For over two decades, the ICT Education Foundation, a 501(c)(3) non-profit charitable organization, has nurtured and supported the next generation of insurance professionals by raising and distributing over $1.5 million in scholarships, to 727 Texas students aspiring to build a career in the Property and Casualty (P&C) industry, and educational funding to 12 Texas universities. Our generous supporters include insurance companies, reinsurers, law firms, and other industry groups, as well as individual industry professionals.

The Foundation is governed by a volunteer 11-member board of trustees representing a diverse set of backgrounds and experiences and takes immense pride in our efforts to advance insurance education and careers. The board sets direction for the Foundation and collaborates with our partner universities to provide financial support and resources while identifying and encouraging students focused on pursuing a career in our industry.

This 2023 ICT Education Foundation Impact Report commemorates the achievements of the past year and serves as a tool for our supporters, partner universities, ICT members, and the public to understand the importance and results of this effort. Last year, we gave 40 scholarships totaling $75,000 to students at our partner universities and provided our partner universities $29,600 to support their education programs and student activities. We also visited with insurance classes at the universities to talk about the state of the Texas property and casualty market and career opportunities in property and casualty. In July 2023, we had the honor of hosting a group of students as part of the ICT/AFACT Property and Casualty Symposium to provide them with an opportunity to hear about the latest industry issues and network with industry professionals.

We cannot overstate the pivotal role played by professors and educators at the nine Texas universities to encourage learning and explain the nuances of insurance to the students. Their dedication to education and collaboration has significantly contributed to the Education Foundation’s success, and we express our sincere gratitude to each of them.

In closing, we appreciate the numerous individual donors and companies who provide the financial support that makes the Education Foundation’s work possible. But we always could use more help as we seek to sustain and, where possible, grow this program. If you know of a colleague interested in supporting the Education Foundation, or if your company is not a supporter but would like to be a part of this philanthropic effort, kindly share this report, and encourage them to join the effort. If you haven’t contributed before, consider joining us in continuing to build a strong future for our industry.

Albert Betts, Jr.
Executive Director, Insurance Council of Texas