The Indian insurance industry has witnessed a tremendous growth over the last decade. Both the private and public players in the life and non-life insurance sector provide various options for the common people to secure their future by managing risks in a logical way. Apart from this the industry has also created a number of career and job opportunities for the youth of the country. Today thousands of graduates holding degrees in accounting, banking and finance are opting for a career in this field. As there are varied number of posts, job aspirants find a greater number of opportunities based on their skill and eligibility.
If you want to pursue a career in the insurance sector, you must research about the relevant career, eligibility criteria and job opportunities in this field. Here we provide you some relevant information that will help you before you make the final decision to build a career in this field:
In order to build a career in the insurance industry, you have to clear the Actuarial Society of India's entrance examination. You have to clear your higher secondary or equivalent exam and then appear for the entrance exam.
You have to get an authentic license through a training program to work in this sector. You can look for training and fellowship programs like Associateship, Fellowship and Licentiate conducted by the Insurance Institute of India.
There are a number of job opportunities in this field. There is no dearth of lucrative offers if you perform well in the exams. Here we give you some examples of the varied posts:
Insurance Agents: You have to clear 10+2 and undergo 100 hours of training session by the particular insurance company that is based on the syllabus prescribed by IRDA. Afterwards these agents have to clear an examination conducted by IRDA.
Composite Agent: The eligibility criteria is same as that of an insurance agent. Additionally, they have to appear for one more test conducted by IRDA .
Administrative Officer and Assistant Officer: Any graduate or post-graduate having a minimum of 50% marks from a recognized university can apply. They should be between 21 and 28 years of age. They are the 1st class officer group who have to go through a probation-cum-training phase for a period of 6 months.
Development Officer: They are the 2nd class officer who are primarily responsible for the development of the insurance policies. A graduate between 21 and 26 years of age can apply for this post. Those who are selected have to serve as apprentice for 1 year.
Besides this, you can also apply for an insurance surveyor, actuaries, clerks, telephone operator, machine operators, etc. As various types of insurance companies, national and multinational are operating in this field, there are no shortage of careers and job opportunities.