Reference No.: IRDA/ADMN/CIR/PER/110/05/2015
Policy for Internship in IRDAI
IRDAI has been receiving requests, from reputed universities and educational institutions to provide internship for their students pursuing Graduate and Post graduate courses or Research in the respective institutions. The IRDAI may offer internship opportunity for students, on need basis, who have applied in response to an Advertisement on our website or through the Institute to carry out various projects in the area of insurance during their summer and winter breaks. The internship shall aim at providing exposure to emerging young talent in the specific area of insurance and provide future professionals with practical experience in regulatory environment where learning is the primary objective. The Interns may also benefit by getting exposure to policy issues/analysis and may contribute to policy formulation/analysis by empirical analysis, briefing reports, policy papers etc.
The terms and conditions for offering internship in IRDAI may be as under.
1. IRDAI offers internship to students who are Citizens of India pursuing their last year of graduation (after completion of a minimum of two years of studies) and Post-graduation in reputed Institutions such as IITs, IIMs, IIITs, Central Universities, National Law Schools and similar Institutions within India or abroad.
2. These internships are for carrying out Project/get training in the area of insurance only from regulatory perspective. The minimum duration of the internship may be two months and a maximum of three months.
3. Students from the Institutions may apply to IRDAI in response to an Advertisement on our website during the application window opened in the first week of November of each year.
4. The intern shall be a regular student of the institution.
5. Students from the Institutions may send their detailed CV along with a letter of recommendation from their respective Institution and apply to IRDAI in response to the Advertisement.
6. A Screening Committee constituted for the purpose will scrutinize the applications received and the candidates selected shall be informed by IRDAI under copy to the Institution.
7. Based on their credentials, the IRDAI may consider offering them internship in different areas based on their aptitude and/or interest and as per selection by the Screening Committee.
8. The deliverables from the internship are decided at the time of offering the internship itself. The interns are required to furnish a declaration of secrecy before reporting for the Internship.
9. The interns may be paid a suitable consolidated uniform stipend of not more than Rs.10,000/-. No other facilities shall be provided to the interns by the Authority.
10.It shall be the responsibility of the Interns to make their own arrangements for accommodation and laptops. Working space/internet facility and also other necessities as deemed fit shall be provided by IRDAI.
11.There shall be continuous monitoring of the project by the supervising officer of the Department allocated who will act as Project Guide.
12.On completion of the Project, the intern shall make a presentation on the Project to the HODs in IRDAI and submit a report to HR Department. The Intern shall also submit a report / working prototype / model to the IRDAI Library.
13.The number of slots of Interns within the Head Office at Hyderabad for a financial year will be restricted to Twenty (20) and as per need of IIRM, promoted by IRDAI.
14.IRDAI shall be free to use all the research and academic output as may be appropriately decided.