Advance Diploma in Insurance and Risk Management

The Guru Nanak Dev University's Faculty of Economics and Business offers Advance Diploma in Insurance and Risk Management course to its students. The course structure for it is as follows:

Part-I
Basic Concept of Liability Insurance : a) Basic concepts – Specific and all risk insurance, valuation of risk, indemnity contracts and specific value contracts, average and contribution, excess and short insurance careers, b) Liability insurance-procedures for obtaining liability insurance, legal position of insurance agent, construction and issue of policy, records of liability insurance, policy conditions.

Types of Liability Insurance Policy : Dwelling losses, business interruption and related loses, theft insurance contract, budgetary covers, auto insurance, medical benefit insurance, dishonesty, disappearance and destruction insurance, personal and residential insurance, boiler machinery insurance, commercial enterprises and industrial property insurance.
Privatisation of Insurance Industry.
Prospectus of Insurance.

Privatisation of Insurance sector in India IRDA: Role, Functions & Programs, Management of Insurance companies
• Functions and organistation of Insurances..
• Product Design & Development.
• Underwriting .
• Claims Management.
• Insurance Pricing.
• Insurance Marketing.
• Insurance Intermediaries.
• Financial Management in Insurance Companies.

Part-II
Introduction to Computers : Basic concepts, Functional Units and their interrelationships, Milestones in Hardware and Software, Application of computers in corporate environment, financial accounting, sales (retail and wholesale), shipping and receiving, manufacturing, purchasing, marketing, personnel and human resource development. Input and output devices. Data storage devices. Operating systems and its functions, multiuser, multiprogramming, multitasking.

Application of Computers in the functional areas of insurance sector.
MS-Word : Overview, creating, saving, opening files, formatting pages, printing of documents ; Introduction to MS-Excel, PowerPoint.
Structure, Powers and Functions of LIC & GIC, Deposit Insurance and Credit Guarantee corporation and claims tribunal. Insurance Surveyorship ; Appointment, Legal Provisions, Licensing & Functions.

Internet : About internet and its working, Business use of internet, Services offered by internet, E-mail, Search engines.
Understand Risk: Concepts, Types.

Risk Management & contest: Meaning, Process, objectives, Risk financing, Risk Relation, Risk Management Information systems, Risk Management by Individuals & corporation mitigating risk via insurance management.