OICL Recruitment 2022 – Notification, Salary, Job profile, Exam Pattern

    The Oriental Insurance Company Ltd. is an Indian general insurance company headquartered in New Delhi. OICL is a public sector undertaking (PSU) providing financial services in India since 12th September 1947. Currently, the OICL has merged with National Insurance Company Limited (NICL) and United India Insurance Company. The recruitment is done for Agents, Assistants, and Administrative Officers (AO), and the notification is released through the official website: https://orientalinsurance.org.in. In this article, we shall see all details about OICL recruitment such as Notification, Salary, Job profile, Exam Pattern, Syllabus, results.

    OICL Recruitment Exam 2021 Exam Highlights

    Name of organization The Oriental Insurance Company Limited (OICL)
    Type of the company Public Sector General insurance company
    Owned by The Government of India (GOI)
    Exam name OICL Exam
    Exam conducting Mode Online Computer Based Test (CBT)
    Location of the posting India
    Name of the posts Accounts, Actuaries, Generalists, Legal Officers, Engineers (Automobile), Medical Officer
    Number of Vacancies to be notified
    Last OICL Exam date February 2021
    Online Application Start To Be Announced
    Selection Mode Written tests (Prelims and Mains), Personal Interview (PI)
    Official Website https://orientalinsurance.org.in

    OICL 2021 Important Dates

    The candidates aspiring to sit for the exam must keep the following dates in their minds:

    OICL Event OICL Important Dates
    OICL Prelims exam (tentative) February 2021
    OICL Prelims Result (tentative) March 2021
    OICL Main exam (tentative) April 2021
    OICL Main result (tentative) May 2021
    OICL Interview (tentative) June 2021
    OICL final result June 2021

    OICL Application Fee

    The fees for the application for the posts in OICL have to be submitted online only. The amount of the fees differs according to the category you belong to. The OICL Application fee amount is as follows:

    • Application Fee is Rs 600 – For unreserved or general category + Other backward classes (OBC)
    • Application Fee is Rs 100 – For Scheduled castes (SC), Scheduled Tribes (ST), Persons with Disability (PwD)

    OICL Exam Eligibility Criteria

    Age criteria

    The age limit assigned for the application for OICL 2021 is given below. The applicant must have been born not earlier than 1st August 1990 and not later than 31st July 1999 (including both the dates. In case this age of the candidate doesn’t fit in this limit, he is not eligible for the application for OICL 2021.

    • Minimum Age of 21 years, as on 31st July 2020
    • Maximum Age of 30 years, as on 31st July 2020

    Education Qualifications

    The educational qualifications necessary for the OICL exam differ for every post. The higher the post, the higher is the required minimum qualification.

    Post name  Minimum Educational Qualification
    Generalist Bachelor’s degree or equivalent from a recognized university. (with 60% for unreserved category, and 55% for SC/ST)
    Automobile Engineers Graduation or Post-graduation in Automobile Engineering (with 60% for unreserved category, and 55% for SC/ST)
    Medical Officer Bachelor of Medicine and Bachelor of Surgery (MBBS)
    Legal Officer Bachelors of Legislative Law (LLB degree)
    Actuary Professional Graduation with 60% marks, plus cleared 4 Actuarial tests from IAI/IFOA
    Accounts Masters in Commerce, or MBA in Finance, or ICWAI Exam, Cost and Management Accountant

    OICL Exam Pattern

    The applicants of the OICL will have to go through three stages of the examination. The competition is tough because the exam is conducted at the national level. As the candidates are from all over the country, the students need to prepare very well for all three exams. The three-tier exam structure helps the OICL examination body to assess the candidates in every way possible. Given below are the three stages for the OICL 2021 Exam:

    1. Prelims or Preliminary OICL 2020 Exam – MCQ Paper
    2. Mains OICL 2020 Exam – MCQ + Subjective
    3. Interview OICL 2020 Exam

    You need to get qualifying marks in Prelims Exam in order to sit for the Mains Exam. Likewise, to appear for the final exam, the candidate has to go through all the above-mentioned exams. The candidates need to have a thorough understanding of the exam pattern in order to be able to prepare smartly for the exam.

    OICL Prelims Exam Pattern

    The OICL Prelims will be a total objective paper with only Multiple-Choice Questions (MCQ’s) asked in the exam. This test is primarily to filter the candidates for the Mains exam. The basic knowledge and the aptitude level will be checked and the students will be passed to the next level. The marks scored in the OICL Prelims will not be taken into consideration for the final result as the Prelims exam is just qualifying in nature.

    Name of the Section Marks Allotted
    English language 30
    Reasoning Ability 35
    Quantitative Aptitude 35
    Total Marks 100 marks
    • Exam duration: 1 hour
    • Exam type: Objective/ MCQs
    • Exam Mode: Online Computer Based Test (CBT)
    • Maximum Marks: 100
    • Sections of Prelims: English Language, Logical Reasoning, Quantitative Aptitude
    • Sectional Cut-off: Yes Applicable. The candidate has to get qualifying marks in every section
    • Negative Marking: Yes, for every wrong answer 1/4th of the marks assigned will be deducted. If any question is left unanswered then no marks will be deducted for that.

    OICL Mains Exam Pattern

    The candidates who qualify for the Prelims round are then allowed to give the OICL Mains exam. The competition is very high here because the Prelims-filtered candidate’s count is more than 20 times the actual vacancies available. The candidates who clear this Mains exam get an opportunity to compete for the OICL posts. There are two sections of the Mains exam- Objective and Descriptive. The objective and the descriptive part will be based on various topics as mentioned below.

    OICL Exam Descriptive Test

    This section is also part of the OICL Mains Examination. This subjective part will require the candidate to write answers in essay form i.e. lengthy questions, this will help the authorities check the language application ability of the candidates. This unit is of 30 marks and is very important as it is a qualifying section. The descriptive portion of the exam will be checked only if the student obtains the qualifying marks in the Objective Section. In addition to this, it is mandatory for the student to get passing marks in this individual section else, they would not be able to clarify the overall Mains paper without this.

    Tip- The aspiring students are advised to do reading and writing practice in the English language so that they are able to write long answers in the exam. The candidates are also advised to do typing practice on the computer so that they don’t waste their precious time typing slowly on the exam day. Become computer-friendly before the big day and you are good to go!

    • Exam duration : 2 hours for objective + 30 minutes for subjective/ descriptive
    • Exam type : Objective + Descriptive
    • Exam Mode: Online Computer Based Test (CBT)
    • Maximum Marks: 200 marks
    • Sections of Mains: English Language, Reasoning Ability, Quantitative Aptitude, General Awareness, Professional Knowledge.
    • Sectional Cut-off: Yes Applicable. The candidate has to qualify for every section
    • Negative Marking: Yes, for every wrong answer 1/4th of the marks assigned will be deducted. If any question is left unanswered then no marks will be deducted for that.

    The pattern of the OICL Mains exam is different for Generalists and for Specialist:

    Section Generalists (Marks Allotted) Specialists (Marks Allotted)
    Reasoning Ability Test 50 40
    English Language Test 50 40
    General Awareness Test 50 40
    Quantitative Aptitude Test 50 40
    Professional Knowledge Test 40
    Total 200 Marks 200 Marks

    The syllabus for the sections like English Language, Reasoning Ability, and Quantitative Aptitude is the same as it was for the OICL Prelims exam.

    OICL AO Personal Interview

    The candidates who clear the Mains exam will be called upon for the Personal Interview. Here the candidates will be approximately three times more than the actual positions required to be filled. The selected candidates have to reach the assigned Exam Centre at the reporting time. The interview will be given a weightage of 20% of the total final marks.

    OICL Exam Syllabus

    There are some sections in both Prelims and Mains Exam which are the same. The syllabus of those particular sections is the same and are as follows:

    OICL Exam English Language or Verbal Ability Syllabus

    This section of the paper will test the candidate’s basic knowledge about the English language, grammar, and comprehension skills. This will include familiarity with elementary English grammar and other simple topics related to the language.

    OICL 2020 English Language syllabus
    Synonyms Antonyms
    Vocabulary Fill in the blanks
    Comprehension Passages Editing
    Jumbled Paragraphs Omitting
    Sentence corrections Error Spotting
    One-word substitutions Spelling check
    Idioms and Phrases Sentence Completion
    Passage Completion Prepositions
    Active and Passive Voice Sentence Arrangement

    OICL Exam Reasoning Ability or Logical Reasoning

    This Critical reasoning exam is for testing the candidates’ ability to draw logical conclusions. This skill is important in everyday life also which makes it an inherent part of the Prelims exam. The subsections for the Logical Reasoning test are as follows:

    OICL 2020 Logical Reasoning
    Logical Problems Number Series
    Analytical Reasoning Cause and Effect
    Statement and Conclusion Verbal Classification
    Puzzles Verbal Classification
    Logical Deduction Data Interpretation
    Blood Relations Clocks
    Calendars Alphanumeric Series

    OICL Exam Quantitative Aptitude or Mathematical Ability

    This part of the paper consists of mathematics topics from the primary and secondary levels of school. This elementary level of mathematics and aptitude will test the candidate’s ability of problem-solving and basic quantity calculation sums.

    OICL 2022 Quantitative Aptitude syllabus
    Number sense and numeration Profit and Loss
    Unitary Method Geometry
    Mensuration Algebra
    Trigonometry Data Management
    Simple Equations Problems on HCF and LCM
    Elementary Number Theory Ratio and Proportion
    Time and Distances Compound Interest

    OICL General Knowledge

    Good knowledge of general awareness has become important for every exam point of view. This part of the paper will test the candidates’ knowledge of current affairs and basic familiarity with the social, economic, and political situation in India and the world. Keep yourself updated about current affairs through good English newspapers and regularly watch informative news channels. This will even improve your reading, writing, and understanding skills for the English paper as well.

    OICL General Knowledge syllabus
    Countries and Capital Static GK
    International Events Science and Technology
    Literature- Famous Books and Authors Fiscal and Monetary Awareness
    Constitution of India Inventions and Discoveries
    Indian Politics, culture, Sports Tourism
    Indian Geography Famous days in History

    OICL Professional Knowledge Section

    This section of the Mains exam will test knowledge and understanding of specific subjects of the study. This part is important as it can give you an edge over the other candidates if you learn the basics of the following subjects that are important from the recruitment point of view:

    OICL Professional Knowledge syllabus
    Database Management Actuaries
    Marketing Management Human Resource/ Personnel Management
    Legal Operating System
    Account and Finance Information Technology

     

    OICL Final Result

    It is estimated that the final result and the list of the candidates selected will be declared in the month of March 2021. The final marks for OICL 2021 will be calculated on the basis of the performance in the Mains (Objective Section) and Personal Interview (PI). The ratio of the Mains (Objective) and Interview will be 80:20.

    OICL 2021 Vacancies

    In 2020, there are a total of 300 vacancies in OICL for different positions. Every year, the number of vacancies is listed after the notification for the recruitment drive is released. The specific number of positions for the particular posts are given below:

    Name of the Position OICL 2020 Number of Vacancies OICL 2020
    Generalist 223
    Automobile Engineers 15
    Medical Officer 10
    Legal Officer 30
    Actuary Professional 02
    Accounting 20
    Total Number of vacancies 200

     

    Oriental Insurance Job Profile

    OICL Probation Period

    All Candidates who are selected for the post of Administrative Officer in the OICL will be kept under probation for one year. This time period can be extended by the higher authorities two times for six months, according to their jurisdiction. All probationers should clear the Licentiate Examination (assessment made by the Insurance Institute of India) for them to become permanent.

    OICL Guarantee Bonds

    Along with the Probation period, another important thing is signing the guarantee bonds for the period of four years including the probation period. No employee should resign before the completion of the Bond period. In case one does, the person would be liable to pay one year’s gross salary to the authorities, as per the terms and conditions. According to the Guarantee bond, the employee is paid monetary compensation for the job along with the partial cost of the training.

    OICL AO Salary and benefits

    Designation Average Monthly Salary in Rupees
    Assistant Manager ₹ 52,500
    Administrative Officer ₹ 54,000
    Divisional Manager ₹ 1,11,000
    Manager ₹ 40,000
    Branch Manager ₹ 87,000

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