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:
Of late the Insurance Regulatory and Development Authority (IRDA) has introduced new guidelines for recruitment. Now, one has to be at least twelfth class pass (in case of rural areas class X pass). One had to pass an examination prescribed by the IRDA and undergo a training at least for four weeks. This training is provided by the concerned company without any charges.

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.