New Challenges to Broadening Undergraduate Risk Management & Insurance Education in Japan: Effective Use of Seminar Classes on a Nationwide Scale

Abstract

The purpose of this paper is to introduce and explain the motivation behind the Risk and Insurance Seminar (RIS) and the design of its educational courses. Furthermore, we will describe contacts with people in industry through the RIS and the expected outcomes for participating students. Since the 1990s, the risk management and insurance (RMI) education system for undergraduates has faced a crisis in Japan. To find a way out of the crisis, dozens of universities have collectively embarked on a course of action. One of the most important actions is the RIS, which is a joint educational program to enhance students’ abilities through seminar classes at the participating universities. The key issue is how a major/minor in RMI can have significant appeal for both students and businesses. The most important thing is for academics and members of industry in the RMI education field to know each other. The RIS can play an important role in facilitating their relationships.

Keywords: risk management, insurance, education, program building, Japan