The first Gamma Iota Sigma chapter was developed out of the founding members’ desire for an advocacy group and networking resource for business-oriented students with more significance than a standard social club. The archetypal Gamma Iota Sigma member is highly motivated to pursue a risk management-oriented career and wishes to develop a network of mutually beneficial relationships with like-minded professionals in multiple fields.
Currently, Gamma Iota Sigma is the only insurance, actuarial science and risk management-oriented business fraternity that operates on an international basis. The fraternity is officially recognized as a 501(c)(3) educational organization, and currently 72 chapters have been established throughout the nation.
What Is Gamma Iota Sigma Primarily Focused On?
Gamma Iota Sigma is categorized as one of the leading organizations with a concentrated focus on innovative actuarial science and international risk management practices. Because businesses in virtually every niche are highly dependent upon the quality of their owners’ skill at leveraging risks to rewards, the organization’s emphasis on risk management is applicable to a wide range of different professions.
In addition to actuarial science and international risk management, Gamma Iota Sigma also places a fair degree of emphasis on insurance practices. If there could be a guiding principle identified as one that Gamma Iota Sigma comes the closest to prioritizing over all others, it is the value of developing well-advised contingency plans for business endeavors with an inevitable margin of error.
While primarily focused in insurance and risk management, the organization is largely interdisciplinary in nature and opens its doors to all who have a shared interest in learning and networking. The organization’s founding members hoped that the juxtaposition of young professionals would result in a more beneficial and well-rounded spread of interconnected professionals in a diverse variety of highly specialized practices, ideally improving the professionals’ levels of insight and worldliness across the board of global careers.
The organization is largely epistemological in nature, placing a particularly strong emphasis on the constant pursuit of knowledge for both personal enrichment and professional development.
It was the incorporation of the Griffith Foundation for Insurance Education that spearheaded a more heavily supported push for an official national scholastic insurance fraternity. Grand Chapter President Warren L. Weeks was the Griffith Foundation trustee who led the charge for the organization to be nationally recognized, and to date, an annual scholarship in his name is presented to one of the Gamma Iota Sigma’s student members.
Following the 1965 incorporation of the Griffith Foundation, a petition developed by Ohio State University’s OSU Insurance Society in the following year resulted in the establishment of the first Gamma Iota Sigma chapter. Gamma Iota Sigma’s Beta chapter was chartered at Bowling Green State University in the year following the Alpha chapter’s creation. Two years after the chartering of the Beta chapter, the fraternity’s Gamma chapter was chartered at the University of Cincinnati. Since its incorporation, Gamma Iota Sigma has produced over 20,000 alumni and holds a student membership count of over 4000.