IRDAI Recruitment 2024 has been released 49 Assistant Manager vacancies in the IRDAI Assistant Manager Recruitment 2024 is as follows:
Vacancies in IRDAI Exam 2024
Category-wise Vacancy Distribution
| Name of the Post | Unreserved | Economically Weaker Sections (EWSs) | Other Backward Classes (OBC) | Scheduled Castes (SC) | Scheduled Tribes (ST) | Total |
|---|---|---|---|---|---|---|
| Assistant Manager | 21 | 4 | 12 | 8 | 4 | 49 |
Stream-wise Vacancy Distribution
| Stream | Actuarial | Law | Finance | IT | Research | Generalist |
|---|---|---|---|---|---|---|
| Vacancies | 5 | 5 | 5 | 5 | 5 | 24 |
This breakdown reflects the total 49 vacancies available across different streams and categories.
Apply Link: IRDAI Assistant Manager Recruitment 2024 Apply Now
IRDAI Assistant Manager Exam Pattern 2024 and Cut off
IRDAI Assistant Manager Exam Pattern 2024 is structured to evaluate the competencies of the candidates in areas important for the role. It consists of three stages:’
- Phase 1: Preliminary Exam
- Phase 2: Mains Exam
- Phase 3: Interview
Phase 1:– On-line Preliminary Examination (Objective Type)
This phase features multiple-choice questions from four sections: Reasoning, English Language, Quantitative Aptitude, and General Awareness.
The selection process shall be as follows:
This is a qualifying examination to be eligible for Phase II – Descriptive Examination. Through this, 6 candidates for Actuarial, Finance, Law, IT, Research streams and Generalist stream shall be shortlisted for Phase II – Descriptive Examination as per standards to be decided by IRDAI (approximately 20 times the number of vacancies subject to availability). Marks secured in the Phase I – On-line Preliminary Examination will not count for interview or final selection.
Key Points:
- Negative marking of 0.25 marks for every wrong answer.
- This is a qualifying exam, meaning scores will not be counted in the final merit.
| Section | No. of Questions | Max. Marks | Duration |
|---|---|---|---|
| Reasoning | 40 | 40 | 90 minutes (Composite time) |
| Quantitative Aptitude | 40 | 40 | |
| English Language | 40 | 40 | |
| General Awareness | 40 | 40 | |
| Total | 160 | 160 |
Phase I Cutoff 2023 IRDAI Exam: IRDAI Assistant Manger cut-off Marks
| For All Stream incl. General | UR/GEN | EWS | OBC | SC | ST | PwBD |
| Total Marks Scored | 87.26 | 63.75 | 80.75 | 70.25 | 47.75 | 39.50 |
| Cut-off percent in each paper | (25%) | (25%) | (25%) | (25%) | (23.75%) | (13.75%) |
Phase 2: Pattern for IRDAI exam (Subjective): Mains
The Mains exam consists of descriptive questions on various subjects, with answers to be written on answer sheets. The marks obtained in this phase will contribute to the final merit list.
| Paper | Subject | Marks | Duration |
|---|---|---|---|
| Paper I | English | 100 | 60 minutes |
| Paper II | Economic and Social Issues Impacting Insurance | 100 | 60 minutes |
| Paper III | Insurance and Management | 100 | 60 minutes |
Type of Paper:
Descriptive (Questions will appear on screen and answers have to be written on answer sheets)
Cutoff for Phase II 2023 IRDAI exam: IRDAI Assistant Manager previous years cut-off marks
| For All Stream incl. General | UR/GEN | EWS | OBC | SC | ST | PwBD |
| Total Marks Scored (out of 300) | 183 | 168 | 171 | 157 | 150 | 146 |
| Cut-off percent | 61% | 56% | 57% | 52.33% | 50% | 48.67% |
Phase 3: Interview
Interview Weightage 15%
Candidates shortlisted from the Mains exam will face an interview to assess their skills and communication abilities. The interview marks will be added to the final merit list.
| For All Stream incl. General | UR/GEN | EWS | OBC | SC | ST | PwBD |
| Combined final Score (out of 100) | 74.12 | 64.37 | 67.89 | 66.58 | 65.35 | 63.11 |
IRDAI Assistant Manager Syllabus 2024
The syllabus varies across both phases of the exam.
- Phase 1: Reasoning, English, Quantitative Aptitude, and General Awareness.
- Phase 2: Focuses on Essay & Precis Writing, Economic and Social Issues impacting insurance, and Insurance & Management topics.
Candidates must prepare thoroughly for both phases to maximize their chances of success in the IRDAI Assistant Manager recruitment process.
Syllabus for Phase 2 of IRDAI Exam
Syllabus for Phase II – Descriptive Examination
1. Paper I – English
a) Essay;
b) Precis writing;
c) Comprehension and Business/Office Correspondence.
2. Paper II – Economic and Social issues impacting insurance
a) Economic Growth, business cycles and insurance penetration, impact of age structure on economy, application of utility theory to insurance premium setting, macroeconomic factors including catastrophes and pandemics that may impact insurers and insurance markets;
b) Financial markets, Financial Institutions and financial services integration and risks arising from interconnectedness; systemic risk and concentration risk;
c) Economic capital and risk based capital requirements, economic impact of risk transfer arrangements including reinsurance, contribution of Insurance sector to sustainable and responsible development of economy, Insurance Investments in Infrastructure sector;
d) Economic reforms in India leading to Insurance sector reforms, Insurance regulation – financial and market conduct regulations, functions of IRDAI, role of an Actuary, de-tariffing in India, motor business and Indian experience, changing Insurance Regulations/Laws and FSLRC;
e) Social structure in India, Insurance in rural and social sectors and obligations of Insurers thereto, Indian Micro-Insurance experience, Social security laws and implementation thereof. RSBY – Health insurance scheme for Below Poverty Line (BPL) families.
3. Paper III – Insurance and Management
Part 1 – Insurance
a) History of Indian Insurance, principles of Insurance;
b) Risk and uncertainty, pooling and diversification of risk, Indemnity and Insurable interest;
c) Legal foundations of Insurance, basics in Group/Health Insurance/Pensions; Intermediation: role in mobilising savings, evolution of various types and Bancassurance in India;
d) Functions performed by Insurers: Product design, pricing, distribution, underwriting, claims, Investment and Reinsurance;
e) Insurance lines and products: Property-Liability, Life Insurance and Annuities and Health Insurance; Liability risks and Insurance, valuation and Solvency requirements, Specialist Insurance lines in India – Agricultural and Export Credit Guarantee; Reinsurance, GIC of India, obligatory cessions and retention of risk within the Country.
Part 2 – Management
a) Its nature and scope;
b) Management Processes – Planning, Organisation, Staffing, Directing and Controlling; role of a Manager in an Organisation;
c) Leadership: The tasks of a leader; leadership styles; leadership theories; A successful leader versus an effective leader;
d) Human Resource Development- Concept of HRD; Goals of HRD; Career Planning – Training and Development;
e) Performance Appraisal – Potential appraisal and development – feedback and performance counselling – rewards – employee welfare;
f) Motivation, Morale and Incentives: Theories of Motivation; How Managers Motivate; Concept of Morale; Factors determining morale; Role of Incentives in Building up Morale;
g) Communication: Steps in the Communication Process; Communication Channels; Oral versus Written Communication; Verbal versus non-verbal Communication; upward, downward and lateral communication; Barriers to Communication;
h) Role of Information Technology;
i) Corporate Governance: Factors affecting Corporate Governance; Mechanisms of Corporate Governance.
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