01
Industry Information
Explore key insights, trends, and updates shaping the industry landscape.
Regulations
Insurance laws and regulations
In India takes care of all matters related to various insurance companies in the country. Much of the development and growth of the insurance sector in India is due to the government's decision to nationalize the insurance business and to allow private and foreign insurance companies to establish their businesses here.
In India, there is one regulatory authority i.e. IRDAI which oversees different functioning of the life insurance companies in India and provide them with guidelines.
Insurance Regulatory and Development Authority of India (IRDAI)
Insurance Regulatory and Development Authority of India (IRDAI) is the controlling body, overseeing important aspects and functioning of various insurance companies in India.
Established by the government, it safeguards the interest of the insurance policy holders of the country.
Some of IRDAI's functions include:
To regulate, ensure and promote the orderly growth of the insurance business.
To prescribe regulations on the investment of funds by insurance companies.
To regulate the maintenance of the margin of solvency.
To adjudicate the disputes between insurers and intermediaries.
Other supporting organizations which facilitate in the working of the industry
The main task of Tariff Advisory Committee is to regulate and control the rates, benefits, terms and conditions offered by life insurance companies in India.
All insurance companies in India are members of the Insurance Association of India. It has two councils under its patronage, mainly a. Life Insurance Council b. General Insurance Council
Ombudsmen play important role in regulating and ensuring smooth functions of the insurance companies. They are appointed to address all complaints relating to settlements of claims. Anyone having a grievance against an insurance company can approach Ombudsmen for redressal.
Click on the following links to view the documents.For further information on various acts and regulations, please visit www.irda.gov.in
Public Disclosures
Institutes offering Insurance Courses in India:
| No | Name of the Company | Public Disclosures |
|---|---|---|
|
|
Aditya Birla Sun Life
Insurance Company Limited
|
|
|
02
|
AGEAS Federal Life
Insurance Company Limited
|
|
|
03
|
Aviva Life Insurance
Company India Private Limited
|
|
|
04
|
Axis Max Life Insurance
Limited
|
|
|
05
|
Bajaj Allianz Life
Insurance Company Limited
|
|
|
06
|
Bandhan Life Insurance
Limited (Formerly Aegon Life Insurance
Company Limited)
|
|
|
07
|
Bharti AXA Life
Insurance Private Limited
|
|
|
08
|
Canara HSBC Oriental
Bank of Commerce Life Insurance Company
Limited
|
|
|
09
|
Edelweiss Tokio Life
Insurance Company Limited
|
|
|
10
|
Future Generali India
Life Insurance Company Limited
|
|
|
11
|
HDFC Life Insurance
Company Limited
|
|
|
12
|
ICICI Prudential Life
Insurance Company Limited
|
|
|
13
|
IndiaFirst Life
Insurance Company Limited
|
|
|
14
|
Kotak Mahindra Life
Insurance Company Limited
|
|
|
15
|
Life Insurance
Corporation of India.
|
|
|
16
|
PNB MetLife India
Insurance Company Limited
|
|
|
17
|
Pramerica Life
Insurance Company Limited
|
|
|
18
|
Reliance Nippon Life
Insurance Company Limited
|
|
|
19
|
Sahara India Life
Insurance Company Limited
|
|
|
20
|
SBI Life Insurance
Company Limited
|
|
|
21
|
Shriram Life Insurance
Company Limited
|
|
|
22
|
Star Union Dai-ichi
Life Insurance Company Limited
|
|
|
23
|
Tata AIA Life Insurance
Company Limited
|
COURSES IN INDIA
Insurance Courses Available in India
B. A (Insurance), B. A (pass) with Insurance as a Subject
Duration: 3 years
Eligibility: Class XII
PG Diploma in Certified Risk and Insurance management
Duration: 3 years (regular), 2 years (accelerated)
Eligibility: Graduation (for regular), Post Graduation (for accelerated)
Certificate Course in Intermediaries in Specific Insurance Subjects
Duration: 3 months
Eligibility: Graduation
Course for Insurance Agents
Duration: 50-100 hours
Eligibility: Class XII
Courses for Insurance Managers
Duration: 1 year
Eligibility: Graduation
PG Diploma in Insurance and Risk Management
Duration: 1 Year (regular), 18 months (part time)
Eligibility: Graduation/C. A.
B. Sc (with Actuarial science as a subject)
Duration: 3 years
Eligibility: Class XII
PG Diploma in Insurance Science
Duration: 1 year
Eligibility: Graduation
PG Diploma in Management of Insurance and Financial Services
Duration: 15 months
Eligibility: Graduation
Master's Program in Insurance Business
Duration: 2 years
Eligibility: Graduation
Foundation in Financial Planning
Eligibility: Graduation
M. Sc in Actuarial Science
Duration: 2 years
Eligibility: B. Sc
INSTITUTES
Institutes offering Insurance Courses in India:
| No | Institutes Name |
|---|---|
|
01
|
|
|
02
|
|
|
03
|
|
|
04
|
|
|
05
|
|
|
06
|
|
|
07
|
|
|
08
|
|
|
09
|
|
|
10
|
|
|
11
|
|
|
12
|
|
|
13
|
|
|
14
|
|
|
15
|
|
|
16
|
|
|
17
|
|
|
18
|
|
|
19
|
|
|
20
|
|
|
21
|
|
|
22
|
|
|
23
|
|
|
24
|
Career
Life Insurance as a Career
The Indian insurance industry has witnessed exceptional growth with private participation. It has a mix of public and private players both in the field of life and non-life business.
This sector not only provides a protective shield to the lives and assets of the nation but also generate thousands of jobs and career opportunities.
A career in Life Insurance is rewarding. You help people realize and fulfill their financial goals, making their lives more satisfying than ever. What's in store for you? A rewarding career, attractive remuneration, the freedom to be your own boss if you work as an agent, infrastructure support and greater opportunities. It's a win-win situation for your customers and you!
Some of IRDAI's functions include:
Advisors
Sales
Fund Management
Legal
Customer Service
Marketing
Actuarial
Underwriting
Operations
| No | Name of the Company | Careers |
|---|---|---|
|
01
|
Aditya Birla Sun Life
Insurance Company Limited.
Aditya Birla Financial Services,One India Bulls Centre 16th Floor, Tower 1,Jupiter Mills Compound 841, Senapati Bapat Marg, Elphinston Road,Mumbai - 400 013. |
|
|
02
|
Aegon Life Insurance
Company Limited
Plot No. 19, Next to AXIS Bank, Subhash Road, Vile Parle (East), Mumbai - 400 057. |
|
|
03
|
Bharti AXA Life
Insurance Company Limited
601-602, 6th floor, Raheja Titanium, Off Western Express Highway, Goregaon (E),Mumbai - 400 063. |
|
|
04
|
Aviva Life Insurance
Company India Limited.
Aviva Tower, Sector Road, Opp Golf Course, DLF Phase V Sector 43, Gurgaon 122 003, Haryana. |
|
|
05
|
Bajaj Allianz Life
Insurance Company Limited
GE Plaza, Airport Road, Yerawada, Pune - 411 006. |
|
|
06
|
Canara HSBC Life
Insurance Company Limited
2nd Floor, Orchid Business Park, Sector – 48, Sohna Road Gurgaon – 122018, Haryana (India). |
|
|
07
|
DHFL Pramerica Life
Insurance Company Limited
4th Floor, Building No. 9, Tower B Cyber City, DLF City, Ph-III, Gurgaon - 122 002. |
|
|
08
|
Edelweiss Tokio Life
Insurance Company Limited
Edelweiss House, off C.S.T. Road, PKalina, Mumbai - 400 098. |
|
|
09
|
Exide Life Insurance
Company Limited
3rd Floor, JP Techno Park, No. 3/1, Millers Road, Bengaluru – 560 001. |
|
|
10
|
Future Generali India
Life Insurance Company Limited
001, Trade Plaza, 414, Veer Savarkar Marg, Prabhadevi, Dadar (west), Mumbai - 400 025. |
|
|
11
|
HDFC Life Insurance
Company Limited
"Trade Star", 2nd floor, 'A' Wing, Kondivita Road Junction, Andheri-Kurla Road, Andheri (E), Mumbai - 400 059. |
|
|
12
|
ICICI Prudential Life
Insurance Company Limited
ICICI Prulife Towers , 1089, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400 025. |
|
|
13
|
IDBI Federal Life
Insurance Company Limited.
1st floor, Tradeview, Oasis Complex, Kamala City,P. B. Marg. Lower Parel (W), Mumbai - 400 013. |
|
|
14
|
IndiaFirst Life
Insurance Company Limited
301, 'B' Wing, The Qube, Infinity Park Dindoshi - Film City Road, Malad East, Mumbai 400097. |
|
|
15
|
Kotak Mahindra Old
Mutual Life Insurance Company Limited
6th Floor Peninsula Chambers, Peninsula Corporate Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai - 400 013. |
|
|
16
|
Life Insurance
Corporation of India
Yogakshema, Jeeva Bima Marg, Post Box No. 19953, Mumbai - 400 021. |
|
|
17
|
Max Life Insurance
Company Limited
11th Floor, DLF Square , Jacaranda Marg, DLF City, Phase-II, Gurgaon - 122 002. |
|
|
18
|
PNB MetLife India
Insurance Company Limited
Brigade Seshamahal, No. 5, Vani Vilas Road , Basavanagudi, Banglore - 560 004. |
|
|
19
|
Reliance Nippon Life
Insurance Company Limited
9th and 10th floor, building no.2, R-Tech Park, Nirlon compound, next to Hub mall, behind I-Flex building, Goregaon (east), Mumbai 400063.. |
|
|
20
|
Sahara India Life
Insurance Company Limited.
Sahara India Bhawan, Kopoorthala Complex, Lucknow 226024. |
|
|
21
|
SBI Life Insurance Company Limited
Turner Morrison Building, 2nd Floor, 16, Bank Street, Fort, Mumbai - 400 023. |
|
|
22
|
Shriram Life Insurance Company Limited
Mookambika Complex, II Floor, No.4, Lady Desika Road, Mylapore, Chennai 600 004 |
|
|
23
|
Star Union Dai-ichi Life Insurance Company Limited.
11th Floor, Raghuleela Arcade, IT park, Sector 30 A, Opp. Vashi Railway Station, Vashi, Navi Mumbai - 400 703. |
|
|
24
|
Tata AIA Life Insurance Company Limited.
5th & 6th Floor, Peninsula Tower, Peninsula Corporate Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai - 400 013 |