The InstituteThe Australian and New Zealand Institute of Insurance and Finance

Fellowship

Members are eligible to upgrade their membership to the most prestigious Institute membership level of Fellow CIP by obtaining 100 points through the Fellowship Passport system, outlined in the table below. To become a Fellow CIP, the following criteria must be met:

  • a total of 100 points
  • a minimum of two consecutive years as a CIP member of the Institute immediately prior to applying****
  • a minimum of five years of insurance/finance industry work experience
  • successful completion of the Business Ethics Program (BEP).

The Fellowship Passport system considers a variety of factors in an applicant's professional knowledge and experience, including: postgraduate qualifications, industry contribution, relevant university studies and professional development that contribute to the requirements for CIP Fellowship. Each factor is assigned a specific value using a points-based system.

Prospective CIP Fellows are able to allocate and combine the points under each category, as relevant to their situation, to attain the required 100 points to be eligible for CIP Fellowship.

Applicants will be required to supply certified documentation supporting their application.

Fellowship Criteria and Point Allocation

Category
Points

List of approved Postgraduate programs assessed by the Institute as meeting the Fellowship requirements

Deakin University (Australia):

  • Graduate Diploma of Insurance
  • Graduate Diploma of Financial Services (Insurance)
  • Graduate Diploma of Financial Services (Financial Planning)
  • Master of Insurance and Risk Management
  • MBA (Insurance/Risk/Financial Planning specialisation required) 
  • Master of Commerce (Insurance/Financial Planning specialisation required) 
  • Master of Management (Personal Injury)

Charles Sturt University (Australia):

  • Master of Applied Finance (need to also have completed an Institute award course to receive the 100 points)

Nankai University (China):

  • Postgraduate qualification with at least six subjects majoring in insurance

The Central University of Finance and Economics (CUFE) (China):

  • Postgraduate qualification with at least six subjects majoring in insurance
100
Postgraduate Certificate or Diploma with four subjects directly applicable to the insurance/finance/risk sector (insurance, life insurance, superannuation, financial planning, reinsurance, risk management, actuarial studies, loss adjusting, distribution and insurance law)*
80
Postgraduate Certificate with three subjects directly applicable to the insurance/finance/risk sector (insurance, life insurance, financial planning, superannuation, reinsurance, risk management, actuarial studies, loss adjusting, distribution and insurance law)* 
60
Postgraduate Diploma or higher in finance, commerce, business, law, economics
60
Charles Sturt University (Australia): Bachelor of Business (Insurance)
35

Senior Associate CIP membership or completion of an AQTF Diploma or Advanced Diploma in:

  • Insurance Broking
  • Financial Planning
  • General Insurance
  • Risk Management
  • Loss Adjusting
  • Life Insurance
  • Superannuation
  • Personal Injury Management
25

University of Technology Sydney (UTS) (Australia) - Executive Certificate in Insurance
(need to also have completed an Institute qualification)

25
Associate CIP of the Institute or the completion of an AQTF Certificate IV in General Insurance
25
10 or more years' industry experience (written application is required confirming that insurance/financial services activity has been the applicant's central role for 10 or more years)
10
Completion of RG 146 Tier 1 Compliance or other overseas law and regulation training recognised
by the Institute***
10
CPA Foundation Module
10 per module
Applicants who are within five (5) points of gaining Fellowship may submit an application to the Institute requesting consideration of their individual case.
Applicants will need to provide evidence that their specific circumstances are worthy of review and consideration for the discretionary award of five (5) points. For example, demonstrated exceptional leadership in the industry beyond the scope of what is outlined in the Fellowship Passport.
The Institute's Fellowship Review Committee has the discretion to review the application and determine whether Fellowship will be granted.

^ Applicants need to have completed an Institute award course in addition to the completion of Masters of Applied Finance to achieve 100 points.
* Points may only be accrued once for undertaking one post graduate qualification.
** Points may only be accrued once for undertaking either a Certificate IV or a Diploma.
*** Points can only be accrued once for undertaking ASIC compliance modules. Similarly, an overseas applicant can only accrue points once for undertaking other overseas law and regulation training recognised by the Institute.
****Special consideration may be granted for unique circumstances by written application to the CEO.
NB. Points are cumulative provided that the qualifications attained are different.

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