If anyone wants to get into the insurance industry, I think the starting point is the Insurance Institute of India or the Indian institute of insurance.
This blog post gives a high-level overview of the Insurance Institute of India regarding its operations, duties, responsibilities, and iii exams, etc.
The insurance institute of India is established to provide education of insurance to the people who are engaged in the insurance industry. The insurance institute of India is established in 1955 in Mumbai.
About IIS / Insurance Institute of India
IIS’s main aim is to provide trained manpower to the insurance industry. By providing proper education about rules and regulations of the insurance industry to the agents the IIS also helping the general public.
You probably are wondering how it benefits normal people?
Here is a scenario that explains
For example When purchasing/taking insurance policy few people shroud data or give wrong data. While the claim process there will be contrasts between an insurance agency and the individual. along these lines, if the specialist is affirmed and he knows the significance of giving honest data he will direct them in the correct way.
Hence, when an insurance agent or Broker or Licentiate has this knowledge, they help insurance buyers in selecting the right plans and explain the insurance buyers of the risks, etc.
Objectives of Insurance Institute of India
- Provide training
- Conduct examinations
- Give certifications
The main objective of IIS is to educate the people about insurance. Insurance institute of India provides training on different courses and conducts examinations then gives certifications.
Most of the courses are aimed at insurance agents, insurance brokers, and insurance enthusiasts.
Certificate / Diploma Examinations
Licentiate / Associateship /Fellowship
These are different levels of certificates that the insurance institute of India offers.
The licentiate confirmation is a fundamental level; it is valuable for individuals who are keen on insurance and need to begin a profession in the insurance business or simply want to know about the insurance business.
This exam covers subjects of Principles of Insurance and Practice of Insurance (Life and Non-Life) and one more paper as optional from the professional exam curriculum.
This is a mid-level certification. It is useful for people who are already in the insurance industry and want to grow in their careers. The candidates can choose Life or Non-life insurance subjects. As per the insurance institute of India, this level needs certain practical knowledge or experience for this certification.
This is Advanced level certification. Fellowship gives advanced studies in specific areas. Again, this also helps people who are already in the industry and want to climb the hierarchy ladder in their careers.
Having these certificates not assure you of anything but they add value to your resume. The insurance companies will give weight to candidates who have these certifications when they are hiring.
Insurance Institute of India offers diplomas in different specialties of insurance. By looking at the names of these diplomas you will know the specializations and know need to elaborate on these I suppose.
1. Specialized Diploma in Marine Insurance
2. Specialized Diploma in Fire Insurance
3. Specialized Diploma in Health Insurance
4. Certificate Programme in Advanced Insurance Marketing (CPAIM)
5. Certificate Course in Foundations of Casualty Actuarial Science
6. Specialized Diploma in Casualty Actuarial Science
7. Diploma in Life Insurance Underwriting
8. Advance Diploma in Life Insurance Underwriting
9. Compliance, Governance and Risk Management in Insurance
Jointly Offered certificate /Diploma
Insurance Institute of India offers some Diplomas in joint with the Association of Insurance Underwriters (AIU). And, the Institute of Company Secretaries of India (ICSI).
III & AIU
- Diploma on Life Insurance Underwriting
- Advanced Diploma on Life Insurance Underwriting
What is Insurance Underwriting
please check the answer in my FAQ blog
III & ICSI
- Certificate Course on Compliance, Governance and Risk Management in Insurance
This course is in two parts Online examination & class room training. As the name indicates this course offers knowledge on insurance fundamentals, Regulations, Governance and Compliance, and Risk Management.
III & LIBA
- Executive Diploma in INSURANCE MANAGEMENT
This course is helpful for candidates who want to get into Management positions in the Insurance industry. It also helps the people who are already in the insurance industry and wants to grow in a career.
This course is offered by LIBA -Loyal Institute of business and administration collaboration with IIS.
Online certificate course
Certified Insurance Anti-Fraud Professional (CIAFP)
This course covers the academic and practical features of insurance fraud and fraud-fighting, detection and instigation.
The duration of the course is 1 year. It includes online and classroom training. 3 days of classroom training is mandatory.
POSTAL LIFE INSURANCE AGENTS EXAMINATION
Insurance Institute of India conducts Postal Life Insurance Agent exams on behalf of Postal Life Insurance Co. It is a government-managed company like Life Insurance Corporation of India.
IIS only provides logistic support to Postal Life Insurance Co; the syllabus and training are designed by Postal Life Insurance only.
The candidates who willing to take this exam must be sponsored by Postal Life Insurance, no private persons are allowed for this exam.
For More details http://www.postallifeinsurance.gov.in/
What is the Insurance surveyor / What an insurance surveyor does?
Please check the answer here https://ainsuranceplace.com/frequently-asked-questions-insurance/
III of India conducts exams for insurance surveyors. The contents of the exam can be found here https://www.insuranceinstituteofindia.com/documents/10156/4defc549-8e67-4257-b799-7d50111a0984
Insurance Institute of India offers training online. You must apply/send a request by filling a form.
Also, III India sells e-books, but it seems the e-books are working only on certain browsers like Chrome, Firefox and not working on Internet Explorer, UC browser.
The e-books are available in English and Hindi languages.
Be careful when buying e-books as there will be no refund if you want to return the book. So, be cautious when choosing a book and choose the right book.
The e-books are not available offline, you must log in every time you want to access them.
Job Opportunities/Placements / Careers
The placement assistance from the Indian institute of insurance is only available for registered users.
Contact – Insurance Institute of India
‘G’ Block, Plot No. C-46, Bandra – Kurla Complex, Bandra (East),
Mumbai – 400 051.
how to apply for licentiate exam
Candidates can use the online registration tool to register and register for the exam through the III website. New candidates can refer to the “New Candidate Help Handbook”, and existing candidates can refer to the “Existing Candidate Help Handbook” available under the “Help Desk” menu.
What is IC38 examination in insurance
IC 38 is one of the subjects related to the insurance industry. IC38 test is conducted for the candidates who want to be an insurance adviser in any insurance firm. IC38 subject covers all basic topics related to Life, Health, and general insurance.
Other links to refer