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INSURANCE INSTITUTE OF INDIA

 
History
The Institute is a professional body serving the cause of the Insurance Industry. The Institute conducts examinations at three levels: Licentiate, Associate ship and Fellowship as also examinations – Certificate in Foundations of Casualty Actuarial Science (General Insurance) and Certificate in Insurance Salesmanship. The Insurance Institute of India (Regd.) formerly known as Federation of Insurance Institutes (J.C. Setalvad Memorial) (Regd.) was established in the year 1955, for the purpose of promoting Insurance Education & Training in the country.
Membership
The membership of the Institute is through associated Institutes. There are at present 91 Associated Institutes spread all over the country. The Sri Lanka Insurance Institute, The Sri Lanka Insurance Academy and The R.I.C.B. Insurance Institute, Bhutan are the affiliated Institutes outside India.  The members of the Associated Institutes and the Affiliated Institutes automatically become the members of the Institute.

 The Life Insurance Corporation of India, The General Insurance Corporation of India, The New India Assurance Company Ltd., The Oriental Insurance Company Ltd., National Insurance Company Ltd., and United India Insurance Company Ltd. are corporate members.
In its endeavor to spread Insurance education across the breadth of country and
also to bring professionalism in the domain of Insurance; Insurance Institute of
India has decided to engage reputed educational Institutes as its “Accredited
Learning Centres”
 
 
Insurance Institute of India
Accredited Learning Centres(IIIALC)
 
In its endeavor to spread Insurance education across the breadth of country and
also to bring professionalism in the domain of Insurance; Insurance Institute of
India has decided to engage reputed educational Institutes as its “Accredited
Learning Centres”
the programmes    of insurance institute of India popular all across the country , it is decided by the institute to have tie up with local education and training institute and professional education bodies for conducting insurance course for III examination.
 
 
 
Eligibility Criteria for Accreditation:-
 
1) Education Institutions which are registered either as company or society
are eligible.
2) Institutions should have good reputation and have been in the education
field for a minimum period 5 years.
3) Associated institutes of Insurance Institute of India also will be eligible for
the scheme.
 
 
 
Role and Responsibilities of IIIALC to III:-
 
1) IIIALC will enroll candidates for III’s various examinations.
2) IIIALC will supply course material to the students.
3) IIIALC will collect Membership form, Examination forms along with
relevant fees from the students on behalf of III.
4) IIIALC will provide coaching facility to the candidates enrolled for the
examination of III. The fees to be charged will be decided by the
respective IIIALC itself.
5) IIIALC will be required to send a report in the prescribed form to III once in
a year on the activities undertaken by them as IIIALC of Insurance
Institute of India.
6) III may allow one or more IIIALC at any c exclusive right of jurisdiction to any IIIALC.
7) Any organization having multicity operation and interested to get approved
in more than one place, should apply separately for each station.
 
 
Privileges from Insurance Institute of India to IIIALC: -
 
1) A certificate of affiliation will be issued to the IIIALC, which must be
displayed in the premises of IIIALC.
2) III will place the list of IIIALC in examination handbook and other relevant
materials.
3) III will be sending its journal/ one set of study books and any other
publication as a compliment (existing and revised/new books as and when
published for the library)
4) III will give 15% discount exclusive right of jurisdiction to any IIIALC.
5) IIIALC will be allowed to print/distribute notes/study material/solved
question papers/model question papers prepared by them to their
students with due intimation to III with a copy of the same.
 
 
 
Period of Accreditation, Renewal and Accreditation Fees:-
 
1) Accreditation will be decided on the basis of the information provided in
the prescribed application form by the interested institutions/organizations
for IIIALC.
2) Local Institutes need not to pay any Accreditation fees or Renewal fees.
3) For other than local institutes at the time of initial Accreditation,
Accreditation fee@ Rs.30000/- to be remitted to III for 3 years.
4) Renewal is subject to review of the performance of the IIIALC, their
adherence to the conditions.
5) Renewal fees will be Rs.30,000/- for three years or as prevailing at the
time of renewal.
6) If any IIIALC wants to withdraw after accreditation or is terminated by
Insurance Institute of India from the scheme in between the period of
accreditation no refund of fees will be made for the remaining period of
accreditation.
 
 
 
Code of Conduct of IIIALC:
-
1) Each IIIALC has to run classes in keeping highest professional standards.
2) The IIIALC should not involve in any kind of activities, which will damage
the reputation of the Insurance Institute of India in particular, and
Insurance Industry in general.
3) Associated Institutes and IIIALC will be complementing to each other to
attain the objectives of Insurance Institute of India.
4) IIIALC faculty/Management will under no circumstances interfere in the
examination process.
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