National Insurance Academy

National Insurance Academy Pune

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Type	Public Education and Research Institution
Established	1980
Director	Mr. Sushobhan Sarker
Postgraduates	150-PGDM
Location	Pune , Maharashtra , India
Campus	32 acres (0.13 km2)
Affiliations	Government of India
Website	[1]

National Insurance Academy (NIA) is a premier institution devoted to equip the insurance industry with the best of talents. Its close association with the Insurance industry provides the 'real life' reference to its training, education, research and consultancy activities. NIA was established in 1980 jointly by the Ministry of Finance (India), Life Insurance Corporation of India, General Insurance Corporation of India, The New India Assurance Company, National Insurance Company, United India Insurance Company and The Oriental Insurance Company on 16 December 1980 in Mumbai to be the institute of excellence in learning and research in Insurance, Pension and allied areas. The Academy was shifted to Pune on 4 June 1990 with the state-of-the-art facilities for learning and research. Initial years of NIA were dedicated to Management Development Programmes catering to the insurance industry professionals to enhance the management skills and domain expertise. Later, the two year Post Graduate Diploma in Management course was initiated to fulfill the growing demand of skilled professionals in Insurance and Risk Management. The programme offers dual expertise in management and Insurance.

The Academy has a sprawling (approximately 32 acres) campus housing the administrative, academic, hostel and residential facilities amidst lush greenery. The campus is self sufficient with a Bank, Post Office, Dispensary, Sports, Gymnasium and Swimming Pool facilities. Currently Mr.Sushobhan Sarker, Former Managing Director, Life Insurance Corporation of India is the Director of National Insurance Academy. By rotation Mr G. Srinivasan (New India Assurance CMD) has become the Chairman of NIA Governing Board, mostly the academy is controlled by LIC, GIC & public sector insurance companies like National Insurance Company Ltd, Oriental Insurance Company Ltd, New India Assurance Company Limited, United India Insurance Company Limited and who are responsible for all major revenue-generating operations of the academy. A main source of income of the academy is arranged by IRDA in the form of Broker's training and examination programs. Also the MDP programme for top executives of insurance companies are a major contributor to funds generated by NIA.

Evolution of NIA

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Academic Block of NIASoM.

NIA was functioning from Mumbai until 1990 and moved to its beautiful campus at Pune in the early 1990s. The academy is now an integrated management school with training, education, publications, research, consultancy and regulatory advisory services. Life Insurance, General Insurance, Reinsurance, Health Insurance, Crop Insurance, Credit Insurance, Pensions, Actuarial Services, Insurance Investment, Market research for insurance companies,developing insurance institutions and leadership for succession planning and Insurance regulatory compliance are the fields covered by the academy. The earlier Director (Late Dr. PS Palande - Retd Commissioner of Pune) had already positioned NIA on the international map. Later Kailash Chandra Mishra took over as the Director of the academy from 1999 and spearheaded the academy till August 2009.

Conceptual innovations

The academy has developed 7A framework for the organizational structure of insurance, 7P framework for the underwriting structure of insurance and 7E framework for the value structure of insurance.

Institutional expansion

Apart from the mother institution NIA, the academy houses an MBA program NIASoM, a producer development program (NIASPD), a pension research program (NIAPRI). NIA is also the statutory examining body for insurance brokers in India as per IRDA Regulation. The Academy is home for historically famous Lloyd's Box symbolic of a Syndicate at old Lloyd's of London.

History of Lloyd's Box

Lloyd's Box is essentially a set of historical Lloyd's Tables. The Lloyd's Box at National Insurance Academy was Michael Payne's box syndicate number 386. Michael Payne was a specialist Non-US liability underwriter at Lloyds. It was installed in the old Lloyds - it was unique as it was the only non-square underwriting desk in Lloyds.

While adorning 1952 Lloyd's building it was acquired in 1970 and the esteemed box became a feature of the underwriting room at Lloyds Gallery level in the early 1970s. When Lloyds moved to their new building in approximately 1987, it was purchased by Robert Porter the then Managing Director of E W Payne and installed in E W Payne's boardroom at 8 Bridge Street Sydney.

Significantly Rob Porter had brokered many pieces of Australian Liability business at that desk in the late 1970s and early 1980s; when relocated to Bridge street many good lunches were enjoyed by the mighty and powerful in insurance at it in the EW Payne board room.

"When removed from the 1952 Lloyds building the removal was overseen by the head waiter at the time who was delighted to know that it would continue service in Australia".

Rob Porter purchased the table by means of an offset brokerage deal between the QBE - E W Payne & Syndicate 386. The nominal value placed on it was AUD 25,000.

In 2006, this historical Lloyd's Box was presented to the then Director of National Insurance Academy (Dr K C Mishra) as Guru Dakshina (a teacher's dues) by the then Principal Officer of Marsh (Mr Sanjay Kedia), who is now its country head and MD. It was originally housed in National Insurance Academy Museum at Greenleaf Dome, named after the former AT&T Chairman, who popularized the concept of "Servant Leadership". Later on this monumental table was shifted to a special room named after Mr B K Shah, one of the three legendary Indians, who ever entered into Insurance Hall of Fame at Ohio, USA. The other two being Sir Joseph Arnould and Mr G S Diwan in whose names also NIA has dedicated academic spaces like a lounge and Alumnia room respectively.

NIA School of Management

NIASoM is the Management School of National Insurance Academy in Pune,India.

Placements

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NIASoM

For the placement of 2013-15 batch, the companies who visited NIA SoM for placements are Qatar Insurance Company, Star-Union Dai Ichi Life Insurance, HDFC Life, Accenture Financial Services, SBI Life, Bajaj Alliance General & Life Insurance Companies, AON Global, Marsh India Insurance Brokers, Cognizant Business Consulting, Swiss Re, IBM, Wipro Technologies, Reliance General & Life Insurance, Reliance Industries, Royal Sundaram, TATA-AIG General & Life, IndusInd Bank, Unit Trust of India Mutual Funds, Birla Sun Life Insurance, Kotak Life Insurance,IDBI Federal Life Insurance, Mastek Limited, Max Newyork Life, Universal Sompo, GMR Group, HUL, Alliance Insurance Brokers, HCL Technologies, Tata CMC, ICICI Prudential, ICICI Lombard, Future Generali, HP, Aon, KM Dastur, Aegon Religare, Syntel, IBM,HDFC Ergo, Indiafirst Life Insurance, MetLife, ING Vysya, First Apex Technologies, Milliman Inc., L&T General Insurance, Raheja QBE, C2L Biz Solutions Private Limited, etc. All the students got placed with reputed organizations and average package for the batch stood at 7 lpa.

NAAC accreditation

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The NIA Tower.

On 22 December 2007, National Assessment and Accreditation Council, an autonomous body of University Grants Commission (UGC), which is under the Ministry of HRD, Government of India assigned highest rating grade "A" for National Insurance Academy as an academic institution. As per results of accreditation cleared in 43rd Executive Committee Meeting held on 22 December 2007, National Insurance Academy has received the highest accreditation rating of NAAC which is "Grade A within cumulative grade point average range of 3.01 to 4 read as Very Good and Accredited" which is amplified as "high level of academic accomplishment as accepted of an institution" with the Academy securing 3.43 Cumulative Grade Point Average (CGPA).

Institutional environment

National Insurance Academy (NIA), is located in Pune. It was established in the year 1980 under the aegis of Ministry of Finance Government of India, LIC, GIC and the four public sector insurance companies. NIA is the jewel crafted by this one of a kind private public venture, and has been running executive development programs for the past 25 years. Recently, National Insurance Academy School of Management(NIASoM) has undergone thorough management and syllabus restructuring following international standards under the supervision of Dr. Prathap Oburai, the Director of NIA. The institute has also revamped its assessment structure from a percentage based to a CGPA based grading system.

Research

At research level NIASOM has established several instrumentalities. A journal "PRAVARTAK" is a research publication running in parallel to BIMAQUEST published by the parent institution National Insurance Academy. Dnyanajyoti Research Series (DJRS) is a research serial, which publishes occasional papers dealing with insurance and risk management. "Utkarsh" is another student publication focussing on learning issues, which students want to highlight in their own way. The PhD program revolves around Management, Insurance, Risk Management, Information Technology and Economics.

The academy conducts a nomination process to select a "C. D. Deshmukh Fellow" every year based on the excellence of past research recognized both by academia and insurance industry. Similarly for student researchers creating excellence in developing insurance laboratory project, an endowment is established by a former chairman of Life Insurance Company in early eighties known as the "A S Gupta" endowment.

In 2006, in recognition of its dedication for development of insurance laboratory, a historical Lloyd's Box was presented to the academy's director Dr K C Mishra by Marsh Brokers, which is now housed in the academy's Incubation Centre.

External links

• NIAPUNE