A Unique Program

The C-RIM Program offered by the ICFAI University, Tripura is a unique program covering the areas of risk and insurance, laws and regulations, underwriting, claims management, reinsurance, actuarial principles and practice and insurance strategy.

The C-RIM Program has been developed in the context of the present and future needs.

The core body of knowledge of the C-RIM Program includes current and evolving concepts, techniques and applications, and also providing the flavor of the frontiers of knowledge.

'C-RIM' and 'Certified Risk and Insurance Manager' are registered trademarks.

Objectives

The C-RIM Program is a postgraduate program with the following broad objectives :

  • To encourage aspiring students equip themselves with the latest tools and techniques in insurance.

  • To develop contemporary body of knowledge and skill-set and make them available for those seeking careers in insurance.

  • To provide interdisciplinary insights into risk management, laws and regulations, management and technology for developing holistic perspectives.

  • To deepen insights into practical applications of insurance in a dynamic business environment.

The Approach

The C-RIM Program follows the following distinctive but inter-related approaches:

  • Basic Knowledge aimed at improving students' understanding of certain fundamental phenomena and relationships underlying the changing world of insurance.

  • Tools and Techniques are required to equip students improve their analytical ability and power of integration and synthesis.

  • Application Areas linking the theoretical studies to the practical problems faced by insurance professionals.

  • Professional Ethics aimed at inculcating in the students an ethical approach in their insurance career and a sense of personal, corporate, and social responsibilities.

Focus Areas

The Program has four focus areas:

  • Laws and Regulations: The knowledge of insurance laws and IRDA guidelines is vital for the insurance professional. The program provides a detailed understanding of the insurance laws and also the Indian and global regulatory environment.

  • Underwriting: Sound underwriting principles are the lifeblood for the insurance business. Knowledgeable underwriting is the key to a profitable future for an insurance company. The program provides a thorough understanding of the two facets of underwriting i.e. selection and clarification.

  • Claims Management: Managing Claims is the integral part of Indian insurance business. The privatization of the insurance sector has raised the expectations from the insurance industry. The program imparts the necessary knowledge and skills required in performing the claims management function effectively in this changed environment.

  • Strategy and Governance in Insurance Companies: Innovative strategies have transformed the insurance industry with introduction of best practices in product development, operational efficiency, marketing capability, service focus and tech-savvy orientation. To ensure public confidence in the insurance industry, a transparent system of financial reporting based on sound actuarial principles and accounting standards is very important. The program assists in taking up strategic and leadership roles in the insurance sector.

For Whom

Graduates and Postgraduates. CFAs, CAs, CWAs and CSs are also encouraged to apply.

Eligibility

Graduates (from any discipline) are eligible to enroll into the C-RIM Program.

All applicants are enrolled under the flexible mode.

Duration

The C-RIM Program may be completed in a period of 24 months.

Medium of Instruction: English

Students who have pursued their degree program in non-English medium are advised to undergo proper preparatory courses in Business English so that they can cope with the C-RIM Program.

No Waivers

All students are required to appear for all examinations. There are no waivers.

Period of Validity of Enrollment

Students are required to complete the C-RIM Program (all the six groups) within a maximum period of seven years from the date of enrollment. Students who are unable to complete the program within the time-frame stipulated above, but are still keen on continuing in the program, are required to register de novo, by paying the requisite fee.

Program Structure

The C-RIM Program is divided into six groups. Each group consists of two subjects.

The students of the C-RIM Program are required to appear for the examinations for the six groups in a sequential manner.

Program Structure

Groups

Subjects

Groups A

  • Risk and Insurance

  • Insurance Law and Regulations

    •

Groups B
 (Any 2 subjects)

Two Electives in Life Insurance

  • Life Insurance & Group Insurance

  • Personal Financial Planning

(OR)

Two Electives in General Insurance

  • General Insurance-Personal and Commercial

  • Health Insurance

Groups C
 (Any 2 subjects)

Two Electives in Life Insurance

  • Actuarial Principles and Practice in Life Insurance

  • Life Insurance Underwriting and Claims Management

(OR)

Two Electives in General Insurance

  • Actuarial Principles and Practice in Non-life Insurance

  • General Insurance Underwriting and Claims Management

Groups D

  • Insurance Investments

  • Insurance Operations

    •

Groups E

  • Insurance Marketing

  • Reinsurance

    •

Groups F
 (Any 2 subjects)

Two Electives in Life Insurance

  • Business Strategy for Life Insurance Companies

  • Management of Life Insurance Companies

(OR)

Two Electives in General Insurance

  • Business Strategy for General Insurance Companies

  • Management of General Insurance Companies

Detailed curriculum will be provided to the enrolled students through the Students Regulations Book. (Examinations for each subject is for 100 marks and of 3 hours duration). Students can also visit www.iutripura.edu.in for more details.

360o Flexi-mode

The C-RIM Program is based on self-study and examinations, with 360o flexibility for students.

Study : The University provides a detailed study plan and prescribed books specially designed and meant for self-study.

Training Classes : Students may attend training classes on optional basis.

Examinations: The examinations serve to finally assess and certify the students' understanding of the subjects.