The National Insurance Academy was initially established in Mumbai in 1980 by the public sector insurance companies - the General Insurance Corporation of India, the New India Assurance Company, the Oriental Insurance Company, The National Insurance Company, The United India Insurance Company and the Life Insurance Corporation of India on the initiative of the Ministry of Finance, Government of India.
The purpose was to provide the executives of insurance companies in India the technical skills required to meeting the growing demand of the need for all lines of insurance.
The Academy moved to the lush green, sprawling 32 acres campus in Balewadi, Pune in 1990.
Post Graduate Diploma in Management (PGDM)
The opening of the insurance industry to private and international insurance companies in the year 2000 saw the demand for technically qualified executives with rich domain knowledge. This led to the starting of the Post Graduate Diploma in Management course in 2010 with the recognition of the AICTE with an intake of 120 students.
The PGDM program has been accredited by the National Board of Accreditation (NBA). The program has also been recognized as equivalence to MBA course by the Association of the Indian Universities (AIU).
The PGDM program conducted by the Academy is a unique program that combines the management subjects with the understanding of the domain knowledge of the different lines of insurance business. The curriculum combines conceptual inputs with industry practices very well and makes the students industry ready from day one.
This gives the students greater employment opportunities in leadership positions in insurance, technology and other BFSI companies. It also provides them great entrepreneurial opportunities in various areas including startup ecosystem. The curriculum of the course also provides the students the ability to successfully qualify in the examinations of the Insurance Institute of India (III), Chartered Insurance Institute (CII), UK, the actuarial papers of the Institute of Actuaries, India and the American Institute for Chartered Property and Casualty Underwriters (AICPU).
Industry interface
The Academy attracts large number of insurance professionals from the public and private sector insurance companies in India and also from overseas insurance companies. The presence of these executives who are rich in domain knowledge and many years of working experience gives an unparalleled opportunity to the PGDM students to interact with them.
Placements
The Academy has close links with the insurance and allied industries in India and abroad. In spite of the disruptions caused by the pandemic the Academy could meet the demands of the insurance companies and the insurance domain knowledge related companies. The students of 2020-22 batch saw 100% placements, like in all earlier years, notwithstanding the disruptions. The placement offers for the batch saw a highest CTC of Rs 29.50 lakh.
The alumni of NIA have not only won acclaim in India, but also abroad, for their leadership acumen and their resilience to withstand all disruptions and move rapidly in the corporate ladder.
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( With inputs from ANI )
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