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Insurance Institute of India
The Insurance Institute of India (Regd) (formerly known as the Federation of Insurance Institutes) (J.C.
Setalvad Memorial) (Regd.) was established in 1955 for the purpose of imparting insurance education to
persons engaged or interested in insurance. The Insurance Institute of India (Hereinafter referred to as "the Institute") conducts examinations at various levels and arranges tuition services, both Oral and Postal. It is the only professional Institute in India engaged in insurance education
LIC and GIC have decided that in all future recruitment, preference will be given, other things being equal, to persons who have passed the Licentiate Examination of the Insurance Institute of India.
The Central Board of Secondary Education (C.B.S.E.), in collaboration with the General Insurance Corporation of India and the Life Insurance Corporation of India, have introduced insurance subjects at 10+2 as a vocation course, at selected centers.
The membership of the Institute is through its local Associated Institutes. There are at present 89 local Associated Institutes spread all over the country. The Insurance Institute of Sri lanka and the Royal Insurance Corporation of Bhutan Insurance Institute are affiliated to the Institute. The members of the local Associated Institutes and the Affiliated Institutes automatically become the members of ;the Institute. The Life Insurance Corporation of India and the General Insurance Corporation of India and its subsidiaries are its two corporate members.
The Governing Body of the Institute is its Council which functions through its two Committees, the Administration Committee and the Board of Education. The Board of Education is the supreme body in all matters of education and examinations.
The Institute is headed by a Secretary-General, assisted by Dy. Secretary, Assistant Secretaries, Officers & Staff.
The Institute conducts examination for the award of Insurance Certificates/Diplomas as under:
Inspector's Examination (General Insurance)
Certificate in Insurance Salesmanship (Agents)
Licentiate, Associate ship & Fellowship.
The certificates and diplomas awarded by the Institute are recognised by the Insurers, State Governments and the Government of India Sum Assured as by many developing countries.
The Oral tuition classes are organised by the local Associated Institutes for preparing candidates for the examinations conducted by the Institute. The Institute also provides Postal Tuition services in all subjects from Licentiate to Fellowship (in English only) as one of the important study aids. For postal tuition services the prescribed fees should be sent directly to the Insurance Institute of India, Mumbai.
Study courses, Publications & Library:
The Institute publishes Study Courses for all the subjects prescribed for its qualifying examinations. The Institute has also published "study techniques for Insurance students", a guide for effective methods of study and answering examination questions.
The Institute has a well-equipped library with over 7,500 titles on Insurance, Actuarial Science, Law, Economics, Finance, Statistics, and Management etc. The Associated Institutes also have their own libraries.
The Journal of the Institute is published twice a year. The Journal consists of articles on insurance and allied topics as also the news of the activities of the Institute and its Associated Institutes.
The Institute encourages research and advance studies in the area of insurance and related subjects. The S.K. Desai Memorial Medal and Prize is awarded to the best essay or work of research on any area of Insurance or related subjects. D. Subrahmaniam award is awarded to the best essay or work of research submitted by members who are not more than 45 years of age.
The Institute invites original technical papers of high standard on Insurance on pre-approved topics. The author/authors of selected papers will be invited to attend the Annual Conference of the Institute, to receive the prizes.
The rules governing these annual competitions can be seen elsewhere in the publication.
The Institute encourages Associated Institutes to organise Research/Advance studies in Insurance on a project basis. The reports of approved projects are published and released at the annual conference.
The College Insurance:
The College of Insurance, founded in 1966, is the training wing of the Insurance Institute of India. It is run by the Institute to cater to the training needs of Insurance personnel at different levels. The College has a full-time Principal. The faculty consists of qualified and experienced officials of the insurance Industry. Experts from outside the Insurance Industry. Experts from outside the Insurance Industry are also invited as guest-faculty.
The College has been recognised by the Government of India as an Institutions for higher learning in Insurance. The Government of India has been sponsoring candidates to the College from several Afro-Asian countries under Colombo and SCAAP Plans. Admission to the courses structured and organised by the college is through sponsorship only.
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Correspondence with the institute can be made at
Insurance Institute of India
P.O.Box No.1507, Universal Insurance Bldg, 6th Floor
Mumbai - 400 001
Phone : 287 2923/287 4722/ 285 1879
Telax : 011-85705INSTIN
Fax : 91-022-2873491
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