For the first time across the world, an institute will be set up for the sole purpose of imparting the very rare knowledge of assessing a damage and recommending an insurance pay-out for the same – otherwise known as insurance surveying.
Insurance surveyors and loss assessors – as many insurance claimants would know by now – are at the front-line of a rapidly expanding finance sector in the country. It’s the insurance surveyor who is primarily responsible for assessing and valuating the damage for which an insurance claim has been filed.
Till now, there was no formal institute that trained people for this vocation, if Mahendra Dhruva, National President of the Institute of Insurance Surveyors and Adjusters (IISA), is to believed.
It is the 45-year old IISA, which was till now primarily involved in surveying of assets for insurance claims, that would soon be foraying full-time into educational activities. The decision to convert IISA’s role came about after it became apparent that much of its duties regarding the welfare of insurance surveyors would be taken over by the recently-formed Indian Institute of Insurance Surveyors and Loss Assessors.
Mumbai Mirror had reported in its issue dated June 24, 2007 issue the formation of this new body which was set up on the recommendations of a committee formed by the Central Government for making the sector more organised and, possibly, even awarding surveyors and loss assessors the ‘chartered’ status.
“Right now, there are no institutes in the world that cater to the education of surveyors. This is the first time that such an institute will be set up,” Druva told Mumbai Mirror.
MUMBAI WILL HAVE THE ADMINISTRATIVE OFFICE
According to Druva, the new educational institute would be called ‘National Academy of Insurance Surveyors’ and would have four centres to start with. “These centres would come up at Rajasthan, Gujarat, Karnataka and West Bengal. The main administrative office would be based in Mumbai,” he said.
Dhruva claimed that their body has also received support from insurance surveyors based all across the world. “We have received letters of support from surveyors based in Pakistan, Nepal, Sri Lanka and Bangladesh. They would also be sending in their surveyors to India for training,” he said.
The course would be a two-year one divided into four semesters. “A lot of emphasis would be given to field training. We are still working on the fee structure. The money received would go towards the welfare of the insurance surveyors, particularly for their own medical insurance,” he said.
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