by our College Data Analytics TeamInsurance serves a vital function in businesses by assessing and protecting against risk. If you are interested in the field of Risk Management for Businesses, Insurance may be a good major for you.
There are different kinds of risk associated with business. Whether it be your employee getting hurt on the job, or inventory is damaged or stolen; these situations can all be elucidated by risk management. Risk management is a form of insurance, which will protect companies against injury and loss. If you pursue a degree in Insurance you will learn handle risk and provide insurance and risk management for business, organizations, and individuals.
While studying this major, you will take various courses on health care financing, retirement plans, life and health insurance, risk management, employee benefits, and principle of insurance. This major is commonly offered as a Bachelor's degree.
A major in Insurance involves the study of Insurance. Read on to learn the essential details every insurance major should know — including career paths, salary data, the skills you will develop, and the best colleges offering insurance programs.
In the U.S., insurance is a popular field of study, with 2,147 degrees awarded annually.
Our 2026 Best Insurance Schools ranking analyzes these 75 schools to determine the best overall colleges for insurance students. Continue reading to check out one of our many unbiased rankings of insurance programs later in this article.
Studies in Insurance develop a specific mix of skills, knowledge, and abilities — derived from O*NET surveys of workers in the occupations insurance graduates commonly enter.
Strong people skills will help you achieve success in this major and a future career. You will be working directly with many different clients; in order to understand their needs and concerns it is important to be personable and trustworthy. Relationship building will be part of the job.
Mathematical skills are required to match and calculate prices, as well as to assess risk and the cost of possible damaging situations. If this is a field that interests you, prepare for it while still in high school. Take courses in business, accounting, economics, statistics and computer applications if they offered at your school.
The skill set built by a insurance program reflects the day-to-day work of related occupations:
Based on O*NET data, a insurance major emphasizes the following knowledge areas:
There are several insurance degree levels. The table below shows the typical length of the most common levels, and how many graduates earn each one.
| Degree | Typical Program Length | Graduates Annually |
|---|---|---|
| Certificate | Varies | 19 |
| Associate Degree | 2 years | 15 |
| Bachelor’s Degree | 4 years | 1,130 |
| Master’s Degree | 1-3 years | 981 |
People currently working in careers related to insurance tend to have obtained the following education levels.
| Level of Education | Percentage of Workers |
|---|---|
| Bachelor’s degree | 45.8% |
| Associate’s degree (or other 2-year) | 12.4% |
| Some college courses | 10.2% |
| High school diploma or equivalent | 8.3% |
| Post-baccalaureate certificate | 5.8% |
| Postsecondary certificate | 5.7% |
| Doctoral degree | 4.9% |
| Master’s degree | 4.6% |
| First professional degree | 2.2% |
See the chart below to get an idea of what level of education most of those in insurance careers hold.
Source: ONET Online education / training / experience requirements.*
Insurance is necessary for everyone; therefore graduates with a degree in Insurance will have many opportunities within this field. One quickly growing field is that of Insurance Sales Agents. These agents are professionals who assist individuals and companies to choose which insurance policies match their needs, in terms of their lives, property, and health.
Another popular field is to become an Actuary. Actuaries determine how likely various events are going to occur. They take that information and create different plans to fit individuals and companies. Additional career options include Insurance Underwriters, Personal Financial Advisors, Claims Adjuster, Examiners, and Investigators.
A degree in insurance prepares you for many career paths. Below are some of the most common occupations related to insurance.
The following options are some of the most in-demand careers related to insurance.
| Occupation | Projected Jobs | Expected Growth |
|---|---|---|
| Insurance Sales Agents | 1,004,547 | 8.7% |
| Appraisers of Personal and Business Property | 814,640 | 8.0% |
| Claims Adjusters, Examiners, and Investigators | 707,069 | 12.2% |
| Compensation and Benefits Managers | 255,286 | 6.5% |
| Business Teachers, Postsecondary | 181,317 | 10.6% |
| Compensation, Benefits, and Job Analysis Specialists | 128,224 | -3.3% |
| Insurance Appraisers, Auto Damage | 67,376 | 8.6% |
| Insurance Underwriters | 55,479 | -3.6% |
Federal data tracks median earnings of insurance graduates 1, 4, and 5 years after completion. Earnings tend to climb as graduates gain experience.
| Years Out | Median Earnings |
|---|---|
| 1 year | $64,199 |
| 4 years | $77,212 |
| 5 years | $90,335 |
Source: U.S. Department of Education College Scorecard, field-of-study earnings tracker.
Salaries for insurance graduates vary widely by occupation. The following table shows the top highest-paying careers insurance grads often go into.
| Occupation | Median Annual Salary |
|---|---|
| Insurance Underwriters | $129,939 |
| Insurance Appraisers, Auto Damage | $119,691 |
| Appraisers of Personal and Business Property | $118,242 |
| Compensation and Benefits Managers | $107,570 |
| Business Teachers, Postsecondary | $80,576 |
| Compensation, Benefits, and Job Analysis Specialists | $65,230 |
| Insurance Sales Agents | $47,818 |
| Claims Adjusters, Examiners, and Investigators | $46,655 |
With 75 different insurance programs to choose from, finding the best fit can be a challenge. We have analyzed these schools to produce unbiased insurance school rankings to help you.
If you are interested in insurance, you may also want to explore other closely related fields of study within the same broad area.
| Major | Annual Graduates |
|---|---|
| Insurance | 2,147 |
| Related Major | Annual Graduates |
|---|---|
| Business Administration, Management and Operations | 402,942 |
| Accounting and Related Services | 81,835 |
| Management Sciences and Quantitative Methods | 62,236 |
| Business/Commerce, General | 57,976 |
| Finance and Financial Management Services | 57,564 |
| Marketing | 53,750 |
| Human Resources Management and Services | 25,424 |
| Business Operations Support and Assistant Services | 16,153 |
| Entrepreneurial and Small Business Operations | 14,306 |
| Hospitality Administration/Management | 13,333 |
More about our data sources and methodologies.
