Below FAQs seek to answer some common questions asked with respect to the Course- Certificate in Bancassurance Channel Management
The future of insurance sector and particularly the life insurance industry is promising. Insurance sector is growing at a rapid rate with all the players looking to grow its market share. The life insurance industry is expected to increase at a CAGR of 5.3% between 2019 and 2023. The Government of India has also taken number of initiatives to boost the insurance industry. There are several changes in regulatory framework to further change in the way the industry conducts its business and engages with its customers.
Life insurance industry in the country is expected to increase by 14-15% annually for the next three to five years. Demographic factors such as growing middle class, young insurable population and growing awareness of the need for protection and retirement planning will support the growth of Indian life insurance.
In this context, Insurance is a growing sector. Yet the market penetration in India is hardly 3.76% (with life insurance @ 2.82% and Non-Life @ 0.94%)
In an era where customers seek convenience and ease of business, the BFSI sector offers several synergies. Banks and Insurance companies have realised the significance of collaboration while offering excellence in customer service. Bancassurance is one of the fastest growing channels in the Insurance sector. This has raised the need for trained staff to drive insurance business (life and non-life ) on the premises of partner Banks. In turn, there are immense career opportunities which is professionally / financially rewarding in the Bancassurance (Banca) channel.
Minimum Qualification is Graduation. Any recent Graduate or Post Graduate ( including Year 1 & 2 PG students) from any stream (with or without work experience ) and who are interested to have a rewarding career in Insurance, Bank, Broking houses, NBFCs etc. Working professionals having up to 2 years field sales and marketing in BFSI/ other sectors and want to their make a career in the Banking & Insurance sector may also apply.
This would enhance your skills in business development and sales particularly in becoming an insurance professional.
It is a great opportunity for:
An eligible candidate can register and sign up for the course by clicking on “REGISTERATION” which will take one to the Course Payment and Registration Form. Upon successful payment you will receive the Payment ID which is required to complete the registration process.
The programme comes with a placement assistance for the role of Relationship Manager, Front line Sales Manager, Area Manager, Territory Manager etc. in Banca / partner channel in Insurance companies / Banks/ broking houses / NBFCs etc. where Bacassurance or insurance channel partner is core or ancillary business channel. Business development sales will be an essential feature of all the possible roles. All placements are subject to the candidate successfully clearing the assessments, company eligibility and job interviews at all levels.
This programme is immersive and provides you with a realistic understanding of the Banca assurance channel of the Insurance sector. The course incorporates basic of insurance, life and non-life relevant to the Banca role, Bancassurance evolution, benefits, relationship management, data mining etc. besides focus on Sales and selling the Bancassurance way. It will extensively engage you in theory case studies, hands on practical problem solving, and assignments to get you ready for the Banc assurance role. The experienced faculty will interact and mentor the learning process.
On successful course completion and passing the assessment test you will be issued “Certificate in Bancassurance Channel Management” by the BFSI Sector Skill Council of India ( BFSI SSC).
LnD Pool in association with BFSI Sector Skill Council of India (BFSI SSC) has designed this special program “Certificate in Bancassurance Channel Management” After completion of the course the student will appear for the assessment test to be held by the BFSI Sector Skill Council of India.
This Course is aligned to QP Code BSC/ Q3801 and the Certificate will be issued by BFSI Sector Skill Council of India (BFSI SSC) BFSI Sector Skill Council of India (BFSI SSC) is the assessing and certifying body under the National Skill Development Corporation (NSDC) Ministry of Skill Development Entrepreneurship (MSDE). BFSI SSC is supporting the national capacity building agenda of MSDE and is a catalyst in aspirants getting the required knowledge and skills specifics to the BFSI sector. The BFSI SSC also is a nodal agency as a joint apprenticeship advisor for the BFSI industry and is well connected across the BFSI sector
A candidate is declared to have successfully passed the Assessment test if he/ she secures 50%.
The assessment test will be conducted online on the multiple choice question (MCQ ) type model.
The course fee for resident Indian student is Rs. 16,945/- which includes one-time assessment test fee but excludes GST. Hence, the total amount payable including GST is Rs. 19,995/-.
The course fee can be made online through the Registration/ Payment link available (on www.Lndpool.com) using Bank transfer / NEFT/ UPI etc. Payment through Bank transfer and NEFT modes do not attract Convenience Fee.
The Bancassurance Channel Manager Certification program is a one month course. Fees once paid are non-refundable under any circumstances.
In case a student is unable to pass the assessment test the first time, he/she can repeat the test as per the calendar scheduled and intimated to him/her. There is no restriction on the number of attempts to appear for the assessment test. However, the candidate will need to pay for every subsequent test fees separately as per the fees advised which by the Council. All subsequent test registration/ payment will also be done through LnD Pool.
The delivery will be virtual instructor led classes. The candidate will be given study material ( soft copy), Live sessions, assessments, faculty and learner engagement, batch group engagement, notifications, and other related delivery services as applicable to the course.
You will need uninterrupted internet connection to attend classes through laptops and mobile devices for a rich experience.
The student must fulfil the eligibility criteria for enrolment to the course. Since the medium of instruction for the course will be in English language, a basic understanding of English language is expected.