MS in Insurance Management

The Master of Science in Insurance Management is designed specifically for professionals who have earned designation as a Chartered Property Casualty Underwriter (CPCU). It is a unique opportunity for professionals who have acquired the CPCU credential to achieve further distinction by complementing their expertise in insurance areas with proficiency in general management principles in accounting, finance, operations, and leadership. By completing eight courses, the holders of the CPCU credential could gain advanced management knowledge and an MS degree in Insurance Management. Students also have the option of choosing one of the following concentrations: 1) Applied Business Analytics, 2) Corporate Finance, 3) Project, Program & Portfolio Management, or 4) Supply Chain Management.

Students who complete the master’s degree in Insurance Management will be able to demonstrate enhanced management knowledge and expertise in the insurance industry, with the addition of a focused business core that addresses the managerial aspects and personal skills needed to be a leader in the field. A business background is necessary to complement insurance industry knowledge and provide strategic focus on how the insurance industry impacts and is impacted by management decisions, global issues, and technical innovations.

Learning Outcomes

• Business knowledge and competence in incorporating insurance management decisions in developing the business strategy of a company.
• Knowledge on how to position insurance management to the critical differentiators facing the insurance industry in the years ahead, such as (i) digital transformation of the insurance processes that can be automated; (ii) balancing the data management with the privacy concern of the customers; (iii) developing and implementing flexible business models for personalization by offering policies and prices to suit the needs and lifestyle of the individual; (iv) risk avoidance and positive reinforcement of behavior shaping; (v) knowledge on how to build hyper-connected solid customer communities online and offline; (vi) knowledge on how to transform insurance offerings into integrated ecosystems to address customers’ lifestyle needs.
• Knowledge of crucial insurance management issues and tools needed for analyzing and defining the importance of insurance-related decisions and their implementation by the customers and the service providers.
• In addition to the core learning outcomes, the graduate of the program will acquire concentration specific learning outcomes, available for each concentration area, and aligned with existing graduate certificates.

Admissions Information

For current admissions information, please visit the Metropolitan College website.

Prerequisites

Students must hold the Chartered Property Casualty Underwriters (CPCU) designation in order to earn the master’s degree. Boston University recognizes the CPCU as the equivalent of four graduate-level courses.

All students must demonstrate proficiency in mathematical skills by completing the online ALEKS math tutorial.

Degree Requirements

The Boston University Metropolitan College Master of Science in Insurance Management consists of eight required courses (32 units).* Students have the option to choose a concentration in Applied Business Analytics; Corporate Finance; Project, Program & Portfolio Management; or Supply Chain Management.

In addition, students must demonstrate achievement of the Chartered Property Casualty Underwriters (CPCU) credential.

*Degree requirements may vary for those students transferring units from previous coursework at Boston University or receiving course waivers due to professional designations.

Core Courses

(four courses/16 units)

• MET AD 632 Financial Concepts
• MET AD 642 Project Management
• MET AD 715 Quantitative and Qualitative Decision-Making

Plus, one chosen from the following three:

• MET AD 610 Enterprise Risk Management
• MET AD 616 Enterprise Risk Analytics (prereq: MET AD 571)
• MET AD 644 Project Risk and Cost Management

No Concentration (Electives)

(four courses/16 units)

Students not pursuing a concentration in Applied Business Analytics; Corporate Finance; Project, Program & Portfolio Management; or Supply Chain Management must complete the degree core courses as well as four additional courses chosen with an advisor’s approval.

Concentration Options

Students in the Master of Science in Insurance Management may select a concentration in Applied Business Analytics; Corporate Finance; Project, Program & Portfolio Management; or Supply Chain Management.

Applied Business Analytics (four courses/16 units)

In addition to the MS in Insurance Management core courses (16 units), students pursuing a concentration in Applied Business Analytics must also take the following concentration requirements:

• MET AD 571 Business Analytics Foundations

Plus, three of the following:

• MET AD 616 Enterprise Risk Analytics (if not selected as one of the core MSIM)
• MET AD 654 Marketing Analytics
• MET AD 688 Web Analytics for Business
• MET AD 699 Data Mining for Business Analytics

Corporate Finance (four courses/16 units)

In addition to the MS in Insurance Management core courses (16 units), students pursuing a concentration in Corporate Finance must also take the following concentration requirements:

• MET AD 630 Financial and Managerial Accounting
• MET AD 678 Financial Regulation and Ethic
• MET AD 685 Quantitative Methods for Finance
• MET AD 731 Corporate Finance

Project, Program & Portfolio Management (four courses/16 units)

In addition to the MS in Insurance Management core courses (16 units), students pursuing a concentration in Project, Program & Portfolio Management must also take the following concentration requirements:

• MET AD 646 Portfolio and Program Management
• MET AD 782 Project Value Strategies

Plus, one of the following:

• MET AD 647 Project and Program Governance
• MET AD 649 Agile Project Management

Plus, one elective chosen with an advisor.

Supply Chain Management (four courses/16 units)

In addition to the MS in Insurance Management core courses (16 units), students pursuing a concentration in Supply Chain Management must also take the following concentration requirements:

• MET AD 605 Operation Management–Business Process Fundamentals
• MET AD 680 Global Supply Chains

Plus, two of the following:

• MET AD 690 Strategic Logistics Management
• MET AD 734 Quality Management
• MET AD 760 International Trade and Logistics

Second Master’s Degree Option

In appreciation of the converging needs of management and technology, the departments of Actuarial Science, Administrative Sciences, and Computer Science collaborate to offer a unique opportunity to students currently enrolled in their degree programs as well as alumni of those programs. Learn more on the MET website.