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Olivet Collegeís RMIC doing its part to support Michiganís economy
Aug 19, 2009

When it comes to supporting job growth and improving Michigans economy, Olivet Colleges nationally-ranked Risk Management and Insurance Center (RMIC) is doing its part to educate and graduate future insurance industry leaders.

Recognized as one of the worlds most notable academic risk management programs by Risk Management magazine, the RMIC at Olivet is constantly improving its curriculum and striving to remain a leader in insurance education not only in the state of Michigan, but throughout the world. Recent improvements include adding a minor in insurance claims investigation, a decision that was hailed by insurance professionals throughout the state.

The insurance claims investigation minor is the only program of its kind to be offered in the state of Michigan. The RMIC combined with the Criminal Justice Program at Olivet to create the minor, which teaches students how to investigate and identify fraudulent activity in insurance claims. Completion of the minor requires field experience through a claims investigation internship, in addition to at least 28 semester hours in insurance and criminal justice courses.

In addition, a new actuarial science major was recently approved at the college. Faculty created the major in response to the corporate worlds growing interest in actuaries, who evaluate the likelihood of events and plan for the financial consequences of risk. The major is designed to provide the necessary mathematical and business knowledge for students to prepare for the actuarial science exams administered by the Society of Actuaries and the Casualty Actuarial Society.

Both the insurance claims investigation minor and actuarial science major were approved just three months after Olivet College announced a new Master of Business Administration (MBA) in Insurance degree program. Offered entirely online, the MBA is designed to appeal to full-time working insurance professionals throughout the nation, as well as recent graduates looking to continue their education. It is one of only three online masters programs in insurance in the United States, and the only one to offer blended distance learning techniques. These include synchronous elements, such as live webinars and interactive video where students and instructors can see and speak with each other, and asynchronous elements such as online posting capabilities.

According to the Lansing Regional Chamber of Commerce, insurance companies in Michigan currently employ 55,000 workers, with an additional 5,000 jobs expected to be created over the next five years. Another 2,500 jobs are expected from industries that supply insurance companies, while 8,000 jobs are projected as a result of the growing insurance industry.

This is our way of helping to improve economic opportunities in the state of Michigan, said Olivet College President Don Tuski, Ph.D. Insurance is an important industry and an integral part of our society, and we want to provide the best educated and responsible employees.

There is no greater calling than to serve others in their time of greatest need, added Mike Hubbel, professor of insurance and risk management at Olivet and director of the RMIC. The insurance profession offers our graduates high quality, rewarding careers and the opportunity to make a difference in their communities.

Almost 9 percent of Olivet Colleges student body studies under the RMIC. The center was ranked the eighth largest undergraduate program of its kind in the United States by Business Insurance magazine in April, and is frequently recognized by national insurance publications. In addition, the Alpha Alpha Chapter of Gamma Iota Sigma, the colleges professional risk management, insurance and actuarial science society, is often ranked one of the top three chapters in the United States and Canada. Because of the level of experience RMIC students receive through classroom activities, internships and membership in Gamma Iota Sigma, nearly 100 percent of them are employed before graduation. For more information, visit http://web.olivetcollege.edu/insurance or e-mail rmi@olivetcollege.edu.


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