CPAIM Couse Syllabus

Insurance Institute of India 1

BASIC LEVEL

CPAIM BL01:- Fundamentals of Insurance

First Edition: 2012

Contents

CHAPTER 1: INTRODUCTION TO RISK AND INSURANCE: Basic concept of

risk Assets Risks and Perils Risk and Uncertainty Risk as Statistical

Dispersion - Classification of Risks - Nature of Risk Environment - Static and

dynamic risks Fundamental and Particular Risks Hazards - role of

Insurance - Insurance and the burden of risk - mechanism of insurance.

CHAPTER 2: RISK MANAGEMENT AND INSURANCE: Risk Management and

Insurance Management - Steps in the Risk Management Process - Laying the

objectives - Identification of risks - Evaluating and measuring the risk - Loss

Frequency - Loss Severity - Classifying the Risk - Managing the Risk - Risk

Control Retention - Insurance as a tool.

CHAPTER 3: PRINCIPLES OF GENERAL INSURANCE: General insurance

the legal definition - Heterogeneity of Risk Exposures - Heterogeneity and Risk

Classification Solidarity - Claims Frequency and Size - Distribution of Claims

- Credibility theory - Risk Theory and the concept of Ruin The Pure risk

premium - The Office Premium - Class and Individual Rates Reserves.

CHAPTER 4: LIFE INSURANCE AN INTRODUCTION: Life Insurance and its

customers The Economic Life Cycle The Asset Defining and Measuring

HLV The Risks Mortality verses other risks Age and mortality risk Level

Premiums Types of Life Insurance - Pooling and financial risks The contract

The Buy Term Debate.

CHAPTER 5: PRINCIPLES OF LIFE INSURANCE: PREMIUMS: Determination

of Premiums Premiums and Price Elements of Premium Mortality The

Mortality Table Standard Mortality Table Calculation of Mortality Costs

Interest - Future and Present Value of Annuity The Net Premium Net single


Premium Net Level Annual Premium Gross Premiums Reasons for Loading

Loading for Expenses Loading for contingencies Bonus Loading.

CHAPTER 6: PRINCIPLES OF LIFE INSURANCE: PROFIT AND RETURNS: The

Actuarial Control Cycle Reserves Net and Gross Premium Reserves Assets

Shares and Surrenders Valuation and Surplus Analysis of Surplus

Sources of Surplus Determining the divisible surplus Factors influencing

retention of surplus Free Assets Distribution of surplus The Bonus

mechanism Reversionary Bonus Cardinal principles in bonus distribution

Re valorisation The contribution method Investment and Unit Linked

Insurance.

CHAPTER 7: LEGAL FOUNDATION OF INSURANCE: Sources of Law

Elements of Insurance Contract The Principle of Adhesion The Principle of

Uberrims Fides Material Facts Breach of Utmost Good Faith Mis-

Representation - Representation and Warranty The principle of Insurable

Interest The Principle of Subrogation The Principle of Contribution

Proximate Cause.

CHAPTER 8: PENSION HEALTH AND GROUP INSURANCE: Pensions and Old

Age Income Security Public Pensions Occupational Pensions Personal

Pension Pensionsthe value proposition Morbidity and Insurance Medical

Expenses Insurance Managed Care and Medical Expenses Living Benefits

Long Term Care Discuss the Group Insurance.

CHAPTER 9: THE FINANCIAL MARKET PLACE AND INSURANCE:

Introduction of Finance and Financial Products Basic Categories of Financial

Products Distinctive Features of Financial Products Attributes of Financial

Assets Risk Liquidity Convenience Tax Benefit Fiduciary Responsibility

Financial Market-A Taxonomy Primary and Secondary Market Money and

Capital Markets.

CHAPTER 10: INSURANCE: THE CHANGING CONTEXT: Demographics and

other changes Life Cycle Changes Family Changes The Three Pillars

Changing Profit of Non-Life Risks Financial Market Changes Implication

and Industry Responses.


CPAIM BL02:- Personal Financial Planning

First Edition: 2012

Contents

CHAPTER 1: BASICS OF FINANCIAL PLANNING: What is Financial Planning

Needs for Financial Planning Disintegration of the Joint Family System

Multiple Investment Options Changing Lifestyles Inflation Increased

Iongevity Other Contingencies Right time to start Financial Planning

Financial Advisory Services - Financial Planner Steps process of Financial

Planning Personal Financial Statements Personal Financial Ratio

Certification requirement for a financial planner Checking Regulatory

Authority.

CHAPTER 2: RISK AND RETURN: Risk-Return Trade Off Personal, External

Factors that influence risk exposure Type of Investment Risks Investment

and associated risk return trade-off Time value of Money Historical Return

Summary Statistic Measure Historical Risk Expected Return Measure

Risk Adjusted Returns Rupee cost Averaging & the power of compounding.

CHAPTER 3: PORTFOLIO MANAGEMENT: What is Portfolio Management

Portfolio Manager - Portfolio Theory Stages in Portfolio Management - Tax

benefits - Investment Horizon Asset Allocation Portfolio Management

Strategies - Constraints in Portfolio Revision - Portfolio Performance

Evaluation.

CHAPTER 4: INVESTMENT VEHICLES: Meaning of investment vehicles

Classification of investment Bonds and Debentures Types of Bonds

Mutual Funds Fixed Maturity Plans - Tax advantages under Fixed maturity

plans.

CHAPTER 5: RETIREMENT PLANNING: Need for Retirement Planning - Need

for income replacement in retirement Schemes available Sources for

funding retirement corpus Government sponsored plans National pension

System Income tax concession Employer Sponsored Pension Plans -

Defined Benefit Plans Voluntary Pension Plans or Annuity Plans Optimising


returns on retirement plans Maintenance of Retirement Plan Pensions in US

Types of IRAs.

CHAPTER 6: RISK MANAGEMENT AND INSURANCE PLANNING: Risk

Management and Insurance Risk, perils and Hazard Process of Risk

Management Requirement of an Insurable Risk Understand Life Insurance-

Concept, types, needs of Human Life Value Term Plan Tax Benefits What

is HLV Calculation, Method, Need based Approach of HLV General

Insurance General Insurance Products.

CHAPTER 7: ESTATE PLANNING: Needs - Different methods to bequeath

estate / wealth through Wills, Trust, Gifts, Power of Attorney, Partition, Life

Insurance - Intestate Succession in India General Rules for Succession -

Inheritance Muslim Law in India.

CHAPTER 8: TAX PLANNING: What is Tax Planning Income Tax Law in India

Basic Concept Definitions Income Tax Rates Education Cess Incomes

Exempt from Income Tax Classification of Heads of Income Income tax on

Salary VRS guidelines Quantum Exemptions Tax Free perquisites

Income from House Property Gross Annual Value Profits and Gains of

Business or Professions Depreciation & its definition Capital Gains

Income from other sources Deductions Clubbing of Income Aggregation of

Income Deductions and Rebates Rebates and Reliefs Wealth Tax Gift

Tax.


CPAIM BL03:- Professional Selling

First Edition: 2012

Contents

CHAPTER 1: THE SELLING PROFESSION: Selling as profession Challenges

Factors in effectiveness Selling Contexts Methods of Selling Steps for an

effective sale.

CHAPTER 2: SELLING AND MARKETING: Term of Sales and Marketing

Different Methods and approaches to selling Marketing Functions.

CHAPTER 3: THE PHILOSOPHY OF SELLING AND MARKETING: Different

Orientation and philosophies of the sales and marketing approach Sales and

Marketing Common Threads.

CHAPTER 4: APPROACHES TO SELLING INSURANCE: Fundamental

approaches for selling Life Insurance HLV Approach Need Analysis

Approach Vogue Methods Positioning Life Insurance Principle Value

Propositions of General Insurance General Insurance Products Approaching

Prospects Risk Management Process Identify needs for Insurance.

CHAPTER 5: EXPLORING THE MARKET: Definition of ones market Process

of Market Research Companys Data Base Internal Report Marketing

Intelligence Marketing Research Customer Market Segmentation How

market is targeted.

CHAPTER 6: PROSPECTING: Importance of Prospecting Hurdles of

Prospecting Approaches Methods of Prospecting.

CHAPTER 7: GETTING THE APPOINTMENT FOR A SALES INTERVIEW:

Necessary to search for an appointment various contexts for which

appointment may be sought - Fixing the appointment Language use - Plan,

Do, Review.

CHAPTER 8: THE SALES INTERVIEW: Confidence Risks Opening of the

meeting - structure of the discussion - effective questioning techniques -


prospects needs - Financial Planning Tool - Fact Find Formats and their

applications - Wealth Enhancement.

CHAPTER 9: PRESENTING THE SOLUTIONS: Neuro Linguistic Programming

Personality Types How to structure a solution High Net worth Individuals

How to convince the prospects.

CHAPTER 10: OBJECTIONS HANDLING: Welcoming Objections - Approaches

to handling objections Meeting an objection Life Insurance the principal

objections.

CHAPTER 11: THE CLOSE: Significance of closing a sale Effective Closes

Probability close Trial Close Summary Close Fear Close The Weightage-

assignment Close Implied Close.

CHAPTER 12: CONTINUING THE RELATIONSHIP: Customer Lifetime Value

Approaches to building Customer Relationships.

CHAPTER 13: THE DISCIPLINES OF SELLING: Introduction of Disciplines

Self Awareness Planning and goal setting Role of Persistence and averages

Ethics Managing Frustration Work Life Balance.

CHAPTER 14: THE KARMA AND THE DHARMA OF SELLING: Karma

Probable approaches Perception Dharma.

CHAPTER-15: INSIGHT: MAKING OF A SUCCESSFUL INSURANCE SALES-

PERSON


IC 02 - Practice of Life Insurance

(Revised Edition: 2011)

Contents:

CHAPTER 1: PRACTICE OF LIFE INSURANCE: Overview of the Indian

Insurance Market Growth of Insurance business in India Organisational

structure of the Life Insurance Corporation of India (LIC) Postal Life

Insurance Organisational structure of Postal Life Insurance Appointment of

life insurance agents and their functions Need of an agent in life insurance

selling Appointment of agents Remuneration to agents Trends in life

insurance distribution channels.

CHAPTER 2: PREMIUMS AND BONUSES: Concept of premium Different

types of premium Different factors considered in calculating premium

Bonus in policies Different types of bonus in life insurance policies.

CHAPTER 3: PLANS OF LIFE INSURANCE: Different types of life insurance

plans Term Plan Endowment Plan Money Back Insurance Plan Whole-

Life Insurance Plan Unit Linked Insurance Plans (ULIPs) Joint Life

Insurance Plans Child Insurance Plans Rider benefits Industrial life

insurance MWP Policies Keyman insurance Health insurance and its

types.

CHAPTER 4: ANNUITIES: Understand the concept of annuity Different types

of annuity plans Advantages and disadvantages of annuity Annuity Vs Life

Insurance Important terms used in annuity

CHAPTER 5: GROUP INSURANCE: Importance of group insurance schemes

Main features of group insurance schemes Eligibility conditions in group

insurance Different types of group insurance schemes Group Term

Insurance Scheme Group Gratuity Scheme Group Superannuation scheme

Types of group superannuation schemes Group Leave Encashment scheme


Employees Deposit Linked insurance Scheme Group Insurance Scheme

in-lieu of EDLI Social Security Scheme.

CHAPTER 6: LINKED LIFE INSURANCE POLICIES: Concept of Unit-linked

policies ULIP premium and its break-up Types of funds in ULIPS

Traditional plans Vs ULIPS How ULIPS work Top Up & NAV Features of

ULIPS Revival of ULIPS IRDA guidelines on ULIPS.

CHAPTER 7: APPLICATIONS AND ACCEPTANCE: Fundamentals of life

insurance contracts Principles of utmost good faith Insurable interest Life

insurance policy application and process Proposal form and related

documents.

CHAPTER 8: POLICY DOCUMENTS: Importance of a policy document Format

of a policy document Policy schedule and its various components

Conditions and privileges in a policy document Duplicate policies.

CHAPTER 9: PREMIUM PAYMENT, POLICY LAPSE AND REVIVAL: Premium

calculations Surrender value and non-forfeiture options Revival of lapsed

policies and its types Revival of postal life insurance policies.

CHAPTER 10: ASSIGNMENT, NOMINATION AND SURRENDER OF POLICY:

Assignment of life insurance policies Conditional assignment Absolute

assignment Process of Assignment Nomination Process of Nomination

Features of Nomination Assignment Vs Nomination Surrender of policies

Foreclosure of insurance policies.

CHAPTER 11: POLICY CLAIMS: Different types of policy claims Survival

Benefits Death Claims Maturity Claims Submission of Proof of title at

claim processing stage Early Claims & Non early claims Documents

required for processing early claims Death due to un-natural causes or

accidents Nomination Assignment Waiver of evidence of title Claims

Concession Clause and Extended Claims Concession Clause Presumption of


Death Insurance Riders Accidental Death Benefit rider Permanent Death

Benefit Rider IRDA regulations w.r.t Claim payments.


IC 11 - Practice of General Insurance (Revised Edition: 2011) Contents:

CHAPTER 1: INSURANCE LEGISLATION: The Insurance Act 1938 Insurance

Regulatory & Development Authority (IRDA) Act 1999 General Insurance

Councils Amendments to Life Insurance Corporation Act 1956 Amendments

to General Insurance Business (Nationalisation) Act regulations issued by IRDA

Motor Vehicles Act 1988 Other Acts Exchange Control Regulations

Consumer Protection Act 1986 Insurance Ombusdman, Market Statutes &

Regulations that affect conduct of business in India,

CHAPTER 2: INSURANCE MARKET: Historical Present scenario Agents

Corporate Agents Brokers Third Party Administrators (TPA) Surveyors /

loss Assessors Overseas Markets U K U S A,

CHAPTER 3: INSURANCE FORMS: Proposal Forms Cover Notes Certificate

of Insurance Policy Forms Endorsements Interpretation of policies Co-

insurance Standard policies.

CHAPTER 4: FIRE & MARINE INSURANCE COVERAGES: Fire insurance

Coverages Marine insurance Coverages Types of Marine insurance policies

Duty & increased value insurance.

CHAPTER 5: MISCELLANEOUS COVERAGES: Motor insurance Liability only

policy Package policy Personal Accident insurance health insurance

Burglary insurance Baggage insurance Legal Liability insurance Public &

Product Liability insurances Professional Indemnity insurance Workmens

Compensation insurance Fidelity Guarantee insurance Bankers Indemnity

insurance Carriers Legal Liability insurance Jewellers Block insurance

Composite policies Aviation insurance Engineering insurance Rural

insurances Micro insurance.


CHAPTER 6: SPECIALISED INSURANCES: Industrial All Risks insurance

Advance Loss of Profits insurance Oil & Energy Risks insurance Satellite

insurance.

CHAPTER 7: UNDERWRITING: Objectives and approach Underwriting policy

Class Rated Products Individually Rated Products Filing of products Role

of Actuary Compliance officer Underwriting Practice in different classes of

insurance Moral hazard Underwriting of physical hazards Declined risks

Risk inspections Reinsurance Risk Management Insurers role in risk

management Documentation procedure Renewal procedure Customer

service IRDA Regulation Protection of Policyholders Interest.

CHAPTER 8: RATING & PREMIUM: Classification of risks Discrimination

Bonus/Malus Claims cost Acquisition cost Management expenses

Classification of products Premium Short period scales Failure of

consideration Refund / return of premium Advance payment of premium.

CHAPTER 9: CLAIMS: PRELIMINARY PROCEDURE Loss minimization

Procedure Claims form Investigation & assessment Surveyors and loss

assessors Claims documents Arbitration Discharge vouchers Post

settlement actions Recoveries Salvage & loss minimization In house

settlement Practices in U K & USA.

CHAPTER 10: INVESTMENT & ACCOUNTING: IRDA Investment Regulations

2000 Accounting Reserves for outstanding claims Unexpired risk reserves

Other reserves Final accounts Profit & Loss account Balance Sheet

Returns Returns for Management control Claims, underwriting and general

administration returns Database on computer.


INTERMEDIATE LEVEL

CPAIM IL01:- Insurance and the Environment

Contents

CHAPTER 1: THE BUSINESS ORGANISATION AND ITS ENVIRONMENT:

Business and its environment, Economy and Business Some Elementary

inputs, Business and Business Activities, Classification of Business Activities,

Business Environment, Elements of the Macro Environment, Natural Resource

availability, Topographical factors, Economic environment, Environmental

Analysis.

CHAPTER 2: FOUNDATIONS OF ECONOMICS MACRO ECONOMICS:

Economics and Economy, Introduction of Economics, Study Economics, Public

goods, free goods and economic goods, Positive economics and normative

economics, Externalities, Economies of scale, Economic systems, Static and

Dynamic Analyses, Incremental Principle, Equi-marginal Principle, Society,

understand Global Affairs, Macro Economic foundations, Emergence of

Macroeconomics, Concepts of macroeconomic, Equilibrium and disequilibrium,

income and expenditure, Basic framework of an economy.

CHAPTER 3: MICROECONOMIC ANALYSIS AND THE FIRM: Types of

demand for goods and services, Understanding Demand, Elasticity of demand,

Demand and Income, Demand and Price of Related product, Elasticity of

Demand and Insurance, Production and supply, Factor Incomes the

distribution of output, Theory of the firm, Objectives, Profit Maximisation the

basic theory, Perfect competition, Price and output decision under monopoly,

Monopolistic competition, Role of advertisement and selling costs, Oligopoly,

Duopoly, Theory of firm, path-breaking.

CHAPTER 4: ROLE OF GOVERNMENT AND ECONOMIC PLANNING: Role of

Government, Evaluation of Government, Basic problems of an economy,

Socialist Economy, Mixed Economy, Efficiency, Production, Technology,


Economic Planning and Planning Models, Needs, Meaning, Price Mechanism,

Elements of Plan, Planned model, Planning in India.

CHAPTER 5: MACROECONOMIC INDICATORS AND BUSINESS

ENVIRONMENT: Economic Impact, relation between Demographics, income,

savings, investment and insurance, Demography, National Income and related

Indicators, concept and measurement of national income, Gross Domestic

Product (GDP), Measuring National Income, Purchasing Power Parity [PPP],

GDP and Welfare, Economic Development and Structural Change, Division of

Sectors as Organised and Unorganised, Poverty - an Analysis, Inequality,

Unemployment, Inflation, Reflect, Consumer Price Index (CPI), Recession and

the Business cycle.

CHAPTER 6: ECONOMIC REFORMS: LIBERALISATION, PRIVATISATION

AND GLOBALISATION: Liberalization, Privatization and Globalisation, reforms

in various sectors in India, needs of reforms, Reforms in Perspective, INDIAN

ECONOMY THE WOW factor, Demographic Transition, Agriculture,

Infrastructure, Industry, Rural Markets Government Spending in Rural India,

Trade and Investments, Booming Capital Market.

CHAPTER 7: FISCAL AND MONETARY POLICY: Public finance and taxation

(fiscal policy), Objectives of Fiscal policy, Fiscal Policy certain concepts, Public

Expenditure, Public Revenue, Specific and Ad-Valorem Taxes, Progressive,

Proportional and Regressive Taxes, Indian budget, The economic Survey, The

Budget, Capital Budget, Taxes, Value Added Tax [VAT], Tax burden, Tax

reforms, TAX - GDP Ratio, Tax rebate, The fiscal challenge, Budget policy

instruments, Monetary policy, Role of Reserve Bank of India, Relevance of

monetary and credit policy, Open Market Operations (OMO), Monetary Policy

and Inflation, The Budget.

CHAPTER 8: EXTERNAL SECTOR - FOREIGN TRADE: Open economy macro-

economics, The Balance of Payments, BoP Surplus and Deficit, Autonomous


and Accommodating Transactions, The need for foreign trade, Theory of

Foreign Trade, Foreign Trade Policy, History of Foreign Trade Policy, objectives,

Growth of Foreign Investment, FDI - Foreign Direct Investment, Purpose and

need for FDI, FDI-related Institutions in India, Legal Framework, Mode of entry,

Mergers and Acquisitions, Foreign Institutional Investors, Rising Domestic

Investment Demand.

CHAPTER 9: FINANCIAL MARKETS AND THE ECONOMIC ENVIRONMENT:

Overview of the financial systems, Instruments of financial Market, Market

Efficiency, Foreign Exchange Market, Money and Foreign Exchange Market,

Bank and their Role, Financial Intermediaries, State Level Financial

Corporations, Insurance Companies, Mutual Fund, Non-Banking Finance

Corporations, Banks as Financial Intermediaries, Banking in new Millennium,

The Indian Banking System, Deficiencies of Indian Banking System, Evolution

of Banking, Success and competition, liberalization, Current Scenario, Indian

Capital Market, Stocks and Scams, Liberalising Indias Financial Sector.

CHAPTER 10: GOLBAL TRENDS IN THE INSURANCE INDUSTRY: Key

Findings, Steep Driver and Factors.


CPAIM IL02:- Understanding Buyer Behaviour

Contents

CHAPTER 1: INTRODUCTION TO CONSUMER BEHAVIOUR: Definition of

Consumer Behaviour, Customer and Consumer, Application of Consumer

Behaviour, Consumer Behaviour and Insurance.

CHAPTER 2: MARKET SEGMENTATION, TARGETING AND POSITIONING:

Segmentation, Bases of Marketing Segmentation, Understanding Consumer,

Target Marketing Strategy, Targeting Market, Positioning, Product Positioning

Strategy, Process, Re-positioning and de-positioning.

CHAPTER 3: CULTURAL & ENVIRONMENTAL INFLUENCES ON CONSUMER

BEHAVIOUR: Define Culture, Characteristics of Culture, Changes in culture,

Types, Cultural influences, Environmental variations and cultural values,

Values Orientation influencing Behaviour, Subcultures and Consumer

Behaviour, Cross Cultural Consumer Behaviour, Problems in Cross Cultural

marketing, Analysis, Multinational strategies, Approaches to Global Branding,

Tangible Benefit, Strategic Implications, Types of Communication, Etiquette.

CHAPTER 4: FAMILY INFLUENCES & DECISION MAKING: The family and its

types, Household, Different Variables Affecting Families and Households,

Functions of the family, Family Life Cycles, Consumer Activities, Life Cycle

Stages and Purchase Behaviour, Family Decision-Making, Role Behaviour,

Consumer conflicts, Teenagers and post teens, Life style segment of teen

market, Relationship and family marketing, Decision Process.

CHAPTER 5: OPINION LEADERSHIP AND DIFFUSION OF INNOVATIONS:

Opinion Leadership, Opinion leaders and Receivers, Its Characteristics,

Diffusion and innovations, Channels of Communication, The social System,

Time, Diffusion and Adoption, Innovators, Role of Personal Influence, Market

Strategies.


CHAPTER 6: MOTIVATION: Needs, Drives and Goals, Needs and their types,

Needs Arousal, Maslows Hierarchy of Needs, Sheths Five Needs, Mc Clellands

Three Needs Theory, Ernest Dichters Motives for Consumption, Motives and

Motivation, Positive and Negative Motivation, Consumer Motivation, Consumer

Moods, Hedonic Consumption, Consumer Involvement, Personality, Theories of

Personalities, Freudian Theory, Trait Theory, Neo-Freudian Personality Theory,

Personality and consumer Diversity, Consumer innovativeness, Social

Character, Cognitive personality Factors, Consumer Materialism to Compulsive

Consumption, Brand Personality, Personality and Colour, Psychographics,

values and lifestyles, Social Class.

CHAPTER 7: PERCEPTION: Perception a Background, Factors in perception,

process of Learning, Learning and Memory, Classical conditioning, Negative

Reinforcement, Operant Conditioning, Vicarious Learning, Memory.

CHAPTER 8: CONSUMER DECISION MAKING PROCESS: Consumer Decision

Making Process, Steps in Decision making process, Consumer Decision Rules,

Level of Consumer Decision Making, Consumer Behaviour Model, Economic

and Marshallian Models, Disposable Personal Income, Learning or Pavlovian

model, The Psychoanalytical Model, Gestalt, Cognitive theory, Sociological

Model, Howard Sheth Brand Buyer Behaviour Model, Nicosia Model.

CHAPTER 9: ROLE OF RESEARCH IN UNDERSTANDING CONSUMER

BEHAVIOUR: Consumer Research Methods, Primary vs Secondary Research

Method, Focus Group, Personal Interviews, Projective Techniques, Observation,

Online research Method, Scanner Data, Research Sequence, Caution.

CHAPTER 10: EPILOGUE THE MEGA MORPHING OF THE INDIAN

CONSUMER SINCE MARUTI 800: Emerging, The path breaking changes, The

New, New Consumer, softer issues.


CPAIM IL03:- Agency Management

Contents

CHAPTER 1: THE NEED FOR AGENCY MANAGEMENT: Landscape of Life

Insurance Selling, Agency Productivity, Meeting Customer Expectation, General

Insurance the distribution challenges.

CHAPTER 2: MANAGING THE SALES PROCESS: Sales Management, Sales

Management and productivity, Sales Management as a Science, Sales

Management Levers in the Insurance Business, Steps involved in Life

Insurance Sales.

CHAPTER 3: THE AGENCY MODEL: Relevance of the Agency Model, The

Agency Distribution Structure, Role of Branch, Models of Agency Management,

Concept of Agency and principle, Agents Responsibility, The principles

responsibility, Agents vs other types of intermediaries, Corporate Agent and

Banks, Direct Sales, Terminating an agent.

CHAPTER 4: THE AGENT AND HIS ROLE: The Problems in Agents Life, Social

Stigma, Lack of Formal Sales Training, Financial security, Traits of Successful

Agents, Financial Strength, Personality Traits, The career Graph of an Agent.

CHAPTER 5: STAKE HOLDERS OF AN AGENCY UNIT: The Branch Office,

Role of Branch Manager, Business Drivers, Planning and budgeting for

performance, Recruitment, Training & Mentoring sales personnel, Records and

towards developing intimacy, Role of a Trainer.

CHAPTER 6: THE DISCIPLINES OF AGENCY MANAGEMENT: Introduction,

The disciplines of Supervision, Personal Effectiveness, Self-organisation and

work habits, prospecting, Disciplines of habits, Disciplines of Differentiation.


CHAPTER 7: AGENCY DEVELOPMENT AND MANAGEMENT CYCLE:

Developing an insurance agent, Agent Recruitment and Development Cycle,

Suspecting, Prospective Activities, Steps for agent recruitment activities,

Nominators, Agent Referrals, Name collection Activity, Screening, Business

opportunity Preview, Selection and appointment, Post recruitment stage,

Establishing Authority and Accountability, New Agent Development Process,

Reward and recognition platform.

CHAPTER 8: AGENCY MANAGEMENT TOOLS AND PROCESSES: Goal

Setting Exercise, Types of goals, Developing Sales Team, Classroom

intervention and Field orientation, Field Demonstration, Filed observation,

Feedback, Mentoring, Coaching, Different types of coaching model, Coaching vs

Mentoring, Performance Review Meeting, Counselling.

CHAPTER 9: REGULATORY COMPLIANCE IN AGENCY BUSINESS OF LIFE

INSURANCE: Introduction and Objective, Mission statements of IRDA,

Compliance to regulation, Code of Conduct of agents, Regulations of Agents in

Life Insurance, New/Modified Regulations.


CPAIM IL04:- Indian Insurance Industry

Contents

CHAPTER 1: EARLY DAYS: What is Insurance, The role of Lloyds, Insurance

& alternative ways of addressing risk, Evolution of modern insurance business,

Life Insurance in USA, Accident Insurance, Blue shield Plans.

CHAPTER 2: EVOLUTION OF INSURANCE IN INDIA: Practice of Insurance,

The insurance companies, Managing Agencies, Indian Insurance companies,

Non-Life Insurance Companies, Insurance legislation, The Insurance Act, 1938,

Amendments.

CHAPTER 3: LIFE INSURANCE NATIONALISED: Nationalisation of Life

Insurance, Arguments in Favour and in against, The Finance Ministers

Position, Structure of LIC of India, Controversies, Restructuring of LIC of India,

Progress of Life Insurance Industry.

CHAPTER 4: GENERAL INSURANCE NATIONALISED: Insurance Act amended

in 1968, Tariff Advisory Committee, Nationalisation of General Insurance

business, Nationalisation A record of Performance, The Role of GIC, Company

expansion and systems, Insurance Products the role of TAC, Instances of TAC

and tariffing, Non-Tariff products, Health/personal accident covers, Package

Covers, Shopkeepers policy, Market Agreements, P L I Act Insurance, D and O

Liability, Miscellaneous Insurance, Progress of General Insurance Industry.

CHAPTER 5: ECONOMIC REFORMS: India and the Socialistic Pattern,

Differences between Capitalist and Communist Systems, Crisis and Response,

Globalisation, The Public Sector, Financial sector, Capital Markets.


CHAPTER 6: REFORMS IN THE INSURANCE SECTOR: The Malhotra

Committee, the IRDA, Initiatives of the IRDA.

CHAPTER 7: PROGRESS SINCE 2000: Insurance Business, Life Insurance

Business Growth, Life Insurance Growth of Different Products, Life Insurance

Growth in Distribution Channels, Issues in the Development of Insurance in

India, Business and Organisation General Insurance, Marketing Channels in

Insurance, Intermediaries for Claims Processing - General Insurance, T.P.A. in

Health Insurance, Product Development in Insurance, Appointment of Actuary,

Products in General Insurance, Health Insurance, Different Govt. Schemes,

Hospitalisation Cover, General Insurance Emerging Products, Micro Insurance,

Types, Issues in Life Insurance, Issues in Growth and Productivity, Product

Diversity, Profitability, Profits After Tax Of Life Insurers, Retrospect.

CHAPTER 8: OTHER INSTITUTIONS AND LAWS: Role of Institutions and

Growth, National Insurance Academy, Institute of Actuaries of India (IAI),

Ombudsmen, Integrated Grievance Management System [IGMS], Insurance

Information Bureau, Indian Institute of Insurance Surveyors And Loss

Assessors, Motor Vehicles Act, Lok Adalat, Jald Rahat Yojana, Hit and Run

Cases, Various Acts Relating to Marine Insurance, Acts Relevant to Workmen /

Employees Insurance.


CPAIM IL06 (i):- Life Insurance Products

Contents

CHAPTER 1: LIFE INSURANCE PRODUCTS AN OVERVIEW: Defining

Products, Levels for products, various kinds of Life Insurance Products, The

term insurance plans, Disabilities Protection Riders, Endowment Life

Insurance, Whole Life Insurance, Universal Life Insurance, Investment-Linked

Life Insurance.

CHAPTER- 2: THE UNDERLYING CONCEPTS IN LIFE INSURANCE

PRODUCTS: The life Insurance product, Value for Customers, The HLV

Concept, Need Analysis Approach, Contact of indemnity and insurance, Long

term relationship aspects, The Post-Sales service obligation, The safety of

Investment Aspects, The immediate Estate Feature.

CHAPTER-3: NECESSITY, WANTS AND NEEDS: Difference between Needs,

wants and necessity, Hierarchy of needs, Limitation of Maslows Theory, FMCG,

Durables, Financial Products & Life Insurance, its Fundamentals, Features,

Typical Life Insurance needs, Death & Living Benefit products, Compounding

and Discounting.

CHAPTER 4: LIFE INSURANCE: A COMPLETE LIFE-STAGE FINANCIAL

PLANNING TOOL: Life Cycle stages and roles, Insurance Products for life

stages, Protection, Development in Term Assurance, Variants of Term

Assurance, Appeals, Health Cover-Stand alone and Riders, Terminal illness,

Medical Savings, Savings for needs or aspirations, Growth /Enhancement of

Wealth, Retirement Planning, Other Contingencies, Estate Planning, Insurance

Plans for Corporates, Key man insurance Restriction, Partnership Insurance,

Group Insurance.

CHAPTER 5: OTHER CONTINGENCIES AND PRODUCTS: Protection plans and

Disability, Disabilities and its solutions, Disability Income Insurance, Long


Term Care, Life Insurance Product Plans, Family Oriented Policies, Juvenile

Insurance, Dynamic Life Insurance, Capital Accumulation and Traditional

Plans, With Profit Plans, Bundled and unbundled plans, Universal Life,

Variable life Insurance plans, Universal Variable Life Plans, Unit linked

Insurance Policies, Unit Linked vs Traditional Life Insurance Plans, Difference

between ULIP and Mutual Funds, Riders, Pensions, Types of pension annuities.

CHAPTER 6: LIFE INSURANCE VS. OTHER FINANCIAL PRODUCTS:

Financial products attributes and attribute preferences, Attributes a closer

look, Liquidity, Types of Financial Products, Bonds, Mutual Funds, Equity

Shares, Fixed Deposit.

CHAPTER 7: LIFE INSURANCE PRODUCT DEVELOPMENT: Concept and

approaches to product Development, Steps of product development,

Comprehensive Business Analysis, Product Life Cycle and its Stages.

CHAPTER 8: TAKAFUL (ISLAMIC INSURANCE): Meaning and concept of

Takaful, Takaful Development, Takaful Market, Principles of Islamic Insurance,

Elements of Takaful, Takaful Operational Model, Segregated Funds,

Participants Investment Funds, Operating Principles of Takaful Company,

Administration of Takaful Company, Types of Life Insurance Products, Pricing,

Claims under Family Takaful, Distribution of Profit.


CPAIM IL06 (ii):- Pensions and Annuities Contents

CHAPTER 1: NEED FOR OLD AGE INCOME SECURITY: Understand the need

for old age income security, Know the different ways in which countries

address the issue of income security for their senior citizens, Comprehend the

structure of the Indian pension system, understand the motivations for

Pension reforms in India.

CHAPTER 2: ANNUITY FUNDAMENTALS: Understand the basic concept of

Annuity, Key stakeholders in an annuity contract, How is an annuity different

from Pension? How different is it from other financial products?, Know the

different types of annuity contracts and types of annuities : Defined benefit &

Defined Contribution, Immediate & Deferred, Single & Regular, Fixed and

Variable, Individual and Group.

CHAPTER 3: PENSION AND ANNUITY PRODUCTS: Knowing about the

different annuity products available in India-Corporate and Retail, An overview

of the Pension products available in other countries.

CHAPTER 4: VOLUNTARY PENSIONS: Pension Plans of Insurers, Pension Plan

Of Mutual Funds, PPF, Systematic draw dow, NSC, PPF, Reverse Mortgage.

CHAPTER 5: THE NEW PENSION SYSTEM: Background Saga of NPS,

Feature and Benefits, Operational structure, NPS Performance

CHAPTER 6: PRICING OF ANNUITIES: Organisational units involved in

developing and issuing annuity products, Understand the Factors that

underline pricing of annuities interest rates, longevity, expenses, lapse rates,

commission rates, availability of suitable investment vehicles, asset liability

management etc., Risk faced by annuity providers, Using Present Value and

Future Value to determine annuity rates


CHAPTER 7: REGULATION AND TAXATION OF ANNUITIES: Regulatory

Authorities governing Financial Institutions in India; Insurance regulatory

system in India; ombudsman, tribunals, appellate courts, etc. (regulatory

influences - also include LIC council and advisory committees for tax rule

changes), Licencing requirements, legalese, contract provisions, Scope of IRDA

examinations, Policy holder protection act, Market conduct laws, Solvency

laws, Reserve requirements, Investment regulations for pension business, Tax

provisions-a) for premium payments, b) for investment earnings, c) during the

payout phase, d) estate taxation.

CHAPTER 8: MARKETING OF ANNUITIES: Role and uses of annuities in the

Financial services market place, Annuities as asset protection products,

Factors that impact the market for annuities as retirement savings and

investment products, Marketing plan and segmentation for individual and

group annuities, Distribution of Annuities, Promotion, Sales practices and

customer behaviour, Challenges for annuity marketers, Future of Annuities.

CHAPTER 9: ANNUITY ADMINISTRATION: Accumulation phase and payout

phase, Recording transactions, Processing transactions, Furnishing contracts

and information, Disbursing money, Customer service, IT and annuity

administration.


IC 22 - Life Insurance Underwriting (Revised Edition: 2012) Contents

CHAPTER 1: LIFE UNDERWRITING-PRINCIPLES & CONCEPTS (PART-1):

Concepts of underwriting Risk assessment Mortality and morbidity

Assessing individual risks Selection of lives Classification of risks Types of

extra risks: Increasing, decreasing and constant extra risks Sub standard

and other extra risks Level premium Temporary extra premium

Diminishing Lien Exclusions Postponement of acceptance of risk

Declinature of the acceptance of risk.

CHAPTER 2: LIFE UNDERWRITING - PRINCIPLES & CONCEPTS (PART-2):

Numerical Rating in underwriting Standard, sub-standard and highly sub

standard risk Limitations of the numerical rating system Impact of nature

of occupation on underwriting Financial Aspects & Moral Hazard Methods

of rating sub standard risks Exclusions Postponement or deferment of

risk Declinature of risk Rider Benefits Waiver of premium benefit ADB -

(Accidental Death Benefit) TPD (Total permanent Disability) Term rider

Critical Illness rider Premium Loading Terms of acceptance Dating back

of policies.

CHAPTER 3: UNDERWRITING: STRUCTURE AND PROCESS: Processing of

the Proposal ( Application form) Policy issuance process Non-medical and

Medical Underwriting Medical Examination process Underwriting the Life

Insurance process Issuance of the Policy Document ( Policy Bond) Structure

of an underwriting function in a life insurance office Chief Medical officer

(CMO) Underwriting Support Team Underwriting Authorities

Underwriting Philosophy & Risk management Genetic testing in Life

Insurance Its advantages & disadvantages Challenges faced in

Underwriting.


CHAPTER 4: FINANCIAL UNDERWRITING: Purpose of financial underwriting

Objectives of financial underwriting Concept of Insurable interest & Insurable

value Personal Insurance Cover Human Life Value Insurance on

Housewives & Women with no earned income Insurance on Minors Key

Person Insurance Partnership Insurance Employer-Employee Insurance

Hindu Undivided Family ( HUF) Insurance under Married Womens Property

Act Sources of financial data ( documentation) Standard Income

Documents.

CHAPTER 5: OCCUPATIONAL, AVOCATIONAL AND RESIDENTIAL RISKS:

Sources of information to assess Occupational, Avocational & Residential risks

Basic risk factors for occupation Armed Forces, Aviation & Merchant Navy

Chemical Industry Mining Nuclear Power Industry Oil & Natural Gas

Industry Basic Risk factors for Avocation Aviational risks Car racing

Mountaineering Residential Risks.

CHAPTER 6: REINSURANCE: Need for reinsurance Types of reinsurance

Facultative reinsurance Automatic reinsurance Catastrophe reinsurance

Advantages of reinsurance arrangements Reinsurance treaty Underwriting

Audits by reinsurers.

CHAPTER 7: BLOOD DISORDERS: Functions of blood Components of blood

Functions of blood cells Key components of the CBC (Complete Blood

Count) Peripheral blood smear Anaemia ,its causes and classification Iron

Deficiency anaemia Thalassemia Risk assessment of anaemia Other

important disorders of blood Polycythaemia Leukaemia Lymphomas

Idiopathic Thrombocytopenic Purpura (ITP) Haemophilia.

CHAPTER 8: NERVOUS SYSTEM: Components of the nervous system Main

structures of CNS( Central Nervous System) Brain Stem Spinal Cord Main


Component of the Peripheral Nervous system CSF (Cerebro Spinal Fluid &

the meninges) Common disorders of the nervous system Common signs and

symptoms of the Nervous System disorders Common investigations done for

diagnosing Disorders of the Nervous system Common nervous system

disorders Neurovascular disorders Stroke Aneurysmal Subarachnoid

hammorrhage Underwriting considerations Underwriting epilepsy &

underwriting considerations.

CHAPTER 9: DIABETES MELLITUS: Diabetes Types of diabetes Type I

Diabetes Type 2 Diabetes Gestational Diabetes Impaired fasting

glucose(IFG) Impaired Glucose tolerance (IGT) Diabetes and insurance

(OGT) Oral Glucose Tolerance Test Glycosylated Haemoglobin - Complications

of Diabetes Diseases of the circulatory system Other complications of

Diabetes Clinical assessment of Diabetic applicants Treatment of diabetes

Underwriting diabetics.

CHAPTER 10: THYROID DISEASES: Thyroid gland Common problems

encountered with the thyroid gland Hypothyroidism and its main causes

Hypothyroidism Diagnosis, treatment & underwriting implications

Hyperthyroidism Graves Disease Goiter Diagnosis, treatment and

Underwriting implications of hyperthyroidism.

CHAPTER 11: URINARY SYSTEM: Components of the urinary system

Proteinuria & Albuminuria Haematuria Causes of haematuria Kidney

disease & its Diagnosis BUN & Serum Creatinine Disorders of the urinary

system and their underwriting implications Kidney stones Renal (Kidney)

failure Urinary tract infections Polycystic kidney disease Diabetic

nephropathy Glomerulonephritis Renal Cell carcinoma.

CHAPTER 12: THE RESPIRATORY SYSTEM: Introduction Components of

the respiratory system Mechanics of Respiration Common respiratory


conditions and underwriting implications Asthma & its classification Signs

& symptoms of Asthma & Treatment Exams & tests for respiratory disorders

Classification of severity of asthma Underwriting considerations

Bronchitis - (Acute & Chronic forms of bronchitis) Underwriting

considerations Emphysema Chronic Obstructive Pulmonary Disease (COPD)

Tuberculosis Underwriting Questionnaire.

CHAPTER 13: GASTROINTESTINAL (DIGESTIVE) SYSTEM: Introduction

Common terminology and investigations of the digestive tract Disorders of the

digestive system Tumors of the gastro Intestinal tract Liver functions tests

(LFTs).

CHAPTER 14: CARDIOVASCULAR SYSTEM: Introduction Common

terminology used in the diseases of the cardio vascular system Blood

circulation Common symptoms of disorders of the cardio vascular system

Common investigations for diagnosing disorders of the cardiovascular system

ECG-ECHO Cardiogram / ECHO Doppler Exercise Stress test ( Stress test/

Tread-meill test) Coronary angiography Nuclear cardiology Cardiac CT

Blood pressure and Hypertension Types of hypertension Complications of

hypertensions Underwriting implications Coronary Artery disease (CAD) ,

Coronary Heart Disease( CHD) Ischemic Heart disease (IHD) Risk factors

Symptoms & signs of CAD Types of Coronary Artery Disease Treatment of

Coronary artery disease Invasive and surgical procedures complications of

heart diseases Underwriting information Risk assessment of CAD Valvular

Heart disease, causes, treatment and underwriting considerations Types of

Congenital Heart Diseases Underwriting considerations.

CHAPTER 15: SPECIAL SENSES: DISORDERS OF THE EYES, EARS AND

NOSE: EYE Anatomy of the eye disorders of the eye Cataract Glaucoma

Retinopathies Retinal detachment Refractive errors Blindness

Strabismus/ squint Underwriting considerations of each other eye disorders -


EARS Anatomy of the ears Disorders of the ear Otitis Acute otitis media

Chronic Otitis media Deafness Presbyacusis. NOSE Anatomy Disorders

of the nose Deviated Nasal Septum Sinusitis Nasal polyps.

CHAPTER 16: GLOSSARY: Definition of commonly used terminology in

underwriting.


IC 45 - General Insurance Underwriting (Revised Edition: 2012) Contents

CHAPTER 1: INTRODUCTION TO UNDERWRITING: What is insurance

Profile of an Underwriter What is Underwriting Purpose & Objectives of

Underwriting Why Underwriting is important The Underwriting Process

Functions of Underwriting Risk selection Classification & Rating Policy

Forms Retentions and Reinsurance Rate Making Types of Underwriters

Underwriting Decisions Policies on Preferred / Standard / Sub-standard

Basis Monitoring Underwriting Decisions.

CHAPTER 2: METHODOLOGY & PROCEDURES OF UNDERWRITING:

Underwriting of New Business Scrutiny of Proposals Limits of Acceptance

Acceptance subject to controlling office Approval Acceptance of Extra

Hazardous Risks Underwriting Safeguards New Business Procedure

Underwriting of Renewal Business.

CHAPTER 3: PRINCIPLES OF RATE MAKING: An introduction making the

Rate Structure The Process of Rate Making Mathematical Equations Pure

Premium and Loss Ratio Methods Trended, Projected Ultimate Losses

Loading Factors Individual Risk Rating Experience Rating Composite

Rating.

CHAPTER 4: RATING APPROACHES IN PRICING: IRDA Guidelines on

Classification of General Insurance Products Class Rated and Individual

Rated Products Class Rating Individual or Merit Rating Schedule Rating

Experience Rating Objectives, Basis, Applicability, Essentials &

Disadvantages of Experience Rating Exposure Rating.

CHAPTER 5: FILE & USE REGULATIONS: Goals of Regulatory Supervision of

Insurance Business Filing of Rates & Policy Forms for Regulatory Review

Prior Approval File & Use Use & File FLEX rating Regulation


Components for Product Evaluation Indian Insurance Market IRDA

Requirement for Consideration & Review of Products Classification of

Products.

CHAPTER 6: APPLICATIONS OF FILE & USE REGULATIONS: File & Use

Requirement Role of Board Underwriting Policy Roles of Moderator /

Compliance Officer / Appointed Actuary / Advocate - Internal Technical Audit

Practical Applications of Guidelines detailed Discussion on Form A, B, C, &

D.

CHAPTER 7: TOOLS OF UNDERWRITING: Risk Management Framework

Approaches as Tools Tools for Effective Underwriting Insurance

Documentation Proposal Form, Policy Document, Endorsements,

Reinsurance Placement Slip, Insurance Certificates, Cover Notes, Renewal

Notices Exclusions Deductibles Co-insurance Reinsurance and

Retention levels Portfolio Management.

CHAPTER 8: TYPES OF POLICIES: Classification of Insurance Covers by

Subject Matter Insurance of Property, Earnings/Profits, Liability and Persons

Classification by Insurance Act Classification by Market Segments

Classification by Perils (Named Perils and All Risks) Customised Policies

Special Covers.

CHAPTER 9: UNDERWRITING PROFITABILITY & REVIEW STRATEGIES:

Planning for Underwriting Profits Importance of Underwriting Philosophy &

Policy Important Factors in Underwriting policy and Practice Estimation of

Underwriting Profit Factors that affect Underwriting Results Rating,

Underwriting Guidelines, Policy wordings, Reserving, Claims Processing, High

Exposures, High Expenses Reviewing the Underwriting Policy Analysis of

Claims Corrective Steps Underwriting Audit Review of Claims and Special

Events.


CHAPTER 10: Protection of Policyholders Interest: IRDA Protection of

Policyholders Interest Regulations 2002 Stipulations relating to Point of Sale

Proposal Grievance Redressal Procedure Policy Contents Claims

Procedures Servicing Mutual Obligations Policyholders Awareness

Disclosure by Insurers/

CHAPTER 11: RESEARCH & DEVELOPMENT IN UNDERWRITING, RATING

& PRODUCT INNOVATION CHALLENGES AHEAD: Need for Research &

development Use of Emerging Technologies Four Distinct Areas of New

Challenges New Potential Hazards, New Vulnerabilities, Untested Insurance

Product, Growing Needs for International Coverages Innovative Rating

Programmes Reasons for Underwriting Errors Product Innovation process.

CHAPTER 12: IT. APPLICATIONS IN UNDERWRITING: Challenging Market

Conditions Conceptual I.T. System Architecture I. T. System Services Need

for Speed, Flexibility & Functionality Individualization of Services and Policies

Important Business Concerns Customer Relationship Management

Technology & Underwriting Consistency & Speed, Business Process

Automation, Managing Underwriting Workflow Rules Engines Case

Management Web based Technologies Benefits of Technology-based

Underwriting A Different Perspective.

CHAPTER 13: GLOSSARY OF TERMS.


Property Insurance (Revised Edition: 2010) Contents CHAPTER 1:BASIC PRINCIPLES & THE FIRE POLICY: Background

Insurable Property Indian Contracts Act 1872 Basic Principles of Insurance

Utmost Good Faith Insurable Interest Indemnity Terms Relating to sum

insured viz. Reinstatement Value, Market Value, Book Value Subrogation

Contribution Fire Tariff & its Sections Standard Fire & Special Perils Policy

Insured Perils General Exclusions Conditions.

CHAPTER 2: ADD ON COVERS & SPECIAL POLICIES: Spontaneous

Combustion Earthquake Forest Fire Impact Damage Architects etc Fees

Debris Removal Reinstatement Value Policies & Local Authorities Clause

Declaration Policies Floating Policies Floater Declaration Policies Special

Clauses.

CHAPTER 3: FIRE HAZARDS AND FIRE PREVENTION: Hazard Based Risk

Classification Originating Hazards Contributory Hazards Hazards

Originating from Construction Constructional Features Silent Risk

Hazards Arising from Goods Miscellaneous Hazards Fire Protection Systems

Good Housekeeping.

CHAPTER 4: ERSTWHILE TARIFF RULES & RATING: The Standard Fire &

Special Perils Policy Partial Insurance Short Period Rates Cancellation of

Policies Mid-term Cover Rating Simple Risks List of Hazardous Goods

Industrial & Manufacturing Risks Utilities Storage Risks Classification of

Goods Tanks & Gas Holders,

CHAPTER 5: DOCUMENTS: Information through Proposal Form Risk

Inspection Report Premium Cover Note Warranties & Clauses Policy

Schedule Endorsements Renewal Notice.


CHAPTER 6: UNDERWRITING: Definition of Underwriting Classification of

Underwriting Factors - Large Volume of Business Selection of Business

Fixing Retentions Reinsurance Objectives & Types Proportional Treaties

Non Proportional Treaties Indian Fire Reinsurance Programme Guidelines

on File & Use Procedures Reinventing the Principles of Underwriting

Corporate Governance.

CHAPTER 7: CLAIMS LEGAL ASPECTS: Essentials of Processing & Settlement

of Claims Duties of the Insured Onus of Proof Doctrine of Proximate

Cause Insured perils Excepted Perils Rights of Insurers Warranties Ex-

gratia Payments Without Prejudice Rules of Interpretation Amount of

Claim Payable Meaning of Value in Relation to Buildings / Machinery /

Furniture, Fixtures, Fittings / Stocks / Household Goods & Personal Effects

Salvage Contribution Subrogation Pro-rata Average.

CHAPTER 8: CLAIMS PROCEDURAL ASPECTS: First Step on Receiving

Intimation of a Claim Registration Issue of Claims Form Appointment of

Surveyor Preliminary Survey Report Process of Surveying & Loss

Assessment Examination of Policies Inspection of Scene of Loss Cause of

Loss Assessment of Loss Final Survey Report and its Contents Final

Assessment of Loss.

CHAPTER 9: CONSEQUENTIAL LOSS INSURANCE 1: Object of Consequential

Loss Insurance Basis of Profits Insurance Measure of Indemnity

Indemnity Period Sum Insured Examples of Standing Charges The C. L.

Policy Material Damage Proviso Particulars in the Policy Schedule The

Specification Definitions of Net profits / Standing Charges / Gross Profit /

Turnover / Indemnity Period / Rate of Gross Profit / Annual Turnover /

Standard Turnover Adjustment Clause Variations & Special Circumstances

Worked Examples / Departmental Clause Return of Premium Losses not

Payable.


CHAPTER 10: CONSEQUENTIAL LOSS INSURANCE 2: Components of Rate of

Premium Basis Rate C L Rate Extensions of Cover Insured Property at

Other Locations Damage at Suppliers Premises Insurance of Wages

Auditors Fees Output Basis Specification Difference Basis Specification

New Business Clause Revenue Policies Gross Fees Policy Claims

Procedure.

CHAPTER 11: SPECIALISED POLICIES & OVERSEAS PRACTICE: Oil &

Petrochemical Plants Insurance System & Provisions of Erstwhile Special

Tariff on Petrochemical Risks Industrial All Risks Insurance Policy Details

Practice in U.K. relating to Standard Fire cover / All Risks Policy / Treatment

of Other Perils / Fixation of Sum Insured / Combined Policies / Package

Policies Practice in the U.S.A.


IC 27 - Health Insurance (First Edition: 2010) Contents CHAPTER 1: INTRODUCTION TO HEALTH INSURANCE: What &

Why of Health insurance Evolution and growth of Health insurance in India

Understanding the Health System in India Constitutional provisions in areas

of Public Health Government Health Dept.at the Central level, State level &

District & local levels Infrastructure of the Health care system Public &

Private Health Centers & Health care providers.

CHAPTER 2: HEALTH FINANCING MODELS AND HEALTH FINANCING IN

INDIA: Health financing models Financing of Health in India National Rural

Health Mission Challenges of access to Health care and Service Quality

Health insurance mechanisms & Financial Protection.

CHAPTER 3: HEALTH INSURANCE PRODUCTS IN INDIA: Types of Health

Insurance Products in India Hospitalization Indemnity product Personal

Accident products Critical Illness product Daily Hospital Cash benefit

Disease management covers Outpatient covers Investment products in

health insurance & health savings components Products for senior citizens

Micro-insurance products International Coverage products Other

specialized health insurance products.

CHAPTER 4: HEALTH INSURANCE UNDERWRITING: Health Insurance

underwriting What & why of health insurance underwriting Factors

impacting morbidity Basic principles of underwriting (Uberrima fides

Insurable interest Indemnity Contribution clause Proximate cause)

Documents used for underwriting The underwriting process Numerical

Rating method of underwriting Advantages & Disadvantages of the Numerical

Rating Method Types of underwriting decisions taken General Exclusions &

Standard Exclusions Group Health Insurance.


CHAPTER 5: HEALTH INSURANCE POLICY FORMS AND CLAUSES: Health

insurance contracts Insurance contracts VS other contracts Proposal forms

used in health insurance Comparison of proposal forms & questionnaires of

health insurance with Personal Accident insurance, Life insurance & Group

InsuranceDisability benefit plans or Income Protection Long term care plan

Health Savings / Investment Linked plans Group Health Insurance

Schemes Commonly used clauses in health insurance Pre-existing diseases

and exclusions Cancellation Clause Renewability clause Standardization

of definitions, forms, non-medical expenses in health insurance,

standardization w.r.t treatments (STG) .

CHAPTER 6: HEALTH INSURANCE DATA, PRICING & RESERVING:

Importance and use of data in health insurance for insurers, regulators,

government, TPAs and other stake-holders Data mandated from insurance

companies by regulators data warehousing Collection and collation of data

Data interpretation and advanced analysis of data Insurance Information

Bureau Actuarial function in health insurance companies Actuarial

techniques Fundamentals of pricing Claim reserving Data and data

modelling.

CHAPTER 7: REGULATORY AND LEGAL ASPECTS OF HEALTH INSURANCE:

Principles and practice of health insurance regulations Need for regulations

in health insurance Various kinds of risks in health insurance Regulatory

structure Licensing and registration Types of regulations Enforcement of

regulations Monitoring activity by regulators Prevention of mis-selling

Health insurance regulations in India Policy holders regulation and

Grievance re-dressal system health insurance for rural and informal sector

workers Role of IRDA in initiatives for standardization Pre-existing diseases(

PEDs) renewability of health insurance policies.


CHAPTER 8: CUSTOMER SERVICE IN HEALTH INSURANCE: Consumer

protection & policy holders protection Claim servicing types of cashless

claims Grievance redressal survey on grievance redressal.

CHAPTER 9: HEALTH INSURANCE FRAUD: Introduction Cause and effects

of frauds Classification of frauds health insurance frauds Vs general

insurance frauds types of frauds by the consumers stages of insurance

frauds cash defalcation types of fraud during in the contractual period and

claims stage methods to combat and mitigate insurance frauds technology

and process interface Initiatives by IRDA and the industry.

CHAPTER 10: REINSURANCE: Definition of reinsurance utility of

reinsurance health insurance and reinsurance models products supported

by reinsurers white labelling social reinsurance annual reinsurance

programme.


IC 99 - Asset Management (Year of edition 2005) Contents CHAPTER 1: ASSET MANAGEMENT: concept objective Importance of asset

management.

CHAPTER 2: BOND VALUATION: Meaning valuation Interest rates yield

spreads yield to maturity yield curve swaps Interest rate and bond

swaps spot and forward rates Interest rate risks.

CHAPTER 3: EQUITY VALUATION: fundamental analysis meaning various

models trading position and market efficiency estimation of growth rate and

return from share sensitivity analysis economy, industry and firm level

analysis charting and technical analysis decision making.

CHAPTER 4: SECURITIES: Nature and organization of securities market

government securities Industrial securities bonds/debentures types

equities direct and indirect equity investments common stock preferred

stock convertible stock money market instruments.

CHAPTER 5: RISK: meaning types; default risk financial risk liquidity

risk maturity risk call risk Interest rate risk Inflation risk exchange

rate risk business risk market risk yield types of return; Internal rate of

return, bond rate, realized and expected return, holding period return, gross

and net yield, nominal and real yield; risk return trade off.

CHAPTER 6: PORTFOLIO: Effects of combining securities portfolio selection

Investor preferences risk penalty portfolio analysis traditional and

contemporary approaches problems in portfolio management CAPM.


CHAPTER 7: MUTUAL FUNDS: Meaning need classification of MF schemes

operational, portfolio based classifications Asset management Companies

functions Indian scenario.

CHAPTER 8: EVALUATION OF PORTFOLIO PERFORMANCE: Need different

methods of evaluation time horizon Treynors measure Sharpe measure

Jensen Measure Fama Measure.

CHAPTER 9: DERIVATIVES: Meaning futures Options hedging hedging

using futures stock options.

CHAPTER 10: FOREIGN EXCHANGE MANAGEMENT ACT (FEMA):

Background basic definitions provisions main functions of RBI under FEMA

Securities and Exchange Board of India(SEBI) organization powers and

functions Insurance Regulatory and Development Authority (IRDA)

organization powers and functions other regulators RBI organization

functions.


IC 78 - Miscellaneous Insurance (Revised Edition: 2010) Contents: CHAPTER 1:PERSONAL ACCIDENT INSURANCE: Introduction Insurance

Principles and legal aspects affecting Personal Accident Insurance Basic

Coverage Additional Benefits Exclusions Conditions Underwriting

Considerations Rating Claims procedure Legal Aspects of Personal

Accident Insurance Group Personal Accident Insurance Types of Personal

Accident Insurance.

CHAPTER 2: INTRODUCTION TO HEATH INSURANCE: History of Health

Insurance Coverage Exclusions Rating and discounts Schedule

Proposal; Developments in Health Insurance sector Third Party

Administrators - Covers for the Social sector Group Schemes.

CHAPTER 3: OVERSEAS HEATH INSURANCE: Basic concept Basic coverage

Additional coverage General exclusions specific conditions plans

proposal form premium policies designed for specific groups.

CHAPTER 4: BURGLARY INSURANCE: Introduction - Different IPC Sections

and their relevance to Burglary Policy - Coverage - Exclusions Conditions

Extensions - Underwriting Considerations - Rating Pattern - Claims Procedure

Investigation Assessment - Types of Burglary Covers - Present day market

scenario and demands.

CHAPTER 5: MONEY INSURANCE: Introduction, Coverage, Special features,

Exclusions, Conditions, Underwriting considerations, Rating Pattern, Claims

Procedure.

CHAPTER 6: FIDELITY INSURANCE: Introduction, Coverage, Exclusions,

Conditions, Underwriting Considerations, Rating Pattern, Claims Procedure,

Types of policies Court and Government Bonds Commercial Guarantees.


CHAPTER 7: BANKERS INDEMNITY AND JEWELERS BLOCK INSURANCE:

Introduction Coverage, Exclusions Conditions Special features

Underwriting Considerations Rating pattern Claims procedure.

CHAPTER 8: OTHER MISCELLANEOUS INSURANCES: Pedal Cycle Insurance

Plate glass insurance Missing Documents Indemnity Neon Sign Insurance

Blood Stock (Horse) Insurance Pet Dog Insurance Sports Insurance etc.

CHAPTER 9: PACKAGE COVERS: Shopkeepers Package (Evolution and basic

details) Doctors Package Office Protection Package for Executives and

Businessmen Package Policies for Credit Societies House Holders Package

Complete Package for Families etc.

CHAPTER 10: SPECIALIZED COVERS THE NEW TREND: Special

Contingency Policies Machinery and Equipment Event Insurances

Matches Entertainment events; Latest requirement of covers Identity Theft

Theft of Portable items ATM Withdrawals Kidnap and Ransom Intellectual

Property Rights E-Commerce Web Business.

CHAPTER 11: REINSURANCE: Concept of Reinsurance Types of Reinsurance

Reinsurance Programs in India.

CHAPTER 12: RURAL INSURANCES 1: Government Role, IRDA Regulations

Market Agreements NGOs and Agents Role Coverage available Cattle

Insurance Sheep Goat Poultry Duck Aquaculture.

CHAPTER 13: RURAL INSURANCES 2: Different Policies Insurance of

Elephants Pigs Rabbits Zoo Circus Animals Sericulture Honeybee

Horticulture Agricultural Pump set Failed Well Lift irrigation Salt Works

Pedal Cycle Cycle Rickshaw Animal Drawn Vehicle Hut Farmers

Package Tribal Package etc.


IC 67 - Marine Insurance (Revised Edition: 2010) Contents CHAPTER 1: BASIC CONCEPTS: Evolution and need for Marine Insurance

Various Acts to regulate the Marine Insurance Market Organisation of Llyods

International Maritime Bureau Tariff Advisory Council General Insurance

council General Insurance Corporation of India Marine Insurance Act.

CHAPTER 2: FUNDAMENTAL PRINCIPLES: Fundamentals of Principles

guiding the Marine Contract- Warranties Utmost Good faith Insurable

Interest Reinsurance Assignment and passage of interest in Marine

Insurance Indemnity Valued and Unvalued Policies Subrogation

Abandonment Contribution proximate cause.

CHAPTER 3: ARRANGING FOR INSURANCE (CARGO)L: Proposal Form

factors for acceptance Type of Vessel The Voyage or Transit Type of Cargo

Packing forms Containerization Conditions of Insurance Inco Terms

Declaration Forms Marine Cover Note Policy Form endorsements

Container Transport.

CHAPTER 4: CARGO INSURANCE COVERAGES: Rules of Interpretation

Stamp Duty for Cargo Policies Risks covered by Institute Cargo Clauses

(A)/(B)/(C) Exclusions Duration of cover Termination of contract of

carriage Institute War Clauses Institute Strikes Clauses Sea/Air

Registered Mail and Postal Sending by Air Institute Replacement Clause

Pair and Set Clause Cutting clause- label clause Picking Clause Garbling

Clause Cargo ISM Endorsement Loading /Unloading Clause.

CHAPTER 5: CARGO INSURANCE COVERAGES: Institute Trade Clauses -

Institute Commodity Trade Clauses Institute Coal clauses Institute Jute

Clauses Institute Bulk Oil Clauses Package Policy For Coffee Package


Policy for Cardamom Estates Package Policy for Rubber Estates Tea Crop

Insurance Cargo in sailing vessels Inland transit Clauses 9Rail /Road)-

(A)/(B)/(C) Container Insurance Limits Clause.

CHAPTER 6: TYPES OF COVERS: Specific Policy Open covers Declaration

of Consignments Open Policies Annual Policy Duty and Increased Value

Insurance Insurance on FOB terms Shut out Cargo Exports incentives

Insurance Sellers Interest Contingency Special Storage risks Insurance

Package Policy under Duty Exemption Scheme Scope of Cover Multi Transit

policy Stock Throughput Insurance policy Sales turnover Insurance

Marine (Advance) Loss of profits Insurance Buyers Contingency Insurance

Important Conditions Difference in conditions cover Freight Contingency

Insurance- Strikes expensive /war expenses.

CHAPTER 7: HULL INSURANCE-PART 1: Classification of Vessels Indian

register of Shipping Types of vessels Types of Policies Institute Time

Clauses Hull Perils covered Pollution Hazard Duty of the Assured (Sue &

Labour) Collision Liability Sistership Deductible Notice of claims

Disbursements Warranty - Termination Perils Pollution Hazard Class ISM

Optional covers Institute Voyage Clause Insurance of Freight Time and

Voyage freight clauses Valued and unvalued Policies Loss of freight Loss of

Time clause Claim documents Port risk insurance Institute Fishing

Vessels Clause Protection & indemnity Associations.

CHAPTER 8: HULL INSURANCE-PART 2: Hull proposal form details of the

vessel trade details documents Valuation of ship Classification of vessels

Rating factors Hull initial rating Renewal rating Risks with adverse

underwriting features Warranties Insurance of Fishing vessels conditions

of Insurance insurance of sailing vessels Insurance of Inland Vessels

Damage Cargo Salvage Loss Insurance of dredgers.


CHAPTER 9: MARINE CLAIMS: Actual Total Loss Constructive Total loss

Particular Average Damage Cargo Salvage Loss General Average Loss

Sue and labour charge Particular Charges Salvage charges Forwarding

Charges Extra Charges Cargo Claims Procedures Intimation of Claim

Insurance Surveys Claims Payable Abroad Recoveries from third parties

Hull Insurance Claims Total Loss Partial loss Particular Average General

Average Salvage charges Sue and labour Charges Collision Liability

Claims of Ocean going vessels fishing vessels sailing vessels inland vessels

General Average Application of insurance to G.A Contribution and G.A

Sacrifice- Adjustment of General Average Salvage liability.

CHAPTER 10: MARINE RECOVERIES: Marine recoveries from third parties

Indian Carriage of Goods by Sea Act Shipowners responsibility,

liabilities/rights and immunities Notice of loss or damage Time limit for

legal action Carriage of goods by Rail Rights /Liabilities of Railway

Authorities Notice of Claim for Compensation Carriage of goods by Road Act

Carriage by goods by Air Multimodal transportation/ responsibilities/

liabilities/ limits Liabilities of Port Authorities major and other ports

Postal Authority Customs Salvage Disposal.

CHAPTER 11: ROLE OF BANKERS IN MARINE INSURANCE: Methods for

payment in International trade Consignment purchase Down payment

Open account Documentary Collections Letter of Credit detailed working

procedure Uniform customs and practices for Documentary Credits

Signatories Cover note Insurance Documents and Coverage Currency of

coverage amount of coverage port to port cover excess/franchise.

CHAPTER 12: LOSS PREVENTION, REINSURANCE, MARITIME FRAUDS:

Cargo Loss control and prevention Theft, Pilferage and Non Delivery

Handling and Stowage damage Water damage Multi Modal containerization

its inspection and packing and stowing of cargo Reinsurance of Marine


cargo and hull risks Methods of Reinsurance Proportional Facultative

Quota share Treaty Surplus Treaty Non proportional Excess of loss Stop

loss Pooling arrangements Alternative risk transfer Common Reinsurance

Programme Maritime frauds Scuttling frauds Documentary frauds Cargo

thefts Charter Party Fraud Piracy Maritime fraud Scuttling Frauds

Documentary Frauds prevention in cargo and hull insurance.


IC 72 - Motor Insurance (Revised Edition: 2010) Contents CHAPTER 1: INTRODUCTORY: History of Motor Insurance application of

basic principles types of motor vehicles private cars, motor cycle/ scooters,

commercial vehicles, trailers, miscellaneous and specific types of vehicles

types of policies.

CHAPTER 2: LEGAL ASPECTS 1: Motor Vehicles Act 1939 Motor Vehicles

Act 1988 Definitions Necessity for compulsory third party insurance

Certificate of Insurance Liability without fault Compensation on

structured formula basis Hit and Run Accidents Solatium fund.

CHAPTER 3: LEGAL ASPECTS 2: Motor Accident Claims Tribunals Lok

Nayalaya Jald Rahat Yojana International practices in third party

insurance.

CHAPTER 4: MOTOR POLICIES 1: Types of Motor Policies Coverage under

Liability Only and Package Policies Policy conditions Add on covers

Exclusions

CHAPTER 5: MOTOR POLICIES 2: Types of Motor Policies Private Car and

Two Wheeler Policies Commercial Vehicles Motor Trade Policies; Scope of

Standard Form of Policies Schedule Exceptions Conditions; Concept of

Insureds Declared Value.

CHAPTER 6: MOTOR INSURANCE PRACTICE: Rules and Regulations File

and Use approval Erstwhile Tariff Guidelines Policy Design and Rating

concepts during Tariff Regime Scope for changes consequent to detariffing

practices abroad.


CHAPTER 7: DOCUMENTS: Importance of documentation - Proposal Form -

Certificate of Insurance - Cover Note- Policy forms Endorsements and

Renewal Notice.

CHAPTER 8: UNDERWRITING: Underwriting and Rating considerations the

Vehicle the Usage the Area of Operation the Driver past experience the

Cover; Insurance and road safety Importance of Statistical data.

CHAPTER 9: CLAIMS 1: Own Damage Claims Survey Assessment

Settlement Claim Documentation and Procedures Types of losses

Fraudulent OD Claims.

CHAPTER 10: CLAIMS 1: Third Party Liability Claims Procedural Aspects

Legal Aspects Negligence Types of Claims Death Disability Property;

Legal System Tribunals Courts Knock for Knock Agreements Fraudulent

TP Claims.

CHAPTER 11: MOTOR THIRD PARTY POOL: The Pooling Concept Objectives

Pooling Procedure Pool Administration.

CHAPTER 12: IT APPLICATIONS IN MOTOR INSURANCE: Importance of

Statistical data in motor insurance Tariff Advisory Committee as statutory

data repository Data Inputs Underwriting Data Claims Data Reports.

CPAIM Couse Syllabus

Documents

insurance insurance

group insurance

mechanism of insurance

fundamentals of insurance

principles of life insurance

insurance management

uncertainty risk

perils risk