Insurance Broking

New Zealand National Certificate in Financial Services Level 4 (Fire and General) (Insurance Broking)

The Institute's New Zealand Level 4 certificate in insurance broking, meets the requirements of the following NZQA-issued qualification: National Certificate in Financial Services Level 4 (Fire and General). This means that the insurance broking modules in the course include coverage of the competency standards required for issuance of this national qualification.

Course content

To be awarded the National Certificate in Financial Services Level 4 (Fire and General) (Insurance Broking) students must complete the following three modules and the ANZIIF nominated bridging course.

• FSB501 Providing Customer Advice
• FBS507 Insurance Products
• FBS506 New Zealand Insurance Law and Regulation for Brokers
• NZFSL4 Level 4 Bridging course.

FSB501 Providing Customer Advice

Covers the start-to-end process of advising the broking customer, including developing a relationship with the client, identifying and assessing needs, preparing and presenting solutions to the client, preparing business submissions, implementing changes to the client’s insurance program and advising on risk, as well as reviewing the client’s insurance program and the broker’s performance.

For more information, click here.

FBS507 Insurance Products

Discusses the importance of product knowledge, statutory issues, insurance documents and provides insurance product profiles.

For more information, click here.

FBS506 New Zealand Insurance Law and Regulation for Brokers

Designed for New Zealand students this module covers health and safety in the workplace as well as the Acts, regulations and the code of practice, relevant to New Zealand; which govern a broker’s day-to-day job.

For more information, click here.

NZFSL4 Level 4 Bridging course

The Level 4 Bridging course will include content which addresses:

• formalities of best-practice customer service
• arranging and documenting agreements and the provision of services
• developing insurance solutions
• implementing insurance plans
• managing dispute resolution.

Further education

Once you complete the Institute’s modules nominated for the Level 4 qualification in insurance broking, you only need to successfully complete two more modules (FBS503 Claims Handling for Brokers and FSB504 Risk Assessment and Management), the Institute’s bridging course for Level 5 and EITITO’s assessment to obtain the popular New Zealand National Certificate in Financial Services (Financial Advice) Level 5 (Fire and General). 
 

New Zealand National Certificate in Financial Services (Financial Advice) Level 5 (Fire and General) (Insurance Broking)

The Institute's New Zealand Level 5 certificate in insurance broking, meets the requirements of the following NZQA-issued qualification: National Certificate in Financial Services Level 5 (Fire and General). This means that the insurance broking modules in the course include coverage of the competency standards required for issuance of this national qualification.

Three steps to obtain your Level 5 qualification

Students who successfully complete this three step process will satisfy NZQA’s requirements and be awarded the National Certificate in Financial Services (Financial Advice) Level 5 Fire and General.

To be awarded the New Zealand National Certificate in Financial Services (Financial Advice) Level 5 (Fire and General) (Insurance Broking) students must complete the following five modules and the ANZIIF nominated bridging course.

• FSB501 Providing Customer Advice
• FBS507 Insurance Products
• FBS506 New Zealand Insurance Law and Regulation for Brokers
• FSB503 Claims Handling for Brokers
• FSB504 Risk Assessment and Management
• NZFSL5 Level 5 Bridging course.

FSB501 Providing Customer Advice

Covers the start-to-end process of advising the broking customer, including developing a relationship with the client, identifying and assessing needs, preparing and presenting solutions to the client, preparing business submissions, implementing changes to the client’s insurance program and advising on risk, as well as reviewing the client’s insurance program and the broker’s performance.

For more information, click here.

FBS507 Insurance Products

Discusses the importance of product knowledge, statutory issues, insurance documents and provides insurance product profiles.

For more information, click here.

FBS506 New Zealand Insurance Law and Regulation for Brokers

Designed for New Zealand students this module covers health and safety in the workplace as well as the Acts, regulations and the code of practice, relevant to New Zealand; which govern a broker’s day-to-day job.

For more information, click here.

FSB503 Claims Handling for Brokers

Covers the start-to-end process of handling a claim, including; registering claims, obtaining the relevant information from the client along with proper documentation, and advising insurers and liaising with service providers. It also covers the basics of reviewing the incidence of loss for clients, and dispute resolution.

For more information, click here.

FSB504 Risk Assessment and Management

Covers how to implement an insurance program for clients, identifying and assessing risks and assessing and negotiating complex risk portfolios.

For more information, click here.

For information about this bridging course, click here.

When students feel that they are competent in the skills outlined in the unit standards, they can be assessed for competency and credits towards completion of the Level 5 qualification can be awarded.
 
Assessment involves an exam administered by the ETITO and the collection and recording of evidence that demonstrates an individual's competence in each unit standard for which they are seeking credit. This evidence can be gathered by observing normal day-to-day work, from the organisations records, team leader's/manager's verification, questionnaires completed, and verbal discussions. For more information, click here.