Risk and Insurance, MS

The Master of Science in Risk and Insurance (MSRI) is a professional degree offered primarily to early- and mid-career professionals seeking to advance their career in the field of risk and insurance.

Requirements for Graduation

The program is a 22-month, cohort-based, online program with two required in-residence portions, one at the beginning of the program and one at the end of the program.

The program requires 30 graduate credit hours. Students are required to attend two in-residence programs. The first one will take place over three days in Indianapolis and the second will take place at the end of the program. Students are required to achieve a 3.0 GPA to graduate from the program.

MSRI Student Learning Outcomes

The faculty of the LSB have identified the following student learning outcomes for students completing the MSRI curriculum. They address what students should know, be able to do, and value.

Apply specialized topics exclusive to risk and insurance to business risk situations, including property and casualty, health and life insurance and insurance linked securities
Assess risk and formulate appropriate approaches to minimize and mitigate the cost of risk
Use current and emerging tools to analyze and recommend alternative risk financing methods
Develop and demonstrate risk management and insurance solutions using advanced data analytics methods and communication strategies
Demonstrate managerial capabilities by applying financial management, team management, and leadership skills
Apply professional and ethical decision-making standards

MSRI Credit for Prior Learning

The Lacy School of Business recognizes that learning occurs through professional experience. As such, MSRI students can receive credit for prior learning (CPL) from approved professional exams and designations. Students are limited to no more than six credits including transfer credits and/or CPL in the MSRI Program. See the website for a listing of approved designations and exams.

Curriculum

The MSRI curriculum includes:

The graduate core (24 required credit hours) offers an integrated framework on contemporary risk and insurance practices
Two electives (6 credit hours) allow students to select between electives focused on law and contracts, enterprise risk management or insurance company operations. Until these courses are developed for permanent delivery, they will be offered as Special Topics courses.

Core Courses (24 hours)

MRI 510 - Leadership Min Units: 3
MRI 520 - Managerial Accounting Min Units: 3
MRI 530 - Financial Management Min Units: 3
MRI 540 - Fundamentals of Risk & Insurance Min Units: 3
MRI 542 - Risk Control Min Units: 3
MRI 544 - Big Data & Analytics Min Units: 3
MRI 546 - Alternative Risk Financing Min Units: 3
MRI 545 - Capstone with Captive Min Units: 3

Elective Courses (6 hours)

Each MSRI elective is 3-credit hours. Electives will include topics such as International Risk Management, Business Valuation, Employee Benefits, Derivatives, Insurance Company Operations, Insurance Law and Contract Analysis, Health Care Economics and Regulation, and Enterprise Risk Management.

Program Primers

Incoming MSRI students who do not have an undergraduate degree in business are strongly encouraged to complete the three MSRI primer courses in Canvas prior to starting the equivalent MSRI coursework. These courses will provide students with a non-business background the baseline knowledge to be successful in the Butler MSRI program. Although completion of these courses is not mandatory, you are unlikely to be successful in the program without this knowledge. MSRI faculty expect incoming students to possess the baseline knowledge outlined in the courses and will not review this information in their classes.

The program primers include:

Finance
Accounting
Statistics