SYLLABUS (Non-life)

TOPICS TO BE COVERED

1. INTRODUCTION TO INSURANCE

   1. Purpose and Need of Insurance

   2. Insurance as a social security tool

   3. Role of Insurance in the development of economy

   4. Pooling of risks and resources, spread of risks.

2. FUNDAMENTALS OF AGENCY LAW

   1. Agency Law including definition of who is an agent, what are his functions, who can become an agent, the kind of business he can procure, etc.

   2. Agents' Regulations

   3. Contract Act

   4. Various intermediaries in the insurance market-agents, brokers, surveyors, consultants, etc.

   5. Difference between and agent & a broker and other intermediaries

   6. Methods of remunerating the agent

3. LEGISLATIVE AND REGULATORY MATTERS

   1. Insurance Act, 1938

   2. Marine Insurance Act, 1963

   3. General Insurance Business Nationalisation Act, 1972.

   4. Insurance Regulatory & Development Authority Act, 1999

   5. Carriers Act, 1865

   6. Indian Stamp Act, 1899

   7. Public Liability Insurance Act, 1991.

   8. Motor Vehicles Act, 1988

   9. Consumer Protection Act, 1986 & Ombudsman Scheme

   10. Workmen's Compensation Act, 1923

   11. Sale of Goods Act, 1930

4. PROCEDURE FOR BECOMING AN AGENT

   1. Pre-requisite for obtaining a license

   2. Insurance company sponsorship

   3. Obtaining a licence-minimum age, educational qualification, practical training

   4. Maintenance & Duration of license

   5. Termination of License: Revocation or Suspension/ Termination of Appointment

   6. Unfair Practices: Rebates; Prohibited Inducements and Discrimination; Misrepresentations & incomplete comparison; False statements regarding insurance companies financial condition

5. FUNCTIONS OF THE AGENT

   1. Proposal Form and other forms of grant of cover

   2. Gathering all material and relevant information to the risk including signature of the customer on the proposal form.

   3. Explaining the terms, conditions, coverages, exclusions under the policy

   4. Advance payment of premium before acceptance of the risk: Sec. 64VB of Insurance Act, 1938

   5. Ensuring delivery of policy to the insured

   6. Helping the customer in lodging the claim and completing all formalities

6. COMPANY PROFILE

   1. Organizational Set-up of the company.

   2. Corporate Mission

   3. Strengths of the company

   4. Market Share

   5. Product details

   6. Promotion Strategy

   7. Product Pricing

   8. Distribution Channels available with insurer - their relative merits and demerits

7. FUNDAMENTALS/ PRINCIPLES OF GENERAL INSURANCE

   1. Utmost Good Faith

   2. Indemnity

   3. Insurable Interest

   4. Subrogation

   5. Contribution

   6. Proximate Cause

8. FINANCIAL PLANNING AND/TAXATION

   1. Premium rates charged in policies

   2. Tax benefits under selected insurance policies

   3. Comparison between different products offered by various insurers vis-à-vis premium chargeable, coverages, etc.

9. CLIENT NEEDS AND ANALYSIS TRAINING

   1. Salesmanship - An Introduction

   2. Selling Process

   3. Pre-Approach

   4. Interview

   5. Objection

   6. Closing

   7. Service

   8. Consumer Education

10. PROPER USE OF GENERAL INSURANCE PRODUCTS

    1. Products available in the general insurance market

    2. Scope of coverage some of the important policies

    3. Matching of the customers needs & requirements to that of the products available.

    4. Code of Advertisement & Publicity

11. RATING

    1. Tariffs

    2. Basis of Rate Making

    3. Market Agreements

    4. Importance of Data Base

    5. Role of TAC

12. INSURANCE DOCUMENTS

    1. Insurance Forms

    2. Proposal Forms

    3. Cover Notes

    4. Certificate of Insurance

    5. Policy Forms

    6. Endorsements

    7. Renewal Notice

    8. Other Insurance Documents related to insurance

13. UNDERWRITING

    1. Fire Policies: Scope; Coverage; Exclusions; Conditions; Premium

    2. Marine Policies: Scope; Coverage; Exclusions; Conditions; Premium

    3. Miscellaneous Policies: Scope; Coverage; Exclusions; Conditions; Premium

    4. Motor Policies: Scope; Coverage; Exclusions; Conditions; Premium

    5. Engineering Policies: Scope; Coverage; Exclusions; Conditions; Premium

    6. Basis of fixing the sum insured under different policies.

    7. Discount, Loadings, etc.

    8. Management of Risks

14. HEALTH INSURANCE

    1. Long Term/ Short Term Policies

    2. Annual Policies

    3. Unit Linked Policies

    4. Post Retirement (Bhavishya Arogya) Type plans

    5. Group Medical Insurance Schemes

    6. Basic Hospital, Medical and Surgical Policies

    7. Coverages, Exclusions, Premium. Cumulative Bonus

    8. Time limit on certain defences, reinstatement, Grace period for renewal

    9. Pre-existing disease clause, maternity benefit

    10. Notification of claim, doctor's report, claim form, payment of claims

15. GOVERNMENT SCHEMES/ PROGRAMMES ON INSURANCE

    1. Details of different Government insurance schemes like Crop insurance, PASS, Landless Agricultural Scheme, Solatium Fund

    2. Subsidy provided by the Government for underwriting the schemes

16. RURAL INSURANCE

    1. Definition of rural areas

    2. Rural Insurance Schemes

    3. Targets in terms of total premium which should be completed by the agent

    4. Penalties for not meeting the laid down stipulations

    5. Special skills to market rural insurance schemes

    6. Details of Schemes specially designed for the rural areas.

17. CLAIMS

    1. Preliminary Procedure

    2. Investigation and Assessment

    3. Surveyors and Loss Assessors

    4. Claims Documents

    5. Arbitration

    6. Limitation

    7. Settlement

    8. Loss Minimisation & Salvage

18. PROVISIONS AND DIFFERENCES IN POLICY CONTRACTS

    1. important differences to be highlighted

    2. Difference between Breach of Warranty & Condition

    3. Endorsement

    4. Drafting of a Cover Note

19. AGENCY COMMISSION STRUCTURE

20. PERSONAL DEVELOPMENT

    1. Personal Business Goals - Understanding the competition and enhancing time management skills.

    2. Marketing and Sales opportunities - Identify target markets and build relationship skills in the total planning sale.

    3. Target Marketing - Develop the prospect customers profile and focus on new profitable target markets.

    4. Review the expanding market of Aging adults

    5. Business Continuity - Emphasis on retaining the client by providing him upto date information on the changes taking place, the benefits that he may enjoy because of changes in rules/ regulations/ change in company policy, sending out renewal notices, etc.

21. BEHAVIOURAL ASPECTS

    1. Motivation

    2. Morale

    3. Communication Skills

    4. Persuasive Skills

    5. Analytical Ability

22. FEEDBACK TO COMPANIES ON CUSTOMERS REQUIREMENTS WITH REGARD TO THEIR INSURANCE NEEDS AND MISCELLANEOUS MATTERS

    1. New requirements of the customers

    2. Modifications on the coverages, rates, etc. of the customers

    3. Code of conduct laid down by IRDA

    4. Penalties

    5. Dispute resolution forum set up by IRDA for adjudication of disputes between the Agent and customer/ insurer.

    6. Feedback to IRDA on the nature of disputes & methods of resolution.