Online Master of Science in Insurance Management
The Master of Science in Insurance Management is designed specifically for professionals who have earned designation as a Chartered Property Casualty Underwriter (CPCU).
The MS in Insurance Management is ideal for professionals who hold positions such as underwriter, senior underwriter, underwriting manager, underwriting quality review auditor, product specialist, operations specialist, claims adjuster, claims specialist or manager, account executive, and other members of the insurance ecosystem (such as insurance risk managers, consultants, business developers, relationship managers, management analysts, and insurance data analysts) who wish to gain a broad graduate-level education in management that complements their expertise. The Insurance Management curriculum provides an opportunity for professionals to complement their demonstrated expertise in insurance issues with a mastery of general management principles in accounting, finance, operations, and leadership.
As detailed in “The Insurance 2023 Vision,” a white paper by NTT DATA, traditional insurance industry business models are facing challenges on several fronts, from climate change to emerging technologies, economic volatility, and global health crises. According to the report, “Amidst these uncertainties, there are opportunities for insurers to thrive by embracing key actions. These include accelerating IT transformation, orchestrating the insurance ecosystem, exploring new products, addressing environmental and social considerations, and mitigating digital risks. By adopting these strategies, insurers can leverage data, enhance customer experiences, promote sustainability, and bridge the cyber insurance protection gap.”
The MS in Insurance Management provides an opportunity to develop critical business skills that will help practitioners prepare of the evolving insurance landscape, including several concentrations that focus on areas of high industry demand:
- Applied Business Analytics
- Corporate Finance
- Project, Program & Portfolio Management
- Supply Chain Management
By completing just eight courses, holders of the CPCU credential will gain the advanced management knowledge required to handle high-level responsibilities and to achieve career advancement. With appropriate advanced planning, you can use program electives from your online Master of Science in Insurance Management to satisfy up to two required courses in an Administrative Sciences graduate certificate program—leaving only two additional courses to be completed in order to receive a graduate-level certificate.
Students who complete the master’s degree in Insurance Management will be able to demonstrate:
- Business knowledge and competence in incorporating insurance management decisions in developing a company’s business strategy.
- Knowledge on how to position insurance management to the critical differentiators facing the insurance industry in the years ahead, such as (i) digital transformation of the insurance processes that can be automated; (ii) balancing the data management with the privacy concern of the customers; (iii) developing and implementing flexible business models for personalization by offering policies and prices to suit the needs and lifestyle of the individual; (iv) risk avoidance and positive reinforcement of behavior shaping; (v) knowledge on how to build hyper-connected solid customer communities online and offline; (vi) knowledge on how to transform insurance offerings into integrated ecosystems to address customers’ lifestyle needs.
- Knowledge of crucial insurance management issues and tools needed for analyzing and defining the importance of insurance-related decisions and their implementation by the customers and the service providers.
In addition, those who complete the Insurance Management master’s concentration in Applied Business Analytics will be able to demonstrate:
- The knowledge and skills necessary to better utilize available information in operational, tactical, and strategic decision-making in organizations.
- Experience with various powerful emerging technologies and techniques for increasing the value of both in-house and third-party data sets.
- An understanding of how organizations are using interlinked data-inputs, analytics models, and decision-support tools to better understand their operations, customers, and markets.
- Expertise in web analytics and metrics, and the ability to procure and process unstructured text, and delve into hidden patterns within data sets.
- The ability to facilitate knowledge discovery using data mining and visualization techniques over vast amounts of data.
- Experience with building and assessing machine learning models.
Those who complete the Insurance Management master’s concentration in Corporate Finance will be able to demonstrate:
- The ability to analyze financial statements and financial models.
- Skill in performing discounted cash flow analysis and valuation.
- Expertise in calculating net present values and internal rates of return.
- Understanding of investment rules and the ability to make capital investment decisions.
- Proficiency in risk analysis and capital budgeting.
- Understanding of the capital structure of the firm.
- The ability to use econometric methods to analyze financial data.
- The knowledge to analyze industry trends, regulations, and finance system participants.
- Comprehension of the significance and importance of ethical behavior in all aspects of business.
- The capacity to investigate and analyze how changing regulatory environment in the US and abroad impacts finance.
Those who complete the Insurance Management master’s concentration in Project, Program & Portfolio Management will be able to:
- Evaluate critical success factors for projects and programs across industries, and use these factors to create project portfolios that align with strategic goals of the organization and describe best practices for managing such a portfolio.
- Construct a program management plan that describes best practices for the creation and management of programs and how to plan and coordinate resources, procurement, schedule, finance, risk, and change.
- Acquire in-depth practical knowledge of enterprise tools used in organizations to plan and manage a portfolio of programs and projects, and leverage project analytics data to make well-informed decisions.
Those who complete the Insurance Management master’s concentration in Supply Chain Management will be able to demonstrate:
- An understanding of the importance of supply chain management decisions in developing a business strategy for a firm.
- Foundational knowledge in supply chain management and its core principles, including logistics operations and/or import/export operations, lean practices, and/or Six Sigma practices.
- Knowledge of key supply chain management issues and tools vital in analyzing supply chain decision problems.
Awards & Accreditations
Accredited member of AACSB International―The Association to Advance Collegiate Schools of Business (through BU’s Questrom School of Business)
Newsweek magazine ranked Boston University’s online programs #4 in the nation in its 2023 survey.
Why Choose BU’s Master of Science in Insurance Management?
In 2025, Metropolitan College’s online master’s degrees in management were ranked #10 among the Best Online Master's in Business Programs (Excluding MBA) by U.S. News & World Report.
- Through Boston University’s Questrom School of Business, BU MET is an accredited member of AACSB International―The Association to Advance Collegiate Schools of Business.
- Students who hold the Chartered Property Casualty Underwriter (CPCU) credential are able to build on their experience and earn a master’s degree in Insurance Management by completing just eight courses.
- Students in the program have the option to concentrate in Applied Business Analytics; Corporate Finance; Project, Program & Portfolio Management; or Supply Chain Management.
Career Outlook
Financial Managers
17% increase in jobs through 2031
$131,710 median annual pay in 2021
Management Analysts
11% increase in jobs through 2031
$93,000 median annual pay in 2021
Financial Analysts
9% increase in jobs through 2031
$95,570 median annual pay in 2021
Operations Research Analysts
23% increase in jobs through 2031
$82,360 median annual pay in 2021
Business Continuity Planners
4–7% increase in jobs through 2031
$75,990 median annual pay in 2022
Accountants and Auditors
6% increase in jobs through 2031
$77,250 median annual pay in 2021
Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, visited July 2023
Tuition & Financial Assistance
Money Matters
Boston University Metropolitan College (MET) offers competitive tuition rates that meet the needs of part-time students seeking an affordable education. These rates are substantially lower than those of the traditional, full-time residential programs yet provide access to the same high-quality BU education. To learn more about current tuition rates, visit the MET website.
Financial Assistance
Comprehensive financial assistance services are available at MET, including scholarships, graduate loans, and payment plans. There is no cost to apply for financial assistance, and you may qualify for a student loan regardless of your income. Learn more.
Curriculum
The Boston University Metropolitan College Master of Science in Insurance Management consists of eight required courses (32 credits)*, including four core management courses and four additional courses. Students have the option to choose a concentration in Applied Business Analytics; Corporate Finance; Project, Program & Portfolio Management; or Supply Chain Management.
In addition, students must demonstrate achievement of the Chartered Property Casualty Underwriter (CPCU) credential.
*Degree requirements may vary for those students transferring credits from previous coursework at Boston University or receiving course waivers due to professional designations.
Courses
Core Courses
(Four courses/16 credits)
METAD632 Financial Concepts
Introduction to the concepts, methods and problems of accounting and financial analysis. Includes accounting principles, measurement and disclosure issues, financial statement analysis, time value of money, cash flow projection and analysis, capital budgeting and project evaluation, bond and equity valuation, cost of capital and capital structure. 4 cr. Effective Fall 2021, this course fulfills a single unit in each of the following BU Hub areas: Quantitative Reasoning II, Critical Thinking. [4 credits]
METAD642 Project Management
METAD715 Quantitative and Qualitative Decision-Making
Plus one course chosen from the following:
METAD610 Enterprise Risk Management
This overview course examines the management issues involved with assessing the security and risk environments in both the private and public sectors in order to assure continuous system-wide operations. The course studies the elements of operational and technological risk assessment and operational continuity using a project management framework and quantitative risk metrics. Students are exposed to the role of the firm in crisis response and management as well as the terms, systems, and interactions necessary to assure continuous operations. Topics include: the role and need for comprehensive assurance strategy and planning; information security; an overview of the system-wide structure; the social and emotional impact on the workforce as well as its effect on productivity; and the organizational infrastructure relating to national, regional, and international compliance. [4 credits]
METAD616 Enterprise Risk Analytics
Prereq: METAD571
The course offers an overview of the key current and emerging enterprise risk analytical approaches used by corporations and governmental institutions and is focused on understanding and implementing the enterprise risk management framework on how to leverage the opportunities around a firm to increase firm value. The major risk categories of the enterprise risk management such as financial risk, strategic risk, and operational risk will be discussed and risk analytics approaches for each of these risks will be covered. Students will learn how to use interlinked data inputs, analytics models, business statistics, optimization techniques, simulation, and decision-support tools. An integrated enterprise risk analytics approach will be demonstrated with examples from different functional areas of the enterprise. R, SQL, and Power BI software are used in this course. [4 credits]
METAD644 Project Risk and Cost Management
Prereq: MET PM100
This course introduces students to macro and micro approaches to project cost estimation. Case studies of both pre-project and in- process estimating examine some of the more common perils of human irrationality associated with project estimation to help develop more sensible, achievable project outcomes. Students learn how to manage both project cost and schedule objectives throughout their projects using the Earned Value and Earned Schedule Measurement Systems. Students then study risk management through an examination of both individual and overall project risk and apply their learnings using advanced risk management software in an actual case study. Students also study project quality management, procurement/contract management, and project ethics and professional conduct using case study scenarios. [4 credits]
No Concentration (Electives)
(Four courses/16 credits)
Students not pursuing a concentration in Applied Business Analytics; Corporate Finance; Project, Program & Portfolio Management; or Supply Chain Management must complete the degree core courses as well as four additional courses chosen with an advisor’s approval.
Concentration in Applied Business Analytics
(Four courses/16 credits)
Students pursuing a concentration in Applied Business Analytics must complete the degree core courses as well as the following concentration requirements:
METAD571 Business Analytics Foundations
Plus three of the following:
METAD616 Enterprise Risk Analytics
Prereq: METAD571
The course offers an overview of the key current and emerging enterprise risk analytical approaches used by corporations and governmental institutions and is focused on understanding and implementing the enterprise risk management framework on how to leverage the opportunities around a firm to increase firm value. The major risk categories of the enterprise risk management such as financial risk, strategic risk, and operational risk will be discussed and risk analytics approaches for each of these risks will be covered. Students will learn how to use interlinked data inputs, analytics models, business statistics, optimization techniques, simulation, and decision-support tools. An integrated enterprise risk analytics approach will be demonstrated with examples from different functional areas of the enterprise. R, SQL, and Power BI software are used in this course. [4 credits]
METAD654 Marketing Analytics
Prereq: METAD571
Become familiar with the foundations of modern marketing analytics and develop your ability to select, apply, and interpret readily available data on customer purchase behavior, new customer acquisition, current customer retention, and marketing mix optimization. This course explores approaches and techniques to support the managerial decision-making process and skills in using state-of-the- art statistical and analytics tools. Students will have an opportunity to gain a basic understanding of how transaction and descriptive data are used to construct customer segmentation schemas, build and calibrate predictive models, and quantify the incremental impact of specific marketing actions. Python, R, SQL, and Power BI software are used in this course. [4 credits]
METAD688 Web Analytics for Business
Prereq AD100, ADR100, AD571
Explore web analytics, text mining, web mining, and practical application domains. The web analytics part of the course studies the metrics of websites, their content, user behavior, and reporting. The Google Analytics tool is used for the collection of website data and doing the analysis. The text mining module covers the analysis of text including content extraction, string matching, clustering, classification, and recommendation systems. The web mining module presents how web crawlers process and index the content of websites, how search works, and how results are ranked. Application areas mining the social web and game metrics will be extensively investigated. R, SQL, and Power BI software are used in this course. [4 credits]
METAD699 Data Mining for Business Analytics
Concentration in Corporate Finance
(Four courses/16 credits)
Students pursuing a concentration in Corporate Finance must complete the degree core courses as well as the following concentration requirements:
METAD630 Financial and Managerial Accounting
Introduction to the concepts, methods, and problems of financial and managerial accounting. Includes data accumulation, accounting principles, financial statement analysis, measurement and disclosure issues, cost analysis, budgeting and control, production costs, and standard costs. [4 credits]
METAD678 Financial Regulation and Ethics
Financial Regulation and Ethics is a course designed to thoroughly review the important topics of financial regulations, policies, and ethics. The course will explore an overview of the financial systems, their history, problems, and issues for the purpose of understanding the enactment of regulations as a method to protect the financial systems and investors. Also, regulators and their authority will be identified, both domestically and internationally.
Ethics, an extremely important aspect of finance will be discussed and explored. Ethics is a difficult topic to define and can be impacted by social norms. During the ethics portion of the course, students will study where ethics have failed and caused major issues for the financial marketplace and individual companies. [4 credits]
METAD685 Quantitative Methods for Finance
Finance is a highly competitive and dynamic industry that demands quantitative oriented professionals. This course will equip students with the empirical techniques which are used in the analysis of financial markets with a strong focus on financial applications using actual data.
The goal of this course is to provide students with a number of econometric techniques which are used in the analysis of financial markets based on asset pricing and corporate finance models. In particular, the emphasis will be on classical linear regression models, time series analysis, and limited dependent variable models applied to the following topics: predictability of asset returns; event study analysis; econometric tests of the CAPM and multifactor models; volatility modelling, etc. [4 credits]
METAD731 Corporate Finance
Undergraduate Prerequisites: MET AD 630 - Emphasizes issues of accounting, finance, and economics that are important in most management contexts. Stresses understanding financial statements, planning and control, cost and benefit evaluation, cash flow analysis, and capital budgeting. [4 credits]
Concentration in Project, Program & Portfolio Management
(Four courses/16 credits)
Students pursuing a concentration in Project, Program & Portfolio Management must complete the degree core courses as well as the following concentration requirements:
METAD646 Portfolio and Program Management
Prereq PM 100, PM200
The course focuses on the relationship among portfolios, programs, and projects, and the important strategic objectives of each endeavor. The course is designed to assist students in developing a program management framework, policy, and organizational structure. Students will develop skills and techniques for chartering constituent projects, directing and managing program execution, and managing the program team and stakeholders. The global legal, economic, cultural, and political environments in which projects operate will be contrasted, and mechanisms for resolving conflicts will be addressed. [4 credits]
METAD782 Project Value Strategies
Plus one of the following:
METAD647 Project and Program Governance
METAD649 Agile Project Management
Prereq: MET PM100
The course provides an understanding of how new Agile principles and practices are changing the landscape of project management. The course is designed to give project managers fresh new insight into how to successfully blend Agile and traditional project management principles and practices in the right proportions to fit any business and project situation. The course provides a deep understanding of Agile project management principles and practices in order to see them as complementary rather than competitive to traditional project management. Topics include: Agile fundamentals, principles, and practices; roots of Agile in TQM and Lean Manufacturing; adapting an Agile approach to fit a business environment; planning and managing an enterprise- level Agile transformation; scaling agile to an enterprise level using enterprise-level Agile frameworks and Agile Project Management tools. 4cr. [4 credits]
And one elective chosen with an advisor’s approval.
Concentration in Supply Chain Management
(Four courses/16 credits)
Students pursuing a concentration in Supply Chain Management must complete the degree core courses as well as the following concentration requirements:
METAD605 Operations Management: Business Process Fundamentals
This course will provide students with the analytical tools to analyze, manage, and improve manufacturing, service, and business processes. Coverage includes various options to lower operational costs and improve responsiveness to customers' needs, including operating system design, product & service design, capacity analysis & buffering, waiting line optimization, and process quality analysis using statistical approaches. Quantitative methods include application of stochastic simulation, analysis of random outcomes, statistical analysis routines (confidence intervals, hypothesis testing, machine learning), system reliability analysis, and statistical process control. The Deming philosophy of management, Lean operations principles, and Six Sigma process improvement methodologies form the underlying foundation of the course coverage. [4 credits]
METAD680 Global Supply Chains
This course covers the quantitative analysis tools to support operations management for a supply chain that is geographically dispersed and culturally diverse. The tools necessary to assure that the products/services are delivered/provided in the quality and timely manner include demand forecasting, inventory and capacity buffer optimization, delayed differentiation, statistical risk pooling, and stochastic inventory optimization. These tools are applied to decisions such as offshoring, multi-country outsourcing, push-pull, reverse supply chains, and risk mitigation. Particular attention is given to sustainability, information technology and digitalization, and creating resiliency. [4 credits]
Plus two of the following:
METAD690 Strategic Logistics Management
This course covers quantitative approaches to logistics management. It teaches network optimization techniques and center gravity models for location analysis, mathematical programming for selecting the optimal transportation modality, statistical distributions for modeling the statistical uncertainty around the arrivals of trucks to a warehouse or a store, and inventory modeling for optimizing distribution centers. The course introduces mathematical models for warehouse layout decisions, learning curve models, and logistics network design in the context of today's increasingly digitalized supply networks. [4 credits]
METAD734 Quality Management
Course participants will be exposed to the fundamental principles involved in the analysis and management of quality for enterprises and their supply chain. Quality is defined in the broadest sense, encompassing all performance components that drive customer satisfaction. The course focuses on management principles, statistical modeling and analysis, and their application in a variety of industrial, service, healthcare, and educational environments. Topics include the Deming philosophy of management, Six Sigma and the DMAIC project framework, quality certification systems, statistical data analysis & presentation, statistical modeling using control charts, and statistical analysis of process capability. Students will earn a Six Sigma Green Belt based on satisfactory performance on the final examination. [4 credits]
METAD760 International Trade and Logistics
This course provides extensive insight into international trade practices and corporate decision-making criteria attendant to global import/export and other market entry strategies, and management of international logistics operations including global sourcing, global transportation, facility network design, intermediaries, and trade documentation. Topics include operations, government agencies, import/export channel networks, and the evaluation of international opportunities with the help of a business simulation package specifically prepared for this course. It is designed to provide students with the skills and tools necessary for international trade and international logistics management. [4 credits]
Vladimir Zlatev
Associate Professor of the Practice and Director of Digital Learning, Administrative Sciences; Coordinator, Applied Business Analytics
PhD, MS, BS, Dresden University of Technology
Marcus Goncalves
Associate Professor of the Practice; Coordinator, Global Marketing Management; Associate Chair, Administrative Sciences
PhD, University of Saint Joseph; EdD, Boston University; MS, Southwest University; BS, Faculdades Integradas Simonsen, Rio de Janeiro, Brazil
John Maleyeff
Associate Professor of the Practice, Administrative Sciences; Coordinator, Enterprise Risk Management
PhD, MS, University of Massachusetts at Amherst
BA, East Stroudsburg State College
View all Faculty
Canan Gunes Corlu
Associate Professor, Administrative Sciences; Coordinator, Supply Chain Management; Codirector, Decision Sciences Research Laboratory
PhD, MS, Tepper School of Business at Carnegie Mellon University; BS, Koc University
Vijay Kanabar, PMP
Associate Professor, Computer Science and Administrative Sciences; Director, Project Management
PhD, University of Manitoba (Canada); MS, Florida Institute of Technology; MBA, Webber College; BS, University of Madras (India)
Christopher Athaide
Assistant Professor, Administrative Sciences
PhD, Massachusetts Institute of Technology
MS, Rensselaer Polytechnic Institute
BTech, Indian Institute of Technology, Mumbai
Alexander Becker
Assistant Professor, Administrative Sciences
Coordinator, Finance Programs
PhD, Boston University; Diplom-Physiker, University of Duisburg-Essen
Virginia A. Greiman, PMP
Assistant Professor, Administrative Sciences
JD, Suffolk University Law School; LLM, Boston University School of Law; MEd, Boston University; BS, Pennsylvania State University; PMP (Project Management Professional), Project Management Institute
Ivan Julio
Assistant Professor, Administrative Sciences
PhD, University of New Orleans; MSc, Arizona State University; Licentiate in Economics, National University of Córdoba
Jennifer Lee
Assistant Professor, Administrative Sciences; Coordinator, Global Marketing Management
PhD, State University of New York at Binghamton; MA, Oregon State University; BS, Yonsei University
Kathleen Park
Assistant Professor, Administrative Sciences; Coordinator, Innovation
PhD, SM, MBA, Massachusetts Institute of Technology
BA, Harvard University
Richard Maltzman
Master Lecturer
MS, Purdue University
BSEE, University of Massachusetts at Amherst
Gregory Page
Master Lecturer
MBA, Massachusetts Institute of Technology
ME, Harvard Graduate School of Education
BA, Stanford University
San Chee
Senior Lecturer, Administrative Sciences
MS, Rensselaer Polytechnic Institute; MS, Boston University
Megan M Trainor
Senior Lecturer
Senior Director of Program Administration, Administrative Sciences
DBA, Wilmington University
MBA, Anna Maria College
BA, Saint Michael’s College
Krystie Dickson
Lecturer, Administrative Sciences
MS, Boston University
MS, The Arthur Lok Jack Global School of Business, University of the West Indies
BS, University of the West Indies
David Ritt
Lecturer, Administrative Sciences
MS, Boston University; BA, University of Chicago
Branka Tomic
Lecturer, Administrative Sciences
MS, Boston College
BA, University of Belgrade, Serbia
Hanbo Yu
Lecturer, Administrative Sciences
MS, Boston University
BS, Zhejiang University, Hangzhou, China
Getting Started
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