Executive MBA in Insurance and Financial Services 90 ECTS

Managers in the insurance and financial sector are met with growing demands for up-to-date and comprehensive know-how as the insurance and financial businesses integrate and service processes consolidate. Internationalisation and the changing operating environment require global perspective and competitive edge in the demanding and expanding markets. Simultaneously, national competition has intensified and expectations on reliable insurance and financial services have increased.

These developments pose considerable challenges to especially management. It is more important than ever that each manger has skills in strategic management. Also, it is important to master the special characteristics of insurance and financial businesses both at the national and international levels. This MBA programme offers insights and tools to confront these challenges.

The development of new business opportunities, enhancement of organizational efficiency and advancement of customer satisfaction as well as successful human resources management need skilled people. Competence development produces results that are shown on the bottom line of the financial statement. The development of competencies is a personal asset for the student.

Executive MBA in Insurance and Financial Services is the second consecutive management development programme for the financial and insurance sector. It is produced in collaboration with University of Tampere and Financial and Insurance Institute FINVA. The courses are taught by insurance and financial services experts and academics. The instructors have either long working experience in the field or are specialists with command of the newest theories in the business.

Executive MBA combines newest research findings and practical experience. The program’s emphasis is in strategic management.

The program presents the students with the opportunity of exploring personal thinking and working habits as a collaborative process. Different pedagogical approaches contribute to the learning experience. The MBA program comprises interactive in-class teaching and assignments based on course literature. The learning process consists of both independent and collaborative studying in Financial and Insurance Institute FINVA’s web-based learning environment.

Course Structure

Strategic Management, 9 ECTS

The goal of this course is to offer the student both broad and in depth view of strategic management. The course presents management theories, which are applied in the field of insurance and financial services through practical cases. The course places special emphasis on the nature of the operating environment, its scenarios and forces of change. Other important aspects include implementation of strategy, international operations, partnership, corporate governance, ethical standards and customer service.

Strategic Leadership and Knowledge Management, 9 ECTS

Students learn the functional model of encouraging and rewarding strategic leadership and knowledge management in the specialist organization. Important aspects include the integration of business and knowledge strategies as well as the creation and development of strategic core competencies and knowledge. Motivating organizational culture that supports renewal, values and well-being at work are among the issues discussed in the course. What qualities does a good manager possess and how should managers maintain their competencies? These questions are explored during the course.

Management in Insurance Business and Financial Services, 9 ECTS

Students familiarize with insurance and financial services as an entity that is part of economical and physical safety. The course orientates students to the innovative management of this entity. The subject is approached from the point of view of the challenges presented by society, financial decision making and developing legislation in Finland and the European Union, as well as other countries in the world. (See picture on the previous page.) In addition, especially Insurance and Financial theories receive in-depth attention.

Strategic Cost Management and Management Accounting, 9 ECTS

The course introduces issues in modern management accounting, its supportive role in strategic management and its function as improving the efficiency of tactical leadership. Important themes include cost and profit management, BSC, internal and external reporting, corporate analysis together with information given in annual reports and sector analysis.

Stakeholder Management, 9 ECTS

The student acquires an understanding of the management of the most significant stakeholder relationships, networks, channels and processes. The course offers perspectives into the implications of the business field to marketing efforts, marketing strategies and the management of marketing and the core questions of management communications. Contemporary customer service and the identification of services constitute an important dimension in customer relationship management.

Risks and Risk Management, 9 ECTS

The course views comprehensive risk management from different angles to form a broad sense of the subject. Internal, social and global points of view are discussed during the course. In addition, risk management tools are used in practice in the form of real-life exercises. New aspects into risk management, common principles of risk selection and the importance of risk management to the development of corporate value are assessed.

Target group

The program is designed for managers and specialists working in the insurance or financial sector. The applicants should have an academic degree and a minimum of five years of working experience.

The Structure and Length of the Program

The program consists of 90 ECTS. The completion of the program takes approximately 3 years of part-time studies. The program includes 43 days of in-class teaching in the form of lectures, discussions and group work. The program includes a study tour to Switzerland. Additionally, 16 ECTS of management and insurance and financial business studies are required. These electives need to be accepted into the student’s personal study plan. The students demonstrate their acquired knowledge of the core competencies of insurance and financial businesses in a MBA thesis (20 ECTS).

Language of Instruction

The language of instruction is mainly Finnish. The program requires both oral and written skills in English.

Further information

For further information, please contact: Managing Director, Principal Hannele Ikonen, FINVA +358 9 6804 0268 or eMBA Coordinator Erja-Leena Järvenpää, TYT +358 3 3551 7076.