III IC-78 study plan
III IC-78 · Give each week a clear focus.
8 weeks · About 6 hours per week
Insurance Institute of India professional examination subject IC-78 (domain structure not enumerated in the retrieved source)
Map the IC-78 syllabus into a one-page topic inventory, grouping every listed topic under a working domain label so later weeks can be sequenced
Define the core vocabulary of insurance practice (risk, peril, hazard, insurable interest, indemnity, subrogation, contribution, proximate cause) and write one-sentence definitions in your own words
Explain the distinction between life and general insurance in terms of insurable interest timing, indemnity application, and contract duration
Draft a personal glossary of 30 terms with a short example of each in a commercial context
Your checkpoint
A one-page syllabus map plus a 30-term glossary, both dated and filed for revision
Insurance Institute of India professional examination subject IC-78 (domain structure not enumerated in the retrieved source)
Describe the main classes of general insurance business and the typical risks each class transfers
Trace the structure of the Indian insurance market: insurers, intermediaries, reinsurers, and the role of the regulator
Summarise the principles governing a valid contract of insurance and apply them to two short case scenarios
List the duties of disclosure and the consequences of non-disclosure and misrepresentation
Your checkpoint
Two written case answers (150 words each) applying contract principles to given fact patterns
Insurance Institute of India professional examination subject IC-78 (domain structure not enumerated in the retrieved source)
Work through the underwriting process step by step, from proposal to policy issue, and note where judgement enters
Distinguish rating factors from acceptance criteria and identify which are within the insurer's control
Explain how reinsurance supports capacity and solvency, and describe the difference between proportional and non-proportional arrangements
Practice reading a policy schedule and wording to extract limits, deductibles, exclusions, and conditions
Your checkpoint
A completed underwriting flow diagram with annotation on rating factors and reinsurance touchpoints
Insurance Institute of India professional examination subject IC-78 (domain structure not enumerated in the retrieved source)
Describe the claims process from notification to settlement, including surveyor involvement and documentation
Apply the principles of indemnity, salvage, and subrogation to a total-loss and a partial-loss scenario
Identify common causes of claims disputes and the policy wording that resolves them
Explain the purpose of reserving and how claim reserves affect reported results
Your checkpoint
A timed 45-minute mock answer on the claims process, self-marked against a checklist you build
Insurance Institute of India professional examination subject IC-78 (domain structure not enumerated in the retrieved source)
Summarise the regulatory framework governing insurers and intermediaries, focusing on conduct, solvency, and reporting obligations
Explain the role of grievance redressal mechanisms and the policyholder's rights at each stage
Describe how insurance penetration and density are measured and why they matter for market development
Identify the main distribution channels and the compliance duties attached to each
Your checkpoint
A two-page regulatory summary sheet organised by who is regulated and for what
Insurance Institute of India professional examination subject IC-78 (domain structure not enumerated in the retrieved source)
Build a formula sheet covering premium computation, loss ratios, expense ratios, and solvency margin, with a worked example for each
Solve five numerical problems under timed conditions without referring to notes
Interpret a simple revenue account and balance sheet for an insurer, naming the key lines
Explain how pricing decisions interact with reserving and capital requirements
Your checkpoint
A formula sheet plus five solved numerical problems with workings shown
Insurance Institute of India professional examination subject IC-78 (domain structure not enumerated in the retrieved source)
Re-read the syllabus map and flag every topic you cannot explain aloud in 60 seconds
Close the three weakest gaps by writing short explanatory notes and re-testing yourself the following day
Practise two full-length past-paper-style answers under exam timing
Review your personal glossary and delete entries you can now define without notes
Your checkpoint
A gap register with each flagged topic marked closed or still open, plus two timed answers
Insurance Institute of India professional examination subject IC-78 (domain structure not enumerated in the retrieved source)
Run two full mock papers under exam conditions and record your score and time per section
Analyse every wrong answer to classify the cause as knowledge gap, misreading, or time pressure
Rehearse the five highest-frequency definitions and the formula sheet from memory
Finalise an exam-day plan covering time allocation, question order, and answer structure
Your checkpoint
A mock exam log with scores, error classifications, and a written exam-day strategy
Milestones
Week 2: Can define all 30 glossary terms and correctly apply contract principles to two unseen scenarios without notes
Week 4: Score at least 60% on the self-marked claims mock answer and explain salvage and subrogation from memory
Week 6: Complete the formula sheet from memory and solve three of five numerical problems correctly within 30 minutes
Week 8: Achieve a passing score on both full mock papers and show a written error analysis for each