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Insurance - scope, careers, colleges, skills, jobs, salary

Everything you need to know about making a career in the Insurance. Insurance careers, scope, colleges, skills required, job prospects and salary. Discover the complete information of Insurance here.

About Insurance


Fun is like life insurance; the older you get the more it costs. ~ Kin Hubbard

Insurance is a means of protection from financial loss. It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. An entity which provides insurance is known as an insurer, insurance company, or insurance carrier. A person or entity who buys insurance is known as an insured or policyholder.

Insurance Career Path

B.A (Hons.) (Insurance & Banking)
Duration3 years
EligibilityXII pass
Entrance ExamAmity School of Insurance, Banking & Actuarial Science Entrance Exam
Average Course Fee₹4,00,000 to ₹6,00,000
GoalInsurance Agent, Insurance Advisor, Loss Adjuster, Claims Adjuster, Claims Analyst, Claims Examiner, Underwriter
M.B.A (Insurance & Banking)
Duration2 years
EligibilityGraduation with MAT/CAT/XAT/NMAT/GMAT scores
Entrance ExamCommon Admission Test (CAT), Management Aptitude Test (MAT), Xavier Aptitude Test (XAT), NMIMS Management Aptitude Test (NMAT), Graduate Management Admission Test (GMAT)
Average Course Fee₹70,000 to ₹6,50,000
GoalRisk Manager, Manager of Customer Billing, Marketing Manager, Project Manager, Training Manager
PGDM (Insurance Business Management)
Duration2 years
EligibilityGraduation with Min. 50% marks (10+2+3 pattern)
Entrance ExamCAT, MAT, XAT, CMAT, GMAT
Average Course Fee₹50,000 to ₹15,00,000
GoalSupervisors, Finance and Insurance Office Executives, Insurance and Investment Manager Claims Adjuster, Claims Analyst, Claims Examiner, Claims Manager, Insurance Consultant, Business Development Manager
Certificate Program (Health Insurance)
Duration2 weeks
EligibilityXII or equivalent
Entrance ExamIFBI (Institute of Finance, Banking and Insurance) Common Entrance Test
Average Course Fee₹50,000 to ₹2,00,000
GoalInsurance Agent/Broker, Field Promotion Coordinator

Colleges for Insurance

  • All India Institute of Public & Physical Health Sciences, Delhi
  • Amity School of Insurance and Actuarial Science, Noida
  • Birla Institute of Management and Technology (BIMTECH), Noida
  • GITAM Institute of Management, Visakhapatnam
  • Goa Institute of Management, Sattari
  • ICFAI University, Jaipur
  • Indian Institute for Finance and Management, Assam
  • Indian Institute of Commerce and Trade (IICT), Lucknow
  • Indian Institute of Pharmaceutical Marketing, Lucknow
  • Institute of Finance, Banking and Insurance, Chennai
  • Institute of Finance, Banking and Insurance, Delhi
  • Institute of Finance, Banking and Insurance, Hyderabad
  • Institute of Finance, Banking and Insurance, Kolkata
  • Institute of Finance, Banking and Insurance, Mumbai
  • Institute of Insurance and Risk Management, Hyderabad
  • International School of Business & Media, Kolkata
  • Mulund College of Commerce, Mumbai
  • National Insurance Academy, Pune
  • Pondicherry University, Puducherry
  • S K Somaiya Degree College of Arts, Science and Commerce, Mumbai
  • Siva Sivani Institute of Management, Hyderabad
  • Sydenham College of Commerce and Economics, Mumbai
  • Symbiosis Centre for Distance Learning, Pune

Top Colleges for Insurance

Scholarship / Fellowship in Insurance

  • Birla Institute of Management Technology
  • Siva Sivani Institute of Management
  • Sydenham College of Commerce and Economics

Insurance Key Skills

Communication Skills

Customer service attitude

Enjoys challenges


Focus and hard work

Good memory

Able to retain facts easily

Interpersonal Skills

Negotiation Skills

Numeracy skills

Organization & Time Management

Insurance Career Prospects

  • Insurance Consultant
  • Business Development Manager
  • Insurance Agent
  • Development officer in an Insurance Organization
  • Broker / Agent
  • Underwriter
  • Loss Adjuster
  • Risk Manager
  • Claims Investigator
  • Loss Control Specialist
  • Claims Clerk
  • Sales Agent
  • Actuary
  • Actuarial Associate
  • Claims Adjuster
  • Claims Analyst
  • Claims Examiner
  • Claims Representative
  • Claims Specialist
  • Estimator
  • Field Promotion Coordinator
  • Investigator
  • Marketing Representative

Jobs in Insurance

  • Insurance Companies
  • Government Sector
  • Private Sector

Salary in Insurance

Like in any other field the remuneration in this field depends on qualification, experience, and area in which one works. One could get an initial pay of ₹10,000 to ₹25,000 per month.

Insurance Role Models


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