Diploma in Risk and Insurance Management
There is a path for everyone to a stimulating, stable, and sustainable life-style that offers endless growth opportunities and that allows to make a difference for the lives of individuals, families, and societies. Pursue your DRIM (Diploma in Risk and Insurance Management)!
Why DRIM?
A glimpse into the 2025 GTA job market reveals that there are more job opportunities in Risk Management & Insurance (RMI) than in Accounting, Actuarial Science, Economics, and Statistics all together. In response to the urgent demand for talent in the RMI industry, DRIM entices learners from any discipline into the fascinating and rewarding career paths and prepare the risk leaders of tomorrow.
"If insurance or other risk-sharing mechanisms didn't exist, global and local activity would quickly grind to a halt, which would negatively affect all of us in many ways."
Ron Davis (pictured), EVP Zurich Insurance (retired 1/1/2025) and RISC Honorary Board Director
What is DRIM?
DRIM is a one-year long program that strikes a balance between theory and applications, quantitative and qualitative methods, and competition and team-work. DRIM furnishes you with the skills needed to solve critical business and social challenges through rewarding, fulfilling, and impactful careers in the Risk Management & Insurance industry.
How it works?
Principles of Risk Management and Insurance course
Course Director: Risk Executives.
The DRIM program starts with a unique course that is inspired and taught by RMI top Executives. The course combines strong academic curriculum with networking opportunities, professional development workshops, and hands-on components through the use of our one-of-a-kind business simulation platform (RiLeD Challenge).
Eight E-modules
48 hours of synchronous self-study e-learning mixed with professional development, individual and team work.
DRIM continues with 8 e-modules developed by the RMI Industry that are delivered remotely as synchronous learning components. Over the course of 16 weeks, and for approximately 3 working hours per week, DRIM trainees delve into various classical and modern challenges facing the RMI industry today and participate in RISC-sponsored and industry-led events. A case competition, judged by a panel of RISC Principal Scholars and RMI Industry leaders concludes this stage of the DRIM program.
1. RMI Ecosystem In and Out
This module begins by exploring the entities that make up the RMI ecosystem, who they are, and what value they bring to the industry. It then looks at key risk-related trends and disruptive forces facing the future of the industry.
2. Advising: Proven Practices of Leading Advisors
This module covers such topics as the importance of advice and advice channels, professional insights into providing sound financial advice, building, and marketing a business as a financial advisor, and steps to client engagement.
3. Underwriting and Risk Engineering
Insurance provides peace of mind by reducing financial uncertainty. To ensure that insurance works, it is important that risks are properly reviewed and priced. That is where the underwriter comes in, and this is what this module is about.
4. Claims: The Raison d’Etre of Insurance
An insurance policy creates an expectation of future service, and the insurer’s reputation can be enhanced or harmed throughout the claim process. This module explores many of the most common types of insurance claims.
5. Property and Liability Insurance
This module dives deeper into the world of Property & Casualty (P&C) insurance and introduces liability insurance. The module finishes by viewing the P&C and liability insurance sectors through a legal lens, with additional general industry-related legal commentary.
6. Life and Health: Is There a Price to a Human’s Life?
This module explains how insurers determine the price of life insurance, starting with an overview of life risk modelling, then going into pricing a human life, and finishing with considerations used in life insurance risk management.
7. Data: Ethics, Analytics, and Visualization
This module starts by exploring the principles and value of data ethics, continues with methods for analyzing and interpreting data, and concludes with how to visualize and make data insightful using data visualization tools, including those in Python.
8. RMI for Social Good and Sustainability
This module demonstrates why the RMI industry is a primary-level contributor to achieving the Sustainable Development Goals agenda of the United Nations and what role microinsurance plays in that agenda.
Hybrid Academia-Industry Internships via Virtual Engagement
Paid work experience
The DRIM program culminates with a paid work-integrated learning term through the HAIVE program. During the work term, DRIM trainees continue to benefit from enriching professional events and have the opportunity to receive numerous awards including the "Best Presentation" award at the end of the program.
DRIM Developing and Funding Partners
We are deeply grateful to our Partners and Funders. The DRIM program has been co-created with the RMI Industry for that Industry to keep thriving.
in funding from the Spencer Educational Foundation, CEWIL Canada's iHub, RMI Industry, and York University.
students coming from Bachelor's and Master's programs in Natural, Social, Formal, and Applied Sciences, including Business, Computer Science, Economics, Law, to name a few.
DRIM has been developed in partnership with Canada Life, Ernst and Young, Milliman, Sun Life FInancial, Wawanesa Insurance, and Zurich Insurance.
"The content of the DRIM program is well developed by RMI Industry professionals. The course of the program greatly enhanced my understanding of the insurance industry and what RMI companies look for. This program is of a great benefit to students like myself, who want to pursue their career in the RMI field. The program did help me start the career as I always dreamt to. Strongly recommend it!"
Janice Xuping Zhang (pictured), DRIM Trainee