1

1

| Back | Home |   

  BUSINESS & FINANCE  

 


Certified Risk & Insurance Manager - CRIM

Body of Knowledge
The C-RIM Approch
Focus Areas
For Whom
Skills to Succeed
Code of Ethics

The Regular C-RIM Program (3 years)
The Accelerated C-RIM Program (2 years)

Body of Knowledge

ICRIM visualizes the body of knowledge of the C-RIM program as covering three interrelated areas

The core body of knowledge: Specialized fields and skills which are essential to business and its orderly functioning;

The evolving concepts, techniques and strategies: Debated and tested by researchers and practitioners but not yet understood well enough to be included in the core areas

The frontiers: The newest ideas, speculative and often controversial, but offering the promise of practical insights into the process of analysis and decision-making. Ideas enter the realm of knowledge at the frontiers and gradually as they are tested and refined, move toward the core body of knowledge.

Top

The C-RIM Approch

The C-RIM program follows six distinctive but interrelated approaches

  • Theoretical Studies aimed at improving candidatesí understanding of certain fundamental phenomena and relationships underlying the changing world.
  • Case Studies linking the theoretical studies to the practical problems faced by the insurance professionals.
  • Practical Exposure to industry practices takes place through a variety of activities like project work, management development programs, seminars, conventions etc.,
  • Global perspective to business by encouraging the candidates to appreciate and get exposed to the international business environment and its practices.
  • E-business Framework and IT Orientation focuses on information technology and its linkage with insurance so that they can deliver services in a virtual world.
  • Ethical Focus aimed at inculcating in the candidates an ethical approach in their professional pursuits and a sense of personal, corporate and social responsibilities.

Top

Focus Areas

The C-RIM program focuses on three areas:

  • Domain Knowledge and Skills in Risk and Insurance: The C-RIM program focuses on various dimensions of risk and presents a spectrum of managerial solutions to deal with risk highlighting the role and importance of insurance.
  • Management Practices and Operational Excellence: The program explores the best managerial practices, in terms of strategic and operational excellence for the benefit of upcoming professionals. They will also be given expert level knowledge in managing the finances of insurance companies.
  • Information Technology and E- Business: Provides the necessary knowledge and skills required for managing business on the internet and delivering services electronically to the customers (in terms of selling policies on line, settling claims and processing of payments and receipts online).
  • Integration: The uniqueness of the C-RIM Program lies in its effective integration of all the three focus areas which are going to set new benchmarks in the insurance industr

Top

For Whom

The C-RIM program will be suitable for:

  • Finance, accounting and management professionals like CFAs, CTMs, CAs, CWAs, CSs, and MBAs who are seeking careers in the insurance industry.
  • Professionals already employed in the insurance industry, and AIIIs/FIIIs who want to upgrade their skills and knowledge in the areas of Risk and insurance Management.
  • Professionals working in the area of investments who wish to expand their scope to include the insurance fund investments.
  • Entrepreneurs who wish to gain in-depth knowledge about the insurance industry;
  • Students pursuing full-time postgraduate programs in commerce, economics, mathematics, statistics and management.
  • Other individuals who are connected with or working in the insurance industry, such as consultants, accountants, actuaries, lawyers, doctors, engineers, administrators etc.

Top

 

Skills to Succeed

The individuals who want to succeed in this industry should have the following attributes and skills:

  • Quest for new knowledge and skills
  • Determination and effort to learn
  • Analytical mind
  • Negotiation and interpersonal skills
  • Acumen for marketing and management

Top

Code of Ethics

The Institute of Certified Risk & Insurance Managers, (ICRIM), has formulated a Code of Ethics and Standards of Professional Conduct for its members. All members of ICRIM are required to strictly adhere to the Code of Ethics and Standards of Professional Conduct as laid down by ICRIM from time to time. The following are the highlights of the Code of Ethics and Standards of Professional Conduct prescribed by ICRIM:

Code of Ethics

  • Practice the Risk and Insurance Management in a professional and ethical manner and maintain objectivity and impartiality toward one and all.
  • Place the interest of clients, prospective clients and employers ahead of their own and enhance public confidence in the profession.
  • Maintain confidentiality of the information acquired during the course of professional activities and refrain from disclosing the information unless otherwise instructed by statutory authorities/law.
  • Conduct themselves with integrity and dignity in their dealings with the public, clients, customers, employers, employees, professionals and fellow treasury managers and maintain high standards of personal conduct.
  • Act with competence and strive to maintain and improve their competence and that of other members in the profession and accept only those assignments that they are qualified to undertake and will be able to satisfactorily carry out.
  • Take proper care and exercise independent professional judgment in all their professional activities.

Standards of Professional Conduct:

  • Maintain required knowledge, skills and competence.
  • Prohibition against assisting legal and ethical violations.
  • Prohibition against the use of material non-public information.
  • Exercise proper control over subordinates.
  • Prepare reports, studies and offer recommendations and services in a diligent and professional manner.
  • Prohibition against plagiarism.
  • Prohibition against misrepresentation of services.
  • Fair dealing with customers and clients.
  • Priority of professional transactions over personal transactions.
  • Disclosure of material conflicts.
  • Compensation charged for services performed should be reasonable.
  • Disclosure of referral fee.
  • Duty to seek permission from employer for undertaking independent practice.
  • To preserve confidentiality of information sought.
  • Maintain independence and objectivity in relationships and contracts.
  • Use of professional designation in a dignified and judicious manner.
  • No publicity to his/her services in a derogatory manner.
  • Should not commit criminal acts nor be convicted for dishonesty, fraud, deceit or misrepresentation.
  • ICRIM has adopted a set of rules and regulations for effective enforcement of the Code of Ethics and Standards of Professional Conduct.

ICRIM has adopted a set of rules and regulations for effective enforcement of the Code of Ethics and Standards of Professional Conduct.

The C-RIM Program is offered on a distance learning basis through study and examinations in the following formats:

Top

 

The Regular C-RIM Program (3 years)

Eligibility

  • Graduates (from any discipline).
  • Candidates in their final year Bachelorís Degree Program who are expecting the results within three months from the date of submitting the application to ICRIM are also eligible. Such candidates will be enrolled provisionally in the C-RIM Program.

Program Structure

The C-RIM Program is divided into three levels

Foundation Level
After completing the Foundation Level, the candidates will be admitted to the Intermediate Level. Upon completion of the Intermediate Level, they will be admitted to the Final Level. The candidates enrolled in the Regular C-RIM Program will be required to study and complete the three levels in a sequential manner.
Intermediate Level
Final Level

Duration

The Regular C-RIM program can be completed in a period of three years.

Eligibility for Examinations

Candidates on eligible to appear for the examinations in the following pattern:

Foundation Level

  • Group A after 3 months from date of enrollment.
  • Group B after 3 months from the date of completion of Group A.

    Note: Candidates are required to appear for the Groups in a sequential order.

Intermediate Level

  • Group C after 6 months from the date of completion of Foundation Level.
  • Group D after 3 months from the date of completion of Group C.
  • Group E after 3 months from the date of completion of Group D.
  • Group F after 3 months from the date of completion of Group E

    Note: Candidates are required to appear for the Groups in a sequential order.

Final Level

  • Group G after 6 months from the date of completion of Intermediate Level.
  • Group H after 3 months from the date of completion of Group G.
  • Group I after 3 months from the date of completion of Group H.
  • Group J after 3 months from the date of completion of Group I.

    Note:Candidates are required to appear for the Groups in a sequential order.

Top

 

The Accelerated C-RIM Program (2 years)

Eligibility

  • CFAs/CAs/CWAs/CSs.
  • Candidates with PG qualifications like PGDBA/MBA/MMS/MFC/MIB/MBE/MCom etc.
  • Graduates with 60% and above marks.

The following categories of candidates are also eligible to enroll into the Accelerated C-RIM Program, provided they are graduates.

  • Associates/Fellows of Insurance Institute of India.
  • Associates/Fellows of Actuarial Society of India and those qualified from similar institutions worldwide.
  • Associates/Fellows of Chartered Insurance Institute, UK and professionals qualified from similar institutions world-wide.
  • Officers working in Insurance Regulatory and Development Authority (IRDA)
  • Candidates who passed the Pre-recruitment examination in Life/General Insurance prescribed by IRDA
  • Candidates who successfully completed CFA Level I (Diploma in Business Finance) examination of ICFAI, the Intermediate examinations of the Institute of Chartered Accountants of India (ICAI), the Institute of Cost and Works Accountants of India (ICWAI), the Institute of Company Secretaries of India (ICSI) or the CAIIB Part I examination of the Indian Institute of Bankers (IIB)
  • Full-time students of the PGDBA/MBA/MMS/MFC/MIB/MBE/MCom programs with Business Schools/University Departments, IIMs and other reputed institutions.
  • Candidates pursuing MBA (by correspondence) with the Indira Gandhi National Open University (IGNOU) and other Universities/All India Management Association (AIMA)/Indian Institute of Bankers/Icfaian Council for Open and Distance Education.
  • Bankers with CAIIB qualification.
  • Directly Recruited Officers in Banks and Financial Institutions.
  • Officers in Insurance companies having a minimum of 3 years experience.
  • Class I officers in Central and State Government Services.
  • Executives having a minimum of 3 years experience at managerial level.
  • Faculty members having a minimum of 3 years teaching experience at postgraduate level.

Duration

The Accelerated C-RIM Program may be completed in a period of 2 years through study and examinations.

Eligibility for Examinations

Candidates of the Accelerated C-RIM Program are eligible for taking the examinations in the following pattern:

Foundation Level

  • Group A after 3 months from the date of enrollment.
  • Group B after 3 months from the date of completion of Group A.

Intermediate Level

  • Group C after 3 months from the date of completion of Foundation Level.
  • Group D after 3 months from the date of completion of Group C.
  • Group E and F after 3 months from the date of completion of Group D.

Final Level

  • Group G after 3 months from the date of completion of Intermediate Level.
  • Group H and I after 3 months from the date of completion of Group G.
  • Group J after 3 months from the date of completion of Group H and I.
  • Candidates are required to appear for the Groups in a sequential order.

Further details are given in the Candidates Regulations.

A Comparative Perspective

Regular C-RIM
Accelerated C-RIM
3 Years 2 Years (saving of 1 year)
All graduates All candidates should have specified professional qualifications and/or experience (with a bachelor's degree) or they should be first class graduates

Note: All the rules and regulations relevant to the Regular C-RIM Program stated elsewhere in the site are also applicable to the Accelerated C-RIM Program, except where stated otherwise.

Top