Certificate in Insurance and Risk Management

Description

Course Name: Certificate in Insurance and Risk Management

Course Id: CIRM/Q1001.

Eligibility: 10th Grade (high School) or Equivalent.

Duration: Three Month.

Objective: The Certificate in Insurance and Risk Management is a specialized program designed to provide individuals with foundational knowledge and practical skills in the fields of insurance and risk management. This course covers essential concepts such as risk identification, assessment, and mitigation, as well as the principles and practices of insurance, including types of insurance policies, underwriting, claims management, and regulatory frameworks. It prepares students to handle risks and manage insurance portfolios effectively in various industries.

 How to Enroll and Get Certified in Your Chosen Course:

 Step 1: Choose the course you wish to get certified in.

 Step 2: Click on the “Enroll Now” button.

 Step 3: Proceed with the enrollment process.

 Step 4: Enter your billing details and continue to course fee payment.

 Step 5: You will be redirected to the payment gateway. Pay the course and exam fee using one of the following methods:
Debit/Credit Card, Wallet, Paytm, Net Banking, UPI, or Google Pay.

 Step 6: After successful payment, you will receive your study material login ID and password via email within 48 hours of fee payment.

 Step 7: Once you complete the course, take the online examination.

 Step 8: Upon passing the examination, you will receive:
• A soft copy (scanned) of your certificate via email within 7 days of examination.
• A hard copy (original with official seal and signature) sent to your address within 45 day of declaration of result.

 Step 9: After certification, you will be offered job opportunities aligned with your area of interest.

Online Examination Detail:

Duration- 60 minutes.
No. of Questions- 30. (Multiple Choice Questions).
Maximum Marks- 100, Passing Marks- 40%.
There is no negative marking in this module.

Marking System:
S.No.	No. of Questions			Marks Each Question		Total Marks
1	10			5		50
2	5			4		20
3	5			3		15
4	5			2		10
5	5			1		5
	30					100
How Students will be Graded:
S.No.		Marks	Grade
1		91-100	O (Outstanding)
2		81-90	A+ (Excellent)
3		71-80	A (Very Good)
4		61-70	B (Good)
5		51-60	C (Average)
6		40-50	P (Pass)
7		0-40	F (Fail)

 Key Benefits of Certification- Earning a professional certification not only validates your skills but also enhances your employability. Here are the major benefits you gain:

 Practical, Job-Ready Skills – Our certifications are designed to equip you with real-world, hands-on skills that match current industry demands — helping you become employment-ready from day one.

 Lifetime Validity – Your certification is valid for a lifetime — no renewals or expirations. It serves as a permanent proof of your skills and training.

 Lifetime Certificate Verification – Employers and institutions can verify your certification anytime through a secure and reliable verification system — adding credibility to your qualifications.

 Industry-Aligned Certification –All certifications are developed in consultation with industry experts to ensure that what you learn is current, relevant, and aligned with market needs.

 Preferred by Employers – Candidates from ISO-certified institutes are often prioritized by recruiters due to their exposure to standardized, high-quality training.

 Free Job Assistance Based on Your Career Interests – Receive personalized job assistance and career guidance in your preferred domain, helping you land the right role faster.

Syllabus:

Introduction to Insurance and Risk Management: Definition and importance of insurance, History and evolution of insurance, Basic principles of insurance, Types of insurance (life, health, property, liability, etc.), Concept of risk and its types, Risk management process, Role of insurance in risk mitigation, Insurance industry stakeholders, Legal and regulatory framework of insurance, Ethics in insurance and risk management.

Principles and Practices of Insurance: Utmost good faith in insurance contracts, Insurable interest and indemnity, Contribution and subrogation, Principle of proximate cause, Reinsurance and its importance, Claims settlement process, Underwriting process and risk assessment, Role of actuaries in insurance, Insurance fraud and prevention, Emerging trends in insurance practices.

Life and Health Insurance: Concept and importance of life insurance, Types of life insurance policies, Life insurance underwriting process, Annuities and pension plans, Health insurance fundamentals, Group health insurance plans, Critical illness and disability insurance, Policyholder rights and obligations, Medical underwriting in health insurance, Claims and benefit settlements.

General and Property Insurance: Definition and scope of general insurance, Fire and burglary insurance, Motor vehicle insurance policies, Marine and aviation insurance, Engineering and contractor’s all-risk insurance, Agricultural and crop insurance, Home and property insurance, Business and industrial insurance, Liability insurance policies, Claims management in general insurance.

Risk Management Concepts
Understanding risk and uncertainty, Risk identification techniques, Risk assessment and analysis, Risk control strategies, Enterprise risk management (ERM), Financial risk management, Risk transfer mechanisms, Risk financing and retention, Business continuity planning, Case studies on risk management.

Insurance Law and Regulations
Overview of insurance laws and acts, Role of IRDAI and other regulatory bodies, Consumer protection in insurance, Legal aspects of policy contracts, Taxation of insurance policies, Compliance and regulatory reporting, Anti-money laundering measures, Insurance dispute resolution, International insurance laws, Impact of digitalization on insurance regulations.

After successful completion of the Certificate in Insurance and Risk Management program, graduates are equipped with knowledge of insurance products, underwriting, risk assessment, claims management, policy servicing, and regulatory frameworks. This certification prepares individuals for roles in insurance companies, banks, NBFCs, risk consultancy firms, and corporate risk departments.

---

🎓 Career Options After Certificate in Insurance and Risk Management

1. Insurance Sales Executive / Advisor

• Role: Promote and sell life, health, or general insurance policies; meet clients, explain features, and close deals.

• Salary Range: ₹2 – ₹5 LPA (fixed) + incentives up to ₹2–4 LPA

2. Insurance Claims Assistant

• Role: Assist in claim filing, documentation, and verification; coordinate with clients and surveyors.

• Salary Range: ₹2.5 – ₹4.5 LPA

3. Underwriting Assistant

• Role: Support underwriters in assessing risk, preparing quotes, and approving policies as per company guidelines.

• Salary Range: ₹3 – ₹5.5 LPA

4. Risk Management Executive (Entry Level)

• Role: Identify, analyze, and assess risks to the organization or clients; support risk mitigation planning.

• Salary Range: ₹3.5 – ₹6 LPA

5. Customer Service Executive – Insurance Sector

• Role: Handle customer queries, policy renewals, endorsements, and claim assistance via call or email.

• Salary Range: ₹2.5 – ₹4.8 LPA

6. Bancassurance Relationship Officer

• Role: Work at bank branches to cross-sell insurance products to customers visiting the bank.

• Salary Range: ₹3 – ₹6 LPA (including incentives)

7. Insurance Back-office Processor

• Role: Manage data entry, policy processing, and digital documentation for insurance operations.

• Salary Range: ₹2 – ₹3.8 LPA

8. Risk Survey Assistant

• Role: Assist risk surveyors in fieldwork such as inspecting sites, collecting data, and submitting risk reports.

• Salary Range: ₹2.8 – ₹5 LPA

9. Health / Motor Insurance Coordinator (TPA or Broker Firm)

• Role: Coordinate with hospitals or garages, check claim eligibility, and assist policyholders with approvals.

• Salary Range: ₹2.5 – ₹4.5 LPA

10. Freelance Insurance Agent / IRDAI-licensed Advisor

• Role: Sell multiple insurance products (life, health, motor) and earn commissions on premiums.

• Earning Potential: ₹20,000 – ₹1.5 lakh+/month (based on performance)

---

🧠 Key Skills Acquired

• Knowledge of Life, Health, and General Insurance products

• Risk identification and analysis

• Claims management procedures

• Insurance underwriting basics

• Regulatory guidelines (IRDAI rules, policies)

• Customer relationship and documentation handling

---

🏢 Sectors & Employers Hiring

• Insurance Companies (LIC, HDFC Life, ICICI Lombard, SBI General, New India Assurance)

• TPAs (Third-Party Administrators)

• Banks (Bancassurance Channel)

• NBFCs and Insurance Brokers

• Corporate Risk Departments

• Risk Advisory Firms (KPMG, Deloitte, etc.)

• Startup Insurtech Firms (Policybazaar, Digit, ACKO)

---

📈 Career Growth Path