Sorrell College RMI program opens XS Brokers innovation lab

Troy University's Sorrell College of Business has opened its newest Risk Management and Insurance innovation space, the XS Brokers Insurance Innovation Lab.

The ribbon-cutting ceremony capped RMI Week at Sorrell College, which began with a presentation by Alabama Insurance Commissioner Mark Fowler. The day also featured student presentations on the RISC + Summit Student Competition by Nico Crozier, Jaden Scrushy, Sabastian Funk and Tucker Bryant, and an industry roundtable and a career fair that brought insurance firms from across the region to campus.

The lab will accommodate about 40 students and provide space for classes, projects, guest speakers and exploration of emerging technologies, including artificial intelligence.

"The lab is going to hold about 40 students for classes, projects, guest speakers and, really, just provide a space where students can innovate and dig into AI, which is becoming a really hot topic across industries, but certainly in the insurance world," said Dr. Courtney Bass Baggett, director of the RMI program and an associate professor in the School of Creative Enterprise and Market Systems.

The lab was funded through a grant from XS Brokers, a national wholesale and binding intermediary specializing in personal and commercial property and casualty insurance.

Based in Boston, XS Brokers became involved with TROY after Executive Chair Adam Devine hired a graduate of the university's RMI program. Impressed by the graduate's abilities and professional preparation, Devine went on to hire additional TROY graduates.

"We've hired about 24 (TROY) students in the last five years — all currently still with us, so that's another proud moment: the retention factor," Devine said. "When I get involved in things — the competitive spirit, you know — we 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."

XS Brokers has supported the program in several ways, including providing guest speakers and participating in career fairs.

"Our relationship with XS Brokers really began from some of our students that had been placed with XS, and so it wasn't one that was in a leadership position," said Dr. Steve Grice, interim dean of Sorrell College. "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."

Grice said the lab reflects the value of preparing students for successful careers and building lasting relationships with employers.

"The importance of (the lab) 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," he said. "Those relationships come back home."

To view more photos from the day's events, click here.

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