Master of Science in Insurance Management

Program Overview

The Master of Science in Insurance Management at FHDW Hannover equips professionals and graduates with the skills to navigate the evolving insurance industry, driven by digitalization, regulation, and demographics. The 18-month program combines academic rigor with practical components, offering flexible in-person or online attendance. Graduates are well-positioned for leadership roles in the insurance sector and beyond, with international career opportunities and research advancement possibilities.

Program Outline

Degree Overview:

The Master of Science (M.Sc.) in Versicherungsmanagement (Insurance Management) at FHDW Hannover is designed to prepare students for the challenges and opportunities of a rapidly changing insurance industry. The program addresses the impact of digitalization, increased regulation, and demographic shifts on the insurance business. The objective is to equip students with the competencies needed to shape the transformation of the industry, identify and utilize the potential of digitalization in insurance, and develop a solid understanding of relevant regulations and demographic trends. The program is suitable for both working professionals seeking advancement and recent Bachelor's degree graduates aiming to enhance their skills. It promises excellent career prospects in a future-proof and diverse sector with strong salary potential. A key feature is the flexibility to attend lectures either in person at FHDW Hannover or remotely.

Outline:

The 18-month program (90 ECTS) consists of 15 months of lectures and integrated practical components, followed by a three-month Master's thesis. Lectures are organized quarterly, typically held on Fridays and one other weekday (depending on the chosen elective), and are offered both in-person and online. The curriculum is structured into three competency blocks:

• Management: This block covers topics such as corporate strategy in volatile times, change management and agile project methods, responsible corporate governance, business intelligence, personnel management, development, and incentive systems.
• Insurance: This block focuses on insurance supervision and market regulation, insurance economics, value-oriented and financial management of insurance companies, risk assessment and calculation of insurance products using actuarial methods, and current challenges for the strategic and operational management of insurance companies and InsurTechs.
• Elective Competency Block: Students choose one of four specialized areas:
• Controlling:
Operational and strategic controlling, group and sustainability controlling, value-oriented and process-oriented controlling.
• Finance and Risk: Strategic and operational risk management, financial modeling, financial risk management, innovations and trends in finance, and quantitative data analysis methods.
• Business Analytics: Digital corporate management, business intelligence, ethical considerations related to data, and creating new business models using data analysis.
• Sales and Marketing: Sales strategies and processes, sales planning and promotion, behavioral psychology, sales psychology, consumer behavior, product and brand management, and marketing and sales management.
The program includes self-study units, supported by tutorial sessions. Assessments involve various methods such as exams, projects/case studies, essays, and presentations. The final three months are dedicated to the Master's thesis.

Assessment:

Assessment methods include exams, projects/case study work, essays, and presentations.

Teaching:

The program combines academic and practical knowledge. Professors and lecturers emphasize operational and strategic expertise. The teaching approach is flexible, allowing students to choose between in-person and online participation in lectures. Smaller learning groups and direct communication with professors are highlighted as key features.

Careers:

Graduates are well-positioned for careers in the insurance industry, particularly in a competitive environment demanding efficiency and innovation. Potential roles include Insurance Manager, Consultant (in risk, operations, or customer service), and Product Management (developing new portfolio strategies and potentially leading teams). The program also prepares students for international opportunities, project management, process optimization, and the development of new business models. The Master's degree also opens the possibility of pursuing a (part-time) doctoral degree.

Other:

The program emphasizes flexibility, allowing students to choose between in-person and online participation in lectures spontaneously. The program's short duration of 18 months is highlighted as a benefit. The FHDW Hannover is described as a highly-rated university with a focus on personal interaction and support for students.