The Insurance Institute of India is an insurance

Insurance

In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...

 education society of professionals established in 1955 in Mumbai

Mumbai

Mumbai , formerly known as Bombay in English, is the capital of the Indian state of Maharashtra. It is the most populous city in India, and the fourth most populous city in the world, with a total metropolitan area population of approximately 20.5 million...

 for the purpose of imparting insurance education to persons engaged or interested in insurance. The institute conducts examinations at various levels. It is the professional institute in India devoted solely to insurance-related education.

Certificates and Diplomas are awarded by the institute to successful candidates.
These are recognised by the Government of India

Government of India

The Government of India, officially known as the Union Government, and also known as the Central Government, was established by the Constitution of India, and is the governing authority of the union of 28 states and seven union territories, collectively called the Republic of India...

, the Insurance Regulatory and Development Authority (IRDA

Insurance Regulatory and Development Authority

The Insurance Regulatory and Development Authority is a national agency of the Government of India, based in Hyderabad. It was formed by an act of Indian Parliament known as IRDA Act 1999, which was amended in 2002 to incorporate some emerging requirements...

) and insurers in India and abroad. These qualifications are recognised by similar institutes in the UK, Canada

Canada

Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...

 and the USA, for grant of exemption from some of their papers. The Sri Lanka Insurance Institute and the Royal Insurance Corporation of Bhutan are also affiliated to the institute.

Applicants can specialise in life insurance

Life insurance

Life insurance is a contract between an insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger...

 or general insurance/non-life branch. Examinations are held for several awards:

1. Certificate in insurance salesmanship (CIS)
2. Licenciate, Associate
   Associate's degree
   An associate degree is an undergraduate academic degree awarded by community colleges, junior colleges, technical colleges, and bachelor's degree-granting colleges and universities upon completion of a course of study usually lasting two years...
   
   , Fellowship.

External links

• Insurance Institute of India Official websiteforum for agents & brokers