1. Fisher College of Business The Ohio State University Office of Career Management 150 Gerlach Hall 2108 Neil Avenue 614-292-6024 fisher.osu.edu/career Risk Management & Insurance Fisher College of Business Undergraduate Specialization

2. Fisher College of Business The Ohio State University Office of Career Management 150 Gerlach Hall 2108 Neil Avenue 614-292-6024 fisher.osu.edu/career Overview What is Risk Management & Insurance (RMI)? Preparation RMI at The Fisher College of Business RMI Job Titles and Companies Professional Certifications RMI Salaries and Outlook Student and Professional Organizations Study Abroad RMI (Finance) Department Contact Information

3. Fisher College of Business The Ohio State University Office of Career Management 150 Gerlach Hall 2108 Neil Avenue 614-292-6024 fisher.osu.edu/career What is RMI? The art of providing protection against financial loss from various hazards Insurance is the financial coverage/security due to financial losses as result of death, natural disaster, traffic accidents, health problems, etc. Risk Management helps businesses control risks and losses while maintaining the highest production levels possible

4. Fisher College of Business The Ohio State University Office of Career Management 150 Gerlach Hall 2108 Neil Avenue 614-292-6024 fisher.osu.edu/career More on RMI The fields of Risk Management and Insurance are recognized as important by many corporations, hospitals, and governmental units The insurance industry is a large employer of individuals with university-level education In other industries, college graduates are employed in positions requiring an understanding of issues related to insurance (e.g. risk managers and employee benefit managers) The field of Financial Planning offers other opportunities for individuals with university-level training in Risk Management and Insurance combined with a Finance background

5. Fisher College of Business The Ohio State University Office of Career Management 150 Gerlach Hall 2108 Neil Avenue 614-292-6024 fisher.osu.edu/career A familiarity with risk management and insurance should prove useful for students who pursue careers in related areas such as health care, law, engineering and other fields in Business Administration A bachelor’s degree is required for entry into many careers within the insurance industry Outside the insurance industry, knowledge from the fields of Risk Management and Insurance is needed by Employee Benefit Managers, Financial Planners, Consultants, and Risk Managers. Increasingly, continued education after leaving the university is essential for promotion in these careers Students wishing to pursue a Risk Management and Insurance specialization should have a firm grasp of business principles as well as an interest in applying principles from Law, Finance, and Quantitative Methods Those planning to pursue careers relating to marketing insurance and financial products should have an interest in working with the public as well General Preparation

6. Fisher College of Business The Ohio State University Office of Career Management 150 Gerlach Hall 2108 Neil Avenue 614-292-6024 fisher.osu.edu/career RMI at Fisher The Risk Management and Insurance specialization is designed to provide students a firm foundation in general business principles as well as a familiarity with methods used by organizations and individuals to manage risk-- i.e., measures taken to reduce the risk of damage to physical assets, exposure to legal liability, or injury to employees or customers Issues related to management of employee benefits also are studied Within the framework of the specialization the student is provided an opportunity to choose from additional courses suited to an area of specialization For example, a student who wishes to pursue a career in financial planning may use two investment courses as part of the major

7. Fisher College of Business The Ohio State University Office of Career Management 150 Gerlach Hall 2108 Neil Avenue 614-292-6024 fisher.osu.edu/career Competitive Admissions Information concerning application to the Risk Management & Insurance specialization is available on the web: http://fisher.osu.edu/undergraduate/admissions/ Admission to specializations largely depends on space availability

8. Fisher College of Business The Ohio State University Office of Career Management 150 Gerlach Hall 2108 Neil Avenue 614-292-6024 fisher.osu.edu/career RMI Curriculum Specific information about the Risk Management & Insurance Specialization can be found on the Fisher website under: Current Students Undergraduate Students Academics There you will find a complete list of GEC, core, and specialization requirements as a downloadable pdf

9. Fisher College of Business The Ohio State University Office of Career Management 150 Gerlach Hall 2108 Neil Avenue 614-292-6024 fisher.osu.edu/career Honors Options Honors Program Business Administration Honors Cohort Program Individualized Business Administration Honors Contract Program More information go to fisher.osu.edu/honors/ fisher.osu.edu/honors/

10. Fisher College of Business The Ohio State University Office of Career Management 150 Gerlach Hall 2108 Neil Avenue 614-292-6024 fisher.osu.edu/career Top Positions in IRM for Recent College Graduates Specific career opportunities within the insurance industry include underwriters, claims administrators, information systems experts, investment managers, brokers, and sales agents. 1.Underwriter 2.Programmer/Analyst 3.Accountant 4.Claims Adjuster 5.Actuary 13.Sales Representative

11. Fisher College of Business The Ohio State University Office of Career Management 150 Gerlach Hall 2108 Neil Avenue 614-292-6024 fisher.osu.edu/career Insurance Careers Underwriters review applications for insurance and the level of risk involved in agreeing to issue a policy and what premiums should be paid Sales Managers sell insurance products, assist clients with policy questions, supervise sales staff Risk Managers develop policies the insurance company follows when making decisions regarding claims

12. Fisher College of Business The Ohio State University Office of Career Management 150 Gerlach Hall 2108 Neil Avenue 614-292-6024 fisher.osu.edu/career Career Path for an Underwriter Underwriters Appraise and make decisions on applications submitted for insurance – they determine if the risk is acceptable by company standards

13. Fisher College of Business The Ohio State University Office of Career Management 150 Gerlach Hall 2108 Neil Avenue 614-292-6024 fisher.osu.edu/career Career Path for Claims Adjuster Claims Adjuster Investigate, negotiate, and settle claims when policy holders suffer a loss; are in constant contact with policy holders and their goal is to settle claims fairly

14. Fisher College of Business The Ohio State University Office of Career Management 150 Gerlach Hall 2108 Neil Avenue 614-292-6024 fisher.osu.edu/career Career Path for Sales Field (Sales) Representative Works as a liaison between the company and its agency force; communicate changes and other developments to agents

15. Fisher College of Business The Ohio State University Office of Career Management 150 Gerlach Hall 2108 Neil Avenue 614-292-6024 fisher.osu.edu/career Career path for Risk Management Risk Manager Works to protect people, property and inventory in five general categories: damage to property, loss of income from property damage, injury to others, fraud or criminal acts, and death or injury of employees

16. Fisher College of Business The Ohio State University Office of Career Management 150 Gerlach Hall 2108 Neil Avenue 614-292-6024 fisher.osu.edu/career Types of Organizations In general, there are two types of insurance companies: 1. Agency companies – use independent insurance agents to sell their products –Example: Golden Rule Company 2. Direct writers – sell directly to the public through their own employees or agents –Example: Progressive Insurance, State Farm

17. Fisher College of Business The Ohio State University Office of Career Management 150 Gerlach Hall 2108 Neil Avenue 614-292-6024 fisher.osu.edu/career Insurance Training Most positions require a bachelors degree Actuaries must pass a series of exams over a period of 5 to 10 years to become fully qualified Special training is provided by the insurance company People are typically promoted from within the organization

18. Fisher College of Business The Ohio State University Office of Career Management 150 Gerlach Hall 2108 Neil Avenue 614-292-6024 fisher.osu.edu/career Companies Hiring RMI Students Progressive Insurance Prudential Amica Mutual Insurance Co. Travelers Insurance Oswald Companies CareFusion United Health Group JPMorganChase Nationwide Great American Insurance Company Great-West Life & Annuity Liberty Mutual Mass Mutual Financial Group MetLife Financial Services Motorists Insurance Company New York Life Abbott Laboratories

19. Fisher College of Business The Ohio State University Office of Career Management 150 Gerlach Hall 2108 Neil Avenue 614-292-6024 fisher.osu.edu/career RMI Certifications Professional designations often appear after the names of risk managers, employee benefit managers, and executives in the insurance industry AUA – Associate of Institute Actuaries ARM – Associate in Risk Management CLU – Chartered Life Underwriter CPCU – Certified Public Casualty Underwriter CIC – Certified Insurance Counselor CFP – Certified Financial Planner

20. Fisher College of Business The Ohio State University Office of Career Management 150 Gerlach Hall 2108 Neil Avenue 614-292-6024 fisher.osu.edu/career RMI Salaries Fisher College of Business (2008-2009) Full-time $45,833 Intern (Finance)$2,626/month NACE Salary Survey (Summer 2009) Insurance Claims$40,967 Insurance Underwriter$43,091

21. Fisher College of Business The Ohio State University Office of Career Management 150 Gerlach Hall 2108 Neil Avenue 614-292-6024 fisher.osu.edu/career General RMI Outlook Overall employment of adjusters, investigators, and collectors is expected to grow as fast as the average for all occupations over the 2006-2016 period Most job openings, however, will result from the need to replace workers who transfer to other occupations or leave the labor force See the Occupational Outlook Handbook for additional information: http://www.bls.gov/OCO/http://www.bls.gov/OCO/

22. Fisher College of Business The Ohio State University Office of Career Management 150 Gerlach Hall 2108 Neil Avenue 614-292-6024 fisher.osu.edu/career Student Organizations Undergraduate Finance Association (UFA) https://groups.cob.ohio-state.edu/ufa/ Buckeye Capital Investors https://groups.cob.ohio-state.edu/bci/ Additional Fisher Student Organizations http://fisher.osu.edu/student-groups/undergraduate

23. Fisher College of Business The Ohio State University Office of Career Management 150 Gerlach Hall 2108 Neil Avenue 614-292-6024 fisher.osu.edu/career Professional Organizations American Finance Association http://www.afajof.org/ Association of Finance & Insurance Professionals www.afip.com Financial Management Association International www.fma.org

24. Fisher College of Business The Ohio State University Office of Career Management 150 Gerlach Hall 2108 Neil Avenue 614-292-6024 fisher.osu.edu/career Study Abroad & Exchange Contacts Fisher International Programs Office http://fisher.osu.edu/international/ OSU Office of International Affairs http://oia.osu.edu/ OIA has many other opportunities for business and non-business opportunities to supplement the Fisher curriculum

25. Fisher College of Business The Ohio State University Office of Career Management 150 Gerlach Hall 2108 Neil Avenue 614-292-6024 fisher.osu.edu/career Study Abroad & Exchange Programs (CIBER) Copenhagen Business School, Denmark Technische Universitat Dresden, Germany Nantes Summer School, France Trinity College, Dublin, Ireland Quinn School of Business, Dublin, Ireland London School of Economics, England Instituto Technologico y de Estudios Superiores de Monterrey, Mexico Hong Kong University of Science and Technology Singapore Management University Curtin School of Business, Perth, Australia

26. Fisher College of Business The Ohio State University Office of Career Management 150 Gerlach Hall 2108 Neil Avenue 614-292-6024 fisher.osu.edu/career Max M. Fisher College of Business Academic Department: Finance The Ohio State University 700 Fisher Hall 2100 Neil Ave Columbus, OH 43210-1144 (614) 292-5026 http://fisher.osu.edu/fin

27. Fisher College of Business The Ohio State University Office of Career Services 150 Gerlach Hall 2108 Neil Avenue 614-292-6024 fisher.osu.edu/career fisher.osu.edu Fisher logo http://fisher.osu.edu