Surprisingly, some form of insurance existed as early as 4000-3000 BCE. Today, insurance companies post nearly a half-billion dollars in profit. These are the Best Online Insurance Degrees.
![]()
What Is an Insurance Degree?
What Is an Insurance Degree?You can enter the insurance industry without a degree, but as insurance and risk management becomes more complex, colleges and universities now offer formal degree programs—many of them offering online options. These Bachelor of Science programs concentrate in insurance and risk management. Programs are usually titled Risk Management and Insurance, and successful students receive a Bachelor in Business Administration.
How Much Can You Earn with a Risk Management and Insurance Degree?
Earnings potential with a BS in Risk Management and Insurance depends in part on your employment. The Bureau of Labor Statistics breaks this bachelor’s preparation into two careers: underwriters and actuaries. Where you work impacts salary expectations. The BLS sets median annual salaries at $69,380 for underwriters and $102,880 for actuaries. Additionally, the BLS projects different job growth rates for the two roles. Between 2018-2028, job growth for actuaries is expected to grow at a faster than average 20 percent rate. Underwriters, on the other hand, may see a 5 percent decline in job opportunities within the same period.
Want to prevent insurance fraud? Consider the Best Forensic Accounting programs.
What’s Required For a Risk Management and Insurance Degree?
Most insurance related companies prefer to hire people with bachelor’s degrees. With a BS in Risk Management and Insurance, you can expect to study insurance law, risk management principles, accounting, statistics, economics, etc. You may also take courses in computer science, communications, and other general education courses (English, history, social studies, etc.).
What Are the Best Risk Management and Insurance Degrees?
OSR uses six data points: three school-wide and three program specific. For school-wide, OSR uses Student Satisfaction, Admission Rates, and the number of programs the school offers online. For program specific, OSR checks the Median Debt of graduates from that program, how many degrees are offered within that program’s umbrella department, and what percentage of students at that school graduated from that department.
The six statistics are displayed by each school. The sliding bar under each statistic represents how that school compares to other US institutions. “Not reported” means a school did not release that information to the US Department of Education. A more detailed description of the OSR process can be found on the methodology page.
If you’re looking for a more general degree that can lead to several different careers in financial sectors, consider the Best Accounting Degrees.
Franklin University
20-Year ROI$960,502![]()
Quick Facts
- Tuition: $12,216(in state) / $12,216(out of state)
- 124 Credit Hours
- 100% Online
- College credit for The Institutes training programs
School Wide
Program Level
100%OSR ScoreFranklin University has been providing distance education for 115 years. The curriculum is broad and develops skills in six insurance related topics. The school suggest checking your state’s licensing requirements to determine if this program is right for you.
University of Houston-Downtown
![]()
Quick Facts
- Tuition: $4,996(in state) / $14,616(out of state)
- 120 Credit Hours
- Scholarships available
- Accepts transfer credits
School Wide
Program Level
72%OSR ScoreRanking in the top 100 of U.S. News and World Report’s “Best Online Bachelor’s Programs,” this urban school prepares students for professional designations in CPCU, CRM, CLU, and more. This program is specifically designed for the working student and may include field trips, group projects, and industry meetings.
Indiana State University
![]()
Quick Facts
- Tuition: $8,716(in state) / $19,252(out of state)
- 120 Credit Hours
- Scholarships available
- Optional minors possible
School Wide
Program Level
67%OSR ScoreIndiana State University is nationally rated as offering a “Best Online Bachelor’s Programs” by U.S. News and World Report and as an “America’s Best Value Colleges” by Forbes. The program is 100 percent online. Coursework includes Statistics, Life Insurance, Commercial Liability Risk Management and Insurance, and electives in Principles of Investment, Health Insurance, etc.
Ohio Dominican University
20-Year ROI$809,469![]()
Quick Facts
- Tuition: $30,500(in state) / $30,500(out of state)
- 120 Credit Hours
- Guaranteed job interview on graduation
- Academic credit for CPCU designation requirements from The Institutes
School Wide
Program Level
65%OSR ScoreYou can choose a minor in Supply Chain Management, Sociology, or Entrepreneurship and Marketing. Ohio Dominican University also offers the Risk Management and Insurance certificate, an associate’s degree, or MBA with a Risk Management concentration.
University of Louisiana at Monroe
![]()
Quick Facts
- Tuition: $5,788(in state) / $17,888(out of state)
- 120 Credit Hours
- RMI industry sponsored scholarships available
- One of the largest RMI programs in the Southeast
School Wide
Program Level
63%OSR ScoreU.S. News and World Report rates the University of Louisiana Monroe as one of its “Best Online Bachelor’s Programs” and “Best Online MBA Programs.” If you have designated CPCU requirements from The Institutes, you can waive up to two of the eight CPCU courses. The school offers rolling admission.
