Bachelor of Business Administration
Insurance & Risk Management
Risk management is part of every job description in any business. No one is exempt from managing risk. Therefore, the Insurance and Risk Management (IRM) program affords students a great variety of career choices and opportunities due to the fact that over 400,000 positions will be open in the industry by 2020 (U.S. Department of Labor Bureau of Labor Statistics). In addition, Houston is the third largest insurance market in the US. The program prepares IRM majors and minors for insurance careers including underwriting, loss control, claims adjusting, insurance appraisers, auditing, risk analysts, brokers/agents, personal financial planners, accounting, finance, technology, and marketing. Relevant articles can be found using the following links addressing why choosing insurance and risk management is an excellent and lucrative choice: “7 reasons to major in insurance and risk management”
, “10 reasons why an insurance career is great for millennials”
, “Improving Perceptions of the Insurance Industry”
In addition to earning credits toward a bachelor’s degree, students will simultaneously complete coursework to prepare them for taking examinations for various professional designations, recognized worldwide by the industry, including the Chartered Property and Casualty Underwriter (CPCU), Certified Risk Manager (CRM), Chartered Financial Consultant (ChFC), Chartered Life Underwriter (CLU) and other designations. These designations enhance the earning capacity upon graduation.
Online Courses. All IRM courses are offered online so that working students can manage their studies to fit their work schedule. Most courses include high-impact learning experiences, e.g. field trips, industry meetings, group projects and oral presentations that allow students to interact personally with colleagues, professors and industry professionals.
Career Opportunities. Paid internships are arranged with Houston area insurance and risk management organizations in which students obtain real-world experience and the opportunity to make industry contacts and secure full-time career positions. Many students have secured full-time positions by using the services provided by the IRM Industry/Careers Committee. The IRM program provides assistance with resume writing, interviewing skills, and placement services. According to the U.S. Department of Labor Bureau of Labor Statistics (BLS), the average salary of an Underwriter in TX is $70,660 – Claims Adjuster in TX is $70,700 – Insurance Sales Agent in TX is $59,150.
Scholarships. All IRM majors and minors are eligible for several scholarships, based on certain criteria, offered by the IRM Center, industry associations, and foundations.
An IRM Council, composed of leaders in the industry representing agencies, carriers, risk managers, associations, wholesalers and consultants, provides input and insight on the knowledge, skills and abilities needed in the insurance and risk management industry. This partnership shapes the teaching experience so students are provided the relevant information and skills necessary to obtain lucrative careers in the insurance and risk management industries.