filter your search allcollegesexamnews

Master of Business Administration [MBA] (Insurance) - Course Overview

  • STREAM

    MANAGEMENT

  • DURATION

    2 YEARS

  • COURSE

    Insurance

  • COURSE TYPE

    Post Graduation

Updated On - February 27th 2018

MBA Insurance Colleges, Syllabus, Scope and Salary 

MBA Insurance is a 2- year full- time program spread over 4 semesters. The program focuses on professionals and aspiring professionals interested and proficient in the insurance industry.

Top Institutes offering MBA Insurance are:

The average tuition fee charged for this course in India ranges between INR 1 to 16 Lacs.

The curriculum of MBA Insurance course involves advanced concepts of liability, property and corporate risk. Students enrolled to the course are required to prepare a relevant thesis each. Aspiring candidates need to have a Bachelor’s degree from a regionally accredited college and submit both high school and college transcripts and letters of recommendation for admission.

The program typically involves the requirement of an internship, aside from classes on the following:

  • Commercial property insurance
  • Commercial liability insurance
  • Life insurance
  • Advanced practices in property insurance
  • Advanced practices in liability insurance
MBA/PGDM Colleges In KarnatakaMBA/PGDM Colleges In MaharashtraMBA/PGDM Colleges In Uttar PradeshMBA/PGDM Colleges In Rajasthan

Successful graduates of the course in the country are offered an annual average salary in the range of INR 2 to 17 Lacs.

MBA Insurance: Course Highlights

Tabulated below are some of the major highlights of the course.

Course LevelPostgraduate
Duration2 years (Full time)
Examination TypeSemester System
EligibilityBachelor’s degree in any specialization
Admission Process Entrance test or direct admission
Course FeeINR 1,00,000 to 16,00,000
Average Starting salaryINR 2,00,000 to 17,00,000

MBA Insurance: What is it About?

MBA in Insurance is a postgraduate banking- based course which covers fundamentals and concepts of banking and insurance, and also basic concepts of management with specialized training in subjects such as international banking and insurance, treasury operations, risk management, investment banking, project, and infrastructure etc.

The course consists of 4 semesters in which 2 semesters are common between all MBA programs and the last 2 focus on specialized subjects and topics related to the fields of banking and insurance.

MBA Insurance course prepares students for solving conflicts and negotiating with others, the ability for establishing and maintaining interpersonal relationships, etc. By the end of the degree, students have successfully acquired fundamental and conceptual knowledge and skills to deal with insurance-related problems.

MBA Insurance: Top Institutes 

Compiled here is a list of the top institutes in India offering the course along with their respective locations and fees charged by each.

Name of InstituteCity Average Fees
Pondicherry UniversityPondicherryINR 37,200
Ambedkar Institute of management studies(AIMS)VishakhapatnamINR 1,40,000 
SRM UniversityKanchipuramINR 3,05,000
Amity UniversityNoidaINR 1,70,000 
NIMS UniversityJaipurINR 1,13,000
Chandigarh UniversityChandigarhINR 1,59,000
ICFAI UniversityJaipurINR 80,500 
Symboisis University of Applied ScienceIndoreINR 5,05,000
ISBM UniversityRaipurINR 48,000
ICFAI Business SchoolHyderabadINR 6,25,000

MBA Insurance: Eligibility

As a minimum criterion of eligibility for admission to the course, the candidate needs to have attained a bachelor’s degree in any stream from a recognized institute. Additionally, some universities conduct entrance test like GMAT, CAT, XAT, MAT, SNAP etc. for admissions to management courses, however, there is no different entrance exam conducted for MBA in Insurance particularly.

The entrance test includes topics for evaluation such as general English, problem-solving, data analysis and interpretation, numerical ability, quantitative aptitude, logical reasoning and general awareness.

MBA Insurance: Admission Process

Candidates applying for admission to this course are selected based on the following

CATEGORY 1: consisting of MET, MCT, Group Discussion, Personal Interview, Work Experience, and Academics- Psychometric Test, all in this order., or, 

CATEGORY 2: consisting of the CAT Score, Group Discussion, Personal Interview, Work Experience, and Academics- Psychometric Test, all in this order.

MBA/PGDM Colleges In Andhra PradeshMBA/PGDM Colleges In Tamil NaduMBA/PGDM Colleges In ChhattisgarhMBA/PGDM Colleges In Gujarat

MBA Insurance: Syllabus and Course Description

The course is designed to prepare students for advanced work in insurance and risk management. The course covers the nature of risk and risk fundamentals, insurer- operations and insurance regulation. Also, covered in the curriculum are the principal techniques of managing risk exposure and basis of decision- making in business- management and personal risk management.

Given below is a semester- wise breakup of the course’s syllabus.

Semester I

Semester II

Management Concepts & Organizational Behaviour

Financial Management

Managerial Economics

Marketing Management

Accounting for Managers

Human Resources Management

Business Environment & Law

Operations Research and Management

Research Methodology

Strategic Management

Semester III

Semester IV

Principles and Practice of Life Insurance

Investment and Portfolio Management

Principles and Practice of General Insurance

Fire and Motor Insurance

Risk Management and Insurance

Actuarial Mathematics and Services

Insurance Law and Regulations

Reinsurance

Marine and Rural Insurance

Marketing of Insurance Services

MBA Insurance: Career prospects

Successful postgraduates of MBA Insurance are lucratively employed in banking and non-banking sectors, besides a range of areas in the corporate world. Every industry needs financial experts for maintaining the balance of capital.

Such postgraduates are offered job opportunities in both government and private sectors such as the stock market, leading financial organizations, the finance ministry, and related organizations, besides launching one’s on business.

Some of the capacities that they are hired in are:

  • Development Officer in insurance firms, with the responsibility to market and procure business
  • Assistant Administrative Officer upon clearing the relevant employment exam conducted by any of the insurance firms.

The major government organizations that employ successful postgraduates of MBA in Insurance are Postal Life Insurance, General Insurance Corporation (GIC) and Life Insurance Corporation of India (LIC). Huge privately- owned organizations that hire such postgraduates are Tata AIF Life, Reliance, ING Vysya Life, ICICI Prudential, HDFC Standard Life-Insurance Co., Birla Sun-Life, SBI Life Insurance, Om Kotak Mahindra, Max New York Life etc.

Some of the other roles offered to such postgraduates in the industry are listed below:

  • Asset Management
  • Corporate Finance
  • Corporate Banking
  • Credit Risk Management
  • Derivatives Structuring
  • Hedge Fund Management
  • Private Equity
  • Treasury

Areas such as financial institutions, banks, financial consultancies, colleges, and universities etc. as well hire such postgraduates.

Listed here are some of the popular job positions offered to successful postgraduates of the discipline with the corresponding job descriptions and salaries offered.

Salary Graph
Job titleJob DescriptionAverage Salary
Financial ManagerResponsible for working within public and private sectors for providing financial advice and undertaking related accounts administration. INR 9,56,578 P. A
Financial AdviserResponsible for helping clients plan short and long-term financial goals. These goals may include retirement and education. And he/she may provide investment, tax and insurance advice.INR 3,03,833 P. A
Management AnalystResponsible for conducting organizational studies and evaluations, designing procedures, conducting work simplification and measurement studies and preparing operations and procedures manuals to assist management in operating efficiently and effectively.INR 7,20,780 P. A
Risk ManagerResponsible for analysing and managing risk management issues by identifying, measuring, and making decisions on operational or enterprise risks for an organization.INR 9,88,324 P. A
Risk Management ConsultantResponsible for accessing and identifying potential risks that may hinder the reputation, safety, security, and financial prosperity of an organization.INR 7,14,357 P. A
Senior Risk ManagerResponsible for identifying risks to which a business is exposed and finding ways to eliminate such risks.INR 15,37,041 P. A
Strategy ManagerResponsible for planning and directing an organization's strategic and long-range goals, conducting organizational reviews to identify strengths, weaknesses, and opportunities and evaluating operational effectiveness.INR 17,77,785 P. A
IT ManagerInformation systems managers, or IT managers, are responsible for the secure and effective operation of all computer systems, related applications, hardware and software that is used within a wide range of public and private sector organisations.INR 10,47,559 P. A
HR ManagerResponsible for staffing by recruiting, selecting, orienting, and training employees.INR 6,13,085 P. A

×

×

Keep up to date with our progress by following us