NIACL AO Salary

NIACL AO Salary, Job Profile, allowances, career growth, NIACL AO Salary Structure & Job Profile for Generalist & Specialist 2018 – Check Here!

NIACL AO Recruitment Notification 2018>> APPLY NOW 

NIACL AO Salary Structure, Job Profile & Career Growth

New India Assurance Company Limited (NIACL) issued a notification on 10th December 2018 for 312 positions of Administrative officers across India. The last date to apply for NIACL AO is 26th December 2018.

Post Generalist & Specialists
Vacancies 312
Exam Conducting Body IBPS
Application Dates 10th Dec. to 26th Dec. 2018
Exam Stages Prelims, Mains & Interview
Exam (Phase I – Prelims) 30th Jan 2019
Exam (Phase II – Mains) 2nd Mar 2019
Exam (Phase III – Interview) Date will be announced later

Today we will be discussing some frequent doubts candidates have about NIACL AO Salary, Job Profile, promotions and career growth. But first, let’s take a look at what is New India Assurance Company and what are the duties of NIACL.

Click Here for NIACL AO Previous Year Papers

About NIACL:

  • The New India Assurance Company limited (NIACL) is a Mumbai Based one of the five assurance companies which is ownes by Government of India.
  • NIACL is the largest general insurance company of India on the basis of large premium collection.
  • It was founded in 1919 by Sir Dorabji Tata and was nationalised in 1973.
  • Formerly NIACL was a subsidiary of General Insurance Corporation of India (GIC), but as per IRDA act 1999 when GIC became re-insurance company, its four leading subsidiaries got autonomy.
  • The four subsidiaries of GIC which got autonomy after IRDA act 1999 includes:
    • New India Assurance
    • United India Insurance
    • Oriental Insurance
    • National Insurance
  • New India Assurance serve both in India and Foriegn Countries. Lately it has collaborated with some of the famous public sector banks of India like SBI, CBI, Corporation Bank and united western Bank to expand its distribution network.

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NIACL AO Salary Structure (Generalist & Specialist)

  • Basic pay: Rs. 32,795/- per month
  • Pay scale: Rs. 32795-1610(14)-55335-1745(4)-62315.
  • Total emoluments will be approximately Rs.51,000/- p.m. in Metropolitan Centers.
  • Allowances: It includes Dearness Allowance, House Rent Allowance, City Compensatory Allowance, Transport Allowance etc., as admissible from time to time.
  • Gross emoluments: Approximately NIACL AO Salary is Rs. 51,000/- per month.
  • Accommodation: Subject to availability.
  • Reimbursements: For expenses for maintenance of vehicle for official purpose, newspaper, briefcase, book Grant, allowance for the furnishing of residence, etc. as per eligibility.
  • Dispensary facilities: Apart from reimbursement of medical expenses for OPD treatment/hospitalization as per eligibility) NIACL AO also gets certain dispensary facilities.
  • Loans and Advances: Granted at concessional rates of interest for Housing, Car, Education, Consumer Articles, and Personal Computer.
  • Governance: By the Defined Contribution New Pension Scheme, in addition to the benefits of Gratuity.
  • Total Annual Pay: Including allowances along with admissible perquisites attached to the post of NIACL Administrative Officer (excluding the value of housing) works out at the minimum to Rs. 6,50,000/- p.a. (approximately).

NIACL Administrative Officer: Additional Points

  • Transfers: Transfer in New India Assurance usually takes place after three years of service, but if you are posted in Surat, Ahmedabad, Baroda or Guwahati you may have to spend some more years.
  • Rural postings: NIACL AO postings are generally all over India. Lady Officers get a choice of Posting.
  • Work pressure: There is no such work pressure in any office of New India Assurance, However there may be some offices with exception.0000000
  • Working Days and Timings: Work timings in New India Assurance are 9.30AM to 5.30PM and NIACL works 5 days a week.

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NIACL AO Job Profile 2018

NIACL AO Generalist Work Profile & Probation:

  • Work profile of AO involves Claim settlements, Underwriting, Risk Assessment and Supervision of Assistants work.
  • It also involves verification of risk proposals and authorization of claims.
  • When you are appointed as an AO after selection process, you will be posted and transferred to any place in India as per Company guidelines.
  • Immediately after joining, you will have to join for Probation, which lasts for 1 year.
  • During probation period you will be required to pass the non-life “Licentiate Examination” conducted by Insurance Institute of India.
  • You will also have to sign a Guarantee Bond which will require you to serve the Company for minimum of 4 years including Probation Period.

NIACL AO Specialist Work Profile & Probation

 1. NIACL AO Work Profile of Company Secretary or CS

  • Work profile of Company Secretary involves the efficient administration with regard to ensure compliance with statutory and regulatory requirements and for ensuring that decisions of the board of directors are implemented.
  • Immediately after joining, you will have to join for Probation, which lasts for 1 year.
  • You will also have to sign a Guarantee Bond which will require you to serve the Company for minimum of 4 years including Probation Period.

2. NIACL AO Work Profile of Legal Officer

  • It involves handling of all the legal affairs of the Company.
  • Prepare legal documents for various processes and provide assistance in the legal issues of the Company.
  • Monitoring the errors and keeping the authenticity of the documents i.e. Agreements and Contracts of the Company.

3. NIACL AO Work Profile of Finance & Accounts Officer

  • It involves management of the financial bookkeeping of the company.
  • Sending bills to its customers, processes refunds, interaction with collection agencies on past-due accounts etc.
  • Resolving billing issues of the company.
  • Assisting in the preparation of budgets and managing records and receipts of the Company.
  • Reconciling daily, monthly and yearly transactions and preparing balance sheets.

Probation period and conditions of Specialist officer is same as Generalist.

In conclusion, this is an opportunity you should not miss. NIACL AO is a great chance for all of you who want to make a good career in the insurance sector. Therefore, if you satisfy the eligibility criteria and want to work with a reputed govt. organization, you should go for it.

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Friends this is it for  NIACL AO Salary & Job Profile. Feel free to ask us any queries and questions you have in the comments section below and we will be glad to answer them for you. We wish you all the very best for your NIACL AO exam.
Related:
Click here to view RBI Assistant Salary
Click here to view IBPS Clerk Salary
Click here to view NIACL AO Expected Cutoff
Resources from Mockbank:
Click here to download previous Year Papers for IBPS RRB Office Assistant
Click here to view IBPS RRB prelims cutoff
Click here to view IBPS Clerk Expected Cutoff
Click here to view RRB NTPC Result Announcement

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3 COMMENTS

  1. What is cuts off marks for sc students and how are they calculated???

    How many questions would ask in prelims?
    How many category are there???

  2. In the notification of NIACL recruitment the postings available in mumbai and surrounding. So If a candidate from tamilnadu selected as ao then the candidate only posted in mumbai areas ???

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