The Australian and New Zealand Institute of Insurance and Finance and the Insurance Council of New Zealand have opened their annual scholarship for submissions.

The program aims to recognise a New Zealand insurance professional with outstanding business and leadership skills. It offers a $NZ10,000 ($8937) prize to attend an international conference.

Institute CEO Prue Willsford says the scholarship, which is open to under-35s, will help foster the next generation of insurance leaders.

Applications, requiring submission of a 2500-word essay, close at 5pm Auckland time on November 7. See the institute’s website for more details.