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
Insurance Institute of India 2
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.
Insurance Institute of India 3
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
Insurance Institute of India 4
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.
Insurance Institute of India 5
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 -
Insurance Institute of India 6
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
Insurance Institute of India 7
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
Insurance Institute of India 8
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
Insurance Institute of India 9
Death Insurance Riders Accidental Death Benefit rider Permanent Death
Benefit Rider IRDA regulations w.r.t Claim payments.
Insurance Institute of India 10
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.
Insurance Institute of India 11
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.
Insurance Institute of India 12
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,
Insurance Institute of India 13
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
Insurance Institute of India 14
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.
Insurance Institute of India 15
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.
Insurance Institute of India 16
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.
Insurance Institute of India 17
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.
Insurance Institute of India 18
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.
Insurance Institute of India 19
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.
Insurance Institute of India 20
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.
Insurance Institute of India 21
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
Insurance Institute of India 22
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.
Insurance Institute of India 23
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
Insurance Institute of India 24
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.
Insurance Institute of India 25
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.
Insurance Institute of India 26
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
Insurance Institute of India 27
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
Insurance Institute of India 28
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 -
Insurance Institute of India 29
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.
Insurance Institute of India 30
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
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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.
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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.
Insurance Institute of India 33
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.
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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.
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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.
Insurance Institute of India 36
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.
Insurance Institute of India 37
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.
Insurance Institute of India 38
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.
Insurance Institute of India 39
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.
Insurance Institute of India 40
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.
Insurance Institute of India 41
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.
Insurance Institute of India 42
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.
Insurance Institute of India 43
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
Insurance Institute of India 44
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.
Insurance Institute of India 45
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
Insurance Institute of India 46
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.
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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.
Insurance Institute of India 48
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.