Insurance & Risk Management Degree or Diploma

Some insurance and risk management degrees can be obtained online.

A degree in risk management can prepare students for a successful career in the insurance industry. Although a degree in risk management or insurance is not required to work in the industry, it can be helpful for those who are competing with other applicants who have degrees in other fields. According to Indiana State University's distance learning program, as of 2011, there are 36 colleges and universities nationwide offering a bachelor's degree in this field.

General Education

Undergraduate degree programs in insurance and risk management typically require students to complete general education courses in a variety of fields outside of insurance and risk management. These courses are designed to provide students with a well-rounded education and provide them with the necessary skills they will need in the insurance industry. For instance, most degree programs require coursework in speech and communication, which is an essential skill in all aspects of the insurance business. Other relevant courses include courses in math, English, sociology and psychology.

Core Business Courses

The courses offered by various insurance and risk management schools can vary according to the faculty's expertise. At the bachelor's degree level, many of the courses tend to be foundational business courses that provide students with a wide range of knowledge in the business sector. Typical areas of study can include coursework in operations management, marketing principles, business finance, building a successful business and coursework in different types of management information systems.

Insurance and Risk Management Courses

Beyond the core business courses, a number industry-specific courses are required as well. For instance, Ball State University requires 27 credit hours in specific insurance and risk management courses. Typical coursework includes areas like introduction to the insurance and risk management industry, life insurance, health insurance, insurance operations, commercial property risk management and liability risk in commercial property insurance.

Elective Courses

Most degree programs in risk management and insurance also allow students to pursue electives in areas of specific interest to them. For instance, students at Indiana State University can take courses in financial planning if they plan to offer that as part of insurance business. Other possible elective courses can include employee benefits and retirement planning and business planning and marketing.

References

• Indiana State University: Distance Learning
• Ball State University: Bachelor's Degree in Risk Management and Insurance
• University of Houston-Downtown: Bachelor of Business Administration in Insurance & Risk Management