The Chartered Insurance Institute (CII) has expanded its international presence in 2013 with the introduction of a number of new international-only qualifications including the Award in Investment Planning, the Award in Bancassurance and the Award in Customer Service in Insurance.
Until now, financial advisers and insurance agents outside the UK have found a lack of internationally recognised entry-level qualifications and this development is intended to address this shortfall. With an increasingly mobile global workforce, access to qualifications applicable on an international level, rather than country-specific, is increasingly important.
• Award in Bancassurance is a banking-focussed variant of the Award in Financial Planning, targeted largely at advisers in the South East Asian banking sector. It provides a solid grounding in the relevant core financial, life assurance and insurance products
• Award in Investment Planning is designed as the next step for anyone holding the Award in Financial Planning or the Award in Bancassurance wanting to develop and demonstrate their knowledge of investment products
• Award in Customer Service in Insurance is aimed at those working in customer facing roles in insurance, helping to build the skills and knowledge required to deliver an excellent service
As with existing international qualifications, these new Awards will only be available outside of the UK.
The CII is also introducing the Certificate in Insurance and Financial Services, which offers a dedicated study pathway for candidates outside the UK who provide financial advice and also act as insurance agents. The Certificate is awarded upon completion of certain international Award qualifications.
The CII’s global presence is strong, with over 14% of the membership based outside the UK across 150 countries. International growth is a key part of the CII's strategy and continues to build a local presence in India, the Middle East and the Far East through global CII offices, strategic alliances and partnerships where appropriate.
Mark Greenwood, regional director – Asia and Middle East – at the CII, commented: “The importance of professional qualifications for financial services and insurance staff has risen sharply in recent years. Advisers and agents are the focus of particular attention as regulators and associations worldwide seek to drive up standards of advice and product recommendation.
“The CII has been working hard to enhance its international offering to better meet these evolving needs and promote international standards of knowledge through the provision of relevant qualifications tailored specifically for local markets internationally. This is particularly relevant at the entry level where previously there was a dearth of internationally recognised qualifications and these new qualifications will particularly help those practitioners looking for cross-border expansion.”
The first examination sittings for these three new qualifications will take place in April 2013. For more information please refer to the International qualifications – 2013 Information for candidates brochure.
The CII’s existing international-only qualifications – the Award in General Insurance and the Award in Financial Planning – are also increasingly being adopted by regulators outside the UK as a minimum standard for advisers. The Award in Financial Planning is already a minimum standard for advisers in Bahrain and Qatar, and 2013 sees its introduction as a key component in a series of initiatives for offshore advisers in Malaysia.
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