MBA in Insurance: Scope, Syllabus, Distance Education

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MBA in Insurance

MBA in Insurance is an ideal course for individuals with technical, leadership, analytical, communication, and interpersonal skills. It is a postgraduate-level program that imparts knowledge about banking and insurance. This course also includes the study of liability, assets, and risk management in the insurance and banking sectors. After completing this MBA, graduates can either opt for a PhD in risk management or gain employment in the finance sector. Interested students can pursue this course in India and abroad. This course is available as full-time, part-time, and distance learning programs.

This blog includes the list of top colleges and universities abroad and in India that offer Master of Business Administration in Insurance courses. Keep reading to know more!!

Why Study MBA in Insurance?

MBA Insurance equips students with conceptual knowledge and practical skills to solve conflicts, take care of insurance and banking-related problems, and manage risks. Graduates of this course acquire the ability to deal with corporate risks and establish interpersonal relationships with co-workers, the leadership of the enterprise, and clients. Additionally, this MBA program prepares students to negotiate with clients and oversee the operations of an insurance company. Graduation from this postgraduate course will expose students to a wide range of lucrative career opportunities. Furthermore, the managerial skills acquired during the program enable graduates to create a larger business network. 

MBA in Insurance Abroad

Top Colleges/Universities

The following universities offer Master of Business Administration in Insurance:

Universities Course Course Tenure Fees
University of Hartford, USA Master of Business Administration in Risk Management and Insurance 2 years $29,304 (INR 23.95 Lakh)
California State University, Fullerton, USA MBA in Risk Management and Insurance 2 years $38,328 (INR 31.33)
University of Wisconsin, Madison, USA MBA – Risk Management and Insurance 2 years $102,724 (INR 83.97)
Leipzig University, Germany MBA in Insurance Management 2 years INR 10.70 Lakh
University of Georgia, USA MBA Insurance 2 years
HS Coburg, Germany MBA Insurance Management (Part-time) 18 months
FH Koblenz MBA 30 months  €9,600 (INR 8.36)

Also Read: Best MBA Colleges in Germany

Eligibility Criteria

Candidates who meet the below-mentioned eligibility criteria can apply for MBA in Insurance:

  • Students must have completed 10+2 from a recognized school/college. Applicants must have studied Mathematics in Class 12.
  • Applicants must have at least 1 bachelor’s degree in any discipline from an accredited university.
  • Candidates must have work experience.
  • Applicants must have a valid passport

Application Process

Applying to foreign universities and colleges is a long and intimidating process. Reduce your burden by reaching out to study abroad experts at Leverage Edu. Our experts will help you in the following steps:

Required Documents

Candidates are required to submit these documents to complete the application process in any of the above-mentioned foreign universities:

Also Read: MBA IB

MBA in Insurance in India

S. No Colleges/Universities Fees Locations
1 Alliance University INR 9 lakh Bangalore, Karnataka
2 NIMS University INR 60 k Jaipur, Rajasthan
3 Amity Global Business School INR 3.65 lakh Noida, Uttar Pradesh
4 Jamia Milia Islamia University INR 16,150 New Delhi
5 Jamia Hamdard University INR 2.45 lakh New Delhi
6 Lovely Professional University INR 3.04 lakh Jalandhar, Punjab
7 Chandigarh University INR 1.80 lakh Chandigarh
8 Prestige Institute of Management and Research INR 1.20 lakh Indore, Madhya Pradesh
9 JSS Academy of Higher Education and Research INR 1.79 lakh Mysore, Tamil Nadu
10 Pondicherry University INR 74,735 Puducherry


MBA in Insurance syllabus differs in each university/college. However, the core areas of study remain the same. Given below are the common domains of study in this course:

Also Read: Best No GMAT MBA Programs 2023

Career Scope

Numerous jobs are available for MBA Insurance graduates in banks, insurance companies, and finance companies. The table given below enlists some of the job titles, their average annual salary range, and their job description.

Job Titles Average Annual Salary Range Job Description
Risk Manager INR 3 lakh to INR 25.2 lakh To identify the loss, analyze the damage caused, and suggest preventive measures. Draft risk policies of an organization and communicate the policies.
Business Analyst INR 2.6 lakh to INR 15.5 lakh To help business entities in improving existing systems and procedures and implement new ones that align with the goal of the organization.
Fund Manager INR 2.5 lakh to INR 93 lakh To implement investment strategies and manage the investment portfolio.
Internal Auditor INR 1.5 lakh to INR 11.9 lakh To ensure the effective operation of internal control measures and successful implementation of risk management policies and procedures. 
Financial Manager INR 3.2 lakh to INR 30 lakh To prepare and publish financial reports, guide investment procedures, and develop strategies to ensure long-term financial benefits. 


Q.1. Which MBA specialization is best for insurance?

Ans: MBA Insurance, MBA Risk Management and Insurance, MBA Insurance Management, and MBA Banking and Insurance are the best courses.

Q.2. What is the salary of MBA Insurance?

Ans: Graduates of this program can earn INR 3.2 lakh to INR 30 lakh as a Financial Manager, INR 2.5 lakh to INR 93 lakh as a Fund Manager, INR 3 lakh to INR 25.2 lakh as a Risk Manager, and INR 1.5 lakh to INR 11.9 lakh as an internal auditor.

Q.3. Is there MBA in insurance?

Ans: Master of Business Administration in Insurance is a postgraduate course designed for people with an interest in banking and insurance. The program imparts knowledge about banking and insurance. This course also includes the study of liability, assets, and risk management in the insurance and banking sectors

Discover more study abroad courses with Leverage Edu. Get proper guidance about course selection and application process at 1800 572 000.

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