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| CA Sudheer Kumar Kulshreshtha, FCA Member ship no 400327 |
| As the globalization is impacting the business environment around us so the understanding of the fundamental tenets of the Risk Management has become order of the day and imperative for Accounts Professionals In this context to address the need, Institute has introduced this DIRM course. The course highlights that it is not possible to avoid the risk completely, but by exercising due care in selection of Insurance policy and coverage of assets mitigation of Risk can be attempted. There are other ways also to control the risk but Insurance is a specialized method and involves recurring expenditure of huge amounts. This selection of Insurance policies and Assets coverage requires thorough understanding of principles of Insurance, and I can firmly say that this aspect has been covered aptly in the course curriculum. By completing the course I feel better informed in the area of Insurance and Risk Management. |
| CA. Surendra Tiwari B.Com, ACA, AIII, DIRM |
Why I decided to join the DIRM? : I was looking for pursuing some course in Insurance for better understanding the subject as well as for future career growth. Being employed in Insurance Industry; DIRM was an obvious choice for a Chartered Accountant. In fact, after going through the Insurance courses available in our country by different Institutions during the year 2006, I decided on this course based on following parameters:
The Orientation course: The last leg, which eventually proved to be the best part of the course for me, where all the passed outs were to attend One week’s orientation course. Not only this opportunity, provided the platform to interact with few best brains of the Industry but also a chance for networking with fellow chartered accountants from different parts of the country. All important topics of the course were presented and Class Room discussions were very fruitful. The Faculties were experts from the Industry whose personal experiences were adding a whole new dimension to the entire learning. Faculties included many CAs also who are already working as Surveyor, Auditor, Broker, Sr. Management Execs of Insurance companies etc. DIRM proved to be a good career decision for me: Though I had completed my Associateship in Insurance from Insurance Institute of India, the premier institute for Insurance Education, still I was benefited tremendously from DIRM course. Particularly, the subject of Re-Insurance and Risk Management were well covered and helped me to gain the Domain expertise in these topics as well. As mentioned earlier, the most enriching experience was during the Orientation course, the discussions with the industry experts were worth learning and in the process I made few professional friends. The course has helped me in my professional developments as well. In particular, it has changed my approach towards Risk and helped me in its Identification, evaluation & adopting suitable measures for mitigation which I tried in my current job and I am sure my organization has also gained out of it. This course has helped me in enhancing my employability and will certainly enable me in my future career growth. |
| CA. Dilip Kumar Saha Kolkatta |
| Before being qualified under DIRM , concept of re-insurance remained as a mere heard of concept without knowing much about it’s all the fundamental bases. After the qualification it means something of relevance when insurance companies particularly private companies chase for the reports or the status thereupon at the month end. This is the ultimate requirement of re-insurers who remain in the back but do share the loss at agreed % as per the re-insurance terms. In fact risk is shared globally and insurance companies playing at the frontal window and the re-insurance companies all over world playing in the back under the set regulations of IRDA. |
| CA AMULYA KUMAR TRIPATHY MEMEBRSHIP NO 51941 |
| After witnessing the death and destruction scenery of Super Cyclone in Orissa 1999 and devastating earthquake in Gujrat in 2000 ,the people of India realized the importance of protection of life and non life assets thorough insurance. Realizing the poor respond of public sector insurance company ,the Govt of India implemented the IRDA Act of 1999 based on the Malhotra Committee report ending the monopoly of nationlised insurance company and paved the way for the entry of Indian private players alliance with global insurance players to the Indian Insurance Industries Responding to the clarion call of the nation for the management of insurance risk ,our Institute which is branded as “ Partner in Nation Building ” immediately designed a course known as “ Diploma in Insurance and Risk Management” (DIRM) to empower our member to understand the complexities of insurance law ,technical aspects of insurance and risk management ,strategic business planning of insurance business with a promise to serve the nation as whole with extra care to rural and middle class people . A Chartered Accountant enriched with insurance knowledge through the DIRM course and training compounded with accounting skill , can make himself a world class service provider in the field of insurance industry covering the area like insurance broking, underwriting ,claims management , insurance litigation ,reinsurance ,strategic service , third party administrators ,claims audit and insurance marketing across the world . I am grateful to my Institute for such endeavour who offered me the qualification of DIRM in the year 2004 ( 1st Batch) which open further opportunity for CA to play a dynamic and leadership role in the world of Insurance industry |
| CA. Rajesh Bapna |
| I would like to say that, being practicing chartered accountant, I had been working as Insurance Surveyor & Loss Assessor with general insurance companies. I observed that I was not able to fulfill the aspirations of insurance industry from the profession and with little knowledge of this industry. After doing post qualification course in DIRM I found that I have not only covered but superseded the contemporary & comprehensive knowledge and expertise impart by apex insurance institutes for last many years. DIRM has placed us in the front line of surveyors and loss assessors and insurance companies have started to depute me for more bigger and technical losses also. Now-a-days some insurance brokers have also approached me for the risk management audit of their corporate clients. In nutshell I would like to say after instilling expertise by DIRM new avenues have opened-up in this vast and lucrative field of insurance. |
| CA. K.S.SRIDHAR |
| Earlier, though I had the knowledge of the subject of insurance it was not full. After joining the DIRM course I became aware of all aspects of insurance and how it could help the business environment. Further the aspect of handling the risk environment covered in the syllabus, in business was an added advantage. Though insurance is one of the tools of risk management the course offered a detailed insight into the same which has helped us to advice our clients better in minimizing the risks to which they are exposed. As such our advise to them has been fruitful and has increased our revenue also. We thank the Institute in conceptualizing and implementing this course which has really helped us in our profession. |
| CA. Praveen Aggarwal |
| After doing DIRM course, I have felt changes in my life in respect of risk management. I have learned that risk management is nothing but the system of managing the risks, required to avoid harmful events whether in life, profession, business or any other walks of life. I have started planning, well in advance to avoid losses or unfavorable situations which I can predict and where I know the unfavorable outcome; I opt for transfer of risks by taking suitable insurance coverage for the same. There are other advantages of pursuing the DIRM course, which I learned first time in my life but the main object of this course as per my perception is to make the members aware about the various terminologies being used in insurance and risk management so that we can understand the need of insurance and risk management in our life, house, office, society, city and country. A little bit knowledge is a dangerous thing “NEEM HAKIM KHATRAIYE JAAN”. For many of us, Insurance means Life Insurance policy, because our parents bought it for us, Motar insurance policy as it is compulsory under law. It was just a Policy Bond kept in file, we never read it, but after qualified DIRM course, I have started reading and understanding the contents written in the various Insurance Policy Bonds with intentions to how they can save us at various points of time. In my professional life, I have understood the need of Insurance and Risk management for my clients for taking appropriate policies, which suits need of their business, whether Fire, Burglary, Marine or any other. This has really changed my professional assignments. Now my main focus of advices has shifted to manage the affairs in such a way that bad situation never comes. Therefore, now I advise my clients to read the Insurance Proposal Form completely before signing any Policy and never leave even a single question blank or unanswered. At last I can say that in our profession, knowledge is power and by this power, we earn money. It means we have to store more knowledge in our brain then only we can be well equipped in this changing environment first to sustain and then to earn. |