The Memorandum of Understanding was signed on August 28, 2008. The first batch of 60 students will commence the programme from November or December 2008. According to the information shared by NMIMS, "The programme offers professional training in specialized subjects such as Insurance Sales Practices and Management, Insurance Products, Legal and Regulatory Aspects of Life Insurance and will also cover the fields of General and Marketing Management."
According to NMIMS, "The students who enroll in the program will get an assured opportunity to do their summer training with Max New York Life Insurance. In addition, students will also be absorbed in the company, as Full Time Employees (FTEs), subject to their clearing a minimum selection criterion."
Speaking on the occasion, Rajan Kalia, Executive Vice President & Head Human Resources, Max New York Life Insurance, said, "The rapid growth in the Indian insurance industry over the last few years has resulted in an ever increased need for skilled professionals in the sector. Now we have partnered with NMIMS University, we look forward to providing a strong platform for graduates to learn and build careers in specialized functions of life insurance. On successful completion of the course, they will be offered the position of FTEs at Max New York Life Insurance."
Dr. N M Kondap, Vice Chancellor, NMIMS University said, "The course is designed to provide students a thorough understanding of the specialized functions of Insurance Management and to enable them to take on challenges from the very first day at work".
Max New York Life is a joint venture between Max India Ltd., one of India's leading multibusiness corporate and New York Life, a Fortune 100 company. Max New York Life Insurance, incorporated in 2000, is one of India's leading and most admired private life insurance companies.
From a humble beginning in 1981 as a management institute with 4 full-time faculty members, NMIMS has now a University with 7 Schools, with over 100 full-time faculty members, and over 2,000 students enrolling each year. Its seven schools are: School of Business Management, Mukesh Patel School of Technology Management and Engineering, School of Pharmacy and Technology Management, School of Distance Learning, School of Architecture, School of Science and School of Commerce.
