Minnesota Insurance Hall of Fame Expands, Inspires Students

The Minnesota Insurance Hall of Fame recently welcomed eight new members at its second annual induction ceremony at the University of St. Thomas, bringing together leaders from across the insurance, risk management and actuarial fields while creating networking and scholarship opportunities for St. Thomas students.

The Center for Risk Management and Insurance at St. Thomas launched the Minnesota Insurance Hall of Fame in 2024. The induction ceremony both recognizes industry excellence and supports students through scholarships tied to introductory risk management and insurance courses and extracurricular resources.

Guests mingle at a social hour before dinner at the Minnesota Insurance Hall of Fame Induction 2025 outside of Woulfe Alumni Hall — Guests mingle at a social hour before dinner (Photos by Brandon Woller ’17 / University of St. Thomas)

The Hall of Fame is “a great thing,” said Mike Axtell, professor of mathematics and actuarial science and assistant director, Risk Management & Insurance Program, “because the insurance industry is huge in Minnesota and is a really important industry for the state.”

The Minnesota Insurance Hall of Fame was created “to celebrate the achievements of those who have advanced the insurance industry in Minnesota. Selection is based on professional excellence, mentorship, innovation and community service” said its founder Dan Riley, who serves as executive fellow and director.

President Vischer speaks with guests at the Pre-dinner social hour at the Minnesota Insurance Hall of Fame Induction 2025 — President Vischer speaks with guests at the pre-dinner social hour at the Minnesota Insurance Hall of Fame Induction 2025 (Photos by Brandon Woller ’17 / University of St. Thomas)

“This event represents more than personal accolades for the inductees; it is a unique opportunity for them to inspire and mentor our St. Thomas students studying risk management and insurance.”

It is a unique opportunity to inspire and mentor our St. Thomas students."

Dan Riley

St. Thomas serves as host and facilitator because of its Center for Risk Management and Insurance and strong partnerships. The center, jointly connected to the College of Arts and Sciences and the Opus College of Business, collaborates closely with Gamma lota Sigma (GIS), the St. Thomas international business fraternity chapter that specializes in insurance and risk management.

Axtell said the Hall of Fame directly supports students through scholarship funding and outreach.

“Everything we raise at the Hall of Fame that doesn’t go toward expenses gets funneled into student scholarships,” he said. Students also receive networking opportunities with professionals, as students in the programs and the GIS club are invited to attend the Hall of Fame banquet.

Laura Dunham, Dean of Opus College of Business speaking to attendees at a podium — Laura Dunham, dean of Opus College of Business, speaks at the Minnesota Insurance Hall of Fame Induction 2025 in Woulfe Alumni Hall (Brandon Woller ’17 / University of St. Thomas)

In addition, GIS and Risk Management and Insurance students and attendees can attend a Nov. 6 career fair on campus. The center also encourages students to explore the field through their introductory Risk Management and Insurance course and to get involved with the campus GIS chapter.

Axtell emphasized the strong demand for emerging talent.

“The industry’s facing an enormous labor shortage over the next 10 years,” he said. “There are so many great possibilities for a student.”

Risk management and insurance currently is offered as a 12-credit certificate from the College of Arts and Sciences and the Opus College of Business.

Axtell noted the center's long-term growth goals from the current certificate offering into a minor, and eventually, a major. He added that the Hall of Fame expects to expand its scholarship reach as risk programs grow statewide.

Aspen Erickson speaks at the Minnesota Insurance Hall of Fame Induction 2025

Richard Lett speaks at the Minnesota Insurance Hall of Fame Induction 2025 in Woulfe Alumni Hall

“This year’s inductees embody the best of our profession – vision, commitment and service that will continue to inspire future generations,” Riley said.