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The Advanced Diploma In Insurance Management is a 1-year postgraduate level course designed with an aim to impart complete knowledge of insurance field. It aims at offering full and detailed knowledge concerning insurance products, underwriting, claims, risk management and assessment, legal requirements, and sales and marketing. A core subject in the course are general principles of insurance, particular types of insurance such as life and non-life insurance, health and liability insurance, and insurance regulation and financial planning, microinsurance and rural insurance, actuarial and insurance mathematics, and the role of technology in the insurance industry.
The entrance tests recognized for admission to Advanced Diploma In Insurance Management course include CAT XAT MAT ATMA and other state level tests such as MAH CET and TSICET. Also, the candidates from any discipline arts, commerce, science, engineering or passed insurance agents having minimum of 3 years of working experience can directly apply for this course in the concerned colleges/institutions.
| Highlight | Details |
|---|---|
| Full Form | Advanced Diploma in Insurance Management |
| Duration | 1 year (Full-time), 2-3 years (Part-time) |
| Course Level | Diploma |
| Eligibility | Bachelor's Degree in any discipline |
| Top Colleges | National Insurance Academy (NIA), Mumbai, Institute of Insurance and Risk Management (IIRM), Pune, The Chartered Insurance Institute (CII), London |
1. Minimum academic qualification required for applying is 10+2 pass or equivalent from a recognized board. It is also open to students already in Class 12 but would be LEC 1 students.
2. This course is open to all regardless of their age and one can apply for this course at any age. This course can be taken by working professionals to enhance on their knowledge in a given domain.
3. It would be advantageous if a candidate has rudimentary knowledge of insurance products and the services that are offered but this is not strictly necessary.
4. In order to understand and apply the insurance concept, good communication and analytical skills are essential.
5. Courses like insurance software require basic computer literacy that is why applicants are expected to have basic computer proficiency.
6. Those who want to make career in insurance domain will have to be passionate for it as this course helps in developing the right set of skills for the domain.
Advanced Diploma In Insurance Management Syllabus 2024
| Module | Description |
|---|---|
| Principles of Insurance: | Understand center insurance principles, chance control techniques, product types (assets, life, fitness), and criminal frameworks. |
| Risk Assessment & Underwriting: | Master hazard assessment methodologies, underwriting techniques, pricing strategies, and reinsurance mechanisms. |
| Claims Management & Loss Adjusting: | Explore claims processing strategies, loss adjusting techniques, fraud investigation, and regulatory compliance in claims handling. |
| Actuarial Science & Statistics: | Gain information of actuarial technological know-how ideas, statistical gear for threat evaluation, booking strategies, and mortality tables. |
| Investment Management & Financial Analysis: | Understand insurance organisation investment techniques, monetary analysis tools, and regulatory necessities for funding portfolios. |
| Marketing & Distribution Strategies: | Learn about coverage advertising and marketing channels, product design and branding, distribution networks, and customer relationship control. |
| Information Technology & Automation: | Explore the effect of era in coverage operations, records analytics, danger control structures, and digital distribution structures. |
| Regulatory & Legal Framework: | Gain knowledge of relevant coverage regulations, legal guidelines governing insurance contracts, patron protection guidelines, and compliance methods. |
| Ethics & Corporate Governance: | Understand moral issues in insurance practices, company governance concepts, and hazard management frameworks. |
| Case Studies & Industry Simulations: | Apply theoretical information to real-world eventualities through case studies, industry simulations, and mission work, honing realistic abilities in risk evaluation, underwriting, claims control, and strategic selection-making. |
1. Make sure you fulfill some of the elementary requirements like minimum 12th pass with at least 50% marks.
2. Complete the application form either online or by filling the paper form with the required documents. Pay the application fee.
3. If any there is then take the qualification test and go for personal interview.
4. You will be notified from the institute in case you are selected and you will be provided with an admission offer letter. Pay the course fees to accept the offer that admits you to the course.
5. In some universities, additional documents may be required, and fee payment contracts might have to be signed as well.
6. Enroll into induction program of the course and then start attending classes routinely. Comply with the calendar and exam regulations of the institute as per academic year.
| College Name | Location |
|---|---|
| National Academy of Insurance Management (NAIM), Pune | Pune |
| National Insurance Academy (NIA), Hyderabad | Hyderabad |
| Department of Insurance (DIO), Mumbai | Mumbai |
| Insurance Institute of India (III), Mumbai | Mumbai |
| Symbiosis Centre for Financial Markets (SCFM), Pune | Pune |
| School of Finance & Economics, Jawaharlal Nehru University (JNU), New Delhi | New Delhi |
| Tata Institute of Social Sciences (TISS), Mumbai | Mumbai |
| School of Economics, University of Hyderabad | Hyderabad |
| Institute of Social Sciences (ISS), New Delhi | New Delhi |
| Dayananda Sagar College of Arts, Science & Commerce, Bangalore | Bangalore |
| College Name | Location |
|---|---|
| ICFAI Business School (IBS), Hyderabad | Hyderabad |
| SP Jain Institute of Management & Research (SPJIMR), Mumbai | Mumbai |
| Bajaj Institute of Management Studies (BIMS), Mumbai | Mumbai |
| NMIMS School of Banking Excellence (MSBE), Mumbai | Mumbai |
| Welingkar Institute of Management Development & Research (WIMDR), Mumbai | Mumbai |
| Gleneagles Global School of Business, Bangalore | Bangalore |
| Praxis Business School, Kolkata | Kolkata |
| Institute of Finance & Management (IFM), Chennai | Chennai |
| The Institute of Company Secretaries of India (ICSI), Delhi | Delhi |
| Birla Institute of Management Technology (BIMTECH), Greater Noida | Delhi NCR |
| College Name | Location | Average CTC (INR, in line with annum) |
|---|---|---|
| National Academy of Insurance Management (NAIM), Pune | Pune | 5,00,000 - 7,00,000 |
| National Insurance Academy (NIA), Hyderabad | Hyderabad | 4,50,000 - 6,00,000 |
| Symbiosis Centre for Financial Markets (SCFM), Pune | Pune | 4,00,000 - 5,50,000 |
| ICFAI Business School (IBS), Hyderabad | Hyderabad | 3,50,000 - 5,00,000 |
| Bajaj Institute of Management Studies (BIMS), Mumbai | Mumbai | 3,00,000 - 4,50,000 |
| Specialization | Salary Range |
|---|---|
| Underwriting Analyst: | 3,50,000 - 5,00,000 |
| Claims Adjuster: | 3,00,000 - 4,50,000 |
| Actuarial Assistant: | 4,00,000 - 5,50,000 |
| Risk Management Consultant: | 4,50,000 - 6,00,000 |
| Insurance Marketing Manager: | 3,00,000 - 4,00,000 |
