BCIT General Insurance and Risk Management students win second place in international competition

BCIT General Insurance and Risk Management students Neet Aujla, Jared Cummins, Lanai Kovacs, and Brittnée Cox recently won second place at the 2023 Spencer-RIMS Risk Management Challenge, competing against 24 participating teams from all over the world, including teams from Canada, United States, China, India, and South Africa. This marks BCIT as the only Canadian team to make it to the top eight places.

The Spencer-RIMS Risk Management Challenge is an eight-month-long competition with post-secondary teams competing to develop and present the most comprehensive Risk Management program based on a company’s case study.

After submitting a Risk Management Report, the top eight teams are invited to move forward into the second phase of the competition, developing and delivering presentations in person. The in person component of this year’s competition was held in Atlanta, Georgia.

The BCIT student team showcased their practical skillsets and real-world competence developed in the General Insurance and Risk Management (GIRM) program by providing risk management strategies and recommendations to industry leaders and executives from their selected case study, Southeastern Pennsylvania Transportation Authority (SEPTA).

The team of four came together under the mentorship of the GIRM Program Head Shaun Sinclair. Aujla, Cummins, Kovacs, and Cox began the competition with thorough research focused on Southeastern Pennsylvania Transportation Authority.

After spending nearly three months researching and writing a paper that impressed the judges, the team was selected to move on to the next phase and travelled to Atlanta as a part of the shortlist of eight teams.

Sinclair commented that the team’s win in the competition demonstrates the effectiveness of the program’s applied, hands-on learning model. Indeed, Aujla shared that one of the key takeaways for her from the competition was meeting other competitors and realizing the strength of the BCIT GI&RM program in equipping them with relevant skills and knowledge to provide innovative solutions to challenges faced by industry.

“We do three of the Canadian Risk Management Designations throughout the program as well, so you come up with 11 insurance-related and risk management courses, which is very different from even university programs within the US.”

Aujla adds, “A lot of the students that we were able to network with and speak to came out of a four-year degree program with maybe a maximum of three to four insurance courses altogether. We’re quite advanced in the fact that we’re learning so much about insurance throughout our two-year diploma program.”

The General Insurance and Risk Management Program Advantage

The GI&RM program offers several unique benefits, with students earning a two-year diploma and their Canadian Risk Management (CRM) designation, providing hands-on training closely connected to the needs of the industry. Throughout the program, there will be many opportunities for students to interact with industry professionals at networking and industry events.

Students will also benefit from a 40-hour work placement, providing them with work experience in the industry. In their course of study, students will complete 8 of 10 Chartered Insurance Professional (CIP) courses. Upon successful completion of the program, graduates also have the option to continue studies for another year to ladder into a BCIT Bachelor of Business Administration degree.

Graduates are in high demand by employers, with a 98% employment rate (BC Students Outcomes, prepared by BC Stats, 2022), and go on to work in insuring clients such as construction, marine risks, commercial underwriting, personal lines underwriting, as well as claims adjusting and risk management.

Sign-up for an online information session to learn more about the BCIT General Insurance and Risk Management program.