Insurance and Insurance Business Management

Profession

The Master of Economics, who specializes in insurance, is able to ensure the maximum safety of assets and capital by minimizing risks and organizing the insurance coverage. He organizes and runs an insurance business, can apply for executive posts, be promoted as a mid-level specialist (head of the Financial Department, leading specialist of the Department) and the executive manager (financial director, head of financial management).
Scope of activities: insurance, consulting, business consulting, financial services, banking, risk management.
Professional roles: risk manager, underwriter, actuary, consultant and adviser, financial analyst, internal auditor, business analyst.

Educational Process

The curriculum includes basic courses and electives. The basic courses provide the fundamental knowledge in the finance of insurance organizations; the world’s experience in the insurance business organization; the financial law and actuarial calculations, corporate finances management and sales in insurance. The elective courses allow students to master such aspects of insurance business as reinsurance transactions; loss settlement system; business processes organization in insurance; management of international projects; insurance business assessment.
Courses: State Regulation of the Insurance Activity, Current Calculations in Insurance, Risk Management Theory, Corporate Finance, Methodology of Scientific Research, Economics and Finance of Insurance Organizations, etc.

Practice

The master’s program is practice-oriented. Highly qualified insurance practitioners are involved in the training process. In the internships students obtain practical skills of professional activity. The program provides two types of internships:
1) research work, which includes conducting research, preparation of scientific publications, participation in conferences, writing a master’s thesis;
2) pre-graduate internship, where students master the key professional activities which are necessary for the work of the insurer.
The internships take place at insurance companies, subdivisions of commercial banks, investment companies and state authorities. Currently, students are offered the following companies for internships: PJSC VTB, PJSC ROSBANK; PJSC Sberbank of Russia; LLC Rosgosstrakh, KIT Finance Broker, the Federal service for financial and budgetary supervision (Rosfinnadzor), the Federal Agency for State Property Management (Rosimushchestvo) and others.

Career

High-level professional competences and adaptability of master’s degree graduates get them additional competitive advantages in the job market and allow them to work successfully in different areas. Masters graduates traditionally start their professional careers from higher job posts than bachelors. Graduates of the master’s program in insurance have the opportunity to work in insurance companies, financial subdivisions of banks, commercial organizations, government and public administration authorities, consulting and investment companies. The master’s degree graduate can conduct scientific research and teaching practice. For those who choose a career in science, RUDN provides postgraduate study.