MSc Risk Management and Insurance

General

Program Description

Why study this course?

With the UK insurance market worth over £200 billion, and more than 320,000 people working within it, there are huge opportunities for graduates looking to enter the industry, particularly those with specialist knowledge and skills.

The MSc Risk Management and Insurance has been developed with employers, industry experts and the Chartered Insurance Institute (CII), to give you the tools to progress rapidly in this varied and fast-paced sector.

You'll explore how risk is managed in insurance, and how insurance companies need to work with businesses to mitigate risk and prepare for the unknown and unexpected in today's global marketplace.

What are the big risk challenges for businesses in the future? How are technological advances impacting our understanding of capacity to manage risk, and how are insurance companies embracing change to protect businesses in a complex global environment?

The course includes opportunities to visit companies and Lloyds of London to see the market in action, work on consultancy projects and attend networking events.

Why UWE Bristol?

Drawing on our long-standing links with employers, the CII and wider industry, you'll learn from industry practitioners and apply your learning in authentic industry contexts.

You'll have regular access to the Bloomberg trading room on our Frenchay Campus, and work with our experienced team of academics and practitioners.

The course content covers a significant amount of material in the industry standard qualification (ACII), giving you a head start on further professional training.

Where can it take me?

With huge demand for qualified insurance professionals, your skills will be highly sought after in areas such as underwriting, broking or claims management, strategic risk management, governance and insure-tec.

You could work in an insurance company, brokerage, at Lloyds of London, or for a global company with major risk challenges.

With significant scope for international work, you could also take your skills into SMEs, new ventures, broader intermediation or commercial risk.

Content

The optional modules listed are those that are most likely to be available, but they may be subject to change.

You will study:

  • Insurance Practice - This module introduces you to the three main business functions that make up the insurance market: underwriting, broking, and claims. It covers aspects such as regulatory frameworks, underwriting risk evaluation and pricing, agency and risk transfer, client relationships, settlement negotiation and identifying fraudulent claims.
  • Insurance Business Environment - This module aims to provide you with the essential underpinnings in economics, law and finance to understand and operate in the insurance marketplace. This includes the role and impact of the industry in the national and global economy, the legal structures underpinning insurance contractual liabilities and the regulatory, financial and ethical requirements within which insurance businesses operate.
  • Insurance Risk Management - This module provides a fundamental understanding of risk and risk management processes in the operational context of insurance business. This understanding is underpinned with the key theoretical models of risk management and applied in operational examples to understand and evaluate the effectiveness of decision making in practice. Real examples drawn from industry will be used to illustrate and challenge risk decisions and encourage critical evaluation of risk management applications in insurance business contexts.
  • Strategic Leadership in Insurance - This module provides a fundamental understanding of strategic leadership, planning and development, strategic business relationship management and leadership behaviours in the operational context of insurance businesses. Real examples drawn from industry will be used to illustrate and challenge leaders' decisions and encourage critical evaluation of leadership in insurance business contexts.
  • Applied Project in Insurance - The project is designed to allow you to focus on a particular aspect of insurance risk management theory or practice to carry out an in-depth study with practical relevance to the contemporary insurance industry. You will be given opportunities to interact with industry to help generate your research question and will present your project proposal to a mixed academic and industry panel.

Plus, one optional module from:

  • Environmental Risk Management
  • Technological Innovation in Insurance
  • International Financial Crime.

This structure is for full-time students only. Part-time students study the same modules but the delivery pattern will be different.

The University continually enhances our offer by responding to feedback from our students and other stakeholders, ensuring the curriculum is kept up to date and our graduates are equipped with the knowledge and skills they need for the real world. This may result in changes to the course. If changes to your course are approved, we will inform you.

Learning and Teaching

You'll be taught through a variety of taught lectures, lectorials and workshops.

Real time case studies and guest speakers will provide contemporary practice context and application, and we'll use problem-based activities to consolidate your learning.

You'll take part in field trips and live projects, network with industry, and carry out a mix of group and individual work.

Study time

Expect 12 hours a week of formal class contact time, with additional hours of private study, to prepare for class, carry out research, and attend networking events and field trips.

Assessment

We make use of a range of types of assessment, with a focus oncase studies and problem solving in an industry context.

You'll need to prepare presentations, write reports, and develop case study analyses, both individually and in groups. You'll complete an extended written project in applied risk management, based on a live industry consultancy problem.

Some modules are assessed by examination in line with the requirements of the professional body accreditation.

Entry requirements

You will need:

  • an honours degree of 2:2 or above in any subject.
English language support

If you meet the academic requirements but require additional support to take your language skills to the required level, you may be able to attend one of our pre-sessional English courses. Students who successfully complete the pre-sessional course can progress onto their chosen degree course without retaking an IELTS or equivalent.

UWE Bristol's International College

International students who do not meet the academic or English language requirements to study this course can qualify by completing preparatory study at our International College.

English Language Requirement

If English is not your first language, you will be required to meet the UK Border Agency and Universities minimum English Language requirements such as the International English Language Test (IELTS) overall score of 6.5 with 5.5 in each component.

Careers / Further study

With huge demand for qualified insurance professionals, your skills will be highly sought after.

You could go into careers in underwriting, broking or claims management, strategic risk management, governance or insure-tec.

You could work in an insurance company, brokerage, at Lloyds of London, or for a global company with significant risk challenges.

With significant scope for international work, you could also take your skills into SMEs, new ventures or broader intermediation and commercial risk roles.

Last updated September 2019

About the School

UWE Bristol is a University Alliance university with a common mission to make the difference to our cities and regions. We use our experience of providing high-quality teaching and research with real- ... Read More

UWE Bristol is a University Alliance university with a common mission to make the difference to our cities and regions. We use our experience of providing high-quality teaching and research with real-world impact to shape higher education and research policy for the benefit of our students and business and civic partners. We innovate together, learn from each other and support every member to transform lives and deliver growth. Read less
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