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 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
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

• 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
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
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
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
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

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
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

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
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

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•
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Individualized Business Administration
Honors Contract Program
More information go to fisher.osu.edu/honors/
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
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

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
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
Director of
Underwriting
Underwriting
Manager
Underwriting Specialist
Underwriting Supervisor Underwriting Analyst
Sr. Underwriter
Underwriter
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

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
Property Claims Mgr.
Branch Claims Mgr.
Liability Claims Mgr.
Branch Claims Supervisor
Staff Property Specialist Satff Liability Specialist
Field Adjsuter
Office Adjuster
Claims Trainee
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

Field (Sales)
Representative
Works as a liaison between the company and its agency force; communicate changes and other developments to agents
Director of Sales
Regional Sales Mgr.
Field Sales Representative
Sales Trainee
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 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
Vice President
HR Director
HR Manager
Risk Manager
Finance Director
Finance Manager
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

In general, there are two types of insurance companies:
1.
2.
Agency companies – use independent insurance agents to sell their products
– Example: Golden Rule Company
Direct writers – sell directly to the public through their own employees or agents
– Example: Progressive Insurance, State Farm
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

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
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

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
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 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
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

Fisher College of Business (2008-2009)
•
• Full-time
Intern (Finance)
$45,833
$2,626/month
NACE Salary Survey (Summer 2009)
•
• Insurance Claims $40,967
Insurance Underwriter $43,091
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/
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

• https://groups.cob.ohio-state.edu/ufa/
• https://groups.cob.ohio-state.edu/bci/
• http://fisher.osu.edu/student-groups/undergraduate
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

American Finance
Association http://www.afajof.org/
Association of Finance &
Insurance Professionals www.afip.com
Financial Management
Association International www.fma.org
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

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
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
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

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
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

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