THE INSURANCE INSTITUTE OF INDIA

THE INSURANCE INSTITUTE OF INDIA

The Insurance Institute of India was established in 1955 for the purpose of imparting insurance education to persons engaged or interested in insurance. The main objectives of Insurance Institute of India are:

1. To run College and conduct Examinations, oral and written, in insurance theory and practice and related subjects for awarding certificates, diplomas and degrees to those interested in insurance.
2. To give oral and postal tuition's, prepare and supply reading materials and similar other educative methods for encouraging and assisting the study of any subject bearing on any branch of insurance.
3. To form and maintain a library.
4. To offer scholarships, grants and prizes for research or any other educational work bearing on insurance.

 Membership: There are at present 91 Associated Insurance Institutes spread all over the country. The Sri Lanka Insurance Academy, Insurance Institute of Sri Lanka and the Royal Insurance Corporation of Bhutan Insurance Institute are affiliated to III. The members of the Associated Institutes and the Affiliated Institutes automatically become the members of III. Please refer to List of Associated Institutes and Affiliated Institutes.

Governing Body: The Governing Body of III is its Council which functions through its Committee, the Administration Committee and the Board of Education. The Board of Education is the supreme body in all matters relating to education and examinations.

Secretariat: III is headed by the Secretary-General. He is assisted by Director, Secretaries, Dy. Secretaries, Asst. Secretaries, Officers and Staff.

College of Insurance is situated in the same premises as of Insurance Institute of India. College is an institution of Higher learning in Insurance. Training on Life insurance Subjects, General Insurance subjects and various Management subjects are provided to insurance personnel at different levels. Training to Insurance Brokers and Insurance Surveyors are also provided in College of insurance.

 Accredited Learning Centers are formed to fulfill the Institute objectives in providing study materials, training and tuition facilities and other learning aids to the candidates who prepare for the Institute’s examination. 

Examinations: 

Certificates and diplomas issued by III to candidates passing its examinations are recognized by the Insurance Regulatory and Development Authority and the insurers in India and abroad. These qualifications are also recognized by similar Institutes e.g. Chartered Insurance Institute (CII) in U.K., Life Office Management Association (LOMA), American Institute of Chartered Property and Casualty Underwriters (CPCU) (The Institutes) in U.S.A. and Insurance Institute of Canada. (Please refer to “Cross Recognition of III Qualifications” 

The IRDA has recognized the Institute as the examining body to conduct pre-recruitment examinations for insurance agents as well as Pre-licensing test for Insurance Surveyors.

III conducts examination for the award of Certificates / Diplomas as under:

1. Licentiate, Associateship & Fellowship of III.
2. Certificate in Insurance Salesmanship (CIS)
3. Certificate in Foundation of Casualty Actuarial Science(Non-Life) 
4. Specialized Diploma (Marine) 
5. Specialized Diploma (Fire) 
6. Specialized Diploma in Casualty Actuarial Science (Non-Life) 
7. Pre-licensing test for Insurance Surveyors on behalf of IRDA

Tuition Facilities: Oral tuition classes are organized by the Associated Institutes and Accredited Learning Centers for preparing candidates for the examinations conducted by III. (Please refer to Lists of Associated Institutes and Accredited Learning Centers for contact details)

e-Learning: Institute has also introduced e-learning Modules providing as an additional tool of learning at Licentiate level.

Online Examinations for Licentiate Level Papers:

Online examinations are being introduced for Licentiate level. The 1st examination will be held in August 2011 only for candidates who have registered prior to 30th April 2011. Candidates intending to take up Paper number 01, 02, 11 & 14 can appear for examinations on online mode at Centers in Bangalore, Chennai, Delhi, Kolkata and Mumbai from 21st August 2011 to 26th August 2011. Candidates will be allowed to appear for any 2 papers a day. Candidates interested in taking up Online examinations should indicate their option on III website up to 20/7/2011. They will be contacted by email and allowed to book their examination slots during July 2011. 

The examination fees will be the same as off-line. On-line examinations will be available only in English as of now. The pass marks also will be 60%, same as off-line examinations. Any correspondence in this matter should be addressed to sant@iii.org.in.

Study Materials: The III publishes Study Materials for all the subjects prescribed for its examinations. In addition e-Learning (English) is available for Licentiate subjects

Research: The III encourages research and advanced studies in the area of insurance and related subjects.

Knowledge Management Centre: Institute has formed Knowledge Management Centre to arrange seminars on insurance and related subjects, to arrange research work on various technical subjects of Insurance and to publish news letters and Journals etc.

• 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.

• The D. Subrahmaniam Award is given to the best essay or work of research submitted by members who are not more than 45 years of age. 

• The III invites original technical papers on specified insurance related topics. The author / authors of papers of high quality are invited to attend the annual conference of the Institute.

• III encourages Associated Institutes to organize research / advanced studies in Insurance on a project basis. The reports of approved projects are published and released at the annual conference.

Prizes: Different prizes are awarded for outstanding performance in different Examinations. (Please refer to Prize Scheme for details)

Anand Khemka
+91-9910936925
+91-8287041341