Eight university teams compete in Spencer/RIMS challenge

Students from eight university teams will compete at the upcoming Risk and Insurance Management Society Inc.’s annual RISKWORLD conference in San Diego for the 2024 Spencer-RIMS Risk Management Challenge top honor.

The winning team will be announced at a Spencer Educational Foundation Inc. evening reception to be held May 6 during the conference.

The eight teams will present their findings in front of a panel of risk professionals May 5 based on a case study developed by risk executives at the City of Tukwila, Washington.

Students were asked to justify why the city should prioritize and support risk management; identify 3-5 initiatives to recognize and minimize the most significant risks to the city; and explain how they would incorporate enterprise risk management principles in all departments and get approval from internal stakeholders.

Teams from Appalachian State University, Durban University of Technology in South Africa, Illinois State University, the Institute of Insurance and Risk Management in India, Milpark Education in South Africa, Peking University in China, St. Mary’s University (Texas), and the University of Wisconsin-Madison were chosen to compete in the final rounds.

Some 144 students across 38 university teams representing nine different countries participated in this year’s Challenge.