Master in Risk and Insurance Management

PROGRAM GOALS:

The degree program core consists of risk management and parallel series of both life and non-life insurance management.

    • To provide a mechanism for enhancing analytical skills by giving rigorous training in specific skills that are in great demand in the insurance sector, international agencies and private industry and commerce that focus on managing risks.

 

    • To provide thorough knowledge on theoretical and application concepts in both life and non-life insurance management.

 

    • To increase awareness in Insurance Management and its contribution to the society.

 

    • To equip prospective managers with more efficient analysis and decision-making skills.

 

    • To provide multi-facetted perspective in managing risks by applying a range of risk analysis techniques to technical and financial issues.

 

    • To develop among professionals good value judgment and effective leadership skills toward sound problem-solving and decision-making activities.

 

THE CURRICULUM:
A Thesis degree program consisting of:

  • 39 units of basic, core and elective courses
  • Written Comprehensive Examination
  • 6 units of Thesis Writing
  • Fulltime: 7 – 8 trimesters
  • Part-time: 8 – 10 trimesters

Basic Courses:

Life and Non-Life Insurance Management
This introductory course provides an overview of the entire process of managing life and non-life insurance companies including the prudent management of their investment in stocks, bonds, notes and other instruments.

Marketing and Communications
This course provides an understanding of the basic marketing principles and functions of marketing in the insurance industry.

Economics of Insurance
This course is a thorough review of both macro and microeconomics, with particular discussion on economic constraints and production possibilities, and market characteristics, structures and institutions.

Corporate Finance and Strategic Management
It covers environmental scanning, assessment, internal and external factors analysis, strategy recommendations and implementation. It will also cover capital budgeting techniques, working capital requirements, analysis of the financial statements of insurance companies, and an introduction to portfolio management and investment.

Legal Studies and Claims Management
A review of the insurance code of the Philippines, all other circulars passed that affect the insurance industry in general. This course is also designed to develop a practical working knowledge of the handling and management of claims, both commercial and personal lines.

International Insurance and Reinsurance
This course studies insurance markets from both general and international perspectives. It includes the nature and functions of reinsurance and the non-traditional methods of risk transfer.

 

CORE COURSES:

A. Life Insurance Track: 

Risk Management and Treatments for Life Insurance
This course covers the nature and objectives of corporate risk management with primary consideration devoted to the recognition, evaluation and treatment of pure risks to which the life insurance corporation is exposed.

Life and Health Insurance
This course discusses the determination of human life values and the conservation of those values through personal and business life and health insurance.

Fundamentals of Actuarial Science
This course introduces practical applications of financial mathematics such as loan amortization and bond pricing, premium contingencies, basic life contingencies and determination of annuity insurance benefits and premiums.

Estate Planning and Liability Insurance
Applications of life and health insurance to business and estate planning situations with emphasis on current developments in retirement planning, business continuation and estate conservation.

B. Non-Life Insurance Track: 

Risk Management and Treatments for Non-life Insurance
This course covers the nature and objectives of corporate risk management with primary consideration devoted to the recognition, evaluation and treatment of pure risks to which the non-life insurance corporation is exposed.

Marine, Property and Liability Insurance
This course focuses on the marine insurance association, marine hull and cargo insurances, clauses and policy forms, underwriting practice and marine claims. It also examines the structure of insurance markets and the financial management of property-liability insurance companies.

Applied Statistical Methods
This course focuses on statistical forecasting techniques such as regression, exponential smoothing and time series models, with particular emphasis on insurance applications.

Reinsurance 
This course covers the fundamental reinsurance purchasing decisions, property liability program design and pricing, the impact of key reinsurance clauses, reinsurance claims and alternative risk transfer and securitization.

ELECTIVE COURSES:

Risk Management Information Systems
This course focuses on the examination of data collection and analysis methods for risk management decisions, analysis of qualitative and quantitative data to support transfer, retention and loss control decisions including loss trending, and evaluation of regulatory controls.

Portfolio Management and Underwriting
This course covers the fundamental difference between the skills required to manage a portfolio of insurance risks and those required to underwrite individual policies.

Fire and Casualty Insurance
This course covers fire insurance practice, underwriting, extra perils including all risks, general and industrial fire hazards, and preparation of plans and reports.

Suretyship
This course discusses the nature, concepts and principle of suretyship, and will include the different types of bonds, underwriting guidelines and claims.

Employee Benefit Plan Design and Financing
This course covers that rationale behind substantial budget commitments to employee benefits as well as employee benefit package designs and aspects of life insurance.