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Insurance Broking Full Programme

PIQIBFQ
Price:
$2,348.00 +GST Non-member
$2,152.00 +GST Learning Partner
$1,957.00 +GST IBANZ Member
Enrolment required                              Enrolment InfoDistance Learning

This option includes the following Modules

Core Module

This Module replicates some of the learning from the Professional IQ Broker Support Certificate. If you have already completed these modules they are not required. 

It provides a basic understanding of the Insurance Industry in New Zealand It provides a back ground to the industry and introduces skills and principles relevant to a new comer to the industry.

Topics covered include:

  • 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 bets ways your 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
  • The Insurance Process and Policy Construction

Allow 60 days for completion plus attendance at 2 workshops.


Broking Practice

Designed for Fire and General Insurance Brokers this module explores principles and skills relevant to an insurance brokers day to day operating.

  • Begins with risk management and ethics all essential skills for a broker
  • Understanding how to negotiate a claim a to get the best results possible is covered in two short courses 
  • It is essential that all brokers understand the policy wording of commercial contract so this course introduces you to contract wording and implications. 

Allow 90 days for completion of these online short courses. Assessment is available on your learning dashboard, by way of brief online quiz or short written answers.


Product Knowledge

More suitable for commercial brokers this module provides general product information about the most common commercial insurance polocies.

Consists of 6 short on line courses covers the nuts and bolts of material damage, business interruption and several liability covers including professional indemnity, General Liability and Statutory Liability.

Allow 150 days for completion of these online short courses. Assessment is available on your learning dashboard, by way of brief online quiz or short written answers.


Elective Modules

Building on the product knowledge module we introduce some more specialised covers in order to give students more control over the topics they wish to learn. Your enrolment will include any 3 of the topics below.

Allow 30 days for completion of each online short courses, plus attendance of the above workshops.

Assessment is available on your learning dashboard, by way of brief online quiz or short written answers.

You will need to let us know your choices once you have completed the enrolment process.

Choose from the courses list below under Ins Broker Certificate Elective Options.


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

PIQW3

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

PIQ2

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

PIQ3

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


Principles of Risk Management - Workshop

PIQW1

The perfect workshop for anyone who is new to the life/risk insurance advice industry or for mortgage, general insurance or investment advisers who wish to add risk insurance to their service offering. It covers both the theory and practice of risk insurance.

 

Objectives
  • Learn about the basics of risk
  • Application, underwriting and Implementation of risk
  • Financial positions and goals,
  • Client suitability, needs and hazards


Ethics - Workshop

PIQW4

Gain a clear understanding of some of the ethical challenges in the insurance/financial advisers industry.  

Privacy, Ethics & Disclosure.  What do they have in common?

Learn how to behave ethically within the regulatory framework.

 

Objectives
  • What is conflict
  • Understand why disclosure is important
  • What should be in disclosure statements
  • Understand professional conduct codes


The Professional and Effective Broker - Workshop

PIQW5

This workshop follows the behaving ethically workshop. It is the second in a series of three workshops.

Learn about how to improve your skills as a broker

Suitable as a refresher or for those with under 4 years as a broker.

 
Objectives
  • Apply professional standards to your every day work.
  • Ensure your client gets the best possible service from you
  • Buy and place insurance effectively


Claims Principles

PIQ4

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


Negotiating for Results

ABR2

Negotiating is a fundamental fact of life at any level. Whether you are working on a project or fulfilling support duties, this course will provide you with a basic comfort level to negotiate with both internal and external clients. This course includes techniques to promote effective communications and gives you techniques for turning face-to-face confrontation into side-by-side problem solving.

CPD Points: 3

Objectives
  • Understand body language
  • Learn The phases of negotiation and how to be successful.
  • Learn what negotiation is, and about different types of negotiation
  • Learn tips on Solving objections and closing the process.


The Advice Process for Brokers

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Brokers like any other financial adviser collect information on their clients to enable you to provide them the best solution. Doing this in a systematic manner improves your efficiency and effectiveness as a broker.
This internationally recognised process includes: 

  • gathering relevant financial information,
  • determining a client’s goals,
  • examining their current financial status and
  • creating a strategy, or plan, to assist them in achieving their objectives.
Objectives
  • Considerations when developing your recommendations, How to present your recommendations professionally
  • Build rapport and relate to clients
  • Why do i need a disclosure statement?
  • What information should i be collecting, and how do I analysis it?


Material Damage Insurance

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This practical course has been prepared to help students understand how Material Damage Insurance (Business Assets Insurance) works and how brokers can evaluate the different insurance contracts on offer against the actual needs of their clients.

This module includes the following topics:

  • An overview of the policy structure
  • An explanation of how material damage insurance works, and
  • An explanation of standard exclusions, extension and special conditions.

 

Objectives
  • Identify needs of a client, and recommend appropriate material damage cover
  • Identify the parts of a material damage policy.


Business Interruption

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Business Interruption (BI) Insurance is vital for most businesses.  The aim of this module is to ensure students are able to discuss BI Insurance with clients and recommend, with confidence, coverage suitable for those clients.

This module includes the following topics:

  • An overview of the policy structure
  • An explanation of how business interruption insurance works, and
  • An explanation of standard exclusions, extension and special conditions.

 

Objectives
  • Understand how a business interruption policy works
  • Explain how various policy components operate
  • Gain an overview of business interruption policy structure


Professional Indemnity

TSL5

Sometimes known as Professional Risk Liability Insurance, Professional Indemnity (PI) Insurance is offered to protect business people who receive payment for providing advice or performing a service against a claim made by someone who feels that business person has not lived up to their professional obligations.  

The aim of the Professional Indemnity Module is to enable students to discuss this type of insurance with clients and to confidently recommend coverage suitable for those clients.

This module includes the following topics:

  • Overview of professional indemnity insurance,
  • Coverage and limitations of a professional indemnity 
  • Insurance contract,
  • Policy exclusions, conditions and exclusions,
  • Meeting clients’ needs, and
  •  Professional indemnity claim examples.

 

Objectives
  • Recommend appropriate professional indemnity cover to clients
  • Discuss prudent measures to reduce professional indemnity risk.


General Liability

TSL6

General Liability is an important cover for most businesses because it covers them against risks relating to their general business operation.

The aim of the General Liability module is to enable students to be able to discuss this type of insurance with clients and to confidently recommend coverage suitable for those clients. IBANZ's General Liability module will refresh the experienced, and instruct the newcomer, about this aspect of liability insurance.

This module includes the following topics:

  • The different types of general liability insurance
  • Indemnity clause and relevant definitions of words and terms
  • Standard policy exclusions
  • Policy conditions that are relevant to liability insurance
  • Common optional extensions and memoranda that may be available or be applied, and
  • Common automatic coverage extensions.

 

Objectives
  • Learn aspects of the General liability cover
  • Be able to make recommendations about liability covers to clients based on their needs.


Statutory Liability

TSL3

Statutory Liability is an important cover for most businesses because it protects them against financial losses that may arise as a consequence of an unintentional breach of an Act or regulation.


The aim of IBANZ College's Statutory Liability Module is to enable students to discuss this type of insurance with clients and to confidently recommend coverage suitable for those clients.

This Statutory Liability module will refresh the experienced, and instruct the newcomer in this aspect of liability insurance.

This module covers the following topics:
  •  Overview of Statutory Liability Insurance 
  •  Coverage and limitations of statutory liability insurance contract 
  •  Policy exclusions 
  •  Policy conditions 
  •  Policy extensions 
  •  Meeting clients' needs 
  •  Statutory liability claim examples 

 

Objectives
  • Discuss the implications of client actions on various statues covered by Statutory liability covers.
  • Recommend suitable coverage for clients
  • Discuss what Statutory Liability insurance is with clients


Commercial Motor Insurance

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The Commercial Motor Vehicle (CMV) Insurance module will enable students to:

  • Evaluate CMV insurance policy wordings
  • Discuss CMV Insurance with clients, and
  • Recommend coverage suitable for specific client needs.

The course material includes an in-depth look at the structure and workings of a CMV insurance policy including:

  • Policy schedules
  • Extensions, exclusions and conditions
  • Settling a claim, and
  • Premium options

 

Objectives
  • Gain an understanding of the structure of a commercial motor vehicle policy
  • Learn how to identify commercial motor vehicle policy needs and make recommendations


Ins Broker Certificate Elective Options

ElectInfoCert

Please make sure as part of your enrolment that you advise us of the elective modules that you wish to complete by emailing us or sending in your completed 

Choose 3 workshops or online courses

  • Commercial marine
  • Marine cargo
  • Contract works (residential and small commercial) - Workshop
  • Understanding the clients business - Workshop
  • Business structures and laws affecting business
  • Understanding financial statements
  • Effective business writing skills - Workshop


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