Bridging Theory and Practice in Risk and Insurance Studies

Description

The gap between formal education and the needs of the insurance industry, and financial services more generally, has never been more disconcerting. The recent financial crisis is often quoted as a corollary of this gap, and theoreticians are blamed. But misuse of the theory in applications is just one horseman of the apocalypse. Another is the inability of formal academic curricula to keep up with the challenging pace of real-world changes. Hence, it is not uncommon for practitioners to rely on theoretical results without understanding the underlying assumptions and to seek solutions to problems with no support from fundamental education. To fill this gap, we will put forward a distinctive certificate in Modern Insurance and Risk Management that comprises an introductory course on the principles of insurance and risk management, online learning modules, an industry-driven and research-infused professional internship, and mandatory networking sessions. The proposed interdisciplinary, international, and inter-Faculty certificate, offered through the Risk and Insurance Studies Centre, will provide a novel opportunity for human capital development, contributing to pushing the boundaries of pedagogical innovation and better positioning the students to succeed in the labour market.