Certificate IV in Financial Services - General Insurance (Traineeship)

This is a distance education traineeship program available to new and existing employees. It is ideal for companies wanting to develop their employees by completing a nationally recognised accredited qualification. The program also incorporates the provision of RG146 Tier 1 General Insurance compliance.

Program Framework
The Certificate IV in Financial Services provides common and specialist national competencies for each of the following five relevant learning modules:

• Serving the Customer
• Insurance Law and Regulation
• Insurance Products
• Introduction to Underwriting
• Claims Handling

Program Features
• Delivery is via distance learning, typically within a 12 to 24 month period with the ability to extend or fast track as the business requires
• The program can attract a subsidy often higher than the full cost of the program
• An individualised Training Plan is developed for each trainee by the Institute in conjunction with the employer
• Presentation of Tier 1 General Insurance compliance upon successful completion of the first two program modules
• Presentation of a Certificate IV qualification upon successful program completion.

Benefits to the company
• The Institute’s Insurance Traineeship Program provides skilled, versatile and productive workers
• The program forms part of a cost-effective and long term staff retention strategy
• The program is flexible to satisfy your company’s professional development programs.

Benefits to the individual
• Professional development provided by Australasia’s leading provider of insurance education
• Provision of the Certificate IV in Financial Services - General Insurance
• Peer recognition and eligibility to apply for Associate CIP membership of the Institute
• Provision of the pre-requisite to the Institute’s Diploma of Financial Services- General Insurance.

Delivery Method and Student Support
The Certificate IV in Financial Services is delivered by self paced study. Each module is undertaken within a study timeframe of 12 -15 weeks. Assessment is via submission of an assignment and a two hour examination for each of the five modules.

Further student support is provided by the Institute via:

• Pre-enrolment contact to structure an individual study plan
• Provision of a student newsletter tailored to the individuals’ study program
• Access to online discussion forums for each module which are facilitated by subject matter experts
• Access to informal study groups
• Telephone contact during each module to support the student’s progress and understanding of the learning materials
• Further contact prior to the assignment submission date and the examination date for each module
• Access to online practice examinations
• Trainees are eligible for RPL credits for modules based on previous formal studies or relevant professional experience, at no extra fee.

Program Fees and Funding
• The program attracts an all inclusive fee of $4,190 per trainee.
• Most employers will receive a significant government subsidy up to $4,000 subject to pre-existing conditions such as previous funding and prior qualifications
• Specific funding can be approved prior to enrolment with a pre-program eligibility check of each employee. This can be provided at no charge through either your preferred Australian Apprenticeship Centre (AAC) or the Institute can recommend one.
• Trainees are eligible for RPL credits for modules based on previous formal studies or relevant professional experience, at no extra fee.

Traineeship in Certificate IV - competencies by module

Serving the customer
1. Responding to customer enquiries
2. Communication in the workplace
3. Establishing client relationships and analysing needs
4. Developing, presenting and negotiating client solutions
5. Apply principles of professional practice to work in the financial services industry
6. Delivering a professional service to customers
7. Maintaining customer relationships
8. Resolving disputes
9. Providing appropriate services, advice and products to clients

Insurance law and regulation
10. Applying health and safety practices in the workplace
11. Complying with financial services legislation, industry and professional codes of practice

Insurance products
12. Using technology in the workplace
13. Developing and maintaining in-depth knowledge of products and services used by your organisation or sector

Introduction to Underwriting
14. Underwriting renewal business
15. Evaluating risk for new business
16. Underwriting new business
17. Issuing renewal advice
18. Issuing cancellation advice
19. Issuing contract of insurance
20. Processing alteration to insurance policy

Claims Handling
21. Receiving and recording/ registering claims
22. Analysing insurance claims
23. Following company procedures to process claims
24. Settling claims
25. Processing claims payments
26. Participating in negotiations
 

ANZIIF Pathways to higher recognition

Students who aspire to a successful career in the insurance industry are encouraged to undertake further industry qualifications and become a CIP (Certified Insurance Professional) member of the Institute once the traineeship is completed.

Trainees can follow a formalised education pathway through the following steps:

• Diploma of Financial Services (General Insurance) – leads to Senior Associate CIP membership (pre-requisite of Certificate IV)
• Diploma of Financial Services (Insurance Broking) – leads to Senior Associate CIP membership.

Contact Information
For further information about the Institute insurance traineeship program contact Karena Miller on (03) 9613 7213.