Business - Insurance

If the idea of helping people find solutions that protect themselves and the ones they care for appeals to you, then this two-year diploma program is for you. Our insurance courses will teach you the fundamentals of insurance and you’ll study underwriting, claims investigation, risk analysis and contracts which will prepare you for a range of entry to junior-level career paths in this growing industry.

Insurance courses that prepare you for a successful career - 2022/2023

  • Gain the fundamentals in our insurance courses and be ready for an in-demand career – in fact, many of our students secure jobs before they graduate!
  • Learn from industry professionals by examining automobile, property and liability insurance
  • Attend industry events and conferences offered by the Insurance Brokers Association of Ontario and the Ontario Insurance Adjusters Association and network with future colleagues and potential employers
  • Obtain membership in Gamma lota Sigma, an international, professional fraternity for insurance, risk management and actuarial science students - Fanshawe is the only college in Canada to offer this
  • Graduate ready to complete nine of ten credits toward your Chartered Insurance Professionals (CIP) designation offered by the Insurance Institute of Canada
  • Go beyond the fundamentals of insurance and complement your diploma with one of Fanshawe's post-graduate programs (optional) 
  • Pursue a degree pathway (optional) with one of Fanshawe’s university partners

 

A co-op version of this program is also available.

 

Career Information

Graduates of Fanshawe’s Business – Insurance program are able to pursue a career in the property and casualty insurance industry, including claims adjustment, underwriting, brokerage, agency or direct writers, loss control and risk management. Graduates are prepared to start in a variety of entry-level to junior-level positions, including customer service representative, underwriter, claims adjuster, loss control specialist, risk manager, appraiser, broker or agent. 

Did you know Fanshawe consistently ranks high in graduate employment rates among large colleges in Ontario? 

Here are some examples of career opportunities for graduates of Fanshawe’s Business – Insurance program:

Underwriting Assistant

Use your great analytical skills to work towards meeting business targets and objectives while maintaining positive broker relations and superior service. 

Personal Lines Claims Assistant 

Assist adjusters by updating client databases, presenting summaries of open claims and completing specialized claims projects as required. 

Legal Services Coordinator 

Review legal documents and contracts, provide advice and strategic direction to staff, execute agreements in collaboration with senior personnel, review contract terms and draft and issue legal claims and reports.

Learning Outcomes

The graduate has reliably demonstrated the ability to

1. Recognize the economic and social importance of insurance.

2. Demonstrate an understanding of the organization and structure of both the General and Life Insurance Companies.

3. Analyze the coverage provided by the various policies currently available through insurance companies.

4. Follow the proper principles and procedures used in adjusting losses and settling claims and to complete and explain the necessity of the documentation used.

5. Recognize and evaluate the various factors affecting the acceptance and underwriting of any insurance risk.

6. Enter and retrieve client information utilizing computer and various word processing and spread sheet packaged programs.

7. Understand the underlying role of accounting as an information system for planning and controlling business operations.

8. Develop an awareness of human relations in the work place and apply effective interpersonal skills.

9. Understand basic economic principles and how they relate to business.

10.Demonstrate an understanding of the legal system and legislation affecting business in general and the insurance industry specifically.

11. Understand and apply the marketing techniques used by insurance companies, brokers and agents.

12. Demonstrate effective oral and written communication skills.

13. Appreciate the social, political and cultural aspects of our society.

14.Appreciate the importance of business and corporate responsibility.

 

Program Availability

Canadian Students

Start Dates
Locations
Availability

Full Time Offerings

2022 January
London
Open
2022 September
London
Open
2023 January
London
Open

International Students

Start Dates
Locations
Availability

Full Time Offerings

2022 September
London
Open
2023 January
London
Open

Program Details

Program Code
BIN3

Business Insurance Program Coordinator

Cyndi Hornby, C.I.P., CRM

Delivery
Day Time
Full-Time
Credential
Ontario College Diploma
Duration
60 weeks

Admission Requirements

OSSD with courses from the College (C), University (U),
University/College (M), or Open (O) stream WITH:
- Any Grade 12 English (C) or (U)
- Mathematics* ONE OF:
       - Any Grade 12 Mathematics (C) or (U)
       - Any Grade 11 Mathematics (C), (U), or (M)
          (Note: a minimum final grade of 60 required for any Grade 11 Mathematics course)
OR
Academic and Career Entrance Certificate (ACE)
OR
Ontario High School Equivalency Certificate (GED) AND: 
- Mathematics* ONE OF: 
       - Any Grade 12 Mathematics (C) or (U)
       - Any Grade 11 Mathematics (C), (U), or (M)
          (Note: a minimum final grade of 60 required for any Grade 11 Mathematics course)
OR
Mature Applicant with standing in the required courses and grade stated above

Note:

  • *Applicants who lack the required  Mathematics may still gain eligibility for admission by completing appropriate prior upgrading.
English Language Requirements

English Language Requirements

Applicants whose first language is not English will be required to demonstrate proficiency in English by one of the following methods:

  • A Grade 12 College Stream or University Stream English credit from an Ontario Secondary School, or equivalent, depending on the program's Admission Requirements
  • Test of English as a Foreign Language (TOEFL) test with a minimum score of 79 for the Internet-based test (iBT), with test results within the last two years
  • International English Language Testing System (IELTS) Academic test with an overall score of 6.0 with no score less than 5.5 in any of the four bands, with test results within the last two years. SDS Program Requirements. 
  • Canadian Academic English Language (CAEL) test with an overall score of 60 with no score less than 50 in any of the four bands, with test results within the last two years
  • Pearson Test of English Academic (PTE) with a minimum score of 53, with test results within the last two years
  • A Cambridge English Test (FCE/CAE/CPE) with an overall score on the Cambridge English Scale of 169 with no language skill less than 162, with test results within the last two years
  • An English Language Evaluation (ELE) at Fanshawe College with a minimum score of 70% in all sections of the test, with test results within the last two years
  • Fanshawe College ESL4/GAP5 students: Minimum grade of 80% in ESL4/GAP5 Level 8, 75% in ESL4/GAP5 Level 9, or 70% in ESL4/GAP5 Level 10
Recommended Academic Preparation

Recommended Academic Preparation

  • Any Grade 11 or Grade 12 Business Studies (C), (M), or (O)
  • Grade 12 Business and Technological Communication (O)
  • Academic and Career Entrance Certificate (ACE): Business Mathematics course and Computer Skills course
  • Applicants who do not meet the stated admission requirements for the Business - Insurance program should apply to the one-year Business Fundamentals Ontario College Certificate program, Program Code BFS2.  The Business Fundamentals program is recommended for students who require or desire academic upgrading, particularly in Mathematics and English, before pursuing a business diploma program.  Students who successfully complete the Business Fundamentals program may be eligible for admission to Level 2 of any two-year business diploma program at Fanshawe College.
Recommended Personal Preparation

Recommended Personal Preparation

  • Exposure to the business world through part-time employment or business courses
  • Exposure to Microsoft Office software, or its equivalent
Advanced Standing

Advanced Standing

  • Applicants may apply for advanced standing on the basis of previous academic achievement at another institution and/or Prior Learning Assessment and Recognition (PLAR).  Advanced standing qualifies the applicant for direct entry to a second or higher level of the program. 
Applicant Selection Criteria

Applicant Selection Criteria

Where the number of eligible applicants exceeds the available spaces in the program, the Applicant Selection Criteria will be:
  1. Preference for Permanent Residents of Ontario
  2. Receipt of Application by February 1st (After this date, Fanshawe College will consider applicants on a first-come, first-served basis until the program is full)
  3. Achievement in the Admission Requirements

Tuition Summary

London

Canadian Costs
$6,738.78
Total Cost of Program
International Costs
$30,097.81
Total Cost of Program

*Total program costs are approximate, subject to change and do not include the health and dental plan fee, bus pass fee or program general expenses.

 

Courses

Year 1
Gen Ed - Take a 3 credit General Education elective course
Take all of the following Mandatory Courses:

Group 1
ACCT-1100Principles of Accounting 13
This course introduces the student to the Principles of Accounting, and includes an exploration of the underlying concepts that guide the preparation of accounts for individuals and organizations. It is designed to teach the student, regardless of program destination, an essential life skill - an understanding of Net Worth, and its importance to business success and the financial well being of the individual.
WRIT-1032Reason & Writing Business 13
This course will introduce business students to essential principles of reading, writing, and reasoning at the postsecondary level. Students will identify, summarize, analyze, and evaluate multiple short readings and write persuasive response essays to develop their vocabulary, comprehension, grammar, and critical thinking.
MKTG-1012Principles of Marketing 13
This course is designed to provide an overview of the decisions that face Marketers in today's fast-paced and competitive business environment. Students will learn that marketing is not only advertising but a broad set of activities designed to satisfy consumer needs and wants. Students examine the information Marketers require for effective decision-making and learn the basic elements of the marketing planning process.
MATH-1052Business Math3
This course provides a review of basic arithmetic and algebra as well as providing students with mathematical tools and concepts needed for other college courses and in future employment. This course is to prepare students for later courses in Marketing, Business, Financial Planning, Accounting, Purchasing and Insurance.
BUSI-1060Strategies for Success1
This course presents and helps to develop some of the skills required to achieve academic and career success. Areas of focus include college resources, study skills, time management, academic integrity, emotional self-awareness and social skills development. Additionally, emphasis is placed on career readiness and preparation.
BUSI-1005Introduction to Business Processes3
This course explores the various functional areas of business in Canada and demonstrates the interrelationship among these areas. Students are introduced to many concepts, including major business trends, the role of government in business, marketing, operations, employee-management issues, financial resources management, business ethics and social responsibility.
INSR-1001Fundamentals of Insurance4
The objective of this course is to introduce students to the principles and practice of insurance by showing the multi-faceted nature of the insurance business, dealing with risk and how insurance responds to it, looking briefly at some of the law that deals with insurance, introducing many of the terms and practices commonly encountered in the business, and outlining the basic policy coverages for automobile and property insurance.
FINA-1004Finance 13
A general education course developed to provide students with the fundamental financial life skills so that they can make educated financial management decisions over the course of their lifetime. The emphasis is on those financial life skills that are of particular relevance in the early stages of the financial management life cycle.
ECON-1019Contemporary Issues in Economics3
This is a survey course which introduces students to the structure and function of our economic system. The course will give students a basic understanding of the principles of both micro and macroeconomic activity through modeling and analysis. Students will examine the role that households (consumers), industry (producers) and governments play in a modern economic system and how the decisions by these different levels affect all of our lives. The course is structured to provide insight through lectures, discussions and current events.
INSR-3021Property Insurance4
This course explores personal property insurance in Canada. Students will develop an understanding of the legislation and regulations that govern property insurance. Perils, exclusions, extensions and endorsements will be discussed in the context of the Homeowner's forms. Other types of property insurance will also be explained. Students will be introduced to Commercial property insurance and the application of property insurance in the context of underwriting and claims.
View all courses

Contact/Questions