Why choose a (RMI) Major and/or Employee Benefits Minor?
Insurance is a global industry that employees over 2.3 million people in the United States alone. In recent years the number of graduates from the nation's RMI programs met only 10-15% of the industry's needs. The industry offers potential careers in a wide variety fields including claims, underwriting, actuarial sciences, sales, customer services, human resources, and information technology systems. The potential work environments range from office, home, and field settings and can allow you to work hand-in-hand with customers or on individual assignments.
The health care industry represents 18% of US-GDP, of which one third represents employee benefis expenditures. The field is growing rapidly, and unique solutions are sought to balance rising costs associated with employer-provided benefits and employee needs. Demand for talent from benefit brokers, consultants and carriers is at an all-time high, and students with the benefits knowledge-base are highly recruited during semi-annual college-level career fairs.
Risk Management & Insurance Program of Study
A Bachelor of Science in Business Administration (BSBA) with a major in risk management and insurance consists of 21 hours in addition to the College of Business core courses required for the BSBA degree. For prospective and new students, view the 2018-2019 Undergraduate RMI Program of Study For current students Programs of Study for 2017-2018 and prior should be used. The course requirements for the risk management and insurance major are: 12 hours from the structured risk management and insurance core, nine hours from the sub-area, and six hours of electives from College of Business courses numbered 3000 or above (All courses 3 semester hours):
Risk Management and Insurance core (15 hours required):
- FIN 3100 Principles of Risk Management & Insurance (3)
- FIN 3150 Commercial Insurance (3)
- FIN 3990 Financial Analysis Using Computer Applications (3)
- FIN 4700 Insurance Operations (3)
- FIN 4950 Enterprise Risk & Insurance Management (3)
Electives (6 hours required) :
- FIN 3600 Personal Insurance (3)
- FIN 3690 Financial Management (3)
- FIN 3700 Employee Benefits (3)
- FIN 3890 Survey of Investments (3)
- FIN 3900 Internship (3)
- FIN 4770 Derivatives and Financial Risk Management (3)
- FIN 4800 International Insurance Markets (3)
- ACC 3580 Individual Income Taxation (3)
- ENT 3060 Opportunity and Entrepreneurship (3)
- LAW 3960 Insurance Law (3)
- MGT 3620 Human Resource Management (3)
- MKT 3215 Professional Selling (3)
- SCM 3660 Principles of Supply Chain Management (3)
Risk management and insurance majors can use electives to pursue the certificate in financial planning and/or double major.
If an internship (6 s.h.) is elected, three hours will count towards the electives.
Free Electives (15 hours)
- 2 hours any level outside Walker College
- 13 hours any level inside or outside Walker College
Employee Benefits Minor Program of Study
What can a Benefits Minor deliver for you?
- Industry supported and enhanced curriculum which decreases entry-level job learning curve
- Opportunities for internships, travel and development exist which broadens industry understanding
- Faculty and student support in enhancing success
- Proven interest in benefits as career field to lessen turnover from “wrong” career choice
- Increased recruiting/hiring opportunities from a concentrated pool of interested employers
- Potential of Group Benefit Associate designation partially/fully completed by graduation
- Potential of L&H licensing by graduation, reducing initial compliance/training costs
- Overall shorter development cycle upon employment to improve career advancement opportunities
The Employee Benefits minor is available to both business and non-business majors. Students may earn an Employee Benefit minor by completing the following 15 hours of coursework:
Required Courses (12 Hours)
- FIN 3100 - Principles of Risk Management and Insurance (3)
- FIN 3700 - Employee Benefits (3)
- FIN 3720 - Group Benefits Management (3)
- MGT 3620 - Human Resource Management (3)
- HCM 3680 - Human Resource Management in Health Service Organizations (3)
Electives (3 hours required)
Select one of the following:
- FIN 3730 - Health Plan Design and Management (3)
- HCM 2110 - Introduction to Health System Organization (3)
To learn more, check out the following links:
The 2018-19 Employee Benefits Minor Program of Study for new and prospective students.
The 2017-2018 and older Employee Benefits Minor Program of Study for current students.