Master of Business Administration (MBA) Insurance Admission Process, Entrance Exam, Top Colleges, Syllabus, Scope and Salary

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Sounak Banerjee

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What is MBA Insurance?

MBA Insurance is a 2 year course for post graduates. The course involves advanced learning of liability and corporate risk. MBA insurance is a postgraduate banking based course which covers the concepts and rules of banking and insurance. The course involves advanced learning of liability and corporate risk.

Note: Students who wish to pursue their education in Management field or get a career boost, can check MBA course.

MBA Insurance course prepares students for solving conflicts, 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.

Check Out: All About MBA

The eligibility criteria for MBA Insurance, students must qualify bachelor’s degree with minimum 50% marks in any stream.

The process for admission in this course is an entrance exam taken by colleges and universities. The entrance exams are CAT (common aptitude test), MAT (management aptitude test), SNAP (symbiosis national aptitude test) and XAT (Xavier aptitude test).

NIRF Management Rankings 2021 College Name Average Fees (INR) Average Salary (INR)
34 Lovely Professional University 3,04,000 6,00,000
39 Amity University 5,15,000 6,25,000
41 Chandigarh University 1,80,000 5,60,000
49 Jamia Millia Islamia 16,150 6,80,000
51 Alliance University 9,00,000 8,30,000

The average fee for the course is INR 1 lakhs to INR 16 lakhs per annum. It depends on the course offered by colleges and universities.

The job profiles after MBA insurance are financial manager, risk manager, fund manager, banking finance, business analyst, internal auditor, etc.

The top recruiting companies are LIC, SBI general insurance, HDFC standard life insurance co. ltd., etc.

The average salary package of 1-4 year experience candidates is INR 2 lakhs to INR 20 lakhs per annum.

See Also: Top MBA Insurance Colleges in India

MBA Insurance Course Highlights

Course Type Post Graduate
Duration 2 Years
Examination Type Semester wise
Eligibility Graduation in any discipline
Admission Process Merit based/Entrance Based
Course Fee (INR) 1 Lakh - 12 Lakh
Average Salary (INR) 4 Lakh - 14 Lakh
Top Recruiting Companies SBI general insurance, HDFC Bank, Axis Bank, LIC, Royal sundaram etc.
Job Positions Financial Manager, Internal Auditor, Banking Finance, Business Analyst, Fund Manager, Risk Management,etc.
MBA Insurance Eligibility

MBA Insurance Eligibility

The eligibility criteria of Master of business administration (insurance) is:

  • Students must have to clear graduation with minimum 50% marks in any stream from a recognized college.
  • There should be no backlog in any subject.
  • 5% moderation to reserved category students (SC/ ST/ OBC).

Check Out: Top MBA/PGDM Exams

MBA Insurance Admission Process

MBA Insurance Admission Process

To get admission in the course, Students must have to clear entrance exams taken by respective colleges and universities. The procedure for the admission is:

  • The registration form will be released on the official websites of the respective colleges or universities.
  • Students have to submit the registration fee on the online portal before the last date.
  • The admit card will be released by the colleges and universities.
  • The exam date will be released by the colleges and universities.
  • The result will be announced after the exam. Some colleges conduct counseling for the final selection.
  • Documentation Date will be given by the colleges for final selection of the students in the course. The documents required are class x and xii mark sheet, original graduation degree, passport size photographs, cast/ category certificate (if any).

Check Out: Executive MBA Exams

MBA Insurance Entrance Exams

MBA Insurance Entrance Exams

The entrance exams  that are necessary for students to give to gain admission in MBA Insurance are mentioned below. The important dates for each MBA Insurance Entrance Exam are also mentioned below:

Entrance Exam Application form Exam date Result date Duration
CAT 5th August - 20th September 29 November 2020 5 January 2021 180 minutes
MAT 23rd August 2020 27th August 2020 15th September 2 Hours 30 Minutes
SNAP 16th August 2020 December 2020 2nd week of January 120 Minutes
XAT 23rd August 2020 3rd January 2021 31st January 2021 180 Minutes

How to Crack MBA Insurance Entrance Exams?

The process that a student should follow in order to crack MBA Insurance Entrance Exam are mentioned below:

  • You should be aware about the exams conducted by the colleges and universities respectively.
  • You should know about the syllabus and sections (verbal ability and reading comprehension, data interpretation and logical reasoning, quantitative aptitude) coming in exam.
  • Do not skip any sections because each section contains minimum and maximum marks.
  • Clear the concepts and focus on weak topics.
  • Develop a reading habit and learn at least 10-20 new words to improve vocabulary.
  • You should decide the mode of preparation (coaching or self study). If you want to study by yourself, collect the books and make notes, focus on new topics and learn new strategies. If you want to join coaching, find the top institutes for preparation.
  • Choose the institute on some parameters like fee, study material provided, weekend test, faculty, nearby location.
  • Practice according to the section and topic wise. learn time management to solve the exam in a given time. Set time for each section and question.
  • Practice more and more previous year questions to check your preparation for the MBA Insurance Entrance Exam.
  • Identify your weak areas and work on them.

How to get admission in a good MBA Insurance Entrance Exam?

The process for getting admission in a good MBA Insurance Entrance Exam are mentioned below:

  • The student must practice more question papers to clear entrance exams conducted by colleges and universities.
  • Students should score good marks to get admission in a good college.
  • Student should make a list of top colleges to know about them. Some parameters are about the college, eligibility, admission process, entrance
  • Exam name conducted by them, location, fee structure, top recruiting companies, courses offered by them.
  • Fill all the exam registration forms with payments before the last date to avoid any discrepancy.
  • Be prepared for the entrance exam conducted by the colleges and universities.
  • Take classes for the preparation of exams and interviews.
  • Take counseling before choosing the course and college.
  • Score good marks in bachelor's courses.

Related Courses: MBA Risk and Insurance 

MBA Insurance Syllabus

MBA Insurance Syllabus

The syllabus for MBA Insurance divided into semester are mentioned below:

Semester 1 Semester 2
Management concepts and Organizational Behaviour Marketing Management
Managerial Economics Financial Management
Research methodology Operations Research and Management
Accounting for manager Strategic Management
Business environment & law Human Resources Management
Semester 4 Semester 5
Principles and practice of life insurance Investment and Portfolio Management
Principles and practice of general insurance Fire and motor insurance
Risk Management and Insurance Reinsurance
Insurance Law and regulations Actuarial Mathematics and services
Marine and Rural insurance Marketing of insurance services

The books that students require for studying MBA Insurance are mentioned below:

Book Author
Inside the insurance Industry Kelvin Glaser
The Breakthrough Insurance Agency Bart Baker
Going Tradigital: Social Media Made Easy for Insurance Agents Nadeem Damani and Angela Johnson
If an Elephant Sits on You, Are You Covered? Bart Baker
Insurance and Behavioral Economics: Improving Decisions in the Most Misunderstood Industry Professor Howard C. Kunreuther
Paychecks and Playchecks: Retirement Solutions for Life Tom Hegna
Insurance: Best Practical Guide for Risk Management, Property, Liability, Life and Health with Concepts and Coverage (Personal Finance Book 1) James Stevens
Applied Insurance Analytics: A Framework for Driving More Value from Data Assets, Technologies, and Tools (FT Press Analytics) Patricia L Saporito
MBA Insurance Top Colleges

MBA Insurance Top Colleges

The top colleges that offer MBA Insurance are mentioned below along with fees and salary:

College Name Location Fees (INR) Salary (INR)
NIMS University Jaipur 60,000 5,69,000
Lovely Professional University Jalandhar 3,04,000 8,40,000
Prestige Institute of Management and Research Indore 1,20,000 4,50,000
Jamia Hamdard University New Delhi 2,45,000 5,00,000
Pondicherry University Puducherry 74,735 3,67,000
JSS Academy of Higher Education and Research Mysore 1,79,000 3,25,000
Chandigarh University Chandigarh 1,80,000 5,96,000
Amity Global Business School Noida 3,65,000 4,50,000
Jamia Millia Islamia New Delhi 16,150 5,00,000
Alliance University Bangalore 9,00,000 7,00,000

MBA Insurance College Comparison

The comparison between top colleges that offer MBA Insurance course are mentioned below on the basis of various parameters like overview, rankings, eligibility, admission process, fees among others:

Parameters NIMS University Prestige Institute of Management and Research Lovely Professional University
Overview NIMS University is known for the best private university of 2018 year. It also has a title of best private university for skill development by ASSOCHAM India. It is the largest university which covers more than 100 courses.  PIMR is a well established management institute in Madhya pradesh. It is known as Best Upcoming Law College in Central India 2018 by CEGR. The college is popular for its MBA program (both full-time and part-time) with placements. the college offers BBA, B.Com, BJMC, LLB, LLM, etc.  This is a Private University situated in Jalandhar, Punjab. It is the largest single-campus university in India. The university is ranked high on various parameters by acclaimed bodies. It offers UG, PG, PHD courses.
City Jaipur Indore Jalandhar
Outlook Rankings 126 126 22
Eligibility Graduation with minimum 50% marks in any stream from a recognized college
Admission Process Entrance Exam
Average Fees (INR) 60,000 1,20,000 3,04,000
Top Recruiting Organizations CISCO, IBM, DELL, WIPRO, CNBC, VIVO, INTEX, INTAS, etc ITC, AMAZON, KPMG, SBI, AIRTEL, LUPIN, etc GOOGLE,ITC, IBM, SAP, KPIT, SONY, TCS, etc
Average Salary (INR) 5,69,000 4,50,000 8,40,000
Why Study MBA Insurance?

Why Study MBA Insurance?

The reasons of studying MBA insurance are mentioned below:

  • This course prepares students for solving the conflicts and negotiating the others, the ability for establishing and maintaining interpersonal relationships, etc. By the end of the degree.
  • It will help you to develop managerial skills.
  • This course will assist you in connecting with a larger business network.
  • It will Open the door to trending career opportunities.

The skills required for studying MBA Insurance are :

  • Analytical skills: Risk management and insurance actuaries have to juggle all types of information. They need to interpret information from financial statements and suggest the best course of action.
  • Communication skills: whether they’re discussing a break-even analysis with the executive team or conducting a presentation on the viability of a new acquisition, they need to express their ideas clearly.
  • Interpersonal skills: The managers responsible for guiding the direction of the company. The welfare of a company depends on the ability to concisely disseminate information to certain company stakeholders.
  • Leadership skills: They have to push the direction of the company if they feel it’s in the best interest of their organization. This means some tough decision around staff, resources, and the overall direction of the company.
  • Technical skills: Technology is dynamic in nature. They have to keep up-to-date with the latest industry technology in order to ensure accurate forecasting.

MBA Insurance Course Comparison

The comparison between MBA and MBA Banking and Finance are mentioned below based on many parameters given below:

Parameters MBA Insurance MBA Banking and Finance
Overview MBA insurance is a postgraduate banking based course which covers the concepts and rules of banking and insurance. The course involves advance learning of liability and corporate risk The master’s degree program in Banking and Insurance is a program which provides technical, expert as well as practical knowledge of banking and insurance along with the combinational management subjects for business as well.
Duration 2 years 2 years
Eligibility Graduation with minimum 50% marks in any stream from a recognized college Graduation with minimum 50% marks in any stream from a recognized college
Admission Process Entrance Exam Entrance Exam
Job Roles financial manager, internal auditor, banking finance, business analyst, fund manager, risk management,etc. Accounts manager, marketing manager, executive manager, marketing analyst, finance manager, business analyst, cashier, etc
Average Fees (INR) 4 Lakh - 12 Lakh 6 Lakh- 16 Lakh
Average Salary (INR) 5 Lakh - 10 Lakh 7 Lakh - 20 Lakh
Top Recruiting Organizations SBI general insurance, HDFC Bank, Axis Bank, LIC, Royal sundaram etc ICICI Bank, Yes Bank, State Bank, HCL, Bajaj, LAVA, etc.

Check Out: MBA Banking and Finance Top Colleges

MBA Insurance Scope

MBA Insurance Scope

This field is full of career opportunities with a secure future. Various banks and multinational organizations provide facilities to their employees.

  • Students opt this field are well paid and have a bright career.
  • Students can pursue other degree programs like PhD in insurance or PhD in risk management or can pursue MBA in risk management, MBA in finance.
  • The best job opportunities after MBA in insurance are accounting manager, chief financial officer, cash manager, investment banking associate, credit manager, etc.
  • State Bank Of India is an Indian multinational, Public sector banking and financial services, HDFC Bank, and many other banks are recruiting areas.
MBA Insurance Jobs

MBA Insurance Jobs

The jobs available after MBA Insurance are mentioned in the table below along with the job role and average annual salary.

Job Profile Role Average Annual Salary (INR)
Business analyst The role of Business analyst is to help the organization to improve the procedures and systems. 6,07,000
Internal Auditor The role of Internal auditor is to give independent assurance that the risk management, governance and internal control procedures are operating effectively. 4,90,000
Fund Manager The role of fund manager is to implement the fund's investing strategy and managing its portfolio 6,98,000
Financial Manager The role of financial manager is to produce financial reports, direct investments, developing and planning strategies for long term financial goals 7,66,000
Risk Manager The role of risk manager is to analyze, identify the causing accident or loss and recommend the preventive measures. They communicate the risk policies and procedures of an organization. 12,64,000
MBA Insurance FAQ

MBA Insurance FAQ 

Ques. What is MBA Insurance?

Ans. MBA Insurance is a 2 year course for post graduates. The course involves advanced learning of liability and corporate risk. The eligibility criteria for MBA Insurance, students must qualify bachelor’s degree with minimum 50% marks in any stream.

Ques. What are the top recruiting companies for MBA in insurance?

Ans. The top recruiting companies for MBA in insurance are:

  • Goldman sachs
  • State bank of india
  • HDFC
  • KPMG
  • Morgan stanley
  • Boston Consulting group
  • Bain & Company
  • JP Morgan Chase & Co.
  • McKinsey & Co.
  • Barclays

Ques. Is distance education available for MBA Insurance?

Ans. Yes, Distance education is available for MBA Insurance. Classes for distance learning are online. You can learn from anywhere in the world.

Ques. Is Distance education for MBA Insurance beneficial?

Ans. You can fit your learning around your work and home life. You get to decide exactly when and where you study. You can gain a degree from anywhere in the world. Distance learning courses often cost less than full-time degrees, so you can save money.

Ques. What is the last date for registration in MBA course in DU?

Ans. The last date for online registration form for admission is August 31, 2020.

Ques. Do companies hire candidates from distance MBA?

Ans. Employers accept distance MBA degrees from accredited schools. The employers have started considering distance MBA equally as the traditional degrees.

Master of Business Administration [MBA] (Insurance) Fee Structure in India


33.03 K (Minimum Fee)PUBLIC COLLEGES4.75 L  (Maximum Fee)
1.93 L (Average Fee)
28 K (Minimum Fee)Private COLLEGES10.15 L (Maximum Fee)
2.39 L (Average Fee)

Master of Business Administration [MBA] (Insurance) Fee Structure By state


Delhi NCR

4.75 LPUBLIC COLLEGES4.75 L
4.75 L
1.25 LPrivate COLLEGES6.40 L
3 L

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Master of Business Administration [MBA] (Insurance) Colleges IN INDIA

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Jamia Hamdard University
New Delhi, Delhi NCR
MCI
2.45 L first year fees
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2.35 L first year fees
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Pondicherry University - [PU]
Pondicherry, Puducherry
NCTE
74.72 K first year fees
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NIMS University
Jaipur, Rajasthan
DCI
60 K first year fees
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Amity University
Mumbai, Maharashtra
UGC
5.15 L first year fees
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Sardar Patel Mahavidyalaya - [SPM]
Chandrapur, Maharashtra
AICTE
16.69 K first year fees
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Arunodaya University
Itanagar, Arunachal Pradesh