforce demographics and digital innovation are reshaping expectations for leaders, demanding stronger communication, data fluency, and strategic agility. This is predicted to have a significant impact on middle management roles.
What does this mean for you? Technical expertise alone is no longer enough. Today's employers seek RMI leaders who can:
Key Takeaway: Today’s leaders must evolve their skill sets to help organizations navigate employee turnover, technological transformation, and workforce globalization.
Each Masterclass addresses a critical skill gap in today's RMI community, delivering practical tools you can implement immediately.
Ideal for those preparing for increased roles or seeking to expand their influence in the risk management and insurance landscape, this course helps you identify your leadership strengths and gaps while building your ability to make sound decisions under pressure. You'll learn what inspires colleagues to follow your lead and how to become a steady, calming presence in your organization.
Designed for those driving digital transformation, this Masterclass breaks down the intersection of data analytics and AI technology. You'll gain the vocabulary to collaborate effectively with data scientists, understand how AI enhances everything from underwriting to customer experience, and discover practical applications for your specific RMI role.
Essential for anyone working with diverse teams within the insurance sector, this course explores how personality and cultural differences influence workplace communication. You'll master techniques for adjusting your messaging strategies, building cultural intelligence (CQ), and fostering inclusive collaboration that drives results.
For leaders building high-performing teams, this Masterclass develops your ability to set clear expectations, apply empathy in challenging work situations, and guide others toward their own solutions. You'll learn active listening techniques, and skills that build trust and accelerate team growth.
Consider which skill will have the biggest positive impact on your work right now.
Each course stands alone, so you can start anywhere and complete them in any order. With just a few hours of focused learning, you'll gain skills that differentiate you in the risk management and insurance marketplace, earn recognition through digital badges and email certificates, and demonstrate your commitment to continuous improvement.
In conclusion, leadership in risk management and insurance isn't a destination. It's an ongoing journey of growth and adaptation. In a field experiencing ongoing changes, those who continuously sharpen their skills will thrive.
The Institutes' Masterclasses offer you a practical path forward, combining 115+ years of trusted expertise with modern, actionable learning designed for busy professionals. Whether you're looking to enhance your AI literacy, strengthen your cross-cultural communication, develop emerging talent, or step confidently into a leadership role, these courses deliver the focused development you need.
Explore our new Masterclasses today and take the next step in your professional RMI leadership journey. Your future self—and your organization—will thank you.
Adam Carmichael, CPCU, is President of The Institutes Knowledge Group. He leads the strategic development and delivery of courses and exams for risk management and insurance designation programs. He also oversees new course creation to ensure The Institutes’ education aligns with professional development needs. With more than 25 years in research and assessments, he brings deep expertise in professional development.
The Rising Cost of Catastrophe Risks: What Every RMI Professional Should Know
By Adam Carmichael, CPCUEvery September, National Preparedness Month serves as a reminder that readiness is essential in today’s risk landscape. For risk management and insurance (RMI) professionals, this year’s observance is especially timely. The physical and financial toll of catastrophes continues to rise due to events like hurricanes, wildfires, and geopolitical unrest.
In response to this rapidly growing and evolving threat, The Institutes Designations recently launched the new Associate in Catastrophe Risk and Resiliency™ (ACRR™). This program was developed to help professionals gain in-demand skills to identify exposures, implement holistic mitigation strategies, and strengthen the resiliency of organizations and communities.
Catastrophe risk refers to the potential for large-scale losses caused by natural events like hurricanes, floods, and wildfires or by human-caused disasters such as cyberattacks or political unrest. According to the Insurance Information Institute, an event is considered a catastrophe when insured losses exceed $25 million and affect many policyholders.
A catastrophe risk model is a tool insurers and risk managers use to estimate potential losses from catastrophic events. These models combine historical data, scientific research, and exposure information to help organizations plan for worst-case scenarios.
The cost of catastrophe risk is surging for several reasons:
According to the Insurance Information Institute, there are various key stats on catastrophic risks that make the urgency clear:
In summary, these numbers reflect more than insurance payouts. They represent lost homes, disrupted communities, and long-term business interruptions that strain organizations far beyond the initial disaster.
Insurance alone cannot absorb the impacts of today’s catastrophe risks. Coverage gaps and rising deductibles make it harder for organizations to rely solely on traditional transfer strategies.
At the same time, interdependencies are straining existing approaches to catastrophe risk management:
Ultimately, catastrophe risks are no longer isolated events; they create a complex web of challenges that can ripple across industries and communities.
Data and catastrophe risk models help RMI professionals, but they cannot completely eliminate the uncertainty these risks bring. Simply put: Preparedness now requires holistic, forward-looking strategies that extend beyond financial protection. Steps that strengthen catastrophe risk management include:
RMI professionals must adapt their skill sets as catastrophe risks continue to evolve. The Institutes Designations’ new Associate in Catastrophe Risk and Resiliency™ (ACRR™) provides a framework for managing both natural and human-caused catastrophe risks that will remain relevant even as threats change over time.
ACRR equips RMI professionals to:
Learn more about ACRR and how it can help you strengthen resiliency for organizations and communities. You can also try the free ACRR sample course to preview the content and determine if the program fits your professional goals.
Introducing the Assignment Assistant: Your AI-Powered Study Partner
By Adam Carmichael, CPCUStudying for a designation can be both rewarding and challenging. Many learners tell us they spend extra time searching for explanations, looking up examples, or re-reading tough concepts when studying their assignments.
That’s why we’re excited to introduce the Assignment Assistant—a new AI-powered tool built right into CPCU and AIC courses to help you study smarter, not harder.
The Assignment Assistant is an AI-driven study companion designed specifically for The Institutes’ designation courses. Unlike generic AI tools, it’s trained on our course materials, ensuring you get accurate, course-specific guidance aligned with your learning objectives.
If you select the course package that includes the Assignment Assistant, it’s available directly in your CPCU and AIC course dashboard and ready to use whenever you are.
The Assignment Assistant was designed to make your study journey more efficient. It’s not here to replace the effort you put into mastering your material—it’s here to make that effort more effective.
By removing barriers and saving you time, the tool helps you stay on track, boost your confidence, and get the most out of your learning experience.
If you already have this course package, accessing the Assignment Assistant is simple—just open it directly from your AIC or CPCU course dashboard. Give it a try on your next assignment and see how much time you can save.
Launch the Assignment Assistant Now
Are you currently a CPCU or AIC student, or looking to start either program? Learn more about this new, exciting tool and find out if it’s for you!
The Value of Investing in Professional Development: Q&A with Pennsylvania Lumbermens Mutual
By Skills Edge TeamOffering professional development is no longer a nice-to-have-perk, it’s a strategic competitive advantage that drives everything from bottom-line results to employee recruitment and retention. In fact, 94% of employees say they would stay at a company longer if it invested in their career development, according to LinkedIn’s Workplace Learning Report.
The Institutes had the opportunity to speak to board member and Pennsylvania Lumbermens Mutual Insurance Co. President and CEO John Smith, CPCU, ARM, ARe, AIS about his organization’s investment in professional development. In the Q&A that follows, Smith shares PLM’s viewpoint on the value of learning and development, the measurable outcomes they've seen, and why they’ve made education a cornerstone of their talent strategy.
John Smith: Our commitment to education and development is not based on a desire to hang up a lot of certificates; it stems from the belief that the company with the best people, at the end of the day, wins.
We believe the true value of an insurance program lies not in its price, but in the caliber of professionals who deliver exceptional expertise and service. Furthermore, we are committed to continuous learning, recognizing that without it, the competition will inevitably close the gap.
JS: Participating in our education program is mandatory for all employees (yes, even me). We’re proud to say that 100% of our team has engaged in continuing education, with some returning to formal learning for the first time in years.
Last year, our team of approximately 170 people took 196 Institutes designation exams. As a result, we earned 53 Institutes Designations, including several who earned CPCU®. Members of our senior leadership team are among those who completed the CPCU designation, including one member who started their CPCU program in 1986. I’ll never forget the emotion in his voice when he called, in tears, to share that he had passed the final part of the designation.
JS: We do weekly in-house training sessions, provide personal employee coaches, and we send people to external classes run by reinsurers, NAMIC, APCIA, and many of our industry partners.
Our leadership training is conducted by the Center for Creative Leadership. This allows our people to engage with professionals outside the insurance industry, helping to broaden their perspectives and strengthen their leadership capabilities. More recently, we’ve also begun working with the International Cooperative and Mutual Insurance Federation (ICMIF) to provide our leaders with valuable international experience.
In the right circumstances, we will pay for advanced degrees in their entirety and freely invest in a set budget for anyone pursuing an undergraduate or a graduate degree.
JS: We maintain exceptionally high policy and premium retention rates and have achieved an underwriting profit in eight of the past ten years, alongside an operating profit in all of the ten years. Our education program, now in its sixth year and managed by a dedicated full-time leader, has played a significant role in this success.
More importantly, we are attracting new talent to PLM in part due to the program. I can’t recall a single instance where a candidate withdrew from the interview process because of our mandatory education requirement.
Additionally, we recently launched a succession plan built entirely around internal candidates, further demonstrating our long-term investment in developing and retaining top talent.
What Are the Best Study Tips for The Institutes Designations’ Exams?
By Angela Pilotti, CPCU, AReAre you planning to take an Institutes Designations’ exam soon? It’s natural to be a little nervous, but with the right strategies, you can feel confident and ready to succeed. Below, we’ve outlined 10 practical study tips to help you stay motivated, retain information, and apply what you’ve learned on exam day.
Important: These exams aren’t about memorization. They're designed to assess how well you apply knowledge in real-world scenarios.
Use visual reminders—like Post-it notes or screensavers—to keep your goals front and center. Whether you're aiming for career advancement, personal growth, or improved job performance, connecting your study efforts to your larger purpose can help keep you on track. Share your goals with friends or family so they can support you.
You’re part of a field that helps people overcome life’s unexpected challenges. That purpose alone is a powerful motivator.
Research shows cramming at the last minute doesn’t support long-term retention—and it works against how Institutes Designations’ exams are structured. These exams assess applied knowledge.
Create a study schedule with clear milestones and SMART goals (specific, measurable, achievable, relevant, and time-bound). Use the printable study outline in each course, which includes key points, review questions, and space for notes. You can also track your progress and quiz results within your course to see where you stand.
Find a quiet space, put your phone on do-not-disturb, and let family or friends know to respect your study time without distractions. Grab anything you might need—not just a pen and notebook—but also things like a full water bottle and a nutritious snack so you don’t have to get up and then try to settle back into study mode.
Beth Illian, a working parent who earned her CPCU®, AINS®, and AIS™ shared her routine to accomplish this. She would always study in the evening, after her kids were in bed, with a cup of tea and a stack of pretzels at the dining room table. This was a “signal to her brain” that this was the time to switch off from the day and study.
Mike Bronzino, Managing Director of Exam Integrity for The Institutes, earned his CPCU®, ARM™, AIM™, ARe™, and AMIM® designations prior to joining The Institutes. That's more than 25 Institutes Designations’ exams completed, and he highly recommends you focus your study efforts on the educational objectives. These are the central themes of the course material. Exam questions directly relate to the real-world application of these course objectives. If you focus only on facts or terminology, you’ll miss the bigger picture.
All designations courses include proven, comprehensive study materials to help you take the exam with confidence. In addition to the printable study outline with key points and review questions, you also have access to the following:
NEW: CPCU, AIC, AINS, ARM, AU, ARe, and AIDA course options now include hundreds of interactive exam practice questions that pull directly from the course content. With CPCU and AIC courses, you can also choose a package with an AI Assignment Assistant that adapts to your preferred learning style.
Your exam will include multiple different question formats. Understanding these formats will help you feel confident and prepared.
In addition to multiple choice, your exam may include fill-in-the-blank, drag-and-drop, and numeric-entry questions. These are designed to help you better understand, retain, and apply course content while preparing you for real-world scenarios.
The Institutes' Chat on Facebook is The Institutes Knowledge Group’s office page and the place to connect with other students. Find a study partner, share tips, and celebrate milestones together. It’s easier to stay accountable and motivated when you're part of a community.
You’ll also see questions from other learners that can spark new ways of thinking and deepen your understanding, especially when you're tackling tough concepts.
One of the best ways to reinforce your learning is to explain key concepts to someone else, as if you're teaching them. This practice, also known as the protégé effect or the Feynman Technique, helps you identify gaps in your understanding and deepens retention by forcing you to put the ideas into your own words.
Even if you don’t have a study partner, you can do this by speaking out loud to yourself or writing out an explanation in a notebook. The goal isn’t perfection; it’s about practicing how you apply the concepts, which is exactly what the exam will ask you to do.
As you get closer to exam day, take time to focus on the areas that challenged you the most. Use your quiz results and course progress indicators to identify areas for improvement. But don't just reread the material. Focus on applying the concepts to real-life scenarios—just like you'll do on the exam.
All exams now include virtual proctoring to maintain the value and integrity of your hard-earned Institutes Designation. You still have the same flexibility of testing anywhere, anytime, now with added security. Just ensure you're familiar with the requirements and have a reliable internet connection to complete your exam without interruption.
We recommend you test your equipment at least 48 hours before your exam.
With the right tools, a clear plan, and consistent prep, you’re not just studying for an exam—you’re building your future in risk management and insurance. These exams are designed to evaluate how well you apply knowledge, not memorize facts. Every question is an opportunity to demonstrate your understanding and your growth.
Need more support? Visit our Exam Prep Center for more tips and answers to common questions.
* Based on analysis of CPCU®, AINS®, and ARM™ student exam results versus exam-preparation methodologies, 2020-2021.
