General Insurance Underwriting
Insurance Institute of India: Associate Examination
Compulsory for the General stream Associate. Covers underwriting principles, risk assessment, rating, and commercial lines underwriting.
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IC-45 exam at a glance
| Level | Associateship, compulsory for non-life candidates |
|---|---|
| Credit points | 30 |
| Exam | 2 hours, online, multiple choice |
| Pass mark | 60% (75% for distinction) |
Across 12 chapters, every question reviewed and exam-aligned.
Tap a chapter to see what it covers.
1Introduction to Underwriting50 questions50
General insurance underwriting: meaning, concept, risk assessment, hazards and the main stages of underwriting.
2Methodology and Procedures of Underwriting50 questions50
Underwriting methods: underwriter skills, risk identification, loss exposures, and new and renewal business procedures.
3Principles of Rate Making50 questions50
Rate making principles: what ratemaking is, rates and premiums, underwriting losses and pricing objectives.
4Rating Approaches and Pricing Methods50 questions50
Rating approaches and pricing methods: rate adequacy, loss forecasting and factors in setting premium rates.
5IRDA File and Use Guidelines25 questions25
IRDAI File and Use Guidelines 2016: product filing rules, justifying rates and approval before sale.
6Applications of File and Use25 questions25
File and Use in practice: government, group and long term product classes, and filing procedures.
7Tools of Underwriting25 questions25
Underwriting tools: risk management process, risk inspection, selection, PML and EML, retention and reinsurance.
8Types of Policies25 questions25
Types of non-life policies: property, loss of profit, liability, miscellaneous and health insurance covers.
9Underwriting Profitability and Reunderwriting Strategies25 questions25
Underwriting profitability: profit and loss, ratios, re-underwriting, loss cause analysis and underwriting audits.
10Protection of Policyholders Interests25 questions25
IRDAI Protection of Policyholders' Interests Regulations 2017: objectives, disclosures, insurer duties and grievance redressal.
11Research and Development in Underwriting Rating and Product Innovation25 questions25
Research and innovation in underwriting: new technologies, emerging risks, product innovation and future challenges.
12IT Applications in Underwriting25 questions25
IT in underwriting: globalisation, competition, regulatory needs and how technology improves underwriting.
Draws from all 400 questions across every chapter, so no two attempts are the same.
IC-45: frequently asked questions
What does IC-45 cover?
IC-45 covers general insurance underwriting: underwriting methods and tools, rate making and pricing, IRDAI file and use guidelines, types of policies, underwriting profitability, policyholder protection and IT in underwriting.
Is IC-45 compulsory?
Yes, for non-life candidates. IC-45 is a compulsory Associateship paper worth 30 credit points. Life candidates take IC-22 instead.
What is the pass mark for IC-45?
60%. A score of 75% or more is a pass with distinction.
How long is the IC-45 exam?
2 hours. It is an online exam with multiple choice questions.
When will I know my result?
You see your score right after the online exam. The formal result usually follows within about a month.
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