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Title: Policies
Reference No.: --
Date: 30/10/2015
Internship in IRDAI – Terms and conditions
In pursuance of the Internship policy of IRDAI as approved by the Authority, IRDAI proposes to offer internship to students from reputed universities and educational institutions to provide internship for their students pursuing Graduate and Post graduate courses or Research in the respective institutions during the current winter break.
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. The internship is aimed at providing exposure to young students in the specific areas of insurance and provide them with practical experience in regulatory environment where learning is the primary objective and benefit them through exposure to policy issues/analysis in the course of their contribution to policy formulation/analysis by empirical analysis, briefing reports, policy papers etc.
The terms and conditions of internship in IRDAI are 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.    The no. of internships proposed to be offered during the winter session are 10 (Ten only).
4.    Students may apply (through their Institutions) to IRDAI in response to the Advertisement placed on our website in the prescribed application form duly filled in along with the letter of recommendation from their professors/guides.  
5.    To be eligible, the candidate should be a regular student of the institution.
6.    A Screening Committee constituted for the purpose will scrutinize the applications received and institution concerned will be informed of the empanelled candidates for further information to their selected students and necessary relief to join as an intern in IRDAI.
7.    IRDAI may consider offering them internship in different areas based on their credentials and aptitude and/or interest and as per selection by the Screening Committee.
8.    The internship is neither a job nor a promise for job in the future.
9.    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 as per prescribed proforma before reporting for the Internship.
10.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 during their internship at the Authority.
11.It shall be the responsibility of the Interns to make their own arrangements for accommodation and laptops. Working space/internet facility and other necessities as deemed fit shall be provided by IRDAI.
12.There shall be continuous monitoring of the project by the supervising officer of the Department allocated who will act as Project Guide.
13.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.
14.IRDAI shall be free to use all the research and academic output as may be appropriately decided.
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