Analysis and Management of Insurance Risk (Certificate)
Program Description
Risk management is the identification, assessment and prioritization of risks that is followed by coordination and economic application of resources to minimize risk and monitor the probability and impact of unfortunate events or to maximize the realization of opportunity. The objective of risk management is to assure uncertainty does not deflect the endeavor from the business goals.
The certificate program helps students become well-rounded assessors of risk, ready to utilize their knowledge of mathematics, statistics, economics, marketing, business, finance and accounting in an insurance career.
Program Requirements
Enrollment Requirements
Students must hold a minimum GPA of 2.50 to pursue this certificate and have completed the following prerequisite courses at ASU or an equivalent institution with a grade of "C" or better (scale is 4.00 = "A"):
CIS 105 Computer Applications and Information Technology or equivalent
ECN 211 Macroeconomic Principles or ECN 212 Microeconomic Principles
MAT 210 Brief Calculus
STP 226 Elements of Statistics or ECN 221 Business Statistics
A student pursuing an undergraduate certificate must be enrolled as a degree-seeking student at ASU. Undergraduate certificates are not awarded prior to the award of an undergraduate degree. A student already holding an undergraduate degree may pursue an undergraduate certificate as a nondegree-seeking graduate student. Applicants should contact the unit for additional information.
Career Outlook
Risk is a part of daily life and wherever there is risk, there are opportunities for actuarial intervention. Many actuaries work with insurance companies to calculate premiums, determine reserves needed to ensure an organization's financial health, and ensure organizations conform to stringent, complex legal mandates. Others help companies establish retirement plans or are employed as consultants.
Graduates with a certificate in analysis and management of insurance risk possess skills that are transferable to any industry and any organization that requires risk modeling and management, including:
- colleges and universities
- consulting firms
- energy, such as utilities, oil and gas
- environment (on issues such as the financial impact of climate change or risk of extreme events)
- financial services, such as banking and investment management
- government agencies such as Social Security, the Department of Labor and Medicare (to manage social programs and to develop regulations and legislation)
- insurance companies
- retirement and pensions
- transportation, such as shipping and air travel
They can also apply the advanced problem-solving skills learned in the analysis and management of insurance risk certificate program to a variety of other professional careers, including:
- analysts
- business operations specialists
- consultants
- teachers
Example Careers
Students who complete this degree program may be prepared for the following careers. Advanced degrees or certifications may be required for academic or clinical positions.
Accountants and Auditors
- Growth: 4.4%
- Median Salary*: 78000
Actuaries
- Growth: 23.2%
- Median Salary*: 113990
Compliance Managers
- Growth: 3.3%
- Median Salary*: 128620
Claims Adjusters, Examiners and Investigators
- Growth: -3.1%
- Median Salary*: 72230
Insurance Underwriters
- Growth: -2.4%
- Median Salary*: 76230
Logistics Analysts
- Growth: 18.3%
- Median Salary*: 77520
Financial Risk Specialists
- Growth: 8.2%
- Median Salary*: 102120
Security Management Specialists
- Growth: 4.1%
- Median Salary*: 75990
Statisticians
- Growth: 31.6%
- Median Salary*: 98920
* Data obtained from the Occupational Information Network (O*NET) under sponsorship of the U.S. Department of Labor/Employment and Training Administration (USDOL/ETA).
Program Contact Information
If you have questions related to admission, please click here to request information and an admission specialist will reach out to you directly. For questions regarding faculty or courses, please use the contact information below.
- math@asu.edu
- 480/965-7195