INSURANCEINSURANCE
bybyP.S.R. MURTHYP.S.R. MURTHY
Brilliant InsuranceBrilliant Insurance
A. KNOW ABOUT INSURANCEA. KNOW ABOUT INSURANCE
What is Insurance?What is Insurance?• Insurance is related to the protection of the Insurance is related to the protection of the
economic values of assets.economic values of assets.
What is Risk?What is Risk?• The risk means that there is a possibility of The risk means that there is a possibility of
loss or damage.loss or damage.
ContractContract• When the insured pays the premium and the When the insured pays the premium and the
insurer accepts the risk the contract of insurer accepts the risk the contract of insurance is concluded.insurance is concluded.
Insurable InterestInsurable Interest• The owner of property has a right under law to effect The owner of property has a right under law to effect
insurance on the property.insurance on the property.
IndemnityIndemnity• To prevent one insured from making a profit out of his To prevent one insured from making a profit out of his
loss.loss.
A. KNOW ABOUT INSURANCEA. KNOW ABOUT INSURANCE
B. INDIAN INSURANCE B. INDIAN INSURANCE INDUSTRYINDUSTRY
INSURERSINSURERS
LIFE INSURERSLIFE INSURERS
GENERAL INSURERSGENERAL INSURERS
LIFE INSURERSLIFE INSURERS
3. BIRLA SUN
4. HDFC STANDRAD
1. LIC
2. BAJAJ ALLIANZ
LIFE INSURERSLIFE INSURERS
5. ICICI PRUDENTIAL
6. ING VYSYA
7. MAX NEW YORK
8. MET LIFE INDIA
LIFE INSURERSLIFE INSURERS
9. KOTOK MAHINDRA OLD MUTUAL
10. SBI
11. TATA AIG
12 . RELIANCE
13. AVIVA
LIFE INSURERSLIFE INSURERS
14. SAHARA INDIA
15. SHRIRAM
16. BHARTI AXA
17. FUTURE GENERAL
18. IDBI FORTIS
LIFE INSURERSLIFE INSURERS
19. CANARA HSBC ORIENTAL
20. AEGON RELIGARE
21. DLF PRAMERICA
22. STAR UNION DAI -ICHI
GENERAL INSURERSGENERAL INSURERS
1. THE ORIENTAL INSURANCE CO. LTD
2. THE NEW INDIA ASSURANE CO. LTD
3. NATIONAL INSURANE O. LTD
GENERAL INSURERSGENERAL INSURERS
4. UNITED INDIA ASSURANCE CO. LTD.
5. BAJAJ ALLIANZ GENERAL INSURANCE CO. LTD
6. ICICI LOMBOARD
7. ICICI LOMBOARD
GENERAL INSURERSGENERAL INSURERS
8. RELIANCE
9. ROYAL SUNDARAM ALLIANCE INSURANCE CO.LTD
10. TATA-AIG
11. CHOLAMANDALAM MS
GENERAL INSURERSGENERAL INSURERS
12. HDFC DRGO
13. STAR HEALH AND ALLIED INSURANCE CO. LTD
14. APOLLO DKV INSURANCE CO. LTD
15. FUTURE GNERALI INDIA INSURANCE CO .LTD
GENERAL INSURERSGENERAL INSURERS
16. SHRIRAM
17. BHARTI AXA
18. RAHEJA QBE
C. INSURANCE BUSINESSC. INSURANCE BUSINESS
C. INSURANCE BUSINESSC. INSURANCE BUSINESS2. MARINE INSURANCE1. LIFE INSURANE
3. FIRE INSURANCE 4. MISCELLANEOUS
D. ENTRY LEVEL POSITION D. ENTRY LEVEL POSITION FOR YOUFOR YOU
Assistant Administrative Officers are the entry-Assistant Administrative Officers are the entry-level management cadre post offered by GIC level management cadre post offered by GIC and LIC. and LIC.
These officers are trained in different spheres These officers are trained in different spheres of administration, accounts and development of administration, accounts and development and deal with policymaking, marketing and and deal with policymaking, marketing and procurement of business, as well as procurement of business, as well as management of funds. management of funds.
Graduates/postgraduates in any subject with a Graduates/postgraduates in any subject with a minimum of 50% marks minimum of 50% marks
Age group of 21-28 years are eligible for Age group of 21-28 years are eligible for appearing in the AAO exam of LIC or GIC. Age appearing in the AAO exam of LIC or GIC. Age relaxation as per rules.relaxation as per rules.
E. ELIGIBILITYE. ELIGIBILITY
F. EDUCATIONAL QUALIFICATIONSF. EDUCATIONAL QUALIFICATIONS
Fellowship or Associateship through exam held by Fellowship or Associateship through exam held by the Institute of Insurance Surveyors and Adjusters the Institute of Insurance Surveyors and Adjusters (IISA) Bombay.(IISA) Bombay.
A degree/diploma in architecture of a recognized A degree/diploma in architecture of a recognized universityuniversity
Fellowship or Associateship of the Institute Fellowship or Associateship of the Institute of Chartered Accountants or Cost and Works of Chartered Accountants or Cost and Works AccountantsAccountants
F. EDUCATIONAL QUALIFICATIONSF. EDUCATIONAL QUALIFICATIONS
A degree/diploma from a recognized A degree/diploma from a recognized engineering instituteengineering institute
A degree/diploma in naval A degree/diploma in naval architecturearchitecture
G. DOMAIN KNOWLEDGEG. DOMAIN KNOWLEDGE
knowledge of Actuarial Science which is built up knowledge of Actuarial Science which is built up on statistical evaluation of the financial and on statistical evaluation of the financial and economic implication of future contingencies economic implication of future contingencies and helps in calculation of insurance risk, and helps in calculation of insurance risk, premiums and pension programs etc. Those premiums and pension programs etc. Those recruited by the insurance firms are given recruited by the insurance firms are given suitable training. suitable training.
H. WHERE DO YOU GET IT?H. WHERE DO YOU GET IT?
Graduate course in Actuarial Science is offered by Graduate course in Actuarial Science is offered by Bombay University Bombay University
Postgraduate course in Actuarial Science is Postgraduate course in Actuarial Science is offered by Kalyani University. offered by Kalyani University.
Nowadays, with the opening up of the insurance Nowadays, with the opening up of the insurance sector many institutes have started offering sector many institutes have started offering specialised courses covering various aspects of specialised courses covering various aspects of the industry. These can be taken up as the industry. These can be taken up as regular/par time courses or even pursued through regular/par time courses or even pursued through correspondence.correspondence.
I. SELECTION PROCEDUREI. SELECTION PROCEDURE
Written test shall be Descriptive paper in Written test shall be Descriptive paper in English language comprising of Essay, Précis English language comprising of Essay, Précis Comprehension etc.Comprehension etc.
Application Fee: Rs.500/- (Rs.50/- for SC/ST)Application Fee: Rs.500/- (Rs.50/- for SC/ST)
Selection Procedure for General Insurance Selection Procedure for General Insurance Admin Officer consists of a written exam Admin Officer consists of a written exam followed by interview.followed by interview.
I. SELECTION PROCEDUREI. SELECTION PROCEDURE
Subsequent to interview, all the selected Subsequent to interview, all the selected candidates have to undergo pre-recruitment candidates have to undergo pre-recruitment medical examination.medical examination.
The written exam for Admin Officer Positions in The written exam for Admin Officer Positions in General Insurance consists of both Objective General Insurance consists of both Objective questions as well as Descriptive questions.questions as well as Descriptive questions.
I. SELECTION PROCEDUREI. SELECTION PROCEDURE
The Objective Paper consistsThe Objective Paper consists
The Objective paper consists of following four test The Objective paper consists of following four test sections:sections:
(i) Test of Reasoning.(i) Test of Reasoning.
(ii) English language.(ii) English language.
(iii) General awareness.(iii) General awareness.
I. SELECTION PROCEDUREI. SELECTION PROCEDURE
(iv) For the posts of Group A, B & C: Professional (iv) For the posts of Group A, B & C: Professional knowledge Test (Commerce/Accounts: Group A, knowledge Test (Commerce/Accounts: Group A, Engineering: Group B, Legal: Group C). For the Engineering: Group B, Legal: Group C). For the posts of Group D: Numerical Ability/Data posts of Group D: Numerical Ability/Data interpretation Test.interpretation Test.
As you might have found out, the first three test As you might have found out, the first three test sections are common to all while the fourth test sections are common to all while the fourth test section depends on for which post you have section depends on for which post you have applied.applied.
The Descriptive Test papers is a test in English The Descriptive Test papers is a test in English language and would comprise of Essay, Précis, language and would comprise of Essay, Précis, and Comprehension etc.and Comprehension etc.
I. SELECTION PROCEDUREI. SELECTION PROCEDURE
On the basis of relative Performance of On the basis of relative Performance of Candidates (i.e. marks scored) in the written Candidates (i.e. marks scored) in the written exam. The Company would decide the cutoff exam. The Company would decide the cutoff criteria and would call the qualifying criteria and would call the qualifying candidates for the interview. candidates for the interview.
I. SELECTION PROCEDUREI. SELECTION PROCEDURE
J. PERSONAL ATTRIBUTESJ. PERSONAL ATTRIBUTES
That will help the candidate to get That will help the candidate to get selected – how to pass the written selected – how to pass the written test and interviewtest and interview
That will help new recruit/entrant That will help new recruit/entrant to learn the job quickly, perform to learn the job quickly, perform successfully and earn reward and successfully and earn reward and recognition.recognition.
THANK YOUTHANK YOU