Sorrell College cuts ribbon on risk management and insurance lab

The Sorrell College of Business at Troy University recently cut the ribbon on its XS Brokers Insurance Innovation Lab in John Robert Lewis Hall.

Dr. Courtney Baggett, director of the Risk Management and Insurance Program and associate professor, said the new lab would put cutting-edge risk management tools in the hands of students. She said the partnership between Troy University and XS Brokers Insurance Agency Inc. had been extremely successful and XS Brokers invested in the university to strengthen the partnership.

Evan Legassey was the first Troy graduate hired by XS Brokers, in Boston, Mass. Since his hiring, 24 more Troy graduates have gone to work for XS Brokers and still remain employed with the insurance firm.

Adam Devine, the Executive Chair of XS Brokers, serves on the Risk Management and Insurance (RMI) Advisory Board at Troy University. Devine said the curriculum, as well as the students and their work ethic quickly resonated with him, so we at XS Brokers dove in and started recruiting from Troy.

"We've been thrilled since that point. We've hired about 24 students in the last five years, all currently still with us, so that's another proud moment, the retention factor," Devine said. "And also, when I get involved in things, the competitive spirit, you know, poured in financially a little bit to try to help out, and that's kind of what we've done, so it leads us here today."

Baggett said the XS Brokers Insurance Innovation Lab will help prepare students to enter the insurance industry.

"We're really hoping to get [the student] some hands-on experience," Baggett said. "We've already got plans with XS Brokers to work on some real projects in our spring semester. We'll have a couple of their executives come down, give the students a real problem that the firm is managing right now and let the students get creative."

She said the end goal was to help students with job placement.

"Our students have phenomenal job placement already," Baggett said. "But I think it's going to give them an edge in the sense that they're getting that hands-on, real-world experience beyond the textbook exposure. And they're going to get to interface with industry professionals, not only through internships and career fairs, but in their classes and in their regular weekly meetings."

Dr. Stephen Grice, interim dean of the Sorrell College of Business, said the partnership between Troy University and XS Brokers is an example of what well-prepared students can help accomplish.

"Our partnership with XS Brokers is really a neat story," Grice said. "Because our relationship with XS Brokers really began from some of our students that had been placed with XS. So it wasn't an alum that was in a leadership position, but our students got there and they worked really hard and impressed the executives of the company. And now the next thing you know, they're here on campus recruiting our students. And so the importance of it is that it demonstrates what happens when we do a good job as a college of business in preparing our students to do work in their profession, and then they go out and work hard and develop those relationships, and that comes back home."

Devine said the lab would help prepare future students for the workforce.

"Obviously having our name attached to it is great, something we're really proud of," he said. "It's humbling, but we're super honored to be part of this and watch the future generation of insurance leaders take place."

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