Insurance

Profession

The demand for specialists in the field of insurance is due to the risks inherent in economic activity and should be taken into account when making decisions. The profession of an insurer is very diverse. One of the main and well—paid activities in insurance is underwriting.
An underwriter is engaged in drafting insurance contracts, assessing risks in the insurance of legal entities or individuals, determining tariff rates, forming a portfolio of insurance services. Financial analysts and economists develop types of insurance. Actuaries calculate typical insurance amounts depending on the probability of an insured event in a particular area. A risk manager is engaged in identifying risks that threaten the insurance company, assessing, analyzing and reducing them through reinsurance or through other economic methods.
The insurance industry in Russia is one of the most dynamically developing areas of the economy, which requires specialists with high-quality professional education.

Educational Process

In the second year, students have the opportunity to get acquainted with the peculiarities of the insurance business and make a conscious choice of their future profession. In the third and fourth years, students study the legal basis of insurance; types of insurance services; standard rules and conditions of insurance; the basics of actuarial calculations. The training is focused on obtaining practical skills in carrying out operations for concluding insurance and reinsurance contracts; risk assessment, preparation and analysis of financial statements.
Courses: “Insurance”, “Reinsurance”, “Financial risk management”, “Finance of an insurance organization”, “Insurance law”, “Actuarial Mathematics”, “International aspects of insurance activity”, etc.

Practice

The places of internship are Russian and international insurance companies (Ingosstrakh, Rosgosstrakh, VTB Insurance, etc.), actuarial divisions of financial companies and investment funds, financial departments of enterprises of various forms of ownership.
Students also get practical skills in insurance activities, risk assessment, and loss settlement in the classroom, analyzing cases, solving problems, participating in business games and discussions. Master classes of practitioners, meetings with potential employers also contribute to the formation of professional competencies of future insurers.
Internships in leading Russian and foreign corporations, banks, investment and insurance companies, partner universities of the RUDN, student exchange programs are available to our students – https://www.rudn.ru/career/internships.

Career

Graduates of the programme can get jobs in insurance and investment companies, risk management departments of banks, financial and industrial groups, as well as in state services as insurance specialists supervising insurance activities.
The first step in the career ladder can be the position of an insurance agent. You will be required to conduct successful negotiations with top officials, have perseverance, the ability to convince and the ability to build long-term relationships with customers. A successful agent who started working in an insurance company has every chance to become a manager, and after some time — a director, including starting-up his or her own agency. Another option for building a career in insurance is related to analytical and predictive activities as a back office specialist: actuaries, underwriters and financiers are always in demand by insurance companies.