ICICI Prudential Life Insurance in partnership with Institute of Insurance and Risk Management (IIRM) announced the graduation of its second batch for the full time Executive Program in Insurance and Risk Management (EPIRM) program, today. EPIRM a joint initiative between ICICI Prudential Life and IIRM, is the first of its kind program in India, to offer professional training in specialised subjects such as underwriting, claims and risk management. Mr. J Hari Narayan, Chairman, Insurance Regulatory Development Authority, was the Chief Guest for the occasion and he felicitated the top rankers of the second batch.
Speaking on the occasion, Mr. V.Vaidyanathan, Managing Director & CEO, ICICI Prudential Life Insurance said, "The foundation of any industry rests on its people and today, the need of the hour, in the life insurance industry, is for trained and specialised manpower. As one of the leading life insurance players, ICICI Prudential Life recognises the need to bridge the gap between the demand and availability of skilled professionals. The company’s partnership with IIRM, one of the most prestigious institutes for specialised training in insurance, was a significant step in the direction.“
He further added, “Through our partnership with IIRM, we successfully leveraged their academic edge in specialised functions of life insurance and combined it with the company’s expertise in the field. Today, as the second batch graduates, I would like to congratulate them and urge them to take larger roles in specialized corporate functions.”
Mr. Vepa Kamesam, Managing Director, IIRM said, “As a leading institute in insurance and risk management we design courses to cater to the ever increasing learning and developmental needs of the industry. Our partnership with ICICI Prudential Life to launch the first of its kind program in insurance and risk management, had been specially tailored to suit industry requirements. As the second batch of EPIRM programme graduates, I would like to wish them success in their future endeavour and urge them to take on challenges from the very first day at work.”
Executive Program in Insurance and Risk Management
In order to bring in the industry perspective in a classroom environment the course curricula had been developed together by ICICI Prudential Life and IIRM. The Executive Program in Insurance & Management is the first of its kind program in India to offer intensive training in underwriting, claims and risk management. The executive program is a two semester course, which includes both classroom training and internship with ICICI Prudential Life Insurance. On successful completion of the program, the students are placed in the various specialised corporate functions of ICICI Prudential Life Insurance.
Interested candidates had to undergo a selection process where they had to clear an aptitude test followed by a group discussion and a personal interview. The course fee for the one year Executive Program in Insurance and Risk Management is Rs. 1.35 lakhs, only, as at present.
Further, ICICI Prudential Life has been taking the lead in partnering with reputed management institutes across India to build a strong resource pool of insurance professionals. In July 2007, the company launched the Post Graduate Program in Management and Insurance (PGPMI) along with 20 leading business schools, across the country. This exclusive program is the first of its kind in India that focuses on both management and insurance specific subjects and ensures a job for each student on the successful completion of the program.
About ICICI Prudential Life Insurance
ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank and Prudential plc. It was one of the first players to commence operations when the insurance industry was opened to the private sector in 2000. For the half year ended September 30, 2009, the company garnered Rs 6,479 crores of total premiums and has underwritten over 10 million policies since inception. The company has a network of 2,021 offices and over 228,000 advisors. For the past eight years, ICICI Prudential has maintained its dominant position amongst life insurers in the country, with a wide range of flexible products that meet the needs of the Indian customer at every step in life.
To know more about the company, please visit www.iciciprulife.com
About Institute of Insurance and Risk Management
The Institute of Insurance and Risk Management (IIRM) is an international education and research organization. The institute was set up jointly by the Insurance Regulatory and Development Authority (IRDA) of India and the State Government of Andhra Pradesh, in 2002. IIRM aims to serve the learning and developmental needs of emerging markets in the context of their contemporary challenges in insurance sector, especially in the areas of insurance, risk management, actuarial science, financial planning, pensions and other related disciplines in emerging markets. IIRM conducts research programs that are directly related to the above disciplines and also provides consultancy and advisory services.
IIRM receives international support from many academia. IIRM enjoys the support of illustrious academicians and industry leaders. www.iirmworld.org.in
Except for the historical information contained herein, statements in this release which contain words or phrases such as “will”, “would”, “aim”, “will likely result”, “believe”, ”expect”, “will continue”, “anticipate”, ‘”estimate”, “intend”, “plan”, “contemplate”, “seek to”, “future”, “objectives”, “goals”, “project”, “should”, “will pursue”, and similar expressions or variations of such expressions may constitute “forward looking statements”. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to ICICI Prudential’s ability to successfully implement its strategy in the field of insurance, our growth and expansion, technological changes, investment income, cash flow projections, our exposure to market risks as well as the other risks detailed in the reports filed by ICICI Bank (joint promoters of ICICI-Prudential Life Insurance Company Limited) with the Securities and Exchange Commission of the United States. ICICI Bank undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.