Master of Business Administration (MBA) in Risk and Insurance Eligibility, Top Colleges, Syllabus, Duration, Salary

Pranjal Singhal's profile photo

Pranjal Singhal

Content Curator | Updated on - Sep 17, 2021

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:

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

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.

MBA in Risk and Insurance: Course Highlights

Given below are some of the main highlights of the course

Course Level Post Graduate
Duration of the Course 2years
Examination Type Semester and Annual
Eligibility Graduation
Admission Process Entrance exam and Merit Based
Average Course Fee INR 10,000 to 10 lacs
Average Starting Salary INR 3 to 20 Lacs
Top Recruiting Companies HDFC 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 Areas Insurance Companies, Academic Institutions, Research & Consultancy Firms, Banks, Finance Institutions, Corporate Finance, Corporate Banking, Credit Risk Management, Derivatives Structuring etc.
Top Job Positions Insurance 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

NAME OF INSTITUTE CITY AVERAGE ANNUAL FEES
Pondicherry University Pondicherry INR 37,200
Ambedkar Institute of management studies(AIMS) Vishakhapatnam INR 1,40,000
SRM University Kanchipuram INR 3,05,000
Amity University Noida INR 1,70,000
NIMS University Jaipur INR 1,13,000
Chandigarh University Chandigarh INR 1,59,000
ICFAI University Jaipur INR 80,500
Symbiosis University of Applied Science Indore INR 5,05,000
ISBM University Raipur INR 48,000
ICFAI Business School Hyderabad INR 6,25,000
Jawahar Lal Nehru Technological University Kakinada INR 30,000
Amity University Mumbai INR 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:

MBA in Risk and Insurance: Syllabus and Course Description

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

Year I Year II
Principles and Practice of Life and General Insurance Liability Insurance
Risk Management Life Insurance II
Life Insurance I Motor Insurance and Agricultural and Mis. Insurance
Fire Insurance Investment Planning and Management
Marine Insurance Marketing 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.

Master of Business Administration in Risk and Insurance Annual salary
JOB POSITION JOB DESCRIPTION AVERAGE ANNUAL SALARY
Risk Manager Risk 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 Consultant Risk 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 Manager Senior 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 Manager Financial 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 Adviser Financial 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

Master of Business Administration [MBA] (Risk and Insurance) : 4 answered questions

VIEW ALL

Ques. Which stream should my sister opt for in BIMTECH Noida for MBA international business or insurance?

● Top Answer By Aaditya Hari Nair on 17 Sept 21

Ans. First, you should ask her which steam is more of her interest, international business or insurance management. Both programs come with many benefits. So, help her figure out her interest and let her choose according to that.  BIMTECH, Greater Noida is one of the best colleges in the country for management. A PGDM in International Business (PGDM-IB) from BIMTECH will make her proficient in handling international affairs, conducting business across every boundary. She will learn new ways of doing business and more. When it’s about pursuing PGDM in Insurance Business Management (PGDM-IBM) she will learn insights on finance management, be capable enough to plan and control the financial resources of any industry, and will handle more of such responsibilities. BIMTECH offers good placement opportunities for all its programs. According to the recent placement highlights the average and highest CTC offered at the institute was 8 LPA and 16 LPA.  Considering these factors help her make the right choice.Read more
0
0
1 Answer
●●●

Ques. I am selected in bimtech for pgdm-ibm. Should I go for it?

● Top Answer By Komal Chawla on 14 Sept 21

Ans. You should go for BIMTECH IBM (Insurance Business Management) program. It is well-known across India and one of the very few colleges in India offering a course in Insurance. The faculty is highly experienced and the program has a 100% placement rate. You will be placed first among all others on the campus as the majority of the recruiters are Insurance Firms. The average salary package offered for PGDM IBM at BIMTECH lies between the range of 6-7 LPA. Go for it if you are looking forward to a career in the Insurance industry. Read more
0
0
1 Answer
●●●

Ques. How good is bimtech for PGDM in IBM?

● Top Answer By Debdeep Majumder on 01 Jul 21

Ans. You should join the course at IBM without any second thoughts. Try to do a bit more research about the PGDM course that you want to pursue. 117 companies offered placement opportunities to the students enrolled in the PGDM course at IBM. The institute also has witnessed involvement from international recruiters like RAK Ceramics, Landmark (Home Centre), and a few more who offered job roles and opportunities across Sales, Marketing, Retail, and Operations. Placements at BIMTECH have been seeing an improvement in the domestic package offered by 12.50% with the highest package offered to be INR 18 Lakhs per annum and international packages by 15% with the highest package offered to be INR 23.00 Lakhs per annum. In BIMTECH, you will get a good ROI and will surely be recruited by a good company before the course gets over.Read more
0
0
1 Answer
●●●

Ques. How is the insurance business management from the BIMTECH Noida?

● Top Answer By Admin on 19 Apr 21

Ans. The Insurance Business Management (IBM) from BIMTECH Noida is a very high-demand course, especially for those who want to build their career in the financial and the banking sector. It is one of the 4 full-time PGDM courses offered by the institute apart from an executive PGDM course.  Talking about the institute, it has a rich legacy of 30 years of excellence in academics where the faculty are known to be really hardworking. They are very well qualified, many of them have lots of industrial exposure and they bring in their collective knowledge in the classroom studies. Some of the reasons why PGDM in Insurance Business Management from BIMTECH Noida will be beneficial for you are – There are various career paths one can take after doing this course. The students can work as a broker in banks, insurance companies or any financial institution for that matter. The institute is also very popular and is visited by many insurance and banking companies along with financial institutions. BIMTECH is also known for its collaborations with many international organizations, so there won’t be any dearth of opportunities here. You could also try yourself as a financial analyst after doing this course. This course will equip students with knowledge about financial markets, risk management along with the core banking and insurance subjects. Many of the graduates go on to work as consultants in the insurance and banking sector. Apart from that, with its rich academic and research-oriented pedagogy, the institute imparts the necessary skills and training to the students for becoming successful professionals. Thus, without a doubt, this is a very good course with a focused approach towards the sector. The institute, pedagogy, faculty, and facilities are all top-notch and it will help you propel your professional career.Read more
0
0
1 Answer
●●●

Master of Business Administration [MBA] (Risk and Insurance) Fee Structure in India


63.50 K (Minimum Fee)PUBLIC COLLEGES2.64 L  (Maximum Fee)
1.43 L (Average Fee)
86 K (Minimum Fee)Private COLLEGES7.20 L (Maximum Fee)
2.13 L (Average Fee)

Master of Business Administration [MBA] (Risk and Insurance) Fee Structure By state


Uttar Pradesh

1 LPUBLIC COLLEGES1 L
1 L
1.19 LPrivate COLLEGES1.91 L
1.57 L

Comments



No Comments To Show

Master of Business Administration [MBA] (Risk and Insurance) Colleges IN INDIA

View All
2.64 L first year fees
VIEW ALL COURSES & FEES
Banaras Hindu University - [BHU]
Varanasi, Uttar Pradesh
UGC
50 K first year fees
VIEW ALL COURSES & FEES
IILM University
Gurgaon, Haryana
NBA
3.6 L first year fees
VIEW ALL COURSES & FEES
3 L Total fees
VIEW ALL COURSES & FEES
Arunodaya University
Itanagar, Arunachal Pradesh
Himalayan University - [HU]
Itanagar, Arunachal Pradesh
RCI
95.4 K first year fees
VIEW ALL COURSES & FEES
90 K first year fees
VIEW ALL COURSES & FEES