Kolkata: ICICI Prudential Life Insurance on Tuesday announced it has signed a memorandum of understanding (MoU) with the Indian Institute of Management, Calcutta (IIM-C) to start a new course focussing on the insurance sector.

The course, named as Executive Program in Management and Insurance (EPMI), is targeted at the fresh graduates.

"With the boom in the Indian insurance industry over the last few years, there is an increasing need for skilled professionals in the sector. This course will develop a pool of high quality insurance talent for managerial roles," said Judhajit Das, human resources chief of ICICI Prudential Life Insurance.

It would be a non-residential, 10-month full-time programme where students would be taught 21 courses and it would be followed by internship.

"On successful completion of the programme each participant would get Successful Completion Certificate from IIM-C. If someone fails in one course or maximum of two courses one would get Certificate of Participation," said Saibal Chattopadhyay, dean (programme initiatives) and professor of operations management at IIM-C.

"ICICI Prudential Life intends to absorb all students who would pass out successfully in the company at managerial level," said Das.

Those students who would not clear the programme exam successfully would be absorbed at a level lower than the successful ones. They would mostly be appointed for frontline sales job.

There would be no bond signed between the student and the organisations. After passing the course, if they wish they could join some other organisation, Das added.

IIM-C would enrol 80-100 students in the first batch, which would start in September this year.

All over India, ICICI Prudential Life has tied up with 25 educational institutions for lower level programmes and from this year it is starting higher-level programme in two institutions, IIM-C and Xavier Labour Relations Institute (XLRI). Earlier it has a lower level programme in XLRI, which it is discontinuing now.

The course fee for this programme would be Rs.210,000, Das said. IANS