eMBA-Insurance

Master's Degree by MET Centre for Insurance Training, Research and Development Mumbai View Contact

Starting from: INR 3,50,000 Per Course (Taxes As Applicable) Request Info

MET, one of India's leading B-Schools and the CII (Chartered Insurance Institute), London, a premier professional body for the global financial services profession, have come together to launch eMBA-Insurance - a programme that will sharpen students into global insurance professionals, equipped to meet any industry challenge.

The programme taps into the CII's wealth of insurance knowledge and rich experience, derived from its global presence. This, coupled with MET's experience of 2 decades in delivering professional education that meets international standards, will make this a much sought after career option.

With a growth rate of 15-20%, the Indian Insurance Industry is poised for astronomical growth. The eMBA-Insurance programme will train professionals to add value to this industry, while capitalising on its amazing growth.

“Way back in 2005, MET recognised the need for highly skilled managerial professionals to service the rapidly growing insurance industry. With inputs from the best minds in the industry, we devised and launched a post graduate level programme in insurance and successfully placed our students in reputed companies in India and the international market, too. Today, the world has recognised the potential of Indian professional talent. Keeping this in mind, we thought the time was right to take professional education in the insurance category to the next level, by giving students the double advantage: Business acumen and strategic skills from our eMBA programme and world class technical inputs from the CII, London. The strategic tie up with the CII, London, will give our students the international edge and enable them to get enviable placement opportunities anywhere in the world,” says Mr. Chhagan Bhujbal, Chairman - MET.

The double edge
The programme for both, General and Life Insurance students, will entitle the students for a joint certification in e-empowered Management and Business Administration, with exclusive specialisation in the Insurance sector. They will also get training in London, which will give them exposure to the international market.
The management and business module for the eMBA-Insurance programme has been developed by MET, whereas the technical contents have been designed by the CII, London. Together, these leading educational bodies will deliver an unrivalled specialised educational offering that blends technical, managerial and business skills.

Certificate I

Paper I: Perspective Management

• Introduction to Management

• Planning

• Organising

• Leadership & management

• Control processes

• Case studies approach

Paper II:: Finance & Cost Accounting

• Objective

• Financial planning

• Appraisal / Ratio analysis, cash flow

• Sources of finance

• Elements of cost

• Material wages & overheads

• Costing methods - process, job, contract & service

Paper III: Managerial Economics & Indian Economics

• Scope & methods

• Economics & concepts

• Relevance to business

• Demand & Supply

• Production, distribution, consumption, cost, price, competition, monopoly, profit optimisation, elasticity, macro & micro analysis

• Macro & Micro economy

• Indian Economy

• GDP, GNP

• Economic Markets - India and the world

Paper IV: Organisation Behaviour

• Introduction

• Personality - determinants of personality

• Perception, attitude & value

• Motivation

• Group behaviour & group dynamics

• Organisation design & culture

• Leadership

• Organisation development

• HR - Practices, performance, appraisal

• Training & Development

• Competency Mapping

• HR & Business Law

Paper V: Marketing Management and Introduction to Marketing Research

• Introduction to Marketing Management

• Introduction to Marketing concepts, customer orientation

• Marketing environment & evaluation of opportunities

• Marketing research & Marketing information system

• Consumer buying process and organisation behavior

• Target Marketing

• Positioning & differentiation

• Marketing mix

• New Product development

• Personal selling

• Sales Management

• Brand - Branding

• Advertising and Sales promotion

Paper VI:

Section I: Introduction to Insurance

• Global business scenario

• Financial services

• Role of Insurance in Indian financial system

• History of Insurance

• Types of Insurance

• Present Insurance scenario in world

• Present Insurance scenario in India

• Future prospects for Insurance in India

• Principles of Insurance

• Practices of Insurance (Life & General)

Section II: Marketing, Servicing and CRM

• Distribution systems - CRM (Customer Relationship Management), Intermediaries, etc.

• Knowledge & information regarding policy condition

• Rights of Insured

• Marketing research / survey

Paper VII:

Section I: Fire and consequential loss / Business interruption policies

• Basic principles

• Covers

• Special policies

• Fire hazards and fire prevention

• Rating structure

• Documents

• Underwriting - Rating

• Claims

• Consequential losses

• Industrial All Risks - Package policies

Section II: Information Technology

• Importance of data / statistics

• Spreadsheets / databases

• Insurance specific software

• ERP Solutions

Paper VIII: Underwriting Process

• Underwriting and policy wordings

• Insurance products and associated services

• Underwriting considerations

• Establishing the price

• Managing exposure

• Paper IX: Claim Handling Process

• General procedures for the notification of claims

• Insurance products and associated services

• Claims considerations

• Claims handling procedures

• Claims settlement

• Management of expenses

Paper IX: Claim Handling Process

• General procedures for the notification of claims

• Insurance products and associated services

• Claims considerations

• Claims handling procedures

• Claims settlement

• Management of expenses

Semester Project for 100 Marks

Non Credit :

1. Commercial and Business Law including Company Law

2. Business Communication

Certificate II

Paper I: Taxation

• Direct & Indirect taxes

• Scope, definition & concepts

• Residential status

• Heads of income - salary, house property, business, capital gains and other sources

• Exemption of Income

• Deductions

• Sales Tax / VAT

• Tax on works contracts

• Implications of branch transfer & consignment

• Excise duty

• Mod VAT

• Self removal procedure

Paper II: Financial Management

• Cost of capital and capital structure planning

• Capital budgeting, investment decision and value of money theory

• Working capital management

• Estimation and financing

• Inventory

• Receivables

• Cash

• Dividend policy & bonus shares theory & practice

• Overview of banking system

Paper III: Marketing Applications & Practices

• Application of marketing concepts & strategic considerations

• Marketing planning

• Market estimations

• Marketing mix decision

• Marketing models

• Marketing audits

• Rural marketing

• SWOT analysis

• Marketing based decisions in rural market

• Strategies for rural market

• Retail management

• Product & Service management

Paper IV: e-Commerce

• Basics of e-commerce

• E-business categories

• Introduction to HTML

• Simple web page designing

• Generating revenue from website

• Marketing your site

• Electronic business analysis

• Business processes

• Capturing, validating & storing business data

Paper V: Life Assurance

• Knowledge and understanding of the scope of life assurance

• An understanding of its appropriate uses and administration

• Knowledge of the legal & regulatory influences on the conduct of this type of business

• The ability to apply knowledge and skills to practical situations

• The ability to synthesise different aspects of the syllabus and apply them to given scenarios

Paper VI: Personal Insurance

• Market practices of household insurance

• Policy cover and rating considerations of household insurance and other personal insurances

• Main claims procedures for personal lines

• Main aspects of the business environment

Paper VII: Risk Management

• An understanding and an appreciation of the role of risk management in producing an effective and efficient strategy for handling risk in any organisation

• The ability to apply knowledge and skills to practical situations

• The ability to synthesise different aspects of the syllabus and apply them to given scenarios

Paper VIII:

Section I: Motor Insurance

• Legal aspects & Market regulations

• Motor policies

• Motor pricing

• Documents

• Underwritings

• Claims

• Third party liability

Section II: Insurance Laws & Regulations

• Contract Act

• Insurance Act

• IRDA (Insurance Regulatory & Development Authority) Act

• LIC (Life Insurance Corporation) Act

• General Insurance Business Nationalisation Act

• Motor Insurance Act

• Marine Insurance Act

• Consumer Protection Act

• Lok Adalat

• Ombudsman

• Right to Information Act

• Foreign Exchange Regulation Act

• Legal aspects in investigation of claims

Semester Project for 100 Marks

Certificate III

Paper I: Business Mathematics

• Basic statistical concepts

• Summarisation of data

• Elementary probability theory

• Statistical distributions

• Sampling distributions

• Statistical estimation

• Test of hypothesis

• Correlation and regression

• Analysis of variance

Paper II: Strategic Management

• Strategy as planned action, its importance, process and advantages of planning

• Strategic v/s operational planning

• Leadership size

• Conventional strategic management / unstrategic management – the difference

• Changed circumstances

• Growth accelerator

• Strategic models

• Group project

Paper III: Consumer Behaviour & Sales Management

• Role of consumer behaviour in marketing strategy

• Individual aspects of consumer behaviour - perception, learning, information, processing, motivation, attitudes and personality

• External influences - social class, reference groups, culture, sub culture and family

• Sales management planning - information systems, forecasting, budgeting and planning quotas

• Manpower planning, Recruitments, Selection, Training and Development

• Time & territory management

• Sales incentives, compensation, performance, valuation and control

• Branding & Advertising (Integrated marketing communication)

Paper IV: Logistics

• Basics of Logistic / Logistic organisation

• Role of distribution

• Management issues & distribution

• Integrated supply chain management

• ERP solutions

• Transportation matrix

Paper V: Business and Economics

• An awareness and broad knowledge of the environment in which businesses operate

• A detailed knowledge and understanding of the economic, ethical, operational and financial framework applicable to UK companies

• The ability to synthesise different aspects of the syllabus and to apply learning specifically to the insurance industry

• The application of knowledge and skills to practical situations

Paper VI: Principles of Reinsurance

• Knowledge and understanding of the principles of reinsurance and their general application to the different methods of reinsurance

• Knowledge of the law and regulation relating to reinsurance

• Knowledge of the basic contract wordings

• Knowledge of the basic accounting considerations

• The ability to apply knowledge and skills to practical situations

• The ability to synthesise different aspects of the syllabus and apply them to given scenarios

Paper VII: Marine Hull & Associated Liabilities

Paper VIII:

Section I: Marine Insurance

i) Marine Cargo Insurance

• Basic concepts

• Fundamental principles

• Coverages

• Underwriting

• Claims

• General average and salvage

• Recoveries under subrogation

• Loss prevention, Maritime frauds, Reinsurance

ii) Marine Hull Insurance

• Underwriting

• Claims

• Coverages / different policies

• Institute Hull Clauses

iii) Oil and Energy Insurance

• Underwriting

• Claims

• Different policies / conditions

• Reinsurance

iv) Port package policies

• Underwriting

• Claims

• Different policies / conditions

• Reinsurance

Section II: Aviation Insurance

• Underwriting

• Claims

• Different policies / conditions

• Reinsurance

Semester project for 100 Marks

Certificate IV

Paper I: International Business

• Overview

• PEST factors affecting international business

• Government influence on trade

• International trade theories

• Foreign Direct Investment

• Country valuation and selection

• Collaborative strategy

• Forex

• International HR strategy

• WTO, GATT International trade agreements

Paper II: Projects in corporate management & Business policy

Paper III:

Section I: Miscellaneous Insurance

• Burglary Insurance

• Money Insurance

• Fidelity Guarantees

• Bankers’ blankets & Jewellers’ block policies

• Other miscellaneous policies

• Rural Insurance

Section II: Business Environment

• Types of organisation structure

• Organisation of Insurance companies

• Insurance Supervision & Regulation

• BPOs & KPOs in insurance industry

• Call centres in Insurance

• Competitive strategies in insurance

• Rural & Social responsibilities

Paper IV:

Section I: Engineering Insurance

• Contractor’s All Risk Policies

• Erection All Risk and Marine / cum-erection Policies

• Machinery, Contractor’s Plant and Boiler Policies

• Loss of Profits (Machinery) and Advance loss of Profits Policies

• Other annual policies

• Risk Inspection, Management and Loss prevention

Section II: Key man Insurance, Credit Shield, Micro Insurance & Agricultural Insurance

Paper V: Basis of Actuarial Science

• Probabilities

• Compound interest

• Accumulated value & present value

• General Consideration / Assurance

• Present values

• Annuities certain

• Mortality table / Life assurance premium

• Net premium for Assurance plans & Annuity plans

• Policy value / methods of valuating Data for valuation

Paper VI: Insurance Corporate Management

Paper VII: Business Ethics, C. G., C. S. R.

• Sources of Ethics

• Business Ethics in Selling, Marketing, Finance, H. R., Ecology

• Gender Equality & Whistle- blowing

• Corruption – Roots, Genesis, Personal Action Plan

• Corporate Governance

• Corporate Social Responsibility

• International Perspectives & Indian Ethos

• Being an Ethical Manager of the future

Semester project for 100 Marks
Insurance projects
Non Credit :
I) SPSS Module
II) Excel Module
The syllabus also includes presentations, group discussions, viva on all papers & grades shall be awarded for the same.

* CII syllabus subject to change due to exigencies

Performance Assessment

The teaching methodology adopted at the institute will consist of classroom sessions wherein students will be exposed to case studies, experiential learning, role play, scenario building as well as live industry projects. The emphasis will be on developing the understanding of the subject by the students since they are expected to convert teachings into application and execution mode. To facilitate this interactive learning process, they will be mentored and subdivided into learning groups or work teams which will facilitate team working as well as collective learning. Their curriculum would include industry visits, rural visits, societal relief exposures besides industry internships. Students’ participation in all these activities is compulsory.

Selected subjects like Principles of Management, Perspective Management, Strategic Management, etc. will be taught through case study method. For all subjects, students are expected to come to the class well prepared and updated. Faculty may take surprise exams at any point. During the study, students will be assessed subject wise based on the weightages mentioned

Credit Points evaluation system

Every subject will be given maximum of 1 point for its credit and minimum credit points required to clear the subject is 0.5. These points will be given on the basis of students' marks in the subject.

The certificates will be issued depending upon minimum 0.5 credit received in each subject for the certificate module. e.g. if maximum credit points are 11, minimum 5.5 credit points are required besides minimum 0.5 credit points in each subject.

The Sharpening Process

MCW: MET Class Work (in hours)
MFW: MET Field Work (in hours)

Highlights:
Apart from the class-room inputs, the students shall be exposed to following interfaces with the external world and the industry personnel, with a view to augment their theoretical learning with practical applications:

1. One week of ‘Introduction to the worlds of Insurance & Management’ by industry experts
2. Actual handling of policy-documents, forms, claims papers
3. Hands-on experience of I.T. applications used in industry
4. Projects, case studies & assignments involving real-life salespersons from industry, both life & general
5. Surveys of real-life cases from customer segments
6. Interaction with doctors, lawyers, ombudsman, CEOs, regulators, actuaries, chartered accountants & other industry specialists
7. Industrial visits to ports, airports, warehouses, brokers’ firms, insurance company offices & other relevant sites
8. Summer placements in reputable insurance companies
9. Hands-on experience in BPO/KPO
10. Interaction with International faculty
11. Video-conferences with International experts of various fields
12. Visit to Lloyd’s of London office for first hand experience of foreign insurance operations and insights into their strategies and concerns (optional)

Admission Procedure:

Candidates applying for this programme will be selected on the basis of: Group Discussion + Personal Interview + Work Experience & Academics

Important:
1. GD + PI, shall be held at MET, Mumbai, India on the date which will be informed to the candidates in advance
2. The weightages for the above two categories will be as follows:

 Note:

• The Management reserves the right to fix the minimum qualifying marks for each of these
  components/subcomponents and/or change the components, subcomponents and their weightages.

• Students are expected to be dressed in formal attire for the selection procedures.

MET Centre for Insurance Training, Research and Development

MET, one of India's leading B-Schools and the CII (Chartered Insurance Institute), London, a premier professional body for the global financial services profession, have come together to launch eMBA-Insurance - a programme that will sharpen students into global insurance professionals, equipped to meet any industry challenge.

The programme taps into the CII's wealth of insurance knowledge and rich experience, derived from its global presence. This, coupled with MET's experience of 2 decades in delivering professional education that meets international standards, will make this a much sought after career option.

With a growth rate of 15-20%, the Indian Insurance Industry is poised for astronomical growth. The eMBA-Insurance programme will train professionals to add value to this industry, while capitalising on its amazing growth.

“Way back in 2005, MET recognised the need for highly skilled managerial professionals to service the rapidly growing insurance industry. With inputs from the best minds in the industry, we devised and launched a post graduate level programme in insurance and successfully placed our students in reputed companies in India and the international market, too. Today, the world has recognised the potential of Indian professional talent. Keeping this in mind, we thought the time was right to take professional education in the insurance category to the next level, by giving students the double advantage: Business acumen and strategic skills from our eMBA programme and world class technical inputs from the CII, London. The strategic tie up with the CII, London, will give our students the international edge and enable them to get enviable placement opportunities anywhere in the world,” says Mr. Chhagan Bhujbal, Chairman - MET.

The double edge
The programme for both, General and Life Insurance students, will entitle the students for a joint certification in e-empowered Management and Business Administration, with exclusive specialisation in the Insurance sector. They will also get training in London, which will give them exposure to the international market.
The management and business module for the eMBA-Insurance programme has been developed by MET, whereas the technical contents have been designed by the CII, London. Together, these leading educational bodies will deliver an unrivalled specialised educational offering that blends technical, managerial and business skills.

The only world class programme of its kind in India
This is the first time that the CII, London, has entered into a collaboration of this kind outside the UK.

Designed to meet impeccable international standards, completion of the eMBA-Insurance programme will also result in the awarding of the 'Advanced Diploma in Insurance' by the CII, London. This will confer on students the globally recognised designation 'ACII' and the prestigious 'Chartered' status. Besides, students joining this programme will also be automatically enrolled for the first year as members of the CII, giving them access to a range of global services to propel them in their career.

Without a doubt, the insurance industry is eagerly awaiting the first global professionals from India to take it to greater heights.