byGaganDeep
Updated on - 25 Aug, 2024
MBA Insurance is a two-year full time post graduate management degree program in the field of insurance. This course offers an individual specialized professional competencies in insurance management, risk assessment, actuarial science, insurance laws and regulations among others. The course objectives seek to produce competent insurance professional to manage and lead insurance organizations.
The entrance tests that are considered for admission to MBA (Insurance) are CAT, XAT, MAT, ATMA, CMAT, GMAT, and university level. It is compulsory to achieve a good percentile score in any of these standardized tests to get into the top B-schools which offers this kind of MBA. Further, institute may also use the group discussions, written tests, and personal interviews as a tool for the selection process before extending the final admission.
| Event | Details |
|---|---|
| - Full Form | Master of Business Administration in Insurance (MBA-Insurance) |
| - Duration | 2 years |
| - Course Level | Postgraduate |
| - Eligibility | Graduate in any discipline |
| - Top Colleges | National Insurance Academy (NIA), Pune, Institute of Insurance and Risk Management (IIRM), Hyderabad |
| - Entrance Exam | Entrance Exam conducted by respective colleges, CAT, MAT, GMAT, GRE |
1. Candidate must possess a Bachelor’s degree in any discipline from a recognized University with the minimum of 50% marks. Mathematics/Statistics at 10+2 level is compulsory in some colleges.
2. The CAT/XAT/MAT/CMAT/ATMA/GMAT tests followed by Group Discussion/Personal Interview rounds conducted by the B-schools.
3. It is mandatory that the candidate should have at least 2 years of work experience in the insurance field. Employer has to produce the experience letter.
4. Candidates sponsored from the insurance companies may be given admission directly depending on the performance in their academic transcripts and interviews.
5. Some of the soft skills tested during the admission process include; communication skills, analytical skills and basic insurance domain knowledge.
6. Final year graduates are also eligible but the degree certificate should be produced at the time of admission confirmation. It ranges from 25-28 years depending on the university.
| Subject | Topics |
|---|---|
| Insurance Management | Insurance principles, Insurance markets, Insurance companies |
| Risk Management | Risk identification, Risk assessment, Risk mitigation |
| Financial Management | Financial statements, Budgeting, Financial planning |
| Insurance Marketing | Insurance products, Marketing strategies, Sales techniques |
| Underwriting | Underwriting principles, Risk selection, Policy issuance |
| Claims Management | Claims handling, Claims adjustment, Claims settlement |
| Reinsurance | Reinsurance principles, Reinsurance markets, Reinsurance contracts |
| Insurance Regulations | Insurance laws, Regulatory bodies, Compliance |
| Actuarial Science | Actuarial principles, Actuarial tables, Actuarial applications |
| Risk Modeling | Risk modeling techniques, Risk analysis, Risk simulation |
| Insurance Technology | Insurance software, Digital insurance, InsurTech |
| Dissertation | Original research, Literature review, Methodology, Findings |
| Project Work | Practical application of insurance concepts and principles |
Tabulated below is the collection of the Top 7 Private Master of Business Administration [MBA] (Insurance) Colleges in India with Fee Structure, including their key features.
| Name of the institute | Location | Fees |
|---|---|---|
| Amity University | Mumbai, Maharashtra | INR 640,000 |
| Arunodaya University | Itanagar, Arunachal Pradesh | -- |
| Om Sterling Global University | Hisar, Haryana | INR 130,000 |
| Jamia Hamdard University | New Delhi, Delhi NCR | INR 4,100,000 |
| ICFAI University, Meghalaya | Shillong, Meghalaya | INR 119,000 |
| Swami Vivekanand Subharti University | Meerut, Uttar Pradesh | INR 470,000 |
| Himalayan University | Itanagar, Arunachal Pradesh | INR 85,000 |
Tabulated below is the collection of the Top 6 Government Master of Business Administration [MBA] (Insurance) Colleges in India with Fee Structure, including their key features.
| Name of the institute | Location | Fees |
|---|---|---|
| Pondicherry University | Pondicherry, Puducherry | INR 135,600 |
| Central University of Himachal Pradesh | Kangra, Himachal Pradesh | INR 19,200 |
| Jawaharlal Nehru Technological University | Kakinada, Andhra Pradesh | INR 150,000 |
| Chhattisgarh Swami Vivekanand Technical University | Bhilai, Chhattisgarh | INR 455,000 |
| Sambalpur University | Sambalpur, Orissa | INR 68,373 |
| National Law University Jodhpur | Jodhpur, Rajasthan | INR 259,000 |