Insurance is a field that focuses on studying how to protect individuals and companies from financial risks by transferring these risks to insurance companies. This major aims to provide students with the knowledge and skills necessary to understand the basics of insurance, risk analysis, and design and management of various insurance products. Here’s a comprehensive look at the key aspects of the insurance specialty:

Insurance basics:

• Understand the basic concepts of insurance such as risk, premium, compensation, and interest.
• Study different types of insurance such as life insurance, health insurance, property insurance, and liability insurance.

Risk analysis and management:

• Learn how to analyze and evaluate the risks that individuals and companies may face.
• Use risk management techniques to reduce potential losses and improve financial security.

Different types of insurance:

• Life and Health Insurance: Study of policies related to life and health insurance, their benefits and costs.
• Property Insurance: Understand how to protect personal and business property from losses resulting from accidents or disasters.
• Liability Insurance: The study of how individuals and companies are protected from legal claims and financial liabilities.

Insurance laws and regulations:

• Study the laws and regulations that regulate the insurance industry.
• Understand the rights and duties of insurance companies and policyholders.

Insurance company management:

• Understand how insurance companies are operated and managed.
• Study policies and procedures related to issuing documents, processing claims, and managing investments.

Marketing and sales in insurance:

• Develop strategies for marketing and selling insurance products.
• Understanding consumer behavior and needs and developing products that suit these needs.

Actuarial analysis:

• Using mathematical and statistical methods to evaluate risks and determine appropriate prices for insurance policies.
• Understand the role of actuaries in insurance companies and risk management.

Technology in insurance:

• Study the impact of technology on the insurance industry.
• Using technologies such as artificial intelligence and data analysis to improve insurance operations and provide better services to customers.

Claims management:

• Understand how to evaluate and process insurance claims.
• Develop strategies to efficiently manage claims and ensure customer satisfaction.

Insurance and reinsurance:

• Understanding the role of reinsurance in distributing and transferring risks between insurance companies.
• Study the different types of reinsurance and how to use them to improve the financial stability of insurance companies.

Finance and investment in insurance:

• Study how insurance companies manage funds and investments.
• Understand how to balance revenue from premiums, claims paid and company investments.

Business ethics in insurance:

• Understand the ethical issues related to insurance.
• Developing policies to enhance integrity and transparency in dealing with clients.

International insurance:

• Study how to provide insurance services on a global level.
• Understand the cultural, economic and legal differences in international insurance markets.

Innovation in insurance:

• Developing new insurance products that meet changing market needs.
• Study innovations such as emergency insurance, term insurance, and natural disaster insurance.

Practical training and applied projects:

• Obtain practical experience through training in insurance companies and financial institutions.
• Apply theoretical knowledge in real business environments to develop practical and effective solutions.

The Insurance major provides broad job opportunities in multiple fields such as insurance companies, banks, consulting companies, and government agencies. This major contributes to providing students with the necessary skills to analyze risks, design innovative insurance products, and manage insurance operations efficiently to achieve financial stability for clients and companies.