There is a notable growth in the financial services market, particularly in the insurance and risk management sectors.

The demand for insurance and risk management professionals has never been so high nor has it ever been growing so rapidly. This is attributable to various political, economic, social and technological factors and evolutions in all aspects of modern societies, which in turn continue to generate and attract local and international investment. The Department of Insurance & Risk Management plays a leading role in addressing such demand by maintaining strong links with key local and international players and by offering world-renowned undergraduate and postgraduate qualifications for local and international students. Our courses open up doors to work in any field and sector of the economy not only the financial sector.

Bachelor of Commerce in Insurance and Risk Management

The Bachelor of Commerce in Insurance and Risk Management is very popular among University students. The interdisciplinary program is suitable for students having a wide variety of skills, and provides a solid foundation for exciting careers in various sectors, including insurance and risk management. It also provides a solid foundation for our M.A. and M.Sc. degrees in Insurance and Risk Management, which provide  an exemption to successful graduates from the FERMA RIMAP exam and lead to the Certified as Professional Risk Manager certification by FERMA. These M.A. and M.Sc. degrees enable graduates to use the ‘RIMAP Certified’ designation. The B.Com. degree also provides a solid foundation for any other related M.Sc., M.A. or M.B.A. programme offered locally or internationally.

Master of Arts and Master of Science in Insurance and Risk Management

Our Master of Arts and Master of Science degrees in Insurance and Risk Management are also very popular and chosen by a wide variety of graduates and professionals who hold undergraduate or postgraduate degrees in various disciplines, including not only in insurance and risk management but also in psychology, the arts, health care, philosophy, theology, mathematics, physics, and others.

Further information about the M.Sc. in Insurance and Risk Management

The M.Sc. degree enables successful candidates to choose elective study units under one of the following three blocks:

Block 1 - Financial Planning

This block delves into the latest global developments within the insurance market. It covers advanced material in both personal and commercial lines, as well as broader considerations related to emerging issues such as Environmental, Social and Governance (ESG) issues, digitalisation, climate change, risk management and alternative risk transfer. The curated modules included as part of this block equip students with the knowledge and skills necessary to succeed and thrive within today’s dynamic global business environment and prepare successful students for future regulatory and market changes in this ever-evolving business environment.

For information about the structure of Block 1 refer to this link Block 1 [PDF].

Block 2 - Governance, Risk Management and Compliance

This block focuses on the skills, capabilities and knowledge necessary to ensure that an organisation navigates the various risks and uncertainties inherent in its operating environment, achieving its objectives ethically and reliably. The modules tackle a wide array of topics that are essential for any organisation, particularly those operating within the financial sector. The topics include: risk management reporting and compliance, the prevention of money laundering, the management of risks that emerge as a result of the adoption of new technologies, the management of geopolitical and environmental risks, and business continuity management.

For information about the structure of Block 2 refer to this link Block 2 [PDF].

Block 3 - Quantitative Risk Management

This block provides students with a technically sound, yet intuitive treatment of the latest mathematical and statistical methods necessary for quantitative risk assessment and management. In an increasingly turbulent, interconnected and digitised business environment, business and organizational risks are also becoming more complex and multifaceted. Such increased complexity necessitates the use of quantitative techniques for the analysis of the growing volumes of relevant data and to enable appropriate strategies and action plans for the navigation of these risks. The focus of these modules is on enabling successful students to intuitively apply these techniques in real-world scenarios. Various case studies are used to illustrate the use of such methods.

For information about the structure of Block 3 refer to this link Block 3 [PDF].

Block 4 - Behavioural Risk Management

This block provides students with specialised expertise and abilities to understand, assess, and manage risks associated with human behaviour across various sectors, including finance, healthcare, cybersecurity, and environmental management. The programme covers several critical aspects, employing an interdisciplinary approach that draws on knowledge from fields such as psychology, sociology, economics, and other related disciplines. Its objective is to explore the influence of human behaviour on risk perception, decision-making, and risk outcomes. The modules within block 4 allow students to integrate information from multiple disciplines to develop a comprehensive understanding of risk dynamics. Additionally, this block addresses the new financial services regulations on ESG Investing, which will come into effect in 2024.

For information about the structure of Block 4 refer to this link Block 4 [PDF].

Quality and Recognition of our B.Com., M.A. and M.Sc. Programs

The quality, relevance and recognition of our programs are assured through constant content revisions and the adoption of a research-led approach, as well as the qualifications and experience of our Lecturers. Moreover, our courses enable successful graduates to join a growing global community of insurance and risk management professionals. For example:

• Our M.A. and M.Sc. graduates are exempt from the FERMA RIMAP exam and will receive the Certified as Professional Risk Manager certification by FERMA. They are also allowed to use the ‘RIMAP Certified’ designation.
• Our qualifications have been recognised by the Chartered Insurance Institute. For more information refer to this Link [PDF]

This opens doors to a multitude of exciting opportunities, both locally and internationally.