IIMB is involved in the process of development partnerships with the insurance industry, both life and general. IIMB is keen on developing partnerships where the partner takes an active role, accepting ownership as well as responsibility. The partnership leverages the resources of the insurance industry and IIMB

IIMB has taken the initiative in the field of management education and research in the area of insurance and pension business. IIMB and Insurance Regulatory and Development Authority (IRDA) of India have signed a memorandum of understanding to enhance these efforts. To strengthen the activities in the areas of insurance and pension business, IIMB has set up the Centre for Insurance Research and Education (CIRE). This essentially an industry-academic partnership.

CIRE is involved in:

• Undertaking research and consultancy studies.
• Developing teaching materials and preparing working papers.
• Organizing workshops and seminars.
• Conducting management development programmes for practitioners.
• Preparing management graduates for the insurance and pension business.
• CIRE along with IRDA organized the 5th Asia Pacific Risk and Insurance Association (APRIA) Conference at IIMB during July 2001.
• Book on Pension - Scenario in India