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Master of Business Administration - Insurance Specialization

Claim senior-level positions with your MBA in Insurance

The impending retirement of top-level, baby boomer, insurance industry execs makes now the perfect time for motivated professionals to actively pursue advancement opportunities. If you have or are pursing your Chartered Property Casualty Underwriter (CPCU) designation and want to add an MBA to your credentials, Franklin’s MBA with Insurance Specialization is the fastest, most-affordable path to promotion. You’ll build your business acumen with an employer-respected MBA program that you can customize to align with your career aspirations within the insurance industry. Best of all, since Franklin’s programs are built to fit the lives of busy professionals, you won’t struggle to add earning a degree to your existing life commitments. 

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Request free program information or submit your online application.

Finish in 9 Months

Earn your degree and prepare for advancement faster.

Fast-Track Your MBA

Leverage your CPCU designation for up to one-third of the required MBA credits.

Customizable Curriculum

Align your MBA to your insurance career goals.

No GMAT or GRE

Bypass expensive, time-consuming tests with a 2.75+ GPA.

Learn from the Best

Benefit from the experience of your instructors – seasoned, in-field practitioners.

MBA with Insurance Specialization Degree Overview

Accelerate your career growth by building on your CPCU designation

Over the next decade many industries are bracing themselves for the impact of retiring baby boomers. Within the insurance industry, that brain drain will manifest itself in the form of 100,000 vacant upper management and technical positions nationally. While stable growth within the industry makes it a good career choice for new comers, there has never been better time for current in-field practitioners to pursue opportunities for advancement. In states, like Ohio, which is home to nearly 250 insurance companies and is the nation’s 7th-largest employer of insurance professionals, more than 7,500 new/back-filled positions will be in-play. 

If you earned your CPCU with the 1-10 series of exams, you can earn your MBA in 9 months by taking six graduate-level courses. You’ll transfer in 12 credits, which is one-third of the total credits required and the maximum allowed at the graduate level. Then, you’ll build on the graduate-level insurance knowledge you obtained through the CPCU with MBA courses in areas such as economics, operations, marketing and finance. 

If you earned your CPCU under the current 500 series of exams, you many need to take more than six courses – depending on how many graduate credit hours you are able to transfer in. You can rely on the support of your graduate admissions advisor to walk you through the process of transferring prior learning credit toward your degree. Please note, to qualify for the MBA with Insurance Specialization, you must be able to transfer in at least 6 graduate credit hours from your CPCU courses. 

Tailor your MBA experience to your ultimate career aspiration  

The MBA with Insurance Specialization is designed to prepare insurance industry professionals for advanced roles within the industry. Therefore, as a student in the program, you can expect to supplement your already-robust insurance knowledge with a graduate-level understanding of the functional areas of business. To best accomplish this, all students seeking the MBA with Insurance Specialization must complete Business Environment (MBA 711) and Managerial Economics (MBA 723). 

After completing these two initial courses, the number of additional courses necessary to fulfill the degree requirements will depend on how many credits you transfer from your CPCU. You’ll choose 3-5 additional MBA courses from the following areas – marketing, operations, human resources, corporate finance, and financial and managerial accounting. 

Your MBA coursework culminates with a research-based capstone course on a topic of your choice that aligns with your area of interest. To successfully complete the degree, you’ll write a significant research piece that demonstrates your ability to integrate your insurance expertise with your newly acquired business insight.

Reduce the time and cost of a master’s degree  

Because Franklin was built from the ground up to meet the needs of adult students, we honor the experience you bring to the university. We reward your CPCU designation with up to 12 hours of graduate-level credit, which accounts for three courses. At Franklin, you won’t sit in – or pay for – courses you don’t need. 

As a Franklin student, you’ll spend your time acquiring new knowledge that helps you accomplish the goals you’ve set for yourself. You can also get started right away with a GPA of 2.75 or above, because we’ll waive the GMAT, which saves you additional time and expense.

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MBA-Insurance Courses & Curriculum

6-11 Graduate Credits from CPCU Designation

MGMT 707 course waived as pre-requisite 

Required
MGMT 711 - Business Environment (4)
This course systematically explores the external environment in which businesses operate - legal and regulatory, macroeconomic, cultural, political, technological, and natural. Additionally, the course will examine the critical opportunities and threats that arise from an analysis of external business conditions. Students will apply scenario planning to a selected industry and synthesize trends in the external environment in the presence of risk and uncertainty.
ECON 723 - Managerial Economics (4)
This course surveys the fundamental concepts and methods of economic analysis for managers. Real-world decision making is emphasized. Application of key economic concepts such as market demand, market supply, market equilibrium, marginal analysis, production, costs, revenue, profit, and market structure constitute the core material of the course.
GRAD 790 - Project Capstone (4)
This Capstone provides students an opportunity to conduct independent research projects, or examinations of specific areas of interest, under the guidance of an instructor. It permits students to conduct the types of research and/or information-gathering projects that are a significant part of the organizational life of business managers and leaders. Students submit and discuss topic proposals for relevant business challenges/opportunities with a Lead Faculty/Program Chair. Upon completion, students deliver both a formal report and accompanying presentation including actionable solutions supported by quantitative and qualitative analyses.
Select Three
MKTG 721 - Marketing Management (4)
In today's business world, success can often be attributed more to the genius of a company's marketing efforts than to the genius of its products or services. A clear understanding of the importance of marketing, as well as a grasp of effective marketing practices, is essential for anyone who wishes to achieve a position of leadership. You will gain a working knowledge of both marketing theory and the practical application of innovative marketing strategies. You will come to understand how product, price, place, and promotion contribute to the marketing mix as you explore research-based insights into consumer behavior. As your final course assignment, you will prepare and present a marketing plan of your own.
OSCM 731 - Operations Management (4)
In today's business environment, the success of organizations depends on the effective and efficient management of operations. Methods to select, plan, and improve organizational processes will be examined. The application of optimal capacity decisions in supply chains, development production, and inventory plans and schedules will be performed. The student will learn quality management and improvement process to increase the efficiency of a process.
HRM 713 - Human Resource Management (4)
Organizations are composed of groups of people who work together to achieve defined outcomes. Experience has proven time and again that the key factor which differentiates successful companies from those who struggle to survive is people who make up the employee base. While the human resources function is given the specific task of planning for and resolving many employee-related issues and needs, individual managers have direct responsibility and accountability for motivating and leading employees to achieve sustained organizational success. The purpose of this course is to provide students with the knowledge and skills needed to work effectively with human resources to enhance the contributions of all employees to organizational effectiveness. Students will learn about the elements which drive business success, theories of motivation, and methods for creating a plan for maximizing the human capital of an organization.
FINA 737 - Corporate Finance (4)
Financial decisions made at the higher levels of a business organization can have far-reaching effects. Intended to achieve firm operating goals and create shareholder value, they must be made judiciously, with a thorough understanding of all the factors involved. In this course, you will learn to apply the analytical techniques required for developing effective and workable financial solutions at the executive level. You will gain an overall understanding of the workings of the U.S. financial system. In addition, you will study the concepts of financial risk, return, and the valuation of bonds, common and preferred stock, cost of capital, capital budgeting, capital structure, and the evaluation of investment opportunities.
ACCT 729 - Financial & Managerial Accounting (4)
Effective leadership in today's complex and highly regulated business environment demands more than a working knowledge of basic accounting practices. Managers must fully grasp sophisticated financial and managerial accounting concepts and be able to apply them with ease in handling day-to-day responsibilities. Managers must also be well versed in the intricacies of corporate governance and asset protection. In this course, students will develop a clear understanding of these critical functions and issues. Students will study the foundational aspects of financial accounting, including professional structure, the interrelationships of financial statements, and multiple forms of financial analysis. Additionally, the functional aspects of managerial accounting will be covered, including planning, decision making, and performance evaluation.
12+ Graduate Credits from CPCU Designation

MGMT 707 course waived as pre-requisite 

Required
MGMT 711 - Business Environment (4)
This course systematically explores the external environment in which businesses operate - legal and regulatory, macroeconomic, cultural, political, technological, and natural. Additionally, the course will examine the critical opportunities and threats that arise from an analysis of external business conditions. Students will apply scenario planning to a selected industry and synthesize trends in the external environment in the presence of risk and uncertainty.
ECON 723 - Managerial Economics (4)
This course surveys the fundamental concepts and methods of economic analysis for managers. Real-world decision making is emphasized. Application of key economic concepts such as market demand, market supply, market equilibrium, marginal analysis, production, costs, revenue, profit, and market structure constitute the core material of the course.
GRAD 790 - Project Capstone (4)
This Capstone provides students an opportunity to conduct independent research projects, or examinations of specific areas of interest, under the guidance of an instructor. It permits students to conduct the types of research and/or information-gathering projects that are a significant part of the organizational life of business managers and leaders. Students submit and discuss topic proposals for relevant business challenges/opportunities with a Lead Faculty/Program Chair. Upon completion, students deliver both a formal report and accompanying presentation including actionable solutions supported by quantitative and qualitative analyses.
Select Three
MKTG 721 - Marketing Management (4)
In today's business world, success can often be attributed more to the genius of a company's marketing efforts than to the genius of its products or services. A clear understanding of the importance of marketing, as well as a grasp of effective marketing practices, is essential for anyone who wishes to achieve a position of leadership. You will gain a working knowledge of both marketing theory and the practical application of innovative marketing strategies. You will come to understand how product, price, place, and promotion contribute to the marketing mix as you explore research-based insights into consumer behavior. As your final course assignment, you will prepare and present a marketing plan of your own.
OSCM 731 - Operations Management (4)
In today's business environment, the success of organizations depends on the effective and efficient management of operations. Methods to select, plan, and improve organizational processes will be examined. The application of optimal capacity decisions in supply chains, development production, and inventory plans and schedules will be performed. The student will learn quality management and improvement process to increase the efficiency of a process.
HRM 713 - Human Resource Management (4)
Organizations are composed of groups of people who work together to achieve defined outcomes. Experience has proven time and again that the key factor which differentiates successful companies from those who struggle to survive is people who make up the employee base. While the human resources function is given the specific task of planning for and resolving many employee-related issues and needs, individual managers have direct responsibility and accountability for motivating and leading employees to achieve sustained organizational success. The purpose of this course is to provide students with the knowledge and skills needed to work effectively with human resources to enhance the contributions of all employees to organizational effectiveness. Students will learn about the elements which drive business success, theories of motivation, and methods for creating a plan for maximizing the human capital of an organization.
FINA 737 - Corporate Finance (4)
Financial decisions made at the higher levels of a business organization can have far-reaching effects. Intended to achieve firm operating goals and create shareholder value, they must be made judiciously, with a thorough understanding of all the factors involved. In this course, you will learn to apply the analytical techniques required for developing effective and workable financial solutions at the executive level. You will gain an overall understanding of the workings of the U.S. financial system. In addition, you will study the concepts of financial risk, return, and the valuation of bonds, common and preferred stock, cost of capital, capital budgeting, capital structure, and the evaluation of investment opportunities.
ACCT 729 - Financial & Managerial Accounting (4)
Effective leadership in today's complex and highly regulated business environment demands more than a working knowledge of basic accounting practices. Managers must fully grasp sophisticated financial and managerial accounting concepts and be able to apply them with ease in handling day-to-day responsibilities. Managers must also be well versed in the intricacies of corporate governance and asset protection. In this course, students will develop a clear understanding of these critical functions and issues. Students will study the foundational aspects of financial accounting, including professional structure, the interrelationships of financial statements, and multiple forms of financial analysis. Additionally, the functional aspects of managerial accounting will be covered, including planning, decision making, and performance evaluation.

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MBA-Insurance Program Requirements & Outcomes

Career Opportunities

Claims Director

Claims directors supervise claims departments to ensure that operational, financial and service requirements are met. 

Corporate Underwriting Director

Corporate underwriting directors develop and maintain underwriting guidelines, authorities, documents and processes to effectively support compliance initiatives and activities.

Senior Product Analyst

Senior product analysts support the product management team by gathering and analyzing information that provides insight related to revenue growth and profitability for specific lines of business.

Senior Territory Manager

Senior territory managers monitor and research market conditions to win new accounts and make strategic territory and account decisions in order to meet financial goals and objectives.

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MBA Insurance Employment Outlook

11%

From 2017-2027 jobs in Business Administration are expected to increase by 11%

All Occupations

2017
5,522,285 jobs
2027
6,143,408 jobs


Source information provided by Economic Modeling Specialists International (EMSI).

MBA-Insurance Specialization Knowledge and Skillsets

Gain in-demand skills sought by employers with curriculum that teaches you:

Frequently Asked Questions

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