Students Gain a Global Insurance Perspective and Valuable Cultural Insights
By Aaron Hoefle, student (expected graduation: December 2013, majors: Finance and Economics, completing the RMI Certificate)
The London Risk Management in a Global Economy course was an exceptional opportunity for students to gain a global perspective of the risk management and insurance industry. Students participated in class lectures, cultural events, and company visits. Also, Tippie graduate Amlan Roy (M.A. 1991, economics), who works for Credit Suisse, gave a fascinating presentation on demographics and how they affect the world we live in. These activities provided a well-rounded educational and cultural understanding of the global markets and the city of London.
The classroom activities included lectures that provided students with the knowledge of each major type of insurance in the global market: life, health, property, and liability. In addition, each student was assigned a class presentation on a company that the class would later visit. The lectures and company presentations were an outstanding vehicle for students to familiarize themselves with the industry and the functions of each company they would visit.
Various cultural events were intermingled between class lectures and company visits. The cultural events included tours of St. Paul's Cathedral, Fulham Soccer Club, the Museum of London, and Parliament. In addition, there was a half day couch tour of the city of London, a day trip to the Roman Baths and Stonehenge, and a theater performance of 'Thirty-Nine Steps.' The various cultural events allowed students to experience the extraordinary and unparalleled culture of London and England.
The company visits were the most rewarding parts of the course for me. I enjoyed learning firsthand how each piece (brokerage, primary insurance, reinsurance, consulting, underwriting, etc.) of the global insurance and risk management industry functions. We visited Lloyd's of London, Principal Global Investors, Lockton International, Hiscox, and Exclusive Analysis. During each visit, senior-level executives presented an operational overview of the firm, which included detailed descriptions of the responsibilities of each department within the organization. In the case of Lloyd's of London and Principal Global Investors, the students were able to tour the building and gain an understanding of how business was conducted. It is important to note how exclusive each of these visits were, which made the visits the most outstanding educational experience.