Business - Insurance
|Duration:||4 Semesters (2 Years)|
|Start Dates:||Fall, Winter, |
Start dates are subject to change
|Credential Awarded:||Ontario College Diploma|
The Business – Insurance program prepares you for a dynamic career in the property and casualty (general) insurance industry in Canada where 49% of the work force is between 41 and 60 years of age currently. Offered in co–operation with the Insurance Institute of Canada (IIC), this program is anchored on the fundamental aspects of both business and insurance and was designed with experts from several national insurance firms. You’ll learn from courses that focus specifically on brokerage, underwriting and claims where career prospects are extremely strong. As a graduate, you will have had the opportunity to earn eight credits toward the internationally recognized Chartered Insurance Professional (CIP) designation. As part of the program, you’ll register with the IIC for the CIP courses/exams at an additional cost.
Program Learning Outcomes:
This Seneca College program meets the system-wide standards as set by the Ministry of Training, Colleges and Universities.
As a graduate, you will be prepared to reliably demonstrate the ability to:
- Describe the impact of major economic systems and current trends on Canadian society and business generally and the general insurance industry specifically.
- Discuss the major categories of insurance and the purpose, structure and functions of industry organizations.
- Using risk assessment models, analyze the terms of basic fire policy, automobile liability coverage, and coverage under accident benefits.
- Develop an effective plan that incorporates industry standards for claims investigation. Explain the basis of evaluation to meet the insurer’s obligations.
- Describe risk underwriting in property, liability and automobile insurance, and evaluate the significance of the application, the loss experience and the impact of the Canadian legal system.
- Design, construct and use spreadsheets that will provide meaningful information to support decision making and problem solving.
- Use general accounting principles and follow internal control procedures to solve a variety of business problems.
- Explain the communication process and apply principles of effective communication in listening, speaking and writing.
- Identify sources of conflict and effectively utilize conflict management techniques.
- Demonstrate how Canadian markets function including the analysis of supply, demand and price levels.
- Demonstrate an understanding of the structure and processes of the Canadian legal system by analyzing legal problems of business in general and the general insurance industry specifically.
- Explain how brokerage and marketing objectives affect brokerage sales plans, taking into consideration the various components of a firm’s marketing plan.
- Write business communications that are grammatically sound and appropriate in tone given a particular audience and purpose.
- Demonstrate principles of effective verbal communication and presentation skills.
- Analyze the dynamics and trends in global business including social, political and economic factors.
- Identify ethical issues, social responsibility and legal issues affecting Canadian business.
- Demonstrate ethical behaviour and a sense of social responsibility.
Essential Employability Skills:
Graduates of this program are also expected to demonstrate the essential employability skills learning outcomes as outlined on the Ministry of Training, College and Universities website.
- Ontario Secondary School Diploma (OSSD) or equivalent with:
- Grade 12 English: ENG4(C) or ENG4(U)
- Grade 12 Mathematics: (C) or (U) or Grade 11 Mathematics: (U) or (M)
- OR Mature Student Status (age 19 or older) with the above prerequisite course(s), their equivalent(s), or appropriate Academic and Career Entrance (ACE) Certificate program credits (see Academic Upgrading).
The Importance of Learning Skills:
Student success in college requires well developed learning skills (such as being able to work independently, participate in a team, be well–organized, develop good work habits, and show initiative). These skills are as important as prior academic achievement. While it is expected that applicants would have developed these skills through previous education and life experiences, Seneca offers support to assist students with further development of these important skills. Seminars, workshops and tutoring are available at Seneca's Learning Centres.
According to the Insurance Institute of Canada's report "A Demographic Analysis of the P & C Insurance Industry" 25% of the industry's current labour force could retire by 2017 and for management positions this could be as high as 40%. Fast–track your career by equipping yourself with the knowledge and skills essential for positions in the property and casualty insurance industry in Canada. As a graduate of Seneca's Business – Insurance diploma program, you’ll earn up to eight credits toward the CIP designation from the Insurance Institute of Canada and be expertly prepared for a progressive career in claims, underwriting or brokerage.
The core curriculum is anchored on thirteen business courses and three general education electives. This allows for seamless articulation into the BIN program by students with credits earned from other Seneca business programs.
Also integral to the program are the eight insurance courses that are part of the curriculum established by the IIC for the internationally–recognized Chartered Insurance Professional (CIP) accreditation. After one year of work experience at an insurance company or a brokerage firm – following graduation from Seneca – graduates take the two final CIP courses through the IIC to attain their CIP designation.
Business – Insurance students enrol in CIP courses/examinations at an additional cost.
Diploma to Degree... and Beyond
Through transfer agreements and institution partnerships, graduates of this Seneca College program may be eligible for credit at the following post-secondary institution(s):
|Seneca College||• Bachelor of Commerce, International Accounting and Finance|
• Bachelor of Commerce, Financial Services Management
• Bachelor of Commerce, Human Resources Strategy and Technology
• Bachelor of Commerce, Business Management
|Tyndale University College||• Bachelor of Arts, Business Administration, Business Administration - International Development or Business Administration - Co-op|
|Algoma University||• Bachelor of Business Administration|
• Bachelor of Business Administration (Brampton)
|Nipissing University||• Bachelor of Business Administration|
• Bachelor of Commerce
|Wilfrid Laurier University - Brantford Campus||• Honours Bachelor of Arts|
• Honours Bachelor of Business Technology Management
|Athabasca University||• Bachelor of Professional Arts - Governance, Law and Management|
|University Canada West||• Bachelor of Commerce|
|Okanagan College||• Bachelor of Business Administration|
|Royal Roads University||• Bachelor of Commerce in Entrepreneurial Management|
CGA Ontario Learning Centre
Grow your accounting and finance skill set in a space dedicated to supporting and engaging Seneca students, whether at the introductory or advanced levels of their accounting studies. Academic support is offered in partnership with the Certified General Accountants of Ontario. Located in the Newnham Campus Learning Centre.
|Semester 1||Course Name||Hrs/Wk|
|BUS106||Business - Its Nature and Environment||4|
|CIP011||Principles and Practices of Insurance||4|
|ICA001||Introduction to Computers and Applications||2|
|QNM106||Mathematics of Finance||4|
|SSC100||Success Strategies for College||2|
|Semester 2||Course Name||Hrs/Wk|
|CIP012||Insurance on Property||4|
|CIP014||Automobile Insurance Part I||4|
|FCS240||Foundations of Customer Service||3|
|MRK108||Introduction to Marketing||3|
|XXXXXX||General Education Option||3|
|Semester 3||Course Name||Hrs/Wk|
|CIP013||Insurance Against Liability Part I||4|
|EAC394||Effective Business Writing||3|
|SMS202||Microcomputer Business Applications II||3|
|XXXXXX||General Education Option||3|
|Semester 4||Course Name||Hrs/Wk|
|BIN400||Professional Issues in Insurance||2|
|CIP039||Fraud Prevention and Awareness||4|
|CIP110||Essentials of Loss Adjusting||4|
|CIP130||Essential Skills for the Insurance Broker and Agent||4|
|MGS350||Management Studies: Canadian Business Law||4|
|XXXXXX||General Education Option||3|
|Domestic Admissions Advisor:||Judy Chung
Telephone: (416) 491-5050 Ext. 22127
|International Admissions Advisor:||Susan Gao
Telephone: (416) 491-5050 Ext. 22365
|Registration & Records Advisor:|
Telephone: (416) 491-5050 Ext. 22464
|Student Advisor:||Pana Mitusev
Telephone: (416) 491-5050 Ext. 26216
|Program Coordinator:||Jeff Shnier
Telephone: (416) 491-5050 Ext. 26153
|Associate Chair:||Jeff McCarthy
Telephone: (416) 491-5050 Ext. 26722
|Program Chair:||Karen Murkar
Telephone: (416) 491-5050 Ext. 22337