Study program: Insurance and risk management

  • Gain knowledge of insurance principles, risk assessment and risk management strategies through our specialized curriculum, designed to meet industry requirements

  • Develop the skills needed to function in the complex world of insurance, risk analysis and financial planning and become a trusted advisor in protecting individuals and businesses from potential risks

  • Learn from industry experts and professionals who will share insights and real-world experiences, providing you with a well-rounded understanding of insurance and risk management

  • Explore different career opportunities in the insurance industry, ranging from insurance companies to consulting and insurance brokerage services, as our program equips you with a variety of skills and knowledge

Academic title:

  • Bachelor in Insurance
    and Risk Management
  • Bachelor in Insurance and Risk Management


  • 4 years
  • 240 ECTS

Head of Department

Detailed study program

Semester 1

Code Name Mandatory / Elective ECTS
OMR101 Business Mathematics M 8
OMR102 Insurance law M 8
OMR103 Economy M 7
OMR104 Enterprise Economics M 7

Semester 2

Code Name Mandatory / Elective ECTS
OMR201 Principles of risk management M 8
OMR202 Statistics M 8
OMR203 Fundamentals of Management M 8
OMR2XX Elective E 6


Basics of law

Business Informatics 

Safety in tourism

Economics of Tourism and Hospitality

Psychology in tourism and hospitality

Semester 3

Code Name Mandatory / Elective ECTS
OMR301 Introduction to insurance M 8
OMR302 Accounting M 8
OMR303 Financial markets and institutions M 7
OMR304 Foreign language 1 M 7

Semester 4

Code Name Mandatory / Elective ECTS
OMR401 International trade M 7
OMR402 Marketing M 7
OMR403 Life insurance M 7
OMR4XX Elective E 6
  Practical work M 3

Human resource management in the service sector

Business psychology

Banking operations

Principles of public administration

Promotional activities

Fiscal system

Communications in tourism


Semester 5

Code Name Mandatory / Elective ECTS
OMR5XX Elective E 6
OMR5XX Elective E 6
OMR5XX Elective E 6
OMR5XX Elective E 6
OMR5XX Elective E 6

Insurance in tourism and hospitality

Investment management

Business communication

Information and communication technologies

Economics of European Integrations

Agreements in international trade

Business Operations Research

Management information systems

Payment systems

Management accounting

Sales channels

Marketing research

Strategies of integrated market communication

Strategically  management

Protection of cultural heritage

Organizing congresses and meetings

Constitutional law


Sociology of tourism

Agency work

Sustainable development of tourism

Tourist destination

Restaurant management

English language 2

German language 2

French language 2

Semester 6

Code Name Mandatory / Elective ECTS
OMR601 Actuary M 7
OMR602 Financial management M 7

Institutions of social security and pension system

M 7
OMR6XX Elective E 6
  Practical work M 3


Transport and insurance in international trade

International business

Fixed Income Securities

International Management

Management of food production in catering

Semester 7

Code Name Mandatory / Elective ECTS
OMR701 Non-life insurance M 8
OMR702 Reinsurance M 8
OMR703 Insurance operations M 8
OMR7XX Elective E 6

Economy of Macedonia

Business planning

Organizational learning 

Logistics systems

Crime and detection

Corporate financial management 

Administrative law

Business Law

English language 3

German language 3

French language 3

Semester 8

Code Name Mandatory / Elective ECTS

Risk analysis in

the insurance

M 6
OMR8XX Elective E 6
OMR8XX Elective E 6
OMR8XX Elective E 6
OMR802 Graduate thesis M 6

Processing and liquidation of damage

Insurance in agriculture

Control and audit

Knowledge management

Techniques of measuring the effectiveness of propaganda

Public relations

International economic relations

Trade logistics

Obligatory right

Commercial law

Development economics

Tourism development policy

Social pathology

English language 4

German language 4

French language 4

Career opportunities

With our Bachelor of Insurance and Risk Management, you’ll open up a world of exciting career opportunities. There are four key areas where your degree can lead you:

  • Insurance Sales: Graduates can pursue careers in insurance sales, risk assessment and determining the terms of insurance policies. They analyze data, assess potential risks and make informed decisions to protect individuals or businesses from financial loss.
  • Risk Management: With a strong foundation in risk assessment strategies and training, graduates can develop as risk managers. They identify potential risks, develop risk management plans and implement strategies to minimize or transfer risks within organizations, ensuring business continuity and protection.
  • Claims Assessment and Mediation: Graduates can become claims mediators, working for insurance companies, to investigate and assess claims submitted. They assess the validity of claims, negotiate compensation and ensure fair and accurate resolution of cases.
  • Brokerage: Graduates can become insurance brokers, who act as intermediaries between customers and insurance companies. They analyze clients’ insurance needs, provide expert advice and recommend appropriate insurance products and policies, helping individuals and businesses make informed decisions about protecting their assets and managing risks.

These are just a few of the exciting career paths that await you with a degree in Insurance and Risk Management. The possibilities are endless, and your degree will open the doors to a fulfilling professional journey.