Real-world experience working with and learning from leading industry practitioners and firms allows risk management and insurance students to put the core of their MBA coursework into practice. From your first semester, you will take part in consulting projects to produce actionable plans for respected firms. Classroom presentations by industry practitioners, site visits to leading businesses, and regular participation in major industry conferences will give you direct exposure to cutting-edge practices and to leaders in the risk management and insurance fields.

Consult for Leading Corporations

Students in the risk management and insurance specialization gain hands-on experience while working with successful industry leaders and organizations on a variety of applied learning projects. In addition to providing detailed analyses and recommendations to companies on real issues they face, students also gain leadership experience by hiring and managing undergraduate students who serve as analysts and assist on the applied learning projects.

For a recent consulting project, risk management and insurance students analyzed the potential financial and strategic advantages that could be realized by American Family Insurance through the establishment of a captive insurance company. Students conducted both qualitative and quantitative analysis, from strategic cost and benefit of setting up a captive entity, to actuarial loss simulation and prediction. Throughout the project, students interacted with many industry professionals and benefited from their expertise and guidance. At the conclusion of the project, the students completed a feasibility study to help support American Family Insurance's strategic decision-making.

CEO of OneBeacon, Mike Miller
Mike Miller, CEO of OneBeacon, speaks with a Wisconsin MBA student in risk management and insurance following a current topics session.

Learn Directly from Industry Leaders

The risk management and insurance industry is constantly affected by changing markets, laws, and consumer demands. Current topics sessions, featuring presentations by peers and guest speakers, keep risk management and insurance students informed of the issues they will be called upon to solve as future industry leaders. Recent presentations from representatives of PricewaterhouseCoopers, American Family Insurance, and the Insurance Information Institute focused on the influence of mobile devices and analytical technology on the insurance industry. Past presentations on specific industry changes in cyber security, alternative capital, alternative risk financing, the global insurance market, and emerging microinsurance markets from groups such as PartnerRe and Swiss Re Group delved deeper into evolving industry practices from the perspective of leading professionals.

See Global Innovators in Action

Wisconsin MBA students specializing in risk management and insurance conduct regular visits with innovators in the field both near campus and around the world. Site visits have taken students to see how Marsh Client Technologies implements and tracks enterprise risk management tools not only in nearby Chicago, but also in their London offices. Risk management and insurance students also gain an international perspective from domestic trips, as they did while visiting Aon offices in Chicago to discuss the role of hedge funds, private equity, and even risk solutions for kidnappings in markets around the world. Students have visited a broad range of companies, including Clearcover, an online auto insurance start-up; Optum, a medical benefits services provider; and AIG, a global insurance provider. A first-person look at how businesses respond to increasingly global markets, and how they use advanced data systems to meet customer needs, will give you practical experience you can call upon throughout your career.

Joshua Berman

“The applied learning project allowed me to gain real-world risk management experience by working on a complex and multifaceted project in a corporate environment. It was an extraordinary opportunity to complement my background while enhancing my subject expertise and leadership skills, which were valuable to my early-career success.”

—Josh Berman, Small Commercial Product Manager, The Hartford

“Collaborating with the risk management and insurance students at the Wisconsin School of Business during the spring of 2015 provided valuable insights into United's attritional losses and risk profile. The students identified opportunities to more strategically collect data that we are implementing to improve risk awareness at United. Working with students who bring talent, enthusiasm, and a fresh perspective is one of the benefits of developing strong partnerships with educational institutions.”

—Andy Nottestad
Managing Director—Risk Management, United Airlines, Inc.

Gunwoo Choi

“The entire applied learning process helped me to learn more about enterprise risk management, grow closer to my classmates, and build my network of industry connections. Our finished product, a white paper, was featured on the website of the risk management consulting firm Willis Towers Watson.”

—Gunwoo Choi, MBA

The Risk Management and Insurance Experience

Every semester, risk management and insurance students receive hands-on training and expert advice from senior executives. These applied learning sessions prepare our graduates to tackle some of the industry's most pressing challenges.

Hear from our students