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AIC Management Trainee (Actuarial) Recruitment 2023: Apply Now for Latest Vacancies

AIC Management Trainee (Actuarial) Recruitment 2023 notification is out with 10 vacancies. Check out the eligibility criteria, pay scale, selection process, and benefits of joining. Apply before 05.04.2023 to grab this opportunity.
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AIC Management Trainee (Actuarial) Recruitment 2023 - Notification Details

Agriculture Insurance Company of India (AIC) has released AIC Management Trainee (Actuarial) Recruitment 2023 Notification. The online application process has started on 21.03.2023 and will end on 05.04.2023. There are a total of 10 vacancies for this post. The selected candidates will undergo a one-year training period and will be paid a consolidated salary of Rs. 60,000/- per month.

AIC Management Trainee (Actuarial) is a highly coveted position in the insurance sector, and the job comes with many benefits. The emoluments for Administrative Officer (Scale I Officer) after absorption include a pay scale of Rs. 50,925-2500(14)-85,925-2710(4)-96,765 plus various allowances, making the total emoluments approximately Rs. 84,000/- per month in ‘A’ Class cities. Additional benefits include New Pension Scheme, Special Allowance for passing Actuarial Examination, Gratuity, LTC, Medical Lumpsum, Group Mediclaim, Group Personal Accident Insurance, Vehicle Loan, Meal coupon, cost of Briefcase/leather bags, mobile handset, Newspaper, mobile expenses, etc. as per rules.

Notification Details
Organisation Name
Agriculture Insurance Company of India Limited (AIC)
Recruitment Exam Name
AIC Management Trainee (Actuarial) Recruitment 2023
Post Notified
Management Trainee (Actuarial)
Recruitment Type
Regular
Recruitment Category
Banking & Insurance Jobs

Salary / Pay Scale for Management Trainee (Actuarial) in Agriculture Insurance Company of India Limited (AIC)

The selected candidates for the AIC Management Trainee (Actuarial) Recruitment 2023 will be paid a consolidated salary of Rs. 60,000/- per month during the one-year training period.

After absorption, the candidates will be appointed as Administrative Officer (Scale I Officer) with a pay scale of Rs. 50,925-2500(14)-85,925-2710(4)-96,765 plus various allowances, making the total emoluments approximately Rs. 84,000/- per month in ‘A’ Class cities.

The pay scale is subject to revision from time to time as per the rules. The emoluments also include New Pension Scheme, Special Allowance for passing Actuarial Examination, Gratuity, LTC, Medical Lumpsum, Group Mediclaim, Group Personal Accident Insurance, Vehicle Loan, Meal coupon, cost of Briefcase/leather bags, mobile handset, Newspaper, mobile expenses, etc. as per rules.

Benefits of Joining AIC as Management Trainee (Actuarial)

One of the primary benefits is the attractive pay scale offered by the company. The selected candidates would be paid a consolidated pay of Rs. 60,000/- per month during the training period of one year. Upon absorption as Administrative Officer (Scale I Officer), the emoluments will be fixed in the scale of pay of Rs. 50,925-2500(14)-85,925-2710(4)-96,765, plus such other increment/allowance like DA, HRA, CCA, etc., as may be admissible under the rules in force, from time to time, and subject to the revision of pay scales, if any. The total emoluments will be approximately Rs. 84,000/- per month in ‘A’ class city, along with other benefits such as New Pension Scheme, Special Allowance for passing Actuarial Examination, Gratuity, LTC, Medical Lumpsum, Group Mediclaim, Group Personal Accident Insurance, Vehicle Loan, Meal coupon, cost of Briefcase/leather bags, mobile handset, Newspaper, mobile expenses, etc., as per the rules.

Vacancy Details for AIC Management Trainee (Actuarial) Recruitment 2023

Total vacancies notified by the Agriculture Insurance Company of India Limited (AIC) for Management Trainee (Actuarial) positions for the recruitment year 2023 are 10 (Ten). 

Educational Qualification / Eligibility Criteria for AIC Management Trainee (Actuarial) Recruitment 2023

Candidate must have following educational qualification / eligibility criteria for AIC Management Trainee (Actuarial) position –

  • The candidate should have passed or have been exempted from at least 5 actuarial exams conducted by Institute of Actuaries of India (IAI) or Institute and Faculty of Actuaries, UK as per old or new Curriculum.
  • Graduation from a recognized University/Institution/Board recognized by Govt. of India/ approved by Govt. Regulatory Bodies with minimum 60% (55% for SC/ST) marks.

Age Limit for AIC Management Trainee (Actuarial) Recruitment 2023

Age limit for Management Trainee (Actuarial) in Agriculture Insurance Company of India Limited (AIC) is Minimum Age: 21 Years; Maximum Age: 30 years i.e. a candidate must have been born not earlier than 2nd March 1993 and not later than 01st March 2002 (both dates inclusive).

Relaxation of 3 years for OBC (Non-Creamy Layer) and 5 years for SCs/STs and 10 years for PWD candidates. Age relaxation for SC/ST/OBC (Non-Creamy Layer)/PWD/Ex-Servicemen candidates as per DOPT guidelines. In case of a candidate who is eligible for relaxation under more than one category, the age relaxation will be available on a cumulative basis based on Government guidelines and Company Rules subject to the maximum age not exceeding 45 years

Selection Process for Management Trainee (Actuarial) in AIC

Based on the number of applications, Agricultural Insurance Company of India Limited (AIC) will choose Management Trainee (Actuarial) candidates by written examination and/or interview.

Written Examination: For shortlisting applicants, the written test will have 80% professional knowledge questions and 20% aptitude questions. General, OBC, EWS, and SC/ST applicants must get 60% or 55% in the written test. Applicants who pass the written exam will be ranked by merit for general and reserved categories and invited for a company interview. The company reserves the right to relax/extend the eligibility requirement for minimum required marks in written examination to increase/reduce the number of candidates summoned for interview based on performance in the written examination and the number of vacancies.

Interview: Preliminary screening will shortlist qualified candidates if there is no written exam. The company will personally interview the shortlisted candidates. The application form will be used to shortlist without document verification.

Application Fees for AIC Management Trainee (Actuarial) Recruitment 2023

Application fee for AIC Management Trainee (Actuarial) Recruitment 2023 is ₹ 100/- for SC/ST/PwBD category candidates and ₹ 500/- for all other category candidates. 

Important Dates for AIC Management Trainee (Actuarial) Recruitment 2023

The AIC Management Trainee (Actuarial) Recruitment 2023 has some important dates that candidates need to keep in mind. The notification was released on 21.03.2023, and the application process started on the same day. Candidates who wish to apply must do so before the last date of submission, which is 05.04.2023. It is important to note that the application process is completely online, and no other mode of submission will be accepted.

Description
Date
Date of Notification
21.03.2023
Starting Date of Online Application
21.03.2023
Last Date of Online Application
05.04.2023

Download Official Notification & Apply Online Link for AIC Management Trainee (Actuarial) Recruitment 2023

Detailed official notification and online application link for AIC Management Trainee (Actuarial) Recruitment 2023 are provided below –