INS 1990. Elective. (1-4 Hours)
Offers elective credit for courses taken at other academic institutions. May be repeated without limit.
INS 2990. Elective. (1-4 Hours)
Offers elective credit for courses taken at other academic institutions. May be repeated without limit.
INS 3990. Elective. (1-4 Hours)
Offers elective credit for courses taken at other academic institutions. May be repeated without limit.
INS 4990. Elective. (1-4 Hours)
Offers elective credit for courses taken at other academic institutions. May be repeated without limit.
INS 6100. Introduction to Insurance Data Analytics. (3 Hours)
Offers an overview of analytics concepts and practices. Uses case studies of successful analytics initiatives within the insurance industry to examine how the collection and analysis of data impacts decision making. Introduces statistics for business analytics from an analysis-of-data viewpoint. Topics include frequency distributions; measures of location; mean, median, mode; measures of dispersion; variance; graphic presentation; elementary probability; populations and samples; sampling distributions; categorical data; continuous probability distributions; confidence intervals; and hypothesis testing. Offers students an opportunity to engage with the current theories, practices, and debates in the field of analytics to critically examine its practice for insurance industry professionals.
INS 6150. Intermediate Insurance Analytics. (3 Hours)
Introduces fundamental data due diligence, reliability, data correction, and recoding processes and practices as they apply to the insurance industry. Expands on approaches to discerning and validating patterns in data through sound applications of the scientific method. Emphasizes regression, chi-square and ANOVA testing, regularization, and generalized linear models. Offers students an opportunity to obtain the fundamental data management, review, reengineering, and exploration skills required to successfully develop the data analytical competencies in demand across the insurance industry.
Prerequisite(s): INS 6100 with a minimum grade of C- or INS 6040 with a minimum grade of C-
INS 6200. Insurance Finance. (2 Hours)
Provides a rigorous combination of theory and practice in the fundamental principles of finance with insurance companies. Offers students an opportunity to become familiar with many of the core finance principles and concepts commonly applied in the insurance field on a daily basis. Identifies and reinforces work-related practices such as analyzing financial statements, the application of time value of money concepts, asset valuation on a discounted cash flow basis, cost-benefit analysis, and the quantification of the multifaceted relationship between risk and return associated with different insurance products.
Prerequisite(s): INS 6150 with a minimum grade of C-
INS 6250. Claims Management. (3 Hours)
Introduces how claims are adjudicated in the insurance industry, focusing on specific steps and processes of principled claims management. Addresses the shifting technological landscape, exploring analytics as a tool for claim resolution and fraud detection, as well as providing information about the operational and regulatory environment in which claims are processed and managed. Reviews and evaluates case studies. Illustrates how insurance regulations and compliance requirements have a significant, influential impact on the products sold and insurance carrier behavior in risk. .
Prerequisite(s): INS 6150 with a minimum grade of C-
INS 6300. Insurance Underwriting. (3 Hours)
Introduces fundamental underwriting objectives and techniques across multiple lines of the insurance business. Studies how to apply risk analysis methodologies to pricing, negotiating, and client service, integrating the most current tools and trends in analytics that have and will become essential to the underwriting process. Studies how to analyze the impact of insurtech on the insurance industry, identify applied practices that may transform underwriting, and examine decision science principles to foster better understanding of how to select data for underwriting evaluation.
Prerequisite(s): INS 6150 with a minimum grade of C-
INS 6350. Predictive Analytics in Insurance. (3 Hours)
Introduces the analytics realm of digital transformation in the insurance industry. Delves into the pivotal role of predictive modeling for fraud detection, insurance pricing, risk assessment, and claims management. Examines how to leverage cutting-edge AI-powered technologies to unlock the potential of and use of predictive analytic tools to gather data from diverse sources, including customer portals, self-service apps, CRM systems, telematics, and smart home sensors. Provides experiential hands-on deployment of model training, validation, and testing. Familiarizes students with industry-standard data processing, analysis, and modeling tools. Offers students an opportunity to develop expertise in predictive analytics, harnessing the power of historical data, advanced machine learning algorithms, and statistical modeling to anticipate future events.
Prerequisite(s): INS 6150 with a minimum grade of C-
INS 6610. Insurance Regulation and Law. (3 Hours)
Presents a comprehensive overview of regulation and legal issues in the insurance industry. Covers key concepts of insurance regulation, state and national regulations, and the impact of stakeholders. Examines the role of the National Association of Insurance Commissioners, compares U.S. regulations to those of other countries, and explores the challenges presented by and toward insurtechs. Also studies current regulatory trends to prepare for the transformation of the insurance industry. Designed to help learners be informed and current on the constantly evolving regulatory environment.
INS 6620. Macrochallenges in Insurance. (3 Hours)
Studies the macrochallenges facing society (aging population, climate change, pandemics, data proliferation, etc.) and the way in which the insurance industry adapts and changes to address those challenges. Society faces a complex array of outsized, existential risks threatening our ways of life, our assets, and even our planet. The insurance industry’s relationship to these societal challenges represents a pivotal core source for managing these issues.
INS 6630. Advanced Reinsurance. (3 Hours)
Examines the fundamental mechanics of reinsurance, discovering how to use reinsurance to better create, pursue, and achieve core and strategic business goals. Explores the capital markets and how those financing sources evaluate the industry for investment purposes. Analyzes core aspects of reinsurance contract administration, as well as the financial management benefits and risks associated with reinsurance vehicles, markets, and partners. Offers students an opportunity to apply this knowledge to examples of uses and pitfalls of reinsurance purchasing.
Prerequisite(s): (INS 6200 with a minimum grade of C- ; INS 6300 with a minimum grade of C- ) or (INS 6010 with a minimum grade of C- ; INS 6030 with a minimum grade of C- )
INS 6640. Distribution and Sales. (3 Hours)
Introduces the evolving marketing and sales needs and some of the fundamental building blocks that help companies grow. Covers the traditional distribution models and the physical sales forces used by the industry. Dedicates meaningful time understanding the contemporary disruptions to the traditional distribution and sale models brought on by the integration of data, machine learning, AI, and the trend toward digital customer acquisition and engagement. Explores how marketing and distribution leaders need to be (and already are) change agents in the industry and work collaboratively with underwriting, legal and compliance, actuarial, and IT and operations teams to deliver on customer expectations.
Prerequisite(s): INS 6010 with a minimum grade of C- ; INS 6020 with a minimum grade of C- ; INS 6030 with a minimum grade of C- ; INS 6040 with a minimum grade of C- ; INS 6050 with a minimum grade of C- or INS 6040 with a minimum grade of C-
INS 6962. Elective. (1-4 Hours)
Offers elective credit for courses taken at other academic institutions. May be repeated without limit.