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Insurace surveyors & loss assessors: qualification,training, exam & licensing requirements

To be eligible to act as an insurance surveyor & loss assessor, the insurance regulatory authority has prescribed certain qualifications. The aspirant should have a degree or diploma in any branch of engineering or a qualified charted accountant or he should be an associate member of Insurance Institute of India. As per the current norms, you are eligible to apply for surveyor’s license in line with your area of specialization only. For example, the motor accident claims are handled by the motor surveyors which require mechanical or automobile engineering. Qualifications. The property damages claims occurred due to flood, earthquake, fire are mostly dealt by the CA’s or engineering graduates, As the most of the claims arise in these categories, the people with above qualification are most suitable to enter the profession. To find the details of required qualification for various departments, you may follow the link below & visit page 66 of the surveyors regulation 2015.

Required qualification for insurance surveyor & loss assessor (current)

 Proposed qualifiactions for insurance surveyor & loss assessor (future)

Insurance surveyors training & on line exam

After ascertaining the qualification criteria, one has to enroll as a trainee surveyor with IRDA & complete a one year training under a senior surveyor. After completion of the training, you can appear for the surveyors exam which is conducted every three months by Insurance Institute of India. One subject called principle of insurance is common for all the departments whereas you can opt for any other two subjects like motor, fire, marine, miscellaneous, LOP etc. as per your qualifications. There is no compulsion to clear all the subjects in one go, rather you can clear the on-line exam one by one but sixty percent marks are required in each subject.

 

Survyor’s license application process

After clearing the exam, you become eligible to apply for the surveyor license from IRDA which is required to practice as surveyor & loss assessor  and before applying for the license you are also required to obtain the student membership of IIISLA i.e Indian institute of insurance syrveyors & loss assessors The license application is also made online through the IRDA website. And after obtaining the surveyor’s license you are ready to act s surveyor & loss assessor.

There are lot of job opportunities in private sector insurance co’s as there is big shortage of licensed people or you may prefer to work independently for various govt & pvt sector insurance companies. So you have get yourself empaneled with them & handle their claims of area of your specialization.

 

The independent insurance surveyors & loss assessors are paid survey fee on per case basis. The govt sector insurance co’s pay the GIPPSA approved fee schedule whereas the private insurance co’s have devised their own survey fee schedule.

 Insurance surveyor & loss assessors Survey Fee Schedule

 

The surveyor & loss assessors are regulated under IRDA surveyor regulation 2015 which were to be amended in year 2018 but the new regulations have been delayed somewhat & now are expected to be released in the year 2019. 

IRDA insurance Surveyor regulations 2015

IRDA insurance Surveyor regulations 2019 ( Proposed)

There are around 10000 thousand licensed insurance surveyor & loss assessor in India. Most of them are individual surveyor whereas few are licensed under corporate category. Here under is the list of surveyors with their allotted departments & category.

List of individual insurance surveyors & loss assessors

List of corporate surveyor & loss assessors in india