Until now, the CII said financial advisers and insurance agents working outside the UK have found a lack of internationally recognised entry-level qualifications. It added that the introduction of these new qualifications aims to address this shortfall.
The new qualifications are: the Award in Investment Planning, the Award in Bancassurance and the Award in Customer Service in Insurance.
- Award in Bancassurance is a banking-focussed variant of the Award in Financial Planning, targeted largely at advisers in the South East Asian banking sector. It provides a grounding in the relevant core financial, life assurance and insurance products
- Award in Investment Planning is designed as the next step for anyone holding the Award in Financial Planning or the Award in Bancassurance wanting to develop and demonstrate their knowledge of investment products
- Award in Customer Service in Insurance is aimed at those working in customer facing roles in insurance, helping to build the skills and knowledge required to deliver an excellent service
As with existing international qualifications from the CII, these three will only be available outside of the UK.
In addition, the CII is introducing the Certificate in Insurance and Financial Services which offers a “dedicated study pathway for candidates outside the UK who provide financial advice and also act as insurance agents”. The certificate is awarded upon completion of certain international award qualifications.
The CII has more than 14% of its membership based outside of the UK across 150 countries.
Mark Greenwood, regional director – Asia and Middle East – at the CII, said: “The importance of professional qualifications for financial services and insurance staff has risen sharply in recent years. Advisers and agents are the focus of particular attention as regulators and associations worldwide seek to drive up standards of advice and product recommendation.”
