According to a Wall Street Journal article, there’s been a dramatic increase in the number of executives returning to classrooms to 'brush up on traditional management skills and to learn new ones.' In the risk management and insurance industries, this is nothing new. Whether it’s a required continuing-education course, or a CPCU class, risk and insurance professionals have always pursued higher education.
For years, classroom courses that prepare students for national exams have been available throughout the nation. Some students, though, don’t have the time or the patience to sit through a weekly three-hour course for 18 weeks. That’s why the Institutes, Risk and Insurance Management Society (RIMS), and other organizations have created online exam-preparation courses that offer risk and insurance professionals more educational options than ever before.
RIMS’ ONLINE ASSOCIATE IN RISK MANAGEMENT (ARM) COURSES
I was intrigued when I heard that RIMS was offering online exam-preparation courses for the ARM series. My classroom experience with the ARM 54 course was less than engaging, as I spent the requisite instructional time confined in a small classroom listening to an instructor ramble on about many topics unrelated to risk management.
I passed the national exam for ARM 54, but wanted to self-study for ARM 55 and ARM 56. Knowing my tendency to procrastinate, I looked for a course with structure to help me avoid cramming the night before exams. RIMS’ new online course for ARM 55 was just the ticket. I enrolled online, paid the fee, and within 24 hours had a user name and password to enter the Web site. RIMS’ easily navigated Web site contains all the needed study information. Online courses are divided into four sections:
- Schedule: assignment and exam schedules
- Media Center: course materials and exams
- Discussions: students’ bulletin board forum for posting thoughts and answering instructors’ questions
- Profiles: instructor and student profiles
RIMS’ online learning environment is somewhere between the two extremes of traditional classroom learning and self-study. Instead of dominating the learning environment with a lecture, the instructor serves as a facilitator, laying out the coursework weekly and leaving it up to the students to download the material, study, and take the quizzes. Students must be highly motivated.
The success of RIMS’ online learning environment relies on active student participation. When class began, the discussion area was very active. The instructor posed questions and most students followed up with their thoughts. It was interesting to finish an assignment, jump online, and instantly read other students’ solutions. But after a few weeks, the number of postings dropped and the instructor had to send weekly e-mails to solicit participation. I sometimes waited days before receiving a response from the instructor or other students to my postings in the discussion area. My interest in the course began to wane and I visited the Web site less and less.
When it was time for the national exam the online classroom allowed me to go back and review discussions and assignments. I studied the course materials and sent e-mails to the instructor asking for help in certain areas. With his help, and a review of materials on the Web site, I passed the national exam.
Overall, RIMS’ online learning experience served its purpose. Students who take online courses must remember that it’s up to them to stay current with the assignments and discussions. Aside from the ARM series, RIMS offers other courses, including Fellow in Risk Management test-preparation courses, general risk courses such as Managing Business Risk and Small Business Risk Management, and skill-enhancement courses which focus on improving basic business skills.
CPCU ONLINE SERIES
The American Institute for CPCU recently teamed up with Blackboard.com, an online learning provider, to create an e-learning environment that’s very similar to RIMS’ online educational program. They divide the 'classroom' into three main sections that lead students through their daily activities: announcements, calendar, and tasks.
Claire Reiss, director of the Grants and Research Program at the Public Entity Research Institute, recently completed the online course for CPCU 8-Accounting and Finance, possibly one of the most difficult CPCU courses. As a working mother of two, Reiss appreciated that the course helped prepare her for the exam in a way that fit her schedule. Instead of sacrificing one night per week for a classroom course, Reiss studied online whenever and as often as she liked from her home.
The best part of the course for Reiss was having someone to turn to with questions: 'The teacher was very helpful and responsive. She provided thoughtful responses to our answers to assigned questions, quizzes, and the practice final. She also provided lecture notes that highlighted the main points of each assignment and gave us some advice about how to focus our efforts.' Overall, Reiss enjoyed the course and says it adequately prepared her for the national exam, which she passed.
THE FUTURE OF ONLINE EDUCATION
Claire Reiss and I had similar experiences and outcomes in our online learning adventures. Both RIMS and CPCU provided ways to study on our own time and at our own pace; yet we both noticed that the interactivity of the programs was virtually nonexistent. The format has potential for discussion among students, but lacks the urgency and leadership of a traditional classroom environment that promotes expression of ideas.
Creating the feel of a traditional learning environment online is nearly impossible because it requires more bandwidth (very rapid connections) than most people currently have to deliver the audio, video, and animation required for an interactive educational experience.
Nevertheless, one online education company appears to be ahead of the curve. Corpedia, a Phoenix-based e-learning company specializing in Web based business management and compliance education, uses streaming audio and creative animation to teach courses. I recently completed a one-hour course titled 'Recognizing and Preventing Employment Discrimination,' a look at the laws, history, causes, and other issues surrounding employment discrimination. I was thoroughly impressed with the course’s in-depth content and streamlined visual presentation.
Corpedia presents the material with audio and visual cues that make it interesting and easy to follow. Exams test your knowledge throughout the course. The learning experience is somewhere between watching a training video and sitting through a live presentation. Students can rewind, fast-forward, or pause the lesson at any time. In addition, users can completely stop the course and return later. The course remembers where you left off. The programs also have some nice features for managers who require employees to take the courses. The employer can monitor each employee’s performance and progress, and keep online records of who took which courses.
Although Corpedia’s class catalog focuses mostly on general business management training, many of the topics apply to risk management professionals, particularly such sections as safety, health, legal compliance, and workplace issues.
CONCLUSION
Online learning is in its infancy and far from replicating the interactive experience of traditional classrooms. Nevertheless, students taking online courses benefit from the ability to study anywhere at anytime. As with traditional classroom environments, students must be highly motivated to learn the material, stay abreast of the latest assignments, and join in discussion groups to reap the full benefits of learning online.