Hi,

Work opportunities in insurance sector are enormous. Those who satisfy eligibility qualification works under following capacities in Insurance companies of India:

• Administrative Officer
• Assistant Administrative Officer
• Development Officer
• Insurance / Composite Agents
• Insurance Surveyors
• Actuaries
• Insurance Underwriter
• Investment Professionals

These are some indicative posts related to insurance business. However actual positions in an insurance company may vary.

• Insurance Agents

Agents are not on the payrolls of the insurance company. The insurance agents get a fixed commission on each policy they (insurance-agent) manage to sell. People who wish to become insurance agents are required to undergo 100 hours of training by the respective insurance company.

Once the training is complete, the candidate is eligible to appear for an online examination conducted by the Insurance Regulatory Development Authority (IRDA) with at least 50 per cent marks set for qualifying.

• Composite Agent

Composite Agent is the one who sells both life and general insurance policies. One has to put in 100 hours promoting life insurance products assuming that you are a general insurance agent. A life insurance agent, before appearing for another exam, has to dedicate 50 hours towards promoting general insurance products.

A composite agent has to appear for another test also (conducted by the I.R.D.A.)The agent is supposed to renew his license after three years, by putting in another 25 hours (and 50 hours for composite insurance agent) of training.

An agent can register under a development officer in any insurance company. The training institutes are accredited by the I.R.D.A. and the insurance Company merely sponsors its agent(s).

An agent works with the Development Officer in the insurance Company and the credit for the policy of the insurance agents goes to the Development Officers within the organization.

Nevertheless, this job is as good as freelancing. Secondly, the insurance companies also provide incentive schemes for the insurance agents from time to time.

• Insurance Surveyors

Surveyors, Loss Adjusters and Assessors are technically qualified professionals who perform the job of assessing the losses, according to their qualifications and experience. They work as 'consultants' for the company.

A surveyor with a background in mechanical engineering assesses industrial accidents. Here the surveyor would investigate, evaluate, assess, adjust and determine the liability, negotiate and then finally submit a report.

A surveyor must hold either a fellowship or associate ship from one of the following:

• The Institute of Insurance surveyors and Adjusters (IISA), Mumbai
• A degree or diploma in architecture from a recognized university or institute
• Fellowship or Associate-ship from the Institute of Chartered Accountants or Costs and Works Accountants
• A degree or diploma from a recognized institute of engineering or a degree or diploma in naval architecture.

They have to apply to the IRDA for a license that further categorizes them as Class A, B, C, or D. A surveyor, loss adjuster or assessor is the only specialized link between the insurers and the insured.

Institutes offering Insurance Courses in India :-

• Institute of Insurance and Risk Management, Hyderabad
  Plot No:1149, Road No.57, Jubilee Hills , Hyderabad - 500033

• Acharya Nagarjuna University Centre for Distance Education,
  Nagarjuna nagar Guntur Dist. - 522510
  Andhra Pradesh

• Annamalai University
  South Arcot, Vallalar , Annamalai Nagar ( Cuddalore Dist. ) - 608002
  Tamil Nadu

• Manonmaniam Sundaranar University Directorate Of Distance and Continuing Education,
  Tirunelveli - 627012
  Tamil Nadu

• Pondicherry University Directorate of Distance Education,
  R.V. Nagar, Kalapet , Puducherry - 605014

• Punjabi University Department Of Correspondence Studies
  Patiala - 147002, Punjab

• Institute of Actuaries of India
  302, Indian Globe Chambers,
  142, Fort Street, Off D N Road, Mumbai - 400 001
  Tel: +91- 22 - 67843333 Fax: +91-22 - 67843330

Hope this helps.

Good luck.