Insurance: For an exchange of payment, there occurs a transfer of risk of incurring losses from one entity to the other and this is referred to as INSURANCE.
Risk: The anticipated or calculated chance taken to earn profit behind an activity which may involve the outcome to be taking a shape of loss as well is RISK.
Risk Management is basically the cover that is made against the risk involved during a certain loss. It can be considered as the practice of controlling or minimizing risks.
Risk Management deals with risks related to:
Those with creative mindsets and diverse knowledge of market with keen interest in the financial sectors and Economic analysis prospects can opt to be in this field as this will be best suited for them.
Current Market Demands
Due to the advanced lifestyle, Urbanization, Globalization, Liberalization the entry of foreign markets and businesses has increased a lot in our nation and so is the increase in the risk involved in making deals with firms. So, there needs to be a proper assessment, research and analysis on the proposals and the work before execution just to ensure that the risk involved may be counterfeited. In this context, the subject of Insurance and risk management has been introduced in the market and thereby the demand of such professionals has immensely increasing.
Courses & Eligibility
Graduation is the minimum educational qualification needed to enter in this field. But Being an MBA with strong quantitative and qualitative decision making makes it more feasible. Besides, an additional experience in Law, accounting and Insurance compliance makes a candidate more worthy and eligible.
Mostly the jobs in this field are in the financial sectors as most of the firms that consider losses and risks to be accounted for take it to the Financial segments. Insurance companies, Venture capitalists, Wealth Mangers and even many of the Entrepreneurs look for such competent candidates for their firms. The various designations or profiles on which a candidate of Insurance and Risk Management are appointed are as follows:
Colleges & Institutes
Course : International Post Graduate Diploma In Risk Management
Duration : 1 year
Course : Certificate Course in Enterprise Risk Management.
Course : Diploma in Treasury, Investment and Risk Management.
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