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.

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

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.

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.

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 a deep understanding of the legal framework of insurance contracts.

The regulations for all property insurance as well as the legally regulated insurance sectors according to the Insurance Contract Act (VersVG) are comprehensively covered in the specialization "Insurance Brokers".

In the course with a degree as an academic insurance broker, the legal sources for insurance brokers, including the Insurance Broker Act (MaklerG) and the Trade Regulation Act (GewO), are intensively covered. In addition, the contractual legal foundations of insurance brokerage, aspects of broker liability, and claims settlement are taught to provide a solid understanding of the legal framework and practical requirements.

At the start of your professional training as an insurance salesman or insurance saleswoman, provisions and general regulations of insurance contract law (VersVG) are detailed, including party-specific peculiarities.  

This course of your specialization covers the basics of accounting of insurance companies, including the preparation of financial statements and consolidated financial statements. Topics such as capital adequacy, controlling, and key performance indicators are also extensively explained to provide a detailed understanding of financial and operational management.

In this course, central topics such as the financing and solvency of insurance companies are explored. In addition, the regulations of Solvency I and II as well as aspects of reinsurance and alternative forms of risk transfer are highlighted.

Our selection process involves careful consideration of the following factors:

• High motivation for joining the program

• Enthusiasm for a challenging learning experience

• Clear understanding of personal contribution to team learning and the overall cohort experience

• Relevant skills and work experience

• Strong record of career progression

• Excellent interpersonal, intercultural, and communication skills

• Passion and commitment to achieve personal growth and success

• Diversity of the student group in terms of academic, professional, and cultural background

Applicants must meet the following formal requirements:

CBA (Diplom Betriebswirt), Logistics & Supply Chain Management, Marketing & Sales, Public Auditing, Risk & Insurance Management

• Minimum of 1 year relevant work experience depending on previous school/academic education

• Completion of an Austrian or EU-approved university or college degree (all fields of study), and/or

• General university entrance qualification (Matura, Berufsreifeprüfung)

• Proficiency in written and spoken German

Health Care Management

• Undergraduate degree (Bachelor 180 ECTS or equivalent) from a recognized post-secondary institution or a relevant professional qualification in the health sector.

• Minimum of 2 years of postgraduate work experience

• Proficiency in written and spoken German

The university program is aimed at different target groups, depending on the chosen specialization:

Target Group: Specialization “Insurance Companies”

• Employees of insurance companies who want to gain in-depth knowledge of processes and the requirements of the modern insurance market.

• Individuals with professional experience or industry knowledge in the insurance sector who wish to advance their education.

• Students or high school graduates aiming for a career in the insurance industry.

Target Group: Specialization “Insurance Brokers”

• Employees of insurance brokers, insurance agents, or insurance companies.

• Professionals responsible for risk and insurance matters in industry and commerce.

• Individuals in legal and economic advisory professions.

• Students or high school graduates pursuing a career related to the insurance sector.

To enroll in the Risk and Insurance Management Certificate Program, you must meet one of the following requirements:

• Proof of professional experience in the insurance industry

• Proof of a high school diploma (Matura or equivalent)

• Completion of the insurance clerk apprenticeship with relevant practical experience

Yes, the "Risk and Insurance Management" university program allows you to specialize in a specific field that aligns with your career goals. You can choose between two distinct focus areas:

1. Insurance Companies

This focus area provides in-depth knowledge of the internal processes and challenges faced by successful insurance companies. It also covers the legal framework essential for operating an insurance business.

2. Insurance Brokers

This specialization was developed in close collaboration with the Chamber of Commerce and broker associations. It emphasizes legal frameworks and contract-related topics that are particularly relevant for insurance brokers.

In addition to building a solid foundational knowledge, the program promotes a comprehensive understanding of various types of insurance. This shared knowledge fosters greater mutual understanding and effective collaboration between insurance companies and brokers.

Upon successfully completing the Risk & Insurance Management Certificate pPogram, you will be awarded an official title from the prestigious WU Vienna University of Economics and Business, depending on your chosen specialization:

Specialization in Insurance Companies:

You will receive the title "Akademische Versicherungskauffrau ^(WU)" bzw. "Akademischer Versicherungskaufmann ^(WU)"

Specialization in Insurance Brokers:

You will receive the title "Akademische Versicherungsmaklerin ^(WU)" bzw. "Akademischer Versicherungsmakler ^(WU)".