National Insurance Academy
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The National Insurance Academy (NIAPUNE also known as NIA or simply Academy) is situated in Pune, India. It is a capacity builder in Insurance Sector of Asia and Africa founded in 1980 by the Finance Department of the Indian government.
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[edit] President of India's visit to NIA
Dr. APJ Abdul Kalam, President of India, visited NIA on January 17, 2007.
[edit] Evolution of NIA
Real development of the academy started in 1999. The academy is now an integrated management school with training, education, publications, research, consultancy and regulatory advisory services. Life insurance, general insurance, reinsurance, health insurance, crop insurance, credit insurance, pensions, actuarial services, insurance Investment, developing insurance institutions and leadership for succession planning and insurance regulatory compliance are the fields covered by the academy.
[edit] Conceptual Innovations
The academy has developed 7A framework for the organizational structure of insurance, 7P framework for the underwriting structure of insurance and 7E framework for the value structure of insurance. The academy has contributed substantially to develop the emerging concept class of Parametric Insurance.
[edit] Institutional expansion
Apart from the mother institution NIA, the academy houses an MBA program NIA SoM, an Executive MBA Program (NIASEE), a producer development program (NIASPD), a pension research program (NIAPRI). NIA is also the statutory examining body for insurance brokers in India as per IRDA Regulation. The Academy is home for historically famous Lloyd's Box symbolic of a Syndicate at old Lloyd's of London.
[edit] History of Lloyd's Box
Lloyd's Box is essentially a set of historical Lloyd’s Tables. The Lloyd’s Box at National Insurance Academy was Michael Payne’s box syndicate number 386. Michael Payne was a specialist Non- US liability underwriter at Lloyds. It was installed in the old Lloyds - it was unique as it was the only non square underwriting desk in Lloyds.
While adorning 1952 Lloyd's building it was acquired in 1970 and the esteemed box became a feature of the underwriting room at Lloyds Gallery level in the early 1970's. When Lloyds moved to their new building in approximately 1987, it was purchased by Robert Porter the then Managing Director of E W Payne and installed in E W Payne's boardroom at 8 Bridge Street Sydney.
Significantly Rob Porter had broked many pieces of Australian Liability business at that desk in the late 1970's and early 80's, when relocated to Bridge street many good lunches were enjoyed by the mighty and powerful in insurance at it in the EW Payne board room.
"When removed from the 1952 Lloyds building the removal was overseen by the head waiter at the time who was delighted to know that it would continue service in Australia"
Rob Porter purchased the table by means of an offset brokerage deal between the QBE - E W Payne & Syndicate 386. The nominal value placed on it was AUD 25,000.
In 2006, this historical Lloyd's Box was presented to the Director of National Insurance Academy (Dr K C Mishra) as Guru Dakshina by the Principal Officer of Marsh (Mr Sanjay Kedia). Now it is housed in National Insurance Academy Museum at Greenleaf Dome, named after the former AT & T Chairman, who popularized the concept of "Servant Leadership".
[edit] NIA School of Management
NIA SoM is the Management School of National Insurance Academy in India. It completed its silver jubilee in 2005. National Insurance Academy School of Management has some features not quite common with management schools.
[edit] Extramurals
Apart from its Risk Management and Insurance focus due to its parentage, it has adopted five extramural management techniques"
[edit] Structuring the Unstructured by Discussion, Evolution, Negotiation and Training
Structuring the Unstructured by Discussion, Evolution, Negotiation and Training is a program meant for learning management by finding the management gap of undermanaged sectors of the society and trivializing the process by making the diagnostics acceptable to the target group in the hinterland;
[edit] Management Intrapreneurship Development
Management Intrapreneurship Development is basically the concept of servant leadership so convincingly propounded by Robert Greenleaf, the erstwhile Chairman of AT&T. MID envisages the process of moving the corporate forward by being internal entrepreneur while obeying the boss of the day;
[edit] Business Ethics Advancement and Development
Business Ethics Advancement and Development. Business ethics goes much beyond the mechanistic codes of Corporate Governance or legalistic compliance of SOX like provisions. Business ethics is not a strategic option but a desirable compulsion. There is advantage in being aggressve in advancing something which is eternal, universal and compulsory for strategic existence. Developing ethical options is a challenge and any option brings in its wake a craft of management;
[edit] Insurance laboratory
Insurance laboratory. All real trains develop from the model of a toy train. Laboratory is a midspace between textual concepts and field applications. Developing such midspace is one time challenge but converts acquired wisdom into institutionalized congenital wisdom. It reduces the incidence reinventing the wheel either due to lack of organizational memory or due to the tendency of learning by rote. With advent of technology, both actual and virtuallabs are now possible. A subject like insurance can be captured for the posterity by developing such inlabs -an idea which can be replicated in other fields of domain and functional management.
[edit] Content and context
Contents remaining same, learners can pick up their own context. In the post modern era of case studies clinical trial process of Cohort study is now adopted in this school to energize the throughput of management learning. Another innovation is Self-audit credits in curriculum. There is Vedic message that if cow is given grass, she gives milk but even if snake is given milk, it spills poison. So process embedded in a system is more important than inputs for a desired output. This concept is achievable by self-audit system meant to modulate the throughput of the students by encounter with the real world but metamorphosis monitored by rendering a motivation for achieving a standard in self-audit.
[edit] Institutional environment
NIA SoM parent organization National Insurance Academy is promoted by the Government of India, Ministry of Finance and companies in insurance sector wholly owned by the Ministry of Government of India. NIA SoM as a business school was founded in 2004 by Dr. K C Mishra after he joined as the Director of National Insurance Academy in 1999.
[edit] Convocation 2006
June 18, 2006 was a day of celebration for National Insurance Academy School of Management for the achievements of our postgraduate students securing Masters in Business Administration with specialization in Life /General Insurance along with functional specialization namely in Finance/Marketing/Human Resource /Information Technology.
In the event of inclement weather, the convocation ceremony was held in National Insurance Academy's Campus on June 18TH, Sunday. The Convocation ceremony at NIA SoM signified the official conferral of degrees for all NIA SoM postgraduates. During the convocation NIA SoM acknowledged the individual achievements and recognized each student by name.
The Chairman of Unit Trust of India Mutual Funds, Shri U.K. Sinha was the Chief Guest on the occasion whereas Shri R. K. Joshi Chairman cum Managing Director of General Insurance Company was the President of the Convocation. Among the other distinguished guests were Shri. M. Ramadoss Chairman cum Managing Director of Oriental Insurance Company and Shri Thomas Mathew T, Managing Director of Life Insurance Corporation. The Director of NIA Dr. K.C. Mishra had given the welcome address to the august gathering.
There was an overall emphasis given by the dignitaries on soft skills to be developed by the students during the two years of their MBA course apart from their academics. Most of them reminded the students that their learning was not really over but would perhaps begin the moment they step out beyond the institute. There were deliberations on how students need to have a never give up approach and young executives can meet the challenge of excelling in a Global insurance market through innovativeness, Team working and Humility.
On this occasion the Academy had given out prestigious awards like J.B. Boda D.B. Boda Gold Medal for General Insurance , Ram M. Moghe Gold Medal for Life Insurance, ALEgION Award for Best Industry Relevant Summer Project, Hemalatha Award for Best Academic Contribution, Director's Trophy for Best Inlab Project, Directors Gold Medal for Best Student, National Insurance Academy Gold Medal for Best Academic Merit, Mahadev Narayan Parchure Award for standing first in Business & Insurance Law.
NIA SoM being established on a high quality level with a compelling value proposition for each new student has developed numerous student-centric initiatives and programmes like MID, BEAD and STUDENT Program. These help the students passing from NIA be the leader in the changing global business scenario.
[edit] CD Deshmukh Fellow
At research level NIASOM has established several instrumentalities. A journal "PRAVARTAK" is a research publication running in parallel to BIMAQUEST published by the parent institution National Insurance Academy. Dnyanajyoti Research Series (DJRS) is a research serial, which publishes occasional papers dealing with insurance and risk management. "Utkarsh' is another student publication focussing on learning issues, which students want to highlight in their ownway. The Doctoral program revolves around Management, Insurance, Risk Management, Information Technology and Economics.
The academy conducts a selection and nomination process to find out a "C D Deshmukh Fellow" based on the excellence of past research recognized both by academia and insurance industry. Similarly for student researchers creating excellence in developing insurance laboratory project, an endowment is established by a former chairma of Life Insurance Company in early eighties known as "A S Gupta" endowment.
In 2006, in recognition of its dedication for development of insurance laboratory, a historical Lloyd's Box was donated to the academy's director Dr K C Mishra by Marsh, which is now housed in academy's Greenleaf Dome. A few pictures of Lloyd's box at NIASOM are placed here:
