Motor Insurance Course: Fees, Admission 2024, Entrance Exams, Career Scope, Top Colleges

Updated on Apr 3, 2024 07:16 IST
Pragati Singh

Pragati SinghSenior Executive - Content

While there isn't a widely recognized "Motor Insurance Course" in India, various educational paths can equip you with relevant knowledge for the motor insurance industry. The Insurance Institute of India (III) offers certificate and diploma programs (both online and offline) covering property and casualty insurance, which includes motor insurance

Moreover, some insurance companies provide certification courses specifically tailored to motor insurance products and processes. Pursuing a Bachelor's or Master's degree in Insurance, Risk Management, or Business Administration with a focus on insurance or financial services can also offer valuable insights. 

Eligibility criteria vary depending on the program, with entrance exams sometimes required for higher education courses. Top colleges offering undergraduate degrees include Mumbai University, Symbiosis School of Insurance, ICICI Manipal Academy, Amity School of Insurance and Banking, and Alagappa University. Practical experience through internships or entry-level positions in insurance companies is crucial for gaining practical skills. Networking with professionals in the motor insurance sector can also provide valuable insights into career opportunities. 

Remember, there's no one-size-fits-all approach to a career in motor insurance, so researching different educational options and gaining relevant experience is key to success in this field.

Motor Insurance Course Details: Highlights

There's no single prescribed path for Motor Insurance courses. Still, there are research options that focus on gaining relevant knowledge and experience. Take a quick look on the course highlights through the table mentioned below:

Particulars

Details

Course Levels

Diploma and Certificates

Eligibility

Class 10 or Class 12

Admission

Merit based 

Top Colleges

Symbiosis School for Online and Digital Learning and Insurance Institute of India (III)

Salary Range

INR 3 - 8 LPA

Top Recruiters

New India Assurance Company, Oriental Insurance Company, United India Insurance Company, The National Insurance Company, etc.

Job Positions

Motor Insurance Underwriter, Motor Insurance Surveyor, Motor Insurance Claims Adjuster, etc. 

Note- This information is sourced from the official website and may vary.

Motor Insurance Courses Relevant Information:

All About Banking, Finance and Insurance Sectors 

What is Motor Insurance Course?

There isn't one single "Motor Insurance Course" in India, but there are ways to gain relevant knowledge:

  • Focus: Build knowledge for a career in motor insurance underwriting, claims, sales, or customer service.
  • III Courses: Insurance Institute of India offers programs on property & casualty insurance (includes motor insurance).
  • Degrees: Bachelors/Masters in Insurance/Risk Management provide a broader insurance foundation.
  • Company Programs: Some insurance companies might have specific motor insurance certification programs.

These options equip you with knowledge for a motor insurance career, but practical experience is also valuable.

Motor Insurance Eligibility Criteria 

Eligibility criteria for Motor Insurance courses can differ based on the particular course or program you opt for. Moreover, certificate and diploma programs usually mandate a minimum qualification of passing the 10th or 12th standard exams.

Top Motor Insurance Entrance Exams

There is no requirement for entrance exams as such, but below mentioned are the general exams related to this field:

Exam

Exam Dates

Exam Schedule

CSEET 

January 06, 2024

CSEET 2024 Schedule

CUET 

15 May '24 - 31 May '24

CUET 2024 Schedule

CFA 

Level I:

  • February 19-25, 2024
  • May 15-21, 2024
  • August 20-26, 2024
  • November 13-19, 2024

Level II:

  • May 22-26, 2024
  • August 27-31, 2024
  • November 20-24, 2024

Level III:

  • February 15-18, 2024
  • August 16-19, 2024

CFA 2024 Schedule 

Christ University Entrance Test (CUET)

Feb '24 (Tentative)

Christ University Entrance Test (CUET) 2024 Schedule

NMIMS NPAT 

02 Jan '24 - 25 May '24

NMIMS NPAT 2024 Schedule

Note- This information is sourced from the official website of the institute/exam.

Motor Insurance Online Courses & Certifications

These courses are majorly available at certificate and diploma levels, either offline or online. Below are some of them:

Courses

Duration

MBA in Banking, Financial Services and Insurance

24 Months

Certificate in Automobile Insurance: Policy Services

24 Months

Note- This information is sourced from the official website/ counselling body and may vary.

Motor Insurance Syllabus 

Some subjects are commonly covered in insurance-related programs. This table provides an indicative structure for a motor insurance syllabus:

Subject

Description

Introduction to Insurance

Basic concepts of insurance, risk management, and different types of insurance (Life, Non-Life, etc.). 

Role of insurance companies, intermediaries, and regulators.

Motor Insurance Principles

Fundamentals of motor insurance, types of motor insurance policies (Third-party, Comprehensive, etc.) 

Policy inclusions and exclusions, coverage scope, and limitations.

Motor Vehicle Insurance Regulations

Legal framework governing motor vehicle insurance in India (Motor Vehicles Act, IRDAI regulations). 

Mandatory insurance requirements, third-party liability coverage, and add-on covers.

Motor Insurance Underwriting

Risk assessment principles in motor insurance. 

Factors affecting premium pricing (vehicle type, driver profile, driving history, etc.). 

Underwriting process, risk classification, and policy issuance.

Motor Insurance Claims Management

Types of claims in motor insurance (accidents, theft, etc.). Claim settlement procedures, documentation requirements, and surveyor role. 

Third-party claims and repudiation of claims.

Motor Insurance Reinsurance

Concept of reinsurance and its role in motor insurance. 

Types of reinsurance arrangements and their benefits.

(Optional) Motor Insurance Customer Service

Principles of excellent customer service in motor insurance. Handling customer inquiries, complaints, and renewals.

Motor Insurance Courses Relevant Information:

HDFC Life PG Program in Life Insurance

Motor Insurance Careers, Scope, Job Profiles, Salary, and Recruiters

Career progression within the motor insurance industry can lead to supervisory roles, branch management positions, or specialized areas like risk management or product development. Moreover, below mentioned are just some of the common motor insurance job profiles. Other positions might exist depending on the specific company and its structure. 

Job Title

Description

Average Annual Salary (INR)

Motor Insurance Underwriter

Analyzes insurance applications, assesses risks associated with vehicles and drivers, determines appropriate premiums, and decides on policy issuance.

4-7 LPA 

Motor Insurance Surveyor

Visits accident sites, assesses vehicle damage, investigates claims, and prepares reports for claim settlement purposes.

4-8 LPA

Motor Insurance Claims Adjuster

Evaluate insurance claims, negotiate settlements with claimants, and authorize claim payments based on policy terms and conditions.

4-8 LPA

Motor Insurance Sales Representative

Sells motor insurance policies to individuals and businesses, explains policy coverage, and addresses customer queries.

3-6 LPA

Motor Insurance Customer Service Representative

Assists customers with policy inquiries, renewals, changes, and claims processing. Provides excellent customer service and resolves customer issues.

3-5 LPA 

Note- The above salary has been taken from external sources, and hence may vary.

Motor Insurance Top Recruiters

The Motor Insurance industry in India is dominated by a mix of Public Sector Undertakings (PSUs) and private insurance companies. Here's a table outlining some of the Top Recruiters for Motor Insurance jobs in India:

Company Type

Companies

Public Sector Undertakings (PSUs)

  • New India Assurance Company 
  • Oriental Insurance Company 
  • United India Insurance Company 
  • The National Insurance Company

Private Sector Insurance Companies

  • ICICI Lombard General Insurance 
  • HDFC Ergo General Insurance 
  • Bajaj Allianz General Insurance 
  • Acko General Insurance 
  • Digit Insurance 
  • Bharti AXA General Insurance 
  • Liberty General Insurance

Standalone Motor Insurance Companies

  • Acko General Insurance 
  • Digit Insurance 
  • Raheja QBE General Insurance 
  • Royal Sundaram Motor Insurance

Motor Insurance Courses Relevant Information:

Insurance Planning Online Courses & Certifications

FAQs on Motor Insurance Courses

Q. What are the eligibility criteria for III programs related to Motor Insurance?

A. Eligibility criteria vary depending on the program. Typically, a minimum qualification of 10th or 12th standard pass is required.

Q. Are there any Bachelor's or Master's degrees related to Motor Insurance?

A. While there aren't specific degrees in motor insurance, Bachelor's/Master's degrees in Insurance or Risk Management provide a broader understanding of insurance principles, risk assessment, financial aspects, and legal frameworks relevant to motor insurance.

Q. What is the Insurance Institute of India (III)?

A. The III is a premier institute offering insurance education in India. They offer certificate and diploma programs relevant to motor insurance, such as property and casualty insurance.

Q. What subjects are typically covered in Motor Insurance-related programs?

A. Subjects might include:

Introduction to Insurance

Motor Insurance Principles

Motor Vehicle Insurance Regulations

Motor Insurance Underwriting

Motor Insurance Claims Management

(Optional) Motor Insurance Customer Service

Q. What can I expect to learn from a Motor Insurance courses?

A. You will gain theoretical knowledge about motor insurance products, underwriting guidelines, claims handling processes, and customer service principles in the context of motor insurance.

Q. Do I need a Motor Insurance Course to work in Motor Insurance?

A. No, a specific "Motor Insurance Course" isn't mandatory. However, educational programs and certifications can equip you with valuable knowledge for a career in this field.

Q. Do some insurance companies offer their own Motor Insurance courses?

A. Yes, some insurance companies might offer certification programs specifically focused on their company's motor insurance products, underwriting processes, and claims procedures.

Q. What are the career options in Motor Insurance?

A. Motor insurance offers diverse opportunities, including: 

Underwriting: Analyzing risks, setting premiums, and deciding on policy issuance.

Claims: Evaluating claims, negotiating settlements, and managing the claims settlement process.

Sales: Selling motor insurance policies to individuals and businesses.

Customer Service: Assisting customers with policy inquiries, renewals, and claims processing.

Popular Motor Insurance Colleges in India

Following are the most popular Motor Insurance Colleges in India. Learn more about these Motor Insurance colleges (Courses, Reviews, Answers & more) by downloading the Brochure.
1 Course
24.2 L
24 LPA
1.54 L - 4.28 L
2.4 - 4.1 LPA
Ranked #3 Private University in India. Placement with Fortune 500 Companies
4 Courses
540 - 27.5 K
8.62 LPA
3.2 L - 10 L
3.75 - 7.25 LPA

Banking, Finance & Insurance Applications open. Apply Now

2 Courses
2 L - 13.72 L
10.5 LPA
4 Courses
1.01 L - 14 L
9 - 11.59 LPA

Popular Private Motor Insurance Colleges in India

1 Course
1.5 L
4 LPA
8.6 L - 8.8 L
2.8 - 4.8 LPA

Banking, Finance & Insurance Applications open. Apply Now

7 Courses
1.5 L - 3.3 L
3.31 - 3.44 LPA

Banking, Finance & Insurance Applications open. Apply Now

1 Course
4.3
4.3
60 K - 2.4 L
3.36 LPA
5.87 L - 7.32 L
3.9

Banking, Finance & Insurance Applications open. Apply Now

Popular Exams

Following are the top exams for Motor Insurance. Students interested in pursuing a career on Motor Insurance, generally take these important exams.You can also download the exam guide to get more insights.

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URAT PG 2024 Document Submission for Admission

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