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About Insurance Career in India

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Insurance Career Overview
Insurance Career is the employment option that lately came to India’s innovative career seekers. When liberalization policies opened up ground to Indian private sector Insurance companies and FDI capital, the growth thirsty sector started to boom. India’s general public was also in a hurry to receive the service oriented insurance business. The Insurance sector not only provide protective shield to the lives and assets of the nation but generate thousands of jobs and career opportunities for India.

The LIC & GIC Era
As you know that there are two main areas of the insurance industry, viz., Life Insurance and General Insurance, there are job seekers who wish to specialize either in life insurance jobs or general insurance jobs. During pre-liberalization era, Life Insurance Corporation of India and General Insurance Corporation and its subsidiary companies solely met the insurance needs of the people.

Life Insurance Corporation of India
LIC of India is a government owned insurance company and nationally recognized as one of the significant providers of life insurance in India. LIC provides life insurance products to people of different ages, as they are the largest employer in the insurance sector of India with a wide variety of jobs and careers options. LIC stood not only as the backbone of India's insurance industry but provided jobs to people directly and indirectly at different levels across urban and rural India.

The GIC and its Subsidiaries
The General Insurance Corporation of India was formed in 1972 as an enterprise of Government of India. This corporation along with its four subsidiary companies was in the business of general insurance, mainly where it was mandatory. GIC and its subsidiary companies, viz. The Oriental Insurance Company Limited, National Insurance Company Limited, New India Assurance co. Ltd and United India Insurance Co. Ltd. generated lot of job opportunities in the employment scarce India.

Private Sector Insurance Companies

The following are the Indian private sector and MNC Life Insurance companies.

HDFC Standard Life Insurance Company Limited.
Max New York Life Insurance Company Limited.
ICICI Prudential Life Insurance Company Limited.
Kotak Mahindra Old Mutual Life Insurance Limited.
Birla Sun Life Insurance Company Limited.
Tata AIG Life Insurance Company Limited.
SBI Life Insurance Company Limited.
ING Vysya Life Insurance Company Private Limited.
Bajaj Allianz Life Insurance Company Limited.
Metlife India Insurance Company Private Limited.
AMP Sanmar Life Insurance Company Limited.
Aviva Life Insurance Company India Private Limited.
Sahara India Insurance Company Limited.
Shriram Life Insurance Company Limited.

Private sector General Insurance companies serve Indian market with a variety of products and services. They are as listed below:

Royal Sundaram Alliance Insurance Company Limited
Reliance General Insurance Company Limited.
IFFCO-Tokio General Insurance Company Limited.
Tata AIG General Insurance Company Limited.
Bajaj Allianz General Insurance Company Limited.
ICICI Lombard General Insurance Company Limited.
Cholamandalam General insurance Company Limited.
Export Credit Guarntee Corporation Limited.
HDFC-Chubb General Insurance Company Limited

Many Insurance companies provide comprehensive career development schemes for their advisors for enhancement of their job skills and to be acquainted with practices prevalent in the insurance industry.

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