Top MBA Colleges in Insurance Management in India 25-2026 - Fees, Admissions, Placements, Career Scope
MBA in Insurance Management is one of the most in-demand specializations in India, due to the rising demand for skilled graduates in the insurance and risk management industry. Many of the best MBA colleges in India offer this specialisation. The course focuses on financial learning, risk management, claims processing, and insurance law.
An MBA in Insurance Management leads to the best career opportunities in various sectors, including banks, insurance companies, financial services, corporate risk management, and consulting organizations. Some of the Best MBA Insurance Management Colleges in India have placement support from various recruiters, including LIC, ICICI Lombard, HDFC Ergo, Bajaj Allianz, and SBI Life Insurance. In this article, we will cover the career scope for students pursuing an MBA in Insurance Management, placement opportunities, fees and the admissions process.
Read LessWhat is MBA in Insurance Management?
MBA in Insurance Management is a two-year postgraduate degree program that specializes in the insurance, banking, and financial services domain. The MBA in Insurance Management Course familiarizes students with risk management, insurance laws, claims management, underwriting, investment planning, and financial analysis.
The program is tailored for students who wish to create a strong professional career in the insurance and risk management sector. With the extensive growth of the insurance market in India, the MBA in Insurance Management 2025 offers ideal career opportunities in insurance companies, banks, financial institutions, and consultancy firms. Also, the best B-schools in India provide good placements, good internships, and great exposure to the industry.
Why Choose MBA in Insurance Management in India 2025?
Here are the key reasons to choose MBA in Insurance Management:
- High Demand for Management Professionals in the Insurance Sector - The insurance sector in India is growing at an impressive rate. As a result, this will lead to an increasing demand for skilled management professionals by 2025.
- Numerous Career Options - Insurance management graduates can take positions in insurance companies, banks, financial services firms, risk management firms, and consultancy firms.
- Good Salary Packages - An MBA in Insurance Management leads to good salary opportunities and good growth opportunities.
- Industry-Focused Curriculum - Students will learn skills related to risk assessment, claims management, underwriting, and financial planning, all of which are in demand.
- Global Career Opportunities - Insurance is a global-wide industry, and an MBA in this area would facilitate working in MNCs.
- Placement Assistance - Since the major MBA colleges in India offer very good placements, internships and industry training.
- Future Growth - The demand for skilled management professionals will be on the rise due to the awareness surrounding health, life, and general insurance.
Eligibility Criteria for MBA in Insurance Management in India 2025
To pursue an MBA in Insurance Management in India, prospective students must first check that they meet all the eligibility criteria. The candidate must have completed their bachelor's degree in any stream from a recognized university with a minimum of 50% marks. The minimum percentage marks for eligibility may be relaxed for candidates belonging to the reserved category guidelines set by the Government of India.
In addition, students must have a valid entrance exam score. Some of the accepted MBA Entrance Exam scores are CAT, MAT, XAT, CMAT, or any state-level exam. Several colleges and universities may also have personal interviews or group discussions as part of the selection process.
MBA in Insurance Management Admission Process 2025
Candidates willing to gain admission to the Insurance Management MBA must follow these steps:
- Applicants are required to have a bachelor's degree from a recognized university.
- Selection will require taking an entrance exam like CAT, MAT, XAT, CMAT, or state/university-level examinations.
- Some institutes may also provide admission based on merit in graduation, without any entrance exam. Thus, there is a provision for MBA Insurance Management Direct Admission 2025.
- Shortlisted candidates will take part in a group discussion (GD), personal interview (PI), or written ability test (WAT).
- Some institutes prefer work experience in banking, insurance, and finance and may not select a candidate without it.
- Students must fill out an online application, upload documents, and pay a fee.
- Overall selection is determined by entrance exam scores, academic performance, and interview results.
- MBA Admission 2025 Dates may vary between private and government MBA colleges.
Top MBA Colleges for Insurance Management in India: NIRF Ranking 2025
When identifying the best MBA colleges for Insurance Management in India, knowing the NIRF Ranking is essential. NIRF Rankings are published by the Government of India to assess colleges and universities based on teaching, learning and resources, research and professional practices, graduation outcomes, outreach and inclusivity, and perception. A higher NIRF Ranking is a sign that the institute is providing better learning experiences, exposure to the industry, and placement support.
As an example, the IIT Kanpur Department of Management Sciences has been ranked 29th in NIRF 2025. Similarly, BIMTECH Noida and Aligarh Muslim University gained 61st and 69th NIRF Rankings, respectively. These colleges are ranked among the NIRF Top 100 MBA Colleges in India. It can be advantageous for a student to review the NIRF ranking before taking admission, as it helps them make an informed decision about their future. Check out the Top-Ranked MBA Insurance Management Colleges in India.
| College Name | NIRF Ranking 2025 |
|---|---|
| IIT Kanpur, Department of Management Sciences | 29 |
| BIMTECH Noida | 61 |
| Aligarh Muslim University | 69 |
MBA in Insurance Management Fees Structure in India 2025
When choosing a college for MBA in Insurance Management, one of the critical factors to consider is its fee structure. The cost of education is directly proportional to the return on investment, as aspirants are willing to balance high-quality education with affordability.
IIT Kanpur fee structure is INR 3 Lakhs, BIMTECH Noida charges INR 6.5 Lakhs, and IIRM Hyderabad is INR 4.5 Lakhs. These colleges offer high-quality education at reasonable fees. If you are looking for affordable MBA Insurance Management Colleges, then consider choosing AMU and BHU.
Here we have tabulated the Top 10 MBA Insurance Management Colleges in India with the fee structure.
| College Name | Fees Structure (Per annum) |
|---|---|
| IIT Kanpur, Department of Management Sciences | INR 3 Lakhs |
| BIMTECH Noida | INR 6.5 Lakhs |
| BHU, Institute of Management Studies | INR 53,000 |
| Graphic Era University | INR 2 Lakhs |
| Aligarh Muslim University | INR 24,000 |
| Institute of Insurance and Risk Management (IIRM Hyderabad) | INR 4.5 Lakhs |
| Reva University | INR 4 Lakhs |
| Ramaiah Institute of Management Studies | INR 3 Lakhs |
| Acharya Nagarjuna University | INR 55,000 |
| MET Institute of Management | INR 1.5 Lakhs |
Top Private MBA Colleges for Insurance Management in India 2025
There are many benefits to enrolling in a private MBA college for Insurance Management. Usually, Private colleges boast up-to-date infrastructure, contemporary syllabus, industry partnerships, and opportunities for better placement. Finally, many private institutions provide flexible teaching methods, such as case studies, internships, and skill-based training, which can help students expose themselves to practical experience. Some of the Best private MBA colleges for Insurance Management include BIMTECH Noida, Reva University, and Graphic Era University.
Before choosing a college, students must explore certain factors, including the fee structure, placement records, teacher experience, and industry exposure. As an example, while BIMTECH Noida charges an approximate payment of INR 6.5 Lakhs per annum, the packages for placement are considerably good. Check out the Private MBA Insurance Management Colleges along with fees.
| College Name | Fees Structure (Per annum) |
|---|---|
| BIMTECH Noida | INR 6.5 Lakhs |
| Graphic Era University | INR 2 Lakhs |
| Reva University | INR 4 Lakhs |
| Ramaiah Institute of Management Studies | INR 3 Lakhs |
| Vidya School of Business | INR 50,000 |
| MET Institute of Management | INR 1.5 Lakhs |
| AES Institute of Management and Business Administration | INR 95,000 |
| IBMR Hubli | INR 55,000 |
| East-West College of Management | INR 50,000 |
| Rajiv Gandhi Institute of Technology | INR 55,000 |
| Regional College of Management | INR 4 LPA |
| D Y Patil Institute of Management and Entrepreneurship Development | INR 1.2 Lakhs |
| SKN Sinhgad School of Business | INR 90,000 |
Top Government MBA Colleges for Insurance Management in India 2025
One major advantage of choosing a government MBA College is the relatively low fee structure, which allows any student to pursue MBA at a low cost compared to private institutions at the same quality of education.
For instance, several of the Best Government MBA Insurance Management Colleges like BHU, Aligarh Muslim University, and Pondicherry University, offer quality education at remarkably low costs. In addition to the low fee structure, government colleges tend to have qualified faculties, a reputation and government support. Another advantage is that many government colleges offer students access to scholarships and research opportunities.
When making the decision regarding the best government MBA college for Insurance Management in 2025, students should consider several factors before making the final decision. Some important factors are the fee structure, placement opportunities, faculty expertise, college infrastructure, and industry exposure.
| College Name | Fees Structure (Per annum) |
|---|---|
| IIT Kanpur, Department of Management Sciences | INR 3 Lakhs |
| BHU, Institute of Management Studies | INR 53,000 |
| Aligarh Muslim University | INR 24,000 |
| Institute of Insurance and Risk Management (IIRM Hyderabad) | INR 4.5 Lakhs |
| Acharya Nagarjuna University | INR 55,000 |
| Sri Padmavati Mahila Visvavidyalayam | INR 1.6 Lakhs |
| Tumkur University | INR 55,000 |
| Annamalai University | INR 57,000 |
| Pondicherry University | INR 74,000 |
| Central University of Himachal Pradesh | INR 23,000 |
MBA Insurance Management Colleges in India with Low fees 2025
Pursuing an MBA in Insurance Management might be quite expensive. However, some of the good MBA colleges offer quality education at an affordable price.
Low fees MBA colleges for Insurance Management in India include Aligarh Muslim University (INR 24,000 per annum), Acharya Nagarjuna University (INR 55,000), and Vidya School of Business (INR 50,000). If you are looking for Top MBA Colleges under 1 Lakh, these are the best options.
Additionally, some of the affordable options include MET Institute of Management (INR 1.5 Lakhs), Sri Padmavati Mahila Visvavidyalayam (INR 1.6 Lakhs), and AES Institute of Management and Business Administration (INR 95,000).
Several private colleges also offer MBA degree at low fees, such as IBMR Hubli (INR 55,000), East West College of Management (INR 50,000), Rajiv Gandhi Institute of Technology (INR 55,000). These colleges not only offer MBA degrees at low fees but also offer strong placement assistance and have experienced faculty.
| College Name | Fees Structure (Per annum) |
|---|---|
| Aligarh Muslim University | INR 24,000 |
| Acharya Nagarjuna University | INR 55,000 |
| Vidya School of Business | INR 50,000 |
| MET Institute of Management | INR 1.5 Lakhs |
| Sri Padmavati Mahila Visvavidyalayam | INR 1.6 Lakhs |
| AES Institute of Management and Business Administration | INR 95,000 |
| IBMR Hubli | INR 55,000 |
| East-West College of Management | INR 50,000 |
| Rajiv Gandhi Institute of Technology | INR 55,000 |
| D Y Patil Institute of Management and Entrepreneurship Development | INR 1.2 Lakhs |
Top MBA Insurance Management Colleges in India with High Placement
The placement record is one of the most important aspects of college when looking to pursue an MBA in Insurance Management. A solid and reliable placement support mechanism prepares you to secure an employment opportunity immediately after completion of the MBA. You will receive placement support from some of the best insurance companies, banks, consulting firms, and financial institutions. Best placement is generally an indication of the college's reputation in the industry, its corporate tie-ups, and its alumni network.
For instance, the IIT Kanpur Department of Management Sciences has offered the highest package of 24 LPA, with an average package of 18 LPA. On the other hand, colleges like BIMTECH Noida and BHU Institute of Management Studies have great placement services with good value, with average packages of INR 11 LPA. Reva University and Ramaiah Institute of Management Studies provided average packages with the highest packages recorded of 40-50 LPA, demonstrating the value of placements and ROI. Here we have provided the Best colleges for MBA Insurance Management Placement.
| College Name | Highest Package | Average Package |
|---|---|---|
| IIT Kanpur, Department of Management Sciences | INR 24 LPA | INR 18 LPA |
| BIMTECH Noida | INR 24 LPA | INR 11 LPA |
| BHU, Institute of Management Studies | INR 23 LPA | INR 11 LPA |
| Graphic Era University | INR 16 LPA | INR 7 LPA |
| Aligarh Muslim University | INR 14 LPA | INR 4 LPA |
| Institute of Insurance and Risk Management (IIRM Hyderabad) | INR 15 LPA | INR 8.39 LPA |
| Reva University | INR 40 LPA | INR 8 LPA |
| Ramaiah Institute of Management Studies | INR 50 LPA | INR 7 LPA |
| Regional College of Management | INR 44 LPA | INR 8.5 LPA |
Career Scope and Job after MBA in Insurance Management
An MBA in Insurance Management in India in 2025 is one of the most rewarding career prospects. The insurance sector in India is growing rapidly due to the rising demand for health insurance, life insurance, general insurance, and corporate risk management services. As a result Career Scope after MBA in Insurance Management is vast and promising.
MBA Insurance Management graduates are hired in the insurance, banking, consulting, and IT, and multinational domains. Corporate companies require insurance managers and risk managers for employee benefits and employer liability policies, compliance, and executive benefits programs
In addition, Government jobs exist in IRDAI and public insurance companies, as well as in PSU banks for MBA graduates in Insurance Management
Jobs after MBA in Insurance Management
- Risk Manager
- Insurance Manager
- Underwriter
- Claims Manager
- Actuary Analyst
- Operations Manager
Salary after MBA in Insurance Management
MBA in Insurance Management Salary in India is highly rewarding. The salary for freshers will range between INR 5-8 LPA and INR 12-20 LPA for experienced insurance managers. Companies may even offer a much higher salary, depending on the role and knowledge.
| Job Role | Average Package |
|---|---|
| Insurance Manager | INR 7 LPA |
| Risk Manager | INR 8 LPA |
| Claims Manager | INR 6 LPA |
| Business Development Manager | INR 7 LPA |
| Operation Manager | INR 6 LPA |
| Actuary Analyst | INR 10 LPA |
Top recruiters for MBA Insurance Management Graduates
- SBI Life Insurance
- ICICI Lombard General Insurance
- New India Assurance Company
- HDFC ERGO General Insurance
- Life Insurance Corporation of India (LIC)
- Aditya Birla Sun Life Insurance
- Max Life Insurance
- Tata AIG Insurance
- Bajaj Allianz General Insurance
- Reliance General Insurance
- Kotak Mahindra Life Insurance
- Bharti AXA Life Insurance
- Oriental Insurance Company
- Deloitte, EY, PwC, KPMG (for risk & consultancy roles)
List of Top 147 MBA Colleges Insurance Management in India
![Jaipur National University - [Jaipur National University]](https://www.campusoption.com/images/colleges/logos/01_12_17_011835_Jaipur_National_U_Logo.jpg){kind=logo}
| >> Master of Business Administration | Fees : Rs. 110000 |
- Can I get direct admission in JNU Jaipur?
No, JNU Jaipur accepts MBA admissions only based on the score of National-level entrance exams such as CAT/ MAT/ XAT/ CMAT.
![IIM Raipur Executive MBA - [IIM Raipur Executive MBA]](https://www.campusoption.com/images/colleges/logos/02_04_15_070453_1.jpg)
| >> Master of Business Administration | Fees : Rs. 800000 |
![Institute of Management Technology Hyderabad Executive MBA - [Institute of Management Technology Hyderabad Executive MBA]](https://www.campusoption.com/images/colleges/logos/02_11_16_090834_hy_logo.jpg){kind=logo}
- Institute of Management Technology Hyderabad MBA fees
![Govindam Business School Executive MBA - [Govindam Business School Executive MBA]](https://www.campusoption.com/images/colleges/logos/16_01_17_051203_GD_LL.jpg)
| >> Master of Business Administration | Fees : Rs. 350000 |
![Ahmedabad University Executive MBA - [Ahmedabad University Executive MBA]](https://www.campusoption.com/images/colleges/logos/27_03_15_070106_aua_logo.jpg){kind=logo}
| >> Master of Business Administration | Fees : Rs. 40000 |
![International Institute Of Business Studies - [International Institute Of Business Studies]](https://www.campusoption.com/images/colleges/logos/30_12_16_122903_iibs.jpg)
- Direct admission is available?
Hi, Minimum eligibility of 50% aggregate marks in Bachelor’s degree is required to get admission in this college. Selection criteria will be based on personal int
![Balaji Institute of Telecom & Management - [Balaji Institute of Telecom & Management]](https://www.campusoption.com/images/colleges/logos/24_09_16_103801_balaji_logo.jpg){kind=logo}
| >> Master of Business Administration | Fees : Rs. 620000 |
- How can I get admission to the MBA program at BITM?
MBA is a 2 years PG program. Students must have completed their
![Banaras Hindu University - [Banaras Hindu University]](https://www.campusoption.com/images/colleges/logos/02_04_15_093608_Banaras_Hindu_University_12.jpg)
| >> Master of Business Administration | Fees : Rs. 110000 |
- BHU MBA Admission process
BHU MBA Admissions are accepted through the online application forms filled by the candidates after appearing for the CUET PG entrance examination.
![Pondicherry University - [Pondicherry University]](https://www.campusoption.com/images/colleges/logos/02_03_17_084053_logo.png){kind=logo}
| >> Master of Business Administration | Fees : Rs. 74350 |
- Pondicherry University Fee Structure For MBA
![Pandit Ravishankar Shukla University - [Pandit Ravishankar Shukla University]](https://www.campusoption.com/images/colleges/logos/11_04_17_104544_A13.jpg)
| >> Master of Business Administration | Fees : Rs. 60600 |
- Pandit Ravishankar Shukla University MBA Fees
Loading...FAQs
- Is MBA in Insurance worth it?
An MBA (Insurance Management) is a good investment as it leads to promising job opportunities and career advancement in the fields of insurance, banking, and financial services, along with attractive salary packages.
- What is the salary of MBA in Insurance Management?
The average salary of an MBA in Insurance Management in India ranges from INR 4 LPA and INR 15 LPA, depending on the work experience and skills.
- Can I do an Online MBA in Insurance Management
Yes, many universities in India have Online MBA in Insurance Management for working professionals with flexible options.
- Which is the best college for MBA in Insurance Management?
Some of the best colleges for MBA in Infrastructure Management are IIT Kanpur, BIMTECH Noida, BHU, Aligarh Muslim University, and IIRM Hyderabad.
- What is the scope of MBA in Insurance Management?
It has a good scope, jobs in India and abroad in Insurance companies, banks, consultancy companies and risk management and insurance roles.
- What is the eligibility criteria for MBA in Insurance Management?
Candidates are eligible if they possess a recognized bachelor's degree with a minimum of 50% above.
- What is the admission process for MBA in Insurance Management?
Admission is done through the entrance test, such as CAT, MAT, XAT, CMAT, or the respective University test.
- Can I Pursue MBA in Insurance without an Entrance Exam?
Yes, some private universities/colleges offer direct entry based on merit.
- What is the fees for MBA in Insurance in India?
The fee would range between INR 24,000 and INR 5 Lakhs per annum, depending on the college.
- Is Distance MBA in Insurance available in India?
Yes, many universities offer UGC-DEB recognized Distance MBA in Insurance Management.
- Can I get a Government Job after MBA in Insurance?
Yes, MBA Insurance Management graduates are eligible to apply for government jobs in the insurance sector, positions in banks, and any other government jobs within the financial sector.
- Is MBA In Insurance is better than MBA in Finance?
MBA in Insurance Management is focused on risk, claims and insurance services, while MBA in Finance is focused on banking, investment and corporate finance. Both are equally viable options. Students who intend to pursue a career within the insurance and risk management sector should pursue MBA Insurance Management.
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