University of South Florida Campus – Courtesy: Shutterstock – Image by Pat Tr
BRP Group, Inc., a Tampa-based independent insurance distributor, and the Baldwin family, who founded the company, have donated $5.2 million to the University of South Florida’s Muma College of Business School of Risk Management and Insurance.
According to the college’s website, “The Muma College of Business leverages analytics and critical thinking as a means to advance student success, produce scholarship with impact, and generate innovation in partnership with our stakeholders. Our vision is to be a top business school recognized for the transformative solutions produced by its scholars and graduates who lead in business and society.”
With immediate effect, the school will change the name of its current School of Risk Management and Insurance to the “Baldwin Risk Partners School of Risk Management and Insurance.” The largest gift in Sarasota-Manatee campus history will fund academic initiatives in the risk and insurance industries.
“BRP’s milestone investment will allow the University of South Florida to grow the school into a powerhouse in risk management and insurance education and prepare future generations of insurance industry leaders for high-demand roles that are critical to supporting Florida’s economy,” USF President Rhea Law said.
According to the university release, the insurance industry faces a talent gap due to an aging workforce and technological disruption. The number of insurance employees over 55 has grown by 75 percent in the last 15 years. It is nearly 30 percent higher than other comparable industries.
In addition, a 2019 survey from the International Risk Management Institute found that just 25 percent of the insurance workforce is under the age of 35. According to the statement, just one other university in Florida offers a comprehensive degree in the field, and there are less than 10 risk management and insurance programs nationwide that produce around 50 graduates each year.
“Our firm has a deep commitment to each of our key stakeholders, which include our clients, our colleagues, insurance company partners, and our communities,” said Lowry Baldwin, chairman, and co-founder of BRP Group. “We’re proud to support the risk management discipline through this partnership to develop a world-class educational program. This investment will broaden awareness of the diversity of career options available within this field of study and fuel the next generation of industry leaders.”
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Chris began his writing as a hobby while attending Florida Southern College in Lakeland, Florida. Today he and his wife live in the Orlando area with their three children and dog.