ANZIIF Insurance Broking Studies
ANZIIF. GROWING CAREERS.
ANZIIF INSURANCE BROKING STUDIES 1 Established more than 130 years ago, ANZIIF is the leading membership, education, training and professional development organisation for insurance and finance in the Asia-Pacific region. Learning and professional development are vital to growing careers and to achieving ongoing success. Formal qualifications enhance professional credibility and develop skill sets which ultimately adds value to customers, by ensuring you can provide a seamless claims experience. This philosophy is the essence of ANZIIF as we support our everchanging industry through education and professional development. Education is the key to improving your capability of being a proficient claims professional, while strengthening your professional standing. We offer a variety of professional development options to suit all levels of experience. Invest in your education by undertaking an ANZIIF qualification and excel in your career.
Sincerely
Prue Willsford Chief Executive Australian and New Zealand Institute of Insurance and Finance
2 ANZIIF INSURANCE BROKING STUDIES 2020 NIBA As a delegate of the 2020 NIBA Convention Entries close VIRTUAL go in the draw to win two ANZIIF skills units. CONVENTION Enter the draw here anziif.com/niba2020 6th November COMPETITION You must be a NIBA delegate to win, however 2020 we are happy for you to give this prize to someone else of your choice.
ANZIIF INSURANCE BROKING STUDIES 3 Why study?
Stand out Career Stay from the progression relevant competition
Provide a stress Increase Improve free claims customer business experience confidence performance
4 ANZIIF INSURANCE BROKING STUDIES What to study?
ANZIIF offers a variety of study options for insurance professionals including: WHAT ARE SKILLS UNITS? • Skills Units Skills Units are online, flexible and can be • Short Courses completed in 5-7 weeks. Skills Units focus • ANZIIF Certificates on specific insurance skills and utilise • AQF Qualifications real-world scenarios. They can be studied individually or combined to attain a range • Recognition of Prior Learning. of qualifications. ANZIIF study options are structured into three groups based on experience level: HOW TO ENROL Visit anziif.com/education to enrol online or to access further information on ANZIIF’s education offerings.
SUPPORT
LEVEL 1 LEVEL 2 LEVEL 3 If you have any queries, please contact Foundation Intermediate Specialised Customer Service on +61 9613 7200 or email Knowledge Knowledge Knowledge [email protected] 0-1 year’s experience 2-3 years’ experience 4+ years’ experience
ANZIIF INSURANCE BROKING STUDIES 5 ANZIIF Certificates
All Skills Units can be taken as standalone units or combined to complete an ANZIIF Certificate. The full list of Skills Units is available at anziif.com/skills-units ANZIIF offers a variety of study options for insurance broking professionals from standalone Skills Unit short courses to the qualifications listed below. The ANZIIF Certificates give the student the option of selecting from a variety of Skills Units until the credit points are reached to attain the formal qualification (40 points for ANZIIF Foundation Certificate and 80 points for ANZIIF Professional and Executive Certificates). The AQF Diploma of Insurance Broking consists of six compulsory units and three electives, whereas the AQF Certificate III in Insurance Broking is a 12-18 month traineeship. Recommended insurance industry Certificate knowledge Certificate format
ANZIIF Foundation Certificate in Insurance Foundation Select from a variety of Skills Unit options (total 40 credit points)
ANZIIF Professional Certificate in Insurance Intermediate Select from a variety of Skills Unit options (total 80 credit points)
ANZIIF Executive Certificate in General Insurance Broking Specialised Select from a variety of Skills Unit options (total 80 credit points)
AQF Diploma of Insurance Broking (FNS51215) Intermediate Six compulsory Skills Units and three elective Skills Units
AQF Certificate III in Insurance Broking (FNS30615) Prior knowledge required 12-18 months traineeship
6 ANZIIF INSURANCE BROKING STUDIES ANZIIF Foundation Certificate in Insurance
Attainable membership level: Affiliate ANZIIF Foundation Certificate Insurance ANZIIF’s Foundation Certificate in Insurance is designed for insurance professionals who have just started their career in insurance or Complete 40 credit points from any who have recently graduated from universities. of the following foundation Skills Units This certificate provides students with a solid understanding of the insurance industry and a foundation for future development. • General insurance essentials 5 pts • Introduction to general insurance 5 pts The ANZIIF Foundation Certificate in Insurance • Privacy act 5 pts comprises 40 credit points from any foundation • Insurance brokers code of practice 5 pts (level 1) Skills Units. • Insurance contracts act & competitive and consumer act 5 pts • Receive and record or register a claim 10 pts • Understand and apply insurance terminology 10 pts Visit anziif.com/foundcertinsurance • Use medical terminology in an insurance context 10 pts for further information and to enrol • Business fundamentals for general insurance 10 pts • Business fundamentals for financial services 10 pts
ANZIIF INSURANCE BROKING STUDIES 7 ANZIIF Professional Certificate in Insurance
Attainable membership level: Associate ANZIIF Professional Certificate in Insurance Designed for insurance professionals with two or more years’ work experience, students will obtain the skills and knowledge to assist a claims or Complete 80 credit points from any of underwriting team prepare and maintain relevant the following intermediate Skills Units documentation and answer customer enquiries. • Analyse insurance claims10 pts The ANZIIF Professional Certificate in Insurance • Understand general insurance products and policies 10 pts comprises 80 credit points from any intermediate • Introduction to underwriting 10 pts (level 2) Skills Unit. • Understand the core processes of underwriting 10 pts • Issues of renewal business 10 pts • Understand reinsurance 10 pts Visit anziif.com/profcertinsurance for further information and to enrol • Serving the customer 10 pts • Resolve disputes 10 pts • Communicating and discussing options with clients 10 pts • Understand life insurance products and policies 10 pts • Manage and interpret financial results 10 pts • Deliver professional insurance broking services 10 pts • General insurance law and regulation for brokers 10 pts • General insurance law and regulation 10 pts • Provide professional insurance broking services and advice (ASIC RG146 Tier 1) 10 pts • Provide Tier 1 general insurance advice 10 pts • Resolve disputes - life insurance 10 pts • Understand and apply insurance terminology - life insurance 10 pts • Tier 1 life insurance 10 pts • Contribute to the life risk underwriting process 10 pts
8 ANZIIF INSURANCE BROKING STUDIES ANZIIF Executive Certificate in General Insurance Broking
ANZIIF Executive Certificate in General Insurance Broking Attainable membership level: Senior Associate
This qualification is designed for A minimum 40 credit points from any Complete 40 credit points from experienced insurance professionals specialised General Insurance Broking units. any specialised units. with four or more years’ work Each unit is worth 10 credit points. Each unit is worth 10 credit points. experience, or for those who specialise or wish to specialise in insurance • Analyse and amend a broking client’s • Manage group life insurance claims insurance program broking. Students will acquire the • Manage life insurance claims • Prepare a submission for new business • Evaluate life insurance claims skills to lead a insurance broking team, • Review and improve service performance • Settle life insurance claims analyse and determine a customer’s • Negotiate broking client claims • Manage liability claims needs and risk profile, negotiate the • Manage changes to a broking client’s • Settle liability claims insurance program • Issue liability insurance contracts terms and conditions of a policy, • Establish broking client loss control programs • Review a liability portfolio effectively manage and settle insurance • Manage personal claims claims on behalf of a customer; and • Settle personal claims provide quality ongoing insurance • Issue personal lines insurance contracts broking services to customers. • Review a personal lines insurance • Manage industrial special risks claims The ANZIIF Executive Certificate in • Settle industrial special risks claims • Manage business interruption claims General Insurance Broking comprises • Settle business interruption claims 80 credit points. • Issue industrial special risks contracts • Review an ISR portfolio • Issue consequential loss/business interruption contracts Visit anziif.com/execcertgibroking • Review a business interruption portfolio for further information and to enrol • Inspect damage and develop scope of work • Negotiate treaty reinsurance • Analyse the insurance market • Undertake risk identification • Assess risk
ANZIIF INSURANCE BROKING STUDIES 9 AQF Certificate III in Insurance Broking (FNS30615)
The starting point for school leavers or 1. Working in an office environment anyone wishing to develop a career in insurance at entry level, the Certificate III 2. The insurance environment traineeship is a government-subsidised, employment-based training program that 3. The legal environment gives new entrants a solid introduction to the insurance industry and provides a 4. The Insurance Contracts Act foundation for further development. The Certificate III in Insurance Broking is divided 5. The Corporations Act into the following eleven sections. 6. Privacy Visit anziif.com/cert3broking for further information and to enrol 7. Codes of Practice and dispute resolution
8. Working with clients – information collection
9. Working with clients – solutions
Current students 10. Tier 2 Personal advice for brokers also receive complimentary access to: 11. Claims the Insurance Broking Code of Practice course, Privacy Act, Tier 2 General & Personal Advice and General Insurance Code of Practice course.
10 ANZIIF INSURANCE BROKING STUDIES AQF Diploma of Insurance Broking (FNS51215)
Attainable membership level: Senior Associate Diploma in Insurance Broking FNS51215 AQF Diploma ofInsurance Broking (FNS51215) is designed for insurance broking professionals with four or more years Must complete six compulsory units Choose three elective units of experience working in small or large broking businesses with retail and/or Provide professional Undertake risk insurance broking services identification commercial clients. and advice – ASIC Tier 1 Students must complete six compulsory Prepare a submission Assess risk units and three electives for diploma for new business qualification. Analyse and amend Understanding general a broking client’s insurance products Visit anziif.com/dipbroking for further insurance program and policies information and to enrol Negotiate broking Analyse the client claims insurance market
General insurance law Review and improve and regulation service performance for brokers
Establish broking client loss control programs
ANZIIF INSURANCE BROKING STUDIES 11 Recognition of Prior Learning (RPL)
Recognition of Prior Learning (RPL) is a government recognised qualification option that allows an individual’s relevant prior learning (employment training, volunteering, life experience, etc.) to be used towards the attainment of an Australian Qualifications Framework (AQF) qualification such as the Diploma in Insurance Broking and/or membership.
Expressions of interest may be submitted to determine eligibility.
Visit anziif.com/rpl for further information on the RPL process.
12 ANZIIF INSURANCE BROKING STUDIES Compliance accreditations
ANZIIF offers a range of Australian Securities and Investments Commission Regulatory Guide 146 (ASIC RG146) compliance solutions for financial services professionals. All courses are online, interactive, short courses that can be completed at the student’s own pace.
Tier 1 Insurance Broking Compliance Tier 1 compliance is compulsory for those giving detailed advice in insurance broking, life insurance, superannuation, financial planning, managed investments, derivatives, securities and general insurance, including personal accident and sickness products. This is a seven week course.
Tier 2 General Insurance Compliance General and Personal Advice (for brokers) Tier 2 General Insurance Compliance General and Personal Advice is designed for anyone providing personal advice (including general advice) to retail clients about general insurance products and services (other than personal accident and sickness). This is a six hour course. In addition, ANZIIF also offers several other courses ensuring compliance with the relevant Complimentary laws and regulations. for all current ANZIIF Privacy Act students and to members Insurance Brokers Code of Practice The Privacy in Insurance course focuses on the application of the Australian Privacy The Insurance Brokers Code of Practice Principles n a variety of real-world contexts. This is a 1.5 – 2 hour course. course provides a detailed overview of the Code and how the service standards Insurance Contracts Act & Competition and Consumer Act apply in relation to brokers’ dealings This course provides a detailed overview of the Insurance Contracts Act 1984 and the with their clients, including client claims, complaints and disputes. ompetition and Consumer Act 2010 and explains the key requirements of each Act on This is a 1.5 – 2 hour insureds and insurers. course. This is a 1.5 – 2 hour course.
ANZIIF INSURANCE BROKING STUDIES 13 ANZIIF membership benefits
ANZIIF membership benefits are focused on supporting your lifelong learning and continuous professional development. All ANZIIF students receive ANZIIF membership as part of their enrolment. Membership is valid for the calendar year in which they study. ANZIIF membership benefits are:
Use of the ANZIIF Post-nominal E-Newsletters Stand out from the crowd with your ANZIIF post-nominal. Members receive a regular ANZIIF newsletter with Available for all current CIP members (excluding Student articles and activities focused on the latest industry news, and Allied members). technical information and soft skills.
Members’ Centre Online CIP Points Register Designed to maintain and develop skills and knowledge, As a member, you have access to an online CIP points members have access to more than 2,000 articles, register, where all CIP points can be recorded and activities, videos and white papers housed in the tracked, regardless of whether they are completed with Members’ Centre, ANZIIF’s online learning library. ANZIIF or not.
The Journal Professional Development Events The Journal is the longest running and most widely read Several events are run across South East Asia throughout insurance publication in the Asia-Pacific region. CIP the year including face to face seminars, workshops members receive a hard copy* of the publication and all and online webinars. Members gain access to webinar members receive the Journal via e-newsletter. recordings and receive a 20% discount on ticket prices for
* Due to impacts of the unexpected global pandemic, CIP members are receiving a events, or in selected cases will receive complimentary digital copy of the Journal in 2020 from the second issue of the year. invitations to events or online webinars.
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Australian and New Zealand Institute of Insurance and Finance RTO 3596 Australia Level 7 628 Bourke Street Melbourne Victoria 3000 T +61 3 9613 7200 New Zealand PO Box 344 Shortland Street Auckland 1140 T +64 9 379 7128 [email protected] anziif.com
ANZIIF INSURANCE BROKING STUDIES 15