Students in New Jersey who are interested in completing classes or programs related to insurance have a number of options available to them. In addition to bachelor's and master's degree programs in fields such as actuarial science and mathematical finance, individual continuing education classes are offered to those working in the insurance industry. In addition to major classes, undergraduate students will complete general education coursework. Applicants to master's degree programs must hold baccalaureate degrees.
According to New Jersey's Department of Banking & Insurance (DBI), licensed insurance agents must complete pre-licensing education and continuing education to maintain licensure. Specific licensure preparation is offered through several private training organizations, but students can prepare for careers in insurance through a degree, certificate or continuing education program.
There are a few schools in the state with insurance-related programs and coursework, including three public universities and one private not-for-profit university. Continue reading for more information about the programs and classes available, as well as about their hosting schools.
Fairleigh Dickinson University - Metropolitan Campus
A private institution located in the suburb of Teaneck, Fairleigh Dickinson University has grown from its origins in 1942 to become the state's biggest private university. Through the Maxwell Becton College of Arts and Sciences, students can pursue a Bachelor of Arts in Mathematics with a concentration in actuarial science. The program includes courses covering business finance and accounting principles, as well as major coursework in computer interpolation and approximation, numerical analysis, statistical probability and operations research. The university is also home to the Insurance Institute, which offers insurance continuing education courses that comply with the state's DBI standards.
New Jersey Institute of Technology
Located in Newark, the New Jersey Institute of Technology opened its doors in 1885 as a school of industrial education. Through the College of Science in Liberal Arts, students can pursue a Bachelor of Science in Mathematical Sciences with a concentration in mathematics of finance and actuarial science. Program coursework covers topics such as mathematical modeling and probability theory, as well as applied numerical methods, stochastic simulation, differential equations, multivariate distributions, regression analysis and time series analysis. Students will also study corporate finance and financial accounting.
Rutgers University - New Brunswick
New Brunswick is home to the main campus of Rutgers University, the state university of New Jersey. Originally chartered in 1766, the school became the state's land grant college in 1864. Through the Rutgers Business School, students can pursue a Bachelor of Science in Business Analytics and Information Technology through a program that includes course topics such as data management, time series modeling, risk modeling and applied multivariate analysis. At the graduate level, students can pursue a Master of Business and Science with a concentration in actuarial sciences. Students will study topics such as probability, life data analysis, regression analysis, actuarial models and forecasting. The Master of Science in Mathematical Finance program covers topics such as multivariate analysis, statistical inference, insurance management and computational finance.
William Paterson University of New Jersey
Founded as a normal school in 1855, William Paterson University is a public institution in the Northern New Jersey suburb of Wayne. Through the College of Business, students can pursue a Bachelor of Science in Financial Planning. The financial planning program introduces students to topics such as employee benefits and retirement, as well as insurance and annuities. Program course topics include financial markets, estate planning and insurance analysis. The insurance analysis course will explore a variety of insurance coverage types, including life, disability and long-term care, as well as issues of liability risk.
School Comparison: At a Glance
|School Name||School Type and Setting||Insurance Programs Offered||Undergraduate Tuition and Fees (2018-2019)*|
|Fairleigh Dickinson University - Metropolitan Campus||4-year, private not-for-profit; large suburb|| Insurance Continuing Education (CE) Classes,
Bachelor of Arts in Mathematics - Actuarial Science
|New Jersey Institute of Technology||4-year, public; large city||Bachelor of Science in Mathematical Science - Mathematics of Finance and Actuarial Science|| $17,338 (in-state)
|Rutgers University - New Brunswick||4-year, public; small city|| Bachelor of Science in Business Analytics and Information Technology,
Master of Business and Science - Actuarial Science,
Master of Science in Mathematical Finance
| Undergraduate: $14,974 (in-state)
Graduate: $19,416 (in-state)
|William Paterson University of New Jersey||4-year, public; large suburb||Bachelor of Science in Financial Planning|| $13,060 (in-state)
Sources: *NCES College Navigator