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Risk & Insurance Management | Certificate Program
The certificate program in Risk & Insurance Management offers first-class education and development for all those who want to advance their career in the insurance industry. The program is aimed at experienced professionals who want to deepen and specialize their knowledge, as well as graduates who are looking for their first entry into the insurance industry.
The WU Executive Academy provides you with practical knowledge of the legal and business fundamentals of the insurance industry, supplemented by special topics such as accounting, reinsurance and risk analysis, offering a close link between theory and practice through case studies and exchange with industry experts.
Upon completion of the certificate program, participants are awarded the title of "Akademische*r Versicherungsmakler*in” or "Akademische*r Versicherungskaufmann bzw. kauffrau", depending on their chosen specialization.
Part-Time Continuing Education: Learning, Working and Living Flexibly
The part-time certificate programs at the WU Executive Academy are perfectly tailored to the needs of working professionals and offer an ideal combination of flexibility, regional accessibility and professional development:
- Flexible Modules: The courses are held in blocked sessions on Fridays and Saturdays.
- Part-Time: Participants complete the course in 18 months alongside their professional career.
- Regional Flexibility: The format also allows interested participants outside the greater area of Vienna to complete a continuing education program at the renowned WU Vienna University of Economics and Business.
- Career Advancement: You will benefit from high-quality and recognized training that will effectively advance your career with a degree as an academic insurance broker or insurance salesperson.
Practical Education for Brokerage & Insurance Sectors
The contents of the certificate program risk & insurance management combine the latest scientific findings with practical know-how. The specialist topics are taught by renowned university professors and leading top managers in the insurance industry.
Our course makes it easier for graduates to understand complex interrelationships in the brokerage and insurance industry. The focus lies not only on basic technical knowledge, but also on effective application methods and implementation skills. Another highlight of the program includes a detailed case study that enables participants to apply what they have learned in realistic scenarios.
Certainty for your Career Leap in the Insurance Industry
The certificate program in risk & insurance management at the WU Executive Academy develops and teaches the following skills:
- Business management and general legal understanding
- Specialist skills in the field of insurance operations and risk management
- Knowledge of the special legal framework conditions of the insurance industry
- Knowledge of the various insurance products
- Management and leadership skills
Depending on your specialization, you will also gain
- Specialist knowledge of internal processes in insurance companies or
- Specialized knowledge of legal framework conditions for insurance brokers
Economic Fundamentals
General Business Administration
Introduction and basic overview of general business administration (ABWL), corporate management and management theory.
Market & Customer in the Digital Age
Gain a comprehensive insight into the principles and characteristics of marketing in a social context. Our speakers will provide you with valuable information to help you understand current trends, such as digitalization and globalization, and the resulting influences on target groups.
Personnel, Management & Organization
The certificate program in risk & insurance management provides comprehensive knowledge of the basic principles and systems of corporate management and human resources processes. In addition, the basics of organization in insurance operations are covered, including the criteria for organizational design in insurance companies. Models of the organizational structure as well as the main and secondary work processes are also explained in detail.
Fundamentals of Insurance Management
As part of the program, participants gain a comprehensive insight into insurance management and clarify key questions such as "What is insurance?". The course covers definitions and product concepts, as well as the operational functions of insurance management. In addition, a comparison is made between private insurance and social insurance, with the characteristic features of both systems being worked out in detail.
Basic Principles of Risk Management
The focus lies on the business classification and the definitions of "risk management", "security", "risk" and "damage". Different types of risk and the framework conditions of risk management are examined, as is corporate risk management. The processes in risk management and their systemic and organizational effects are examined in detail.
Insurance Economics and Actuarial Mathematics
The certificate program in risk & insurance management deals with fundamental concepts of insurance economics, including risk sharing and diversification, insurance demand, insurance contract structures and asymmetric information problems. In addition, life and health insurance mathematics and various types of personal insurance are covered in this module. Key terms and their meaning, mathematical principles such as interest rates and similar aspects, as well as calculation bases and their effects in the event of changes, are covered in detail.
Insurance-Specific Legal Bases
The courses in this module teach the general principles of commercial law and deal with specific legal aspects of the insurance industry. This includes:
- Labor law
- Tax law
- Compensation and consumer protection law
- Brokerage law
- Distribution law
Insurance Supervisory Law
Important terms and the role of legal and supervisory bodies in the insurance industry are covered. Topics such as licensing, solvency, accounting and investment regulations for insurance companies are also discussed.
Insurance-Specific Legal Bases
Your education in the field of insurance and risk management covers general business law fundamentals and delves into the legal aspects of the insurance industry. This includes:
- Labor law
- Tax law
- Compensation and consumer protection law
- Brokerage law
- Distribution law
Line of Business & Case Study
Personal Insurance
The general provisions relating to the class customer cover many insurance areas that are regulated by various contractual legal sources and insurance conditions. These include, among others:
- Life insurance
- Health insurance
- Accident insurance
- Company pension scheme (BAV)
- Pension funds
- Future provisions
- Long-term care insurance
- Occupational disability insurance
- Asset insurance
Property Insurance
In this course of your education in risk and insurance management, you will receive comprehensive information on various insurance products. The following types of insurance are covered:
- Household insurance
- Homeowners insurance
- Fire insurance
- Storm insurance
- Burglary insurance
- Transportation insurance
- Technical (property) insurance
- Business interruption insurance
- General liability insurance
- Special liability insurance
- Motor vehicle insurance
This overview should help you better understand the different insurance options and to recognize their specific functions and conditions.
Case Study
The risk and insurance management certificate program includes a practical case study and a business simulation. These formats enable participants to apply their knowledge and play through real-life insurance scenarios.
Management Skills & Future Topics
The certificate program risk & insurance management promotes team skills as well as presentation and moderation techniques. In addition, an expert forum on current topics is offered in the practical dialog to enable in-depth knowledge transfer and discussions.
Specialization: Insurance Companies
The content of the "classic" insurance program can be found in the specialization "Insurance Companies". The specialization was developed over 30 years ago in close cooperation with the insurance industry and has created a network of more than 700 graduates and lecturers.
The target group are employees of insurance companies who would like to deepen their knowledge of the processes and requirements of the modern insurance market. The specialization is also aimed at people with professional experience or industry knowledge in the insurance industry, as well as students or high school graduates who are looking for a career in insurance management.
Insurance Contract law
At the start of your professional training as an insurance agent, the provisions and general regulations of insurance contract law (VersVG) are dealt with in detail, including the special features specific to the line of business.
Accounting and Analysis of Key Figures in Insurance Companies
This course of your specialization covers the basic principles of accounting for insurance companies, including the preparation of annual reports and consolidated financial statements. Topics such as capital adequacy, controlling and key performance indicators are also comprehensively explained to provide a detailed understanding of financial and operational management.
Financing and Reinsurance
In this course, central topics such as the financing and solvency of insurance companies are examined in depth. In addition, the regulations of Solvency I and II as well as aspects of reinsurance and alternative forms of risk transfer are examined.
Specialization: Insurance Brokers
The "insurance broker specialization" is an additional offer to the "classic" insurance training and was designed in close cooperation with the professional association and the broker associations.
The course is aimed at employees of insurance brokers, insurance agents and insurance companies who wish to expand their expertise in brokerage. Professionals responsible for risk and insurance issues in industry and commerce, as well as people in the legal and business advisory professions, also benefit from this training to become academic insurance brokers. In addition, the "Insurance Broker" specialization is ideal for students or high school graduates who want to pursue a career in the insurance brokerage industry.
Insurance Contract Law - Basic Course
One focus of your training as an academic insurance broker is on the provisions and general regulations of insurance contract law (VersVG), which are crucial for an in-depth understanding of the legal framework of insurance contracts.
Insurance Contract Law - In-Depth Course
The regulations for the entire non-life insurance as well as the legally regulated insurance lines according to the Insurance Contract Act (VersVG) are dealt with comprehensively in the specialization "Insurance Brokers".
Legal Foundations for Insurance Brokers
The course leading to the qualification of an academic insurance broker covers the legal sources for insurance brokers, including the Brokers Act (MaklerG) and the Trade Regulation Act (GewO). In addition, the contractual legal basis of insurance brokerage, aspects of broker liability, and claims settlement are taught in order to provide a sound understanding of the legal framework and practical requirements.
Official Degree from WU Vienna University of Economics and Business
Depending on their specialization, participants in the certificate course in risk & insurance management receive a subject-related title from the renowned WU Vienna University of Economics and Business upon successful completion..
Official Degree: Specialization Insurance Company
After completing the certificate program risk & insurance management, participants receive the title "Akademische Versicherungskauffrau (WU)' bzw. "Akademischer Versicherungskaufmann (WU)" from the WU Vienna University of Economics and Business.
Official Degree: Specialization Insurance Broker
After completing the certificate program risk & insurance management, participants receive the title "Akademische Versicherungsmaklerin (WU)" bzw. "Akademischer Versicherungsmakler (WU)" from the WU Vienna University of Economics and Business..
More Study Programs
Get ready for a career move with the WU Executive Academy's study programs. Are you trying to stay on top of your game in a dynamic working world and continuously develop your skills? Our programs offer you the ideal opportunity to expand your skills and meet the challenges of the modern business world.
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