MALVERN, PA — The Institutes has affiliated with Young Risk Professionals, a volunteer-led organization serving early-career insurance and risk management professionals, in a move aimed at strengthening workforce development as the industry faces ongoing talent shortages and succession challenges.
The not-for-profit organizations announced the affiliation this week. Financial terms were not disclosed.
The partnership integrates Young Risk Professionals (YRP) into The Institutes while allowing the organization to maintain its volunteer-led community. The Institutes indicated the affiliation will provide operational support so YRP leaders can focus on member engagement, education and chapter development.
The move comes as insurers and risk management firms continue to confront an aging workforce and increasing demand for qualified professionals.
“At a time when risk management and insurance continue to face talent shortages and a widening knowledge gap between newer professionals and experienced veterans, fostering the next generation of talent has never been more critical,” Peter L. Miller, CEO of The Institutes, stated. He added that YRP’s volunteer leadership would continue leading and growing the organization.
Founded in 2013, Young Risk Professionals has expanded to nearly 30 chapters across the United States. The organization has been operated entirely by volunteers since its inception.
YRP National Board Chair Alex Minto stated that the affiliation addresses the operational demands that accompanied the organization’s growth while preserving its community-driven mission.
National Board Vice Chair Joseph Cook described the agreement as providing long-term organizational stability while allowing volunteers to concentrate on supporting young professionals entering the industry.
The Institutes indicated the affiliation aligns with its mission to educate, connect and develop professionals across the risk management and insurance sector as employers seek to build a stronger pipeline of future industry leaders.
Support the local news that supports Chester County. MyChesCo delivers reliable, fact-based reporting and essential community resources—free for everyone. If you value that, click here to become a patron today.