About This Program
Are you a people person who also enjoys analysis and working with numbers? Do you want to help others plan for their financial futures while offering guidance through complex decisions? Would you like to develop high-level risk assessment skills and make informed investment recommendations? If so, the Risk Management and Insurance (RMI) major may be a great fit for you.
The RMI major introduces you to the principles of risk management and the insurance instruments used to mitigate risk, including property and casualty, auto, commercial, liability, production, and operational coverage.
Program Highlights
- Gain a solid foundation in the insurance industry and learn to apply practical risk management strategies
- Understand how to incorporate insurance and risk mitigation into long-term financial planning
- Learn about industry-specific insurance roles and broader corporate risk positions
- Prepare for an industry with high market demand for skilled professionals, especially in Minnesota and the U.S.
Research & Experiential Learning
- Network with professionals during LSBE Company Days
- Student Professional Engagement Program (PEP), which exposes you to co-curricular content and soft skills development
- Join business-related student clubs to connect with peers and mentors in your field
Student Internships
LSBE’s in-house internship program is led by a dedicated director who coordinates over 200 internships each year. The director works with both students and employers to ensure internships are valuable, relevant, and career-enhancing.
Students regularly secure internships at top companies, including: 3M, Cintas, Google, Hormel, Fastenal, Land O’Lakes, Minnesota Vikings, Target, UnitedHealth Group, Sherwin-Williams, Taylor Corporation, SPS Commerce, and many more—including remote and local opportunities during the academic year.
Potential Careers
- Insurance-Specific Roles
- Underwriting
- Actuarial services support
- Rate/premium setting
- Quantitative risk analyst
- Licensed insurance representative
- Fraud analyst
- Claims processor
- Insurance broker
- Client services specialist
- Quality assurance specialist
- Corporate Risk Management Roles
- Corporate risk manager
- Insurance compliance manager
- Risk auditor
- Credit manager
- Production/operations risk analyst
- Chief risk officer
Scholarships
LSBE awards more than 150 scholarships each year across all business majors.
Get Involved
- UMD Sales Club
- AMA (American Marketing Association)
- Accounting Club
- Finance Club
- Investment Club
- Bulldogs in Technology (BIT; formerly MIS/BA Club)
- MGD (Marketing and Graphic Design) Club
- Economics Club
- SHRM (Society for Human Resource Management)
- Student Health Care Management Association (SHMA)
- Duluth Women in Business
- Entrepreneurship Club
- UMD Analytics Club
- Management Club
- Bulldog DECA
Requirements
Refer to the link below for more detailed information about the program, admission requirements, sample plans, and contact information.
Risk Management & Insurance B.B.A. Courses & Requirements