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Digital EditionBuilding Risk Management’s Next Generation
The risk management and insurance industry has long grappled with a pressing concern: how to attract, develop, and retain the next generation of talent. Grassroots organizations have emerged to fill that gap, but many struggle to scale beyond the capacity of their volunteer founders. A new affiliation between the Young Risk Professionals (YRP) and The Institutes, finalized this year, aims to address that challenge head-on.
The affiliation, which became official in June, pairs a decade-old volunteer-led community of young professionals with one of the industry’s most established educational organizations.
“It was really focused on fostering the next generation of talent, which is incredibly important to The Institutes and to risk management and insurance in general,” said Susan Wisbey-Smith, group president, membership communities for The Institutes.
“The trait that really stood out to us is that it has been run by a dedicated group of volunteers who created it, grew it, and nurtured it over the years. It’s a truly impressive group of volunteers who saw a need to connect with one another and built this organization.”
A Grassroots Movement Built on Purpose
Young Risk Professionals was founded more than ten years ago, with its first chapter established in Dallas, Texas. What began as a local effort to connect emerging insurance and risk management professionals quickly spread across the country. Last year, the organization celebrated its ten-year anniversary with a summit in the city where it all started.
Today, YRP has grown to 27 chapters with two more currently being onboarded, and thousands of registered members across the United States. While membership skews toward professionals under 40, the organization has intentionally avoided strict age limits.
“We’ve never put a stamp on age,” said Alex Minto, the National Chair of Young Risk Professionals and founding chair of the Philadelphia chapter.
“There are people involved from a board standpoint who are in their early forties for different chapters, and that actually helps because it brings more expertise to the board and industry connections for sponsorship opportunities.”
The organization’s founders remain involved in an advisory capacity and have supported the affiliation with The Institutes throughout the process. That continuity, Minto said, reflects the deeper mission behind YRP; one rooted in relationships rather than transactions.
“I’ve been a part of YRP for a little over four years now, and the relationships I’ve built across the U.S. through this organization have shaped both my professional and personal life,” Minto said.
“Many of these people have become close friends. Seeing the dedication of board members across different chapters and knowing that their hard work will last was an important driver behind this affiliation.”
Why the Affiliation Made Sense for Both Sides
For The Institutes, the YRP affiliation represented a natural extension of its core mission. The nonprofit based in Malvern, Pa. is well known for its educational and certification programs such as the ARM (Associate in Risk Management) and the CPCU (Chartered Property Casualty Underwriter) designations. It has, in recent years, added a number of additional affiliates, including Risk & Insurance magazine.
“It dovetails nicely with what the Institutes focus on: educating, elevating, and connecting,” Wisbey-Smith said. “That’s exactly what YRP does, so it’s a nice fit.”
For YRP, the affiliation addresses a long-standing structural challenge. As a grassroots nonprofit built entirely on volunteer labor, the organization had reached a point where its ambitions outpaced its infrastructure.
“We’ve always had a strong partnership with The Institutes, and they’ve consistently supported us,” Minto said. “However, as a grassroots nonprofit built entirely on volunteers, we never had the foundation needed to succeed and grow at the level we’re truly capable of.”
The resources The Institutes brings to the table are significant. Members and prospective members now have access to additional educational opportunities, making professional development more accessible for working professionals and college students alike.
Just as importantly, YRP now has access to organizational structure, including finance, human resources and legal support that would have been out of reach as an independent nonprofit.
“The Institutes provide additional educational opportunities for our members, making resources more accessible to professionals and college students alike,” Minto said.
“They also offer organizational structure and legal support that we simply couldn’t afford as a grassroots organization. Having The Institutes backing us will enhance our longevity, allowing us to survive and thrive in a constantly growing industry.”
Freeing Volunteers to Focus on What Matters
One of the most immediate benefits of the affiliation is operational. The volunteer leaders who have carried YRP for a decade are now able to redirect their energy away from administrative tasks and toward the programming and connection-building that drew them to the organization in the first place.
“Until the affiliation, YRP was run entirely by an amazing group of volunteers,” Wisbey-Smith said. “The affiliation with The Institutes allows us to provide the operational support necessary to ensure continuity for YRP, so that it serves not only the current young generation but future generations as well.”
Wisbey-Smith emphasized that the goal is not to overhaul what YRP has built, but to reinforce it. The Institutes’ role is to handle the back-office work — bank accounts, tax filings, legal structure — so volunteers can focus on the mission.
“It relieves the volunteer leaders of a lot of operational tasks, allowing them to focus on events, programming, and cultivating connections,” she said. “We’re not trying to change it; — we’re just trying to stabilize, enhance, and grow it.”
That stability will be on display at YRP’s fourth annual leadership summit, scheduled for December 1-2 at the Chicago Marriott Downtown Magnificent Mile. The two-day event features a welcome reception, a full day of panelists and speakers, and the organization’s leadership and chapter awards.
“This will be one of the best lineups we’ve had, both in terms of speakers and content,” Minto said.
Looking ahead, the affiliation positions YRP to collaborate with other industry organizations on a stronger footing, while honoring the volunteer effort that built it. For an industry that frequently discusses the importance of talent development, the partnership offers a tangible example of how established organizations can support emerging ones without diminishing what makes them unique.
“The affiliation helps put us on a bigger platform and ensures the longevity of the organization,” Minto said.
“It also honors the hard work of our volunteers, including past national board members and others who came before me. That, to me, underscores the importance of what we’re doing.” &
To learn more, visit https://www.youngriskprofessionals.org/
