Insurance and Risk Management University of the Witwatersrand, Johannesburg

Overview

Key facts

The Bachelor of Commerce in Insurance and Risk Management is offered at University of the Witwatersrand, Johannesburg  .

Risk management refers to the way in which risks are identified, assessed and prioritised and the means used to minimise, monitor and control the threat posed by unpredictable events.

Insurance is a risk management mechanism that enables companies, individuals and society to protect themselves against adverse outcomes from risk events. Risk comes from various sources, such as social, economic, political, legal/regulatory, as well as environmental factors, such as global warming and climate change.  Insurance forms part of the broader field of risk management.  

Risk management refers to the way in which risks are identified, assessed, and prioritised, and the means used to minimise, monitor, and control the threat posed by unpredictable events. 

Career Opportunities

The insurance and risk management field offers a wide range of career opportunities. Apart from the traditional insurance industry, many organisations have departments requiring insurance and risk management skills. These include insurance divisions in commercial banks, motor vehicle manufacturers and finance houses, health insurers, reinsurance companies, risk consultants, broking firms, pension funds, regulatory and compliance departments within financial services firms and investment. The nature of jobs where insurance and risk management skills are required keeps evolving, with some traditional jobs also being redefined in the process.