Contents
- Trade and Commerce
- Nature of work
- LIC & GIC
- Self Study Program
- Courses Offered in the Finance Sector
- Life Insurance Agency Course For S.S.L.C Passed Canidates
- Institutes Offering Courses In Insurance
- G.I.C Agents Course For S.S.L.C Passed Candidate
- Technical Qualification For Typist
- Insurance Agents
- Qualification For Obtaining Licenses
Trade and Commerce
Trade and commerce are the skeleton of modern economy. Banking and insurance are its flesh and blood. So new careers have a predominant importance in the financial sector. Now the amalgamation of international companies is a fashion and means. It requires tremendous funds and is accumulated through the banking sector.
Nature of work
Corporate finance monitors the financial aspects of the institution; they administer the cash flow, evaluate the financial health of the company and assess the future prospects of the business.
Specifically this area deals with:
- Financial Accounting
- Management Accounting
- Financial Management
- International Financial Management
- Invest Management
- Financial Services
- Project Planning
- Venture Capital
- Credit Eating
Employment Avenues
There are plenty of job openings in the field of insurance, corporate sectors, financial and leasing companies.
Actuarial
LIC & GIC
LIC deals with Insurance of life where as GIC and its subsidiaries (Oriental Insurance. Now India Assurance, United India Insurance and National Insurance) all deals with everything but life.
For the Actuarial work a B.Sc in Mathematics/Statistics/Economics will be a good start. A postgraduate or honors qualification is better.In India’s “Fellow Member” of the Actuarial Society of India (ASI) a Professional body is called in actuary. The ASI prescribes a course of study and conducts examinations as well. Most aspirants join an actuarial department of an insurance firm as apprentices and study the ASI course alongside. It is hard work but actuaries command very good salaries.
Self Study Program
For those who like international exposure and recognition the Life Officers Management Association (LOMA) in the U.S. offers self study program that will earn a successful candidate the Certificate of Fellow of Life Management (FLMI) people who are already working in life insurance firm usually take the Program FLM is not a certificate for any one thing but a structural to help insurance personal become better at what they do.Several multinational life insurance firms are member partners of LOMA and nominate their meritorious employees to take up the FLM course
Courses Offered in the Finance Sector
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Course
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Institution
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Eligibility
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Duration
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1. M.F.M. (Master of Financial Management)
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1. Pondichery University
2. Bharatidasan University
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Graduation
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Mode of admission is through entrance
Examination
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2. M.F.M. (Master of Financial Management)
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1. Aligarh University
2. University of Lucknow
3. Delhi University
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Graduation
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3. M.F.M. (Master of Financial Administration)
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1. University of Bombay
2. Bangalore University
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Graduation
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4. D.B.F (Diploma in
Business Finance)
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I.C.F.A.I.
Kochi, Hyderbad and
Kozhikode
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+2
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ICFAI is a Private
University
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5.C.F.A
(Chartered Financial
Analyst
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I.C.f.A.I
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+2 with
Degree
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+2 for foundation Course
Degree for
Preliminary
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6. B.A. Finance
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Utkal University
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+2
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Admission through in entrance test.
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7.P.G.D.F.M.
(Post Graduate Diploma in Financial Management)
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IGNOU
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Graduation
With 3 years
Experience
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|
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8. MBA
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IIM-B
www.iimb.emet.in
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Graduation
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Two courses in insurance and risk management as part of its M.B.A Programme.
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9. (i) Diploma in Insurance and Risk
Management
(ii) Diploma in Insurance and IT
(iii) P.G.Diploma in Insurance Risk Management
(iv) Bank assurance
Training
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The National Institute of Insurance Commerce and Banking Bhopal Accredited to the IRDA
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+2
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Bank assurance training in the selling of Insurance products through banks
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10. B.Com with Insurance
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Andhra University
Visakha Pattanam
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+2
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11. B.A with Insurance
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Nagarjuna University
Nagarjuna Nagar, Guntur
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+2
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Other useful websites are ww.bimaonline.Com and Life Insurance Agency Course for S.S.L.C. Passed Candidates:-
- Govt. Model Senior Secondary School, Sankaracharya Marg, New Delhi
- Model Senior Secondary School, Passchim Vihar, New Delhi
- Govt. Model Senior Secondary School R.K.Puram, New Delhi
Career opportunities in insurance sector will be enormously increased due to the absence of 47 foreign companies in India.
Institutes offering courses in Insurance
- Insurance institute of India. www. Insuranceinstituteof India.com
- Professional training course (Distant learning)
- International Institute for insurance and finance Hyderabad.www.iiffindia.Com
- Narsee monjee institute of management studies, www.nmims.edu
- 2 year MBA with full credit paper on insurance or a specialization in finance with risk management as an elective
- One year post graduate diploma in Actuarial Science
- ICFAI University of the institute of Chartered Financial Analysis of India, multiple locations. www.ocfao.org
- Two year MS in insurance management
- MBA with specialization in insurance and risk management
- Bharatidasan University Bharatdasan Institute of management
Trichy www.him.edn.
MBA with courses in insurance and risk management
- Center for insurance and risk management
- Birla Institute of management Technology
- Sector IV, Pushpavihar, New Delhi -111117 Ph + 91-11-26969254
GIC Agents Course for S.S.L.C. Passed Candidate
- Govt. Model Senior Secondary School, Gulabibad, New Delhi
- Govt. Boys Senior Secondary School Chandar Nagar, New Delhi
- Govt. Girls H.S.S No. IB Block Janakapure, New Delhi
- Govt Girls Senior Secondary School No.2, New Delhi
Job Avenues
LIC Assistant/Typist/Stenographers
Qualification
Academic: S.S.L.C. with 60% marks or 50% marks in Degree level (45% for Arts and Commerce).
Technical Qualification for Typist
Minimum type writing speed 40wpm in English and 25wpm in Hindi.
Stenographers: Minimum speed of 100wpm in shorthand and 40wpm in typewriting in English.
Relaxation in age limit and marks is given for SC/ST/PH/Executive men as per rule
Age limit: 18 to 24 years.
Selection procedure: On the basis of written test and interview.
Insurance Agents
The insurance Act 1938 lays down that an insurance agent will be issued a license under section 42 of that Act by the IRDA or an officer authorized by it in this behalf. This IRDA has Vide regulation 3 of the licensing of insurance agent regulation 2000, authorized designated person being officers of insurance, to issue such licenses.
Qualification for obtaining Licenses
- Be at least 18 years
- Should have passed 12th standard or equivalent examination
- Should have undergone practical training for at least 100 hours in life or general insurance business
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