Timeline:

• Rolling Deadline (Reviewed Quarterly)

What is the Spencer Success Stipend?

The Spencer Success Stipend is a student support initiative created by the to help reduce financial barriers associated with internship opportunities in the risk management and insurance industry. The program provides funding to eligible students to assist with internship-related expenses that may otherwise make it difficult to participate in valuable experiential learning opportunities.

Through the Spencer Success Stipend, students may receive support for expenses such as housing, transportation, professional attire, technology, relocation costs, work-related meals, licensing or background check fees, and other direct internship participation costs. The goal of the program is to ensure students can fully engage in career-building experiences that strengthen their professional development, industry exposure, and long-term success.

Thanks to the generous support of Allied World and Munich Re, Spencer is proud to expand access to these opportunities and continue investing in the next generation of industry talent. Applications are reviewed on a rolling basis.

What Does the Spencer Success Stipend Support?

The Spencer Success Stipend is designed to help students overcome financial barriers that may impact their ability to fully participate in internship opportunities within the Risk Management & Insurance industry. Awards range from $1,000 to $5,000 and are intended to support direct internship-related expenses tied to experiential learning opportunities.

Eligible Expenses May Include:

Housing
Support for internship-related housing expenses such as rent, subleases, short-term leases, or housing deposits for students relocating during their internship experience.

Transportation
Funding may assist with airfare, gas, public transportation, parking, mileage, rideshare services, or other commuting expenses directly related to participation in the internship.

Work-Related Meals
Support for meal expenses incurred as part of the internship experience, particularly for students relocating or commuting long distances.

Technology & Professional Tools
Assistance with required technology or tools not provided by the employer, including laptops, software, headsets, or internet access necessary to complete internship responsibilities.

Background Checks, Licensing & Certifications
Support for required onboarding costs such as background checks, drug testing, licensing fees, or certification expenses connected to the internship opportunity.

Other Direct Participation Expenses
Additional internship-related costs may be considered if they are necessary for participation and directly connected to the internship experience.

Expenses Not Covered

The following expenses are not eligible for funding:

• Tuition

• General living expenses not increased by the internship

• Credit card debt

• Discretionary purchases

• Expenses not reasonably connected to internship participation

This program is designed to help students focus on learning, professional growth, and career development — not financial stress — while pursuing meaningful opportunities in the risk management and insurance industry.

Partnerships

Spencer is proud to collaborate with the remarkable companies listed below in this heartfelt initiative, dedicated to uplifting and supporting interns. Together, we are committed to fostering growth, empowerment, and a brighter future for students pursuing careers in the Risk Management & Insurance industry.

More Details

If you have any questions or would like additional information, please email Daniel Perez at daniel@spencered.org.

“During my time in college as a Psychology major, I discovered the fascinating world of Insurance. This exposure opened the door for me to secure an internship with Allied World.

Thanks to Spencer’s iCon University Program, I had the unique opportunity to travel across the country and participate in various industry conferences, where I also had speaking opportunities to share my insights. I regularly participated in Spencer's Virtual Campus, which further enriched my knowledge and contributed to my professional development. All these opportunities culminated in me being able to secure a full-time position with Allied World in their Underwriting Trainee Program upon graduation!

I wholeheartedly thank Spencer and Allied World for their unwavering support throughout my academic journey, which has been instrumental in shaping my career path. I truly appreciate everything they have done to help me reach this milestone.”

— Jada Bell, Student, Arizona State University

“As a rising junior accounting major at THE Jackson State University in Jackson, Mississippi, this opportunity has been nothing short of life-changing.

Through the Center for Insurance Transformation Internship Program, I was recruited into my first-year internship with Gallagher, specifically in the RPS Division. During my time there, I gained hands-on experience that allowed me to see firsthand what it's like to work as a specialty broker and underwriter. Being immersed in the fast-paced world of insurance opened my eyes to career paths I hadn’t previously considered, and it reshaped my perspective on the industry entirely.

This internship not only helped me develop professionally but also made me more confident and excited about pursuing a future in insurance. I now feel more prepared and inspired to continue growing in this field.

I want to extend my deepest thanks to the Spencer for making this possible, to Gallagher/RPS for welcoming and mentoring me, and to The Center for Insurance Transformation for believing in my potential. This experience has left a lasting impact, and I’m looking forward to what the future holds.”

— Ronrico Littleton, Student, Jackson State University