Insurance has been found as a key factor for not only for the organization but for every individual to manage the risk, each organization have realized that insurance is the keen factor for organization to maintain risk for the survival from a huge loss. The loss is uncertain, the fire in the building or damage of machinery , the road accidents, the sinking of shipment in the middle of the ocean, any political uncertainty which cause loss to company in shape of strike, fire to vehicles and so on. These are the internal and external factor in which a company operates it operation, these factors are keen and must be maintained on prompt basis.
The policies are purchased for the above mentioned uncertainties which may occur during business, if anything happens than whatever the amount has been insured by the company to offering company is to be paid by the company. We have seen so many things in-front of us that cause a huge to company, the major issue was of the September eleven on that historic ocean there can be so many people who have insured their lives or their building or their business, these claims are paid by the insurance companies, this was really a sad news for the people of United States of America that world trade center has been hit by the two hijacked plans. All the insured people are fully paid by their insurance companies
In the developed countries people are well aware from the importance of insurance where as countries which are under-developing or developing country are not well aware of such facility.
For a business candidate it is necessary for him or her to have enough knowledge regarding the uses of insurance, if a company whose most of the business depends on the risk is not aware from such vital factor cannot survive for longer period. Say for suppose that if any marine shipment company have not purchase any policy for the safety of its consignment any contingency occurs no claim will be asked to them. It is not only beneficial or company owner but also the customers who give orders for shipment it let me relax for the safe arrival of delivery.
People who are specialized in the Masters in Business Administration in Insurance are always focused on the risk management decision, how quick they can avail and benefit their company, is very crucial for each organization.
Companies hire specialist for such contingency to deal with, these candidates are having grip on analytical skills, they are really good in numerical problems. For the calculation of risk an MBA degree hold must be able to make anticipations regarding the risk or making decision or investing money and so on and so for.
The subjects that are offered in such programs can be Risk Management, Risk Financing Strategies, Insurance Asset Management, Estate Planning and many other as well.
And now if we can discuss about the career options for the people who do MBA in Insurance is that they can be employed in different posts in different organizations. Companies which are related with insurance only the positions at there can be General Manager , Financial Manager etc.