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

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
FEES STRUCTURE
Membership Fees-700
Registration Fees- 700
Examination Fees
For all three levels per subject equal fees will be applicable including Research paper/dissertation. i) For fresh Rs. 700/- Per Subject without learning course material. ii) For Repeaters Rs. 700/- per Subject without learning course Material.
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
Exam Fees
Registration fees for fresh candidates (one time) is Rs. 500/- and
Exam fees is Rs. 500/- per subject plus applicable service tax
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).
FEES STRUCTURE
Registration/ Membership fee of III: Rs.700/-* (Not applicable for Associate/ Fellow of III)
Subject enrollment fee : Rs.1,000/-* per subject (Fresh & Repeater)
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.