Semester-wise Syllabus

Semester 1: Foundation Courses

1. Principles of Management
   • Management Functions (Planning, Organizing, Leading, Controlling)
   • Leadership in Insurance Firms
2. Business Economics
   • Micro & Macroeconomic Principles
   • Demand-Supply in Insurance Markets
3. Financial Accounting
   • Basics of Accounting (Journal, Ledger, Trial Balance)
   • Financial Statements (Balance Sheet, P&L)
4. Business Mathematics & Statistics
   • Probability & Risk Calculation
   • Statistical Tools for Insurance
5. Business Communication
   • Report Writing (Claims, Proposals)
   • Client Negotiation Skills
6. IT for Insurance
   • MS Office (Excel for Premium Calculations)
   • Introduction to Insurance Software (e.g., Guidewire)

Semester 2: Core Insurance Principles

1. Principles of Insurance
   • Risk vs. Uncertainty
   • Fundamental Concepts (Utmost Good Faith, Indemnity)
2. Types of Insurance
   • Life, Health, Property, Liability, Marine
   • Microinsurance & Reinsurance
3. Legal Aspects of Insurance
   • Insurance Contracts (Offer, Acceptance, Consideration)
   • IRDAI Regulations (India) / Global Frameworks (Lloyd’s, NAIC)
4. Marketing of Insurance Products
   • 4Ps in Insurance
   • Bancassurance & Digital Channels
5. Customer Relationship Management (CRM)
   • Claims Handling & Customer Retention
   • Ethics in Insurance Sales
6. Workshop: Insurance Documentations

Semester 3: Risk Management & Underwriting

1. Risk Management & Assessment
   • Risk Identification & Mitigation
   • Enterprise Risk Management (ERM)
2. Underwriting Process
   • Risk Evaluation Techniques
   • Pricing & Premium Calculation
3. Actuarial Science Basics
   • Mortality Tables, Premium Reserves
   • Introduction to R/Python for Actuarial Calculations
4. Claims Management
   • Claims Investigation & Settlement
   • Fraud Detection Techniques
5. Insurance Accounting
   • Reserves, Solvency Margins
   • Financial Reporting for Insurers
6. Field Visit: Insurance Company Operations

Semester 4: Advanced Insurance Practices

1. Life & Health Insurance
   • Annuities, Endowments, Term Plans
   • Health Underwriting (Pre-existing Conditions)
2. General Insurance (Non-Life)
   • Motor, Fire, Marine, Travel Insurance
   • Catastrophe Modeling
3. Reinsurance & Global Markets
   • Treaty vs. Facultative Reinsurance
   • Lloyd’s Market Operations
4. Investment Management for Insurers
   • Portfolio Management (Bonds, Equities)
   • ALM (Asset-Liability Management)
5. Digital Insurance (InsurTech)
   • Blockchain, AI in Underwriting
   • Usage-Based Insurance (Telematics)
6. Internship (4 Weeks with Insurer/Brokerage Firm)

Semester 5: Specializations & Regulations

1. Corporate Insurance
   • D&O (Directors & Officers) Liability
   • Business Interruption Insurance
2. Insurance Laws & Compliance
   • IRDAI, SEBI Regulations (India)
   • Solvency II (EU), NAIC (US)
3. Insurance Fraud & Forensic Accounting
   • Red Flags & Investigation Techniques
   • Case Studies (e.g., Ponzi Schemes)
4. Entrepreneurship in Insurance
   • Starting an Insurance Agency
   • Regulatory Approvals
5. Research Methodology
   • Insurance Market Trends Analysis
   • Report Writing
6. Capstone Project (Phase 1 – Proposal)

Semester 6: Practical Training & Dissertation

1. Strategic Insurance Management
   • Mergers & Acquisitions in Insurance
   • Competitive Benchmarking
2. Emerging Trends
   • Cyber Insurance
   • Climate Risk Insurance
3. Final Dissertation / Industry Project
   • Real-world Problem Solving (e.g., Designing a New Insurance Product)
4. Internship (8-12 Weeks with LIC, ICICI Lombard, Swiss Re, etc.)
5. Viva & Project Presentation

Additional Components:

• Certifications:
  • Licentiate/Associate (III, India)
  • Chartered Insurance Professional (CIP, Canada)
  • Certified Risk Manager (CRM, US)
• Workshops:
  • Mock Underwriting Exercises
  • Claims Settlement Role-Plays
• Software Training:
  • SAS for Actuarial Analysis
  • InsurTech Platforms (Lemonade, PolicyBazaar)