Life Insurance. industry guide Australian and New Zealand Institute of Insurance and Finance

Transcription

1 industry guide Australian and New Zealand Institute of Insurance and Finance

2 Contents six seven sixteen CAREER PATHWAYS MEMBERSHIP COMPLIANCE Level 8, 600 Bourke Street, Melbourne Victoria 3000 Australia Telephone (New Zealand Freecall ) Facsimile customerservice@theinstitute.com.au CONNECT WITH THE INSTITUTE eighteen WORKSHOPS AND EVENTS twentyfour TRAINEESHIPS twentyfive PROFESSIONAL QUALIFICATIONS ABN A Company Limited by Guarantee. Incorporated In Victoria Australia. thirty thirtythree thirtyfour The head office of the Australian and New Zealand Institute of Insurance and Finance is based in Melbourne, Australia. All events, courses, qualifications, enrolments and membership services are administered at head office. Questions or concerns about course enrolment, study or membership should be directed to the Institute s Customer Service team. All prices are quoted in Australian dollars and exclude GST unless stated otherwise. Australian and New Zealand Institute of Insurance and Finance. Copyright The information presented in this publication is true and correct at the time of publication. The Australian and New Zealand Institute of Insurance and Finance reserves the right to amend the information contained herein. Any amendments made during 2014 will be made available on the Institute s website at STUDYING WITH THE INSTITUTE 130 YEARS ACADEMIC CALENDAR

3 WELCOME After 130 years of operation, the Australian and New Zealand Institute of Insurance and Finance (the Institute) remains the premier professional membership body for the insurance industry and the leading insurance and financial services educator in the Asia-Pacific. This brochure outlines the Institute develops use an ANZIIF post-nominal to Institute s most popular qualifications under the mark their level of knowledge products and services, Australian Qualifications and skills. Institute members The Australian and New Zealand Institute of Insurance and Finance is proud to introduce its life insurance product range for including: professional qualifications in life insurance professional membership and the recognition of skills and knowledge that accompany the ANZIIF post-nominal compliance products that ensure insurance professionals meet ASIC requirements and can be productive as soon as possible workshops across a range of foundation, intermediate and advanced subjects related to the industry online professional development management tools. As a Registered Training Organisation (RTO), the Framework (AQF). All qualifications are designed by industry and education experts and are internationally recognised. The qualifications incorporate traditional distance learning education with up-to-date best practice thinking across a range of specialist fields. During their studies, students become student members of the Institute, gaining access to all the professional membership benefits on offer and joining a network of more than 16,000 insurance professionals in over 50 countries. On completion of their Institute qualification, students automatically become fully-qualified members and are able to are recognised as true industry professionals and receive a range of benefits alongside their post-nominal, including access to a Membership Faculty with sector-specific resources to aid professional development, a subscription to the Journal the industry s leading publication, a 30 per cent discount on Institute events, access to more than 200 hours of online continuing professional development content and a range of other services. The Institute s range of practical and comprehensive insurance qualifications are supported by a complete collection of student support services, ensuring that the people who study with us are competent, compliant and confident in their insurance careers. four five 5

4 Career Pathways Insure your career with the Institute The following illustrates the Institute s range of products and pathways COURSES AND QUALIFICATIONS University Pathways pg 29 Passport System pg 9 Merit pg 31 Diploma of Life Insurance pg 28 to enter and develop an expertise in life insurance. LIFE INSURANCE ANZIIF MEMBERSHIP LEVELSpg 9 Fellow CIP Senior Associate CIP membership benefits A RANGE OF MEMBERSHIP BENEFITS INCLUDING: Faculty of Life, Health and Retirement Income Further details pg 7 ANZIIF Membership Insurance is vital. As an insurance professional, you know that modern society couldn t function without it. Shipping, construction, factories, offices, motoring, travel, home ownership, sports events and festivals couldn t happen without insurance. ANZIIF membership is insurance for your career. It gives you access to mentoring and to people to ask for support as well as helping and encouraging you and your career to grow. Being recognised as a professional who is qualified and committed to the industry is the first step in a lifelong career journey. With ANZIIF membership, you are able to demonstrate your knowledge and professionalism through the widely-recognised ANZIIF post-nominal on your business cards, signature and other business stationery. Certificate IV in pg 26 COMPLIANCE Tier 1 pg 16 Associate CIP Affiliate ANZIIF members are recognised as true professionals in their field by their colleagues, their employers and the industry at large. Membership not only supports you when you need it, it also provides the tools you need to continue to succeed. It puts you and your career in front. SO ANZIIF MEMBERSHIP ISN T JUST INSURANCE FOR YOUR CAREER; IT S AN INVESTMENT IN YOUR FUTURE. WORKSHOPS Foundation level to Advanced pg 26 Allied Certified Insurance Professional (CIP) and Faculty of Life, Health and Retirement Income six 6 seven 7

5 ANZIIF POST NOMINALS allied ANZIIF (Allied) affiliate ANZIIF (Aff) associate ANZIIF (Assoc) CIP senior associate ANZIIF (Snr Assoc) CIP FELLOW ANZIIF (Fellow) CIP Stand out from the crowd The ANZIIF post-nominal shows your peers that you ve got what it takes to excel in the industry and in your career. Joining the Institute s community of professionals expands your network and gives you the CERTIFIED INSURANCE PROFESSIONAL (CIP) Institute membership provides a pathway to ensure your commitment to becoming an insurance professional is recognised as you work towards your career goals. The CIP designation represents industry professionals who abide by the ANZIIF Code of recognition to get where you want to go. Ethics, hold an insurance qualification, maintain their skills and knowledge and meet high standards of integrity. All CIP members are required to complete and record a minimum of 25 CIP points of professional development (PD) activities each calendar year (January to December). CIP members include Fellow CIP, Senior Associate CIP and Associate CIP members. These qualified members are also able to join an Institute Faculty. Membership Faculties provide a professional home for members to interact with peers and receive a customised and relevant membership experience. allied affiliate associate senior fellow cip associate cip Allied members Affiliates have cip are valued achieved ASIC Associates have Fellows of the professionals RG 146 Tier 1 or an Institute Senior Associates Institute meet who work in 2 Compliance Certificate IV have an Institute the entry or support the (Australia) or or a recognised Diploma or requirements insurance have completed equivalent. Advanced set out in the industry but the Insurance Diploma or Fellowship do not have Intermediaries a recognised Passport an insurance Qualifying Exam equivalent. System. qualification. (Hong Kong). MORE INFORMATION For more information on Institute membership, including the Fellowship Passport System, please visit eight nine

6 ANZIIF CIP PROGRAM POINTS ALLOCATION The following table illustrates how to gain CIP points required to meet the PD requirements of ANZIIF membership. ACTIVITY EXAMPLES AND FURTHER DETAIL Points gained max. points allowed PROFESSIONAL QUALIFICATION ARTICLE PUBLICATION Completion of module Preparation and publication of an article in a professional journal or online publication 20 points per module 10 points per article ASIC TIER 1 COMPLIANCE ASIG RG146 TIER 2 COMPLIANCE Completion of two AQF award course modules which meet ASIC Compliance requirements Completion of modules 40 points 10 points ATTENDANCE AT INDUSTRY EVENTS (LONG DURATION) Attendance at industry seminars, conferences, workshops or in-house training 1 point per hour or 3 points per half-day 15 points per event ATTENDANCE AT INDUSTRY EVENTS (SHORT DURATION) CPA AUSTRALIA FOUNDATION PROGRAM INDUSTRY GROUP PARTICIPATION INSTITUTE MENTORING PROGRAM INSURANCE AND FINANCIAL SERVICES TRAINING ONLINE PD OVERSEAS MEMBERS CIP PRESENTATION PREPARATION PRESENTATIONS AND SPEECHES Attendance at an industry breakfast/lunch/ evening meeting or discussion group Completion of modules Membership of an insurance/financial services industry board, council or committee Participation as either a mentee or mentor Including attendance at workshops, in-house and face to face training Completion of online interactive PD with self-assessment Demonstrated compliance with PD requirements determined by the industry regulators in your country of residence Preparation of a presentation for a seminar, training course, conference, workshop, breakfast etc Presenting at a seminar, training course, conference, workshop, breakfast etc 1 point per event 15 points per module 5 points per year (pro-rata points apply if not a member for a full calendar year) 1 point per hour 15 points per year 1 point per hour or 3 points per half-day 1 point per hour 15 per activity Up to 25 points 1 point per hour or 3 points per half-day 15 points per year 2 points per event (repeat presentations are not counted) 15 points per year PROFESSIONAL DEVELOPMENT ACTIVITIES Completion of general professional development activities (e.g. IT or management or public speaking training) 1 point per hour or 3 points per half-day 10 points per activity READING INDUSTRY CONTENT Articles, books, journals, online content that is not assessed 1 point per hour 7 points ten 10 eleven 11

7 Be the one in the know Make connections that count ONLINE PROFESSIONAL DEVELOPMENT Develop your skills and knowledge with hundreds of hours of high quality, interactive professional development activities including video, articles and interactive modules, available free to all members for self-paced learning. CONNECT Connect with ANZIIF and its members your peers - via our online community and content channels. ANZIIF ONLINE LIBRARY Gain access to a growing collection of articles, news, essays, features, videos, glossaries and content on a range of insurance, finance, business and management topics. THE JOURNAL The Journal is the leading insurance industry publication, providing up-to-date technical and general information contributed by leaders in their fields. As an Institute member you will receive the Journal magazine five times a year and have access to the online catalogue of past Journal articles. Becoming an Institute member means joining a community of over 16,000 professionals who are career and industry-focused. The Institute also holds hundreds of industry events to allow you to further expand your network in person. Institute members receive a 30 per cent discount to these events. Institute membership not only means access to a huge network of employers, employees and future colleagues, but it also provides access to the Institute s online member services. The Institute s online member services connect you with your professional community and assist you to maintain your skills from anywhere in the world. twelve thirteen

8 Become a member of the Faculty of Life, Health and Retirement income Student membership The journey begins Being an Institute member is one thing; being a member of the Life, Health and Retirement Income Faculty is something extra. As a Faculty member, you re a part of a community of professionals who understand what it is to do the job that you do. Your Faculty membership is the key to a host of resources, from blog posts, technical articles and videos to interactive personal development tools, events and discussion groups, all tailored and designed specifically for your role and your career. Students who enrol in any of the Institute s award-winning qualifications automatically become student members and gain access to the full range of membership benefits. Student membership provides a community of support while you work towards becoming a qualified Institute member. Upon completion of their qualification, students are upgraded to the appropriate membership level at no charge. Professionally qualified CIP members of the Institute (Associate CIP, Senior Associate CIP and Fellow CIP) are immediately eligible to join an industry Faculty. Institute Membership Faculties represent the specific industry qualifications and the career path of each member. To be eligible to join the Life, Health and Retirement Income Membership Faculty, you must have completed one of the following: ANZIIF Diploma of Life Insurance, ANZIIF Certificate IV in, Diploma of Personal Injury Management or a recognised equivalent ANZIIF Diploma of Financial Planning plus three years industry experience in a life insurance, health insurance or retirement income/ superannuation role. Being a part of this Faculty customises your membership experience and allows you to engage with peers on topics of interest based on your field of expertise. As a Faculty member you can join online discussion forums allowing you to engage and debate with other Institute members on industry topics or network and discuss news and relevant information with peers and colleagues around the globe. FIND OUT MORE For more information on the Institute s member services, visit fourteen 14 fifteen 15

9 TIER 1 LIFE INSURANCE [ LI500] FEE A$1080 DURATION DELIVERY OUTCOME 7 weeks Online ASIC RG 146 Tier 1 Life Insurance Compliance Compliance The Corporations Act 2001 (Cth) mandates that licensees and principals ensure that their financial product advisers are competent, skilled, experienced and receive adequate training to provide financial services advice. Australian Securities and Investments Commission Regulatory Guide 146 (ASIC RG 146) sets out minimum training standards for financial product advisers, either at Tier 1 or Tier 2 level, as appropriate to the complexity of their activities and their clients needs. TIER 1 AND TIER 2 COMPLIANCE There are two levels of compliance within ASIC RG 146 Tier 1 and Tier 2. For further details, refer to the ASIC website at TIER 1 COMPLIANCE Tier 1 compliance is compulsory for those giving advice in insurance broking, life insurance, superannuation, financial planning, managed investments, derivatives, securities and personal accident and sickness products. MORE INFORMATION For more information on the Institute s range of compliance solutions, visit TIER 2 COMPLIANCE Tier 2 General Insurance compliance is required for those who provide advice on all general insurance products except personal accident and sickness. Tier 1 is a comprehensive and cost-effective compliance solution that is designed to have customer-facing staff suitably qualified to provide life insurance advice within seven weeks. LEARNING OUTCOMES establish relationships with clients analyse client s objectives, needs, financial situation and risk profile develop appropriate strategies and solutions negotiate financial plan/policy/ transaction with clients coordinate implementation of agreed plan/policy/transaction complete and maintain necessary documentation provide ongoing service where requested by clients. INTERNATIONAL STUDENTS: Should you have any queries regarding these Australian compliance courses, please contact the Customer Service Team at the Institute. sixteen 16 seventeen 17

10 2014 Workshops Workshops and Events FOUNDATION LEVEL pg 20 ADVANCED LEVEL pg 20 The Institute s workshops and events assist those new to life insurance to develop their skills and expand their practical knowledge to provide better service to clients. The Institute s life insurance workshops are also an invaluable refresher for those who are more experienced and would like to sharpen their abilities. Essentials of Life Insurance and Superannuation. Business Advantage: Making Regulation Work for You. CORPORATE AND CUSTOMISED WORKSHOPS Through the Institute s customised education service, you can gain the competitive edge for your organisation by incorporating company culture and products into staff training and compliance workshops and programs. The Institute s Sales Team works with you and your learning and development team and technical experts to develop education products and services tailored to meet your company s specific training needs. The Institute can customise any number of education products from industry qualifications to facilitated workshops to incorporate scenarios, case studies and examples drawn from your own workplace. This not only adds product and company relevance to the materials, but is also a very effective method of retaining organisational knowledge by incorporating it into training programs. The Institute takes great care in customising education products to reflect market conditions. The subject matter and mode of delivery is structured to ensure your employees receive the maximum benefit of training and are able to transfer this learning to the workplace. To ensure that employees are not out of the office too long, the Institute s workshops can be held either on company training sites using facilitators sourced by the Institute or at the Institute s training facilities. MORE INFORMATION For more information on contextualising your workshops and delivery options, our Sales Team at sales@theinstitute.com.au or call (03) (New Zealand Freecall ). MORE INFORMATION For more information on contextualising your workshops and delivery options, our Sales Team at sales@theinstitute.com.au or call (03) (New Zealand Freecall ). eighteen 18 nineteen 19

11 ESSENTIALS OF LIFE INSURANCE AND SUPERANNUATION BUSINESS ADVANTAGE: MAKING REGULATION WORK FOR YOU DURATION Half-day DURATION Half-day Events DELIVERY Facilitated workshop DELIVERY Facilitated workshop FOUNDATION LEVEL WORKSHOPS CIP POINTS LEVEL LOCATIONS 3 CIP points Foundation (Australia only) Available in your nearest capital city This workshop provides an introduction to life insurance in Australia, including the role and fundamental concepts of superannuation. WHO SHOULD ATTEND This program is suitable for participants who are undertaking, or are about to undertake, a career path encompassing life insurance and superannuation. LEARNING OUTCOMES Upon completion of the workshop, participants should be able to: identify and explain recent trends in life insurance and the key underwriting and claims management issues identify and describe life insurance and superannuation to customers identify and explain major risks and CIP POINTS LEVEL LOCATIONS 3 CIP points Advanced (Australia only) Available in your nearest capital city Transform the burdens of regulation into an advantage for your business. This workshop will assist you to develop and manage your company s compliance in a way that does more than merely satisfy regulatory requirements. In this half-day interactive session you will learn how to implement corporate governance procedures which will assist your company to thrive in the Australian regulatory environment. WHO SHOULD ATTEND This workshop is aimed at board, executive and senior management levels where the responsibility for establishing the culture and ethical values of an institution lies. It also affords opportunities for aspiring managers to become aware of the regulatory imperatives and provides insights into how this can be part of the day-to-day business. ADVANCED LEVEL WORKSHOPS These events cover a range of topical subjects featuring guest speakers with years of relevant industry experience. Discounted pricing for each event is offered to Institute members. A selection of 2014 events is listed below. For further details and pricing of these and other events please visit the Institute website at AILA/ ANZIIF LIFE INSURANCE LAW - AN ANNUAL REVIEW ANNUAL LIFE INSURANCE BREAKFAST CELEBRATING SUCCESS DINNER ( NEW ZEALAND) GENERATION i INSURANCE INDUSTRY AWARDS AUSTRALIA AND NEW ZEALAND NEW ZEALAND LIFE CONFERENCE WOMEN SUCCEEDING IN BUSINESS how they can be insured against under life insurance policies LEARNING OUTCOMES describe the key features and benefits of various types of life insurance policies and contracts identify and explain the main acts that govern life insurance and superannuation identify the fundamental concepts of superannuation. At the conclusion of the workshop, participants should be able to: explain the key regulatory requirements of insurance companies establish a culture of honesty, accountability and transparency in the company. twenty 20 twentyone 21

12 AILA/ ANZIIF LIFE INSURANCE LAW AN ANNUAL REVIEW ANNUAL LIFE INSURANCE BREAKFAST AUSTRALIAN INSURANCE INDUSTRY AWARDS NEW ZEALAND INSURANCE INDUSTRY AWARDS LOCATION Sydney LOCATION Sydney LOCATION Sydney LOCATION Auckland MONTH November MONTH October MONTH August MONTH November The law affecting the life insurance sector continues to change rapidly. Jointly presented by the Institute and AILA, this seminar has been created to provide participants with a snapshot of recent court decisions, legislation and commentary on selected legal issues affecting either the general or the life insurance sector in a practical, hands-on manner. This annual networking event tackles the issues that matter most to the life insurance industry, providing real insights and inspiration for life insurance professionals. This event is sure to provide insight, inspiration and ideas for you to take back to the office. The Australian Insurance Industry Awards unites all sectors of the insurance industry to publicly celebrate the highest standards of excellence, professionalism and performance of individuals and organisations. Award winners across 14 categories are celebrated at this night of nights that is attended by over 800 industry leaders and representatives. The New Zealand Industry Awards unites all sectors of the insurance industry to publicly celebrate the highest standards of excellence, professionalism and performance of individuals and organisations. Award winners across 14 categories are celebrated at this night of nights that is attended by over 400 industry leaders and representatives. GENERATION i CELEBRATING SUCCESS DINNER NEW ZEALAND LIFE CONFERENCE WOMEN SUCCEEDING IN BUSINESS LOCATION MONTH Australian capital cities and New Zealand Check the ANZIIF website for details The key objective of the Generation i program is to engender a strong sense of community in young professionals. The program achieves this primarily through a range of regular networking events that make it easy for like-minded professionals to meet and engage with people from other sectors of the industry. Generation i events range from social networking to education and professional development opportunities and career building events. LOCATION Sydney MONTH August This awards dinner celebrates the Institute s Academic Achievement Award winners who excelled in their studies with the Institute, as well as the winners of 2013 ANZIIF scholarships. The occasion also honours ANZIIF members who received Fellowship status in 2013 and acknowledges those who gained Senior Associate level. Celebrating Success is a fantastic opportunity to come together in recognition of the successes of our students, colleagues and the industry as a whole and is a great chance to socialise and network with your peers. LOCATION MONTH New Zealand May check the ANZIIF website for details This annual conference looks at challenges in the industry and key areas of concern for the New Zealand market. Industry experts will impart practical advice, outline complex case studies and comment on what lies ahead. Insightful speakers in a day packed with the latest information make this conference one not to be missed. LOCATION MONTH Australian capital cities and New Zealand Check the ANZIIF website for details Networking events and luncheons promote engagement and the exchange of knowledge and expertise between women across the industry in pursuit of professional excellence and a strong, healthy business environment. These events are a great opportunity for women working in insurance to be inspired, share experiences, network with like-minded professionals and, above all, celebrate career achievements. twentytwo 22 twentythree 23

13 Traineeships Professional Qualifications Traineeships offer the advantage of government funding for those who complete their qualifications. Employers may receive a significant government subsidy, subject to conditions (e.g. previous funding and prior qualifications). Traineeships are an ideal opportunity for individuals who are new to a company and can also further qualify and develop existing staff. Delivered by a mix of distance learning resources, support from Institute staff and coaching by the employer s personnel in the workplace, traineeships provide the flexibility to develop skilled, versatile and productive professionals. Visit for more details. Being an Institute member and holding an Institute qualification is the best insurance for a successful career and a solid future in the industry. The Institute offers professional qualifications at Certificate, Diploma and Advanced Diploma level. These expertly developed qualifications are highly regarded across the industry and provide students with the skills and knowledge necessary to succeed. Once qualified, Institute graduates automatically become full members of the Institute, the premier industry membership body in the Asia-Pacific. To see the range of benefits Institute membership offers please see pg 7. twentyfour twentyfive

14 CERTIFICATE IV IN LIFE INSURANCE FEE DURATION MEMBERSHIP OUTCOME ASIC COMPLIANCE A$1080 per module NZD$1,135 per module LIBF41 Business Fundamentals module: A$250 NZD$270 Five modules: Each study period lasts 12 weeks. (Students are able to study more than one module per study period) Associate CIP RG 146 Tier 1 The Certificate IV in is designed for employees starting out in life insurance. It provides the technical knowledge and skills needed to give quality services to clients. This qualification can be undertaken through a traineeship or distance learning. COURSE CONTENT To be awarded the Certificate IV, students must complete four core modules and one elective module. It is suggested that each module will require hours of study time. CORE MODULES LI401 Products disablement (TPD), income protection, permanent life insurance, annuities and (unbundled) life insurance investment policies. LI402 Customer Service for Provides students with the skills and knowledge to deliver professional services to customers, including responding to inquiries, processing complaints, negotiating sales and maintaining relationships. LI403 Policy Processes Covers the information, skills, regulations and ethics of handling life insurance policies. This module introduces and explains a wide variety of policy processes, from the initial receipt and assessment of a life insurance proposal through to policy administration, alterations and claims. LIBF41 Business Fundamentals Unit This unit looks at the skills and knowledge you need to work with: guidelines procedures legislation ELECTIVE MODULES LI500 Tier 1 compliance providing advice in life insurance This module incorporates the best possible combination of knowledge and practical skills for working in life insurance. It will teach students to analyse client needs, objectives, financial situations and risk profiles to identify appropriate solutions and strategies. Students will also develop essential life insurance product knowledge. LI503 Distribution Covers the skills required to create and document a life insurance product distribution plan. Students will also learn how to action a distribution plan within established parameters, developing marketing tools within budget and measuring ongoing results to inform the strategic reviews. LI505 Underwriting Details the principles and practices of life insurance underwriting. Beginning with the basics of life risk and life insurance proposals, the module proceeds to cover approaches to risk acceptance, risk rating systems, financial and medical underwriting and the role of reinsurance. LI506 Claims Management This module looks at the technical and practical requirements of claims management. It aims to provide participants with the skills required to manage and settle life insurance claims of varying levels of complexity in an efficient and effective manner. FURTHER EDUCATION Upon completion of the Certificate IV, students only need to study two more of the elective modules to obtain the Diploma of. To learn more about the Diploma, visit ENROL To enrol, visit enrol or call on (03) , (New Zealand Freecall ). An introduction to the basic life insurance product types, including term life insurance, trauma cover, total and permanent codes of practice. twentysix twentyseven

15 DIPLOMA OF LIFE INSURANCE FEE DURATION PRE-REQUISITE MEMBERSHIP OUTCOME ASIC COMPLIANCE A$1,080 per module NZD$1,385 per module Seven modules: Each study period lasts 12 weeks. (Students are able to study more than one module per study period.) Certificate IV in Senior Associate CIP RG 146 Compliance The Institute s Diploma of is designed for employees working in life insurance. Successful completion entitles the participant to Senior Associate Certified Insurance Professional (CIP) membership of the Institute. To enrol in the Diploma, students must have previously completed the Institute s Certificate IV in. Students can then complete an additional two elective modules not already studied to be awarded the Diploma. CORE MODULES LI401 Products An introduction to the basic life insurance product types, including term life insurance, trauma cover, total and permanent disablement (TPD), income protection, permanent life insurance, annuities and (unbundled) life insurance investment policies. LI402 Customer Service and Provides students with the skills and knowledge to help them respond to customer inquiries, process customer complaints, deliver professional services to customers and maintain customer relationships. LI403 Policy Processes Covers the information, skills, regulation and ethics of handling life insurance policies. The module introduces and explains a wide variety of policy processes, from the initial receipt and assessment of a life insurance proposal through to policy administration, alterations and claims. LIBF41 Business Fundamental Unit This unit looks at the skills and knowledge you need to perform your everyday job tasks in an effective and efficient manner. The unit also identifies the expected industry professional approaches to working with: guidelines procedures legislation codes of practice. ELECTIVE MODULES LI500 Tier 1 Compliance: Providing Advice in This module incorporates the best possible combination of practical knowledge and required skills for working in life insurance. It will teach students to analyse client needs, objectives, financial situations and risk profiles to identify appropriate solutions and strategies. Students will also develop essential life insurance product knowledge. LI503 Distribution Covers the skills required to create and document a life insurance product distribution plan. Students learn how to action a distribution plan within established parameters, develop marketing tools within budget and measure ongoing results to inform strategic reviews. LI505 Underwriting Details the principles and practices of life insurance underwriting. Beginning with the basics of life risk and life insurance proposals, the module proceeds to cover approaches to risk acceptance, risk rating systems, financial and medical underwriting and the role of reinsurance. LI506 Claims Management This module looks at the technical and practical requirements of claims management. It aims to provide participants with the skills required to manage and settle life insurance claims of varying levels of complexity in an efficient and effective manner. FURTHER EDUCATION Completion of the Diploma provides credit towards the Bachelor of Business (Insurance) at Charles Sturt University (CSU). Deakin University Masters and MBA pathway Senior Associate CIP and Fellow CIP members can be granted direct credit towards the Deakin Graduate Certificate in Insurance and Risk Management, which is the first stage of the following Deakin Masters programs: Masters of Insurance and Risk Management Masters of Business Administration (MBA) Insurance and Risk Management Specialisation Combined Masters of Business Administration and Masters of Insurance and Risk Management. Further information regarding university pathways is available on the Institute s website at pathways. ENROL To enrol, visit the Institute s website at or call on (03) (New Zealand Freecall ). twentyeight 28 twentynine 29

16 Recognition of Prior Learning (RPL) Studying with the Institute Delivery and Assessment DISTANCE LEARNING ASSESSMENT Distance learning provides Each module is assessed students with the flexibility through completion of an to study where they choose assignment comprising a during a study period that best case study and an online suits them. There are six study examination containing periods offered throughout the multiple choice, short answer year, allowing students to plan and case study questions. their study around peak work To successfully complete periods. A complete set an Institute module you of learning materials is are required to submit an provided for each module. assignment and sit an exam. These relate to students To pass students must receive workplace knowledge and at least 50 per cent in both the experience and include case assignment and the exam. studies, self-help questions, activities and additional resources where relevant. If you ve had more than five years experience in the insurance industry, you may be eligible to receive a Certificate IV or Diploma based on Skills Recognition. ANZIIF s Skills Recognition, which is Recognition of Prior Learning (RPL), recognises the value of the skills and knowledge you have gained through employment, training, voluntary positions and general life experience. If you can provide evidence to show that your skills and knowledge match those in a qualification, you will save time and money through receipt of a qualification and membership upgrade. To get qualified, please visit THE FELLOWSHIP BY MERIT PROGRAM The Institute s Fellowship by Merit program recognises people who have made long-lasting and significant contributions to leadership and professional excellence in the insurance industry. Prospective candidates prepare and submit a portfolio detailing their work history with examples of their thought leadership, industry involvement and contribution. Expressions of interest in the program may be made to the Institute for consideration. Applicants should, at a minimum, fulfil the following criteria: a minimum of 15 years in the insurance/finance industry current ANZIIF membership, membership having been continuous for the last five years recognised leader in their field usually operating at CEO, Executive Management, Divisional, Regional or State Manager level applicants may be specialists in their field and/or owners, managers or consultants who have practised for ten years or more and have a high degree of skill and expertise be a respected member of the insurance and financial services community who leads by example with integrity and displays a commitment to high standards of professionalism. For further information about the Fellowship by Merit pathway, contact Bronwyn Mills, Manager, Accreditation, Pathways and Consultancy. Telephone (61 3) or bmills@theinstitute. com.au. thirty 30 thirtyone 31

17 Study Support The true value of studying with the Institute and what distinguishes it from other education providers is the comprehensive and supportive learning environment provided. The Institute offers the following support to assist you while you are studying. STUDENT SUPPORT STAFF To ensure that you get the most out of your learning experience, the Institute s dedicated Student Support staff are available to provide you with guidance and assistance while you work towards your qualification. SUBJECT MATTER EXPERTS The Institute has subject matter experts to assist students throughout their studies. Contacted via through Student Support, they hold a wealth of financial services knowledge and respond to requests for assistance within one to two business days. THE LATEST LEARNING RESOURCES All Institute modules have comprehensive printed learning resources that provide substantial technical detail and include accompanying self-help questions and answers. Many modules have online learning materials to use in addition to the printed materials, providing an opportunity for peer learning. ONLINE SUPPORT AND REFERENCES The Institute provides a range of online materials and services designed to support and assist you to learn effectively and apply your knowledge and skills in the workplace. This includes online discussion forums which you can use to submit inquiries regarding your studies and receive answers from an industry expert. The Institute s website also features guidelines for writing assignments and preparing for exams and a glossary of financial services terminology. TUTOR PROGRAM The Institute s Tutor Program provides access to experienced and qualified insurance professionals in a one-on-one tutoring situation to support you with your studies. Tutors are experts in their fields and are ready and able to provide assistance and guidance with studies. STUDENT NEWSLETTERS Institute student newsletters provide the latest information on your qualification module and assessment requirements, learning and study tips and upcoming workshops and conferences. FURTHER INFORMATION For more information on studying with the Institute, visit FOR STUDENTS IN NEW ZEALAND NZQA ACCREDITATION Based on industry feedback, the Institute no longer offers the New Zealand National Certificate in Financial Services Level 4 or Level 5 programs. We will continue to monitor industry appetite for these programs and if there is sufficient market interest in future, we will reconsider our position. Please do not hesitate to contact our Customer Service team should you have any further queries The formation of Australia s first insurance institutes, namely those of Victoria and of New South Wales The formation of the Incorporated Australian Insurance Institute (IAII) The Journal was circulated to subscribers Insurance Institute of New Zealand (IINZ) formed when Insurance Officers Guild and Faculty of Insurance merged Ernest Vines Memorial Award established to commemorate the memory of the late Secretary AII and IINZ members vote to merge the two associations and become the Australian and New Zealand Institute of Insurance and Finance The first Australian Insurance Industry Awards are held in Sydney Prue Willsford appointed as CEO of ANZIIF The Insurance Institute of SA was formed. George Boothby was elected as the new Institute s president Insurance Officers Guild of New Zealand formed and the first AII Annual Conference was held on 24th March 1920 in Melbourne Faculty of Insurance formed in New Zealand The death of Ernest Vines, Secretary of the Incorporated Australian Insurance Institute from 1919 to Joan Fitzpatrick appointed CEO of (AII) and remained CEO for 16 years The State based Institutes become federalised under the national office The Australian & New Zealand Institute of Insurance & Finance opens an office in China. thirtytwo 32 thirtythree 33

18 STREAM A 2014 Academic Calendar JANUARY FEBRUARY MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER JANUARY PERIOD 1 28/ 01 Study Period Commences 25/ 02 Enrolment Change Cut-Off 11/ 03 Assignment Due 03/ 04 Assignment Results 10/ 04 Exam 29/ 04 Results STREAM B PERIOD 1 06/ 03 Study Period Commences 08/ 04 Enrolment Change Cut-Off 22/ 04 Assignment Due 15/ 05 Assignment Results 22/ 05 Exam 10/ 06 Results STREAM A PERIOD 2 01/ 05 Study Period Commences 17/ 06 Enrolment Change Cut-Off 01/ 07 Assignment Due 24/ 07 Assignment Results 31/ 07 Exam 19/ 08 Results STREAM B PERIOD 2 10/ 07 Study Period Commences 19/ 08 Enrolment Change Cut-Off 02/ 09 Assignment Due 02/ 10 Assignment Results 09/ 10 Exam 28/ 10 Results Students must enrol before the study period commences to ensure access to study materials. Our Accelerated Courses and Bridging Modules run approximately every two weeks. For more information about enrolling, please visit the Institute s website STREAM A PERIOD 3 21/ 08 Study Period Commences 07/ 10 Enrolment Change Cut-Off 21/ 10 Assignment Due 13/ 11 Assignment Results 20/ 11 Exam 09/ 12 Results STREAM B PERIOD 3 13/ 11 Study Period Commences 08/ 01 Enrolment Change Cut-Off 15/ 01 Assignment Due FEBRUARY 05/ 02 Assignment Results 12/ 02 Exam MARCH / 03 Results

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