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 business assessors of risk, ready to utilize their knowledge of mathematics, statistics, economics, marketing, business, finance and accounting in an insurance career.
Analysis and Management of Insurance Risk (Certificate)
Liberal Arts and Sciences, The College of
A major map outlines the degree’s requirements for graduation.
Application RequirementsAll students are required to meet general university admission requirements.
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ASU has many financial aid options. Almost everyone, regardless of income, can qualify for some form of financial aid. In fact, more than 70 percent of all ASU students receive some form of financial assistance every year.
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 to ensure organizations conform to stringent, complex legal mandates. Others help companies establish retirement plans or are employed as consultants. Students 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
Students 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:
- business operations specialists