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Careers In Insurance Introduction Eligibility Job Prospects Remuneration Institutes
Introduction
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Insurance means being covered or protected against any hazards of life. It is a financial agreement that binds two people to certain obligations which is known as Policy. One who buys insurance/ gets insurance coverage is the policy holder or insured and the one who sells the policy is the insurer. From the time the insured signs the policy he/she has an obligation to pay a certain amount of money known as premium at regular intervals for a stipulated period to the insurer. In fact, insurance is a contract to pay a premium in return for which the insurer will pay compensation in certain eventualities e.g. fire, theft, motor accident, etc.
Eligibility
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Students who have passed 10 + 2 or equivalent exam are eligible. License is needed to work in this field
Job Prospects
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Administrative Officer (AO) and Assistant Administrative Officer (AAO) : These 1st class officer group in LIC and GIC begin their job with probation-cum-training period for 6 months where the candidate is placed anywhere in the country. AAOs can choose any of the areas from Administration, Development and Accounts. Administration AAOs handle policy making, policy claims up to certain limit, checking clauses and details, filing official returns and statements to higher regional offices etc. The Development AAOs deal with marketing and procurement of business, meeting prospective clients, promoting the policies and getting contracts.
Remuneration
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The average salary for a Senior Business Analyst is Rs 842,941 per year.
Institutes Institute for Finance, Banking Bangalore/Bengalooru, Karnataka.
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and
Insurance,
Amity School of Insurance and Actuarial Sciences, Noida, Delhi NCR. MAEER's MIT College of Insurance, Pune, Maharashtra. Institute Of Insurance And Risk Management, Arunachal Pradesh-Other, Arunachal Pradesh.