Analysis and Management of Insurance Risk



Analysis and Management of Insurance Risk is the identification, assessment and prioritization of risks that is followed by coordination and economic application of resources to minimize risk and monitor the probability and impact of unfortunate events, or to maximize the realization of opportunity. The objective of risk management is to assure uncertainty does not deflect the endeavor from the business goals. The concentration helps students become well-rounded business assessors of risk, ready to utilize their knowledge of mathematics, statistics, economics, marketing, business, finance and accounting in an insurance career.


  • Students must complete a minimum of 18 credit hours which includes 12 upper division hours for this concentration.
  • All courses must be completed with a grade of “C” (2.00) or higher.
  • Students must hold a minimum GPA of 2.50 to pursue this concentration.
  • Students must have completed the following prerequisite courses at ASU or an equivalent institution with a grade of "C" or better:
    CIS 105 Computer Applications and Information Technology (3) or equivalent
    ECN 211 Macroeconomic Principles (3) OR ECN 212 Microeconomic Principles (3)
    MAT 210 Brief Calculus (3)

Required Core - 3 credit hours

ACT 301 Risk Management and Insurance (3) (Prerequisite(s): MAT 210, 265, or 270 with C or better; ECN 211 or 212; ECN 221, STP 226, or STP 420)

Electives - 12 credit hours
Choose four courses from the following:

ACT 201 Introduction to Elements and Techniques of Actuarial Science (3) (Prerequisite(s): CIS 105 with B or better; MAT 270 with B or better)

ACT 302 Fundamentals of Enterprise Risk Management (3) (Prerequisite(s): ACT 301)

ACT 320 Property and Casualty Insurance (3) (Prerequisite(s): ACT 301)

ACT 330 Life and Health Insurance (3) (Prerequisite(s): ACT 301)

ACT 370 R and Excel for Actuaries (3) (Prerequisite(s): MAT 342 or 343 with B or better; STP 226, 231, or 420 with B or better; Credit is allowed for only ACT 370 or ACT 394 (R in Excel for Business))

ACT 484 Internship (3)

Elective - 3 hours
Choose one course

STP 226 Elements of Statistics (3) (Prerequisite(s): MAT 117 or MAT 142 or other course meeting General Studies MA requirement with C or better, or Mathematics Placement Test with a score of 50% or higher, or ALEKS score of 61 or higher)

STP 420 Introductory Applied Statistics, CS (3) (Prerequisite(s): MAT 210, 251, 265, or 270 with C or better)

Any ACT 300 or 400 level course






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