Risk Management

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Risk Management is the category of MBA which includes the assessing, applying and defining cross-utilitarian choice which shall permit a firm to finish its objectives and calculated goals. It concentrates on the procedure of technique blend, goal, and speculation part in key plan. This zone covers the latest patterns in risk management, including the difference between the methodology of making system and actualizing a procedure. Hazard Management syllabus incorporates courses in Entrepreneurship, Leadership, Economics, Business Strategy, Business and Networking Technology.

A Master of Business Administration (MBA) Program in Risk Management trains the students to recognize and minimize potential dangers involved in both Public and Private Sectors. The MBA in Risk Management consists of a number of central subject in essential business disciplines with skill in overseeing authoritative danger. More attention is paid to the functioning of the Insurance industry, also along the line keeping in mind the risks involved in other fields of management and sectors of the firm.

Insurance and Risk Management: The two faces of the same coin?

The Course is also linked in the levels of insurance with risk management. In many of the Indian Management Institutes, Risk management is offered with a collaborated specialization in Insurance management. So the course is popularly known as Insurance and Risk management. Apart from that the MBAs is Risk management are also employed by many Insurance companies to analyse, assess and formulate risk free policies for the clients and the firm. As a specialization Risk management ( also known as Insurance and Risk management ) is suitable for the individuals who wish to propel their profession in the Insurance industry at national and worldwide level. But it does not mean that the Insurance Industry is the only career option for the MBA in Risk Management. The MBA programme gives the students the administrative and specialized skills to propel in the matters of Risk, Insurance, Finance and Counselling.

Topics taught under Risk Management in MBA

While the basic subjects offered in any MBA syllabus forms the basic topics for those in Risk Management , but apart from that a few other topics, focusing on the aspect of Risk Management are also taught. They are:

  • Enterprise Risk management

  • General Insurance

  • Operational Risk Management

  • Computer Software

  • Statistics

  • Group Insurance, Health Insurance, Mediclaim Insurance

  • Economics

  • Mathematics

Career in Insurance and Risk Management

MBA in Insurance and Risk management is a fast growing MBA program, with many people taking up this course as a career option. They specialize in this stream and looks for a future with it. The following are a few of the career one can pursue after acquiring an MBA in Insurance and Risk Management.

  • Benefits & Wage Manager

  • Organizational Planning Director

  • Risk Management Consultant

  • Labour Relations Manager

  • Inventory Administrator

Indian Institutes offering MBA in Risk Management (and Insurance Management)

Although this MBA in Insurance and Risk Management is a program which is being taken up by lots of people, there are only a few colleges that specializes in Insurance and Risk Management, or Risk Management individually. The following list contains the names of the MBA in Risk Management Institutes.

  • National Insurance Academy School of Management, Pune (NIA Pune)

  • Institute of Insurance and Risk Management, Hyderabad (IIRM Hyderabad)

  • Symbiosis Institute of Distance Learning, Pune (SIDL Pune)

  • International School of Business and Media, Pune (ISB&M Pune)

  • National Institute of Retail Management, Mumbai (NIRM Mumbai)

  • Institute of Public Enterprise, Hyderabad (IPE Hyderabad)

  • Indian Institute of Commerce and Trade, Lucknow (IICT Lucknow)

  • Gitam Institute of Management, Visakhapatnam (GIM Visakhapatnam)

  • Birla Institute of Management Technology, Noida (BIMTECH Noida)

  • Goa Institute of Management, Goa (GIM Goa)

 

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