MBA in Insurance in India

MBA in insurance offered by institutes in India

India is a country with majority young population. Even in villages and smaller cities of the country the youth is ambitious and want to be more educated to get a respectable job and build their own place in the society. Although everyone has a dream of their own which necessarily is not related to studies and earning a degree, a majority of young people first wants education in their field of choice.

Seeing this huge demand out there number of private and government colleges has mushroomed in various parts of the country. In addition to conventional graduation and post-graduation courses in fields of arts, science and commerce, now a days we can find in every nook and corner of the country offering a wide range of courses in fascinating and modern age fields like journalism, fashion designing, photography, data science, business analysis, engineering and many more.

Students now need not to go away from their home to pursue these courses and in this age of pandemic many educational institutes are bringing their favourite courses online in distance education mode which can be completed from the comfort of their home. Education of choice today is not a prerogative of a privileged few but has reached masses to make their dreams come true.

Master of business administration or MBA is one of the most sought in postgraduate degrees in India. For majority purpose of education is to join the workforce and MBA is considered to be a degree that certifies that professional attitude and understanding of basic corporate tools and techniques.

The all India council of technical education (AICTE) which comes under government of India accredits Post graduate diploma in management (PGDM) and Master in business administration (MBA) courses has permitted raise in the institutes offering these courses which is now approximately 3600 plus.

Also there are deemed universities and some other private colleges which are running their management courses separately and do not comes under the purview of AICTE. Indian institute of managements, Indian school of business and some other colleges like Faculty of management studies tops the chart in the league of these colleges offering management post graduate courses. This degree is generally completed over a time period of 2 years but there are some executive MBA and other similar courses which may run for a period of 1 year as well.

After degree in general management has proliferated institutes have started offering sector specific management courses in operations, telecom management, insurance, international business and others. There are 50 plus such domain specific programs offered by management institutes across the nation.

Sector specific MBA is not only due to the single reason of larger number of general management students already in place but different corporate sectors have specific sort of requirements and practice which if taught in post-graduation make the student job ready from the very first day they step out of the business school. Insurance is such a sector which demands knowledge and skill from various subjects in various departments.

It was also heard by many veterans and insurance industry senior leaders that that this industry being at a nascent and developing stage with private sector companies recently got entry, has a severe dearth of skilled professionals which could take forward the highly skilled domains and silos of an insurance company like, underwriting, claims handling and survey, strategy, accounts, marketing, operations and others.

Starting from engineering and geology which can be of great use in fields of property and motor underwriting and claims, life insurance companies require knowledge in medicine and life sciences. Accounting in insurance industry is also different from other sectors, similar is the case with functioning of a life and general insurance company which has different departments like underwriting, claims, operations, customer service, sales and marketing, IT and technology to name a few, and needs specific knowledge in theory and practice to cater the industry. In this current article we will name some institutes and provide a brief on the same which offers MBA and similar degrees in the field of insurance in India.

  1. National Insurance Academy, Pune: National insurance academy often named as NIA Pune offers post graduate diploma in management approved by AICTE with major in Insurance and minor in subjects like Finance, marketing and Information technology. This is a premier institute offering management development programs to senior managers of public and private sector insurance companies and few other certifications and degree courses related to insurance. It was started in the year 1980 under ministry of finance, government of India by public sector insurers, Life Insurance Corporation of India and General Insurance Corporation of India. This college is quite famous in Insurance education not only in Asia but also in Africa and Middle East region. It accepts the score of CAT and CMAT for admission in its PGDM program. In addition to all subjects of insurance in life and non-life streams here taught is other management subject like accounts, finance, Information technology, operations, human resources and many more. The institution boasts hundred percent placement since inception and is one of the most sought after colleges for recruitment purposes by majority of general and life insurance companies, insurance brokers, IT firms and also offers some good international placements. PGDM course is a two year residential course which is completed by many in house and visiting faculties of national repute. Many industry leaders are also invited for lectures which gives the students a hands on corporate experience. Also many famous national and international seminars are hosted by the college which gives the students a rich experience and contributes immensely to their learning.


  1. Birla Institute of Technology (BIMTECH): BIMTECH is another great institution that has made its name distinct and bold in the field of insurance education in India. Along with its other courses in the field of management science, it also offers post graduate diploma in management insurance business management which is a two year residential course approve by AICTE. It accepts the score of common admission test CAT majorly for admission in this programme. This course is also a unique blend of insurance and other management subjects including industry and education veterans as faculty completing the course. The students are job ready after completion of the course and are recruited by top insurance companies, brokers and IT MNC firms. The institute has already made up many strategic tie ups with best insurance minds on this planet like Institute of risk management IRM – UK and Swiss Re to develop their students in the best possible manner enriching them with the skills and mindset that make the corporate journey successful and rewarding. This course is accredited by National board of accreditation NBA and given MBA equivalence from association of Indian universities (AIU). Many international bodies like LOMA, CII and other provides relaxation and grace to students of BIMTECH in passing papers for earning respective credentials.


  1. Institute of Insurance and Risk Management (IIRM) Hyderabad: IIRM Hyderabad is a joint initiative of Indian regulator IRDAI and government of Telangana. It focusing on insurance education offers two years PGDM master level program approved by AICTE and also one year post graduate certificate in management approved by AICTE. This institute benefits from the knowledge and skill of its promoting parent IRDAI and enjoys great association with bodies of repute like society of actuaries USA, chartered insurance institute London and institute of insurance Mumbai. This institute in addition to courses mentioned above also conducts various training programs and an executive PG program in actuarial science under its umbrella. It admits students through various examination scores like CAT, MAT, XAT, GMAT and others. This college offers specialization in Finance, Final services and banking, Risk management, actuarial science, data science and analytics, Marketing, human resources management and insurance.


  1. School of Insurance studies, National Law University (NLU), Jodhpur: National Law University is a name in itself imparting world class legal education in India. In addition to its flagship undergraduate courses of BA LLB (Hons) and BBA LLB (Hons) it offers post graduate MBA Insurance which a two year residential programme comprising of four semesters. Since inception this course has been pretty popular with its passing out students getting recruited by top notch insurance and related companies. Faculty here is distinguished and are associated from various universities of international fame like Oxford and university of California to mention a few. It also holds all basics infrastructural requirements like classrooms, library and other sports and academic facilities promoting all round development of its undergraduate and post graduate students.


  1. Pondicherry University, Puducherry: Pondicherry University offers MBA in insurance management which is also a very high ranked popular course. Separate entrance examination is conducted by the university of 100 marks including questions from English, quantitative aptitude, logical reasoning, data interpretation, general awareness for admission to this particular programme. Similar to other degree courses as mentioned above here also the curriculum blend incorporates various management subjects with the insurance discipline to prepare future leaders of the insurance industry. The campus is well equipped with bright and distinguished faculty members on board to train the students with necessary boardroom and working skills to get the job done.

In addition to above we present below a list of some more educational institutes where future aspirants who want to join the developing and growing field of insurance as workforce can look forward to. MBA Insurance from Jamia Hamdard, New Delhi

  1. MBA Insurance and financial planning from Amity university, Noida
  2. Insurance management degrees from Bangalore University, Bengaluru
  3. MBA in Insurance and Risk from University of Burdwan
  4. MBA Insurance management from Singhania University, Jhunjhunu
  5. Marathwada Mitra Mandal’s college of commerce, Pune
  6. CMJ University, Shillong
  7. EMBA in Insurance from MET Centre of insurance training, research and development, Mumbai
  8. Post graduate diploma in Insurance business management from Symbiosis center for distance learning, Pune
  9. PGD insurance management from Arunodaya University, Itanagar
  10. Global open University, Dimapur

Apart from the list provided in this article which is indicative there are other institutions also providing a degree in this field, to know about them the candidates are required to do a bit research at their end as well. It is always beneficial on the part of the aspirant to do proper scrutiny of the various colleges and universities offering their course of choice, look to their fee structure, loan facilities available if required, placements in the past, talk to a few faculty and alumni to get a clear picture.

The aspirant should also visit the campus before paying the fee and get themselves officially admitted to get a real experience and then judge if that is the college that suits them well from every dimension and they want to get into.


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