NIACL AO: Job Profile, Roles, Responsibilities Promotions, Perks & Career Growth

NIACL AO: Job Profile, Roles, Responsibilities Promotions, Perks & Career Growth

Discover all the information you need to know about NIACL AO job profile, roles, responsibilities, promotions, perks & career growth.
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NIACL AO: Job Profile, Roles, Responsibilities Promotions, Perks & Career Growth

Are you still confused about the NIACL AO Job Profile 2023, salary or career growth? NIACL, being one of the biggest multinational general insurance companies in India, is a great place to join and start your career in the insurance industry. In this article, you’ll get to know all the details about the and NIACL AO Role and Responsibilities including the NIACL Promotions, Perks and Career Growth.

An Insight Into NIACL AO

As candidates and aspirants most will be confused about the NIACL AO Job Profile 2023, let us discuss the job role in detail here, the job profile of NIACL is Reviewing Insurance Policies, Checking Clauses, Settling Insurance Claims, verifying risk proposals, and submitting official returns is the NIACL AO Role and Responsibilities. NIACL administrative officers are one of the best and most respected positions in government-owned insurance companies. The NIACL AO recruitment process is completely online, which includes two phases of exams and finally a face-to-face interview to select the right candidate for the company.

Full form of NIACL

New India Assurance Company Limited

Headquarter Situated in 

Mumbai

AO Positions 

Administrative Officers, Generalists (Scale I )

Administrative Officers, Specialists (Scale I )

Exam Language

English and Hindi

Age Limit  

21 to 30 years for the general category (excluding relaxations to other categories) 

Selection Process or Phases

Phase I – Preliminary Examination (Objective)

Phase II – Mains Examination (Objective and Descriptive)

Phase III – Interview

NIACL Website

NIACL – Recruitment

Details Of The NIACL AO: Job Profile, Roles and Responsibilities

It is very important for prospective candidates to get a clear view of their job profile, roles, and responsibilities and most importantly about the NIACL Promotions, Perks and Career Growth in the different NIACL AO positions, which are divided into generalists and specialists.

1.NIACL AO Generalist

A NIACL AO Generalist is the starting level position in the company and has to do various administrative tasks related to insurance. A generalist has to be at least a graduate or postgraduate with at least 60% marks (for general candidates) and at least 55% marks (for SC, ST or PwBD candidates). You can also refer to the 2021 notification for administrative officers, Generalists (Scale-I) to get clarity on additional requirements and exam details.

The NIACL AO roles and responsibilities are: 

  • Verifying the claims that come in
  • Settlements of insurance claims
  • Approving the claims
  • Verifying the risk associated with any client’s insurance
  • Underwriting the insurance claims
  • Supervising the work of an Assistant

2.NIACL AO Specialist 

A NIACL AO Specialist is also a Scale I position in the company but works as a different professional in different departments as compared to the generalist, who does the regular work. Therefore, the education requirement of a specialist is also different from that of a generalist. 

There are three types of AO specialists in the NIACL: Company secretary, legal officer, and finance and accounts officer. You can also refer to the 2018 notification for administrative officers, Generalists and Specialists (Scale-I) to get clarity on.

NIACL AO Eligibility Criteria And Other Exam Details

Post Name

Minimum Educational Requirement

Job Roles and Responsibilities 

Company Secretary (CS)

  • Associate Company Secretary (ACS) or a Fellow Company Secretary (FCS) from ICSI.



  • Graduation or post-graduation in any subject with a minimum of 60% marks for general candidates and 55% marks for SC, ST or PwBD candidates.
  • Successful implementation of the decision taken by the boards of members.



  • Fulfilling and seeing all the statutory and regulatory work of the company.

Legal Officer

  • Graduation or post-graduation in law subjects with a minimum of 60% marks for general candidates (55% for SC, ST or PwBD candidates). 
  • Correct and error-free legal document preparation and maintenance in the company.



  • Checking for and correcting errors in legal documents.



  • Assisting in any legal matter that comes in.



  • Managing the legal records of the company. 

Finance and

Accounts Officer 

  • Chartered Accountant (CA) from ICAI or Cost and Management Accountant (CMA) from ICMAI



  • Graduation or post-graduation in any subject with a minimum of 60% marks for general candidates and 55% marks for SC, ST or PwBD candidates.

 

OR



  • MBA or PGDM in Finance with a minimum of 60% marks for general candidates and 55% marks for SC, ST or PwBD candidates.

 

OR



  • M.Com with a minimum of 60% marks for general candidates and 55% marks for SC, ST or PwBD candidates. 
  • Sending bills and invoices



  • Resolve the issues related to billing.



  • Refund transfer and processing



  • Helping with budget preparation



  • Reconciliation of books of accounts



  • Recording daily transactions and preparing financial statements



  • Managing the receipt and billing records



  • Communicating with the parties to facilitate payment collections.

Details Of The NIACL Promotions, Perks, And Career Growth

The salary scale of the NIACL AO generalists and specialists is similar. The basic salary of a NIACL AO is ₹32,795 per month and it was last revised in August 2017. The total in-hand salary of a person living in metro cities can be around ₹60,000 per month. 

As NIACL is a government company with its hands in different insurance products, it provides excellent career growth and promotions to its employees on a timely basis. The promotion of an administrative officer to Scale II depends on a number of factors, such as performance, seniority level, extra certifications, exams passed, etc. 

The employee has to pass the internal exam to get a promotion to Scale II and is eligible for this position after 3 years of service. Otherwise, there will be a constant promotion cycle that takes place every 5 years. 

NIACL AO Salary, Allowances, Career Growth, etc. 

Basic Salary 

₹32,795 per month 

Total Salary of an employee living in a metropolitan city

₹60,000 per month

Other allowances and benefits

  • House Rent Allowances (HRA)
  • Dearness Allowances (DA)
  • National Pension System (NPS) under PFRDA
  • Gratuity
  • LTS
  • Leave Travel Allowance
  • Medical Benefits and Reimbursements 
  • Leave Fare Concessions
  • Group Personal Accidental Insurance
  • Company or Leased Accommodation
  • Loans at concessional interest rates for housing, cars, education, etc.

Probation and Bond Period

4-year bond period, which includes a 1-year probationary period as well.

Full-time employment 

An employee, during his probation period, has to pass the Non-Life Licentiate Examination, which is conducted by the Insurance Institute of India, to get full-time employment with NIACL.

Promotion Cycle 

After 3 years of service and clearing the internal exam, or after 5 years of service.

Job positions at NIACL after the Administrative Officer

  1. Senior Administrative Officer
  2. Assistant Manager
  3. Manager
  4. Senior Manager
  5. Insurance Specialist
  6. Director or CEO

Conclusion

Though there has been no official announcement on the NIACL AO recruitment process for 2023. Speaking about the vacancies, NIACL AO Vacancy for the year 2023 is expected to be 300 but you should begin preparing today to get this job, which comes with so many perks and career opportunities in the insurance industry.

If you got selected for the NIACL AO Scale I position, you should definitely put your heart and soul into the job to get the maximum benefits in terms of salary, promotions and other allowances.

Frequently Asked Questions (FAQs)

1.Is NIACL a government job?

Yes, NIACL is an insurance company that is CPSU (Central Public Sector Undertaking) under the Ministry of Finance, and it definitely is a government job at different grades with the benefits and perks that come along with any government employee.

2.Is NIACL a transferable job?

Yes, NIACL jobs are transferable in India, as its offices are situated across the country. The selected candidates will be transferred after their initial 5 years of service. The transfer decisions are totally dependent on the NIACL rules and requirements.

3.What is the NIACL AO post?

NIACL AO, or Administrative Officers, is the scale I position in the NIACL, and the candidates all across India are recruited for different positions through the proper selection process, which is followed by two rounds of online testing and a final interview.

4.What happens if you resign during the probation period in a NIACL job?

The NIACL bond period is 4 years, including the 1-year probation period. If you resign from the post during the probation period or in a bond period, you have to pay NIACL one year’s gross salary received during the probation period and also an extra charge for the training period, which is ₹25,000.

5.Is the NIACL AO exam difficult?

The NIACL AO exam difficulty level ranges from moderate to easy, but it requires constant practice and learning to crack the prelims and mains examinations. You have to be ready with your English aptitude, quantitative aptitude, general awareness and reasoning ability. Also, if you are sitting for a specialist exam, you should be ready with your professional knowledge of each subject.

6.What is NIACL AO Salary 2023?

The basic pay of an Administrative Officer in NIACL is Rs.32,795 per month and the in-hand NIACL AO salary is approximately Rs.60,000 per month. 

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