Gain practical skills, sharpen strategic insights, leverage AI, and supercharge career growth
- Comprehensive introduction to the principles and practices of life insurance from product design to claim settlement.
- Covers both theoretical foundations and practical procedures crucial for all life insurance operations.
- Prepares students for careers in the insurance industry by imparting deep knowledge of key concepts, regulations, and industry practice.
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Principles and Practice of General Insurance
Discover How We Efficiently Cover Every Detail?
Module 1: Fundamentals of General Insurance
- Definition, nature, basic principles and purpose of insurance
- Differences: Life vs General Insurance
- Functions and social relevance of general insurance
- Evolution of general insurance in India and globally
Module 2: Legal and Regulatory Environment
- IRDAI: Role, structure, and functions
- Insurance Contracts: Elements and documentation
- Key legislation: Insurance Act, Consumer Protection Act, Ombudsman scheme
Module 3: Types of General Insurance Products
- Overview and features of:
- Fire Insurance
- Marine Insurance
- Motor Insurance
- Health Insurance
- Liability Insurance
- Rural and Microinsurance
- Travel Insurance
- Crop Insurance & Weather-based Insurance
- Industrial All Risks (IAR) & Engineering Insurance
Module 4: Claims and Policy Servicing
- Claims lifecycle: Notification to settlement
- Roles of surveyors, assessors, and TPAs
- Documentation and timelines
- Fraud detection and redressal
- Customer service, grievance redressal mechanisms
- Role of AI in claims automation
Module 5: Distribution Channels and Market Practices
- Agency, Brokers, Bancassurance, Online
- Marketing strategies and ethics
- Insurance literacy and awareness campaigns
- Role of digital tools and CRM systems
Module 6: Financial and Operational Aspects
- Basic structure of a general insurer’s balance sheet
- Overview of premium collection, commissions, reserves
- Role of actuaries in pricing and reserving
- Importance of solvency and reinsurance
Module 7: Emerging Trends in General Insurance
- Insurtech and AI
- Climate change and catastrophe insurance
- Cyber Insurance and new-age risks
- Usage-Based Insurance (UBI)
- Blockchain in insurance
- Lessons from pandemics
Practical Knowledge from Industry Professionals
Our faculty’s extensive industry experience is the cornerstone of our exceptional insurance training