"We have sought permission from the Insurance Regulatory and Development Authority (IRDA) to open this institution in order to train professionals," said Terri Schuster, global chief executive officer, TGI. "We plan to have a regular brick and mortar structure and a website, globalEdegree.com, both of which will qualify registered students through proposed syllabus and a valid certificate, to perform as agents or sales force," she added.
TGI, a venture between InterContinental Marketing Systems (ICMS) and Victory Technology, Inc (Victory), is in the business of providing online courseware and training for financial service professionals for US domestic and international markets.
The Indian branch proposes to have offices in Mumbai and Delhi. "We felt that the IRDA prefers training institutions which have a physical presence in India, not just a tie up and train through distance education. So we have decided to have an office in India, where we will train with the help of institutes we have exclusive custodial rights to," the CEO said.
GlobalEdegree.com will train through the familiar classroom method as well as the online method. The content that is as per IRDA regulations and Indian market behaviour specifics, has been submitted to the regulator for accreditation and is awaiting approval.