byGaganDeep
Updated on - 24 Aug, 2024
The MBA in Risk and Insurance is a 2-year full-time post-graduate management degree specialized in risk management and insurance. The curriculum offers more complex information and skills regarding such fields as risk assessment, actuarial science, insurance legislation, underwriting, claims processing. They also get practical experience through internships and projects to be undertaken for insurance firms.
The entrance tests that are considered for admission to MBA Risk and Insurance are CAT, XAT, MAT, ATMA, CMAT, GMAT, and NMAT. Any one of these standardized tests, academic record, work experience and the performance in group discussion and personal interview conducted by the institute come into play for screening the candidates. It is open to new entrants and those who have had a few years of experience in the job market.
| Event | Details |
|---|---|
| - Full Form | Master of Business Administration in Risk and Insurance |
| - Duration | 2 years |
| - Course Level | Postgraduate |
| - Eligibility | Bachelor's degree in any discipline |
| - Top Colleges | IIMs (Indian Institute of Management), IITs (Indian Institute of Technology), NMIMS (Narsee Monjee Institute of Management Studies) |
| - Entrance Exam | Entrance Exam conducted by respective colleges, CAT (Common Admission Test), GMAT (Graduate Management Admission Test), XAT |
1. A minimum of 50% marks in any discipline at the graduate level from any university recognized by the university granting the MBA degree is necessary.
2. Applicants should have 2-3 years of prior work experience preferably in the field of insurance, banking, financial services or risk management; however, fresh graduates are also welcome.
3. The CAT / MAT / XAT entrance tests / GMAT, and only valid scores for these tests. Certain colleges may also accept the scores of exams like CMAT, ATMA, UPSE, state level exams.
4. This process does not have any upper limit. It may be opted by fresh graduates as well as working professionals who need a career switch to the insurance industry.
5. Some required personal attributes include good quantitative, analytical and communication skills. Computer literacy is also essential as well as basic math skills.
6. Group discussion and personal interviews are mandatory for shortlisted candidates and these sessions help the selectors assess the candidate’s aptitude and interest in the insurance industry.
| Subject | Topics |
|---|---|
| Risk Management | Risk identification, Risk assessment, Risk mitigation, Risk transfer |
| Insurance Management | Insurance principles, Insurance products, Insurance marketing, Insurance claims |
| Financial Risk Management | Financial risk identification, Financial risk assessment, Financial risk mitigation, Financial risk transfer |
| Enterprise Risk Management | Enterprise risk identification, Enterprise risk assessment, Enterprise risk mitigation, Enterprise risk transfer |
| Statistical Analysis | Statistical concepts, Data analysis, Probability, Regression |
| Financial Management | Financial concepts, Financial statements, Financial planning, Financial control |
| Economics | Microeconomics, Macroeconomics, International trade, International finance |
| Electives | Risk modeling, Risk analytics, Insurance regulations, Reinsurance |
| Research Project | Research methodology, Literature review, Data collection, Research report writing |
Tabulated below is the collection of the Top Private Master of Business Administration [MBA] (Risk and Insurance) Colleges in India with Fee Structure, including their key features.
| Name of the institute | Location | Fees |
|---|---|---|
| Arunodaya University | Itanagar, Arunachal Pradesh | -- |
| Bharatiya Engineering Science & Technology Innovation University | Anantapur, Andhra Pradesh | INR 500,000 |
| Himalayan University | Itanagar, Arunachal Pradesh | INR 85,000 |
Tabulated below is the collection of the Top Government Master of Business Administration [MBA] (Risk and Insurance) Colleges in India with Fee Structure, including their key features.
| Name of the institute | Location | Fees |
|---|---|---|
| National Law University Jodhpur | Jodhpur, Rajasthan | INR 259,000 |
| Thiruvalluvar University | Vellore, Tamil Nadu | INR 80,000 |
| Banaras Hindu University | Varanasi, Uttar Pradesh | INR 300,000 |