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WHAT DO I LEARN AND WHY ERMIS?

The Great Insurance Market

Enterprise Insurance is not understood, unless we understand the market and the players first.

For example, you don’t purchase and sell shares or invest in mutual funds, unless you know the authentic players in the market and have confidence in the people with whom you are dealing with.

 

Enterprise Risk Management (ERM)

Techniques de-mystified & Linkage with Insurance established

You might wonder how can you put your hands around such a big subject. Don’t worry-because:

  • Our 15 Hours Program brings the essence, carefully selected for you by experienced faculty in industry
  • You will find our program first familiarizes you with chief aspects of ERM. You then expand it in our 6 Months courses-e.g. with Supply Chain or Property or Project Insurance, to become a successful practitioner
  • Unlike other Institutes, we combine Insurance & ERM equitably to get a fairly balanced knowledge base, ready to go in Industry.

 

Insurance Solutions for business risks

  • There are various Insurance Solutions for protecting the businesses against various risks.
  • We help you pass through the solutions just like the way you understand a business from start-up stage going up to being a decent size corporate.
  • As we do not teach them in text book-style, but in a logical business sequence style, you understand the insurance solutions just like the way a business is understood to be made up of Supply Chain, Manufacturing, Finance, HR, Research and Market Development.
  • You learn these again by living through a single location Paint Manufacturer, becoming a bigger corporate with a chain of factories, over 5 years, explained in a short time, in a manner you can absorb. You will be living the risks faced by the Owner, as the Owner’s son or daughter and be finding solutions with your father one by one, in a memorable style!

 

8 Founding Principles of Insurance

  • These are not taught by ERMIS in an old text book style and you don’t memorize the principles and reproduce it in the exam. We make you “live” through these 8 principles through an interesting animation business story developed exclusively for learners like you.
  • You substantiate these grounding principles by living through a start up automobile service dealer becoming a chain of re-sellers, over 5 years. In the process, as an executive who was involved with the Owner from day-1, you live through errors you & business owner made, to become a seasoned risk manager!

 

Insurance Related Law & Regulation in India

  • We learnt 8 Founding Principles of Insurance right? We did not find legal compliance requirements in these 8 principles, why? As this is covered by the Marine Insurance Act (MIA), which is not taught by CA/ACMA/ACS or in Law Schools fully. There are passing references no doubt.
  • A full understanding of MIA is essential for a proper insurance management, whether you work as an Insurer or in a corporate or as a broker or as a surveyor, just as a police official cannot efficiently function without knowing law on crime thoroughly. We try to do justice for this through an interesting case study in supply chain for the same Auto dealer we introduced above
  • The above case study will also cover necessity to know chief aspects of customs regulations, fire regulations, building regulations, contract law or sale of goods law
  • We bring in one variable by another to ensure you climb this knowledge-staircase one-by-one.
  • Last but not the least, our discussion in this chapter hover around a memorable Hi-Fly Circus Infographics Poster to leave with you an imprint of how law controls your insurance policies & claims.

 

Claims Management

  • This is perhaps a back-bone of our program and is right in the middle of it. Many insurers and corporates have suffered due to mis-management on this front.
  • We help you learn the fundamentals through a memorable case animation and a class poster. We believe that this going to be a game-changer for you, if you choose insurance as a career.
  • We also take you through the process of claims management in a 360 degree style. It would help you to see this from corporate or Insurer or Surveyor or Broker view-points!
  • We introduce you to the habit of reading case laws by showing immense knowledge one could muster by looking at these stories.

 

Marine Insurance, Supply Chain by reading through a Policy

  • One problem all of us have is to read & understand the fine-print in the insurance policy.
  • We break this problem into its elements for you – through our unique “Policy Cheat Sheet” technique
  • In the process you understand how your company’s supply chain risks are addressed or not addressed in the policy.
  • Of course, you can easily extend this technique to other insurance policies like Property Insurances later

 

Getting a right Insurance cover

  • Our faculty is going to treat you with secrets of how to achieve this- Whether you are an experienced person or a beginner in insurance.
  • This is not in the syllabus of many colleges and that is where we bring our experience to share this technique
  • We have kept this in this course, as the concepts are commercially easy for you to grasp.
  • Our Case Study of direct-order-delivery mobile phone company leaves you with good taste of the simplicity in this chapter.

 

Broker Role

  • This concept of working with a broker to achieve your goals is in its infancy in India. The Western Markets are far ahead of us in this respect.
  • We share our insights in this area of Broker role through an interesting animation set in Middle East in respect of 2 Indian Companies with Indian business mind-set!
  • Our aim is to make you believe in a broker just as another partner in business!
  • One very important thing you could do as a broker is to help your Client prepare an Underwriting Report and we help you learn this through our “Swiss Family” tool for a supply chain oriented company!

 

Underwriting Principles

  • Again the concept is logical for a person with a business mindset. Still it is misunderstood you know why? We never thought from an Underwriter’s angle.
  • We help you through a case study for you to start appreciating what facts are to be considered while providing an insurance cover to a Paints Company.
  • We ask you to write a proposal to the paint manufacturer, accepting ot rejecting their proposal after considering all facts on the table!
  • No doubt you learn an eternal secret-how is your premium determined?
  • Wonder how can you grasp this, if you are young? It is no different from a decision to buying a Hotel Property for your family business! (Or simpler)

 

Renewal Of an Insurance Policy

  • Many assume renewal is simple, but it is not. We explain the steps in a detailed manner, to make you realise how simple this process is and make you wonder why people do not follow the steps
  • We help you learn the necessity to be closely involved with your businesses to make you succeed in a renewal
  • While understanding these steps, you also realise how the 360 degree approach we stress has made you ready to assume a role not only in risk management or insurance, but also in banking or procurement or logistics!

 

Wading through the Market to your goal

  • Our short term course is not complete, without you placing the insurance cover for a corporate with our lecturer hand-holding you!
  • That is how you put to effect, what you started the course with-the Great Insurance Market
  • You learn the ordeal of getting the cover fully bound for a major corporate and understand how this could be thrill-ride for brokers & insurers!

WHY SHOULD I LEARN SO MUCH ON INSURANCE?

The Insurance Market

  • The insurance market in India is growing at break-neck speed, both in Retail & Enterprise space. Though we concentrate on Enterprise insurance at ERMIS, Insurers, Enterprises and Brokers are in need of youngsters with General Insurance Market.
  • The General Insurance market consists of quite a number of players-namely, Specialist General Insurers, General Insurers, Brokers, Point-of-sales-agents, Surveyors, Loss Assessors, Third Party Administrators
  • We help you learn about different roles of these players fittingly, through a sequential event.
  • This knowledge helps you secure a good insurance job

 

Enterprise Risk Management (ERM)

  • Learning ERM without a doubt at high level is extremely important for today’s youth for growth in whatever field they want to enter.
  • This alone is the reason for you to enter our course!
  • Enterprise Risk Management (ERM) is now mandatory in almost all listed companies, meaning job opportunities
  • Compliance is however not up to mark, as there is a shortage of professionals.
  • Outside stake-holders hesitate to deal with any company, that does not have a formal risk management framework.
  • Many have wrong notion that Insurance is an independent function from risk management. In fact, Insurance, without a risk management framework, is a blind man’s alley
  • ERM framework is required even in Insurance Companies, as they assume a huge quantum of risks. For e.g ICICI Lombard and many international insurers have their ERM framework to manage their own insurance business risks
  • ERM practice is also not there today in Insurance Broking or Survey Companies, as they feel they are small for ERM framework; they have started now realizing they could not only help themselves, but their own clients with ERM capability.
  • Many International Broking houses like Marsh and Willis and Indian Insurers like ICICI Lombard and HDFC Ergo offer ERM consulting services for their clients-its demand is gathering heat!

 

Insurance Solutions for business risks

  • This is another high level clarity you should have, irrespective of field you are in, as risks are all pervasive in an enterprise.
  • Even when you are a researcher or newspaper editor or a musician, you need to know broadly what types of insurances you can take to protect yourself.
  • As we use a special technique of conveying our concepts, they will be etched in your memory.
  • If you decide to work in any Enterprise in commercial area or with an Insurer or as a broker, this knowledge would be a game-saver for you.

 

8 Founding Principles of Insurance

  • If you understand these 8 founding principles, you could predict when your claims will be rejected as an Insured and avoid those pitfalls.
  • Many times Insurance Company actions are not understood by many, except those who understood these fundamentals, which have a strong rationale. That’s when you become a capable Underwriter or Broker.
  • For e.g. A Paints manufacturer does not give full information of a risk to Insurers in the beginning-e.g. The fact that your Paints Company is doing a capacity expansion.
  • Insurers think they have understood the risk, after going through the incomplete set of information & give policy for Rs 80 L premium, without a knowledge of hidden project risks. Later in the policy year, there is a fire due to a weld-spark & Insurers refuse to pay. Paints Company blames insurers.
  • Do you realise that Insurers would have taken the Paint Company risk at only Rs 1.2 Cr premium, if they had known the hidden project risks ?
  • This problem would not have happened if the Paints Company Risk Manager had understood the principle.

 

Insurance Related Law & Regulation in India

  • Just like the 8 Founding Principles, knowledge of legal regulations ‘around’ insurance is very important for one to function in this field.
  • Many colleges teach just IRDA regulations and Insurance Act as Insurance Law. Many practitioners in Insurance today don’t realise reason why a claim is rejected, when fire NOC is not there for the property
  • You cannot take an insurance cover for an imported property or stock or project with imported materials, if you are not aware of customs regulations
  • Your policy may not pay your claims if you are not aware of the nuances of Marine Insurance Act.
  • Thus it is clear that you not only could land up a good job in insurance, but your market value will also be high.

 

Claims Management

  • Insurance Executives are generally ineffective in enterprises, if they do not know how to get a claim settled
  • Claim settlement requires certain skill-sets and we give you an eye-opener.
  • Our processes are explained through case study, which help you sustain your knowledge/skill levels long into your job.
  • A candidate with this skill is probably a game-changer for an employer, in search of a good candidate.

 

Marine Insurance & Supply Chain by reading through a Policy

  • It is current practice in the industry to have specialists, rather than generalists. Hence if you start showing special interest in this field, you have a greater job potential
  • Marine Insurance practice is fundamental for practicing any insurance as most of the insurance practices are governed by law & standard London Market clauses which are followed in India
  • Hence this field is a stepping stone for you to enter into other insurances like property or enter commercial functions like Supply Chain
  • As we help you gain a 360 degree viewing skills, you can be sure of being versatile in industry.

 

Getting a right Insurance cover

  • Many who practice insurance as brokers or as insurance managers or in Insurance companies lack adequate decision-making skills after putting many years of service. We help you not to end up like them
  • Finalising an Insurance cover for a corporate requires lot of skills, but are not difficult to acquire. We help you to set your eyes on them
  • To put it the other way, an error or deviation from a procedure could land an unskilled executive in jeopardy (e.g You missed out clearly defining when a risk commences in a marine policy)
  • The skill we help you get will stand you in good stead for other insurance risks like project or liabilities or property also.

 

Broker Role

  • Broker roles have matured quite a great deal in the UK or Australia or Canada or the USA. India has to have good brokers or else Insurance cannot grow
  • Many established brokers in India today are not able to expand due to lack of skilled manpower.
  • You, with this eye-opening session and option of taking our 6 months course, could be potentially employed in big broking companies.

 

Underwriting Principles

  • Good Underwriter-candidates are hard to come by, as this is not a skill learnt in a college like production engineering.
  • Skill acquisition rate is poor in the country, due to inaccessibility to good skilled teachers. We fill this gap
  • We have an extraordinary collection of case laws & books to supplement this & our classes

 

Renewal of an Insurance Policy

  • Renewals in most of the companies & by Insurers are done in a perfunctory style, without looking at what owners want or what insurers could give
  • In this matter, skill is not an issue, as much as lack of Standard Operating Procedures being followed. We fill this gap
  • Again, these processes and strategies are not taught in insurance colleges in the country.
  • Acquiring this extra conscience would help you to improve your worth to your employers

 

Wading through the Market to your goal

  • Many in Enterprises do not take pain to understand how this is done. As a result they suffer later when there are flaws (e.g. Co-Insurers keeping right to question a claim could land the Enterprise in trouble)
  • Brokers could effectively play a very important role here, improving job prospects & money earning opportunities.
  • Insurers and Underwriters stand to gain with people with this skill-set.
  • At ERMIS, we give you an eye-opening session to de-mystify this field for you.

WHAT IS IN IT FOR ME?

This answer is common for all the 12 topics you learn from us:

  1. You need to understand what are we trying to focus for you at ERMIS
  2. Acquire skills at a rate faster than your peers-risk management
  3. How is it possible-with specialised techniques –“DICE FALLS FAST” you do learn certain skills faster than through a 2 year PG course
  4. What is the catch? You cannot learn any skills like this-e.g you cannot learn Medicine or Engineering or Law or become a CA like this
  5. However certain skills which do not require too much of Science or Engineering can be acquired speedily, if you focus on them-e.g insurance of supply chain management or risk management.
  6. Why others have not copied this? These ideas are the result of 100 years of combined experience of our faculties. Further, insurance has not been popular among students till now.
  7. Will ERMIS get us jobs? Not after this 15 hours course, but we plan to take two bright students after the first batch of students and give further training with us over next 2 years with an employment promise.

OUR FACULTY

S Ramesh

S Ramesh CA, CMA, CS and ACII planned & executed massive insurance/risk management programs in India and abroad. He has 360° expertise in Finance, Insurance, Risk Management, Manufacturing, Projects, Supply Chain, Legal and Taxation.

A.W.J. (Tony) Fernandez

A.W.J. (Tony) Fernandez is a Risk Management Consultant, Consulting Average Adjuster, Techno-Legal Interlocutor & Professor – Maritime & Insurance Law – Gujarat National Law University.

Anuradha More

Anuradha More, has done Masters in Commerce, Bachelor of Law, Diploma in Marine & Health Insurance from Insurance Institute of India (III), Fellowship from III, Diploma from CII, UK. She has 25 years experience in United India Insurance.

 

Rajaram Mohan

Rajaram Mohan, is a CA, Certified Insurance Anti-Fraud Professional, Fellow of Insurance Institute of India and a Member of Chartered Institute Of Arbitration, UK. Rajaram had achieved several milestones in his over 40 years of industrial experience – such as CFO of GAPCO (RIL)-East Africa, GST roll-out in Reliance Group’s Systems and Smart Digital Transformation in RIL.

COURSE DETAILS

OFFER :

Students upgrading to the 6 month (90 hours) course, will get a discount of Rs. 5000.

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FAQs

What is the mode of classes? Online or In-class?

All our programs are In-class.

Our Faculty are prominent industry experts.
 
S Ramesh
CA, CMA, CS and ACII planned & executed massive insurance/risk management programs in India and abroad. He has 360° expertise in Finance, Insurance, Risk Management, Manufacturing, Projects, Supply Chain, Legal and Taxation.
 
A.W.J. (Tony) Fernandez
A.W.J. (Tony) Fernandez is a Risk Management Consultant, Consulting Average Adjuster, Techno-Legal Interlocutor & Professor – Maritime & Insurance Law – Gujarat National Law University.
 
Anuradha More
Anuradha More, has done Masters in Commerce, Bachelor of Law, Diploma in Marine & Health Insurance from Insurance Institute of India (III), Fellowship from III, Diploma from CII, UK. She has 25 years’ experience in United India Insurance.
 
Rajaram Mohan
Rajaram Mohan, is a CA, Certified Insurance Anti-Fraud Professional, Fellow of Insurance Institute of India and a Member of Chartered Institute Of Arbitration, UK. Rajaram had achieved several milestones in his over 40 years of industrial experience – such as CFO of GAPCO (RIL)-East Africa, GST roll-out in Reliance Group’s Systems and Smart Digital Transformation in RIL.

₹10,000. However, ₹ 5,000 will be given credit if you choose our “Movers to Makers” 6 months course. The usual fee for this course is ₹ 75,000.

Two of the participants will be handpicked based on faculty’s observation and will be given intensive training to make them land in Insurance and Insurance broking Companies. Our parent company Proclaim Insurance Surveyors and Loss Assessors Pvt Ltd is also one of the recruiters.

EXPERT ENDORSEMENTS

EXEMPLARY feedback from industry leaders

There are hardly two-three enterprise Insurance Education institutes in the country. I know for a fact that all the students from these institutes get absorbed in the Industry. The ERMIS College started by Mr. Ramesh and Mr. A.W.J. Fernandez (Tony) proposes to go one step further by making the course more attractive for easier learning and application oriented: i.e. how to write an Insurance policy, Survey report, Underwriting report etc. They teach Insurance with their "360 Degree familiarity"- in the process the students learn Banking, Supply Chain and Customs along with all gamut of Insurance. Students become more Application oriented in the field. It will not be an exaggeration that the students taught by ERMIS even get to better job positions in insurance industry in medium term. Mr.Fernandez is the Dronacharya of Marine Insurance and he is a great asset for ERMIS.
Nagarajan Girishankar
Mr. Nagarajan Girishankar
Director at Pioneer Insurance and Reinsurance Brokers Pvt Ltd
ERMIS, an Initiative of Proclaim Energy Pvt Ltd has started Enterprise Risk Management & Insurance Courses under the leadership of Sh. S. Ramesh. I have worked under the leadership of Sh Ramesh in India and abroad on several big projects and was able to resolve tough risk management/insurance issues, such as subrogation required by Owners under the BIMCO C/P, Delay Start Up cover and many more. I can assure that the course will impart the best knowledge possible on enterprise insurance, given the depth of ERMIS’ team. I can foresee that its students will get employed in corporates in Insurance & Risk management areas easily. Corporates struggle due to lack of adequate knowledge & ability in this field and the proposed courses by ERMIS will fill this gap for them.
Kailash Pathak
Mr. Kailash Pathak
Head of Supply Chain Management for Staples Business, Reliance Retail Limited
I am happy to be associated with ERMIS which wants to significantly improve the Enterprise Risk & Insurance education, compared to other courses on Insurance in India. I see this proposed course to be a stepping stone for future Insurance leaders, as ERMIS wants to give 360-degree learning experience. Coupled with good practical knowledge in policy writing, survey reports & underwriting reports, the candidates will have an edge, even as entrants in industry.
R Balasundaram
Mr. R Balasundaram
Senior Advisor (Corporate Risk Broking) Willis Towers Watson and Secretary General, Insurance Brokers Association
I know Mr. S. Ramesh and Mr Tony Fernandez for a very long time in my profession as a Maritime & Insurance Lawyer for Reliance Industries Limited. Having been trained at Lloyd’s Maritime Academy, England and handled all types of Maritime and Marine insurance complex claims issues, I am of the view that ERMIS Institution's initiative to teach Enterprise Risk Management & Insurance is not only timely but also very good initiative as corporate insurance in India lacks good calibre professionals. I observe from ERMIS's course plan that they cover Marine Hull, Cargo, Projects, Property, Liability & Off-shore Operations extensively. I am yet tosee a similar course plan with any other Institution in India. Both Mr. S. Ramesh & Mr. Tony Fernandez are fully capable to deliver these courses to create a good number of Enterprise Insurance professionals in India. I would also recommend this to many of my fellow lawyers, maritime Arbitrators who are starting their career to meet Insurance Industry's increasing demand.
Niranjan Chakraborty
Mr. Niranjan Chakraborty
Maritime & Insurance Lawyer and Maritime Arbitrator Mumbai
I know Mr. S.Ramesh and his capabilities for a long time. This course for two years he has planned through ERMIS is indeed very promising. It does give very good opportunity for the youth entering industry in Insurance. There is a lack of capable Marine Insurance people not only in India, even world-wide. Therefore, I see a great potential for people getting qualified after 2 years from the 2 Years PGDM Course by ERMIS to get good jobs in Insurance Industry. These Youth will also have overseas job opportunities, as the course syllabus covers international exposure quite a great deal.
Narendranath B Menon
Mr. Narendranath B Menon
Marine & Energy Loss Adjuster Marine Consultant & Insurance Loss Adjustor, N.B Menon & Associates, Ex-Director J.B Boda Group
Proclaim Insurance Surveyors and Loss Assessors Private Limited has associated with Mr. S. Ramesh to create ERMIS Institution. The Institution is formed with a focus to impart outstanding Risk Management & Insurance education to interested participants. The Institute programs are structured around imparting practical knowledge to graduates to ensure real and specific industry knowledge is provided, to professionals like Lawyers, Engineers and Chartered Accountants, amongst other professions and skill sets. It is common knowledge that there is lack of education and skill development within the Insurance Section, especially with respect to Enterprise Risk Management and Insurance Practices, within India and globally. This is the main driver for the courses that are being structured and considered.
Govinder Kapoor
Mr. Govinder Kapoor
Chairman, Proclaim Insurance Surveyors and Loss Assessors Pvt. Ltd

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