MBA in Risk and Insurance Management

MBA Risk and Insurance Management is a 2 year postgraduate course focusing on the insurance industry. This course is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. 

This course provides knowledge of actuary science, strategic planning and other topics essential to effective management in the insurance industry. Students acquire the fundamental knowledge and the analytic skills to be able to deal with the problems of the insurance businesses. 

The course also opens career opportunities in private organizations and consultancies working in the fields of Risk and Insurance and governance. The course is also a good choice for a student who wishes to take on research projects and stick to the academic line of work.

The program trains the students in skills that can be employed to influence legislators and for forming Risk and Insurance policies that can be served for the better purpose of the organisation.

MBA Risk and Insurance aims to build skills that can be used in business, quantitative analyses, economics, finance, and management related and social problems. The program aims to build skills that can be used in Risk and Insurance, business, quantitative analyses, economics, finance, and management-related fields and social problems.

This course builds enhanced sensibility and capability skills in the students necessary to manage the risks  and systems better and familiarises them with the global trends and practices to allow exploration of innovative options and choices.

MBA in Risk and Insurance Management Course Highlights 

The table below gives highlights of the MBA Risk and Insurance course:

Why study MBA in Risk and Insurance Management?

MBA in Risk and Insurance is a 2-year post-graduate program especially for the candidates interested in the field of Risk and Insurance. In this course a student can learn a lot and can enhance their skills which will help them in their career and benefit the organisation. The candidates can benefit from MBA Risk and Insurance in various ways:

• MBA Risk and Insurance is specially designed to teach students about everything marketing.

• This course focuses on the financial risk and insurance aspect of business and management aims to train students on how to make sound financial decisions for companies or organizations. 

• Risk and Insurance helps in enhancing the professional as well as the personal growth of a student.

• MBA in Risk and Insurance will help the candidate gain in-depth knowledge of Risk and insurance of finance and related fields while also developing skills like data analysis and financial accounting.

• The candidates are required to have some raw talent of their own as well. Through this course, they can enhance those skills and acquire the necessary ones to have a start-up or a business of their own.

MBA Risk and Insurance Management Eligibility

All the candidates applying for the MBA Risk and Insurance program need to comply with the eligibility criteria prescribed by the college. The basic eligibility criteria are mentioned below:

• The candidates have to complete Bachelor Degree like, Bachelor of Commerce (B.Com), Bachelor of Business Administration (BBA) or any other Bachelor Degree with relevant subjects or equivalent stream or examination.

• Candidates scored minimum aggregate 50% marks (45% for SC/ST/PWD candidates, such candidates are eligible to take admission to the MBA Risk and Insurance program.

• To pursue this degree program, the candidates need to appear for the college or university level entrance examination too, which is further followed by the group discussion (GD) and personal interview (PI) round.

MBA Risk and Insurance Management Syllabus

MBA Risk and Insurance course syllabus may vary from colleges to colleges but the overall subjects will remain the same for the entire 2-year course duration. The Year-wise course breakup of this course syllabus is tabulated below: 

MBA Risk and Insurance Management Admission Process

MBA Risk and Insurance has become very difficult in today’s era. Candidates can follow a few steps in order to make the admission process less tiring and stressful. In most of the colleges or universities, admission is done on the basis of entrance exam and counseling sessions. Candidates can get admission in a good college if he follows these steps:

Step 1: A candidate should apply for various entrance exams such as CAT, MAT, GMAT, XAT, etc. online.

Step 2: After applying for such entrance exams candidates must appear for those as their marks obtained in these exams are very partly important for the admission to the course.

Step 3: Once the results are declared the candidates must make a list of preferable colleges and fill-in the admission form online.

Step 4: After the admission forms are filled, the university releases a list of short-listed candidates based on the cut-off marks and their merit in the entrance exams.

Step 5: Once a candidate is short-listed, they get a call from the institute for the procedure of the internal selection that includes one of these: Written Ability Test (WAT), Group Discussions (GD), and Personal Interviews (PI).

Step 6: Based on the overall performance, candidates are selected and they are required to deposit the mentioned admission fees which confirms the admission of the candidate.

MBA Risk and Insurance Management Jobs and Career Prospects 

• On successful completion of MBA Risk and Insurance, the postgraduates may have lots of prospective career opportunities in several reputed National and International companies. 

• MBA Risk and Insurance graduates can find jobs in the mid-level positions in any IT or ITES sector for technical and managerial functions. 

• They are hired as Insurance Underwriter, Risk Manager, Insurance Regulator, Insurance Representative, Actuary, Insurance Broker, Employee Benefits Manager, Insurance Claim Adjuster, Surveyor & Claim Settler, Consultant etc

Some of the most popular professional job profiles offered to the successful MBA Risk and Insurance postgraduates are listed below along with job description 

Conclusion

 Risk and Insurance Management play an integral role in securing our future, making them indispensable tools. Through the effective identification, assessment, and mitigation of risks, both individuals and organizations can minimize potential losses and maintain financial stability.

Risk management and insurance are important for protecting businesses and individuals from potential financial losses, and for providing peace of mind knowing that if a loss does occur, there will be financial assistance to help recover from it