III IC-47 / A-1 study guide
III IC-47 / A-1 · Work through your exam, one topic at a time.
IC-47 / A-1 is a professional examination paper of the Insurance Institute of India (III) for candidates building a career in insurance. It suits learners who need structured grounding across the insurance cycle rather than a single product line. The syllabus is grouped into four areas: principles and practice of insurance; insurance regulation and compliance; underwriting and risk assessment; and claims management and loss assessment. That spread makes it relevant to underwriters, claims handlers, compliance staff, agents and brokers who need to connect contract law and regulation to practical risk selection and loss settlement. The III IC-47 / A-1 study guide has 4 sections and about 1,348 words.
01Principles and Practice of Insurance
This domain tests the legal and contractual doctrines that underpin every policy and how Indian insurance practice applies them to real claims and disputes. Expect questions that ask you to identify the governing principle, apply it to a fact pattern, and distinguish closely related doctrines.
369 words, about 2 min02Insurance Regulation and Compliance
This domain examines the statutory architecture regulating insurers, intermediaries and market conduct in India, and how compliance obligations translate into day-to-day controls. Questions typically test the source of a rule, the regulator's powers and the consequence of breach.
348 words, about 2 min03Underwriting and Risk Assessment
This domain tests how an underwriter identifies, measures, prices and controls risk before accepting it. Expect questions on rating factors, policy conditions that shape exposure, and the distinction between hazards that can be priced and those that must be excluded.
322 words, about 2 min04Claims Management and Loss Assessment
This domain covers the claim lifecycle from notification to settlement or repudiation, including the role of surveyors, quantification of loss and recovery rights. Questions test procedural compliance, indemnity calculation and the evidence needed to reject a claim defensibly.
309 words, about 2 min