Insurance sector is one of the major sector which are termed as rising stars in Indian economy. According to market research, heath insurance in India is around 30% whereas it is 90% in United States of America. There is scope of lot of jobs in government as well as private sector in insurance industry. In this article, we will covered top government jobs in insurance industry. We will share key differences in roles and salaries, how to qualify for these and how to prepare in this article.
Top government jobs in insurance sector
LIC DO
Life Insurance Corporation of India conducts the Development Officer exam annually in the month of September. The details regarding the exam are:
Job Profile
The DO is an officer who recruits LIC agents, provides them with training, meets customers regularly, handles customer queries related to their agents, provides service to customers and processes new policies.
Salary
For the first six months, the take home is around ₹24,000. Later, in the probation period, it increases to around ₹32,000. Further, based on the performance of the officer, the salary may range from ₹25,000 to ₹1,00,000.
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Exam Pattern
Stage 1: Written Exam
Stage 2: Group Discussion and Interview
Syllabus
Reasoning Ability: The test will be partly verbal and partly non verbal with common questions like word puzzles and diagrams.
Numerical Ability: The main purpose is to test the speed of mathematical calculations also featuring common math questions.
General Knowledge and Current Affairs: The questions are formulated to test the candidate’s knowledge on the current happenings in the society. Questions may range from any topic including physics, geography, history, etc.
English: This section covers the test of knowledge in English and questions are generally asked on vocabulary and other common topics.
LIC AAO
LIC Assistant Administrative Officer requires a minimum of 21 years of age and maximum age allowed is 30 years. A Bachelor’s degree is required as the minimum educational qualification. The other details of the exam are:
Job Profile
The job involves administrative work like forming new policies, managing claims, co-ordinating with other departments and performing specific work as the administrative officer.
Salary
The monthly salary is around ₹40,000 but take home may be approximately ₹30,000. The pay scale ranges between ₹17,000 to ₹30,000. The candidate is eligible for PF, medical benefits, loans, etc.
Exam Pattern
Stage 1: Prelims
Stage 2: Mains
Stage 3: Interview
Syllabus
Reasoning Ability: Tests candidate’s logical and reasoning skills.
Numerical Ability: Tests candidate’s skill in mathematical calculations.
English: Emphasizes on grammar, vocabulary and comprehension.
NIACL AO
The New India Assurance Company Ltd is an insurance company set up by Sir Dorabji Tata. The detail of the Administrative Officer exam is as below:
Job Profile
The job profile involves settlements of claims, underwriting, risk management and verification of proposals and claims.
Salary
Basic pay is at around ₹35,000. Emoluments total to around ₹50,000. Accommodations or lease are also provided by the company to the officers.
Exam Pattern
Phase 1: Prelims
Phase 2: Mains
Syllabus
Phase 1: English – 30 marks, Reasoning Ability – 35 marks and Quantitative Aptitude – 35 marks
Phase 2: Reasoning Ability – 50 marks, English – 50 marks, General Awareness – 50 marks and Numerical Ability – 50 marks.
OICL AO
The Oriental Insurance Corporation Ltd conducted the Administrative Officer exam in the month of October-November last year. The exam details are as follows:
Job Profile
The job profiles includes decision making, underwriting, claim settlements and risk management. The officer is also responsible for the delegation of work and team accountability.
Salary
The basic pay of an AO officer starts at ₹32,000 and the increment is at ₹1,600. After 14 increments, the basic pay raises to ₹55,000 and the increment raises to ₹1,750 until the salary reaches ₹62,000.
Exam Pattern
Stage 1: Prelims
Stage 2: Mains
Stage 3: Interview
Syllabus
Stage 1: English – 30 marks, Reasoning – 35 marks and Quantitative Aptitude – 35 marks.
Stage 2: Objective – 200 marks and descriptive – 30 marks.
NICL AO
The National Insurance Corporation Ltd conducts the AO exam every year. The exam details are given below:
Job Profile
Like any other administrative officer’s work requirements, NICL AOs are also required to take decisions, underwrite, manage and assess risks and settle claims.
Salary
The salary for NICL AO is ₹51,000, The CTC is ₹6,50,000 per annum and the pay scale is ₹32,795.
Exam Pattern
Stage 1: Preliminary Exam
Stage 2: Main Exam
Syllabus
Stage 1: English – 30 marks, Reasoning – 35 marks and Math – 35 marks.
Stage 2: Reasoning – 40 marks, English – 40 marks, General Awareness – 40 marks, Computer Knowledge – 40 marks and Numerical Ability – 40 marks.
UIIC AO
The United India Insurance Company conducts the Administrative Officer exam every year. The minimum educational qualification required is a degree for both the specialist exam as well as the generalist exam. The details are below:
Job Profile
An AO devises schemes, inspects policies, interacts with clients, manages claims, communicates with other departments and executes tasks given. The tasks are specific to the department that the officer is posted in.
Salary
The basic pay is ₹32,795 per month. The scale of pay is ₹32,785-₹55,335. Allowances are granted to the officers. In a metro city, the allowance will be approximately ₹48,000.
Exam Pattern
Stage 1: Prelims
Stage 2: Mains
Syllabus
Stage 1: English – 30 marks, Reasoning – 35 marks and Math – 35 marks.
Stage 2: Reasoning – 40 marks, English – 40 marks, General Awareness – 40 marks, Computer Knowledge – 40 marks and Numerical Ability – 40 marks.
GIC AO
The General Insurance Corporation of India conduct the AO exam in June-July. The age limit is between 21-30 years and the minimum educational qualification required is a graduation. Hindi as a language is compulsory. The details are:
Job Profile
The AO job is common as other AOs in other insurance companies. Settling claims, underwriting, managing risks and assessing tasks are common.
Salary
The basic pay is around ₹32,795. The emoluments total to ₹49,500. Salary increments are rapid in the job.
Exam Pattern
Stage 1: Online Exam
Stage 2: Group Discussion/Interview
Syllabus
HOTS – 40 marks, Reasoning – 20 marks, English – 20 marks, General Awareness – 20 marks, Numerical Ability and Computer Literacy – 20 marks, Descriptive – 30 marks.
GIC AAO
The Assistant Administrative Officer exam’s minimum qualification is a graduation degree. The age limit ranges from 21-30 years but a relaxation is allowed depending on the candidate’s caste. The details are:
Job Profile
The job profile of assistant administrative officers involves managing claims and settlements, communicating with various clients, inspecting policies for errors, devising new schemes and strengthening old ones and co-ordinating with other departments for smooth functioning.
Salary
The pay scale is between ₹17,240 and ₹29,000. Monthly allowances are allowed. The compensation ranges between ₹30,000-₹35,000.
Exam Pattern
Stage 1: Written Exam
Stage 2: Interview
Syllabus
The syllabus includes test of reasoning, English language, general awareness and professional knowledge.
OICL AAO
The Assistant Administrative Officer exam also has common rules. The age limit must be between 21-30 years and the minimum qualification required is graduation. The details are:
Job Profile
The job profile involves managing claims and settlements, communicating with various clients, inspecting policies for errors, devising new schemes and strengthening old ones and co-ordinating with other departments for smooth functioning.
Salary
The pay scale is between ₹17,240 and ₹29,000. Monthly allowances are allowed. The compensation ranges between ₹30,000-₹35,000.
Exam Pattern
Stage 1: Preliminary
Stage 2: Mains
Stage 3: Interview
Syllabus
The syllabus comprises of numerical ability, reasoning, English and general knowledge.
LIC ADO
The Apprentice Development Officer prelims exam is to be conducted between 06 and 13 of July and mains is to be conducted on 10th of August of 2019. The details are:
Job Profile
Profile includes employing agents, providing training, analyzing performance, motivating them and assigning a target and maintaining it.
Salary
The pay scale is ₹21,865 – ₹24,545 and stipends of ₹34,503 is allowed to the officers. Other emoluments are also granted.
Exam Pattern
Stage 1: Prelims
Stage 2: Mains
Stage 3: Interview
Syllabus
Reasoning – 25 marks, numerical ability – 25 marks, Gk and Current Affairs – 25 marks, English – 25 marks and Insurance and Financial Marketing – 50 marks.
IRDAI
The Insurance Regulatory and Development Authority of India conducts an exam annually for the post of Assistant Manager. The details for the exam are as given below:
Job Profile
The job profile for an assistant manager involves interacting with existing and potential clients, formulating new schemes, inspecting policies, facilitating communication internally about policies and schemes and executing other tasks.
Salary
The starting basic pay for assistant managers in IRDAI is ₹28,150 per month. Initial monthly gross emoluments amount to ₹81,000. Other perks like DA and HRA are included.
Exam Pattern
Stage 1: Prelims
Stage 2: Mains
Syllabus
Stage 1: Reasoning – 40 marks, General Awareness – 40 marks, English – 40 marks and Quants – 40 marks.
Stage 2: Paper 1 – English, Paper 2 – Economic and Social Issues impacting Insurance and Paper 3 – Insurance and Management. Total 300 marks for the descriptive type.