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Broker Support - Certificate Programme

PIQFQ1
Price:
$1,735.00 +GST Non-member
$1,590.00 +GST Learning Partner
$1,300.00 +GST IBANZ Member
Enrolment required                              Enrolment InfoDistance Learning

This option includes the following Modules

The Broker Support Certificate is structured into three modules: 


Core Module 

The Core module is intended to provide a basic understanding of the Insurance Industry in New Zealand It provides a back ground to the industry and introduces kills and principles relevant to a new comer to the industry.

The Core module learning objectives are:

  • Insurance Essentials provides an understanding of how the New Zealand insurance industry developed, how it works and the basic principles on which the New Zealand insurance industry is based
  • Introduces the legislation and codes in an easy to understand module
  • Communication is an essential skill for any broker and this paper takes you through the best ways to ensure two way communication with your clients and colleagues
  • The World of Insurance workshop is unique to PIQ College and follows the history of insurance up until today

Allow 90 days for completion plus attendance at the World of Insurance workshop. Assessment is available on your learning dashboard, by way of brief online quiz or written answers.


Broker Practice

Understanding the Insurance Process, Policy Construction and Claims Principles are key to providing correct advice to clients. This module explores these key parts of the insurance process.

Allow 60 days for completion. Assessment is available on your learning dashboard, by way of brief online quiz or written answers.


Product Knowledge

The product knowledge module is intended to provide information about the most common domestic insurance covers, to give a good grounding for a new domestic broker or support person.

Each course will cover:

  • common policy wordings and exclusions
  • who is covered,
  • what is covered and
  • how the cover applies to common situations.  
We will cover the 5 most common covers in this area as shown below.

Allow 120 days for completion of this module, plus attendance at the contract works workshop.


Learning Units Included

Insurance Essentials

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Understanding the historical aspects and the basic principles of the insurance industry in New Zealand is important for any adviser offering services to customers because it gives an overview of many of the peculiarities of the insurance industry and why things are done the way they are today.

This module is suitable for anyone within the insurance industry. Those just starting out will find it invaluable in providing the basis for their daily client relationships. Those who have been in the industry for some time will appreciate this module as a reminder of insurance basics.

 

Objectives
  • An appreciation of the regulatory environment.
  • The classes of insurance and range of contracts available in New Zealand.
  • The structure of the insurance market in New Zealand and the principles on which the market is based.
  • How the history if the insurance industry has evolved, and used as an instrument of risk management.


The World of Insurance - Workshop

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From the very origins of insurance through to the world of insurance as we know it today.  This workshop will open your eyes to the importance of insurance and, with a focus on the Christchurch earthquake as an example, the valuable contribution it makes to our global economy. 

Workshop contents include:

  • The origins of Insurance
  • How Lloyds of London evolved
  • Modern day insurance
  • World disasters
  • Christchurch and it's impact on the global Insurance underwriting market
  • Why was Christchurch unique in terms of consumer protection, and
  • Where to from here post the earthquake.

We will advise available times to students once this workshop has been scheduled.

 

Objectives
  • Gain an overview of the history of insurance
  • Understand the insurnace industries importance in world events


Regulations for Financial Services

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For many years the financial services markets in New Zealand operated under superficial regulation—that all changed in 2008.

In 2008, new legislation was introduced in an effort to provide more transparency and confidence in the New Zealand Financial services market.  It meant, in effect, that all financial advisers in New Zealand had to be registered, or come under a registered body. An overarching statement relating to these regulations reads:

"All financial advisers must be able to demonstrate they have the appropriate knowledge, skills and competency to give financial advice."
 
Regulation is a necessary evil in today’s society and it is imperative that you have a working understanding of the regulations and legislation that affect the work of a broker or financial adviser.  By showing you understand the regulatory side of your work you will begin to build trust and confidence with your clients.  You will come to understand the importance of Professional Indemnity Insurance and what is negligence in this regulated environment. 

 

Objectives
  • What is a QFE, an AFA & RFA?
  • Who can do what?
  • Gain a working understanding of common legislation and Regulations, including: Financial Adviser Act 2008 Financial Advisers (Disclosure )Regulations 2010 The Privacy Act 1993 Fair Trading Act 1986 Consumer Guarantees Act 1993 Anti-Money Laundering and Countering Financing of Terrorism Act 2009 Codes of Practice


Communication in the Workplace

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Effective communication in the workplace is vital.  All workplace activities and decisions involve communication.  It follows then, that to effectively function in the workplace requires us to have good communication skills.  In fact, whatever your position within your organisation, your performance will, to some extent, be judged by your ability to relate to others effectively and in an appropriate way.

Communication is the key to your success, and not just at work.  In every relationship throughout every sphere of your life, and throughout every moment, effective communication is vital. 

 

Objectives
  • Respond to an inquiry
  • Listen, hear and understand a client’s needs;
  • Give information to clients;
  • Record and convey information; and


The Insurance Process and Policy Construction

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The purpose of this course is to provide an understanding of the basic parts of an insurance policy, and the implications of those parts on the application of cover. 

Once the purpose of the individual parts of an insurance policy are understood the policy document can be more readily interpreted. This module assists in giving a broker a toolbox to identify what type of cover, and from which provider, is appropriate for a client’s needs in a particular class of risk.

Objectives
  • Identify and interpret various policy components
  • Understand the basic underwriting process
  • Understand the insurance application process
  • Discuss Utmost Good Faith, Duty of Disclosure and Material Fact issues


Claims Principles

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It is easy, when working with insurance products, to focus solely on the marketing and selling of those products.  A broker needs to remember that his/her role extends beyond the moment when a signature is placed on the bottom of a contract.

It extends to:

  • Following up on clients
  • The continual assessment of their client’s needs, and
  • To helping the client through the claim process if and when that time arises.

The Claims Principles Online Course will take you through the four stages:

  • Notifying the insurer
  • Insurer confirms facts 
  • Insurer makes a decision, and
  • Insurer settles claim.
Objectives
  • Your legal obligations
  • To understand the four stages of the claims process
  • Your role in the claims


Home and Contents

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Insurance cover for domestic buildings and their contents is generally referred to as Home and Contents Insurance. Home & Contents insurance is in effect two policies;

  • One for the residential dwelling and the chattels it contains, and
  • One for personal possessions 
Objectives
  • Be able to disucss common extensions and exclusions
  • Understand who and What is covered?
  • Understand common underwriting considerations


Contract Works - Residential & Small Commercial- Workshop

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This course covers both the theory and practice of Contract Works Insurance and provides a broad but detailed overview of the industry and its component parts, players and products.

You will gain a good grounding in how to understand and provide Contract Works Insurance related financial adviser services to clients, and how to select the appropriate Contract Works Insurance products based on the needs of a particular contract.

Part 1: The Contract Works Policy

  • Scope of cover
  • Sublimits
  • Extensions
  • Exclusions
  • Commencement of cover
  • Termination of cover

Part 2: The Contract and the Insured Parties

  •  Who is insured, when and why

Part 3: Sums Insured and Post-Loss Allowances 

  • What does the policy require
  • Contractual requirements

Part 4: Other Covers

  • Principal Supplied Materials

This is a course for: brokers, trainee brokers and assistant brokers, or anyone (and everyone) with an interest in small contract works.

 

Objectives
  • Who is insured, when and why
  • The Contract Works Policy -Scope of cover, Sublimits, Extensions, Exclusions, Commencement of cover, Termination of cover.
  • Understand other covers - Principal Supplied Materials, storage and transit
  • What does the policy require contractually


Rural Insurance

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The Rural Insurance Package Contract can vary to a greater extent than other packages with many additional features designed specifically for a very diverse sector. This course is essential to brokers so that they are able to fully understand their clients needs, and can read each Insurers policy and recommend those that are perfectly tailored to the clients requirements. The Rural Sector is central to the national economy making this course greatly valued.

By working through the material course participants will be able to demonstrate an understanding of:

    Typical Sections of a Rural insurance policy
    The implication of specific rural clauses to industry clients

The course is designed for anyone in the insurance industry who wants to learn, or refresh their knowledge concerning, the basics of rural insurance policy clauses and structure.

 

Objectives
  • Understand the evolution of rural insurance in New Zealand
  • Understand the detail around specific rural extensions and exclusions that relate to rural insurance packages
  • Explore the core domestic components of rural package covers
  • Understand the normal additional exposures that can be insured extensions and exclusions that relate to rural insurance packages


Private Motor

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Because the risk of having a vehicle accident is relatively high, it goes without saying that motor vehicle insurance is an important aspect of the protection of our personal finances.  Almost 20% of the entire premium pool in New Zealand relates to private motor vehicle insurance.
Private Motor vehicle insurance is therefore one of the policies you must have a clear understanding of in this competitive market. 
 
Objectives
  • Claims
  • Who and What is covered?
  • Common Extensions and exclusions
  • Underwriting considerations


Pleasure Craft

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Most New Zealanders live close to the water.  It’s no wonder then, that we enjoy not just seeing it, but being out on it.  New Zealanders own over 240,000 pleasure craft of all shapes and sizes.  For this reason, pleasure craft insurance is common and, while many pleasure craft owners insure directly with insurance providers, this category of insurance remains an important product in an insurer’s portfolio.

What pleasure craft insurance cover

  • Who is covered
  • What is covered
  • Common extensions
  • What is not covered
  • Legal liability
  • Where are you covered
  • Claims
  • Underwriting considerations 
Objectives
  • Gain an understanding of typical underwriting considerations.
  • Gain an overview of typical pleasure craft insurance covers in New Zelaand.
  • Examine and discuss typical extensions.
  • Discuss typical exclusions.


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