Student Essay Contest

The annual CICA Student Essay Contest invites two-person teams of college risk management, insurance and business students to write about an aspect the unique captive insurance.

Contest Details

The 2020-2021 CICA Student Essay Contest invited two-person teams of college risk management, insurance and business students to describe how and why a captive insurance company could be used as a cost-effective means of alternative risk financing.

Sponsored by:

Strategic Risk Solutions SRS Logo

In today’s hard market, businesses are looking for every advantage, and this year’s case studies reflect some of the creative opportunities to utilize captive insurance to manage risk and improve one’s bottom line.”

Dan Towle, CICA President

Saint Joseph’s University students crowned as CICA Essay Contest winners

April 14, 2021

Ashley Martin and Max Bernstein of Saint Joseph’s University were named winners of the 2020-2021 CICA College Student Essay Contest. Read the winning essays, interviews with each finalist team, and more in the story published by our official media partner, Captive Insurance Times.

About the Contest


The CICA 2020-2021 Student Essay Contest “Using Captive Insurance to Better Manage Risk, Improve Your Bottom Line”, sponsored by Strategic Risk Solutions, was intended to introduce students to captive insurance and the continually evolving uses of captives as a business advantage. Student teams had the opportunity to learn from and interact with mentors at Strategic Risk Solutions in learning about their case and understanding key considerations in developing effective captive solutions.

The Challenge

Student teams selected one of three case study topics for the competition. Students were asked to demonstrate how to establish a captive for their specific case study, select policy options, determine underwriting, pricing and more.

Contest Timeline

October 9, 2020 | 2 pm EST
SRS webinar for interested students. View the recording to learn about captive insurance and the case studies from experts at Strategic Risk Solutions

October 16, 2020
Intent to participate deadline. Student teams submit Intent to Participate Form. Note: you can still submit a final essay even if you did not submit the Intent form

November 13, 2020
Essay submission deadline. Student teams submit Final Essay Submission Form

January 11, 2021
Top three finalist teams notified

March 31, 2021 | 1 PM ET
Finalists present essays and first, second and third place are announced during webinar hosted by SRS

April 14, 2021
Finalist essays published by our media partner Captive Insurance Times & CICA post-conference

Contest Awards

Cash Prize

1st Prize: $2,500
2nd Prize: $1,500
3rd Prize: $1,000

CICA International Conference

Winning teams receive free registration and an opportunity to present.

Publication

Winning entries published by Captive Insurance Times and on the CICA website.

Official media partner:

Contest Rules

Teams: Insurance and risk management students worked in teams of 2 students per essay

Essay Length:
10 pgs. maximum Word document (double-spaced, 12 pt. font in Times New Roman or Cambria)

Prior Publication:
Essays may not have been previously published (online or in print) or be in consideration for publication elsewhere

Judging:
Essays were judged by a team of CICA Members. No more than one team per school can advance to top three

Case Studies

Case studies focus on developing strategies to help fictional organizations in real-world situations to develop captive solutions.

  • College Student Housing (CSH) – To address property damage of their student rental properties CSH wants to establish a captive and determine the best policies to offer for required renter’s insurance for college students living in their buildings.
  • Classic Auto Sales and Collision Centers – To address customers’ unique insurance needs by establishing a captive and selling them car insurance customized to the specific needs of classic car owners.
  • State Dental Association (SDA) – To provide cost-effective insurance options for its members whose businesses have been impacted by COVID-19, SDA wants to offer insurance through a captive to help members and improve the association’s bottom line.