By: Erika Hodges
Originally Published on December 6, 2023
UCF Aims to Meet Growing Need for Talent in Insurance Industry
ORLANDO, Fla. – The University of Central Florida will launch an MBA with a Risk Management & Insurance emphasis next fall in Daytona Beach to address a growing need for talent in the insurance industry. The U.S. Bureau of Labor Statistics has forecasted that over the next 15 years, 50% of the current insurance industry workforce will retire, leaving more than 400,000 positions unfilled.
“The insurance industry is expected to face many challenges in the next decade such as inflation, interest rate volatility, a global economic recession, climate change, pressure on traditional valuation models, and the emergence of InsurTech. Plus, the labor market is tight and demands on the workforce continue to evolve,” said Ronald F. Piccolo, Ph.D., Executive Director of UCF’s new Risk Management & Insurance Education Program, as well as Associate Dean for Strategic Initiatives in the College of Business and Special Assistant to the Provost for Volusia County. “We hope UCF can play its part in supporting such a critical industry for our state.”
Piccolo will lead UCF’s expansion in Volusia County, the epicenter of Florida’s insurance industry. He will be responsible for initiating educational programming and encouraging the development of a national hub in InsurTech. The College of Business is no stranger to launching innovative programs. In 2021, UCF created the first Master of Science in FinTech in Florida.
“Ron is the perfect person to build the strong corporate partnerships necessary to build a successful Risk Management and Insurance program in Daytona,” said Paul Jarley, Dean of UCF’s College of Business. “He has an uncommon ability to bring groups together in ways that lead to a shared vision that drives success.”
The Risk Management & Insurance offering is designed for working professionals who wish to pursue an accredited MBA program while continuing their careers. The program will be taught in a part-time, cohort format on Saturdays at UCF’s Daytona campus. Students will take 10 core MBA courses plus three specialty courses focused on risk management, insurance and data analysis, including two new courses: The Fundamentals of Risk Management & Insurance, and Property/Casualty Insurance Contract Analysis. Applications are being accepted now and classes are expected to start in Fall 2024. Go to business.ucf.edu to learn more and to apply.
About UCF College of Business
Established in 1968, the UCF College of Business offers degrees at the bachelor’s, master’s, doctoral and executive levels. All programs, as well as the Kenneth G. Dixon School of Accounting are accredited by AACSB International – the Association to Advance Collegiate Schools of Business. The college provides high-quality academic programs designed to give students a competitive advantage in the world of business now and in the future. The college promotes a unique culture of engagement, risk taking, cross-disciplinary collaboration and data-driven decision making in an effort to ensure students are well prepared to enter a dynamic marketplace. Learn more at business.ucf.edu.