BBA (Insurance)

About Course

BBA Insurance or Bachelor of Business Administration in Insurance is a three-year bachelor's degree in banking for which the Sr. Secondary (10+2) with 50% of the grades with Commerce/Math as a subject in the Secondary/Sr. The level and communicative knowledge of the English language is preferred. The course consists of six semesters, with the first four semesters being common to all BBA courses and the last two focusing on specialist areas and topics related to insurance management.

BBA Insurance examines the fundamentals and concepts used and practiced in the field of insurance management. The Insurance course involves the study of fundamental management concepts with specialized training in subjects such as international insurance management, treasury operations, risk management, investment banking, projects, infrastructure, etc.

These graduates hold positions such as Administrative Officer (AO), Credit and Risk Manager, Assistant Controller, Audit Specialist, Personal Financial Advisor, Collection Agency, Credit Broker, Equity Analyst, Treasurer, etc.

Course Highlights

Check all the important details about BBA Insurance from the table given below:

Particular	Value
Course Name	BBA Insurance
Course Level	Undergraduate
Course Duration	3 years
Eligibility Criteria	10+2 from the recognized board.
Entrance Exams	Entrance exams like CAT, GMAT, CMAT, IPUCET, etc
Admission process	Entrance Exam + Group Discussion + Personal Interview (GD-PI)
Examination Type	Semester based
Age	No age limit
Average Annual Fees	INR 14,000-10,00,000
Average Annual Salary	INR 2,00,000-10,00,000
Top recruiters	HP, ICICI Bank, McKinsey & Company, Microsoft, Goldman Sachs, IBM Deloitte, Sony, etc
Job Profiles	Branch Manager, Human Resource Manager, Operations Manager, Event Manager, etc.

Why study BBA Insurance?

When someone talks about their career, a common question is, "WHY? Similar questions arise here, "Why BBA Banking and Insurance? Before choosing this course and a career in banking and insurance, there are many things to think about.

(i). The Banking and Insurance sector currently employs over 5 million professionals, according to the NSDC report. There are numerous opportunities in this industry, which is one of India's leading employers of young, strong talent.

(ii). The most common reasons for BBA Banking and Insurance are, among other things, the opportunity to develop and enhance managerial and entrepreneurial skills, a competitive salary, improved career prospects, and faster access to real-world opportunities.

 Admission Process

You can apply to the BBA Insurance course either online or in person. Admission to the BBA Insurance can also be started by visiting the college's admissions office.

Types of BBA Insurance

The BBA Insurance offers full-time, part-time, and distance learning alternatives for candidate follow-up. The following are listed below

(1). Distance: BBA Insurance in India is designed for those who are unable to attend regular sessions; one of the most popular alternatives is BBA Insurance

(2). Full-Time: The BBA Insurance lasts three years and has the advantage of allowing students to accelerate the learning process and significantly improve their skills.

(3). Part-time: The BBA Insurance program is designed for professionals who are currently employed and cannot take time off for full-time study. A part-time BBA Insurance course is a great advantage.

Eligibility Criteria

The eligibility criteria for BBA Insurance are simply as follows:

1. The candidate must have passed 10+2 from the recognized board.

2. The student must achieve at least 50% of the points from 10+2.

3. The last year students still awaiting results may also apply.

 Admission process

Admission to the BBA Insurance is based on both the entrance exam and the achievements made. Below is the recruitment process for this:

(I). Fill out the application form: Visit the websites of the interested universities/institutes and fill out the application form, but first read the instructions on how to fill out the form correctly.

(ii).  Required Documents: A form is required to fill in various documents such as Aadhaar Card, Pan Card, Photo, Time Card, etc. Double check before final submission: Before final submission of the application form, make sure there are no errors in it.

(iii) Make Payment: After completing the registration form, you will need to make an online payment.

(iv)  Print Receipt: After payment, the applicant must print the last page of the receipt for future reference. Students have the option of being admitted directly to the course by completing the recruitment brochure and completing the offline recruitment form.

 Students also have the opportunity to go directly to the university and fill out an admission booklet. Students can also pay tuition fees offline.

Accepted Entrance Exam

Below is the list of some of the entrance exams for the BBA Insurance:

CAT	GMAT
XMAT	CMAT
SNAP	LPUNET
AUCET	GPAT
IPUCET	Symbiosis SET

Skills Required

A BBA Insurance is a program designed to enhance your skills and knowledge in the areas of insurance. Here are some common skills and competencies that are typically beneficial for pursuing BBA Insurance:

Communication Skills	Writing Skills	Project Management
Observation skills	Communication skills	Problem-solving
Analytical and Critical thinking skills	Time management	Decision-making skills
Planning and Good Management	Team Work	Leadership skills

Fee Structure

The FEE for some of the top BBA Insurance colleges is listed below:

Name of College	Average Annual Fee(INR)
WeSchool Mumbai	INR 1,40,000
Xavier University.	INR 1,60,000
Amity University	INR 3,00,000
IRMA	INR 3,81,000
School of Management, SRM IST	INR 5,03,000
XISS Ranchi	INR 8,00,000
Pondicherry University	INR 4,00,000
Jain University, Bangalore	INR 1,40,000
Shri Ram Murti Smarak College of Engineering and Technology	INR 1,50,000
KIIT	INR 2,50,000
XLRI	INR 1,20,000

Selection Criteria

The selection process for this course is students must complete 10+2 with 50% from the recognized board and also they have to clear the entrance test.  Some colleges conduct interviews for this course. After this process, students who have been selected will get an email from the respective university.

Course Comparison

BBA Insurance v/s BBA Rural Management

Parameter	BBA Insurance	BBA Rural Management
Course Name	BBA Insurance	BBA Rural Management
Course Overview	BBA Insurance examines the fundamentals and concepts used and practiced in the field of insurance management. The Insurance course involves the study of fundamental management concepts with specialized training in subjects such as international insurance management, treasury operations, risk management, investment banking, projects, infrastructure, etc.	The program aims to prepare students to become competent entrepreneurs and entrepreneurs by further developing their skills, knowledge, skills, and attitudes in the field of effective rural management and development.
Duration	3 year	3 years
Eligibility	Candidates should be 10+2 with 50%.	Candidates should be 10+2 with 50%.
Entrance Exams	CAT, CMAT, XAT, etc	CAT, CMAT, XAT, etc
Average Annual Fees	INR 14,000-10,00,000	INR 50,000-15,00,000
Top Colleges	Maharaja Surajmal Institute Of Technology, RIMT University, University Of Madras	Maharaja Surajmal Institute Of Technology, RIMT University, University Of Madras

 Top Colleges

The BBA in Insurance can be earned at many leading colleges and universities across the country. Some of the best colleges that offer this course are listed below along with some other details:

Name of College	Average Annual Fee(INR)	Location
RIMT University, Gobindgarh	INR 70,000	Gobindgarh
Maharaja Surajmal Institute Of Technology	INR 1,60,000	New Delhi
Manipal Academy of Higher Education (MAHE)	INR 1,00,000	Bangalore
SVKM's Mithibai College of Arts	INR 81,000	Mumbai
University of Madras	INR 85,000	Chennai
Amity University	INR 1,20,000	Noida
Pondicherry University	INR 2,00,000	Pondicherry
Techno India University	INR 75,000	Kolkatta
Shri Ram Murti Smarak College of Engineering and Technology	INR 80,000	Bareilly, Uttar Pradesh
KIIT	INR 2,50,000	Odisha
XLRI	INR 1,20,000	Jamshedpur

Job & Placements

A opens up various job opportunities in the hospitality industry. Here are some job profiles you can consider

Job Profile

Job Profile	Job Description
Underwriter of insurance	Insurance applications are evaluated and the risks associated with insuring individuals or businesses are determined by an insurance underwriter. They decide on coverage and premium rates after evaluating data and policy terms.
Claims Manager	A case agent researches and assesses protection claims recorded by policyholders. They look at claims for validity, gather evidence, talk to people who are involved, and figure out how much money will be covered and paid
Agent for insurance sales	Insurance policies are promoted and sold to individuals or businesses by an insurance sales agent. They meet with potential customers, explain various insurance options, help them choose a policy, and offer guidance on benefits and coverage.
Analyst in Risk	An insurance company's risk analyst identifies and develops strategies to manage and reduce those risks. They recommend strategies for risk management by looking at financial data, market trends, and industry regulations
Specialist in Insurance Marketing	Marketing Strategies for insurance products and services are developed and implemented by insurance marketing specialists. They collaborate with sales teams to generate leads and increase customer acquisition, create marketing campaigns, manage advertising and digital media efforts, and conduct market research.
Analyst in Insurance Operations	An insurance company's operational functions are supported by an insurance operations analyst. They look at data, keep an eye on the processes used to administer policies, find ways to make things better, help put new systems or technologies into place, and make sure that regulations are followed
Manager of Claims	An insurance company's claims handling procedure is overseen by a claims manager. They are in charge of supervising a group of claims adjusters, resolving difficult problems, making sure that claims are processed in a timely and accurate manner, and putting strategies into action to increase productivity and satisfy customers.

Top Recruiters

Listed here some of the top recruiters who hire for BBA Insurance are listed below:

IBM	IDFC Bank	Goldman Sachs
INNOWAR	HP	Microsoft
LIC	McKinsey & Company	Deloitte
HDFC	ICCI Bank	TCS

Average Salary

Below are job profiles with approximate salaries:

Job Role	Average Annual Fee(INR)
Investment Analyst	INR 3,75,000
Credit and Risk Manager	INR 8,00,000
Loan Counsellor	INR 3,50,000
Internal Auditor	INR 9,00,000
Agent and Broker	INR 4,78,000
Internal Auditor	INR 3,00,000

Career/Scope

Insurance is a trillion-dollar industry with a staggering number of employees. There are numerous opportunities for career advancement and advancement in this industry, which is both stable and active. The need for insurance professionals is also growing as wealth and population increase.

Most government banks hire graduates for various positions based on the All India Examination. There is a preference for graduates from the commerce stream, but anyone can get into this field by passing the entrance exams that banks hold every year. Banks prefer experienced bankers at senior levels.

Career Options for BBA Insurance

 

Some of the popular professional avenues open to successful graduates/ postgraduates of the course are listed below with the corresponding salaries offered for the respective positions.

(i). Underwriter of insurance: Insurance applications are evaluated and the risks associated with insuring individuals or businesses are determined by an insurance underwriter. They decide on coverage and premium rates after evaluating data and policy terms

 

(ii). Claims Manager: A case agent researches and assesses protection claims recorded by policyholders. They look at claims for validity, gather evidence, talk to people who are involved, and figure out how much money will be covered and paid

 

(iii). Agent for insurance sales: Insurance policies are promoted and sold to individuals or businesses by an insurance sales agent. They meet with potential customers, explain various insurance options, help them choose a policy, and offer guidance on benefits and coverage.

(iv). Risk Analyst: An insurance company's risk analyst identifies and develops strategies to manage and reduce those risks. They recommend strategies for risk management by looking at financial data, market trends, and industry regulations.

(v). Analyst in Insurance Operations: An insurance company's operational functions are supported by an insurance operations analyst. They look at data, keep an eye on the processes used to administer policies, find ways to make things better, help put new systems or technologies into place, and make sure that regulations are followed.

(vi). Specialist in Insurance Marketing: Marketing Strategies for insurance products and services are developed and implemented by insurance marketing specialists. They collaborate with sales teams to generate leads and increase customer acquisition, create marketing campaigns, manage advertising and digital media efforts, and conduct market research.

Scope for Higher Education

BBA Insurance is vast, which gives candidates a chance to pursue higher studies after obtaining the degree. The following are some of the best higher education programs Certification Courses, PG in Insurance.

Skills that make you the Best

To excel as a BBA Insurance graduate, many skills are required that will help to increase the individual learning curve and boost a practical approach that must be inculcated in the continuous learning environment.

(i). Communication skills
(ii). Interpersonal skills
(iii). Leadership skills
(iv). Problem-Solving skills
(v). Analytical skills
(vi). Listening skills

 FAQs

(1). What is a BBA Insurance?

Ans. BBA Insurance examines the fundamentals and concepts used and practiced in the field of insurance management. The Insurance course involves the study of fundamental management concepts with specialized training in subjects such as international insurance management, treasury operations, risk management, investment banking, projects, infrastructure, etc.

(2). What is the average fee structure for BBA Insurance?

Ans. The average BBA Insurance fees charged by colleges or universities in India lie between Rs.14,000-10,00,000 per year.

(3). What is the expected salary for BBA Insurance?

Ans. The expected salary for a BBA Insurance graduate is around  INR 2,00,000-10,00,000 per annum.

(4). What are the eligibility criteria for admission to BBA Insurance?

Ans. The eligibility standard for BBA Insurance is that applicants have to have finished 10+2 from a recognized board.

(5). What is the admission process for BBA Insurance?

Ans. The admission process for BBA Insurance is both merit-based and entrance based.

(6). What are the top entrance examinations for BBA Insurance?
Ans. CAT, GMAT, CMAT, IPUCET, etc are some of the top entrance examinations for BBA Insurance.

(7). What are some of the best colleges for this course program?

Ans. The best Colleges for this program are the Institute of RIMT University, Pondicherry University, Maharaja Surajmal Institute Of Technology, Manipal Academy of Higher Education (MAHE), KIIT, XLRI, etc.

(8). What are some of the most popular job profiles for a BBA Insurance?

Ans. Popular job profiles for this course are Branch Manager, Human Resource Manager, Operations Manager, Event Manager, etc

(9). What are the top recruiters of BBA Insurance?

Ans HP, ICICI Bank, McKinsey & Company, Microsoft, Goldman Sachs, IBM Deloitte, Sony, etc are some of the top recruiters of BBA Insurance.