PGDM (Insurance Business Management)

Overview

PGDM-IBM offers a two-year full-time residential Post Graduate Diploma in Management in Insurance Business Management. It is a 121 credit program. The PGDM Insurance Business Management (IBM) courses introduced in the year 2000, and it coincided with the opening up of the insurance industry for private competition. The avowed objective of the program of Insurance Business Management (IBM) of BIMTECH is to turn out Insurance Management Professionals who are industry-ready.

To achieve this objective, we offer cutting-edge curricula among the recently introduced changes are courses on, Insurtech, Insurance Analytics, Advanced Risk Management (including Enterprise Risk Management), and advanced Health Insurance. This is, of course, besides the conventional insurance subjects both in life, non-life, health, and reinsurance. The course is spread over six trimesters with a two-months summer internship assignment between the first and second year. Besides, students are taught the Elements of Actuarial Science, Marketing, Finance, CRM, OB & HR, and Personal Financial Planning (Wealth Management). Rounding off the personality traits of students is accomplished by focused training in soft skills, corporate visits, and industry-based projects.

The program runs a Joint Certification in Reinsurance with Swiss Re (GBS).

Chairperson

Pratik Priyadarshi

Chairperson

BIMTECH remains a preferred destination for talent acquisition by leading insurance companies, broking firms and IT companies working in the insurance domain. Alums of Insurance programs hold key positions in the industry and academia

Its distinctive features are its strategic partnership with Swiss-Re, academic accreditation with CII-UK, MoUs with leading global insurance education providers like LOMA-USA, IIBA (Canada), close liaison with organizations like FAIR, RMAI IRM & RIMS and most importantly, its research orientation.

Programme Highlights:

BIMTECH has a strategic partnership with Swiss Re for campus connects programs and other value-adding strategies. We also have Campus connect Programme with Xceedance & RMS Moody.
PGDM (Insurance Business) program has got credit for Prior Learning /Accreditation by the Insurance Institute of India (III), Mumbai. Our students are to clear just two mandatory papers to get Associateship level recognition from the Insurance Institute of India.
A similar kind of credit for prior learning recognition is also in place with Chartered Insurance Institute-UK. Our students get the eligibility of Diploma in Insurance status from CII-UK after completing the course, subject to having passed one mandatory “Insurance Law” course of CII-UK.
Academic partnership with India Affiliate of Risk Management (UK) - grants exemption from IRM’s Level-1 examination to all BIMTECH students and alumni members who have passed the BIMTECH course “RISK Management’ thereby providing direct access to IRM’s Level-2.
Academic partnership with The Institute-USA.
LIMRA/Life Office Management Association (LOMA), USA, is an educational partner and BIMTECH is an approved Third-Party Examination Centre for LOMA exams. Quite a few of the Life Insurance subjects taught at BIMTECH are based on the LOMA curriculum.
InsurTech-BIMTECH has been an academic partner of India Insurtech Association. This relationship facilitates interaction of the ‘Insurtech’ thought leaders with our students on regular basis.

The insurance management course has been accredited by the National Board of Accreditation (NBA) and has an MBA equivalence from the Association of Indian Universities (AIU).
Strategic tie-up with Swiss Re global services delivery, Bangalore.
Accreditation of the course from the chartered insurance institute (CII)-UK. There is a dual degree program provision for granting a diploma in insurance from CII-UK. We are also accredited by the Insurance Institute of India (III), Mumbai.
Life office management association (LOMA), USA, is Bimtech's educational partner, and BIMTECH is an approved centre for the LOMA examination.
A bouquet of 36 subjects, regular industry interface, industrial visits, guest lectures, short-term projects and live projects.
Institutional member of the Federation of Afro-Asian Insurers and Reinsurers (FAIR), certification course from IIBA-CANADA, corporate member-risk management association of India-RMAI.

To offer professional programmes on insurance and risk management practices based on sound knowledge and skills with an accepted code of professional ethics.
To work in close liaison with all the stakeholders, such as insurance companies, broking houses, risk management firms, banks, it companies, educational/professional institutes in india and abroad and the regulatory authorities for the benefit of the professionals in the areas of insurance and risk management.
To conduct and sponsor seminars, conferences, executive/management development programmes, research studies and consultancy to create and disseminate knowledge and update the practices prevailing in the global insurance market.

Program Educational Objectives(PEOs)

PEO1 : BIMTECH has been granted exemption from IRM's Level 1 examination in India, where all BIMTECH students and alums graduating BIMTECH course "Risk Management" under course code "INS-201" will get direct access to IRM's Level 2 qualification that will entitle them to an "IRM Cert" designation.
PEO2 : Students should be able to develop understanding of global business Dynamics and technology adoption.
PEO3 : To understand sustainable business practices with ethical values for conducting all professional activities.
PEO4 : Students should be able to develop entrepreneurial and Innovative mind set

Program Outcomes (POs)

PO01 : Apply knowledge of management theories and practices to solve business problems.
PO02 : Foster Analytical and critical thinking abilities for data-based decision making.
PO03 : Ability to develop Value based Leadership ability.
PO04 : Ability to understand, analyse and communicate global, economic, legal, and ethical aspects of business.
PO05 : Ability to lead themselves and others in the achievement of organizational goals, contributing effectively to a team environment.

Program Specific Outcomes (PSOs)

Core Courses

TRIMESTER I

Insurance Economics
Insurance Laws and Regulations
Principles of Insurance
Marketing Management
Effective Managerial Communication
Organizational Behaviour & Human Resource Management
Statistics for Business Analysis
Leadership Experience and Attitude Development-Lead

TRIMESTER II

Risk Management
Property-I (Fire & Consequential Loss)
Insurance Business and Accounting
Health Insurance
Elements of Actuarial Science
Products and Practice of Life Insurance
Applied Communication
Excel Workshop
Leadership Experience and Attitude Development-II

TRIMESTER III

Property-II (Construction & Engineering Insurance)
Insurance Analytics
Life Insurance Underwriting & Claims
Motor Insurance (Own Damage+TP)
Marketing Research
Quantitative Methods for Business Analytics
InsureTech (Emerging Technology)
Strategic Management
Summer Internship
Leadership Experience and Attitude Development-Lead (Crisis Management)

TRIMESTER IV

Liability Insurance
Advance Risk Management
Advanced Health Insurance
Marine Cargo & Hull Insurance
Reinsurance
Business Innovation in Insurance (Elective)
Catastrophe Risk Modelling (Elective)

TRIMESTER V

Employee Benefit
Basics of Entrepreneurship
Design Thinking in Insurance
Services Marketing & CRM
Climate Action and Sustainability

TRIMESTER VI

Responsible Business
Agriculture and Miscellanies Insurance

Strategic Tie-Ups and Alliances

1. Launch of "PG Plus" Program with CII-UK

BIMTECH launched a dual degree program named “Post Graduate Diploma Plus” for its PGDM-Insurance Business Course students in association with Charted Insurance Institute–UK on July 2 2015. CII-UK has been collaborating since 2010 in the form of accreditation of its PGDM-Insurance Business Management course. The new arrangement is a step to take the existing relationship to the next level. Under the new structure, the students completing the programme will achieve dual qualifications: A diploma in Insurance from CII and a Post Graduate Diploma in Insurance Business Management from BIMTECH. This tie-up endorses BIMTECH’s commitment to improving global professional standards & technical insurance knowledge.

2. MoU with Swiss Re

BIMTECH signed an MoU with Swiss Re’s Global Services Delivery Centre, Bangalore, for an exclusive Campus Connect tie-up in April 2015. The partnership aims to improve professional insurance education in the country and prepare insurance students for industry. Through this partnership, Swiss Re will bring in its unmatched global expertise in reassurance to BIMTECH, help in its curriculum build-up, and access to customized workshops and learning resources.

Swiss Re will get opportunities to tap talents from BIMTECH, a pioneer in insurance post-graduate education in India, on a priority basis. Besides, BIMTECH will collaborate with Swiss Re in academic projects, seminars, workshops, webinars, live projects, etc., to promote incredible professionalism in insurance education in India. Swiss Re will get representation in the Academic Council of BIMTECH’s Programme for Insurance Business Management, which will decide on the curriculum, campus connects, industry projects etc.

3. Tie up with The Institute of Risk Management (IRM), (UK) India Affiliate

On February 24th, 2021, the Birla Institute of Management Technology(BIMTECH) and The Institute of Risk Management (IRM), the UK, India chapter, signed an MOU to offer IRM qualifications for BIMTECH students and alums. The Institute of Risk Management (IRM) (Head Quartered in the UK) is the world’s leading professional body for Enterprise Risk Management qualifications, training, and research. IRM provides qualifications for Enterprise Risk Management, which is a much broader concept than financial or insurance risk.

BIMTECH has been granted exemption from IRM’s Level 1 examination in India, where all BIMTECH students and alums graduating BIMTECH course “Risk Management” under course code “INS-201” will get direct access to IRM’s Level 2 qualification that will entitle them to an “IRM Cert” designation.

Learning

BIMTECH gives high priority to inviting industry mentors to the campus for making business education more hands on and relevant. The class room guidance, with the combination of direction from tenured professors, external industry experts and project experience prepares a candidate on the fundamentals as well as industry practices simultaneously

Learning starts with the study group formation of the students for the duration of their stay on the campus. The formation of the group is self-done on the basis of the chemistry of social life, culture, academic background and work experience. The student committee is drawn from all parts of India and some foreign countries. They share ideas, thoughts, culture, and personal experience. This makes their stay enriching.

Pedagogy

Teaching methodology is a combination of lecture and case based method with high focus on self-learning and practice.
Each course comprises case studies, assignments, presentations, working exercises, quizzes and group discussions on current issues.
Simulation, Management Games, Role Play and other teaching techniques are used in the classroom for greater effectiveness.
Teaching of each subject is carried out as per a detailed course plan designed in accordance with the syllabus.
The evaluation is based on continuous internal assessment and an end-term examination.

Eligibility

On the date of applying, an applicant should be either:

Appearing in Final Year Graduation Examination (1st attempt) in Summer 2024.

Has a ‘pass’ result of Graduation i.e. no uncleared paper(s).

Selection Procedure

STEP I - Application

Procurement of Form: Application form (common for all the programmes) is available on our website www.bimtech.ac.in.
Filling up the application form
Application form Fee: Application form can be filled online followed by paying Rs. 2000/- through Credit/ Debit Card.

STEP II - Selection Process, Venue & Document Verification

Call for Personal Interview

The second stage is of Personal Interview (PI). To avoid possible overlapping of selection process with other B Schools and also to facilitate the early selection/offer of admission, we propose to have an early round (First Phase) of PI process after third week of December 2023 itself which would be well before the declaration of CAT/XAT results. Here we intend to invite majority of the applicants who apply on or before December 2nd, 2023 based on their profile as judged from:

Consistency and good past academic performance
Relevant work experience (if any) that brings value to the class room learning

STEP III - Result

Declaration of Final Selection List:

Final selection list is prepared taking into account the candiate’s :

Past academic performance
Entrance test scores (CAT/XAT/GMAT/CMAT/MAT)
Performance in Personal Interview and Extempore based on their respective weightages
Work Experience (if applicable)
Other parameters, wherever applicable, as per the weightages table

Final Selection List would be declared by last week of March 2024 (tentative)

STEP IV - Admission

Fee Submission:

The selected candidates are to deposit the first installment of tuition fee within the given time frame in the offer letter to ensure their admission, failing which the offer is passed on to the waitlisted candidates. The fee for boarding/lodging would be given separately at a later date.

Institute does not entertain any request for extension of the deadline for submission of fee.

Beginning of Session

Academic session of all the programmes is likely to start on June 2024 (tentative).

Admission categories

Admission Category	Seat Allocation	Eligibility Requirements
General	85%	Minimum 50% marks in Graduation Candidates appearing in Final Year Graduation Examination (1st attempt) in Summer 2024 can also apply. Such candidates must produce their final year result with a minimum of 50% marks in aggregate by October 31, 2024, failing which provisional admission will be automatically cancelled.
Economically & Socially Challenged Students (ESCS)	5%	SC/ST/OBC/EWS/Minority Class (Muslims, Sikhs, Christians, Buddhists, Zoroastrians/Parsis & Jains) Weightage of 5 points is given during merit calculation for ESCS candidates. 15% Concession to SC/ST and 7.5% Concession to OBC/Minority Communities in Hostel Accommodation Charges.
Corporate Sponsored/NRI/NRI Sponsored	10%	Criteria determined by respective category (Corporate Sponsored, NRI, NRI Sponsored).
Seat Reallocation	5% seats reserved for ESCS category will be opened for general category, if not filled by ESCS category.	NA

Eligibility for General Category

Minimum 50 percent marks in Graduation. Candidates appearing in Final Year Graduation Examination (1st attempt) in Summer 2024 can also apply. Such candidates will have to produce final year result of Graduation with min. 50% marks in aggregate on or before 31st October 2024 failing which their provisional admission will be automatically cancelled.

For admission to PGDM & PGDM (IB), an applicant must have a valid CAT 2023 or valid XAT 2024 or valid CMAT 2024 or valid GMAT 2022/2023-24 score.
For admission to PGDM (RM) & PGDM (IBM) an applicant must have valid CAT/MAT/XAT/GMAT/CMAT score.

Eligibility for Corporate Sponsored Category

Minimum 50 percent marks in Graduation. Candidates appearing in Final Year Graduation Examination (1st attempt) in Summer 2024 can also apply. Such candidates will have to produce final year result of Graduation with min. 50% marks in aggregate on or before 31st October 2024 failing which their provisional admission will be automatically cancelled.
For being eligible under Corporate Sponsored Category, the applicant will have to produce the following at the time of submission of first installment of tuition fee. (Tentatively in last week of March, 2024)

A sponsorship letter from the Company is required as per format prescribed by the Institute. (Download Annexure 1)
The sponsoring company must have annual turnover of Rs. 50 crore minimum as reflected in the latest financial statements available. (Audited copy of the balance sheet/ Profit & Loss Account of preceding financial year i.e. 2022-23). Self attested photocopy to be submitted, failing which first installment of tuition fee will not be accepted.

Eligibility for NRI Sponsored Category

Minimum 50 percent marks in Graduation. Candidates appearing in Final YearGraduation Examination (1st attempt) in Summer 2024 can also apply. Such candidates will have to produce final year result of Graduation with min. 50% marks in aggregate on or before 31st October 2024 failing which their provisional admission will be automatically cancelled.
Candidates will have to submit Sponsoring NRI’s sponsorship letter as per format prescribed by the Institute. (Download Annexure 2)
Passport copy and visa or evidence of NRI status all duly attested by a qualified notary or Indian mission/ consulate or Indian Chamber of commerce in the country of residence or by consulate/mission/ embassy of the concerned country in India is required.
Proof of income – minimum 50,000 USD per annum income of the sponsorer will also have to be produced.

Eligibility for NRI Category

Minimum 50 percent marks in Graduation. Candidates appearing in Final Year Graduation Examination (1st attempt) in Summer 2024 can also apply. Such candidates will have to produce final year result of Graduation with min. 50% marks in aggregate on or before 31st October 2024 failing which their provisional admission will be automatically cancelled.
Passport copy and visa or evidence of NRI status all duly attested by a qualified notary or Indian mission/consulate or Indian Chamber of commerce in the country of residence or by consulate/mission/embassy of the concerned country in India is required.

Eligibility for Supernumerary Seats

Minimum 50 percent marks in Graduation. Candidates appearing in Final Year Graduation Examination (1st attempt) in Summer 2024 can also apply. Such candidates will have to produce final year result of Graduation with min. 50% marks in aggregate on or before 31st October 2024 failing which their provisional admission will be automatically cancelled.
Candidates will have to submit a proof of their status as PIO/OCI/Foreign Nationals/SAARC Nationals/Children of Indian Workers in the Gulf Countries.
Admission under this category will be done on merit basis among applicants of Supernumerary category only.

ESCS Category (SC/ST/OBC/MC/EWS)

Minimum 50 percent marks in Graduation. Candidates appearing in Final Year Graduation Examination (1st attempt) in Summer 2024 can also apply. Such candidates will have to produce final year result of Graduation with min. 50% marks in aggregate on or before 31st October 2024 failing which their provisional admission will be automatically cancelled.
For admission to PGDM & PGDM (IB), an applicant must have a valid CAT 2023 or valid XAT 2024 or valid CMAT 2024 or valid GMAT 2022/2023-2024 score.
For admission to PGDM (RM) & PGDM (IBM) an applicant must have valid CAT/MAT/XAT/GMAT/CMAT score.

The candidate shall be required to submit any one of the following in support of his/ her claim for seats under ESCS Category :

For Minority Community certificate, candidate can submit any one of the following:
1. Self declaration as per Format I
2. Caste/Community certificate issued by registered Religious Authority
For admission under EWS Category, the family income of the applicant from all sources should not be more than Rs. 8,00,000/- p.a.

The candidate shall be required to submit any one of the following :

The applicant’s family should hold an income certificate issued by the SDM or any other officer authorized in this behalf by the Revenue department stating that the total income of the family is not more than Rs. 8,00,000/- p.a.
Income tax assessment order of most recent year which is issued to a person after filing ITR.

Important Instruction & Documents

Applicants should submit a self attested photocopy of each of the following documents at the time of submission of first installment of tuition fee.
Photocopies should mention application number.
Photocopies of both sides wherever required should be submitted.
Failure to submit required documents will result in rejection of offer.
Please click the relevant category as opted by you in your application form (Candidate Category Preference 1) to get the list of documents required

General

Mark-sheet of 10th std.
Mark-sheet of 12th std.
Mark-sheet of Graduation (All years/semesters for applicants who have completed Graduation). All mark-sheets till last exam in case of applicants appearing in final year examination (1st attempt) in summer 2023
Score card – CAT 2023/GMAT 2022/2023-24/XAT 2024/MAT (Sept/Dec 2023/Feb 2024)/CMAT 2024 (Whichever applicable as per the ‘Program Preferences’ opted in your application form
For applicants having work experience of minimum period of one year as on 31/01/2024
Work experience certificate(s)

Appointment letter of current/last employer and Pay slip of last drawn salary
For getting regional weightage, submission of valid proof of residence is must. The domicile certificate issued by a competent authority. Copy of passport/Aadhar etc. can be submitted as an additional document. (Applicable only to the candidates coming from other than UP & NCR Region)

Corporate Sponsored

Mark-sheet of 10th std.
Mark-sheet of 12th std.
Mark-sheet of Graduation (All years/semesters for applicants who have completed Graduation). All mark-sheets till last exam in case of applicants appearing in final year examination (1st attempt) in summer 2024.
For applicants having work experience of minimum period of one year as on 31/01/2024 :
Work experience certificate(s) OR
Appointment letter of current/last employer and Pay slip of last drawn salary
For getting regional weightage, submission of valid proof of residence is must. The domicile certificate issued by a competent authority. Copy of passport/Aadhar etc. can be submitted as an additional document. (Applicable only to the candidates coming from other than UP & NCR Region)
Sponsorship letter from the company as per format prescribed by the Institute. Download Annexure-1 for corporate sponsored category
Audited copy of the balance sheet/Profit & Loss Account of preceding financial year i.e. 2022-23 of sponsoring company.

NRI Sponsored

Mark-sheet of 10th std.
Mark-sheet of 12th std.
Mark-sheet of Graduation (All years/semesters for applicants who have completed Graduation). All mark-sheets till last exam in case of applicants appearing in final year examination (1st attempt) in summer 2024.
For applicants having work experience of minimum period of one year as on 31/01/2024 :
- Work experience certificate(s)
  OR
- Appointment letter of current/last employer and Pay slip of last drawn salary
For getting regional weightage, submission of valid proof of residence is must.
The domicile certificate issued by a competent authority. Copy of passport/Aadhar etc. can be submitted as an additional document. (Applicable only to the candidates coming from other than UP & NCR region)
Sponsoring NRI’s sponsorship letter as per format prescribed by the Institute. Download Annexure – 2 for NRI sponsored catagory
Passport copy and visa or evidence of NRI status all duly attested by a qualified notary or Indian mission/consulate or Indian Chamber of commerce in the country of residence or by consulate/mission/ embassy of the concerned country in India.
Proof of income–minimum 50,000 USD per annum income of the sponsorer

NRI

Mark-sheet of 10th std.
Mark-sheet of 12th std.
Mark-sheet of Graduation (All years/semesters for applicants who have completed Graduation). All mark-sheets till last exam in case of applicants appearing in final year examination (1st attempt) in summer 2024.
For applicants having work experience of minimum period of one year as on 31/01/2024 :
Work experience certificate(s)
OR
Appointment letter of current/last employer and Pay slip of last drawn salary
Passport copy and visa or evidence of NRI status all duly attested by qualified notary or Indian mission/consulate or Indian Chamber of Commerce in the country of residence or by consulate/mission/ embassy of the concerned country in India.

Supernumerary Seats

Mark-sheet of 10th std.
Mark-sheet of 12th std.
Mark-sheet of Graduation (All years/semesters for applicants who have completed Graduation). All mark-sheets till last exam in case of applicants appearing in final year examination (1st attempt) in summer 2024.
Proof of their status as PIO/OCI/Foreign Nationals (FN)- International/ SAARC Nationals/Children of Indian Workers in Gulf Countries

Rules and Regulations

The Institute reserves the right to alter the course content of the programmes, rules and regulations, teaching schedule, tuition fee payable, boarding and lodging fees and/or any other matter pertaining to its working. The Director’s decision will be deemed as final in all such matters.

If a student admitted to the Institute is found to have given any false information or suppressed some material information, his/her admission will be cancelled and fees will not be refunded to such candidate.
Cost of Application Fee once paid is non-refundable.
The total tuition fee for any programme under Merit and Supernumerary category may be paid in equal half yearly installments. The first such installment shall be paid before the start of the session. No extension of time limit will be granted for the same. For NRI, NRI sponsored and Corporate sponsored candidates, the fee is payable annually in advance.
The Institute does not take responsibility for delay in transit involved in receipt and delivery of any communication between the Institute and the applicant.
All disputes are subject to the legal jurisdiction of District Gautam Buddha Nagar, Uttar Pradesh, (India).
Those who are given provisional admission due to non-declaration of their graduation result are required to submit the marks sheet up to 31st October, 2024, failing which the candidate will cease to be a student of the Institute. In such case, security deposit alone will be refunded.
Students who are not able to secure 50% aggregate marks in their graduation exam after the admission is granted, will have to withdraw from the programme and no fee except general security deposit will be refunded.
A student should observe all the rules and regulations, framed from time to time by the Institute. Breach of any of these may render him/her liable for penalty under the rules and/or expulsion from the Institute.
All BIMTECH Programmes offered are compulsorily residential. Staying in the Institute’s hostel for the complete 2 years is mandatory and will not be changed under any circumstances.

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