The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) and the Insurance Council of New Zealand (ICNZ) are accepting submissions for this year’s scholarship.

The award recognises leadership potential in young insurance professionals from New Zealand.

The winner will receive NZ$10,000 ($9,177) to attend an international industry event, leadership conference or seminar program.

“The ongoing development of our industry is critical to ensure we meet the ever-evolving insurance needs of our communities and customers,” Tim Grafton, ICNZ CEO said.

The competition is open to employees and members of ICNZ and participants must be citizens or permanent residents of New Zealand under the age of 35.

Entrants submit a 2,500-word essay on this year’s topic, discussing whether "systemic, global risks such as pandemics cannot be diversified, are virtually impossible to model and so are uninsurable” and any changes the insurance sector could make in response to future systemic risks.

Applications can be made here and close October 15. The winner will be announced in December.