Insurance Institute of India (III)

     

Associate and Fellow diploma from Insurance Institute of India (III)

 The Insurance Institute of India was established in the year 1955, for the purpose of promoting Insurance Education & Training in the country. Institute qualifications are held in esteem both by the regulator and the industry. III offers many specialised diploma and certificate courses in the field of Life and Non-Life Insurance. The examination for most of the courses is conducted on-line. The study material is provided by Institute upon payment of requisite fees. The classroom training as per the requirement of the specified course is also provided by III. The flagship course for the institute is the Fellowship diploma having 3 stages which are stated below. The stages are based on credit point system with each subject having specified credit points and minimum credit points for each stage.

 Stage 1: LICENTIATE EXAMINATION

 This is essentially an introductory course dealing with the two compulsory papers i.e. Principles of Insurance and Practice of Insurance (Life and Non-Life) and one more paper as optional from professional exam curriculum.  One needs to earn at least 60 credit points to qualify this stage

 Stage 2: ASSOCIATESHIP EXAMINATION

 At this level, students may have option to choose subjects either Life or Non-Life or both combined. The scheme of study provides knowledge of chosen subject. However, candidates will have to get familiar with the practical aspects related to these subjects. One needs to earn at least 250 credit points to qualify this stage (including credit points at Licentiate stage).

 Stage 3: FELLOWSHIP EXAMINATION

 This is the highest level and involves advanced studies of specified areas as per the elective i.e. Life or Non-Life like Actuarial aspects, Management Accounting, Asset Management, and Reinsurance Management etc. along with specialized subjects in Life /Non-life stream as elected by students. One needs to earn at least 490 credit points to qualify this stage (including credit points at Licentiate and Associate stage).

 Eligibility:

 A candidate will be eligible to appear for the Professional examination if he has,

  1. Successfully completed Matriculation, S.S.L.C., S.S.C. or any equivalent examination; OR
  2. Has worked with an insurer either in the field or office for a period of at least three years prior to the date of registration.

 IRDA has recognized III as examining body to conduct pre-recruitment examinations for Insurance Agents, Corporate Agents, Web Aggregators, Insurance Marketing Firms (IMF) & renewal of Insurance Broker exams. III is also examining body for pre-licensing test for Insurance Surveyors and Loss Accessors.

(Source: https://www.insuranceinstituteofindia.com)

 Certificate / Diploma Courses offered jointly, by Insurance Institute of India & reputed organisations

 

  1. Diploma & Advanced Diploma in Life Insurance Underwriting is being offered jointly with Association of Insurance Underwriters (AIU).

 

  1. Diploma on Life Insurance Underwriting In addition to Life Assurance Underwriting subject, this diploma deals with Legal and Regulatory aspects for Life Underwriters and Fundamental of Medical Underwriting.

 

  1. Advanced Diploma on Life Insurance Underwriting This is advanced diploma on Life Insurance Underwriting, which deals with Intermediate Medical & Non-Medical Life Insurance Underwriting & Advanced Life Insurance Underwriting. The textbooks for this course is being provided by Academy of Life Underwriting Inc. (ALU), U.S.A.

 

  1. Certificate Course on Compliance, Governance and Risk Management in Insurance is being offered jointly with “The Institute of Company Secretaries of India (ICSI)” This course is divided in 2 parts i.e. 1) Online Examination & 2) Class room training of 3 days. This course deals with Fundamentals of Insurance, Insurance Regulations, Governance and Compliance and Risk Management in Insurance. Follow link for more details –

 

  1. On line certificate course Certified Insurance Anti-Fraud Professional (CIAFP) Examination

 Objective: CIAFP course in association with NATG (National American training group). The objective of the Course is to cover all academic and practical aspects of fraud fighting, fraud detection cum investigation and fraud prevention in insurance.

 Course content: ü Insurance Overview (Course 1) ü Introduction to Insurance Fraud (Course 2) ü Understanding Your Clients Objectives (Course 3) ü The Use of Surveillance in an Insurance Investigation (Course 4) ü Workmen’s Compensation Fraud (Course 5) ü Ethics for Insurance Investigators (Course 6) ü Pretext and Privacy (Course 7) ü Recorded Statements (Course 8) ü Neighbourhood Investigations (Course 9) ü Auto Theft 101 (Course 10) ü Staged Automobile Accidents (Course 11) ü Fraud in Life & Disability Insurance (Course 12) ü Health Insurance Fraud (Course 13) ü Concepts of Product Liability (Course 14) ü Subrogation and the Investigation (Course 15)

 In addition the institute has the following specialized diploma courses also.

  

  1. Specialized Diploma on Marine Insurance

This diploma deals with Principles & Underwriting of Marine Cargo Insurance, Marine Insurance Claims & Marine Hull Insurance Underwriting and Claims. 

  1. Specialized Diploma on Fire Insurance This diploma deals with Fire Insurance Coverage’s, Fire Insurance rating & Underwriting and Fire Insurance Claims.
  1. Certificate Course in Foundations of Casualty Actuarial Science

This certificate course deals with the basic fundamentals of General Insurance Actuarial techniques for scientific determination of premium rates.

  1. Specialized Diploma in Casualty Actuarial Science

This diploma deals Basic Ratemaking and Estimating Unpaid Claims Using Basic Techniques in addition to subjects of above certificate course.

  1. Certificate Programme in Advanced Insurance Marketing (CPAIM)

This is an advanced comprehensive course to provide knowledge and understanding of insurance domain and the marketing functions applicable to insurance.  The course is designed in 3 levels i.e. Basic, Intermediate & Advanced Level with Research Project. 

  1. Specialized Diploma on Health Insurance

This diploma deals with Basics of Health Insurance, Health Insurance Claims and Health Insurance Operations.  

 

  1. Ph.D. Research

Research leading to Ph.D. is conducted by the III being a recognized Research Centre of Mumbai University.

 Link to the training programs conducted by the College of Insurance also on the website

http://www.coi.org.in/web/guest/program-calendar