money matters for students

Insurance

Course overview

Insurance is simply a promise of compensation or reimbursement paid to an individual, people or a company in the case of loss caused due to many reasons like death, fire, accident etc. Insurance is among one of the most favored short-term courses sought after by working professionals who prefer distance education institutes in India for completing their insurance diplomas. For a career in Insurance there are courses ranging from certificate courses to 2 year post graduate courses.

Why an Insurance Course?

Initially, only Government organizations ruled the Indian market, but now many private international companies have started investing in this industry. This has led to an increased demand for trained professionals. Trained personnel in this field can get absorbed as an Insurance agent, broker, Insurance surveyor, Actuary or officer in this sector.

What can an Insurance Course do for your career?

Job opportunities in insurance are varied. Major Government companies operating in this field in India are Life Insurance Corporation of India, General Life Insurance and Postal Life Insurance. Depending on the qualification, one can be recruited in Administration, Development, Accounts or Investment of an insurance company. Multinational insurance companies hire trained personnel in various roles mentioned above offering higher pay packages in countries like U.K.

Colleges Offering the Course

  • Institute of Insurance and Risk Management (IIRM), India
  • Actuarial Institute of India, Mumbai
  • Institute of Certified Risk and Insurance Managers, Hyderabad
  • University of Delhi, Delhi
  • The College of Vocational Studies (University of Delhi), Sheikh Sarai, New Delhi
  • Academy of Insurance Management, Asia Pacific Institute of Management, New Delhi
  • Birla Institute of Management Technology, New Delhi
  • Goa University, Goa
  • Kurukshetra University, Kurukshetra
  • Department of Humanities and Social Sciences, (IIT), Mumbai
  • University of Bombay, Mumbai
  • University of Pune, Pune
  • University of Chennai, Centenary Building, Chennai

Course Content

Course content in a typical insurance course would cover the following

  • Introduction to Insurance
  • Fundamentals of General Insurance
  • Insurance Documents
  • Theory and Practice of rating
  • Legislative and Regulatory matters
  • Non-Life Insurance (Fire, Marine, Motor, Health, Personal Accident etc)

Course Fee

Course fee for PG Diploma courses on insurance offered by IIRM is Rs 225000 (Scholarships can be availed by best performing students). Fee for certificate courses is around Rs 4000.

Application process

The IIRM admits graduates, post graduates with minimum 50% marks below 30 years of age. Final year students may also apply. For most certificate courses the eligibility is clearing 12th.

Is it suitable for me?

A course in insurance is recommended for those who enjoy working with numbers and statistics, such people can focus on courses with actuarial science. Actuaries are well paid. If you like dealing with people then you could focus on this course to become an insurance agent or broker.

Fintotal Insight

If you are keen on making a career in the insurance industry and are a graduate consider doing a PG Diploma in insurance from IIRM. You might even get scholarship if you perform well in the course. 

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