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MBA: Insurance and Risk Management Specialization

Help Organizations and Individuals Navigate Risk

ACBSP Accredited

Small Class Sizes

Skills to Address Diverse Insurance Issues

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  • Duration 2 years
  • Cost per Credit $700
  • Credit Hours 30

Program Benefits

  • CPCU exam waivers
  • No GRE/GMAT required
  • 100% online coursework

CPCU Exam Waivers

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.

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.

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*

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

MBA: Cybersecurity

Specialize your MBA in cybersecurity gain an advanced understanding of cyber intelligence, and the impact cybersecurity networks, protocols, and associated systems have on institutions, privacy, business, and government.

MBA: Data Analytics

Specialize your MBA with a focus on data science. Use theoretical models in the collection, design, and analysis of quantitative and qualitative data, and the real-world process of creating and implementing solutions based on that data.

MBA: Entrepreneurship

Specialize your MBA in entrepreneurship. This customized program is ideal for strategic early-career or mid-career professionals who are motivated to bring a communication, information, or media business idea to fruition.

MBA: Finance/Accounting

Specialize your MBA and explore economic forces, how they relate to profitability and growth, and gain an introduction to managerial accounting and contemporary issues in cost management.

MBA: Health Care Management

Specialize your MBA in Health Care Management and graduate ready for the challenges of patient-centered care, plus gain a thorough understanding of the complex ethical and legal issues involved from an organizational level.

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 an enrollment counselor.

You can complete the MBA program in just 2 years. To see the curriculum, view our courses page.

The total estimated tuition for the MBA is $21,000. You can review all tuition costs here.

Utica College’s MBA program is accredited by the Accreditation Council for Business Schools and Programs (ACBSP). ACBSP’s student-centered teaching and learning approach, which is measured and analyzed for quality, ensures that students gain the right skills from their educational investment. Institutions with programs accredited by ACBSP are committed to continuous improvement that ensures their business program will give students the skills employers want.

The first step toward applying for the MBA program is to start your application. Then, you should start to gather required application materials such as a personal statement, two letters of recommendation, official transcripts, and a résumé. You can learn more about admission to the MBA here.

You’ll complete 10 courses in the MBA business core, and the remaining number of courses will depend on the specialization you select. You can review courses now.

Yes, you can choose to complete this program 100% online or in a blended format through recorded lectures and in-person or live virtual classrooms. This flexibility gives you the opportunity to get immediate instructor feedback in live sessions, 24/7 access to material through online content, and the ability to learn when and where it’s convenient for you. Read more about the MBA.

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Sources

  1. The Institutes Risk & Insurance Knowledge Group (n.d.). CPCU Designation. Retrieved October 1, 2020, from https://web.theinstitutes.org/designations/cpcu.
  2. 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/.