Certificate Courses - IRCC and CIAFP

A) Certificate course in Foundations of Casualty Actuarial Science: This course and examination is available in India only.

The certificate course titled "Foundations of Casualty Actuarial Science" is for the benefit of persons interested in the field of General Insurance Actuarial Science.
The course comprises following subjects:

This course is an attempt to create sufficient technical knowledge of General Insurance Actuarial Techniques for scientific determination of premium rates.

Candidate passed Licentiate in Non-life branch i.e. Subject No. 01, 11 and any other optional subject of 20/30/40 Credit Points is eligible for Certificate course in Foundations of Casualty Actuarial Science.

A strong Mathematical background and rigorous study of the subject matter is necessary for passing the Actuarial examinations successfully.

Candidates passed subjects A-1 and A-2 at Certificate course on Foundations of Actuarial Science qualification level will get credit points updated while appearing Fellowship Examination in Subject No. 47 and 84 respectively only after passing Associate Examination. Similarly, candidates passed Subjects 47 and 84 at Fellowship level will get credit in subjects A-1 and A-2 while appearing for Actuarial diploma course.

B) Certificate Course in Compliance, Governance and Risk Management in Insurance

Any candidate who is Associate/ Fellow Members of Institute of Companies Secretaries of India or Associate/Fellow Members of Insurance Institute of India is eligible to enroll for the course.
The course consists of 2 parts.

PART 1 (Online exam of 3 papers)

PART 2 (Training):-3 days class room training

Registration fees is Rs. 700/- and Examination Fee per subject is Rs.1,000/- (without learning material). Classroom training fees is Rs.15,000/- for residential candidate & 10,800/- for non-residential candidate.
Registration is essential for fresher. If a candidate is already registered for professional examination registration fees is not required.
The examination will be conducted in online mode only (twice a year i.e. June & December) and passing marks will be 60%.

p> C) Certified Insurance Anti-Fraud Professional (CIAFP)

This course is jointly offered by Insurance institute of India and North American Training Group (NATG). Members of III who have qualified in their Licentiate examination can enroll for the CIAFP course. Enrollment facility is available online, at III's website under the tab ‘Exam Registration' as "Online Course – Certified Insurance Anti-Fraud Professional (CIAFP)".

Course Structure: Duration of the course is 1 Year from the date of enrollment (Part 1 & Part 2).

Part 1: Course Content: The course is delivered on the e-learning / Training mode through 15 online modules (out of 15 modules 8 modules are under revision) with assessment after every module. The access for online modules will be available for 6 months from the date of enrollment.
The candidate must score minimum 70% marks to go ahead from one module to the next module of e-learning / Training.

Part 2: Training: Three days of Classroom training is mandatory for course completion.

Part 3: Annual Refresher – Continuing education of 3 hours every year is required after completing CIAFP to maintain certification.

Fees:

• Online Course enrollment fees: INR Rs.4900/-*.
• Classroom training fee: Residential Rs.15,000/-*(Rs.5,000 X 3 days), Non Residential Rs.10,800/-* (Rs.3600 X 3 days)
• Annual Refresher – INR 200/-* per year.

*plus applicable taxes (Fees are linked to exchange rates and may be revised in April every year).

Award of Certificate/Administration:

• The course will be administered by Insurance Institute of India
• Certificate will be issued jointly by III & NATG after successful completion of both parts, viz. (i) Online e-learning and (ii) Training and Classroom Training.