As the leading professional membership and education body for the insurance and financial services industry the Institute is uniquely placed to offer people working in general insurance a range of professional solutions. From professional recognition through Institute membership to internationally recognised qualifications and practical, day-to-day professional development activities designed to meet regulatory requirements, the Institute offers the general insurance community the best mix of quality and affordable services. The Institute offers three professional qualifications in General Insurance:
The starting point for school-leavers or anyone wishing to develop a career in insurance at entry level, the Certificate III traineeship is a government subsidised employment-based training program that gives new entrants a solid introduction to the insurance industry and provides a foundation for further development. | Fee | A$3885 (Government funding available for eligible Australian students) | | Duration | 1-2 years depending on state requirements | | Delivery | Mix of distance learning and coaching by employers personnel in the workplace. | | Assessment | Assessment for each module consists of:
- a case study based assignment
- an examination containing multiple choice, short answer and case study based questions. Find out more ... | | Membership Outcome | Ordinary Member | | ASIC Compliance | Tier 2 General Insurance
(Australian Modules only) | | Further Education | For those wanting to go onto study the Certificate IV in Financial Services – General Insurance, the Certificate III along with the completion of a bridging module gives you credit for FSI401 Serving the Customer. |
Course Content The Certificate III in Financial Services - General Insurance is broken up into the following ten sections: - Section 1 - Working in an office environment
- Section 2 The insurance market
- Section 3 - The financial environment
- Section 4 - The legal environment
- Section 5 - The Insurance Contracts Act
- Section 6 - The Corporations Act
- Section 7 - Privacy
- Section 8 - Code of Practice and dispute resolution
- Section 9 - Working with customers
- Section 10 - Claims.
The essential qualification for those who handle claims, issue domestic insurance contracts, deal with customer enquiries, appoint intermediaries to investigate standard claims and initiate claims recovery, the Certificate IV in Financial Services – General
Insurance is a great start to a career in insurance. Upon completion of the Certificate IV in Financial Services –General Insurance, graduates will become an Associate Certified Insurance Professional (CIP) of the Institute and will have met all requirements for ASIC Tier 1 compliance for general insurance. | Fee | Distance Learning
A$825 per module NZ$910 per module Traineeship
A$3885 (Government funding available for eligible Australian students) | | Duration | Five modules: Each study period lasts 12 weeks. (Students are able to study a maximum of two modules per study period.) | | Delivery | Distance Learning or Traineeship | | Assessment | Assessment for each module consists of:
- a case study based assignment
- an examination containing multiple choice, short answer and case study based questions. Find out more ... | | Membership Outcome | Associate CIP | | ASIC Compliance | Tier 1 Personal Accident and Sickness
(Australian Modules only) | | Further Education | Upon completion of the Certificate IV, students are eligible to enrol in the Diploma of Financial Services – General Insurance. |
Course Content To be awarded the Certificate IV in Financial Services - General Insurance students must complete the following five modules: FSI401 Serving the Customer FSI402 Insurance Law and Regulation OR
FSI406 New Zealand Insurance Law and Regulation (New Zealand Students FSI403 Insurance Products FSI404 Introduction to Underwriting FSI405 Claims Handling.
The Institute's Diploma of Financial Services – General Insurance is designed for general insurance employees who lead a claims
or underwriting team; handle complex claims; underwrite complex risk; initiate and respond to legal action in relation to claims; survey risk exposure; implement claims recovery and review portfolio performance. Completion of this provides Senior Associate CIP membership of the Institute – the benchmark for industry professionalism. | Fee | A$995 per module NZ$1,120 per module | | Duration | Four modules: Each study period lasts 12 weeks. (Students are able to study more than one module per study period.) | | Delivery | Distance Learning | | Assessment | Assessment for each module consists of:
- a case study based assignment
- an examination containing multiple choice, short answer and case study based questions. Find out more ... | | Membership Outcome | Senior Associate CIP | | Specialties Available | - Liability
- Personal Lines
- Commercial Lines
- Marine
- Statuatory Classes
| | Prerequisite | Certificate IV in Financial Services - General Insurance | | Further Education | Completion of the Diploma provides credit into the Bachelor of Business (Insurance) at Charles Sturt University (CSU). Find out more ... |
Course Content Modules for the Diploma of Financial Services - General Insurance are paired under speciality classes, each of which includes one module on underwriting and one on claims management. Students must complete at least one whole specialty class (two modules) and then select their remaining two modules according to work requirements and aspirations. Liability Personal Lines - FSI503 Personal Lines Claims Management
- FSI504 Personal Lines Underwriting Management
Commercial Lines - FSI505 Commercial Lines Claims Management
- FSI506 Commercial Lines Underwriting Management
Marine - FSI507 Marine Claims Management
- FSI508 Marine Underwriting Management
Statutory classes - FSI509 Statutory Classes Claims Management
- FSI510 Statutory Classes Underwriting Management
Additional modules - FSI511 Reinsurance
- FSI512 Risk Management
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