Becoming A Fellow Of The Insurance Institute Of India: A Guide

The Insurance Institute of India (III) is the national body for insurance underwriters in India, founded in 1955 to promote insurance education and training in the country. The institute offers a range of specialised diploma and certificate courses in the field of Life and Non-Life Insurance, including the flagship Fellowship diploma. This is a 3-stage programme, with each stage based on a credit point system. Stage 1 is an introductory course dealing with the two compulsory papers: Principles of Insurance and Practice of Insurance (Life and Non-Life), as well as an optional paper. Stage 2 allows students to choose subjects in either Life or Non-Life or a combination of both, while Stage 3 involves advanced studies in specified areas. To become a Fellow, candidates must earn at least 490 credit points across all three stages.

Licentiate Examination

The Insurance Institute of India (III) is the national body for insurance underwriters in India, established in 1955 to promote insurance education and training in the country. The institute offers a range of specialised diploma and certificate courses in the field of Life and Non-Life Insurance. The flagship Fellowship diploma has three stages, the first of which is the Licentiate Examination.

The Licentiate Examination is an introductory course that deals with two compulsory papers: Principles of Insurance and Practice of Insurance (Life and Non-Life). Candidates must also choose one optional paper from the professional exam curriculum. To qualify for this stage, candidates need to earn a minimum of 60 credit points.

The examination for most courses at the Insurance Institute of India is conducted online. Study material is provided by the institute upon payment of the requisite fees. The Licentiate Examination is the first step towards achieving the Fellowship diploma, which is the highest level of qualification offered by the institute.

To be eligible to appear for the Licentiate Examination, candidates must have either successfully completed Matriculation, S.S.L.C., S.S.C. or an equivalent examination, or have worked with an insurer in the field or office for at least three years prior to the date of registration.

The Licentiate Examination is a great starting point for those seeking to advance their knowledge and career in the insurance industry, as the qualifications are highly regarded by the regulator and the industry, and similar institutes internationally.

Associateship Examination

The Associateship Examination is the second stage of the Insurance Institute of India's Fellowship diploma. The Insurance Institute of India (III) is the sole national body for insurance underwriters in India, established in 1955 to promote insurance education and training in the country.

To qualify for the Associateship Examination, students need to earn a minimum of 250 credit points (including credit points from the previous Licentiate stage). At this level, students can choose to focus on either Life or Non-Life insurance, or a combination of both. The scheme of study provides knowledge of the chosen subject, and candidates will also need to familiarise themselves with the practical aspects related to these subjects.

The examination for most of the courses is conducted online, and the study material is provided by the Institute upon payment of the requisite fees. The flagship Fellowship diploma is made up of three stages, each based on a credit point system with each subject having specified credit points and minimum credit points for each stage.

Licentiate Examination

The Licentiate Examination is the first stage of the Fellowship diploma. It is an introductory course dealing with two compulsory papers: Principles of Insurance and Practice of Insurance (Life and Non-Life). Students can also choose one optional paper from the professional exam curriculum. A minimum of 60 credit points is needed to qualify for this stage.

Fellowship Examination

The Fellowship Examination is the third and final stage of the Fellowship diploma. It involves advanced studies of specified areas, such as Actuarial aspects, Management Accounting, Asset Management, and Reinsurance Management, along with specialised subjects in the Life/Non-life stream as elected by students. To qualify for this stage, students need to earn a minimum of 490 credit points, including credit points from the Licentiate and Associate stages.

Eligibility

To be eligible for the Professional Examination, candidates must have successfully completed Matriculation, S.S.L.C., S.S.C. or any equivalent examination, or have worked with an insurer in the field or office for at least three years before the date of registration.

Fellowship Examination

The Insurance Institute of India (III) was established in 1955 in Mumbai to promote insurance education and training in the country. The institute offers many specialized diploma and certificate courses in the field of Life and Non-Life Insurance. The flagship course for the institute is the Fellowship diploma, which has 3 stages.

The Fellowship Examination is the highest level of the Fellowship diploma and involves advanced studies of specified areas as per the elective i.e. Life or Non-Life. The syllabus covers topics such as Actuarial aspects, Management Accounting, Asset Management, and Reinsurance Management, along with specialized subjects in the Life/Non-life stream as elected by students.

To qualify for this stage, one needs to earn at least 490 credit points, including credit points from the Licentiate and Associate stages. The examination for most of the courses is conducted online, and the study material is provided by the Institute upon payment of the requisite fees.

Candidates who have passed the Fellowship Examination are required to download the "Fellow Election Form" and send a duly signed scanned copy to the email address provided by the Insurance Institute of India.

Eligibility criteria

The Insurance Institute of India (III) was established in 1955 to promote insurance education and training in the country. The institute offers various specialised diploma and certificate courses in the field of Life and Non-Life Insurance. The flagship course offered by the institute is the Fellowship diploma, which has 3 stages.

To be eligible to appear for the Professional examination, candidates must fulfil one of the following criteria:

• Successfully completed Matriculation, S.S.L.C., S.S.C. or any equivalent examination.
• Worked with an insurer in the field or office for at least three years before the registration date.

To be eligible for the Fellowship diploma, candidates must have completed the first two stages of the examination process:

• Licentiate Examination: This introductory course covers two compulsory papers: Principles of Insurance and Practice of Insurance (Life and Non-Life), as well as one optional paper from the professional exam curriculum. Candidates must earn at least 60 credit points to qualify for this stage.
• Associateship Examination: At this level, students can choose subjects related to Life, Non-Life, or a combination of both. This stage provides knowledge of the chosen subjects and their practical aspects. Candidates must earn a minimum of 250 credit points, including those earned at the Licentiate stage, to qualify.

To be eligible for the final stage of the Fellowship Examination, candidates must have earned a minimum of 490 credit points, including those from the Licentiate and Associate stages. This stage involves advanced studies in specified areas such as Actuarial aspects, Management Accounting, Asset Management, and Reinsurance Management, along with specialised subjects in the Life/Non-life stream.

Application process

The Insurance Institute of India (III) is the sole national apex body for insurance underwriters in India. It was established in 1955 in Mumbai to promote insurance education and training in the country. The institute offers many specialized diploma and certificate courses in the field of Life and Non-Life Insurance. The flagship course for the institute is the Fellowship diploma, which has 3 stages. The stages are based on a credit point system, with each subject having specified credit points and minimum credit points for each stage.

To apply for the Fellowship diploma, candidates must first ensure they meet the eligibility criteria. To be eligible, candidates must have either successfully completed Matriculation, S.S.L.C., S.S.C., or any equivalent examination, or have worked with an insurer in the field or office for at least three years before the date of registration.

Once candidates confirm their eligibility, they can follow the steps outlined below to apply for the Fellowship diploma:

• Register as a new user on the College of Insurance website.
• Complete the online registration for the Fellowship examination.
• Pay the requisite fees for the examination.
• Download and fill out the "Associate / Fellow Election Form." This form consists of three parts: Application, Extracts of rules of the Insurance Institute of India related to Associates / Fellows, and CREDO.
• Submit the duly signed scanned copy of the election form to [email protected] or send a hard copy directly to the Insurance Institute of India.
• Submit relevant documents, including proof of membership of professional bodies (if applicable) and attested copies of diploma/mark sheets.
• Candidates who have passed the Associateship/Fellowship examination before October/November 2010 and have not received their diploma will have to fill out the necessary election form and pay the requisite fees as outlined in the Examination Handbook.
• Candidates requiring a duplicate diploma will need to pay the fees as specified in the TABLE OF FEES and submit an application letter.

It is important to note that the Insurance Institute of India also admits Fellows of the Chartered Insurance Institute, Institute and Faculty of Actuaries, and Institute of Actuaries of India as its Fellows, provided they have at least 10 years of standing in the profession and their membership in their respective professional bodies is in force at the time of applying.

Frequently asked questions