POST GRADUATION DIPLOMA IN INSURANCE MANAGEMENT

Paper Code Paper Credits Maximum marks (end term examination) Pass Marks* IM01 Insurance Fundamentals & Practices 4 100 Marks 40* IM02 Principles of Economics & Economic Environment 4 100 Marks 40* IM03 Financial Planning and Professional Selling of Insurance 4 100 Marks 40* IM04 Risk Management & Underwriting of Life/ General/ Health Insurance lines 4 100 Marks 40* Total for Term I 16 400 marks 200 *(50% in aggregate) Term II - There shall be four papers in this term. Each paper would require 48 hours of classroom teaching and will earn 4 credits. Three papers are on higher level concepts of insurance marketing and one optional paper is for specialization in Life/ General Lines of insurance. A Project work of 4 credits is also required which will be equivalent to a 100 marks paper. Paper Code Paper Credits Maximum marks (end term examination) Pass Marks * IM05 Marketing Channels in Insurance & Agency Management 4 100 Marks 40* IM06 Marketing Management and Insurance 4 100 Marks 40* IM07 Understanding Buyer Behavior/ Branding & Integrated Marketing Communication 4 100 Marks 40* IM08 Specialization in Life Insurance or Specialization in General Insurance 4 100 Marks 40* IM09 Project Work 4 100 Marks (includes a Project report and Viva) 50 Total for Term II 20 500 Grand Total for the Course 900 450 *(50% in aggregate) 5 Module-wise Syllabus IM01: Insurance Fundamentals & Practices Objectives: At the end of this course the students would be able to understand & evaluate: 1. Concepts in Risk Management, Principles of Life/ General insurance & Insurance Contracts 2. Key concepts and principles of Pensions and Group Insurance 3. Principles of Finance & Financial markets; trends in financial markets 4. Indian insurance Industry – in historical and current perspective 5. Practice of Life Insurance & General Insurance. Module - 1 Introduction to Risk, Risk Management, Principles of Insurance & Insurance Contracts [12 hours] The idea of insurance - What are risks, perils and hazards - How risk is classified - What burden it creates - How it can be addressed through insurance - What is risk management - Difference between risk and insurance management - Different steps in risk management - Managing risk - How insurance is used as a tool in risk management Legal Principles of insurance: Insurable Interest - Indemnity - Utmost Good -Faith - Proximate Cause - Subrogation - Contribution What life insurance involves : Life insurance and its customers - What insurance involves – The asset - The risk - The mutuality principle - The contract Life Insurance Determination of Premiums - Mortality – Interest - The net premium - Gross premiums General insurance - Key characteristics - Determining the premiums and reserves Profits and Returns: Introduction - Distribution of profits under traditional contracts - Investment and unit linked insurance Module – 2 (a) Legal Foundation