URMIA Innovative Solutions Award

Introduction

Enhancing Higher Education Risk Management

Risk managers generally and URMIA members specifically are a very engaged and thoughtful group. As such we are charged to develop, implement, and enhance processes and strategies that address the vast array of exposures that could be a threat to our institution’s missions. The diversity of URMIA member institutions, large and small, public and private, create an expansive laboratory for the development of effective and efficient programs. As in any collaborative environment, the results of those experiments should be shared and recognized.


Logo for the URMIA Innovative Solutions Award

Encouraging Innovation

URMIA is pleased to re-launch a program to recognize truly innovative solutions developed and implemented by our members.

For the purpose of the URMIA Innovative Solutions Award (UISA), an “innovative solution” is defined as an original or creative approach to address a specific risk management issue or challenge facing an institution of higher education. It can be a new process, revamping of an existing process or an “unconventional” technique to deal with a “conventional” issue. The bottom line; it is new and different and makes a positive impact in support of the mission of the institution.

The Honors Committee will seek nominations annually, but awards will only be presented in years when, in the sole judgement of the Honors Committee, a truly innovative solution is nominated.


Application Instructions

Deadline 8/1 Annually

Entries must be received by August 1 of this year.



Complete the Entry Form

Fill out an entry form comprised of the following sections:

  • Coversheet
  • Executive Summary: a description of the specific issue and action taken, including what makes the program truly innovative; cost of implementation; and end result of the program
  • Reference Materials: photographs, brochures, pamphlets, memos, posters, copies, samples, and examples of material used in the program

Submit the Entry

Send a single PDF file to Address of the URMIA National Office


Submission Criteria

In order to be considered by the Honors Committee, the submission shall include:

  • A thorough description of the nature and scope of the issue and why it required a truly new approach
  • A thorough description of the unique or innovative approach and how it is unique or innovative
  • The resources required, and cost of program design and implementation
  • Process by which the program was vetted, approved, and implemented
  • A thorough description of the potential or actual cost savings – reduced frequency, severity of loss, insurance cost reduction, and/or other tangible or intangible benefits to the institution
  • Applicability at other institutions with similar exposures

Review & Presentation Process

The URMIA Honors Committee will review program entries and select a maximum of three “finalists” and then the URMIA membership will vote to determine the winner. There will be a maximum of one UISA recipient each year.

Information on the selected finalists will be displayed on the URMIA website and featured at the annual conference. Finalists are to supply a presentation for distribution to the membership and to be shown at the annual conference. The presentation should consist of three slides with a 60-90 second recording describing the solution (URMIA can help support production).


Solutions from Past Recipients

Explore the innovative programs of award-winning institutions deserving of an URMIA Innovative Solutions Award.


Response to Submission

All program entries that meet the submittal criteria will be acknowledged by URMIA and receive a letter from the Honors Committee thanking them for participating in the program and recognizing the value of their efforts. Please see the Recognition section for a full description of program and an exciting offer!

Runners up and unsuccessful submissions will be eligible to resubmit the following year.


Evaluation Criteria

0-20 points identification of a specific risk management issue and what affect it has had (or would have) on the institution
0-50 points the extent to which it is truly innovative, the cost and method of implementation for the risk management program, its cost effectiveness, resulting savings or risk reduction realized from implementation, and/or other tangible or intangible benefits to the institution and communication to the college or university community
0-10 points organization and presentation of material for evaluation and review, and compliance with submission requirements
0-20 points applicability at other institutions with similar exposures