School of Risk Management Analyzes Worldwide Risk Management and Insurance Education
St. John’s University’s School of Risk Management, Insurance and Actuarial Science (SRM) recently collaborated with the International Insurance Society (IIS) to analyze global risk management and insurance education in a rapidly expanding market. The Collegiate Education in Risk Management and Insurance Globally: Past, Present and Future study, authored by SRM faculty member Dr. W. Jean Kwon, calls for a need to increase the quality and broaden accessibility to risk management and insurance education programs worldwide.
To analyze collegiate education offerings, Kwon, E.A.G. Manton Chair Professor and Director of the Center for the Study of Insurance Regulation, has split the field into three perspectives. The past perspective identifies the 19th century growth and development of RMI education. The second identifies academic and professional insurance programs globally based on a survey of 116 institutions in 23 countries and nearly 150 professors. Lastly, the future perspective offers recommendations for future enhancement and availability of RMI education as the industry rapidly evolves and expands.
“The worldwide education and academic community must be attentive to the multifaceted demands of managing risk, both from within the RMI trade as well as from an increasing number of risk-bearing industries. Dr. Kwon’s findings stress the need not only to ensure the quality of existing RMI programs, but also to find ways of effectively educating people about the value of pursuing risk management and insurance as both an academic discipline and, crucially, as a profession,” said Brandon W. Sweitzer, Dean of the SRM.
Kwon’s report illustrated a severe, worldwide lack of RMI programs with the exception of China and Russia, both of which offer professionals significant growth opportunities.
To learn more, the complete report is offered for free at http://www.iisonline.org/research-program/critical-issues/. Additionally, the report is offered in Chinese, Italian, Japanese, Macedonian/Serbia- Croatian, Portuguese, Spanish and Russian.