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Business Analysis in Insurance

This major will help you prepare for a rewarding career as a business analyst for an insurance organization. Insurance business analysts serve as the bridge between the information systems department and other departments in the company and are well versed in insurance industry standards, policies, trends and news.

For a complete description of courses and degree requirements, please reference our academic catalog.

Core Classes
BUS 201 Principles of Accounting I

This is the introductory course in accounting with an emphasis on financial reporting for external users of financial statements. The course includes an examination of the recording of business transactions and the measurement of business income, assets, liabilities and equities.

Fall and Spring Semesters. 3 semester hours.

BUS 202 Principles of Accounting II

This course is an introduction to management accounting and the use of decision-making tools needed by
managers in an organization. The course focuses on financial analysis, manufacturing cost flows, budgeting, and planning for long-term financing and investing activities.

Fall and Spring Semesters. 3 semester hours.
Prerequisites: C or higher in BUS 201.

BUS 300 Principles of Management

Management consists of an analysis of business activities designed to manage an organization to efficiently serve employees, customers and the community. Topics studied include planning, organizing, leading and controlling; the business environment, business institutions, government regulations, organizational structure, human resources and human behavior within the framework of the needs of a diverse world.

Fall and Spring Semesters. 3 semester hours.
Prerequisites: sophomore standing.

CS 130 Principles of Computing

Students will learn to identify problems that programs can solve and how to design programs that solve problems. Program design involves a series of smaller skills, including information design, logic design, testing, and documentation. Improved skills in these areas should help with general problem solving even outside the programming paradigm.

Fall Semester. 4 semester hours.
Prerequisites: MTH 109 or concurrent.

CS 140 Computer Science I

Introduction to algorithm development and structured programming using the C++ programming language. I/O, arithmetic and logic operations, selection and looping structures, subprograms, parameter passing techniques, strings, and one and two dimensional arrays.

Spring Semester. 4 semester hours.
Prerequisites: C or higher in MTH 150.

CS 240 Computer Science II

Continuation of CS 140. Recursion, elementary searching and sorting techniques and intermediate data structures such as records, arrays of records, stacks, queues, linked lists and introduction to binary trees.

Fall Semester. 4 semester hours.
Prerequisites: C or higher in CS 140.

CS 270 Software Engineering

Introduction to software engineering as a discipline with an emphasis on design patterns. The course will cover the stages of the software life cycle, requirements analysis, structured and object-oriented analysis and design methods. It also discusses verification/validation, quality assurance, testing methods, maintenance, documentation, project management and team structure.

Spring Semester, odd years. 3 semester hours.
Prerequisites: C or higher in CS 240.

CS 350 Database Programming

Database design principles, relational data models, query languages and optimizations, transaction processing, recovery techniques. Object-oriented databases, distributed databases. Storage and access methods including indexing, hashing and range accesses.

Fall Semester, even years. 3 semester hours.
Prerequisites: C or higher in CS 240.

IDS 390 Internship (Cooperative Education)

An optional academic experience integrating classroom theory with practical work experience. Participating students are employed off-campus with businesses/organizations related to their career choice, or in an on-campus experience while completing their undergraduate course work. Students must register and pay for internship credits in the same semester as they are working. Credits cannot be deferred to a later semester.

  • Fall and Spring Semesters, Intensive Learning Term and Summer.
  • 1–15 semester hours.
  • Prerequisites: completed 30 semester hours with a 2.25 or higher cumulative GPA.
  • Students must arrange this experience with the appropriate department chairperson before registering for this course.
  • A Cooperative Education Work Experience Application must be completed prior to beginning work.
IRM 221 Principles of Insurance and Risk Management

An introduction to the concept of risk, the process of risk management, and the field of insurance, including fundamental doctrines, historical background, social value, economic influence, loss exposures and protection, insurance regulation, insurance carriers, reinsurance, marketing, underwriting and claims adjusting. This course includes examination of the Michigan Essential Insurance Act and how this law addresses the social responsibility of the insurance business and its attempt to address social injustice. This course will also help students prepare for the INS 21 national examination administered by the Insurance Institute of America.

Fall and Spring Semesters. 3 semester hours.
Prerequisites: BUS 212 recommended.

IRM 322 Personal Insurance

Designed to cover policy provisions and concepts common to various personal multiple-line property, casualty, life and health contracts. This course will also help students prepare for the INS 22 national examination administered by the Insurance Institute of America.

Fall Semester. 3 semester hours.
Prerequisites: IRM 221, cumulative GPA 3.0; BUS 212 recommended.

IRM 323 Commercial Insurance

Designed to cover policy provisions, and concepts common to various commercial multiple-line property and casualty contracts. This course will also help students prepare for the INS 23 national examination administered by the Insurance Institute of America.

Spring Semester. 3 semester hours.
Prerequisites: IRM 221, cumulative GPA 3.0; BUS 212 recommended.

IRM 350 Negotiations and Persuasive Presentations

An examination of negotiating techniques, construction of a persuasive argument, assembly of information to support positions and proposals, use of spreadsheets and presentation software to create professional documents and presentations to support positions and proposals, such as the development of a new product or the sale of new insurance coverage to a risk manager or new exposure to an insurance/reinsurance underwriter.

Fall Semester. 3 semester hours.
Prerequisites: IRM 323, cumulative GPA 3.0.

IRM 480 Project Management for Property and Casualty Insurance

This project management course examines project management in theory and practice and the roles and responsibilities of the project manager. The course offers a practical approach to managing projects, focusing on organizing, planning, and controlling the efforts of the project. Case studies, active participation in team exercises, and practical information reinforce learning. At the end of the course, students will understand why project management requires a high degree of professionalism, reasoning and critical thinking, oral and written communication skills, and how to manage successful future projects.

NOTE: Students are expected to integrate information from prior insurance, risk management, accounting, finance, mathematics, and computer science courses in order to successfully complete the class project.

Spring Semester. 3 semester hours.
Prerequisites: IRM 221, IRM 322, IRM 323, and MTH 232; cumulative GPA 3.0.

IRM 490 Strategic Management of Insurance Enterprise

This course examines the strategic management of an insurance company with a focus on financial management, U.S. regulation, and an overview of operations in a global marketplace – including consideration of differences in culture, language, regulations, laws and political risks. The core operations of marketing, underwriting, reinsurance, ratemaking and claims adjusting are studied. This course will incorporate the use of an insurance company financial management simulation “game” exercise. This course will also help students prepare for the CPCU 520 national examination administered by the American Institute for Chartered Property Casualty Underwriters.

Spring Semester. 3 semester hours.
Prerequisites: IRM 221, MTH 232, and cumulative GPA 3.0; IRM 322 and 323 recommended.
Satisfies Senior Experience requirement.

MTH 109 College Algebra (or placement evaluation)

Linear and quadratic equations, operations and equations involving polynomials, rational expressions, radicals, graphing equations, systems of equations and exponentials and logarithms.

NOTE: This course does not satisfy the Mathematics Proficiency requirement; intended for students who need additional algebra in preparation for more advanced mathematics, science, or statistical courses.

Fall and Spring Semesters. 4 semester hours.

MTH 150 Pre-Calculus (or placement evaluation)

Theory and application of trigonometric functions and their graphs, trigonometric identities and equations, inverse trigonometric functions. Polynominal, rational, exponential and logarithmic functions with an introduction to limits.

Fall and Spring Semesters. 4 semester hours.
Satisfies Mathematics Proficiency requirement with a grade of C or higher.
Serves as prerequisite for many mathematics and science courses.
Prerequisites: MTH 109 with a grade of C or higher or placement evaluation, or completion of two years of high school algebra.

MTH 232 Statistics

Statistics and probability. Including measures of central tendency and dispersion, normal and binomial probability distributions, hypothesis testing, confidence intervals, correlation, regression and nonparametric tests. Statistical software introduction.

Fall and Spring Semesters. 4 semester hours.
Satisfies Mathematics Proficiency requirement with a grade of C or higher.
Prerequisites: MTH 109 or completion of two years of high school algebra.

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