Certificate in Leadership and Business Acumen
Purpose: The Purpose of the Certificate in Leadership and Business Acumen (CLBA) is to provide students with an opportunity to develop and demonstrate skills and knowledge sought after by industry employers, which they may not be able to attain from a traditional classroom experience. By demonstrating skills and knowledge in three categories, students who complete this certification should be well-suited to enter and excel in the insurance industry.
Overview: Students earning the Certificate in Business Acumen must complete activities that total a minimum of 100 points. Students can earn points from any of the categories but must earn at least 25 points from each category. Students who have had an insurance internship are only required to earn 75 points. Assessments will be done on learning in categories 1 and 3. Category 2 points will be earned by participation as most of these will be industry presentations with the exception of the research project which would be assessed. Eligibility to enter into and remain in the program is cumulative GPA of 3.0 or higher. The following describes each of the categories:
Category 1: The purpose of this category is to encourage students to delve deeper into a technical area of risk management or insurance. Research into specific areas such as the use of social media by insurance agents, or trends in frequency and severity of auto losses in Illinois, with accompanying papers and presentations would be one example. Passing professional examinations in areas such as underwriting, risk management, claims, reinsurance, sales, surplus lines, tort law, insurance regulation, insurance fraud detection, and subrogation would also be a way of demonstrating this deeper knowledge. This category is to recognize the importance of exploring some of the nuances required to be an industry professional. Although it may complement what is covered in the classroom, credit will only be given for learning experiences outside the classroom. A non-exhaustive list of examples for Category 1 activities is included in the following table.
Category 2. The purpose of this category is to encourage students to acquire a broader knowledge base of the insurance industry to complement their classroom education. This includes topics such as lessons learned from Hurricane Sandy, how the Dodd-Frank Act affects insurers, and how growth in technology is affecting insurer and broker operations. Many of these may come from industry presentations about emerging issues in risk management and insurance that are offered in presentations by outside speakers for Gamma Iota Sigma and the actuarial conferences. Also presentations as part of the Katie School Insurance Executive Forum, Risk Manager in Residence, Katie School Symposium, CPCU Society I-Day, or luncheon speakers with RIMS or the CPCU Society would count for credit in this category.
Category 3: The purpose of this category is to encourage students to engage in behavioral-based learning events that build important business acumen skills in areas such as oral presentations, business writing, networking, collaborative teambuilding, negotiations, project management, business ethics, and consulting. These often require active participation in experiential learning activities guided by coaches and mentors. Assessments related to any of these skills are also encouraged and included in this category.
Other Activities Not Specified to a Given Category:
- Team Competitions (Risk Management Competition; Student Research Competition, Innovation Consulting)
- Consulting and Research on Industry Topic with Industry Partner or Faculty Member
- Students may petition, in writing, to have other activities (outside of classroom and internship experiences) count toward the certification.
BENEFITS OF THE CERTIFICATE IN LEADERSHIP AND BUSINESS ACUMEN (CLBA) INCLUDE:
- Resume builder that will add value and be highly regarded by insurance employers
- Opportunity to improve skills in areas sought by the insurance industry
- Strong consideration and preference will be given to CLBA students for Katie School scholarships
- Opportunity to gain knowledge and network with industry professionals
- Flexible schedule that will allow you to manage your time effectively
- Students who have completed a FIL 289.10 or FIL 398.10 insurance internship only require an additional 75 points for the CLBA
SPECIAL CONSIDERATIONS:
- Independent studies may count toward certification with prior approval from Katie School Director.
- The purpose for this program is to allow students to demonstrate initiative, and build skills and knowledge outside of the requirements for a traditional course.
- Students selected for conferences may include sessions attended in their certification. Students must submit their session information promptly after the conference. Students seeking credit for Category 1 may be asked to do a short presentation or write a short summary of what they learned in the session.
- Students may petition for credit for other activities not specified in the sheet.
Examples of Other Activities Not Specified to a Given Category:
- Team Competitions (RIMS Risk Management Competition; Big I/PRISM Insurance Agency Competition)
- Consulting and Research on Industry Topic with Industry Partner or Faculty Member via Innovation Consulting Community
- Tableau Business Analytics Competition
Winning visual analytics competition video.
Presentation #1: Analysis of A.M. Best Insurer Data
Presentation #2: Analysis of Claims Data