Master of Science in Banking and Insurance: What is it all about?

The banking and insurance sectors play a significant role in the growth of Zambia’s economy. The two sectors have gone through drastic changes ever since their initiation, owing to the changing demographics and priorities of the people.

So much so that these are now invariably interlinked, and are proving to be instrumental in running a globalized world. They are seamlessly integrated with the traditional and new areas like engineering, life sciences, etc.

Therefore, in such a scenario, a master’s degree program in banking and insurance equips our generation with knowledge of the market, its mechanics, money flow, etc. So, if you’re aspiring to go for a banking and insurance MSc., read further to know about the program, eligibility criteria, admission process, and other details.

Program Overview

Masters of Science in Banking and Insurance is a specialized postgraduate program in the banking and insurance sector. Through this program, the students learn everything ranging from fundamental to specialized concepts like international banking and insurance, investment banking, project and infrastructure, etc.

So students get to study all the managerial concepts and acquire specialized training in the span of two years divided into four semesters.

Master of Science in Banking and Insurance is a specialized dual postgraduate program that focuses mainly on business studies. The students learn advanced, technical and practical knowledge in banking and insurance. They also learn a combination of business management subjects. It is a one-of-a-kind course that aims to build a world-class banking and insurance sector in Zambia.

Students learn the theoretical and practical aspects of banking in domestic, international and insurance sectors. They get prepared to apply their knowledge and skills optimally in the financial world like wealth management, business consulting, etc.

The course aims to give students a basic understanding of the financial and insurance markets, where the students will prove to be efficient financial and insurance planners.

Objectives of A Master’s Degree Program In Banking and Insurance

With a degree of Masters of Science in Banking and Insurance will equip the students with:

• Theoretical and practical knowledge regarding banking and insurance management and its role in Zambia’s economic growth and development.
• Critical thinking abilities to allow the students to address the wide range of business challenges and opportunities in the SADC region.
• Team spirit to manage the multidisciplinary problems that arise in the field.
• Good and effective verbal and written communication skills.
• Required skills for lifelong learning.
• Knowledge to manage modern organizational operations using technology and information systems.

By the end of the course, the students will:

• Know how to apply multidisciplinary knowledge to projects.
• Understand the functions and strategies of the marketing process, consumer behavior, and its contribution to organizational growth.
• Know how to use the latest digital and internet technologies.
• Skills to produce value-oriented products & processes.
• Be aware of the various aspects of the business world like legal, political, environmental, economic, and regulatory.
• Know how to use financial decision models like mergers, international expansion, etc., to decide on profitable projects and manage the organization’s growth.
• Know how to apply resource optimization

Skills Required

With an increase in the demand for Banking and Insurance MSc graduates, there are specific skills that give students an edge over others. Employers are able to distinguish you as an efficient employee in the given field.

These skills include hard work, persuasion ability, self-confidence, helpfulness, outgoing, etc. The master’s course also helps develop and refine these and other crucial skills. The crucial ones that benefit the most in the learning of the course are as follows:

• Analytical thinking
• Business Intelligence
• Data Management
• Predictive analysis
• Financial reporting
• Financial modeling
• Cash flow management

Master of Science in Banking and Insurance: Course Duration

The course is two years long and divided into four semesters. The first two semesters are crucial as they include core courses so that students can have a strong understanding of the fundamental concepts. The last two semesters deal with advanced and in-depth concepts.

Master of Science in Banking and Insurance: Syllabus and Course Description

A general semester-wise syllabus and course description is as follows:

Master of Science in Banking and Insurance: Scope

Banking and Insurance MSc prepares you to manage business issues and challenges of the changing scenarios. It will help you develop and hone the skills required to gain a competitive edge.