Insurance Industry Qualifications

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1 Insurance Industry Qualifications 2015 i

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3 In one of the world s most dynamic industries, knowledge, technical skill, creativity and professional relationships are what make for truly great performers. Through education, career development opportunities and a professional community of 16,000 people across the globe, the Australian and New Zealand Institute of Insurance and Finance sets insurance professionals apart. ANZIIF is your partner at every step of your insurance career journey. Begin yours at theinstitute.com.au theinstitute.com.au 1

4 Build your career in General Insurance Compliance requirements Available options to fulfil compliance needs include: Tier 2 General Insurance (General & Personal Advice) Online, 6 hours, Affiliate membership Completion meets ASIC requirements for providing personal advice (including general advice) to retail clients about general insurance products and services (other than personal accident and sickness). Tier 2 General Insurance (General Advice) Online, 6 hours, Affiliate membership Completion meets ASIC requirements for providing general advice to retail clients about general insurance products and services (other than personal accident and sickness). Tier 1 General Insurance Personal, Sickness & Accident (part of Certificate IV in General Insurance) Distance learning, 2 modules, Affiliate membership Completion meets ASIC requirements for providing advice in general insurance personal, sickness and accident. Gain skills and knowledge in insurance fundamentals, legal principles and regulatory obligations. 2

5 Beginning your career Certificate III in General Insurance Distance learning, months Affiliate membership Tier 2 General Insurance (Personal and General Advice) Federal funding may be available The starting point for school leavers or anyone wishing to develop a career in insurance at entry level, the Certificate III traineeship is an employment-based training program that gives a solid introduction to the insurance industry and provides a foundation for further development. Completion of the Certificate III meets the requirements of ANZIIF Affiliate membership. Topics include: Working in an Office Environment The Insurance Market The Legal Environment The Insurance Contracts Act The Corporations Act Privacy Code of Practice and Dispute Resolution Working with Clients Claims Certificate IV in General Insurance 6 distance learning modules at up to 12 weeks each Associate (CIP) membership Tier 1 Personal Accident and Sickness (General Insurance) The Certificate IV in General Insurance is a great start to a career in insurance and is the essential qualification for those who handle claims, issue domestic insurance contracts, deal with customer inquiries, appoint intermediaries to investigate standard claims and initiate claims recovery. Completion of the Certificate IV meets the requirements of ANZIIF Associate (CIP) membership. Topics include: Serving the General Insurance Customer General Insurance Law and Regulation General Insurance Products Introduction to General Insurance Underwriting General Insurance Claims Handling ANZIIF s Recognition of Prior Learning (RPL) recognises the value of the skills and knowledge gained through employment, training, voluntary positions and general life experience. Attending Generation i, Leaders of the Pack events Attending an Introduction to General Insurance workshop theinstitute.com.au 3

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7 Building your career Diploma of General Insurance Prerequisite: Certificate IV in General Insurance 4 distance learning modules at 12 weeks each Senior Associate (CIP) membership Specialise in liability, personal lines, commercial lines or marine The Diploma of General Insurance is designed for general insurance employees who lead a claims or underwriting team, handle complex claims, underwrite complex risks, initiate and respond to legal action in relation to claims, survey risk exposure, implement claims recovery and review portfolio performance. Completion of the Diploma meets ANZIIF Senior Associate (CIP) membership. Topics include: Liability Claims and Underwriting Management Personal Lines Claims and Underwriting Management Commercial Lines Claims and Underwriting Management Marine Claims and Underwriting Management Reinsurance Risk Management Building your network at ANZIIF events Connecting with the online insurance community Getting a career mentor Furthering your learning through workshops, online activities and the ANZIIF Members Centre Attending the annual AICLA/ANZIIF Claims Convention Next steps in your career University pathways ANZIIF provides credit pathways towards undergraduate and post-graduate degrees at universities such as Charles Sturt University (CSU) and Deakin University. Contributing your knowledge to the community through the Journal and Members Centre Becoming a mentor in ANZIIF s Mentor Program Obtaining recognition through scholarships and academic awards Getting involved with ANZIIF s councils and advisory boards Attending the bi-annual Reinsurance Rendezvous conference Attending the Risk Rendezvous conference theinstitute.com.au 5

8 Build your career in Insurance Broking Compliance requirements Tier 1 Insurance Broking Online, 7 weeks, Affiliate membership Completion meets ASIC requirements for providing insurance broking advice. Gain skills and knowledge in: Financial and insurance markets Being a broker Identifying and assessing client needs Developing an insurance program and advising clients Managing insurance placements Managing client information and providing ongoing service Codes of practice and dispute resolution Monitoring and reviewing service performance 6

9 Beginning your career Certificate III in Insurance Broking Distance learning, months Affiliate membership Tier 2 General Insurance (Personal and General Advice) Federal funding may be available The starting point for school leavers or anyone wishing to develop a career in insurance at entry level, the Certificate III traineeship is an employment-based training program that gives a solid introduction to the insurance industry and provides a foundation for further development. Topics include: Working in an Office Environment The Insurance Market The Legal Environment The Insurance Contracts Act The Corporations Act Privacy Code of Practice and Dispute Resolution Working with Clients Claims ANZIIF s Recognition of Prior Learning (RPL) recognises the value of the skills and knowledge gained through employment, training, voluntary positions and general life experience. Attending Generation i, Leaders of the Pack events Attending an Introduction to General Insurance workshop theinstitute.com.au 7

10 Building your career Diploma of Insurance Broking 5 distance learning modules at 12 weeks each Senior Associate (CIP) membership Tier 1 Insurance Broking The Diploma of Insurance Broking is designed for employment as a client-facing broker. It provides the technical knowledge and skills required to effectively provide quality insurance services to clients. Completion of the Diploma meets the requirements of ANZIIF Senior Associate (CIP) membership. Topics include: Providing Customer Advice Insurance Law and Regulation for Brokers Claims Handling for Insurance Brokers Risk Assessment and Management Managing Insurance Broking Operations Building your network at ANZIIF events Connecting with the online insurance community Getting a career mentor Furthering your learning through workshops, online activities and the ANZIIF Members Centre Attending the Sunshine Seminar Next steps in your career University pathways ANZIIF provides credit pathways towards undergraduate and post-graduate degrees at universities such as Charles Sturt University (CSU) and Deakin University. Contributing your knowledge to the community through the Journal and Members Centre Becoming a mentor in ANZIIF s Mentor Program Obtaining recognition through scholarships and academic awards Getting involved with ANZIIF s councils and advisory boards 8 theinstitute.com.au

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12 Rist managemen Build your career in Risk Management 10

13 Beginning your career Building your career ANZIIF s Recognition of Prior Learning (RPL) recognises the value of the skills and knowledge gained through employment, training, voluntary positions and general life experience. Attending Generation i, Leaders of the Pack events Diploma of Integrated Risk Management Diploma of Integrated Risk Management Public Sector 5 distance learning modules at up to 12 weeks each Senior Associate (CIP) membership The Diploma of Integrated Risk Management provides cross-industry competencies for specialist risk management activities in a range of organisations. Completion of the Diploma meets requirements of ANZIIF Senior Associate (CIP) membership. Topics include: Introduction to Risk Management Integrated Management (general Diploma only) Operational Management of Risk Management of Specific Risk Exposures Introduction to General Insurance (public sector Diploma only) Building your network at ANZIIF events Connecting with the online insurance community Getting a career mentor Furthering your learning through workshops, online activities and the ANZIIF Members Centre Next steps in your career University pathways ANZIIF provides credit pathways towards undergraduate and post-graduate degrees at universities such as Charles Sturt University (CSU) and Deakin University. Contributing your knowledge to the community through the Journal and Members Centre Becoming a mentor in ANZIIF s Mentor Program Obtaining recognition through scholarships and academic awards Getting involved with ANZIIF s councils and advisory boards theinstitute.com.au 11

14 life insurance Build your career in Life Insurance Compliance requirements Tier 1 Life Insurance Online, 7 weeks, Affiliate membership Completion meets ASIC requirements for providing life insurance advice. Gain skills and knowledge in: Establishing relationships with clients Analysing clients objectives, needs, financial situation and risk profile Developing appropriate strategies and solutions Negotiating financial plan/policy/ transaction with clients Coordinating implementation of agreed plan/policy/transaction Completing and maintaining necessary documentation Providing ongoing service where requested by clients 12

15 Beginning your career Certificate IV in Life Insurance 5 modules at up to 12 weeks each Distance learning or traineeship Associate (CIP) membership Tier 1 Life Insurance option The Certificate IV in Life Insurance is designed for professionals starting out in Life Insurance. It provides the technical knowledge and skills needed to give quality services to clients. Completion of the Diploma meets the requirements of ANZIIF Associate (CIP) membership. Topics include: Life Insurance Products Customer Service for Life Insurance Life Insurance Policy Processes Tier 1 Life Insurance Life Insurance Distribution Life Insurance Underwriting Life Insurance Claims Management ANZIIF s Recognition of Prior Learning (RPL) recognises the value of the skills and knowledge gained through employment, training, voluntary positions and general life experience. Attending Generation i, Leaders of the Pack events theinstitute.com.au 13

16 Building your career Diploma of Life Insurance Prerequisite: Certificate IV in Life Insurance 2 modules at up to 12 weeks each Senior Associate (CIP) membership Tier 1 Life Insurance option Building on the Certificate IV in Life Insurance, the Diploma in Life Insurance can be completed with the addition of two modules. Completion of the Diploma meets the requirements of ANZIIF Senior Associate (CIP) membership. Topics include: Tier 1 Life Insurance Life Insurance Distribution Life Insurance Underwriting Life Insurance Claims Management Building your network at ANZIIF events Connecting with the online insurance community Getting a career mentor Furthering your learning through workshops, online activities and the ANZIIF Members Centre Next steps in your career University pathways ANZIIF provides credit pathways towards undergraduate and post-graduate degrees at universities such as Charles Sturt University (CSU) and Deakin University. Contributing your knowledge to the community through the Journal and Members Centre Becoming a mentor in ANZIIF s Mentor Program Obtaining recognition through scholarships and academic awards Getting involved with ANZIIF s councils and advisory boards 14 theinstitute.com.au

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18 Build your career in Loss Adjusting loss adjusting 16

19 Beginning your career Building your career ANZIIF s Recognition of Prior Learning (RPL) recognises the value of the skills and knowledge gained through employment, training, voluntary positions and general life experience. Attending Generation i, Leaders of the Pack events Diploma of Loss Adjusting 9 distance learning modules at up to 12 weeks each Senior Associate (CIP) membership Includes AICLA s Certificate in Loss Adjusting Practice The Diploma of Loss Adjusting has been developed in collaboration with the Australasian Institute of Chartered Loss Adjusters (AICLA). AICLA is a leading professional body for loss adjusters in Australia, New Zealand and Asia. Completion of the Diploma of Loss Adjusting is the educational basis for Associate membership of AICLA and Chartered Loss Adjuster status. For more information, visit AICLA s website at Completion of the Diploma also meets the requirements of ANZIIF Senior Associate (CIP) membership. Topics Include: Introduction to Loss Adjusting* Loss Adjusting Practice* Property and Casualty Loss Adjustment* Loss Adjusting Law and Regulation* Managing Operations Negotiating Effective Settlements Business Interruption Loss Adjustment Liability Loss Adjustment Building Loss Adjustment Theft, Money and Fidelity Loss Adjustment Construction Loss Adjustment * AICLA Certificate in Loss Adjusting Practice Building your network at ANZIIF events Connecting with the online insurance community Getting a career mentor Furthering your learning through workshops, online activities and the ANZIIF Members Centre Next steps in your career University pathways ANZIIF provides credit pathways towards undergraduate and post-graduate degrees at universities such as Charles Sturt University (CSU) and Deakin University. Contributing your knowledge to the community through the Journal and Members Centre Becoming a mentor in ANZIIF s Mentor Program Obtaining recognition through scholarships and academic awards Getting involved with ANZIIF s councils and advisory boards theinstitute.com.au 17

20 Build your career in Personal Injury Management personal injur management 18

21 Beginning your career Building your career ANZIIF s Recognition of Prior Learning (RPL) recognises the value of the skills and knowledge gained through employment, training, voluntary positions and general life experience. Attending Generation i, Leaders of the Pack events Diploma of Personal Injury Management 5 distance learning modules at up to 12 weeks each Senior Associate (CIP) membership The Institute s Diploma of Personal Injury Management is designed for personal injury management claims and underwriting personnel. Develop the technical knowledge and skills required to provide quality personal injury management for all schemes, in all jurisdictions in Australia including the self-insurance environment. Completion of the Diploma meets the requirements of ANZIIF Senior Associate (CIP) membership. Topics include: Personal Injury Statutory Framework Personal Injury Law and Regulation Personal Injury Claims Management Personal Injury Case Management Building your network at ANZIIF events Connecting with the online insurance community Getting a career mentor Furthering your learning through workshops, online activities and the ANZIIF Members Centre Next steps in your career University pathways ANZIIF provides credit pathways towards undergraduate and post-graduate degrees at universities such as Charles Sturt University (CSU) and Deakin University. Contributing your knowledge to the community through the Journal and Members Centre Becoming a mentor in ANZIIF s Mentor Program Obtaining recognition through scholarships and academic awards Getting involved with ANZIIF s councils and advisory boards theinstitute.com.au 19

22 Study Support ANZIIF offers comprehensive support to insurance professionals during their studies. While studying with the Institute, you will receive complimentary membership to access the full range of benefits available to members. 20

23 Student support staff To ensure that the most is made of the learning experience, ANZIIF s dedicated Student Support staff are available to provide guidance and assistance while professionals work towards a qualification. Student Support provides assistance ranging from explaining assignment requirements and making the most of online study and mentoring, to advising on credit transfers and education pathways. Distance learning Distance learning provides insurance professionals with the flexibility to study where they choose during a study period that best suits them. There are six study periods offered throughout the year, allowing professionals to plan their study around peak work periods. A complete set of learning materials is provided for each module. These relate to workplace knowledge and experience and include case studies, self-help questions, activities and additional resources where relevant. Assessment Each module is assessed through completion of an assignment comprising a case study and an online examination containing multiple choice, short answer and case study questions. Successful completion of an ANZIIF module requires submission of an assignment and sitting an exam. To pass, each piece of assessment must be awarded a mark of at least 50 per cent. Professionals studying with ANZIIF have access to assignment feedback and results via the Institute s online Study Centre. Results will also be recorded in their national Unique Student Identifier (USI) account. Subject matter experts ANZIIF has subject matter experts on hand to assist professionals 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 modules have comprehensive printed learning resources that provide substantial technical detail and include accompanying self-help questions and answers. ANZIIF s subject matter experts are drawn from the who s who of financial services. 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 insurance professionals to learn effectively and apply their knowledge and skills in the workplace. This includes online discussion forums for inquiries on study topics, which will be responded to by an industry expert. The ANZIIF website also features guidelines for writing assignments and preparing for exams and a glossary of financial services terminology. Tutor Program ANZIIF s Tutor Program provides access to experienced and qualified insurance professionals for one-on-one tutoring. Tutors are experts in their fields and are available to provide assistance and guidance with studies. Student newsletters Student newsletters provide the latest information on qualification module and assessment requirements, learning and study tips, as well as upcoming workshops and conferences. Recognition of prior learning (RPL) Professionals with more than five years experience in the insurance industry may be eligible to receive a Certificate IV or Diploma based on skills recognition. ANZIIF s Recognition of Prior Learning (RPL) allows the skills and knowledge gained through employment, training, volunteering and life experience to be put towards attainment of an Institute qualification. If evidence can be provided to show that skills and knowledge match those in a qualification, time and money can be saved through receipt of a qualification and membership upgrade. theinstitute.com.au 21

24 Career Support ANZIIF is committed to providing support to insurance professionals throughout their careers, not just while studying. Institute members are recognised as committed industry professionals and enjoy a host of benefits that facilitate successful, fulfilling careers in insurance and finance. 22

25 ANZIIF post-nominal An Institute post-nominal allows those in the insurance industry to stand out from the crowd and show peers that they ve got what it takes to succeed. Through our Certified Insurance Professional (CIP) program, the industry benchmark for professionalism, insurance professionals demonstrate their commitment to a successful career in insurance. The Journal The longest-running and most widely read insurance publication in the Asia-Pacific region, the Journal, keeps members up-to-date on industry issues, trends, people and events. ANZIIF members receive the Journal magazine throughout the year and have access to the online version of the publication. Members Centre Members gain access to an ever-growing collection of insurance and financial content designed to support their professional development. The Members Centre features a collection of articles, forums, news, essays and videos on a range of topics, all designed to help you to maintain and develop your skills and knowledge. Faculties Faculties represent the specific industry qualifications and career path of each member. Being a part of a Faculty customises membership experience in the Members Centre and allows professionals to engage with peers, while receiving updates on topics of interest based on their area of expertise. Industry connections and events Becoming an ANZIIF member opens up a community of 16,000 career and industry-focused professionals from across the world. Members can connect with each other through the Members Centre or in person at one of the conferences, seminars, breakfasts, luncheons, workshops or other events held across Australia, New Zealand and other countries in the Asia-Pacific region. ANZIIF also hosts the annual Australian Insurance Industry Awards and New Zealand Insurance Industry Awards, great events to mix with the most influential insurance professionals in the business. ANZIIF members receive a 30 per cent discount at all ANZIIF events. A full list of our upcoming events can be found online. Mentoring program ANZIIF s Mentoring Program is a free service offered to members that aims to bring together senior members of the industry and less experienced industry professionals who are keen to advance their learning and career development. Over a three-month period, mentors provide mentees with professional development, support and career guidance and help them to build personal confidence and valuable networking skills. Community ANZIIF s social media channels give insurance professionals access to an online community across LinkedIn, Facebook, Twitter and Google+. Integrated with the Members Centre, dedicated social media channels help members to build networks and stay informed, grow ideas and support the career journey of other insurance professionals in all corners of the globe and at all stages of their careers. Giving back to the industry Insurance is about people clients, colleagues and communities. That s why ANZIIF offers its senior members the opportunity to give back by joining one of our advisory committees, becoming mentors, contributing to the Journal or participating in Generation i events to guide younger members coming into the industry. Generation i ANZIIF s Generation i program engenders a strong sense of community among young insurance professionals through networking and career development events and opportunities for industry professionals under 35. Women in Insurance The ANZIIF Women s Council supports community engagement and the exchange of knowledge and expertise between women across the industry through research, events and the promotion of gender diversity. A targeted Women in Insurance LinkedIn group allows members to connect with each other and discuss issues relevant to them as women in the industry. theinstitute.com.au 23

26 Academic Calendar Study Period 1 Stream A Starts January 2015 Stream B Starts March /01 Study Period Commences 05/03 Study Period Commences 03/03 Enrolment Change Cut-off 07/04 Enrolment Change Cut-off 17/03 Assignment Due 21/04 Assignment Due 09/04 Assignment Results 14/05 Assignment Results 16/04 Exam 21/05 Exam 05/05 Results 09/06 Results Study Period 2 Stream A Starts May 2015 Stream B Starts July /05 Study Period Commences 09/07 Study Period Commences 23/06 Enrolment Change Cut-off 18/08 Enrolment Change Cut-off 07/07 Assignment Due 01/09 Assignment Due 30/07 Assignment Results 01/10 Assignment Results 06/08 Exam 08/10 Exam 25/08 Results 27/10 Results Study Period 3 Stream A Starts August 2015 Stream B Starts November /08 Study Period Commences 12/11 Study Period Commences 13/10 Enrolment Change Cut-off 14/01/16 Enrolment Change Cut-off 27/10 Assignment Due 21/01/16 Assignment Due 19/11 Assignment Results 11/02/16 Assignment Results 26/11 Exam 18/02/16 Exam 15/12 Results 08/03/16 Results 24 theinstitute.com.au

27 For detailed course information and to enrol in your chosen course visit theinstitute.com.au 25

28 The Australian and New Zealand Institute of Insurance and Finance AUSTRALIA Level Bourke Street Melbourne VIC 3000 Australia +61 (3) NEW ZEALAND Level 1 29 Enfield Street Auckland, New Zealand Customer Service freecall (9) customerservice@theinstitute.com.au theinstitute.com.au 26