The vision of the Insurance Institute of India is to become a professional institution of global repute committed to conduct high quality training and impart insurance education. Developing skills and competencies for all is the cornerstone of its objectives.
About Mr. P. Jaipuria
Shri P. Jaipuria, Secretary General of the Insurance Institute of India since November 2024, brings over 30 years of experience from LIC, where he held key roles across marketing, IT, and operations. He previously served as Director of the College of Insurance, driving impactful education initiatives. Renowned for his strategic leadership and customer-centric approach, he is committed to advancing insurance learning and professional excellence in India.
Q: You recently took charge as the Secretary General of the Insurance Institute of India (III). What are your key priorities and vision for the Institute?
A: The vision of the Insurance Institute of India is to become a professional institution of global repute committed to conduct high quality training and impart insurance education. Developing skills and competencies for all is the cornerstone of its objectives. Thus, key priorities and vision of the Institute is obviously are aligned with its activities to develop skillset, build capacities, conduct certificate courses, and customized sessions meant for corporate employees.
Collaboration with insurance companies, colleges, and universities is also one of the key result areas enabling the target group pursue their specialized certificate courses and prosecute advanced studies on Insurance. Opening of Insurance Hub/Insurance Education Centre in alignment with the initiatives of Government of Odisha, enhancing digital presence of III and its academic programmes through social media, Instagram are also there in the priority list.
Q: How do you plan to further strengthen III’s role in enhancing insurance education and professional development in India?
A: Apart from the traditionally tailor-made classroom modules, digital technology would be leveraged by way of familiarizing Simulation exercises, case studies, gamification and AI driven teachings etc. Customized sessions would be designed on the basis of training need analysis keeping in mind of trending topics. Organizing seminars/ webinars would be focused more to meet the demands of the executives of the Industry. Introduction of insurance subjects in CBSE syllabus will help in enhancing the insurance awareness at the secondary/higher secondary level.
Q: III has played significant role in imparting insurance education in India. What new initiatives are being planned to update and modernize the curriculum? Are there any plans to introduce specialized courses or certifications focusing on emerging areas like InsurTech, ESG in insurance or parametric insurance?
A: Initiatives are on the agenda to incorporate new courses of AI and Machine Learning applicable to insurance domains. Fundamentals of block chains, for processing claims and taking underwriting decisions are to be covered in curriculum. Upcoming subjects like parametric insurance, cybercrime, catastrophe management, soft skill development, etc will be incorporated as new contents. There is a need to focus more and more on partnership with caring companies in the industry for furthering the interest of their employees through customized trainings. Benefits of placement cell can be extended to the desired groups. The scope is being widened to commencement of specialized courses on Insure-techs, ESG, ERM, Underwriting and Risk management etc.
Q.: How is III adapting to the changing landscape of the insurance industry to ensure that its courses remain relevant and aligned with industry needs?
A: We are vigilant of the development in and around the industry. We have the support of both Life Insurance Council and General Council. Global practices and prevailing international standards are brought to the knowledge of all concerned through publication of Magazines, Seminars and Webinars organized from time to time. We are in the process of developing specified modules in alignment of changing scenario as approached by the industry players. Relevant contents are periodically reviewed and updated in order to remain in sync with industry.
Q: What strategies are in place to attract more professionals and students to pursue insurance as a career?
A: III has been singular in purpose to partner with Colleges and Universities for motivating students to pursue insurance education and qualify for Certificates and Diplomas to help in their employability.
Q: With the increasing adoption of digital learning, how is III leveraging technology to enhance its training and certification programs?
A: There are online Certificate Courses on different upcoming and trending subjects specially tailor-made for professionals. We are proactive with ideas of introducing new specialized certificate programs on topics which are likely to hit the market. The Institute has a Research Cell which fetches new inputs to get set for the new direction. Through Mobile Apps, we are helping resources under distribution channels to get upskilled. Online platform has been created for updating and disseminating information about the industry.
Q: What message would you like to share with insurance professionals, students, and industry stakeholders regarding the importance of continuous learning and professional development in insurance?
A: Message in common to the professionals, students and stakeholders will be to ‘keeping abreast with new changes, functional as well as regulatory, in the industry’. Secondly, it is equally an essence to stay current on international development and best practices.
