An Insurance and Risk Management major includes coursework in principles of risk and insurance, property and casualty insurance, life and health insurance, underwriting, and claims and more. You build skills such as risk assessment, analytical thinking, customer service, and negotiation. Typical degrees: bachelor's degree.
- Typical degreesBachelor's degree
- Colleges reporting awards71U.S. schools, IPEDS
- With online programs70Schools reporting fully online programs
About the Insurance and Risk Management major
Insurance and risk management majors learn underwriting, claims, risk analysis, insurance law and financial planning. Graduates work for insurers, agencies and corporate risk departments. Selling insurance requires a state license.
Classes you take
- Principles of risk and insurance
- Property and casualty insurance
- Life and health insurance
- Underwriting
- Claims
- Insurance law and regulation
Skills you build
- Risk assessment
- Analytical thinking
- Customer service
- Negotiation
- Attention to detail
Career paths for insurance and risk management majors
Careers connected to this major. Each profile explains the work, how to get started and what the job is like day to day.
Insurance Underwriter
Decide whether to insure people and businesses, and on what terms.
- Typical training: Moderate on-the-job training
Insurance Agent
Help people and businesses protect what matters with the right insurance.
- Typical training: 2–8 weeks for licensing
Claims Adjuster
Investigate insurance claims and decide how much should be paid.
- Typical training: 3–12 months
Financial Risk Specialist
Measure and manage the risks that could cost an organization money.
- Typical training: Entry-level with strong quantitative skills
Actuary
Use math and statistics to measure risk and price insurance.
- Typical training: Several years of exams while working
Auto Damage Appraiser
Inspect damaged vehicles and estimate repair costs for insurance claims.
- Typical training: Training program plus months on the job
Minors that pair well with Insurance and Risk Management
| Minor | How it complements Insurance and Risk Management |
|---|---|
| Finance | Connects insurance to investments and financial planning. |
| Statistics | Builds the math behind pricing risk. |
| Legal Studies | Helps with policy contracts and claims disputes. |
Start building practical skills now
These short online courses from Career Education Institute connect to insurance and risk management careers. You can take one alongside your classes or before you choose a program.
A self-paced online course on what insurance underwriters do: duties, 15+ key terms, step-by-step tasks, tools, safety and how to launch the career.
Skills you build: risk assessment, underwriting guidelines, and pricing
Why it fits: Connected to careers that Insurance and Risk Management majors pursue, such as insurance underwriter.
A self-paced online course on what insurance agents do: duties, 15+ key terms, step-by-step tasks, tools, safety and how to launch the career.
Skills you build: insurance products and coverage, quoting and rating software, and needs analysis
Why it fits: Connected to careers that Insurance and Risk Management majors pursue, such as insurance agent.
A self-paced online course on what claims adjusters do: duties, 15+ key terms, step-by-step tasks, tools, safety and how to launch the career.
Skills you build: policy interpretation, damage estimating, and xactimate
Why it fits: Connected to careers that Insurance and Risk Management majors pursue, such as claims adjuster.
A self-paced online course on what financial risk specialists do: duties, 15+ key terms, step-by-step tasks, tools, safety and how to launch the career.
Skills you build: risk modeling, statistics, and financial markets
Why it fits: Connected to careers that Insurance and Risk Management majors pursue, such as financial risk specialist.
Where to study insurance and risk management
71 U.S. colleges and universities reported awarding degrees or certificates in this field (IPEDS completions, awards conferred July 2023 to June 2024 (C2024_A)).
- Certificate: 30 schools
- Associate: 8 schools
- Bachelor’s: 40 schools
- Master’s: 7 schools
States with the most: Ohio (8), Kansas (5), California (4), Indiana (4), Michigan (4).
Find colleges that offer Insurance and Risk Management
Why consider career training alongside college?
Your college major gives you an academic foundation. Short career training can add practical knowledge of a specific job: what the work involves day to day, its vocabulary, common tasks, tools and safety rules. You do not have to wait until graduation: many students take a short course to test a career before choosing a major, to prepare for an internship or a part-time job, or to show employers they understand the work.
Insurance and Risk Management major FAQ
What is an Insurance and Risk Management major?
An Insurance and Risk Management major studies how risks are measured, priced and covered by insurance. Insurance and risk management majors learn underwriting, claims, risk analysis, insurance law and financial planning.
What does an Insurance and Risk Management major include?
An Insurance and Risk Management major includes coursework in principles of risk and insurance, property and casualty insurance, life and health insurance, underwriting, and claims and more. You build skills such as risk assessment, analytical thinking, customer service, and negotiation. Typical degrees: bachelor's degree.
What classes do you take as an Insurance and Risk Management major?
Typical courses include principles of risk and insurance, property and casualty insurance, life and health insurance, underwriting, claims, and insurance law and regulation. Exact course names and requirements vary by college, and most degrees also include general education courses.
How long does it take to get an Insurance and Risk Management degree?
It depends on the level. Insurance and Risk Management is offered as certificate, associate, bachelor’s, and master’s awards at U.S. colleges; certificates take from a few months to about two years, an associate degree usually takes about two years of full-time study, a bachelor’s degree usually takes about four years of full-time study, and a master’s degree usually takes one to two years after a bachelor’s. Part-time study takes longer.
What degree levels are available in Insurance and Risk Management?
Bachelor's degree. In the latest federal data, 30 colleges reported certificate awards, 8 colleges reported associate awards, 40 colleges reported bachelor’s awards, and 7 colleges reported master’s awards.
What can you do with an Insurance and Risk Management degree?
Career paths connected to insurance and risk management include insurance underwriter, insurance agent, claims adjuster, financial risk specialist, actuary, and auto damage appraiser. Some roles need additional training, experience, certification or a license.
What jobs can you get with an Insurance and Risk Management major?
Examples include insurance underwriter (typical training: Moderate on-the-job training), insurance agent (typical training: 2–8 weeks for licensing), claims adjuster (typical training: 3–12 months), financial risk specialist (typical training: Entry-level with strong quantitative skills), actuary (typical training: Several years of exams while working), and auto damage appraiser (typical training: Training program plus months on the job).
What skills do you learn in an Insurance and Risk Management major?
Insurance and Risk Management majors build skills such as risk assessment, analytical thinking, customer service, negotiation, and attention to detail.
What minor goes well with Insurance and Risk Management?
Good pairings include Finance (connects insurance to investments and financial planning), Statistics (builds the math behind pricing risk), and Legal Studies (helps with policy contracts and claims disputes).
Is Insurance and Risk Management a good major?
It can be a good fit if you are interested in the work it leads to, such as insurance underwriter, insurance agent, and claims adjuster, and enjoy subjects like principles of risk and insurance and property and casualty insurance. No major guarantees a job, so compare the coursework, the careers and the education each career requires before deciding.
Is Insurance and Risk Management a hard major?
How hard it feels depends on your strengths. Core coursework includes principles of risk and insurance, property and casualty insurance, and life and health insurance; if those subjects interest you, the major is likely to feel more manageable. Reviewing a college’s course list and talking to current students helps you judge.
How many colleges offer an Insurance and Risk Management major?
71 U.S. colleges reported awarding degrees or certificates in this field in the latest federal (IPEDS) data. Programs can have different names at different schools.
Which states have the most colleges offering Insurance and Risk Management?
Ohio (8), Kansas (5), California (4), Indiana (4), and Michigan (4), based on the colleges that reported awards in this field.
Can you study Insurance and Risk Management online?
70 of the colleges that offer insurance and risk management also report offering at least one program entirely online, though not necessarily this one. Use the college search with this major and “Offers fully online programs”, then confirm with the school.
What is the difference between Insurance and Risk Management and Business Administration?
Insurance and Risk Management studies how risks are measured, priced and covered by insurance. Business Administration is a broad business major that covers management, finance, marketing and operations. Insurance and Risk Management leads to careers such as insurance underwriter and insurance agent, while Business Administration leads to careers such as general and operations manager and administrative services manager.
What is the difference between Insurance and Risk Management and Marketing?
Insurance and Risk Management studies how risks are measured, priced and covered by insurance. Marketing studies how organizations understand customers and promote products and services. Insurance and Risk Management leads to careers such as insurance underwriter and insurance agent, while Marketing leads to careers such as marketing manager and digital marketing specialist.
Can I take career training while I study insurance and risk management?
Yes. Short online career training can help you understand a specific job and build practical knowledge alongside your classes. It does not replace your degree or any required license.
Does Career Education Institute offer an Insurance and Risk Management degree?
No. Career Education Institute is not a college and does not award degrees. It offers short, non-credit online trainings about jobs connected to insurance and risk management, such as Insurance Underwriter Training.
Related majors
- Business Administration: A broad business major that covers management, finance, marketing and operations.
- Marketing: Studies how organizations understand customers and promote products and services.
- Accounting: Teaches you to record, analyze, report and audit financial information.
- Finance: Studies how individuals and organizations raise, invest and manage money.
- Human Resources Management: Teaches you to recruit, train, pay and support an organization's workforce.
- Entrepreneurship: Teaches you to start, fund and grow a new business or venture.
- Management and Organizational Leadership: Focuses on leading people, teams and organizations.
- Economics: Studies how people, businesses and governments make choices about scarce resources.
- Project Management: Teaches you to plan, schedule, budget and deliver projects of any kind.
- Business Analytics: Teaches you to use data and statistics to answer business questions.
- Real Estate: Studies how property is bought, sold, financed, developed and managed.
- International Business: Studies how companies trade, operate and compete across countries.
- Sales and Merchandising: Teaches professional selling, retail management and merchandising.