As we all know, every industry requires trained professionals and experts for proper functioning and growth. Insurance is no different. The Insurance Institute of India was established to fulfill the purpose of training insurance professionals. It helps them gain expertise in various subjects related to insurance. Formerly known as the Federation of Insurance Institute, The Insurance Institute of India serves as the ultimate guide for professionals.
Let us dive a little deeper and know more about the renowned institution:
The thought of imparting the knowledge about insurance had prevailed in the minds of the insurers for a long time. It was one of the sole objectives of the Indian Life Assurance Offices Association (ILAOA). The association wanted to create a body that would help to impart knowledge about the principle of life assurance.
In the annual meeting of the ILAOA in April 1934, the concern regarding the deficiency of skilled professionals in the field of insurance was raised. This led to the appointment of a committee in the same year that was supposed to find out ways and methods of imparting education in the field. Universities were reached to include insurance as a subject in their existing syllabus. Ultimately, it was decided that a separate institute should be formed on the same lines as the Chartered Insurance Institute of London. Further proceedings took place and an institute for training professionals in this field was formed.
Here are few objectives that the institutes work to fulfill:
The mission behind the formation and working of the institution is to impart systematic knowledge and training in the field of insurance. It also aims to create avenues for research and development in the respected field in order to convert unskilled individuals into highly efficient and skilled professionals to serve the insurance industry.
The institution is led by the following visions:
Now that you know about the Insurance Institute of India, you’ve got a clear idea about where you must head-on if you’re looking forward to building a career in the insurance industry.
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