MESSAGEFROMTHEDIRECTOR
The 2023-2024 academic year was one of significant progress for The Baldwin Group School of Risk Management and Insurance toward our goal of establishing a leading program in RMI. We have seen favorable development for the school in terms of increasing student enrollments, fostering student engagement, expanding the faculty, updating the curricula, and boosting our presence in the academic and insurance industries globally.
As we look ahead to the upcoming academic year, our focus remains on continued growth Building upon our strong foundation, we aim to create a prominent institution overlooking the Tampa Bay region and beyond.
We will continue encouraging students to “put risk in your future” and seek ongoing support from our stakeholders as we strive to become a premier risk management and insurance program worldwide whose mission is to educate the next generation of risk professionals
In the spirit of progress,
Randy
Director, The Baldwin Group School of Risk Management and Insurance
“
We continue our efforts to build a preeminent program that serves the Tampa Bay region and beyond and look forward to working with our students, industry partners, and other stakeholders to make this next year a memorable one!”
- RANDY DUMM
ABOUTTHESCHOOL
Every success story begins with a vision and leaders to execute it The establishment of the risk management and insurance program, at the University of South Florida Sarasota-Manatee, was driven by forward-thinking Sarasota industry professionals and the unwavering commitment of the campus leadership Together, they created one of only two dedicated RMI programs in Florida
The Baldwin Group made a significant contribution to USF, naming the school and supporting its expansion across all three USF campuses Designated by the Florida Board of Governors as a program of strategic emphasis paired with industry support to date, The Baldwin Group School of Risk Management and Insurance is gaining strong momentum.
Risk is the connective tissue across the business disciplines, and as such, RMI 3004 is a game-changer for students who will discover the discipline and develop an important framework for the understanding of risk and how it is managed We are excited for those who chose to truly “put risk in your future” and major or minor in risk management and insurance
KEYDRIVERSOFSUCCESS
As we develop the playbook for the successful expansion of The Baldwin Group School of Risk Management and Insurance, we have pinpointed essential drivers that will serve as the foundation for both program growth and student readiness for careers in the field.
MarketingandSchoolGrowth
Expanding the school’s brand represents a pivotal goal of our marketing endeavors aimed at fostering student interest in the major/minor, targeting industry engagement, and attracting investments from donors.
ExperientialLearning
Engaging in real-world experiences and industry interactions can significantly alter brand perception, providing students with firsthand exposure to the dynamic aspects of the business world
Engaging with our advisory council and securing continuous support from industry partners is imperative to ensure our students are prepared to meet the challenges of a dynamic and evolving industry.
USF's Gamma Iota Sigma, an up-andcoming student organization focused on risk, insurance, and actuarial science, provides students with a platform to explore the hands on aspects of risk management and insurance. Participants have the chance to assume leadership roles, interact with industry experts, and contribute to community service initiatives
FacultySupportandDevelopment
We are in the process of recruiting more RMI faculty scholars to contribute their expertise in teaching and researching pivotal areas that influence the field. Efforts and strategies are being implemented to bolster the research initiatives of tenure-track faculty members Our faculty members are demonstrating exceptional commitment and proficiency, making significant contributions within and beyond the academic sphere.
MARKETINGANDSCHOOLGROWTH
Various strategies and tactics were implemented to build awareness of the school, stimulate enrollment in the major and minor, and promote career opportunities for students interested in pursuing risk and insurance.
Flyer:PutRiskinYourFuture
Emphasizes how to get the comparative advantage with an RMI degree
Distributed via multiple channels; primarily used by advisors and faculty: digital and print format
ContentMarketing|SocialMedia
Created a LinkedIn page for the school
Gained over 900 followers in one year. Provides ongoing engagement with industry, students, and academia.
CareerGuide:ADiscoveryGuideto Risk-RelatedCareerPaths
Informs students of how their strengths, knowledge, and skills align with specific roles in the industry
Utilized by advisors, counselors, and industry to help explain career viability in risk.
Formatted as a digital magazine on the school’s website.
It’sallinthetagline!
Twoprominentandexclusivetaglinesutilized byourbrandare“PutRiskInYourFuture” and“TheRMIAdvantage ”
MARKETING
AcademicAdvisors
Regular,ongoing engagementwith AcademicAdvisorsto helpthembecome morefamiliarizedwith theprogramofstudy, careeropportunities, andthestrategicplans oftheschool.
RMI3004-PrinciplesofRiskManagement
Thiscoursecameonlinelastfallanditisan undergraduatefoundationalcourserequired ofallstudentsintheMumaCollegeof Business
Experientiallearningthroughengagingwith industryexpertsisanintegralpartofthe educationalprocess. Guestspeakersfromtheindustrysharetheir storiesandhelpstudentsbuildadeeper understandingofthecoursematerialandthe careeropportunitiesthroughtheRMIdegree.
TheRMIAdvantagePresentation
PresentationsbytheRMIfaculty toallRMI3004studentsthatis designedto:
Find“theirfit”acrossmultiple careeropportunitiesinthe field. Understandthebroadsystem ofsupporttheyhavewithin theschool,itsstudent organization,andindustry partners.
MARKETING
SchoolEmail:rmi-school@usf.edu
Createdanewschoolemailformarketingandstudent communicationswithafocusonenhancingtheschool’s brandQRCode-basedprocess
InitiatedanewQR-basedprocessthatprovidesstudents withtheopportunitytorequestinformationaboutthe major/minorandtosupporttheirengagementwiththeir advisors.
BullsBusinessCommunityAwarenessSurvey
SurveyedagroupofstudentsnotcurrentlypursuingRMI togaugetheirawarenessandinterestintheprogram.
Datarevealed:
Theschoolhason-goingopportunitytoeffectively markettheprogram
Highstudentinterestinthemajorandminor
Fundraising:ConceptPaper
Coreelementsofthismarketing pieceeffectivelycommunicatea convincingcaseforprovidingthe necessaryresourcestoachieve ourvisionandattainnational recognitionasatop-tierschoolof riskmanagementandinsurance
LatinAmericanAssociationofInsurance Agents(LAAIA)
Establishedastrategicrelationship withtheLatinAmericanAssociation forInsuranceAgentstocreatea channelforprospectivestudentsfrom theorganization'smembersandtheir families,alongwithindividualsfrom LatinAmericannations.
MARKETING
BuildingPipelineattheHigh SchoolLevel
High school students explored the lifecycle of a commercial claim and discovered various career opportunities through an interactive exercise called "The Human Insurance Chain." Involving high school students in interactive activities can spark their interest in pursuing degrees and careers in the field, potentially increasing enrollments in the program in the future
SCHOOLGROWTH
YearoverYear
Withincreasedcourseoptions,andtheimplementationin2023withafoundation courseintheMumaCollegeofBusiness,RMI3004-PrinciplesofRisk Management,theschoolisexperiencingrapidgrowthinRMIcourseenrollment.
LookingaheadtoFall2024, weanticipateacourseenrollmentincreaseinexcess of300%comparedtoFall2023
Thenearlyfive-foldincreaseinGammaIotaSigma(GIS)membershipoverthepast academicyear,expandingfrom11to62members,stronglyindicatesthe anticipatedgrowthinbothenrollmentsandGISmembershipmovingforward.
Palmetto High School Manatee County School District
The Human Insurance Chain exercise
EXPERIENTIALLEARNING
Wholesaleand Specialty Association
CBIZ
TampaBay MarinersClub
2023ExtremeRisk TakersSymposium
Tampa International Airport
TourofMote MarineLaboratory &Aquarium
Industry Professionals
SinkorSwim MarineInsurance Seminar
When students engage with risk management and insurance, it opens up their minds and hearts to potential career opportunities in this field. Through experiential learning in and beyond the classroom, concepts are brought to life, knowledge is enriched, and confidence is nurtured.
StudyAbroad
EnterpriseRisk ManagementTour ofAirport
Guestspeakersin classroomand GammaIota Sigma
CaseStudiesin ERMSeminarand corporatetoursin Munich,Germany
2024:SCHOOLOFRMIGOESINTERNATIONAL
International experiences in preparing students for successful careers in the dynamic field of risk management Thanks to the generous support of the Florida Surplus Lines Service Office (FSLSO), two RMI students participated in a Case Studies in Enterprise Risk Management seminar at Ludwig-Maximilians-Universität München (LMU) in Munich, Germany.
This immersive learning experience delved into Harvard Business School case studies and included a series of corporate visits within Munich's vibrant marketplace: Swiss Re, Munich Re, Allianz, PwC, Stadtwerke München GmbH, BMW Group AG Financial Services, Scalable Finance, and Diehl Defence. Our students gained invaluable insights into cutting-edge risk management practices and strategies.
Our students joined a diverse class comprising students from Germany, France, Sweden, Italy, Bulgaria, Brussels, Singapore, South Korea, and Thailand
“
At The Baldwin Group School of Risk Management and Insurance, we strive to provide our students with not only a solid academic foundation but also real-world exposure to different markets and cultures."
- Randy Dumm
RISKADVISORYCOUNCILANDINDUSTRYENGAGEMENT
The Risk Advisory Council (RAC) for The Baldwin Group School of Risk Management and Insurance within the USF Muma College of Business is a dedicated group of industry professionals committed to advancing the school's mission Council members serve as ambassadors, representing the organization's work and values to the community They actively participate in meetings, contribute financially, and engage in prospective member activities Members stay informed about the university and the RMI program, making informed decisions on key issues and policies The RAC is supported with timely updates, opportunities for discussion, and responsive communication from the school, fostering a partnership toward the council's objectives
SHOUT-OUTS!
Patrick Del Medico, Shepherd InsuranceWorking with the Sarasota Association of Independent Insurance Agents to financially support the school.
Michael Franzese, RT Specialty - Galvanizing financial support from FSLSO to establish a travel fund for international travel
Stephanie Horne, First Watch RestaurantsCreating opportunities for students to engage with senior-level leaders at RiskWorld 2024 and speaking to RMI 4354 - ERM students
Elizabeth Krystyn, The Baldwin GroupOpening your doors for a student tour of The Baldwin Group Headquarters and Herd Funding to support the school
Keith Mercier, CBIZ Insurance - Next-level experiential learning leading students on a risk management tour at Mote Marine.
Dorothy Schrage, Great American Insurance Group - Inviting students to the Tampa Bay Mariner’s Club seminar and obtaining financial support for the school from this organization.
Matt Ostrander and Tonya Rivera FAIA Workforce Summit
Outgoing RAC members:
Thank you Dorothy Schrage and Paul Palumbo for your time, leadership, and commitment to the RAC.
INDUSTRYENGAGEMENT
Industry engagement and philanthropic support are key factors supporting the school's growth and our students' development. Partnerships with industry leaders offer students real-world experience and job opportunities. Financial support from our industry partners is critical as it allows the school to provide financial support to students in terms of engagement and scholarships.
FloridaAssociationof InsuranceAgents
Hosted the 2024 FAIA Workforce Summit at USF.
Two students participated on the student panel discussion
Provided a financial gift to the school
SpencerEducational FoundationandFMGlobal
FM Global offers financial support to the school through its course development grant program
Spencer Educational Foundation supplies high-quality and timely resources for funding, student growth and development, serving as a dedicated partner to the school
TampaBayRIMSChapter
Provides monthly opportunities for our students to attend industry seminars
Invited our students to participate in a tour of the Port of Tampa Taxi
INDUSTRYENGAGEMENT
LatinAmericanAssociation ofInsuranceAgents
Co-hosted a reception with the LAAIA at University of South Florida Muma College of Business.
Received a financial gift from this esteemed association.
ClassroomSpeakers
Dalton Crabtree, HSB Insurance Group
Corbyn Lichon, The Baldwin Group
Karyn Roeling, Seibert Insurance Agency
Students partner with Feeding Tampa Bay for community service.
Early financial donor with a strong, ongoing commitment to the school.
Amerisure Scholarship
Florida Surplus Lines Service Office
Donors to Elizabeth Krystyn’s Herd Fund
Dean Piccirillo Scholarship
SLB Insurance Group/ Darren Marsh
Sarasota Association of Independent Insurance Agents
FM Global/Spencer Educational Foundation
Florida Association of Insurance Agents
GAMMAIOTASIGMA-DELTABETACHAPTER
Gamma Iota Sigma (GIS) Delta Beta Chapter is a fast-rising student organization at the University of South Florida, that connects students interested in RMI with industry offering practical insights, and leadership, professional development, and networking opportunities through national conferences and experiential learning. Nurture Innovation Culture
Gamma Iota Sigma has a strong social media presence on LinkedIn and Instagram
GAMMAIOTASIGMA-DELTABETACHAPTER
Membership Growth: Fall 2023 - Spring 2024
Starting with just 11 members at the beginning of the academic year, the chapter saw a remarkable increase to 62 members by the end of the year This significant growth was made possible through effective marketing strategies, strong leadership, timely recruitment efforts, creating high-quality experiences, and positive recommendations from students through word-ofmouth.
Commitment to its members:
Experience Risk and Insurance
We “experience” risk with our experiential learning days, typically held on a Friday during the Fall and Spring semesters
Access to Industry Professionals Each Month
We learn from the best of the best! Each month, during our monthly meetings, we host a “spotlight” industry speaker sharing exciting information about the industry.
Give Back
We coordinate one to two community service days, each semester, to give back to our community. We roll up our sleeves and help others.
Opportunity to Travel to Conferences and Seminars
We offer an application process to apply to attend conferences around the country: GIS National and Regional conferences, RiskWorld, WSIA Student Symposium, and state/regional seminars.
Develop, Learn, Grow
We offer unique ways to learn and grow as a young professional. Our professional development experiences prepare students to enter the workforce with confidence
GAMMAIOTASIGMA-HIGHLIGHTS
Special Achievement Chapter Award presented at the National Conference in Baltimore, MD, awarded by Gamma Iota Sigma Grand Chapter
Community Service Projects
Experiential Learning
Monthly Meetings with industry professionals, “Spotlight Speakers”
Professional Development
Industry Connections
GIS conference representation: Regional and National
FACULTYSUPPORTANDDEVELOPMENT
During the past academic year, school faculty were active in research where they participated at international, national, and regional academic conferences.
Professors Po-Lin Wang and Boheng Su presented at the American Risk and Insurance Association (ARIA).
Prof. Randy Dumm presented at the 100th anniversary meeting of the German Insurance Science Association (Deutscher Verein fuer Versicherungswissenschaft)
Prof Randy Dumm served as a member of the executive committee of the ARIA board as the immediate past-president
Professors Wang and Steve Miller presented at the Southern Risk and Insurance Association meeting
Prof Miller was the keynote speaker at the Tampa Bay Mariners Club Seminar addressing the RMI talent gap and the emergence of AI This event took place in St Petersburg, FL, with four USF students attending the meeting
Prof Dumm served as the panel moderator for a session on The Butterfly Effect: AI and Risk Management at the St. Petersburg Conference on World Affairs. He also participated in an online panel on resilience and climate change that was jointly sponsored by The Institutes Griffith Education Foundation and the Center for Insurance Policy Research.
FACULTYSUPPORTANDDEVELOPMENT
The past year was one of progress toward increasing number of faculty to meet current and expected future demand for classes:
Prof. Boheng Su is transitioning from an assistant professor of instruction to an assistant professor (tenure-track) position.
Prof. Alex Schwartz will be joining the faculty this fall as an assistant professor of instruction.
Prof. Dalton Crabtree will be joining the school for the upcoming academic year as a visiting assistant professor of instruction.
Prof. Wang participated on a panel at The University of Georgia’s Doctoral Student Symposium.
Course Development Grant
The school received a development grant from the Spencer Foundation to develop a template for a Principles of Risk Management course Professors Miller and Su oversaw the development of this course template
FACULTYANDSUPPORTSNAPSHOT
Randy Dumm is the director of The Baldwin Group School of Risk Management and Insurance at the University of South Florida Muma College of Business. He previously held positions at Temple University and Florida State University and earned his PhD from University of Georgia. Dumm's research interests include catastrophic risk and insurance product performance. He has been recognized with awards and has been actively involved in various organizations and initiatives related to risk management and insurance
Steven Miller is an associate professor in The Baldwin Group School of Risk Management and Insurance with a background in consulting for corporate risk management. He led the risk management and insurance program at USF for four years and has received recognition for his work in the field Miller's academic research is published in various journals, and he holds a PhD from the University of Georgia
Po-Lin Wang is an assistant professor in The Baldwin Group School of Risk Management and Insurance. Before academia, he worked in insurance and asset management. His research focuses on mortality modeling, asset liability management, and insurance market discipline. Wang holds a PhD in Risk Management and Insurance, a master's degree in Math Finance, and bachelor's degrees in Applied Mathematics and Management Science
Boheng Su is an assistant professor in The Baldwin Group School of Risk Management and Insurance. Prior to joining USF, he conducted research on climate risk exposure and macroprudential risk assessment Su’s academic and research interests include risk management, insurance, corporate finance, and sustainable finance He holds a PhD in finance, a Master of Public Administration, and degrees in history.
FACULTYANDSUPPORTSNAPSHOT
Alexander Schwartz is an assistant professor of instruction in The Baldwin Group School of Risk Management and Insurance. Prior to joining USF, he worked for Liberty Mutual Insurance Group holding roles in commercial property and casualty underwriting and corporate project management. Additionally, he held an adjunct instructor position at Temple University within its risk management and insurance program Schwartz holds his MBA from New York University and his BBA from Temple University
Hailey Deschamps serves as the academic program specialist at The Baldwin Group School of Risk Management, where she plays a pivotal role in driving the school's academic initiatives and expansion efforts. An alumna of the University of South Florida, Deschamps holds a Master of Education in Curriculum and Instruction. Her background includes extensive experience in student advising, and she brings a deep passion for fostering student success
Kristi Hoskinson is the assistant vice president for strategic initiatives at USF Sarasota-Manatee. In her position, she oversees strategic engagement activities for the school, including marketing, Gamma Iota Sigma, and different student and industry interactions With a wealth of business leadership expertise gained from roles in insurance, government, non-profit, and the private sector, Hoskinson also established and managed her own consulting practice
TheDean’sOffice
“The insurance industry plays such a critical role in the resilience of our state, and I am proud of the partnerships built through The Baldwin Group School of Risk Management and Insurance to serve this important need.
USF works to advance the profession of risk management through dynamic academic programs, faculty research and community activities.”
David W. Blackwell, PhD
Lynn Pippenger Dean
University of South Florida Muma College of Business
THANKYOU
We express our deepest appreciation to the University of South Florida administration for their forward-thinking decision to establish The Baldwin Group School of Risk Management and Insurance. Karen Holbrook, GJ de Vreede, and Joni Jones' consistent dedication to developing and supporting this program has played a pivotal role in its achievements.
The unwavering support from these individuals towards the school, its various projects, and esteemed faculty has been crucial in meeting our academic objectives this year. Their commitment reflects exceptional leadership and foresight, qualities for which the school is truly thankful
LOOKING AHEAD
The upcoming 2024-2025 academic year is an important one for The Baldwin Group School of Risk Management and Insurance We are poised for continued growth as we seek the necessary scale to support our mission of educating the next generation of risk professionals and to be a leader in risk-related research and education in the Tampa Bay region and beyond.
We look forward to continuing to engage with our stakeholders to make the possible a reality. With their full support, we will continue to build upon the foundations laid in these formative years.
The story of The Baldwin Group School of Risk Management and Insurance is still being told We believe the future for the school is exceptionally bright, and we invite you along as we continue our journey!
RISK ADVISORY COUNCIL (RAC)
Austin Boyd, Boyd Insurance
Patrick Del Medico, Shepherd Insurance
David DeMott, Gridiron Insurance
Deb Franklin, Paychex
Michael Franzese, RT Specialty, LLC
Stephanie Horne, First Watch Restaurants
Elizabeth Krystyn, The Baldwin Group
Keith Mercier, CBIZ
Matt Ostrander, Ostrander Risk Partners
Paul Palumbo, Millennial Specialty Insurance
Benson Porter, United Healthcare
Tonya Rivera, Johnson & Johnson, Inc
Dorothy Schrage, Great American Insurance Company
Tim Wenzel, Zenith Insurance Company