Career in Insurance Underwriters - options and opportunities
Career in Insurance Underwriters - options and opportunities - Introduction, options, opportunities, courses, institutes, exams etc.
Discussion
- RE: Career in Insurance Underwriters - options and opportunities -Rajani Sharma (11/28/11)
- Introduction
Insurance Underwriting means accepting liability of clients for possible losses. It involves identifying, evaluating and estimating the risk exposure and determines the premium to insure against the risk. Professionals who calculate the financial risk of insuring a business concern are known as Underwriters. They are the integral part of the organisation’s long term success and financial viability. Underwriters view and review applications for insurance coverage both for companies and individuals. They take care of risk management by assessing the fitness of an individual for the insurance services provided by an insurance firm.
Performance and growth of industry in India
Insurance has become a necessity for individuals as well as for business concerns. This profession is considered less subject to the recession as compared to the other professions and it has been assumed that the need of underwriters is going to remain constant througout time. Thus, candidates pursuing their career in this field have a secure career with growth opportunities.
Options and Opportunities
Today, an insurance underwriter has become an excellent career opportunity in Insurance sector with various job options to choose from. Underwriting has four categoriztion namely Life Insurance, health Insureance, Mortgage insurance and Property Insurance. Once a candidate has decided for underwriting then he needs to choose which field of underwriting out of the four he wants to opt for. Underwriters work in insurance companies or for the organisations which offer insurance services to these companies and policyholders, banks, mortgage companies and real estate firms.
Courses Available
- B.Com in Accounting and Finance
- B.Com in Accounting
- Masters in Banking and Finance
- M.Com. Finance
- BBA (Bachelor of Business Administration)
Qualification required
- Bachelors Degree
- Degree in finance and business administration with course in accounting.
- For health and life insurance underwriting, a degree in medical or paramedical field is important
Some good institutes
- Advance Institute of Mangement, Ghaziabad
- Agra College of Mangement and Technology, New Delhi
- Aligarh College of Engineering and Technology, Aligarh,
- Apeejay Institute of Management, Jalandhar
- Arcade Business College, Patna
- Asia Pacific Institute of Management Studies, New Delhi
- DAV Institute of Management, Faridabad
Entrance exams
- Licentiate Exam
- Associateship Exam
- Fellowship Exam
- CIS Exam
- Surveyors Exam
- Actuarial Science Exam
- Amity School of Insurance and Actuarial Science PG diploma Entrance Examination
- Birla Institute of Management Technology PGDRIM Admission Test
- DS Actuarial Education Services (DS ActEd) Aptitude Test
- International institute for insurance and Finance (IIIF) PG diploma Entrance Examination
- Narsee Monjee Institute of Management Studies PGDAS All India Admission Test
- Symbiosis National Aptitude (SNAP) Test
- Uttar Pradesh Management Common Aptitude Test UPMCAT
