InVEST history is told by a former student- Cheryl Koch, President & CEO – Agency Management Resource Group, Managing Director – Insurance Skills Center / IBA West
Abridged version of An Idea Ahead of Its Time—How One Man’s Vision Reshaped an Industry
Forty years ago, a visionary insurance agent by the name of Stephen R. Dach recognized the fact that the hunt for talent was one of the most important issues facing independent insurance agents. He believed that the ability to recruit, develop and retain the best people was the key to running the best insurance agencies in the future. And he could not have been more correct.
Steve Dach wasn’t just a man who had good ideas—the world is filled with those kinds of people, few of whom ever make any significant contribution to society. Steve was a person who wanted to change the industry he loved for the better, so he created a program to attract and train the next generation of insurance professionals. That program was called Project InVEST—Insurance Vocational Education Student Training. Steve believed that if you could capture a student’s attention at an early age and reveal to them the vast opportunities available in the insurance industry, that student would be intrigued enough to consider a career in insurance.
So, in 1970, he approached the Los Angeles Unified School District to see if there was any interest on their part in implementing such a program. Steve knew that many students who would graduate high school in Los Angeles would not go on to college, for a variety of reasons, many of which involved money. The basic idea behind InVEST was to spend an entire school year preparing students to run their own small business, and then help place them in independent insurance agencies as sales or service representatives. Should that student later decide to pursue a college education, the insurance agency could help by providing financial support and a flexible work schedule. The first InVEST program was started at Hollywood High School that year. It was an immediate hit with educators and students alike for its unique interactive and participatory curriculum.
So successful was the program that other school districts learned of it and wanted to incorporate it into their vocational or business curriculum. Within three years, InVEST had spread to Northern and Central California.
For a person with an entrepreneurial spirit, this was not only an opportunity, it was the ultimate challenge. Students have the opportunity to intern with a local insurance agency to spend some time in the “real world”, and are also taught the basics of insurance company operations such as marketing, underwriting and claims handling.
InVEST grew and grew until it could no longer be managed by the Los Angeles or California Independent Agents Associations. The program was then put under the auspices of IIABA, where it remains to this day. Although there are other industries that have created school-to-career programs, few can boast the success of Steve Dach’s InVEST program.
In 1989, IIABA created the Stephen R. Dach Award to recognize people in the industry who helped further Steve’s goals and vision for InVEST. I was shocked, honored, and humbled to receive the first award. Steve Dach had passed away, but I received a note from his widow, Anne, that ended by saying “Steve would be so proud”. I cherish that note, and his memory, to this day.
Decades later, as we all struggle with decreasing revenue, declining rates, and eroding profits, Steve Dach’s vision for InVEST is as relevant as it has ever been. For those of us who have had the honor and privilege to work in this wonderful industry, we owe it to future generations of insurance agents to continue the InVEST legacy. If you have an InVEST program in your state, get involved with it. If you don’t, contact InVEST to find out how you can be the Steve Dach for your state, and set people on a path to a rewarding career that will benefit us as agents and our clients.