A MUST READ WRITE UP FOR ALL ASPIRANT BEFORE YOU RAISE ANY QUESTION / DOUBT (UPDATED TILL 05/04/14) BIMTECH PGDM INSURANCE PROGRAME Birla Institute of Management Technology (BIMTECH) was pioneer in introducing the Post Graduate Professional Course in Insurance in India in year 2000 when the industry was opened up for private sector after decades of the monopoly of the public sector Insurance companies . It is a two year full time residential course which provides dual specialization in life as well as general insurance domain. The course has been accepted well by the industry which has continuously been reflected in its 100% placement records since inception. INSURANCE INDUSTRY Insurance is one of the biggest sector in Indian Economy. By collecting a premium income of Rs. 3, 85,000 Crores in year 2011-12, it contributed to 4.10% of the nation’s GDP. The sector has shown a remarkable growth since the opening up of the sector providing unparallel employment opportunities to the technically qualified people. The sector employ more than 2 lakh people in officers / operational cadre. As per the latest IMF report on Indian Insurance sector, not even 10% of those employed in the sector have a proper technical qualification and hence the sector provides an immense employability and growth prospect to those having technical qualification such as PGDM (Insurance) ACCREDITATION / RECOGNITION Apart from AICTE , the course PGDM (Insurance) has got accreditation / association from world’s leading institutions such as Chartered Insurance Institute (CII) U.K. , and Insurance Institute of India, Mumbai . Our students are entitled for 210 credit points for their respective diploma of ACII / AIII . Institute facilitate the students to have additional certification in LOMA Course as well as IIBA (Business Analyst) JOB OPPORTUNITIES Against the five insurance companies operating in India in year 2000, there are 54 insurance companies operating in India in 2013. There are approx. 350 registered Broking companies which have started growing with time and promises ample employment opportunities. Banks are also selling insurance policies and are likely to enter in to broking space .Leading IT companies recruit students for domain expert / business analyst assignment. There is good number of consultancy / KPO companies in India who work for foreign based insurance / reinsurance companies. They also need technically qualified candidates to take care of client’s requirement. JOB PROFILE The PGDM (Insurance) course content and delivery prepares students in such a way that they are ready to handle all possible assignment. Contrary to the popular believe of Insurance job being a hard core individual sales , majority of the students are offered non-marketing assignment such as Risk Engineers , Underwriting , Customer Servicing , Claims Management , Business Analyst , Corporate Sales etc. LEADING RECRUITERS / SALARY OFFER SBI , ICICI , HDFC , BAJAJ , TATA , HCL , Iffco Tokyo , RMS Inc. , Accenture , , L&T Info , CSC , Air World Wide Inc , Om Kotak , Vantage Brokers , Prudential Brokers etc. The max. salary has been around 7 lakhs and the average salary around 5 lakhs for the last two batches. RECRUITER FOR 2012-14 BATCH 1. HDFC ERGO 2. Iffci Tokio 3. Bajaj General 4. Star Health 5. Religare Health 6. Videocon Liberty 7. L&T General 8. ICICI Prudential 9. Accenture 10. CSC Ltd 11. RMS Inc. 12. Air World Wide Inc. 13. Almondz Insurance Brokers 14. Prudent Insurance Brokers 15. Trinity Insurance Brokers 16. Sridhar Insurance Brokers JOB PROFILE FOR BATCH 2012-14 1. Sales/ Marketing - 5 2. Corporate Sales - 4 3. IT/ Business Analyst - 6 4. Risk Management - 4 5. Operation - 19 Operation profile includes Risk Engineers, Underwriting , Customer Service , Claim , Re-insurance etc. The Management Trainees are given these profile after the induction training by the respective employers. COMPANIES WHICH HAS OFFERED SUMMER INTERNSHIP FOR 2013-15 Apollo Munich Health Star Health Max Bupa Vimosewa (SEWA -Ahmedabad) Future Generali L&T General Insurance Iffco Tokyo General Insurance Sriram General SBI Life Insurance Bajaj General Insurance Palm Insurance Brokers ARC RMS Insurance Brokers - Bangalore K A Pandit - Actuarial Consultance - Mumbai Micro Pension Foundation PLACEMENT PROCESS AT BIMTECH – courtesy Vasudeo Tiwari (2012-14) The placement season kicks-off from the 1st of October every year. Students are notified about 1) The Recruiter 2) Profile on offer 3) Remuneration 4) Location, through a campus placement alert by the Centre for Corporate Relations (CCR). The salary/compensation offered by a recruiter is entirely based on their official projections. Mostly recruiters do provide us with separate numbers for the compensation offered to a student with work-ex and to those without work-ex. These shall be communicated to you. Mostly you will start off as Management Trainees, where the firm will offer you assignments under various roles until your final role is decided. Each recruiter may have a differently structured MT program. Some of the recruiters are very specific about the job location while some offer it on a Pan-India basis where they can post you to a place of their choice after the initial training period. Kindly consider this before you sign up to sit for the GD/ interview process. A student should register his/her candidature with the Centre only after going through the information provided by the Centre on the recruiter visiting the campus. (Registering to sit for the process and pulling back later is strictly not recommended). Kindly note that the choice in these matters is entirely of the student concerned, if the salary/profile being offered does not match your expectations you may opt out of the process and wait for the next recruiter. Please note that an institution only connects recruiters with students (that’s what campus placements are about). BIMTECH acts as a conduit between you and the industry and we are not in the business of simply offloading students into some kind of a job. Ultimately where you get placed shall be defined by the choice you make. The way you utilize your time over here, to develop yourself professionally and the way you utilize the resources provided by the institute (faculty, library, clubs, conduits) decides how your future/career unfolds. LATEST NEWS / UPDATES 06/04/14 - BIMTECH has been ranked 7th among the Top Private B-Schools and 17th in the combined list of top 51 public and private B-Schools by National HRD Network (NHRDN)- People Matter . We have been able to maintain our rank score consistently for 2013 and 2014. 26/03/2014 - Chartered Insurance Institute (UK) has re-confirmed their accreditation for our PGDM - IBM course for the academic year 2014-15. They review the course in terms of content , its relevance to the industry & assessment process on yearly basis and grant this association only after finding it up to their expectation. Congratulation to all associated with Centre for Insurance & Risk Management (CIRM) , BIMTECH
Posted on: Sun, 06 Apr 2014 11:52:16 +0000
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