Principles and Practice of General Insurance
Gain practical skills, sharpen strategic insights, leverage AI, and supercharge career growth
- Comprehensive introduction to the principles and practices of life insurance from product design to claim settlement.
- Covers both theoretical foundations and practical procedures crucial for all life insurance operations.
- Prepares students for careers in the insurance industry by imparting deep knowledge of key concepts, regulations, and industry practice.
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Program
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Future-Ready Skills
Professional Growth
Accredited Certification
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Skill Enhancement
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Life Insurance Underwriting
Principles and Practice of Life Insurance
Compliance, Governance and Risk Management in Insurance
General Insurance Underwriting
Principles and Practice of General Insurance
Principles and Practice of General Insurance
Discover How We Efficiently Cover Every Detail?
Module 1: Fundamentals of General Insurance
- Definition, nature, basic principles and purpose of insurance
- Differences: Life vs General Insurance
- Functions and social relevance of general insurance
- Evolution of general insurance in India and globally
Module 2: Legal and Regulatory Environment
- IRDAI: Role, structure, and functions
- Insurance Contracts: Elements and documentation
- Key legislation: Insurance Act, Consumer Protection Act, Ombudsman scheme
Module 3: Types of General Insurance Products
- Overview and features of:
- Fire Insurance
- Marine Insurance
- Motor Insurance
- Health Insurance
- Liability Insurance
- Rural and Microinsurance
- Travel Insurance
- Crop Insurance & Weather-based Insurance
- Industrial All Risks (IAR) & Engineering Insurance
Module 4: Claims and Policy Servicing
- Claims lifecycle: Notification to settlement
- Roles of surveyors, assessors, and TPAs
- Documentation and timelines
- Fraud detection and redressal
- Customer service, grievance redressal mechanisms
- Role of AI in claims automation
Module 5: Distribution Channels and Market Practices
- Agency, Brokers, Bancassurance, Online
- Marketing strategies and ethics
- Insurance literacy and awareness campaigns
- Role of digital tools and CRM systems
Module 6: Financial and Operational Aspects
- Basic structure of a general insurer’s balance sheet
- Overview of premium collection, commissions, reserves
- Role of actuaries in pricing and reserving
- Importance of solvency and reinsurance
Module 7: Emerging Trends in General Insurance
- Insurtech and AI
- Climate change and catastrophe insurance
- Cyber Insurance and new-age risks
- Usage-Based Insurance (UBI)
- Blockchain in insurance
- Lessons from pandemics
Practical Knowledge from Industry Professionals
Our faculty’s extensive industry experience is the cornerstone of our exceptional insurance training
Girish Aswani
Girish Aswani is a seasoned financial educator and corporate trainer with over 20 years of experience in Sales, Finance, and the Insurance (BFSI) sector, including 16 years in Training and Development.
Stuti Gupta
Stuti Gupta is an experienced academician with over 11 years of teaching and leadership in Actuarial Science at Amity University.