By Mira Radovich, Senior Contributing Writer
Drones. Cyber-attacks. Big Foot. Your fantasy sports team. What might these have in common? If you answered insurance, you are correct!
Insurance is more than auto, home, health and life. Did you know that you can create a custom policy for anything that involves a clear financial risk or loss?
The intrigue of insurance and that fact that it is a multi-trillion dollar industry in the United States with growing career paths led Tennessee native Michelle Jordan to Rio Salado College’s online insurance program.
Meet Michelle Jordan
Currently pursuing Rio Salado’s risk management and insurance associate degree, Jordan is taking advantage of prior life experiences to forge a new career path.
When her employer presented her with a list of schools, Jordan studied her options and then chose Rio Salado.
“Rio was one of the most affordable schools, and they had a lot of career paths to choose from,” Jordan said.
She honed in on the insurance program after learning about available scholarship opportunities.
“During my first semester, I received an email from (Accounting Faculty Chair) Dr. Lily Davidov about scholarship opportunities in risk management,” Jordan said. “I already work in insurance on the customer service side and know there is a need for people in the industry.”
Davidov is already impressed with Jordan’s grit and determination.
“Michelle’s story is truly inspiring,” Davidov said. “She actively pursues every scholarship opportunity, faces challenges in her courses with resilience, and always asks for help when needed. She is a remarkable representative of our student population.”
Jordan was recently awarded the Arizona Risk Management Society (AZ RIMS) scholarship to help offset the costs of college tuition.
“It was a great honor to be recognized and selected for the award,” Jordan said. “Now I have enough financial aid and scholarship funding to work part-time and focus on school.”
“When I was younger and tried to attend school, I couldn’t make it work,” she said. “I was a single mom with two children and a full-time job. Now that my children are grown and have their own lives, I find myself at a place where I can pursue my dreams.”
Taking online classes proved to be a challenge for Jordan at first.
“Going to school online takes self-discipline and time management skills,” Jordan said. “It is easy to get behind if you don't manage your time wisely.”
Jordan is on track to finish her degree in 2026 and hopes to get a job in a specific insurance sector after.
“I want to work in underwriting or loss prevention,” Jordan said. “This degree will enable me to work into retirement and beyond if needed. Insurance is a solid career choice with substantial job security.”
Jordan, who was born and raised in Tennessee, is grateful and a bit surprised to be pursuing her degree at Rio Salado.
“Thanks to my previous employer, I ended up at an online school in Arizona, but I am so glad I got that list,” Jordan said. “Rio has been a perfect fit for me as a non-traditional student. The support and encouragement have been amazing and I look forward to my future.”
Want to learn more?
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Rio Salado’s certificate and degree Insurance programs
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Scholarship information for insurance programs – contact Dr. Lily Davidov
Interesting Insurance Facts from Statista.com:
- Job growth - The number of people employed in the property and casualty insurance industry in the U.S. in 2023 was approximately 680,500 and trending upward.
- Protect my stuff! While life insurance historically led the global insurance market, things changed in 2017 when the non-life segment (protection of material and financial possessions) achieved a market share of 53 percent.
- Got drone? Get insurance! The consumer drone market is rapidly increasing along with the chances of personal injuries or property damage occurring as a result of inexperienced drone pilots or faulty devices. The insurance industry has answered.
- Open insurance is poised to become the "the next big thing" in the industry. Similar to open banking, open insurance refers to insurance-related personal and non-personal data accessed via application interfaces.
- A growing need for cyber insurance - The number of annual data breaches in the U.S. has increased from 157 data compromises in 2005, to 3,205 compromises in 2023. The average cost of a data breach to U.S. business has increased from $3.5 million in 2006, to $9.6 million in 2024.
- What the heck is reinsurance? – Insurance for insurance companies is a critical component of the modern insurance industry. Today's environmental challenges and catastrophic events limit financing abilities. Reinsurance offers companies a refuge.
- We’re #1! - The largest insurance market in the world is the U.S. ($3.23 trillion in premiums written in 2023), followed by China ($7.24 billion) and the United Kingdom ($375 billion).