Semester-wise Syllabus for BBA in Risk and Insurance Management

Semester 1: Foundations of Business & Insurance

1. Principles of Management

   • Introduction to management functions (planning, organizing, controlling) in insurance firms.

2. Business Communication

   • Report writing, client interaction, and negotiation skills for insurance professionals.

3. Financial Accounting

   • Basics of accounting, balance sheets, and financial reporting for insurers.

4. Introduction to Insurance

   • Overview of life, health, property, and casualty insurance; key terminologies (premium, underwriting).

5. Principles of Risk Management

   • Risk identification, evaluation, and mitigation strategies.

6. Business Mathematics & Statistics

   • Probability, actuarial calculations, and statistical tools for risk assessment.

7. Computer Applications in Insurance

   • Insurance software (e.g., Guidewire), data analysis tools, and CRM systems.

Semester 2: Insurance Products & Regulations

1. Organizational Behavior

   • Team dynamics and leadership in insurance companies.

2. Insurance Economics

   • Demand-supply in insurance markets, pricing models, and reinsurance.

3. Life Insurance & Annuities

   • Policy types (term, whole life), premium calculation, and retirement planning.

4. General Insurance (Non-Life)

   • Health, motor, fire, and marine insurance; claim settlement processes.

5. Legal Aspects of Insurance

   • IRDAI regulations, Insurance Act 1938, and consumer protection laws.

6. Customer Relationship Management (CRM)

   • Client retention strategies and handling grievances.

Semester 3: Risk Assessment & Underwriting

1. Risk Modeling & Analysis

   • Quantitative risk assessment (VaR, Monte Carlo simulations).

2. Underwriting Principles

   • Risk evaluation, policy issuance, and underwriting guidelines.

3. Health Insurance & Pension Plans

   • Mediclaim policies, critical illness covers, and NPS.

4. Corporate Risk Management

   • Enterprise Risk Management (ERM), business continuity planning.

5. Insurance Marketing

   • Digital marketing for insurers, agent networks, and brand building.

6. Research Methodology

   • Data collection for risk trends and insurance product development.

Semester 4: Actuarial Science & Claims

1. Actuarial Mathematics

   • Premium pricing, reserving, and mortality tables.

2. Claims Management

   • Fraud detection, claim investigation, and settlement processes.

3. Reinsurance & Catastrophe Risk

   • Role of reinsurers, natural disaster risk pooling.

4. Investment Management for Insurers

   • Portfolio management, Solvency II norms.

5. Microinsurance & Social Security

   • Insurance for low-income groups (PMJJBY, PMSBY).

6. Internship (4–6 weeks)

   • Training with insurers, brokers, or risk consultancies.

Semester 5: Advanced Risk Strategies

1. Financial Risk Management

   • Credit risk, market risk, and derivatives in insurance.

2. Cyber Risk & Insurance

   • Cyber liability policies and data breach response.

3. International Insurance Markets

   • Lloyd’s of London, global regulatory frameworks (Solvency II, Basel III).

4. Electives (Choose 1–2):

   • Agricultural Insurance

   • Marine & Aviation Insurance

   • Behavioral Economics in Insurance

5. Insurance Fraud & Forensic Analysis

   • Fraud detection techniques and legal recourse.

Semester 6: Capstone & Industry Readiness

1. Strategic Insurance Management

   • Case studies on mergers, insurtech startups (e.g., Policybazaar).

2. Dissertation / Live Project

   • Research on emerging risks (climate change, pandemics) or Insurtech trends.

3. Comprehensive Viva & Workshops

   • Mock underwriting exercises, IRDAI compliance scenarios.