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| Insurance Career Course Institutions in India and Abroad |
Insurance Sector In this ever growing field, there are four levels of employees with specific roles i.e. Class I, II, III and IV Administrative Officer (AO) and Assistant Administrative Officer (AAO). They are considered Class I officers. The AAOs have a time -bound promotion. After three years of working as AAOs they can be promoted to Aos Recruitment to the Class level is undertaken at the Central Office level. AAOs are recruited either by promotion from Class II and Class III levels or directly through a competitive examination held at the all India level. Eligibility: Graduation or postgraduation with a minimum of 50% marks. Chartered Accountants and Cost Accountants can also apply. Age limit:21-28 Objective type tests are held to assess intelligence and quickness of response; quantitative aptitude test for quick calculations, general knowledge of basic Maths; Logical reasoning for General knowledge of current politics, events and have two papers. Paper I is objective and Paper II is of the essay type. Tests are followed by interviews The Development Officer is a class II officer who is in charge of the overall development and sale of insurance policies in his jurisdiction. He recruits and trains agents for procurement of new business and servicing of old policies. Vacancies are advertised in leading newspapers. Eligibility: Graduation in any written tests in English and Mathematics, followed by interview. They have to undergo a training of one year Class III workers are assistants, stenographers, typists, machine operators, telephone operators and record clerks. Class III and IV level recruitments are also made by tests in English and Maths, followed by interviews. Eligibility: Preferably graduates, school leavers can also apply. Age limit: 18-25 years Agents are those who sell life insurance policies after completion of training and getting certificates of proficiency. Besides life insurance, they also insure property liability and health. Recruitment is made through advertisements in newspapers, followed by examinations to test personality, language and mathematical ability, followed by interviews Surveyors are those who sell insurance covers. They are technically qualified professionals who assess losses according to their qualifications and experience. For instance, while an automobile engineer is qualified to assess the loss of a motor vehicle, a mechanical engineer can assess an industrial accident. Surveyors have to evaluate, assess, adjust, determine liability, negotiate and report to his office. A surveyor, who is an independent professional, is required to hold a licence and to get which he has to have one of the following: Fellowship or Associateship through exam by the Institute of Insurance Surveyors and Adjusters, Bombay A degree or diploma in Architecture of a recognized university or institution. Fellowship or Associateship of the Institute of Chartered Accountants or Cost and Works Accountants A degree or diploma of a recognised institute of engineering A degree or diploma in naval architecture Selling Insurance Polices As a Career Option For those who like meeting people, have good communication skills, posses convincing power and are willing to work hard, working as an Insurance Agent can prove very lucrative. Eligibility:
There is provision for joining as a salaried employee by getting placement as a development officer, after following the prescribed procedure and qualifying the prescribed tests Life Insurance Corporation of India is engaged in life insurance business in the country and mobilizes people's savings for nation -building activities. It has its central office in Mumbai. Along with divisional officers and branch offices all over the country General Insurance Corporation of India was formed by the Central Government in November 1972. In January 1973 the erstwhile 107 Indian and foreign insurance companies which were operating in the country prior to nationalization, were grouped into four operating companies. They are: 1. National Insurance Company Limited; 2. New Indian Assurance 'Company Limited; 3. Oriental Insurance Company Limited and 4. United India Insurance Company Limited. They compete with one another and underwrite various classes of general insurance business, barring the aviation insurance of national airlines and crop insurance which are handled by the GIC. Institutions
& Courses ALAGAPPA UNIVERSITY, Directorate of Distance Education, Karaikudi630003 offers (i) 1-year P.G. Diploma in Finance & Control. Eligibility: Bachelor's degree. (ii) 2-year M. Com. Insurance Management. Eligibility : Any degree. ALIGARH
MUSLIM UNIVERSITY, Aligarh 202002 (U.P.) (Ph 400994, 400528
Fax 0571-401885/ 400528) offers PG course in Banking & Insurance. ANNAMALAI UNIVERSITY,
PO Annamalai Nagar 608002 (T.N.) offers Part-time Diploma
course in Insurance. ANNAMALAI UNIVERSITY, Directorate of Distance Education, Annamalainagar 608002 (T.N.) (Ph 04144-38987) offers 2-year M. Com in Banking and Insurance Management under open University System. Medium: English and Tamil. Notification/Last date: August. BHARATHIDASAN
UNIVERSITY, Palkalaiperur, Tiruchirappalli 620024 (T.N.)
offers PG Diploma in Actuarial Science. BIRLA INSTITUTE
OF MANAGEMENT TECHNOLOGY, Birla Viday Niketan Building,
Sector-IV, Pushpa Vihar, New Delhi 110017 (Ph 6969250/254, 6565035 Fax
6969250 ) offers one-year full-time and 18- month Part-time PG Diploma
in Insurance and Risk Management (PGDIRM). The Programme has been designed
to cater to the growing manpower needs of the Insurance Industry in view
of the opening up of this vital sector. BISHOP HEBER COLLEGE, Trichirapalli 620017 (Affiliated to Bharathidasan University) offers PG Diploma in Actuarial Science. Eligibility: Bachelor's degree in any discipline. PONDICHERRY UNIVERSITY, Directorate of Distance Education, University Campus, Kalapet, Pondicherry 605014 offers PG Diploma in Insurance Mgmt. UNIVERSITY
OF DELHI, Delhi 110007 (Ph 7257725 2922480 Fax 011-7257049,
7257011 ) offers Insurance as a vocational subject at BA
(Pass) level conducted at the following colleges: Also offers Insurance under
Restructured courses at BA (Pass) conducted at the following colleges: UNIVERSITY OF MADRAS,
Centenary Buildings Chepauk, Triplicane PO, Chennai 600005 offers (i)
Diploma in Insurance. Eligibility: Graduation. (ii) PG Diploma in Actuarial
Science (Two Semesters). UNIVERSITY
OF MADRAS, Institute of correspondence Education, I.C.E.
Building, Chepauk, Madras 600005 offers One year PG Diploma in Insurance
Law: UNIVERSITY
OF PUNE, Ganeshkhind, Pune411007 offers Diploma in Insurance
and Financial Services. Note: Some Professional bodies like the London Institute of Actuaries also offer courses in Actuarial Science. For further information contact: British Council Division, British High Commission 17, Kasturba Gandhi Marg. N.D. 110001. Some Other Institutes Offering Insurance Courses ACTUARIAL SOCIETY OF INDIA, 9,Jiwan Udyog, 3rd Floor, Dr. D. N. Road Mumbai400001 (Ph 022-2074587, 06794) AMITY SCHOOL OF INSURANCE & ACTUARIAL SCIENCE (An Institution of Ritnand Balved Education Foundation (RBEF), New Delhi), RBEF: E-27, Defence Colony, New Delhi 110024 (Ph011-4690630, 4699700 Website: www.amity.edu ) Amity campus: Sector 44, Noida 201303 (Ph 0120-4431843, Tele fax 0120-4431856) offers the following courses
INSURANCE INSTITUTE OF INDIA, Universal Insurance Building. 6th Floor, Sir P.M. Road Mumbai 400001 (Ph 022-2872923, 4722) NATIONAL INSURANC ACADEMY, Belwadi, Burner Roadz, NIAPO. Pune 411045 (Ph 349740,3072) THE INSTITUTE OF INSURANCE SURVEYORS & ADJUSTERS, General Insurance Building 3rd Floor, D N Road, Fort, Mumbai 400001 (Ph 022-0276329 |
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1-year full time Post Graduate Diploma in Insurance Management