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National Insurance Academy
National Insurance Academy (NIA) is a premier institution devoted to equip the insurance industry with the best of talents. Its close association with the Insurance industry provides the 'real life' reference to its training, education, research and consultancy activities. NIA was established in 1980 jointly by the Ministry of Finance (India), Life Insurance Corporation of India, General Insurance Corporation of India, The New India Assurance Company, National Insurance Company, United India Insurance Company and The Oriental Insurance Company on 16 December 1980 in Mumbai to be the institute of excellence in learning and research in Insurance, Pension and allied areas. The Academy was shifted to Pune on 4 June 1990 with the state-of-the-art facilities for learning and research. Initial years of NIA were dedicated to Management Development Programmes catering to the insurance industry professionals to enhance the management skills and domain expertise. Later, the two year Post Graduate Diploma in Management course was initiated to fulfill the growing demand of skilled professionals in Insurance and Risk Management. The programme offers dual expertise in management and Insurance.
The Academy has a sprawling (approximately 32 acres) campus housing the administrative, academic, hostel and residential facilities amidst lush greenery. The campus is self sufficient with a Bank, Post Office, Dispensary, Sports, Gymnasium and Swimming Pool facilities. Currently Mr.Sushobhan Sarker, Former Managing Director, Life Insurance Corporation of India is the Director of National Insurance Academy. By rotation Mr G. Srinivasan (New India Assurance CMD) has become the Chairman of NIA Governing Board, mostly the academy is controlled by LIC, GIC & public sector insurance companies like National Insurance Company Ltd, Oriental Insurance Company Ltd, New India Assurance Company Limited, United India Insurance Company Limited and who are responsible for all major revenue-generating operations of the academy. A main source of income of the academy is arranged by IRDA in the form of Broker's training and examination programs. Also the MDP programme for top executives of insurance companies are a major contributor to funds generated by NIA.
== Evolution of NIA ==
NIA was functioning from Mumbai until 1990 and moved to its beautiful campus at Pune in the early 1990s. The academy is now an integrated management school with training, education, publications, research, consultancy and regulatory advisory services. Life Insurance, General Insurance, Reinsurance, Health Insurance, Crop Insurance, Credit Insurance, Pensions, Actuarial Services, Insurance Investment, Market research for insurance companies,developing insurance institutions and leadership for succession planning and Insurance regulatory compliance are the fields covered by the academy. The earlier Director (Late Dr. PS Palande - Retd Commissioner of Pune) had already positioned NIA on the international map. Later Kailash Chandra Mishra took over as the Director of the academy from 1999 and spearheaded the academy till August 2009.
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