Rio Salado College has received a $21,082 Spencer award made possible by a grant from the Sompo Foundation to expand learning and career-exploration opportunities for students interested in furthering their careers.
The college has been providing insurance and risk management education since 2019. The funding will support development of two new Risk Management and Insurance courses:
- INS242: Holistically Assessing Risk, will focus on identifying, analyzing and evaluating risk, and
- INS243: Successfully Treating Risk, will explore strategies for managing and treating risk, including risk control and risk financing.
The courses will build upon Rio Salado’s existing insurance curriculum and create a three-course risk management pathway with INS241: Risk in an Evolving World.
“Building risk management and insurance (RMI) knowledge at the community-college level gives students meaningful options: pursue rewarding industry careers after a two-year degree or continue into a four-year RMI program,” said Ken Goldstein, Executive Director of Award Programs, Spencer Educational Foundation. “It also creates a critical feeder system for university programs, where introductory RMI courses are not always part of the business core. We are grateful to the Sompo Foundation for investing in next-generation RMI talent and helping us grow student interest in an essential, high-impact industry with strong earning potential.”
The new courses are being developed to align with The Institutes’ Associate in Risk Management (ARM™) designation, a nationally recognized, examination-based professional certification administered by The Institutes for the risk management and property-casualty insurance industry.
The grant will also support efforts to introduce more students to the insurance and risk management field beyond the classroom. Elements may include student engagement and industry events, high school outreach and promotional activities, and summer camps focused on career exploration and pipeline development. Industry professionals may also participate through guest speaking, career panels, networking opportunities, mentoring and other student-focused activities.
“This grant gives us an opportunity to expand the pathway for students who are interested in insurance and risk management careers,” said Dr. Lily Davidov, Faculty Chair, Risk Management and Insurance. “By adding more advanced, industry-aligned courses, we can help students build practical skills while continuing to move toward their academic and professional goals.”
Together, the efforts are intended to give students more opportunities to learn about the industry, connect with professionals and explore potential career pathways while building practical, industry-aligned skills.
For students, the expanded curriculum means greater access to specialized, career-focused coursework that connects classroom learning with skills used in the insurance and risk management industry.
Rio Salado anticipates completing development of the new courses by Fall 2027. They will provide students additional electives as they pursue a certificate or degree, or an additional specialized pathway.
Students interested in insurance and risk management can learn more about Rio Salado’s degree, certificate and course options on the Insurance program page.
About the Sompo Foundation
Established in 2023, the Sompo Foundation is the philanthropic arm of Sompo International Holdings Ltd. (Sompo), a global provider of property, casualty, and specialty insurance and reinsurance. The Foundation supports strategic investments in social causes, coordinated charitable efforts, and targeted initiatives designed to create meaningful and lasting impact in communities around the world.
About the Spencer Educational Foundation
To learn more about the Spencer Educational Foundation and its programs, please visit www.spencered.org.