Hawkeyes gain hands on learning with UI Risk Management
One of the best ways for students to learn about claims management is to directly get involved, and fortunately University of Iowa students are getting that opportunity right on campus. “The partnership between the Vaughan Institute and the Department of Risk Management, Insurance, and Loss Prevention has allowed us to fill this gap in the curriculum,” says Thomas Berry-Stoelze, associate professor and faculty director of the Vaugh Institute.
Through collaboration and relationship building, Risk Management has been able to provide hands-on learning opportunities for two courses offered by Tippie College of Business at the University of Iowa. In the FIN:4460 Insurer Operation and Captive Management course, students get a hands-on experience with managing claims. In the FIN:4410 Enterprise Risk Management course students work on projects focusing on different aspects of the risk management process.
“This partnership is helping enrich student’s learning by providing real world case studies and risk management and insurance (RMI) industry experience,” says Emily Robnett, risk management manager. “The students bring their creativity and research to the table, and after each semester we are able to pass along helpful information to the participating departments. It’s really benefitting the whole university community.”
The spark for this collaboration started in 2019 when Berry-Stoelze contacted Risk Management. Since then, students have been able to explore topics in claims handling and risk management – including projects exploring considerations for the opening of the UI Stanley Museum of Art.
"The students’ suggestions for how to mitigate those risks were smart. It was wonderful to see students engage with the museum in this way."
“In our new location, we will face specific risks. The students’ suggestions for how to mitigate those risks were smart,” says Lauren Lessing, director of the UI Stanley Museum of Art. “It was wonderful to see students engage with the museum in this way. The model this class presents of students actively learning by participating in the work of the university is thrilling.”
“All of these projects improve students’ ability to solve real-world business problems and communicate their solutions in a professional way. These skills will serve them well for their future careers,” said Berry-Stoelze.