Insurance Institute of India (I.I.I.) Courses

Insurance Institute gives the candidates a strong grounding in the fundamentals of marketing and insurance and also specific applications of marketing for the unpredictable reach in the future.

Board

Insurance Institute of India (I.I.I.)

The insurance industry is wide and diverse as made up of different types of players operating in different spaces for the improvement of employment opportunities in the insurance sector. Insurance is important in a life as it consists of insurance policy is must in everyone’s life. This career is very much challenging, requires a hardwork  and strong skills to persevere in insurance as a career.

Established in 1955 as the Federation of Insurance Institutes (now I.I.I.), in promoting insurance education and training across India. Institute credentials are respected by both the regulator and the industry. I.I.I. is closely associated with all segments of the insurance industry, including the Insurance Regulatory Authority of India, public and private sector insurance companies, in its capacity as a leading education and training provider. 

The ultimate use of this course In Insurance Industry is

  • To provide a different pathway for the candidates who are interested in developing a career in the Insurance Sector
  • Insurance Institute gives the candidates a strong grounding in the fundamentals of marketing and insurance and also specific applications of marketing for the unpredictable reach in the future.

 

General Eligibility for Insurance Exam

Minimum educational qualification to join insurance sector

  • 10 + 2 or equivalent.
  • You need to obtain License to work in this sector for which you need to appear in an examination conducted by Insurance Institute of India.

Courses Offered:

  • Certificate Course on Foundation of Casualty Actuarial Science
  • Certificate Program in Advanced Insurance Marketing (CPAIM)
  • Surveyor’s Examination
  • Licentiate, Associateship and Fellowship Examinations
  • Certificate Course on Compliance, Governance and Risk Management in Insurance
  • Certificate in Insurance Services
1. Certificate Course on Foundation of Casualty Actuarial Science

Eligibility

  • Minimum Qualification: 10+2 (with Mathematics)
  • Minimum marks Required (Aggregate): 50% to 60% varies according to programme.

Job Opportunities

  • Actuarial Analytics
  • Actuarial Modeller
  • Risk Manager
  • Quantitative Analyst
  • Consultant

Exam

  • Online mode
  • MCQ type
  • 20 Credit Points per Paper
2. Certificate Program in Advanced Insurance Marketing (CPAIM)

Eligibility

  • Graduates of any stream
  • Associates (AIII) and Fellows (FIII) of I.I.I. Mumbai

Basic Level:

  • Fundamentals of Insurance
  • Personal Financial Planning
  • Professional Selling
  • Practice of Life Insurance (IC 02) or Practice of General Insurance (IC 11)

Intermediate Level:

  • Insurance and The Environment
  • Understanding Buyer behavior
  • Agency Management
  • Indian Insurance Industry
  • Any one from the following
    • Life Insurance Underwriting (For Life Branch)
    • General Insurance Underwriting (For General Branch)
  • Any one from the following
        If Life Branch
    • Life insurance products
    • Pensions and Annuity
    • Health Insurance
    • Asset management
       If General Branch
    • Miscellaneous Insurance
    • Property Insurance
    • Miscellaneous Insurance
    • Marine Insurance
    • Motor Insurance
    • Health Insurance

Advance Level

  • Insurance Marketing – Principles and Practices
  • Leadership and Personal Mastery
  • Branding and Marketing communication
  • Marketing Channels in Insurance
  • Marketing research and Insurance
  • Research Project/ Dissertation

Job Opportunities

  • Senior Manager
  • Deputy Area Manager
  • General Manager
  • Marketing Role Analytics
3. Surveyor’s Examination
Pre-licensing test for Insurance Surveyors will be conducted

Eligibility

  • The Candidate should have a degree or diploma in any branch of engineering or a qualified Chartered Accountant
  • Candidate should be an associate member of Insurance Institute of India.

Papers

  • S–01 Principles and Practice of General Insurance and Insurance Surveys
  • S–02 Fire Insurance
  • S–03 Marine Cargo
  • S–04 Marine Hull
  • S–04 Marine Hull
  • S–05 Engineering Insurance
  • S–06 Motor Insurance
  • S–07 Miscellaneous Insurance
  • S–08 Loss of Profits
  • S–09 Crop Insurance

Job Opportunities

  • Insurance Surveyors
  • Surveyor and Loss Assessor Officer
  • Insurance risk surveyor
  • Surveyor Executive
  • Field Surveyor
  • Senior Land Surveyor Trainer

Exam

  • Exam mode – Online
  • MCQ type
  • Exam is conducted 4 times in a year in month of March/June/September/December
  • Passing percentage: 60% (i.e. 60 marks out of 100 marks)
4. Licentiate, Associateship and Fellowship Examinations

Eligibility

  • Candidates should pass S.S.C. or any equivalent examination and complete 18 years of age.
  • For CPAIM Course candidates should either be Graduate or Associates/Fellow of III.

A. Licentiate

This is a introductory stage comprises of two papers compulsory and one optional paper
  • Principles of Insurance
  • Practice of Insurance (Life and Non-Life)
  • One more paper as optional from the professional exam curriculum.

Exam

  • Duration: 2 hours per paper.
  • Passing Criteria is 60% in each paper.

Passing Credits

  • Each subject at licentiate gives you 20 credit. 60 credits are required to complete the Licentiate Stage.

B. Associateship

Associateship is a Professional level in an insurance industry and involves general knowledge about the industry, its practices, and regulatory rules.
  • At this level, students may have the option to choose subjects either Life or Non-Life or both combined.
  • The scheme of study provides knowledge of the chosen subject.
  • Hence candidates will have to get familiar with the practical aspects related to these subjects.

Exam

  • Associateship Stage tests knowledge on 6 different subjects of Insurance.
  • Two subjects are mandatory, rest 4 subjects optional by nature.
  • Candidates can choose from several available subjects.
  • It depends on the subject up to 30 or 40 credits will be allotted per subject/paper.

Passing Marks

  • Overall candidate needs to score 250 credits to be awarded as AIII (an associate of the insurance institute of India). This includes 60 credits received at Licentiate level.
  • Still this level can choose between Life/ general insurances.

C. Fellowship

  • This is the highest level and involves advanced studies of specified areas
  • A Fellowship acquires knowledge on both Life/Non-life aspects
  • It has no Branch so is awarded irrespective of the branch.
  • A fellow can work across life/General/health insurers.

Exam & Passing Criteria

  • Fellowship Stage has only 1 subject/paper as mandatory! The candidate can select from 4 available subjects. Other 3 papers are optional.
  • The scores should be 490 credits all together including credits at Licentiate & Associateship will be awarded “Fellowship”.

Job Opportunities

  • Assistant administrative officers in insurance companies
  • Insurance surveyor
  • Risk managers
  • Claim adjusters
  • Actuaries
  • Insurance consultants, etc.
5. Certificate Course on Compliance, Governance and Risk Management in Insurance

Eligibility

  • Associate/ Fellow Members of Institute of Company Secretaries of India or
  • Associate/ Fellow Members of Insurance Institute of India.

Papers

Course Duration: 1 year
        Part 1 (Online Exam of 3 Papers)
  • Insurance Regulations, Governance and Compliance
  • Risk Management in Insurance
        Part 2 (Training)
  • Three days of classroom training (Candidate must complete above within 1 years i.e. from 1st Enrollment for the examination or training whichever is earlier).

Examination / Award of certificate / Administration:

  • Examination will be conducted twice a year (Multiple choice questions)
  • Candidates who pass the examination and complete the classroom training will be awarded a Certificate jointly by I.I.I. & ICSI.
  • The course will be administered by the Insurance Institute of India.

Job Opportunities

  • Risk and Compliance Manager
  • Risk – Corporate Sector – Control Management -Analyst
  • Manager Risk Management
  • Associate Director, Risk Management
  • Chief Risk Officer
6. Certificate in Insurance Services

Eligibility

  • 10+2 in Science or Arts or Commerce

Exam

  • End term examination
  • Project works
  • Viva voce
  • Course Duration: 6-12 months

Job Opportunities

Opportunities available in Government and Private Companies as:
  • Insurance agent
  • Insurance advisor
  • Insurance claim adjuster
  • Sales agents
Expected Salary per annum: Rs 1,50,000 – Rs 5,00,000.
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