Career in Insurance

As a student, you may not want Insurance as a career choice after your graduation degree.

Their are very few students who really want to make career in insurance . Nowadays, many insurance companies offer part-time jobs to the students for company benefits . But if you are interested you are advise to take your Master’s Degree in Insurance Management so that you can get a good understanding of the subject.

Introduction

There is an agreement or agreement between the insurer or insurance insurer and the insured person, under which the insured person pays a fix amount on a monthly or annual basis as a premium. In turn the insurer promises that someone in case of trouble, a large sum will be paid to the insured person. Getting insurance is always good because you can get a lot of help from any trouble watch. such as when a member of a family gets sick or at the time of illness or in case of an accident or theft. Insurance companies have different policies for each of the conditions that someone can imagine.

The most popular insurance policies sold by various companies are Life Insurance, Travel Insurance, Vehicle Insurance, Health or Mediclaim Insurance and Home Insurance. Many government bodies, such as life insurance corporation, national insurance company and private companies such as ICICI Prudential, Max New York, Birla Sun Life, Bajaj Allianz, Tata AIG and other companies sell a variety of insurance policies.

The following course content is offered under Master’s degree in Insurance:

1. Principles and practices of Life and General Insurance

2. Life and Non Life Insurance Domains

3. Insurance Law

4. Life Insurance Underwriting and Risk Management

5. Liability of Insurance and Life Insurance Claims

6. Reinsurance and Life Insurance Products

The goal and purpose of this study is to introduce you well to various aspects of insurance.

Start It today

If you have selling skills and you want to solve problems of people and want to provide them financial security … then insurance is a perfect career choice for you. But you never choose insurance as your career only to earn money. On the contrary, you should understand the real value of insurance for the world at the beginning.

Is this a perfect career for me?

As a student, after completing your school education or in college days, if you think that you have great PEP skills and selling skills, then insurance is definitely a suitable course for you. You can work as an Insurance Agent or Sales Executive – Insurance Company in a famous company. For this job, you have to pass an agent exam conduct by IRDA / IRDA (Insurance Regulatory Authority of India).After working a few years you can work as an insurance manager.

In order to adopt insurance as a career option, two skills are needed mainly: The first skill is the ability to make friends with ease. The second important skill is to understand the problems of people and explain them about the need and importance of insurance. You can explain to the people that the insurance provides a security cover for any non-occurrence that may occur in the future.In relation to the least amount of money, people feel safe for themselves and their families due to insurance.

How much does that cost?

The average annual fee of MBA Insurance Program is Rs 1 lakh to 2 lakhs depending on your university or school selection. There are some excellent insurance schools in India – ICFAI, NIA and Birla Institute of Management and many other schools offering various distance education courses, diploma programs and regular courses.

Funding / Scholarship

Actually loans are not made available only for insurance courses. But, professionals can study through their company’s sponsorships. Similarly, through the banks like State Bank of India, Up to 7.5 lakh education loans are available there.

Job Prospects

Job prospects are increasing day by day for an insurance professional. You can work as an insurance agent and your principal job will be to sell insurance policies to people. You will have a Target Amount for this work which you will earn through premiums. In return you will be get commission. Other jobs include Sales Manager – Insurance under which you have to hand over the Team of Insurance Agents to sell various Insurance policies.

Pay packet

In a insurance company, a fresher can get a pay package of approximately Rs. 10,000 / – to Rs. 30,000 / -. In Higher Positions you get can earn 1 lakh each month. If you have a master’s degree in business administration from a famous business school, then you can expect to get a good salary in your first job.

Demand and supply

The demand for insurance professionals is quite high nowadays. According to Statistics, up to 14% of the world population has reach its reach by insurance professionals, which means that there are still plenty of possibilities for 86% of the population. Therefore, demand is significantly higher than supply mainly. But only those who are interested in business ability and the subject matter are needed.

Positive / Negative Aspects

Positive aspects:

The industry is developing very fast. Work opportunities are increasing day by day for people with great peeple skills and sailing skills.
The entire development of the industry will reach its peak in the coming years. Insurance sector is being seen as a future career for students and others.
There are many professional institutes like NIA in Pune who offer excellent courses in insurance to students. Apart from this, institutions like Birla Schools and ICFAI offer different courses in both Regular and Distance Education.

Negative aspects:

To persuade people to buy different insurance policies, there should be great skills for students or insurance professionals to explain their point of view. Sometimes, it can be dislike too.
Many companies are joining this business day and night. For example, just recently Reliance Company has stepped into the insurance business. Because of this, it is very difficult to rely on reliability of an organization very often

Top companies

On the job front, base on the random statistical information, India’s top 10 insurance companies are: Life Insurance Corporation of India Ltd. (LIC), Bajaj Allianz General Insurance, ICICI Lombard General Insurance, ICICI Prudential Life Insurance, Birla Sun Life Insurance, Tata AIG General Insurance, New India Assurance Company, IFFCO Tokyo General Insurance, Oriental Insurance Company and HDFC Standard Life Insurance

Tips To Get A Job

After getting your graduation or post-graduation degree in insurance, you can follow the following tips to get a job as an insurance professional:

Keep checking the websites of the good insurance companies regularly for job openings and apply for the proper job.
Enhance your friendship and identity intensity so that you can get a reference from them to talk to insurance deals in the future. Read all the necessary books regarding selling skills, business accent, and business communication.
Stay update with the latest World Environment environment and those new strategies that are adopted.
Be update with various lodge and regulation and upcoming modifications made by the IRDA that can be apply in the insurance policies.
Stay update with top finance companies and their stock exchange status. So that you can do your insurance sails and negotiate / negotiate accordingly.

Stay with us for more updates