Risk Management and Insurance Class Integrates ChatGPT

Risk management methods covered in the course include self-retention funding, loss prevention, insurance, and hedging contracts. The learning goal is for students to develop the skills necessary to manage enterprise-wide risks within corporations. Approximately 51 students take this course each semester.

AI tools are used in the Enterprise Risk Management course to enhance the learning experience. Dr. Liebenberg explained that he assigns a project using Excel and then offers bonus points when students use ChatGPT to complete the same assignment. The goal is for students to learn how to provide detailed prompts to ChatGPT so it can generate the intended results. He also encourages students to troubleshoot throughout the prompting process to develop effective prompt-engineering skills. It is important for students to continue learning the underlying processes so that, in a professional setting, they can work efficiently and ensure accuracy in their work.

Dr. Liebenberg shares:

“It is my favorite course to teach. Students take everything they’ve learned in prior finance, management, marketing, and risk management and insurance classes and apply that knowledge to a realistic case study. At the end of the semester, they make risk management recommendations to a panel of industry judges. The judges are always impressed by the creativity, confidence, and knowledge of our students.”

Chloe Troxel is a current student taking FIN 542, and she explains her thoughts on Dr. Liebenberg’s teaching style:

“This approach is both encouraging and practical because it helps students learn how to use AI thoughtfully and responsibly. As students enter the workforce, they will inevitably encounter AI, and his teaching style helps them understand not only how to use these tools, but also when and to what extent they should rely on them."

AI tools have an important place in the classroom at Ole Miss. We always strive to maintain relevant curriculum that best prepares students for their professional careers, and that mission continues in this era of rapid growth in AI tools.