MBA: Insurance and Risk Management Specialization

Program Overview

Help organizations and individuals navigate risk.

Combine business knowledge and risk-management skills to protect organizations and individuals from catastrophe. Utica College's Master of Business Administration with an Insurance and Risk Management (IRM) specialization prepares you to understand the non-speculative risks faced by multiple stakeholders, as well as how to mitigate those risks. You'll graduate ready to ensure compliance and make a difference in businesses of all types and industries.

Combine business knowledge and risk-management skills to protect organizations and individuals from catastrophe. Utica College's Master of Business Administration with an Insurance and Risk Management (IRM) specialization prepares you to understand the non-speculative risks faced by multiple stakeholders, as well as how to mitigate those risks. You'll graduate ready to ensure compliance and make a difference in businesses of all types and industries.

Utica University Online tuition freeze badge

 
Pay 2020 Rates in 2021*. Tuition Rates will remain steady for the 2020-21 academic year.
*Tuition freeze is subject to change on June 1, 2021
 

CPCU Exam Waivers

Thanks to a partnership between Utica College and The Institutes, you have the opportunity to waive up to two corresponding chartered property casualty underwriter (CPCU) exams by earning a B or higher in approved Utica MBA courses. This benefit can save time and money toward your CPCU designation,¹ a recognized professional credential earned by individuals who specialize in risk management and property-casualty insurance.

 
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          Career Outlook

          Whether you're already part of the $5.3 trillion² insurance industry or launching a career in insurance, the strong critical thinking and analytical skills demonstrated by graduates of the Insurance and Risk Management MBA program are invaluable to employers. With your new knowledge base, you'll be prepared to pursue a number of different careers in general business or the IRM sector.

          Career Spotlight: Market Research Analyst

          As a market research analyst, you could evaluate large data sets to understand an organization's market position and other performance indicators. In financial and insurance organizations, you might provide statistical analysis and insights to determine the risk of a given business decision.

          Career Spotlight: Management Analyst

          As a management analyst, you may compile and interpret data to help businesses solve problems and ensure profitability. By analyzing financial and other data, you could make recommendations regarding company systems and operations that improve efficiency and mitigate risk.

          Other titles you may qualify for:

          • Risk Analyst
          • Claims Investigator
          • Cost Estimator

          JOBS AND INCOME

          Curriculum: From Life and Health to Finance and Investment

          At Utica, we've designed our IRM specialization to provide you with a breadth and depth of knowledge in the various areas of risk management. Through 18 foundational credits and 12 specialization credits, you'll gain expertise in risk management and insurance issues like life and health insurance, disability income, retirement, investment, and financial planning. Courses you could take to complete this specialization include:

          Course Spotlight: RMI 620 — Property & Casualty Risk Management for Business*

          Gain an understanding of property-casualty (PC) insurance and risk management issues for both commercial concerns and the individual or family. You'll analyze, compare, and contrast these PC issues for each type of stakeholder.

          *Utica College students can waive their choice of up to two of the national CPCU exams by completing these courses with a grade of B or better. The equivalent exam for RMI 620 is CPCU 557 Survey of Commercial Insurance.

          EXPLORE COURSES

          Course Spotlight: RMI 630 — Insuring and Managing Risk for the Person*

          Explore the many risk management and insurance issues individuals must deal with in today's world. You'll examine life and health insurance, disability income insurance, retirement, and investment and financial planning.

          *Utica College students can waive up to two national CPCU exams of their choice by completing these courses with a grade of B or better. The equivalent exam for RMI 630 is CPCU 555 Personal Risk Management and Property-Casualty Insurance.

           

          More Options for Your Degree

          Frequently Asked Questions

          Advancing your life and career with an online degree comes with lots of questions, and we want to ensure your search for answers is effortless. If you have a question we haven't covered, call (866) 295-3106 to speak with a program manager.

          You can finish this program in two years of part-time study. The curriculum is made up of 10 core courses, 4 electives in your chosen specialization, and one capstone—each of which requires eight weeks to complete.

          According to Poets & Quants, the outlook for graduates with an MBA is bright and getting brighter:

          • In 2017, the Corporate Recruiters Survey Report found that 86% of companies worldwide plan to hire recent MBA graduates, a seven percent jump from 2016.
          • Salaries are rising alongside job opportunities. The Graduate Management Admission Council reports 52% of employers increased their starting salaries for new MBA hires at or above the inflation rate.
          • In the U.S., the projected median starting base salary for recent MBA graduates was $110,000 in 2017, up $5,000 from 2016.
          • MBA degree holders are in demand across industries and sectors, as in-depth business administration knowledge is required in private, public and governmental organizations.

          Learn more about your career outlook with Utica College's MBA.

          As we created this program, we examined the current state of the business world and the leadership skills that organizations are looking for. Utica College's ACBSP-accredited online MBA program is designed with the needs of these modern companies in mind. Our real-world, application-based approach provides you with proven, relevant skills that are in demand in today's market.

          Plus, this program is flexible and designed to fit your life. You can learn 100-percent online, or you can attend classes on campus. You can engage in live virtual classrooms, or you can watch recorded lectures at your own pace. The way you learn is up to you.

          We also offer a variety of specializations for you to choose from, so you can tailor your learning to your career.

          No. Our online MBA is designed to help a wide range of students ramp up to business expertise. All students, regardless of background, take a pre-assessment test of core business topics.

          Students who do not have an undergraduate business degree will be required to successfully complete short self-study modules and accompanying exams on any topic areas in which they did not test well. These modules will provide students with the basic business knowledge needed to confidently enter our program.

          In addition, the core business classes in the first year are built to ground students in deep, relevant business knowledge.

          The online master of business administration offers you a variety of specializations to choose from. The knowledge you gain will establish you as an enlightened business leader with the breadth of knowledge necessary for data-driven, results-oriented decision-making. You'll choose from these specializations:

          • Finance/Accounting
          • Insurance and Risk Management (IRM)
          • Cybersecurity
          • Cyber Policy
          • Data Analytics
          • Entrepreneurship
          • Health Care Management
          • General: Select any four graduate-level courses and fashion your own elective.

          Learn more about the online MBA curriculum and specializations.

          This program costs $700 per credit and is composed of 30 credits. Learn more about tuition and financial aid for Utica's online MBA.

          SOURCES:

          The Institutes Risk & Insurance Knowledge Group (n.d.). CPCU Designation. Retrieved October 1, 2020, from https://web.theinstitutes.org/designations/cpcu.
          Statista (n.d.). Topic: Insurance industry in the U.S. Retrieved November 29, 2018, from https://www.statista.com/topics/3140/insurance-industry-in-the-us/.