Insurance Surveyors and Loss Assessors License

Market Projections and Trends that Support IRDAI Surveyor and Loss Assessor Certification

Obtaining the IRDAI surveyor and loss assessor certification is mandatory for an individual or a company for determining the amount of actual loss in happening of events that are beyond the control of parties.

• Market Projection :- According to IBEF, India’s insurance sector is projected to reach USD 222 billion by 2026.
• CAGR Growth :- India’s insurance sector has recorded a strong CAGR of around 17% over the last two decades.
• Insurance Boom :- Rapid growth in motor and health insurance segments has increased the demand for professional loss assessment.
• Timeline :- The licensing process generally takes 3 to 6 months for new applicants, while the renewal window opens 90 days before expiry.
• Training :- A mandatory 12 months of training under a licensed surveyor is required for candidates without prior experience.

What are the Eligibility Conditions for the Insurance Surveyors and Loss Assessors License?

Prior to applying for an Insurance Surveyors and Loss Assessors license, you must know if you’re eligible under certain conditions. Find below:

• Valid Age & Citizenship :- An applicant must be an Indian citizen and at least 18 years old.
• Qualification :- The applicant must hold a degree or diploma in Engineering (Mechanical or Automobile), Architecture, Law, Accounting, or a qualification specific to insurance.
• IRDAI Registration :- The applicant must enrol as a student member on the IRDAI portal and submit the application along with the required documents.
• Examination :- After approval of the enrolment application by IRDAI, the applicant becomes eligible to appear for the examination.
• Mandatory Training :- After passing the examination for the Insurance Surveyors and Loss Assessors License, the applicant must complete 12 months of practical training under a valid licensed surveyor.
• Obtain New License :- Upon successful completion of training and submission of required documents, the applicant is issued a new license.

What are the Documents Required for Insurance Surveyors and Loss Assessors License?

The list of documents required to be submitted by an individual or company seeking an Insurance Surveyors and Loss Assessors License is as follows:

How to Apply for Insurance Surveyors and Loss Assessors License?

You can easily apply for Insurance Surveyors and loss assessors license by following simple steps given below. Make sure you have all documents prepared before you start filling out the form.

What are the Post-Licensing Needs for Insurance Surveyor License Online Registration?

The post-licensing requirements must be complied with after getting the insurance surveyor license online registration:

• Disclosure of Declaration :- Every surveyor and loss assessor is required to submit a declaration to the Authority stating information regarding the death, registration, suspension of directors or partners, holding patterns, and any other material changes.
• Duty to Investigate :- Licensed surveyors and loss assessors must investigate, manage, qualify, validate, and deal with losses arising from any contingency and submit reports to the insurer or insured.
• Compliance with Code of Conduct :- Every licensed surveyor and loss assessor must strictly comply with the prescribed Code of Conduct, act ethically, and maintain objectivity in professional and business judgment.

Why Trust Enterslice for Insurance Surveyors and Loss Assessors License?

Enterslice with a dedicated network of 200+ IRDAI experts help in the acquisition of insurance surveyors and loss assessors licenses in India and make a highly impactful footprint in the insurance industry. Here are few more reasons why you must trust Enterslice for Insurance Loss Assessor Registration.

Frequently Asked Questions on Insurance Surveyors and Loss Assessors License