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Risk and Insurance Program Receives Industry Designation as Global Center of Insurance Excellence

By Wisconsin School of Business

July 25, 2017

International Insurance Society recognizes UW-Madison program for top faculty, excellent curriculum, and strong research that is generating new talent in the industry  

The Risk and Insurance department at the Wisconsin School of Business at the University of Wisconsin–Madison has become one of 12 programs in the country and just 20 worldwide to be designated as a Global Center of Insurance Excellence (GCIE) by the International Insurance Society (IIS).

The designation is being awarded for the first time to universities and colleges that meet stringent criteria focused on course offerings, faculty expertise, research excellence, graduate and industry employment rates, and professional involvement.

“The GCIE designation serves as a testament of distinction that will enhance the universities’ standings in the highly competitive advanced education arena, while also serving to enrich relationships with the insurance industry where talent demands are surging,” says Mike Morrissey, IIS President and CEO. “The GCIE program is designed to support the advancement of our industry’s education programs and will provide a tool for the industry to identify those institutions that generate new talent.”

“This is an affirmation of the exceptional work being done here at the Wisconsin School of Business,” says Joan Schmit, professor and department chair of Risk and Insurance. “It’s not just about the experience and commitment of our faculty members, which are truly significant, but it’s also about how we design our programs to prepare students academically and professionally. The risk and insurance industry is constantly changing—our teaching objectives and learning outcomes reflect that and allow us to do everything possible to position our students as inspiring future leaders in the industry.”

The Risk and Insurance department is a leading academic program and supports several degree programs at the Wisconsin School of Business:

  • Risk Management & Insurance specialization in the Wisconsin MBA program
  • Risk management courses in the Wisconsin Evening MBA and Wisconsin Executive MBA programs
  • Two undergraduate majors, Actuarial Science and Risk Management & Insurance, for the Wisconsin BBA (Bachelor of Business Administration) program
  • Two doctoral areas of study, Actuarial Science and Risk Management & Insurance, for the Wisconsin Ph.D. program
  • Capstone certificate in Actuarial Science

Launched in 1938, the Department of Risk and Insurance at the Wisconsin School of Business is the second oldest program in the country. With an industry alumni network over 3,500 strong, students benefit from the active involvement of industry experts who serve as mentors, support applied learning projects, and provide expert insight on current trends and events.