Arkansas Insurance Hall of Fame board member pledges $100,000 toward scholarship endowment
An Arkansas Insurance Hall of Fame (AIHOF) board member and 2016 AIHOF inductee, Karen Yezzi, has pledged $100,000 toward the endowment fund of the Arkansas Insurance Hall of Fame.
Founded in 2014, the AIHOF was the brainchild of retired College of Business faculty Dr. John Bratton and Dr. Victor Puleo. The AIHOF’s mission is to identify and honor insurance professionals within the state of Arkansas whose leadership, innovation, and professional excellence exemplify the insurance industry.
The organization hosts a banquet each fall to induct outstanding industry professionals into the Arkansas Insurance Hall of Fame. The banquet also raises funds for scholarships, encouraging others to support students through donations. At each annual banquet, an average of four students enrolled in University of Central Arkansas’ insurance and risk management program are selected and given AIHOF scholarships.
“The Arkansas Insurance Hall of Fame Scholarship is more than just money for the students. The connections that the students make by networking with donors and other industry professionals provide a great opportunity for mentorship,” said Thomas Snyder, chair of the Department of Economics, Finance, and Insurance and Risk Management and professor of economics at UCA. “The more the students see the sincere passion and welcoming attitude of insurance professionals, the more they will want to join the community.”
As the banquet planning committee discussed the future of the Arkansas Insurance Hall of Fame scholarship, Yezzi and the other AIHOF board members decided to create an endowed fund that will award larger scholarships to students enrolled in UCA’s Insurance and Risk Management program. Over the course of the next three years, the AIHOF hopes to raise a total of $300,000 for the endowment fund. Yezzi was the first to pledge $50,000 toward the fund.
“I decided to make the first commitment to the endowment fund for the insurance and risk management department; it was to encourage others within the state to get on board to assure that we will continue to get students out of college and ready to join the workforce,” said Yezzi. “By doing an endowment, it’s permanent, and we know we can always have the money available to give these scholarships.”
During the 2023 AIHOF banquet, Wes Dyson ’08, chairman of the board, was pleased to make a surprise announcement. He explained that after Yezzi’s initial $50,000 pledge, she donated an additional $50,000 as a challenge gift, calling other inductees and industry leaders to pledge gifts as well. Industry leaders met the challenge and Yezzi’s efforts resulted in $185,000 raised for the new endowment fund.
Over the course of her 38-year career in the insurance industry, Yezzi has become a dedicated advocate for education within the insurance industry. She began her career in insurance at Fireman’s Fund Insurance Company. Having quickly advanced, she left in 1972 to work for an independent agency system. Since then, Yezzi has taught classes, presented seminars, and mentored many individuals seeking entry into the industry. Now retired, Yezzi continues to advocate for and contribute to education in the profession.
“Insurance is very near and dear to my heart and always will be,” Yezzi said. “It’s an integral part of the world economy, and we need to continue to educate and recruit students into this industry.”
To Yezzi and the other AIHOF board members, supporting students is critical to the success and growth of the insurance industry. The insurance and risk management major at UCA is one of the fastest-growing programs in the state. As Arkansas’ only insurance and risk management degree, this program serves as a valuable resource for the region’s insurance and financial services.
By integrating economic theory and financial principles with insurance and risk management, UCA’s program prepares students for a variety of careers within the insurance and financial services industry. Many of the students who enroll in the program begin receiving employment offers a semester before graduation, and around 90% of those students begin their careers 30 days after graduation.
Since its establishment in 2000, UCA’s Insurance and Risk Management program has doubled its enrollment. The program developed a new minor and freshman insurance course with plans to substantially expand its enrollment over the next two years.
“Insurance is the lifeblood of many individuals and businesses. Businesses just simply cannot function without insurance, nor can any individuals,” said Yezzi. “It is key that insurance professionals and insurance companies within Arkansas support the university as they continue to turn out qualified students who are ready to enter the workforce, ensuring the future of the insurance industry in Arkansas.”