The School of Business, with the cooperation, support and guidance of leaders from various companies and organizations from within the general insurance industry in BC, is offering a Diploma of Technology program in General Insurance and Risk Management. The general insurance industry has selected BCIT as the preferred institution to offer such a program. The general insurance industry has recogni
zed that their greatest challenge for the future in British Columbia and across Canada is to find willing, capable, and properly-educated people with the desire to manage BC's $6 billion property and casualty business, which is approximately 10% of Canada's $66 billion industry total. It is forecast that two-thirds of the available insurance jobs in the next six years will be due to attrition, while one-third will be due to sector growth. The general insurance industry in BC wants to hire individuals who possess a formal business education background, with a concentration on industry-specific insurance topics. Traditional entry-level, clerical jobs where employees learn the business on the job are diminishing, due to new technology and methods. The projected need is for employees who are initially more qualified and able to progress more quickly
The General Insurance and Risk Management program builds on the existing first year of the Financial Management program with minor differences. Insurance is a natural fit with the Financial Management program since, along with banking and wealth management, insurance is the third pillar of the financial world; and is the largest segment of the financial industry as measured by revenue. The Program
In the first year, General Insurance and Risk Management students complete studies in core business subjects with an insurance-specific course and a project management course in level 2. The second year of the program includes twelve insurance and risk management courses in addition to four financial management courses. Seven of the Risk Management courses are based on courses offered by the Insurance Institute of Canada (IIC). Students will write five IIC exams during the BCIT program and may be granted advanced standing towards the Chartered Insurance Professional (CIP) designation. As BCIT strives to keep our programs current, programs and courses are subject to change without notice.
