B.Com. (Banking and Insurance) Insurance Broking and Advisory Syllabus - Mumbai University
This is the FY BBI syllabus under NEP 2020, in force from the academic year 2024-25. The University still sets the earlier Choice Based papers alongside it for ATKT candidates, so check which scheme your exam form names before you revise.
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Syllabus for Insurance Broking and Advisory
Module I: Insurance Brokerage Essentials: Understanding Policies, Ethics, and Regulations
- • Definition and importance of insurance, Life insurance vs. general insurance, Different types of insurance policies (term, whole life, health, property, etc.) • Functions of Direct / Composite / Reinsurance Brokers. • Registration and Licensing of Brokers: eligibility and qualifications of person, manpower and infrastructure requirements. • Requirement of Capital for Direct broker/Composite Broker / Reinsurance Broker a. Forms of capital to be brought in Equity /Assets/Cash • Code of Conduct or Professional Ethics. • Remunerations of Brokers in various lines of Insurance Business: General Insurance, Life Insurance, Pension, Annuity, Group Insurance, etc. • Professional Indemnity Insurance for Brokers
Module II: Brokerage Client Management and Insurance Advisory Practices
- • Responsibility of Broker to the insured - Understanding of client’s requirement – nature of business and Risk Management of client, Preparation of Insurance Slip, Premium Collection, assistance in claims and preparation of claim documentation. • Responsibility of Brokers to the Insurance Company in Selection of Risks, Presentation of Products, Remittance of Premium, assistance in Claim Settlement and Consumer Grievances. • Insurance Advisory Process - Client needs analysis and risk assessment, Product selection and recommendation
References
- Insurance Broking Practice and Procedures" by Dr. M. N. Mishra (Publisher: Taxmann Publications Pvt. Ltd.)
- Principles and Practice of Insurance Broking" by Sunita Sharma and Lallan Prasad (Publisher: Sultan Chand & Sons)
- Insurance Broking in India: Challenges and Opportunities" by Dr. K. C. Mishra and Dr. J. K. Pandey (Publisher: New Century Publications)
- Insurance Broking in India: Regulations, Processes, and Practices" by Raj Kumar (Publisher: Bharat Law House Pvt. Ltd.) B.Com. (Banking & Insurance) As Per NEP with effect from the Academic Year 2024-2025
Reproduced from the University of Mumbai syllabus for B.Com. (Banking & Insurance) under NEP 2020, in force from the academic year 2024-25. Wording is as printed in that syllabus. Module numbering is as printed there too.
The complete syllabus
This subject is cut from the University circular for its year. Open a document here if you want the whole thing rather than a single subject.