Page 47 - Insurance Times June 2023

and. HRM, In fact, it is only, B-School to offer Actuarial Science assessment test, Preferably from 2024-26 batch. The IIRM
in PGDM. plans hold an All-India entrance test for the admissions. They
will continue to take valid sores of the CAT, CMAT and MAT
In addition, we also offer short-term certification programs
until their own test becomes popular among the audience.
and Distance learning (for working professionals)
Trends in Insurance: The insurance sector is also
The B-School, which started with 60 seats, now has 180 seats.
transforming into tech-based work. Hence B. Tech qualified
Admissions for the year 2023 are open and students can apply
students with Insurance knowledge are the most sought- after
through the Website. http://www.theiirm.ac.in
candidates today and there is a lot of growth prospects. All
the routine activities are now being done with the help of
Dr. V. V. K Mohan Principal, IIRM, who oversees the academic
technology, tech-savvy people with industrial knowledge are
activity and shaping the Institute as a Centre of Excellence
the need of the hour. Today, technology and domain
and An Institute Of National Importance. He has over 34
knowledge are becoming very important and the Institute is
Years of Industry and Teaching Experience.
focusing on these aspects. The future is bright for the students
who opt for the risk management field. IIRM has the robust
Academic rigor is further maintained by the student centric
ecosystem for such students.
approach to make every student of the institute industry
ready by the principal Dr. V V V K Mohan who brings in vast
Sought- after courses: Risk Management and Insurance
industry experience along with excellent teaching pedagogy
courses are the most sought-after ones. Courses in financial
ensuring in bringing out the best from each and every student.
services, marketing and analytics are also in demand.
Institute has excellent industry connect which is fortified by
New Courses: The institution is on the verge of launching
the MOUs from different organisations of the industry in the
short- term courses of six months /one-year modules for the
areas of academics, training, executive programs, certificate
working professionals co-curated by the industry majors for
programs, industry curated specific interventions, workshops,
their career progression.
webinars and various activities which strengthens the
insurance industry through knowledge dissemination.
Thus IIRM is contributing on a 3600 mode to upskill the talent
of the Insurance Industry.
All-India Entrance Test: IIRM proposes to conduct our own

WTW launches world-first parametric insurance solution in

Australia
Insurance broking firm WTW has launched Nitrogen Risk Insurance to safeguard profitability for Queensland sugarcane
farmers in Australia.

WTW revealed that nitrogen fertiliser costs have doubled in Australia in the past year, with prices expected to remain
high for the foreseeable future. Until now, sugarcane farmers have had to spend more on fertiliser or seek to reduce
fertiliser application rates at the risk of reducing crop yield, potentially causing even greater economic impact to
their operations.

Nitrogen Risk Insurance is the world’s first parametric insurance allowing sugarcane farmers in Queensland to cover
the risk of yield shortfall from reduced applications of nitrogen fertiliser on ratoon crops.

“WTW is proud to have developed a new type of parametric insurance which pays out faster for sugarcane farmers,
underpinned by over 20 years of sugarcane production research by the CSIRO including soil, agronomy, and climate
data. With each policy being tailored to crop location, soil type, and crop start time, farmers can insure one, some,
or all of their ratoon blocks, providing complete flexibility and control over their buying decision,” said WTW account
director Russell Mehmet.

42 June 2023 The Insurance Times