Insurance Course: After 12th Courses, Duration, Top Colleges, Fees, Admission Process, Syllabus, Job Opportunities, and Salary
The insurance courses have well-designed syllabus to give knowledge about the field and focus on the topics like financial planning, public finances, and financial instruments.
Insurance Course: What is that?
Insurance is something that challenges professionals in finance. This field is vast, so we can recommend you make a career with insurance courses. One who is specialized in property insurance, health insurance, life insurance, travel, and the accident has a wide scope in the field of insurance. In addition, many people are waiting for those who have good analytical skills and interpersonal skills. The basics of financial planning, public finances, and financial instruments will be covered in the courses on insurance. If you have the same you are knocking on the right door by choosing the insurance sector. This field cannot be described just as a piece of paper. It is a protective shield for the future and provides monetary compensation for any kind of illness, loss, death, and damage. With an interest in finance, you can pursue insurance courses online and offline mode. The remaining information about the courses is available in the article below. You can check it out to know basic information about insurance.
Is Insurance a course that everyone can take?
Candidates having an interest to make a career in the insurance stream should have cleared 12th from any stream. Although, the colleges have different criteria to select candidates for the insurance courses. Becoming a professional in insurance is not that difficult. This field is quite easy when compared to most finance careers.
Best Courses to Pursue In Insurance
According to the candidate’s interest, here a list of insurance courses at certificate, undergraduate, and postgraduate levels is provided.
- Certificate course on “Compliance, Governance and Risk Management in Insurance”*
- Executive Diploma in Insurance Management
- B Com/M.Com/MBA
- Post Graduate Certificate in Health Insurance
- Post graduate diploma in insurance marketing.
Duration of Courses
The duration Certified or Certificate course on Compliance, Governance, and Risk Management depends on a few factors but it varies between 4 days to 3 months. A kind of postgraduate diploma the Executive Diploma in Insurance Management has a duration of 1 year. For this course, few institutes are there that offer the same program on a part-time basis. The B.com in Banking and Insurance is a Bachelor of Commerce and an undergraduate course that takes 3 years duration to complete. This is also a full-time program that is divided into 6 semesters. Candidates can pursue master’s level degree courses after this bachelor’s program as well. The Master of Commerce or M.com in banking and insurance is a postgraduate level course that has 2 years duration. Then, there is one more PG level course MBA or Master of Business Administration in Insurance which takes 2 years to complete. The PGCHI or Postgraduate Certificate in Health Insurance has a minimum duration of 6 months and a maximum is 2 years. The other part-time postgraduate diploma or PG diploma course in insurance marketing has a one-year duration.
Required skills for Insurance Course
For an insurance course, other than mental Aptitude and interest there are many things that you need to have. Clearing the interview is not that difficult. However, being in a position and achieving something could be difficult altogether. Other than technical skills, some soft skills that are required in the insurance industry are as follows:
- Customer service
- Attention to detail
- Analytical skills
- Visionary for future growth
- Mathematical skills
- Excellent Communication skills
- Problem solving skills
- Interpersonal skills
- Monitoring and evaluation skills
In addition to foreign universities, there are some Indian colleges or universities that offer insurance courses.
1.) The Insurance Institute of India, Mumbai
2.) University of Bombay, Mumbai.
3.) Indira Gandhi National Open University, New Delhi
4.) Institute of Actuaries of India, Navi Mumbai
5.) The college of Vocational Studies, Delhi University, New Delhi.
Eligibility Criteria for Admission
- The eligibility criteria for insurance courses are one of the most important highlights here. Those who wish to pursue courses in this field, need to fulfill the following criteria.
- For the certificate/diploma/Bachelor’s degree course, a complete education of 10+2 or class 12 of candidates from a recognized board is required.
- And, a minimum of 50% aggregate marks a
- For the master’s degree or PG program, completing 10+2+3 in an equivalent discipline from a recognized university is required.
Entrance Exams and Admission Process
For the further admission process, candidates need to have an entrance exam score. Every college has a different admission process for insurance courses. Some popular entrance exams for insurance courses are NPAT, DU JAT, BHU PET, BUMAT, XAT, and CAT. These are essential for UG and PG course admission. Also, candidates should meet official guidelines to know suitable entrance tests for the course of their choice. In this way, you will save the effort of giving multiple exams for admission rather than giving the important ones.
Colleges or University
The Insurance Institute of India , Mumbai
University of Bombay, Mumbai
Indira Gandhi National Open University,
Institute of Actuaries of India, Navi Mumbai
The college of Vocational Studies, Delhi
University, New Delhi
List of Subjects and a Syllabus for Insurance course
To understand the insurance course, candidates are required to study core subjects and topics. So the subjects and syllabus that are common in the Insurance courses are listed in the table.
Common Subjects and Syllabus for Certificate course on “Compliance, Governance and Risk Management in Insurance”*, Executive Diploma in Insurance Management, B Com/M.Com/MBA, Post Graduate Certificate in Health Insurance and Post graduate diploma in insurance marketing
|Financial Management||value education|
|Financial Accounting 2||Insurance Law and practice|
|International business||Financial Statistics|
|Principles and practice banking 1||English 2|
|Principles and practice banking 2||Entrepreneurship Management|
|Environmental Studies||Financial Accounting 1|
|E-Commerce and E-Business||Business Ethics|
|Income Tax and Auditing||Financial Mathematics|
|Principles of Insurance Physical Education||Service and Marketing|
|Central Banking||Institutional Training|
|Workshop on Reasoning Skill||Business Environment|
|Business Communication||Management Accounting|
|English and Business Management||Workshop of Numerical Skills|
|Legal Regulatory Aspects of Banking||Business Economics|
Responsibilities of Insurance Professional
A professional of insurance has multiple responsibilities to do. In an insurance industry, they sell insurance products to the customers. Some roles and responsibilities that an Insurance agent performs are given here.
- Know about the markets.
- Give customer support to the clients.
- Promote insurance products and services.
- Selling services and products.
- Dealing with the individuals.
- Dealing with corporate businesses.
- Promote brands of insurance.
- Build Public relations.
- Developing tactics for business.
Also See: All Details regarding B.A. Course
Job Opportunities and Salary after Insurance studies
If we calculate, the insurance company grow 15% to 20% each year. So, candidates have very secure and handsome paying jobs in insurance company after completing the insurance courses. This industry is ever-growing in the country. Hence, successfully providing a number of job opportunities to the graduates. Some of them job profiles that are available for the graduates of insurance are an Insurance Account Manager, Insurance Claim Adjuster, Insurance Claim Specialist and Insurance Agent. Salary provided by the insurance professionals is INR 3 lakh to INR 5 lakh p. a. There are a number of recruiters who offers jobs with a good salary package. Some of the top recruiters in the insurance sector are listed below.
- Om Kotak Mahindra
- HDFC Bank
- Max New York Life
- Syndicate Bank
- Birla Sun-life
- Axis Bank
- ICICI Lombard
- General Insurance Corporation GIC
- Muthoot Finance
- LIC or Life Insurance Corporation of India
- Royal Sundaram
- Chadha & Co
- SBI Life Insurance
Frequently Asked Questions
Is it difficult to study insurance course?
If you study once in a year, then it might be tough for you. One who is persistent and regular for his or her studies, then insurance is not that tough.
What is IRDA full form?
The full form of IRDA is Insurance Regulatory and Development Authority. To recruit a General Insurance Agent in India, this IRDA conducts a test.
What are the colleges for insurance course?
In India, some of the institutes offering courses in Insurance are The Insurance Institute of India, Mumbai, University of Bombay, Mumbai, Indira Gandhi National Open University, New Delhi, Institute of Actuaries of India, Navi Mumbai, The College of Vocational Studies, Delhi University, New Delhi.
Where can I learn online insurance courses and skills?
Some online websites like edX, Udemy and Coursera offers online learning for insurance courses.
Where can I find a job after qualifying insurance courses?
For insurance, qualified candidates, some areas of employment are Health Departments, Loan Associations, Financial institutions, Research Organizations, Banking Sectors, Automobile industries, Property developers, Insurance Agencies and Loan Associations.