Institutes To Trust For Insurance Education In India

Insurance is a very important aspect of life and business today and hence there is a need for professionals to be there with the right educational background. There are many which are recognised by the Government of India and IRDA or Insurance Regulatory Development authority of India as well.

The institutes which can be trusted to provide quality education are:
 

  • The Institute of Actuaries of India was made in 1944 September and remains the only recognised body for actuarial profession in India. The Institute was formed by conversion into a body corporate, by an act of parliament (The Actuaries Act, 2006), of the erstwhile Actuarial Society of India. An actuary who qualifies from the Institute is expected have knowledge of finance modelling and risk analysis in insurance perspective and one who is the institutes fellow member. They are engaged in policy pricing, determining values of employee benefits, life interests and insurance risks among other allied things.

 

  • The Insurance Institute of India is a society of professionals imparting insurance education and was established at Mumbai in 1955. It is recognised by both the Indian government as well as the insurance watch dog IRDA. It awards certificates, degrees and diplomas such as Licentiate, Associate and Fellow and is also involved with imparting postal and oral tuitions in insurance subjects. It also provides scholarships and awards for underprivileged and to those who score well in the exams they hold. It was formerly known as the Federation of Insurance Institutes.

 

  • The Institute of Insurance and Risk Management or IIRM was set up almost a decade back by IRDA itself. It is considered as part of a very small group of institutions which impart education in actuarial sciences, risk management as well as Insurance. It provides special teaching which is aimed at enabling students at securing International Post grad Diplomas or IPGD as well as well as the London based Dip CII as part of the IPGD plus programme. It is also recognised by London based IRM or Institute of Risk Management.

 

  • Micro Insurance Academy or MIA provides advisory services in insurance and is involved with furthering insurance education and various training programmes.

 

  • The Life Insurance and General Insurance Corporation of India along with the Government of India among others in the 1980s came together and thus was created the National Insurance Academy to further learning in areas such as Pension, Insurance and allied areas.


Thus, in India today we find that there are a number of institutes which have come up with programmes for Insurance education at a professional level.

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