Insurance Specialization Added to Business Program
Due to a projected strong job growth in the insurance industry, the Department of Finance is now offering a new specialization in insurance, along with a minor in insurance. At the national level, more than half of insurance professionals are projected to retire by 2025, creating ample opportunities for entry and career advancement for insurance graduates. According to a recent workforce study by Regionomics, based in Columbus, the insurance industry in the state of Ohio alone will require approximately 26,000 new workers to fill positions open between now and 2020. The state of Ohio ranks seventh in the nation with over 250 insurance companies and 100,000 employees.
Upon completion of the new insurance program requirements, students will gain exposure to more than 30 different career paths including accountant, benefits specialist, claims adjuster, claims representative, fraud examiner, insurance agent, loss prevention manager, pricing analyst, risk manager, and underwriter.
By introducing the new specialization, BGSU is one of only a few four-year degree programs in Ohio specifically focused on insurance.
The insurance specialization requires a total of 22 credit hours including 13 credit hours of five new insurance courses covering all aspects of insurance. The minor in insurance requires 22 credit hours for non-business students and 25 credit hours for business students. The most unique feature of our insurance curriculum is the 1 credit-hour course of INS 2100 (Introduction to Insurance and Insurance Careers). This course combines classroom lectures and practitioners’ presentations to provide an overview of various insurance areas and careers from highly practical perspectives.
In order to promote continuing partnerships with the insurance industry, the Department of Finance has founded the new Insurance & Risk Management Institute (IRMI) and secured funding for individual and institutional charter memberships. Through the IRMI, the insurance programs will offer a variety of events and activities for the benefits of program students and the insurance industry. Further, thanks to the IRMI member companies and the generosity of alumni, named scholarships in the amount of more than $10,000 are awarded to program students. The Department of Finance also plans to establish new insurance student organizations such as Gamma Iota Sigma Chapter at BGSU in the coming year.
Read more about the new BGSU insurance specialization and minor.