India is gradually emerging as a favorable destination to the insurance companies all over the world. The opening up of insurance sector to the private insurers has contributed to rise in premium incomes and penetration levels. With growing potential in both life and general insurance, India is set on the road to become the largest insurance market in the world. These developments call for professionally trained and skilled people in insurance sector.

The PG Diploma Program in Insurance aims to prepare students/ executives to pursue interesting and challenging career in the field of insurance.

Program Structure

The program covers all the important topics related to Insurance in two groups with electives in life and general insurance. The program is divided into two Groups each consisting of two subjects. The structure of the program is given below:

Group/Part

Subjects

Group A

Part I

Risk and Insurance

Part II

Elective (Any one):

– Life Insurance

        or

– General Insurance

Group B

Part III

Insurance Marketing

Part IV

Insurance Operations

Outline Curriculum

Group A

Part I: Risk and Insurance

Introduction to Risk, Risk Management Essentials, Measurement of Risk, Loss Exposure, Risk Management - Non-insurance Techniques, Introduction to Insurance, Principles of Insurance, Insurance Industry, Insurance Market, Insurance as Risk Management Technique, Selection and Implementation of Risk Management Techniques.

Part II: Elective (Any 1)

  • Life Insurance

Principles of Life Insurance, Personal Financial Planning and Insurance, Life Insurance Products, Pensions and Annuities, Risk Assessment & Underwriting, Premium Setting, Product Development, Design and Evaluation, Claims Management, Marketing and Servicing, IT Applications, Tax Planning, Legal Framework, Current Developments and Case Studies.

  • General Insurance

Introduction to General Insurance, Principles of General Insurance, Personal Policies, Insurance of Property and Liability, Health Insurance Products, Fire Insurance, Motor Insurance, Aviation Insurance, Engineering Insurance, Agriculture Insurance, Marine Insurance, Credit Risk Insurance, Liability Insurance, Surety, Bonding Insurance, Workmen's Compensation Insurance, Miscellaneous Insurances, Risk Assessment and Underwriting, Claims Management, Legal Framework and Documentation, Servicing of Commercial General Insurance, Product Design, Development and Evaluation, IT Applications, Current Development and Case Studies.

Group B

Part III: Insurance Marketing

Introduction, Insurance Marketing Environment, Customer Value and Satisfaction in Insurance, Marketing Information Systems and Marketing Research in Insurance, Consumer Behavior in Insurance Marketing, Positioning for Insurance Products, Marketing Strategies for Insurance Companies, Insurance Products, Pricing of Insurance Products, Promotion of Insurance Products and Services, Distribution of Insurance Products and Services, Physical Evidence and Insurance Marketing, Sales Force Management in Insurance, Ethics in Insurance Marketing.

Part IV: Insurance Operations

Overview of Insurance Operations, Distribution Systems in insurance, Loss Control and Premium Auditing, Reinsurance, The Reinsurance Transaction, Ratemaking Principles and Process, Insurer Financial Management, Solvency Measures and Compliance, Claims Adjusting, Property and Liability Claims Adjusting, Introduction to IRDA ACT, 1999.

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