Insurance Institute of India

What Insurance Institute of India does

The Insurance Institute of India (III) is the sole professional insurance education institute in India, established in 1955 (formerly the Federation of Insurance Institutes) and chartered as a member of the Institute of Global Insurance Education (IGIE). It serves as the designated examining body for IRDAI-mandated pre-licensing training and certification of insurance agents, corporate agents, surveyors, insurance marketing firms, web aggregators, and insurance brokers, and operates a three-tier professional certification framework (Licentiate 60 credit points, Associateship 250 credit points, Fellowship 490 credit points) alongside specialized diplomas in Marine, Fire, Health, Life Insurance Underwriting, Casualty Actuarial Science, and Compliance Governance and Risk Management.

III delivers its curriculum through the iiiexams.org examination portal, a web-based training portal, and a mobile e-learning application, supplemented by classroom programs at its College of Insurance in Mumbai and Kolkata and Post Graduate Diplomas in Health Insurance (PGDHI) and Insurance Marketing (PGDIM) in collaboration with Mumbai University. Technology infrastructure centers on a proprietary credit point accumulation system, a Web Wallet corporate payment facility for bulk registration, bilingual (English-Hindi) examination support, and an online diploma verification system. The institute maintains 91 Associated Institutes across India and 3 Affiliated Institutes in Sri Lanka and Bhutan.

Revenue is generated through per-paper professional examination fees (revised effective April 2026), training fees (Rs. 500–750 per candidate plus GST), study material sales in print, e-book and audio formats, diploma and transcript services (Rs. 800 domestic / Rs. 2,500 overseas), and exemption processing fees (Rs. 1,500–5,000). The institute serves individual candidates seeking certification, insurance companies conducting bulk agent training via the Web Wallet, and corporate members including LIC, GIC Re, New India Assurance, Oriental Insurance, National Insurance, and United India Insurance who participate in Council governance. Strategic partnerships extend credentialing with the Chartered Insurance Institute London, Institute and Faculty of Actuaries UK, Academy of Life Underwriting USA, AIU, ICSI, and the Institute of Actuaries of India.

Name

Insurance Institute of India

Legal name

Insurance Institute of India

Website

https://www.insuranceinstituteofindia.com

Company type

Private

Operating status

Operating

Short description

The Insurance Institute of India is the sole professional insurance education body in India, providing IRDAI-mandated pre-licensing certification, three-tier professional examinations (Licentiate, Associateship, Fellowship), and specialized diplomas for insurance agents, brokers, surveyors, and underwriting professionals across India.

Ownership category

akta.pro rank

Product category

Professional Insurance Education and Certification

NAICS

Other Insurance Related Activities (52429), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Services-Educational Services (8200)

akta.pro primary industry

Financial Services & Insurance (FINRA, CFP, IAR, Insurance CE) (EDAAALAJ)

akta.pro secondary industries

Insurance Finance & Risk (Actuarial, Claims, Solvency) (EDABAJAJ), Insurance Licensure & Designation Prep (Life/Health/Property & Casualty, Series insurance exams) (EDANAIAI), Insurance (EDABALAQ)

Keywords

• Insurance professional education
• Insurance certification programs
• Pre-licensing examination
• Insurance training services
• Professional development courses

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Technology or R&D, Marketing or Sales, Personnel

Revenue model

1. Professional Examination Fees: Fees charged for professional examinations at Licentiate, Associateship, and Fellowship levels. Revenue model based on per-paper examination fees with revision of professional examination fees effective from April 2026.
2. Training Programs: Online training programs for insurance agents (POSP), corporate agents, insurance marketing firms, web aggregators, and insurance brokers. Training fees range from Rs. 500-750 per candidate plus applicable GST.
3. Study Materials: Sale of study materials including hard copies, e-books, and audio books. 5% GST charges applicable on e-books from 20.03.2026. Price list available for various subjects.
4. Diploma and Certification Services: Fees for diploma certificates, transcripts, and membership verification. Transcript fees: Rs. 800 within Maharashtra, Rs. 2500 for overseas candidates.
5. Exemption Processing Fees: Fees for credit transfers and exemptions based on prior qualifications from partner institutions. Exemption fees range from Rs. 1500 to Rs. 5000 depending on qualification level.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels7 records

Core offering

The Insurance Institute of India delivers professional insurance education, training, and certification to insurance agents, corporate agents, brokers, surveyors, web aggregators, and other intermediaries. Its core offering is a three-tier professional examination system (Licentiate, Associateship, Fellowship) using a credit point framework, supplemented by IRDAI-mandated pre-licensing examinations, specialized diplomas, postgraduate diplomas with Mumbai University, online certificate courses, and continuing professional development programs. Revenue is earned through examination fees, training fees, study material sales (print, e-book, audio), transcript and membership services, and exemption processing.

Product overview

Insurance Institute of India operates as a professional body offering a comprehensive portfolio of insurance education and certification programs. The organization provides a three-tier professional examination system (Licentiate, Associateship, Fellowship) with a credit point framework, alongside specialized diplomas in areas such as Marine, Fire, Health, and Life Insurance. The College of Insurance in Mumbai and Kolkata delivers classroom-based postgraduate diplomas (PGDHI, PGDIM) in partnership with Mumbai University. IRDAI-mandated training and examination programs serve insurance intermediaries including agents, corporate agents, marketing firms, web aggregators, and brokers. Additional offerings include online certificate courses, study materials in multiple formats (hard copy, e-book, audio), continuing professional development programs, and an academic research center. The organization also provides a web wallet payment system for corporates managing training and examination fees.

Differentiator

Problem solved

Functional benefit

Brands

• PGDHI: Post Graduate Diploma in Health Insurance - A postgraduate program in health insurance offered in collaboration with Mumbai University
• PGDIM

Products and services

• Professional Examinations (Licentiate, Associateship, Fellowship)
• IRDAI Pre-licensing Examinations for Insurance Intermediaries
• Surveyors Examination
• Specialized Diplomas
• Post Graduate Diploma in Health Insurance (PGDHI)
• Post Graduate Diploma in Insurance Marketing (PGDIM)
• College of Insurance Training Programs
• Online Certificate Courses
• Continuing Professional Development Programme (III-CPD)
• Study Materials (Hard Copy, E-Book, Audio Book)
• Diploma and Transcript Services
• Credits for Prior Learning (Exemptions)
• The Journal of Insurance Institute of India

Quantifiable outcome

• Credit point recognition by Chartered Insurance Institute (CII) London for subjects passed at III examinations
• +1 more outcomes

Named customers6 records

Segments1 record

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eleven partnerships are on record, tiered core.

• Chartered Insurance Institute (CII), LondoncoreStrategic or Co-development PartnerScheme of arrangement for recognition of prior learning. III qualifications are recognized by CII London, which awards credit points to subjects passed at III examinations. Candidates can claim credit points against subjects passed at III Examination by following prescribed steps and paying processing fees.
• Association of Insurance Underwriters (AIU)coreStrategic or Co-development PartnerJointly offers Diploma & Advanced Diploma in Life Insurance Underwriting. The diploma covers Legal and Regulatory aspects for Life Underwriters and Fundamental of Medical Underwriting at basic level, and Intermediate Medical & Non-Medical Life Insurance Underwriting at advanced level.
• Academy of Life Underwriting Inc. (ALU), U.S.A.coreStrategic or Co-development PartnerTextbook provider for Advanced Diploma in Life Insurance Underwriting course jointly offered with AIU.
• Institute of Company Secretaries of India (ICSI)coreStrategic or Co-development PartnerJointly offers Certificate Course on Compliance, Governance and Risk Management in Insurance. Course divided into online examination and 3-day classroom training covering Fundamentals of Insurance, Insurance Regulations, Governance and Compliance, and Risk Management.
• Institute and Faculty of Actuaries, UKcoreStrategic or Co-development PartnerFellows and Associates of Institute and Faculty of Actuaries with 7+ years standing can be admitted as Fellows/Associates of III upon application with requisite fees and proof of membership.
• Institute of Actuaries of IndiacoreStrategic or Co-development PartnerFellows and Associates of Institute of Actuaries of India with 10+ years (Fellows) or 7+ years (Associates) standing in profession can be admitted as Fellows/Associates of III.
• Insurance Regulatory and Development Authority of India (IRDAI)coreStrategic or Co-development PartnerIII is the designated examining body for IRDAI-mandated pre-licensing examinations for insurance agents, corporate agents, surveyors, insurance marketing firms, web aggregators, and insurance brokers. IRDAI representatives participate in Board of Education and Examination Committee.
• Mumbai UniversitycoreStrategic or Co-development PartnerPGDHI (Post Graduate Diploma in Health Insurance) and PGDIM (Post Graduate Diploma in Insurance Marketing) programs offered in association with Mumbai University.
• Sri Lanka Insurance InstitutecoreOthersOne of the three affiliated institutes outside India. Members automatically become members of III.
• Sri Lanka Insurance AcademycoreOthersOne of the three affiliated institutes outside India. Members automatically become members of III.
• R.I.C.B. Insurance Institute, BhutancoreOthersOne of the three affiliated institutes outside India. Members automatically become members of III.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Chartered Insurance Institute (CII) London: UK-based chartered body for insurance and financial planning professionals offering tiered certifications (Cert/Diploma/Advanced Diploma) with global recognition. III has a mutual credit recognition agreement with CII London, making it the closest international peer in professional insurance education.
• National Insurance Academy (NIA), Pune: Indian insurance training institution offering postgraduate programs (PGDM in Insurance, Fellowship in Risk Management) for the same insurance industry talent pool as III, including candidates from LIC, GIC Re, and private insurers.
• The Institutes (formerly AICPCU/IIA): US-based provider of insurance education designations (CPCU, ARM, AINS) for property-casualty insurance professionals. Comparable tiered certification model and designation-based credentialing structure closely mirrors III's Licentiate-Associateship-Fellowship approach.
• LIMRA: Global industry association providing insurance and financial services training, research, and certification programs. Serves the same corporate insurance clients (LIC, GIC Re member companies) and competes for the same training budget pool.
• LOMA (now LL Global): US-based insurance industry association focused on life insurance and financial services education and professional development. Offers designations (FLMI, ACS) parallel to III's life insurance underwriting and insurance salesmanship certificates.

Regional players

• Insurance Institute of Canada (IIC): Canadian chartered body offering the CIP (Chartered Insurance Professional) designation with similar tiered national credentialing model. Comparable in scale, governance, and mandate to III but operating in a different geographic market.
• Australian and New Zealand Institute of Insurance and Finance (ANZIIF): Australia/NZ-based professional body offering insurance and finance qualifications with a similar charter-based structure to III. Comparable peer from a different geography with mutual recognition potential for Indian insurance professionals.

Emerging players

• Institute of Actuaries of India (IAI): India's actuarial professional body and III's mutual recognition partner for Fellowship/Associateship admissions. Overlaps with III in actuarial training (Certificate in Foundation Casualty Actuarial Science) but focuses on the narrower actuarial credential.

Others

• Asia Pacific Risk and Insurance Association (APRIA): Academic association promoting risk and insurance research across Asia-Pacific, including publishing The Journal of Insurance Institute of India (UGC CARE listed). Comparable in academic/research dimension rather than commercial certification.
• Insurance Information Institute (III-US): US-based non-profit insurance industry education and research organization. While focused on consumer education and industry research rather than professional certification, it operates in the same educational/awareness-building category adjacent to III's research center and journal.

Market position

Strengths1 record

Weaknesses1 record

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCE9TxiGwBxEjgM8H-l5IUhw
• Facebookfacebook.com/insurance-institute-of-india-164203300299381
• Instagraminstagram.com/insurance_institute_of_india?igsh=MW56ZjA4Y2Y0aWFmaw%3D%3D

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Insurance Institute of India