Insurance surveyors play a significant role, acting as impartial assessors for making evaluations of claims, analyzing damages, and providing expert advice. Ensuring transparency and fairness in the claims settlement process benefits insurers and policyholders.
Who is an Insurance Surveyor?
An insurance surveyor is an individual licensed by the Insurance Regulatory and Development Authority of India (IRDAI) to assess and investigate insurance claims. They are responsible for evaluating the extent of damage, loss, or liability claimed by a policyholder, and preparing reports based on their findings. Their expertise helps insurance companies determine the accurate compensation to be provided to the claimant, ensuring that both parties are treated fairly.
General Services Provided by a Surveyor and Loss Assessor
- Investigate, assess, quantify, and validate losses, whether insured or not, caused by any contingency.
- Determine the extent and nature of the loss or damage.
- Conduct initial and follow-up inspections of the affected property.
- Carry out spot and final surveys as required, providing insights on issues like underinsurance, policy excess, and other relevant matters.
- Advise both the insurer and the insured on loss minimization, control strategies, and safety and security measures.
Insurance Surveyor Qualification for Exam
1. Educational Qualification
The minimum educational qualification of a diploma or degree in fields such as engineering, architecture, or surveying. In addition, individuals with qualifications in law, accountancy, or insurance can also apply.
2. Professional Experience
A background in insurance, loss assessment, or risk management is often beneficial. Some experience in surveying or inspection may be required based on the field of specialization.
3. Registration with IRDAI
Before taking the exam, candidates must register with the IRDAI by applying through the official portal. If you are planning to opt for a career as an insurance surveyor, it is a must to clear the insurance surveyor exam in India!
Steps to become an Insurance Surveyor in India
Registering on the BAP Portal -
The first step to acquiring a surveyor license is registering on the BAP portal. After completing your registration, you can proceed to submit a training request.
Selecting the Trainer -
Once registered, you need to choose a trainer and the department in which you wish to undergo training as part of the licensing process.
Trainer Acceptance Certificate -
If your chosen trainer accepts your request, you will receive an email notification from IRDA confirming the acceptance. In case of rejection, you'll need to select another trainer.
Form 13 - Trainee Surveyor Enrollment -
After accepting your training request, you must complete Form 13 to enroll in the training course. The trainee is required to finish the training before applying for the license.
Appearing for the Exam Conducted by the Insurance Institute of India (III) -
Once your trainer submits your third quarterly report, the Insurance Institute of India (III) will schedule your exam. You will then need to appear for the exam.
Checkout here Insurance Surveyor Exam Syllabus
Training Completion Certificate -
After completing your training, your trainer will issue a Training Completion Certificate.
Applying for a New License
After passing the exam conducted by the Insurance Institute of India (III), you can apply for a new surveyor license. Once granted, you can begin your career as a licensed surveyor.
Bottom Line
The journey to becoming a surveyor may seem challenging, but with the right preparation and dedication, you can secure a fulfilling and dynamic role in the insurance sector.
Becoming an insurance surveyor offers a rewarding career path for individuals interested in the insurance industry and claim assessments. Bypassing the Insurance Surveyor Exam and obtaining your IRDAI license, you can build a successful career in this field, helping both insurers and policyholders navigate the claims process fairly and efficiently.
FAQs on The Insurance Surveyor Exam
Q. Where can I file an online application for trainee surveyor enrollment, a fresh surveyor license, renewal, modification, or a duplicate surveyor license?
A: You can file your online application for trainee surveyor enrollment, a new surveyor license, license renewal, modification, or a duplicate license on the IRDAI’s BAP Portal.
Q. How to apply for a Fresh Surveyor Licence?
A: Steps for applying for a fresh license:
- Click the Trainee tab
- Click the Licensing tab.
- Click Fresh License. The Fresh License Application (Form 1-AF) will open. All the mandatory fields in the form are marked with an asterisk (*).
Q: What are the eligibility criteria to become an insurance surveyor?
A: To become an insurance surveyor, you need a degree or diploma in fields like engineering, architecture, or law. Individuals with a background in accountancy, insurance, or surveying can also apply.
Q: What is the duration of the training process?
A: The training period may vary depending on the field of specialization and the trainer’s guidelines. Generally, it includes quarterly reports to assess your progress.
Q: Where can I apply for a new, renewal, or duplicate surveyor license?
A: You can apply for a new license, license renewal, modification, or duplicate license on the IRDAI’s BAP Portal.
