Purpose: The Purpose of the Certificate in Leadership and Business Acumen (CLBA) is to provide students with an opportunity to develop and demonstrate skills and knowledge sought after by industry employers, which they may not be able to attain from a traditional classroom experience. By demonstrating skills and knowledge in three categories, students who complete this certification should be well-suited to enter and excel in the insurance industry.
Overview: Students earning the Certificate in Business Acumen must complete activities that total a minimum of 100 points. Students can earn points from any of the categories but must earn at least 25 points from each category. Insurance internship (FIL 398.10) are worth 25 points. Evaluations will be done on activities for categories 1 and 3. Category 2 points will be earned by participation as most of these will be industry presentations. Eligibility to enter into and remain in the program is cumulative GPA of 3.0 or higher. The following describes each of the categories:
Category 1 - Non-Course Technical Skills: The purpose of this category is to encourage students to delve deeper into a technical area of risk management or insurance. Research into specific areas such as the use of social media by insurance agents, or trends in frequency and severity of auto losses in Illinois, with accompanying papers and presentations would be one example. Passing professional examinations in areas such as underwriting, risk management, claims, reinsurance, sales, surplus lines, tort law, insurance regulation, insurance fraud detection, and subrogation would also be a way of demonstrating this deeper knowledge. This category is to recognize the importance of exploring some of the nuances required to be an industry professional. Although it may complement what is covered in the classroom, credit will only be given for learning experiences outside the classroom.
Category 2 – Industry Understanding: The purpose of this category is to encourage students to acquire a broader knowledge base of the insurance industry to complement their classroom education. This includes topics such as lessons learned from Hurricane Sandy, how the Dodd-Frank Act affects insurers, and how growth in technology is affecting insurer and broker operations. Many of these may come from industry presentations about emerging issues in risk management and insurance that are offered in presentations by outside speakers for Gamma Iota Sigma and the actuarial conferences. Also presentations as part of the Katie School Insurance Executive Forum, Risk Manager in Residence, Katie School Symposium, CPCU Society I-Day, or luncheon speakers with RIMS or the CPCU Society would count for credit in this category.
Category 3 – Soft Skills: The purpose of this category is to encourage students to engage in behavioral-based learning events that build important business acumen skills in areas such as oral presentations, business writing, networking, collaborative teambuilding, negotiations, project management, business ethics, and consulting. These often require active participation in experiential learning activities guided by coaches and mentors.