The Top Insurance MBA
Online Programs

Getting a top online MBA in insurance can help students establish themselves as experts in a complex field, incorporating aspects of actuary science, risk management, finance and contracts. Students who obtain an accredited MBA insurance online will be prepared to work as leader in a corporate environment for insurance companies.

The best MBA online insurance programs begin to prepare students for the insurance industry with a curriculum of business courses. Once students have completed the core courses in their insurance MBA online programs, they move on to unique insurance topics, such as risk management, insurance law, reinsurance and risk financing. The advanced insurance MBA online courses give students knowledge of actuary science, strategic planning and other topics essential to effective management in the insurance industry.

How can I tell if an online MBA insurance degree is right for me?

Any student interested in risk management, finance or human resources would do well to consider pursuing an online Master of Business Administration in Insurance.

Some other characteristics that are common amongst many online MBA insurance students are:

• A flair for resolving conflicts and negotiating with others
• An ability for establishing and maintaining interpersonal relationships
• An inclination for communicating with persons outside organization
• A desire for getting information
• A capability for selling or influencing others

How long does it take to earn an MBA online insurance degree?

The time it takes to earn an insurance MBA degree online is comparable to the time it takes to earn other MBAs online. It on average requires two years of full-time education to earn. However, part-time or accelerated programs are offered by some institutions to allow students to complete the degree in a more convenient manner.

What are the prerequisites and admission requirements for MBA insurance schools online?

Prior to gaining admission in online MBA insurance programs, business schools generally require students to have an undergraduate degree. Some schools that have an MBA insurance online program favor applicants who have degrees in areas including business, actuarial science, financial planning, and business administration.

In addition to requiring students to have a bachelor’s degree, many online MBA in insurance programs base admission on the following criteria:

• Personal interviews
• Academic transcripts
• References or Letters of Recommendation
• Essays

What courses will I take in insurance MBA programs online?

An online Master of Business Administration in Insurance is usually divided into two halves. During the first year of online MBA insurance programs, students learn the basics of risk management as well as core business concepts that will form a foundation for later courses in the MBA degree program. Schools that rank highly in online insurance MBA rankings usually provide courses on business law, finance, management and marketing, as well as basic insurance and risk management courses.

Students in online insurance MBA schools focus on insurance and risk management topics in greater detail during the second half of their MBA degree programs. The courses offered by insurance MBA schools online during this stage may include property insurance contracts, investment theory, financial analysis and risk financing techniques, as well as courses on current issues in the insurance field. These courses provide students with up-to-date information on their chosen field.

Students enrolled in online insurance MBA programs often participate in internships in order to enhance their education. Internships are useful. Through them, students not only make beneficial business contacts, but they also get an opportunity to apply what they are learning in their classes.

What are the best online MBA in insurance books I should consider reading?

Some books students interested in insurance MBA careers may find on point include:

1. Hide! Here Comes The Insurance Guy: Understanding Business and Risk Management (Rick Vassar) – Written by an insurance expert with experience in both small firms and Fortune 100 companies, this text provides simple explanations of insurance and risk management concepts.

2. The Failure of Risk Management (Douglas W. Hubbard) – Focusing on flaws in current risk management methods, this book focuses on how collaboration and simple solutions can help improve risk management methods.

3. The Essentials of Risk Management (Michel Crouhy, Dan Galai, Robert Mark) – This book’s authors provide a variety of perspectives on risk management, one of the core concepts of many insurance MBA programs.

4. Power Position Your Agency: A Guide to Insurance Agency Success (Troy Korsgaden) – Though it focuses on the personal rather than the managerial side of the insurance business, this book provides some valuable lessons for managers on how employees can most effectively market insurance.

5. Risk: A Very Short Introduction (Baruch Fischhoff, John Kadvany) – Designed for all audiences, this book provides a broad outline of the way that people approach risk.

What are my future job prospects if I pursue insurance MBA jobs?

Those with insurance and risk management backgrounds can work as executives, administrative services managers or financial managers, while those with mathematical or statistical backgrounds are qualified to work as actuaries, who study the mathematical elements of risk. An insurance MBA salary can be fairly high, especially for those in executive positions, as the following positions illustrate:

• Financial Manager: $103,910
• Administrative Services Manager: $77,890
• Top Executive: $101,250
• Actuary: $87,650

Growth rates in these fields vary significantly. Some fields, such as executive positions and financial management positions, will experience growth rates as low as 5% over the decade ending in 2020, while actuarial positions will experience growth rates as high as 27% over the same period. The positions experiencing minimal growth have limited openings for new candidates, whereas those with an understanding of the mathematical models of risk are highly sought after, especially in industries like insurance.

Employers often favor students who have graduated from AACSB accredited insurance MBA programs because accreditation by the Association to Advance Collegiate Schools of Business can serve as an indication that a business school provides a quality education.

What are the top online schools to pursue an online Insurance MBA degree?

• Walden University
• Brandman University
• Colorado Technical University
• Walden University International