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MBA in Risk and Insurance is a 2-year postgraduate Banking and Insurance course, the minimum eligibility is Graduation from a recognized college or its equivalent exam. Admission in this course depends on the student’s performance in a relevant entrance test and the consequent round of counseling.

Few of the entrance exams that are led for admission into top colleges and universities include:

  • CAT
  • MAT
  • XAT
  • SNAP

Some of the top colleges and institutes which provide admission to (MBA) in Risk and Insurance are as follows:

  • SRM University, Kanchipuram
  • Amity University, Noida
  • NIMS University, Jaipur
  • Chandigarh University, Chandigarh

The average tuition fee charged for the course in India ranges between INR 10,000 to 10 lacs, for a span of 2 years.

MBA in Risk and Insurance consolidates solid central subjects in essential business disciplines with ability in overseeing authoritative risk. The concentration is given to the insurance industry, yet with an eye towards enterprise-wide risk management. A program gives the candidates knowledge of actuary science, strategic planning and other topics essential to effective management in the insurance industry. It is two years duration course and provides different types of jobs in various fields after its successful completion.

    By the end of the degree, students have acquired the fundamental and conceptual knowledge and the analytic skills to be able to deal with the problems of the insurance business within the economic context and the necessary skills in the field of adequately communicating and reporting. The course is suitable to prepare students for the insurance industry with a curriculum of business courses. The degree's main goal is to offer students the necessary knowledge and skills to be able to understand the present and future problems in the financial and insurance world, allowing them to find solutions and to work from their specific scientific background. They can also go for further higher studies if having interest in research work.

    Such graduates are hired in capacities such as Insurance Underwriter, Risk Manager, Insurance Representative, Actuary, Insurance Broker, Employee Benefits Manager, Insurance Claim Adjustor, Surveyor & Claim Settler, Insurance Regulator, Consultant etc. The average annual salary offered to such professionals ranges between INR 3 lacs to 20 lacs, increasing with students’ experience and expertise.

    Top Colleges for Master of Business Administration [MBA] (Risk and Insurance)

    • Master of Business Administration [MBA] (Risk and Insurance) in Uttar Pradesh
    • MBA/PGDM in Delhi-NCR
    • MBA/PGDM in Maharashtra
    • MBA/PGDM in Chennai
    • MBA/PGDM in Uttar Pradesh
    • MBA/PGDM in Telangana

    MBA in Risk and Insurance: Course Highlights

    Given below are some of the main highlights of the course

    Course LevelPost Graduate
    Duration of the Course2years
    Examination TypeSemester and Annual
    Admission ProcessEntrance exam and Merit Based
    Average Course FeeINR 10,000 to 10 lacs
    Average Starting SalaryINR 3 to 20 Lacs
    Top Recruiting CompaniesHDFC Standard Life-Insurance Co., Educational Institutions, SBI Life Insurance, ICICI Prudential, Tata AIF Life, Om Kotak Mahindra, Birla Sun-Life, ING Vysya Life, Reliance etc.
    Top Job AreasInsurance Companies, Academic Institutions, Research & Consultancy Firms, Banks, Finance Institutions, Corporate Finance, Corporate Banking, Credit Risk Management, Derivatives Structuring etc.
    Top Job PositionsInsurance Underwriter, Risk Manager, Insurance Representative, Actuary, Insurance Broker, Employee Benefits Manager, Insurance Claim Adjustor, Surveyor & Claim Settler, Insurance Regulator, Consultant etc.

    MBA in Risk and Insurance: What is it all about?

    MBA Risk and Insurance focus furnish the candidates with the aptitudes needed to contend in a worldwide economy where the convenient understanding of consistently changing money related data is basic to business achievement. Through this concentration, the candidate will pick up top to bottom financial knowledge and skills to help make those interpretations. MBA Risk and Insurance graduates work in Insurance, saving money, budgetary administrations, monetary supervision, corporate fund, counselling, venture administration and numerous different controls.

    The main focus of this course is directed towards the enterprise-wide risk management and insurance industry. MBA in Risk management provides students with the essential knowledge regarding actuarial science and strategic planning.

    This MBA degree will teach aspirants all about the relevant business practices and organizational liability. Topics that will be taught in the college will be inclusive of financial and corporate insurance risk, the general structure of the insurance market, significant aspects of this industry, Insurance Underwriting, the significance of risk management function within business organizations, and many more topics like these.

    Individuals are provided with the in-depth knowledge of the financial impact of employee benefits and they study risk management as that would help in financial derivatives, speculative markets, and other strategies.

    They should possess strong communication and leadership skills, decisiveness under pressure and an inherent curiosity, etc. They should have an excellent grounding in financial analysis, creative thinking and should possess good communicative and interpersonal skill. They should be up to date with the subject knowledge and the current global national financial scenario and its related areas. They should have a broad understanding of business which is essential for it. Proficiency in any foreign language is an added advantage in this profession.

    MBA in Risk and Insurance: Top Institutes

    Given below are some of the top institutes in India that offer the course

    Pondicherry UniversityPondicherryINR 37,200
    Ambedkar Institute of management studies(AIMS)VishakhapatnamINR 1,40,000
    SRM UniversityKanchipuramINR 3,05,000
    Amity UniversityNoidaINR 1,70,000
    NIMS UniversityJaipurINR 1,13,000
    Chandigarh UniversityChandigarhINR 1,59,000
    ICFAI UniversityJaipurINR 80,500
    Symbiosis University of Applied ScienceIndoreINR 5,05,000
    ISBM UniversityRaipurINR 48,000
    ICFAI Business SchoolHyderabadINR 6,25,000
    Jawahar Lal Nehru Technological UniversityKakinadaINR 30,000
    Amity UniversityMumbaiINR 3,44,000

    MBA in Risk and Insurance: Eligibility

    A candidate should have passed Bachelor’s Degree or Master’s Degree from any recognized University with minimum 45% marks in aggregate or any other equivalent qualification.

    MBA in Risk and Insurance: Admission Process

    Generally, admission to an MBA program is through any one of the nationally conducted entrance exams like CAT, MAT etc.

    For Admission to Risk and Insurance degree, students will have to appear in any one or more of the nationally conducted entrance exams. On the basis of performance in the entrance test, Group Discussion, and Personal Interview, management Institutes prepare a shortlist of students for admission. Some weight is also given to marks scored in Higher Secondary and Graduation level examination.

    Below are the few entrance tests that are conducted by some of the Master of Business Administration Risk and Insurance colleges in India:

    • CAT
    • MAT
    • XAT
    • SNAP

    MBA in Risk and Insurance: Syllabus and Course Description

    A year-wise breakup of the course’s syllabus is tabulated below.

    Year IYear II
    Principles and Practice of Life and General InsuranceLiability Insurance
    Risk ManagementLife Insurance II
    Life Insurance IMotor Insurance and Agricultural and Mis. Insurance
    Fire InsuranceInvestment Planning and Management
    Marine InsuranceMarketing Financial Services

    MBA in Risk and Insurance: Career Prospects

    Usually, graduates with knowledge in both finance and management are employed by banks for various posts based on All India Examination. Although finance and management graduates may have an edge over other applicants, any applicants from any stream are eligible to enter this field by qualifying the entrance exams which are being conducted by banks every year. At senior level banks opt for experienced bankers.

    Generally, banks look for those students who have good communication skills and have the ability to handle customers and possess basic knowledge about the industry. One needs to specialize in certain specific areas such as credit appraisal, loan and foreign exchange to be eligible for joining an overseas bank or private sector bank at senior level positions.

    Risk ManagerRisk Manager is in charge of managing and analyzing risk management problems by measuring, identifying, and making decisions on operational or enterprise risks for an organization.INR 9 to 10 Lacs
    Risk Management ConsultantRisk Management Consultant is in charge of accessing as well as identifying potential hazards that may hinder the safety, reputation, security, and financial prosperity of an organization.INR 7 to 8 Lacs
    Senior Risk ManagerSenior Risk Manager is in charge of identifying risks that a business is exposed and finding ways to eliminate such risks.INR 10 to 12 Lacs
    Financial ManagerFinancial Manager is in charge of working within private and public sectors for providing financial advice and undertaking related accounts services.INR 9 to 11 Lacs
    Financial AdviserFinancial Adviser is in charge of helping customers plan short as well as long-term financial goals. These goals may involve retirement and education.INR 3 to 4 Lacs

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