IRDAI Manager Eligibility Criteria 2024
The Insurance Regulatory and Development Authority of India (IRDAI) is the top regulating agency in India's insurance market. Established in 1999, its principal function is to defend policyholder interests and ensure the financial stability of the insurance business. To promote fairness and transparency, the IRDAI creates regulations, issues licenses, and monitors insurance companies. It also promotes the growth of the insurance market by promoting innovation and assuring access to cheap insurance products. Furthermore, the IRDAI is essential to preserving the harmony between consumer protection and the expansion of the insurance industry in India.
It is very important for students to check the IRDAI Manager eligibility criteria before applying for the position of IRDAI Manager. Understanding these requirements helps ensure applicants meet the required qualifications and do not waste time and effort on rejected applications. The IRDAI Manager eligibility criteria provides basic information about academic qualifications, age, experience and other requirements necessary to apply. By carefully reviewing this information, students can better prepare their applications, gather necessary documents, and increase their chances of success. Additionally, knowing the IRDAI Manager eligibility criteria will allow applicants to better plan their career and educational paths, with the goal of meeting these standards in the future.
Along with the details about IRDAI Manager Salary and other important information like the IRDAI Manager Exam Dates, candidates should possess the required IRDAI Manager eligibility criteria to apply for the IRDAI Manager exam 2024. However, the IRDAI Manager notification is not yet released for 2024. It is advised to go through the detailed IRDAI Manager eligibility criteria 2024 once it gets released so that your candidature does not get cancelled at the later stage. More information about the IRDAI AM eligibility criteria is given below.
IRDAI Manager Educational Qualification
The IRDAI Manager post requires a graduation degree with at least 60% marks (55% for SC candidates) in Life/Non-Life, Finance & Accounts (F&A), or Investments. applicants for IT employment must have a B.E./B.Tech in IT/CS with 60% marks or an MCA/Masters in IT/CS with 60% marks in graduation (55% for SC applicants). Professional qualifications for F&A/Investments include ACA, AICWA, ACS, CMA, and CFA. Becoming a Fellow of the Insurance Institute of India and understanding computer operations are desirable qualities.
This basically means that the minimum essential IRDAI Manager eligibility criteria requires an educational qualification of a Graduate Degree in the respective stream for which you are applying in the exam. There can be other added IRDAI Manager qualifications regarding educational requirements depending on the post you are applying for. Read about the details below.
| Post | Qualification | Details |
|---|---|---|
| Qualification | Essential | Life/Non-Life/ F&A/Invts: Graduation -60% (for SC Candidates- 55%) IT: B.E./B.Tech (IT/CS) - 60% or MCA/Masters in IT/CS with 60% marks in graduation (for SC Candidates- 55%) |
| Professional | F&A/Invts: ACA/AICWA/ACS/CMA/CFA | |
| Desirable | Fellow of Insurance Institute of India and Knowledge of Computer Operations |
IRDAI Manager Age Criteria
According to the previous IRDAI Manager notification, candidates must meet the IRDAI Manager age limit for 2024, which stipulates that applicants must not exceed 45 years of age. Any candidate who is above 45 years will not be eligible to apply for this position as per the IRDAI Manager eligibility criteria . This age limit ensures that candidates possess both the necessary experience and the vitality required to perform effectively in the demanding role of an IRDAI Manager. The IRDAI Manager eligibility criteria are designed to maintain a balanced workforce that can handle the complexities of the role. Adhering to the IRDAI Manager eligibility criteria ensures that only those candidates who fit the age and experience requirements are considered, fostering a dynamic and capable management team within the organization. Take a look at the IRDAI Manager eligibility criteria in the table below
| Name of the Post | Age |
|---|---|
| Manager | Min- 35 years / Max- 45 years |
IRDAI Manager Age Relaxation
IRDAI has a provision of upper age relaxation for certain categories of candidates, ensuring inclusivity in the recruitment process. The relaxation will vary depending on the specific reserved category to which a candidate belongs, allowing for equitable opportunities. Additionally, employees of IRDAI are eligible for age relaxation based on the number of years they have served in the organization. This provision acknowledges their dedication and experience, offering them a fair chance to meet the IRDAI Manager eligibility criteria. Candidates should carefully review the IRDAI Manager eligibility criteria to understand the applicable age relaxations and other requirements. You can check out the table below for further details on the IRDAI Manager eligibility criteria .
IRDAI Manager Work Experience
The IRDAI Manager eligibility criteria and work experience required to apply for the IRDAI Manager post is 8 years. You should have a minimum of 8 years of experience in any managerial or mid senior level role in PSU Banks, PSU Insurance Companies or any Finance regulatory organization. Please make sure you have a valid proof of your work experience like documents, email, etc. Below is the breakdown of the year of work experience required according to the level of seniority.
- Financial Sector Regulators: Officers in Grade B or one level below with 5 years of experience in that scale.
- PSU Insurance companies: Scale III or one level below with minimum 5 years of experience in that scale.
- PSU Banks: Officers in the analogous pay band mentioned in scales of pay or one level below with minimum 5 years of experience in that scale.
- Government: Officers holding analogous post in the pay band mentioned in scales of pay.
You can take a look at the work experience for the IRDAI Manager eligibility criteria in the table below:
| Post | Experience | Details |
|---|---|---|
| IRDAI Manager | Minimum years of working experience | 10 Years |
| Service in the present scale / position | PSU Insurers / PSU Banks - Scale II or higher; Other Insurers/ Financial sector regulators – one grade/scale of pay below the advertised post. IRDAI’s decision in determining service in equivalent grade/scale of pay will be finalPSU Insurers / PSU Banks - Scale II or higher; Other Insurers/ Financial sector regulators – one grade/scale of pay below the advertised post. IRDAI’s decision in determining service in equivalent grade/scale of pay will be final | |
| Specific working experience in a department / area of work with Insurers/Banks/Financial Sector regulators |
F&A/Investments - 3 years working experience as Officer in Finance / Accounts /Investment/ Treasury Depts. Life/Non-Life - 3 years working experience as Officer with Life/General Insurers IT - 3 years working experience as Officer in IT Dept. |
