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September 2014

World Class Skills for a World Class Industry

Annual Publication 2014

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INDEX

The IISA as a Professional Body Pg 3

Qualification Stream Pg 5

FSB Recognition of Qualifications Pg 12

How to become a Professional Member Pg13

Continuing Professional Development Requirements Pg 18

What you need to know about CPD Pg 19

CPD Definitions Pg 22

Access the IISA System Pg 29

Contact Us Pg 34

Page | 3

The IISA as a Professional Body

Whilst the foundation of the IISA can be

traced to 1891 through Local Institute history

in South Africa, the Insurance Institute of

South African (IISA) was formally established

as a national educational and professional

body in 1966.

In this capacity the IISA have been the

custodian of professional standards in the

insurance industry, and more recently, in

November 2012, have been formally

recognised by the South African Qualifications

Authority (SAQA). This recognition confirms

the IISA as the only Professional Body to

award the professional designations of

Licentiate, Associate and Fellow in the

Insurance Industry.

Licentiate (LIISA)

A Licentiate is a practicing professional who

identifies the client’s needs through a

comprehensive risk analysis process and, with

a holistic view, develops a risk management

plan that will assist the client to mitigate,

avoid or manage the identified insurance

risks. The LIISA will then arrange an insurance

policy for the agreed risks to be insured. The

insurance policy is monitored and reviewed

regularly to ensure that any assets or

additional insurance risks are addressed and

that any external changes that might affect

the insurance risks are considered. Licentiates

can work in either a sales, underwriting,

claims, risk management or intermediary

capacity, or a combination of these.

These are professional members, who carry

an insurance qualification at NQF Level 5

which makes them proficient in General

Insurance Practices and able to:

Identify and analyse risks about the

clients risk exposure in order to

develop a risk management strategy;

Collect details of the clients existing

insurance cover and consider the

implications of changes to insurance

cover;

Recommend insurance solutions for

personal clients and general

commercial entities;

Provide clients with general risk

management advice to mitigate, avoid

or manage risk;

Manage, advise on or negotiate

general insurance claims;

Facilitate an informed discussion on

the workings of an insurance contract

and the roles and responsibilities of

both the insurer and the insured;

Ensure the legislative, regulatory and

compliance requirements of the

financial services industry in providing

a safe financial platform for clients;

Understand the boundaries between

specialist insurances and general

insurance offerings and when to refer

to a specialist for consultation and

recommendations; and

Understand the workings of the

insurance industry at a micro and

macro level, and identify global issues

that will have an impact on the sector

Associate (AIISA)

An Associate is a practicing professional who

identifies the client’s needs through a

comprehensive risk analysis process, with a

specialist insurance environment and,

develops a risk management plan that will

assist the client to mitigate, avoid or manage

the identified specialist insurance risks. The

AIISA will then arrange an insurance policy for

the agreed risks to be insured. The insurance

policy is monitored and reviewed on a regular

basis to ensure that any assets or additional

insurance risks are addressed and that any

Page | 4

external changes that might affect the

insurance risks are considered. Associates can

operate in either an intermediary, sales, policy

administrative, risk management,

underwriting or claims capacity within a

specialist insurance environment such as

engineering, construction, motor fleet,

liability, guarantee, accident or other

specialist insurance.

Associates are professional members, who

have an insurance qualification at NQF Level

6, which has broadened their insurance

knowledge to a Specialist Insurance level and

are therefore able to:

Advise personal and commercial

clients on, and arrange specialist

insurance cover within the fields of

Liability, Commercial properties,

Business Interruption and

Reinsurance Cover options;

Advise on alternative insurance

structures and a range of specialist or

alternative risk solutions;

Identify specialist risks and make risk

management recommendations on

mitigation, avoiding or managing

specific risks;

Choose a specific specialist field

within which to operate successfully;

Manage, provide advice on and

negotiate specialist insurance claims;

Facilitate an informed discussion on

the workings of an insurance contract

and the roles and responsibilities of

both the insurer and the insured;

Understand the boundaries between

specialist insurances and general

insurance offerings and when an how

to deal with these appropriately;

Ensure the legislative, regulatory and

compliance requirements of the

financial services industry in providing

a safe financial platform for clients;

and

Understand the workings of the

insurance industry at a micro and

macro level, and identify and advise

on global issues that will have an

impact on the sector

Fellow (FIISA)

A Fellow is a practicing professional who can

operate in senior management positions or

manage specialist insurance divisions or

specialist insurance operations such as an

intermediary or underwriting management

agency. Fellows can operate in either a sales,

policy administrative, risk management,

underwriting or claims capacity within a

specialist insurance environment such as

engineering, construction, motor fleet,

liability, guarantee, accident or other

specialist insurance.

A Fellow is able to:

Anticipate the impact of external and

internal changes on their own

business and the wider insurance

market, and to review business

policies or processes to ensure

continued ethical business is

conducted

Evaluate trends in company

performance data and identifies the

products and approaches required to

achieve key business objectives

Challenge existing customer processes

and procedures within the business

and industry to improve the customer

experience

Manage departments and specialist

areas of insurance within insurance

companies, broking houses or

underwriting management agencies

As approved by SAQA

Version: 23 June 2014

IISA Membership Levels & Suggested Qualification Stream 2014

Elements of Insurance

12 Credits @ NQF Level 5

COP and ICIBS

84 Credits @ NQF Level

4

INSETA Certificate in

Short Term Insurance

120 Credits @ NQF Level

4

Higher Certificate in Short Term

Insurance


Programme in Risk Management


IISA Introductory Programme in

Advanced Insurance Practice


IISA Programme

in Advanced Insurance Practice


IISA Introductory

Programme in Insurance


IISA Programme

in Insurance


National Certificate in Short

Term Insurance


IISA Membership & Qualification Stream

Page | 6

STEP 1 Option A Certificate of Proficiency plus Intermediate Certificate in Business Studies

Certificate of Proficiency (CoP)

Subjects

One subject, chosen from three possible streams:

Subject Description Credits

Short Term Insurance

An introduction to the insurance environment

12 credits @ level 4

Long Term Insurance 12 credits @ level 4

Retirement Funds 13 credits @ level 4

Accreditation

Historically an industry recognised certificate awarded by the College of Insurance, containing SAQA-recognised credits.

Presented by

College of Insurance; or Botswana Accountancy College (not SAQA recognised)

Who should do this programme?

The CoP is appropriate for those who are new to the industry, either direct from school with, without Matric or direct from a tertiary qualification with a non-insurance qualification. It also provides a valuable introduction to insurance for those employed in support activities to the industry, such as IT, auditing, accounting and secretarial support.

plus

Intermediate Certificate in Business Studies (ICiBS)

Subjects

Four subjects, including a second specific technical stream subject


Short Term or Long Term Insurance A more detailed overview of products and practices 24 credits @ level 4

Business Calculations Applied Mathematics 16 credits @ level 4

Business Communications Practical English skills 20 credits @ level 4

Business Organisation/Financial Literacy Basics of key business and personal financial skills 12 credits @ level 4

Accreditation

Historically an industry recognised certificate awarded by the College of Insurance, containing SAQA-recognised credits.

Presented by

College of Insurance; or Botswana Accountancy College (not SAQA recognised)


Page | 7

Where Matriculation has been achieved with a pass in English and a good pass in Mathematics, dispensation can be obtained for the Mathematics and Communication subjects, while dispensation for Financial Literacy can be obtained on the basis of a pass in Business Economics, Accountancy or a similar subject.

IISA Membership

Satisfies the academic requirements for election as a Member of the IISA


Ideal for those seeking a more detailed knowledge of the products and processes used in the industry.

STEP 1 Option B IISA Short Course in Elements of Short Term/Life Insurance/Retirement Funds

Subjects

One subject, chosen from three possible streams:


Elements of Short Term Insurance An Introduction to Short Term Insurance 12 credits @ level 5

Elements of Life Insurance An Introduction to Life Insurance 12 credits @ level 5

Elements of Retirement Funds An Introduction to Retirement Funds 12 credits @ level 5

Accreditation

An industry recognised certificate awarded by Unisa CBM, containing SAQA-recognised credits.

Presented by

Unisa Centre for Business Management

IISA Membership



Ideal for candidates who had passed matric English and mathematics and who have already spent some time working in the insurance industry or for those with a non insurance degree seeking to fast track into the insurance programmes.

STEP 1 Option C INSETA Certificate in Short Term / Long Term Insurance

Subjects

Six subjects, chosen from two possible streams:

Qualification Description Credits SAQA ID

Cu

rren

t

FET Certificate in Short Term Insurance An introduction to Short Term Insurance and basic business skills

140 credits @ level 4 66610

FET Certificate in Long Term Insurance An introduction to Long Term Insurance and basic business skills

140 credits @ level 4 49649


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Pas

t National Certficate in Short Term Insurance 120 credits @ level 4 21796

National Certficate in Risk Management 140 creidts @ level 4 24396

National Certficate in Wealth Management 120 credits @ level 5 57608

FET Certificate in Short Term Insurance 140 credits @ level 4 49929

Accreditation

An industry recognised full qualification awarded by an INSETA Accredited Training Provider, containing SAQA-recognised credits.

Presented by

An INSETA Accredited training provider.

IISA Membership



Ideal for those seeking a more detailed knowledge of the products and processes used in the industry.

STEP 1 Option D IISA Programme in Insurance

Subjects

10 semester modules comprising a total of 120 credits @ level 5

Introductory Programme in Insurance 5 modules 60 credits; plus Programme in Insurance 5 modules 60 credits

Selected from a choice within one of three streams (Short Term, Long Term or Retirement Funds)

Description

Practical applied subject matter.

Why progress to this level?

For those who are seeking a deeper understanding of practical, applied subject matter in various fields.

IISA Membership


Presented by:

UNISA Centre for Business Management

FSB Recognition

Recognised as qualification number 669 on the FSB’s published list of qualifications as generic to all product categories

Who should do these programmes?

This qualification is appropriate for those who are established in the industry with some lower-level studies, especially the IISA’s preferred track, or who are relatively new to the industry with an appropriate tertiary qualification which is not insurance related.


Page | 9

STEP 2 Option A Higher Certificate in Short Term Insurance

Subjects

Full Qualification comprising of 6 subjects, granting a total of 120 credits @ level 5

Accreditation

SAQA ID 83526 quality assured by the Council on Higher Education

Historical recognition may be granted for IISA Programmes offered by UNISA CBM and qualified up to and including 2014

Description



For those who are seeking a deeper understanding of practical, applied subject matter in various fields of short term insurance.

IISA Professional Membership

Satisfies the academic requirements for election as a Licentiate Member of the IISA

Presented by:

Milpark Education (Pty) Ltd

FSB Recognition

Recognised as qualification number 232 on the FSB’s published list of qualifications as specific for both short term commercial and personal lines and generic to all other insurance product categories



STEP 2 Option B National Certificate in Short Term Insurance

Subjects

Full Qualification comprising of a total of 120 credits @ level 5

Accreditation

SAQA ID 57918 quality assured by INSETA

Description



For those who are seeking a deeper understanding of practical, applied subject matter in various fields of short term insurance.


Satisfies the academic requirements for election as a Licentiate Member of the IISA


Page | 10

Presented by:

Insurance Learning Academy

FSB Recognition




STEP 3 IISA Introductory Programme + Programme in Advanced Insurance Practice

Subjects

10 semester modules subjects comprising a total of 120 credits @ level 6

Introductory Programme in Advanced Insurance Practice 5 modules 60 credits; plus Programme in Advanced Insurance Practice 5 modules 60 credits

Selected from a choice within one of two streams (Short Term Insurance or Long Term Insurance)

Description

More specialist subject matter of insurance technical practice.


Either to deepen knowledge in one or more fields or to broaden the understanding of the insurance sector and gain the ability to apply the acquired knowledge in practical management situations.


Satisfies the academic requirements for election as an Associate Member of the IISA.

Presented by:

UNISA Centre for Business Management

FSB Recognition


STEP 4 Programme in Risk Management

Applicants must have held Associate status for at least one year and have completed The Programme in Risk Management offered by UNISA. This is the only programme which has been approved by the IISA’s Professional Standards Committee, but others may be considered.


Satisfies the academic requirements for election as a Fellow of the IISA.

There are additional criteria for membership purposes, other than the qualification, which can be obtained from the Membership Officer.

FSB Recognition



Page | 11


To demonstrate a high level of understanding and application of knowledge within the broader field and to achieve the well-recognised Fellowship standing with the IISA

Useful Contact Details

Insurance Institute of South Africa Tel : 0861 00 4472 / 011 341 9480 E-mail : [email protected] Web Site : www.iisa.co.za

UNISA Centre for Business Management IISA Programmes in Insurance Tel: (012) 352 4228 Tel: (012) 352 4377 E-mail: [email protected] E-mail: [email protected] Web Site : www.unisa.ac.za/iisa

Milpark Education (Pty) Ltd Tel : (011) 718 4000 Email : [email protected] Web Site : www.milpark.ac.za

Botswana Accountancy College Oscar Chomba, Insurance Course Manager Tel : (267) 395 3062 E-mail : [email protected] Web Site : www.bac.ac.bw

Insurance Learning Academy Tel : 0861 045 272 E-mail : [email protected] Web Site : www.learninsurance.co.za

mailto:[email protected]


http://www.milpark.ac.za/

http://www.bac.ac.bw/

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FSB Qualification List – Board Notice 268 of 2013

The IISA commends the FSB on the release of the revised qualification list issued in Board Notice 268 of

2013.

For ease of reference we hereby confirm the Short Term Insurance qualifications listed and their

recognition are as follows:

I I S A

D E S I G N A T I O N

Q U A L

N O

Q U A L I F I C A T I O N

T I T L E I D N O L E V E L C R E D I T S

S H O R T

T E R M

P E R S

L I N E S

S H O R T

T E R M

C O M M

L I N E S

Fellow (FIISA)

356

FELLOWSHIP OF THE

CHARTERED INSURANCE

INSTITUTE (FCII) FOREIGN

QUALIFICATION

FSB006 FOREIGN QUALIFICATION

124

ADVANCED DIPLOMA IN

INSURANCE MANAGEMENT

College of

Insurance

FSB0202

7 120

93 PROGRAMME IN RISK

MANAGEMENT

UNISA

75949 6 108

Associate (AIISA)

278

DIPLOMA: INSURANCE

(SPECIALISATION IN SHORT-

TERM INSURANCE)

College of

Insurance

20412

6 120 S S

808

ASSOCIATESHIP CHARTERED

INSURANCE INSTITUTE

(ACII) FOREIGN

QUALIFICATION

CII / College

of Insurance

FSB0133

FOREIGN QUALIFICATION S S

304

IISA PROGRAMME IN

ADVANCE INSURANCE

PRACTICE

UNISA

FSB044 6 120

Licentiate (LIISA)

232

HIGHER CERTIFICATE:

SHORT-TERM INSURANCE

College of

Insurance

20411

5 120 S S

232

HIGHER CERTIFICATE:


Milpark

Business

School

83526

5 120 SP SP

669 IISA PROGRAMME IN SHORT

TERM INSURANCE

UNISA

76546 5 120 S S

212 NATIONAL CERTIFICATE

SHORT TERM INSURANCE 57918 5 120 S S

IISA Member Level 3

218

FURTHER EDUCATION AND

TRAINING CERTIFICATE:


INSETA

49929/66610 4 150 S S

219

FURTHER EDUCATION AND

TRAINING CERTIFICATE:

SHORT-TERM RISK

MANAGEMENT

INSETA

57613 4 160 S S

213 NATIONAL CERTIFICATE:

RISK MANAGEMENT

INSETA

24396 4 140 S S

212 NATIONAL CERTIFICATE:


INSETA

21796 4 120 S S

Page | 13

Professional Membership Criteria and Application Process

The IISA have two different types of membership categories, which are General Members and

Professional Members.

Professional Membership is awarded to those who have achieved an Academic Status as well as

being recognised for their achievement in the industry. For this purpose the detail of this document

sets out the criteria required for each Professional Membership Designation awarded by the IISA.

It is important to note that although each Professional Designation is awarded in recognition of a

qualification achieved, that this is not the only criteria for the Designation Status.

The three Professional Designations are:

Licentiate;

Associate; and

Fellow

Annual membership fees are applicable which are published on the IISA website www.iisa.co.za

The requirements for each Professional Designation are as follows:

http://www.iisa.co.za/

http://www.google.co.za/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&docid=AAX8yhCYwrov7M&tbnid=JjXkzB035q44YM:&ved=0CAcQjRw&url=http://www.wvucancer.org/research/Members&ei=SgsZVK3hKcmQ7Aam4YCQDg&bvm=bv.75558745,d.bGQ&psig=AFQjCNEdXCzJSZ-LuRa8hLjy4ObsGTIP5Q&ust=1411013789686476

Page | 14

SOUTH AFRICAN CITIZENS AND/OR PEOPLE WORKING IN THE SOUTH AFRICAN MARKET

1. Higher Certificate in Short Term Insurance, SAQA ID 83526 with Milpark Education (Pty) Ltd, NQF Level 5

OR Achievement of the National Certificate in Short Term Insurance, SAQA ID 57918 with Insurance Learning Academy, currently at NQF Level 5

AND

2. Employed in the Insurance or related industry of South Africa or SADC Region

AND

3. 15 hours CPD each year from 1 July to 30 June

1. Achievement of the Licentiate Status

AND

2. IISA Programme in Advanced Insurance Management with UNISA – this includes both the Introductory Programme and Programme, currently at NQF Level 6;

OR Historical ACII from the CII of London achieved before 1992

OR Historical Diploma in Insurance with College of Insurance achieved before 2006

AND

3. 3 years overall industry experience employed in the Insurance or related industry of South Africa or SADC Region

AND


1. Practicing as an Associate for 1 year

AND

2. Achievement of the Programme in Risk Management with UNISA currently at NQF Level 6;

OR Historical FCII from the CII of London achieved before 1992

OR Historical Advanced Diploma in Insurance Management from College of Insurance before 2006

AND

3. 5 years overall industry experience employed in the Insurance or related industry

AND


Page | 15

SADC CITIZENS AND/OR PEOPLE WORKING IN THE SADC MARKET

1. Achievement of one of the following qualifications;

• Higher Certificate in Short Term Insurance, SAQA ID 83526 with Milpark Education (Pty) Ltd, currently at NQF Level 5

• National Certificate in Short Term Insurance, SAQA ID 57918 with Etana Academy or Insurance Learning Academy, currently at NQF Level 5

• Diploma in Insurance certified by the Chartered Insurance Institute (CII)

AND

2. Employed in the Insurance or related industry in the SADC Region

AND



AND

2. Achieved one of the following qualifications or further study:

• IISA Programme in Advanced Insurance Management with UNISA – this includes both the Introductory Programme and Programme, currently at NQF Level 6;

• ACII from the CII of London; • Historical Diploma in Insurance with

College of Insurance achieved before 2006;

• Diploma in Insurance from IIZ, only if co-signed by CII London

AND


AND



AND

2. Achieved of one of the following qualifications:

• Programme in Risk Management with UNISA currently at NQF Level 6;

• FCII from the CII of London; • Historical Advanced Diploma in

Insurance Management from College of Insurance before 2006

AND


AND


Page | 16

EXPATS EMPLOYED IN OTHER COUNTRIES

1. Achievement of one of the following qualifications;

• Higher Certificate in Short Term Insurance, SAQA ID 83526 with Milpark Education (Pty) Ltd, currently at NQF Level 5

• National Certificate in Short Term Insurance, SAQA ID 57918 with Insurance Learning Academy, currently at NQF Level 5

• Diploma in Insurance certified by the Chartered Insurance Institute (CII)

AND

2. Employed in the Insurance or related industry outside of South Africa or SADC region

AND

3. 15 hours CPD each year from 1 July to 30 June OR submit CPD for other body where applicable ie Australia and CII in the UK


AND

2. Achievement one of the following qualifications or further study:

• IISA Programme in Advanced Insurance Management with UNISA – this includes both the Introductory Programme and Programme, currently at NQF Level 6;

• ACII from the CII of London • Historical Diploma in Insurance with

College of Insurance achieved before 2006

AND


AND



AND

2. Achievement of one of the following qualifications:

• Programme in Risk Management with UNISA currently at NQF Level 6;

• FCII from the CII of London; • Historical Advanced Diploma in

Insurance Management from College of Insurance before 2006

AND


AND


FOREIGN PROFESSIONAL MEMBERSHIP APPLICATIONS

Page | 17

Any person applying for Professional Membership

recognition outside of South Africa, must submit a

detailed academic record of achievement with

their application form. Please note that these

applications are restricted to persons working and

operating in the SADC Regions only.

Persons converting from the Institutions with

qualifications in Insurance and Risk Management

are granted exemptions as shown in the table

below.

APPLICATION PROCESS

1. Applicants applying for membership need to complete a membership application form and provide all supporting documentation.

2. A checklist is completed by the membership officer verifying all the information received confirming relevant: a. industry employment and experience b. qualifications against level of

membership for which the applicant has applied

c. copy of the code of conduct is signed and received

d. progression requirements if the applicant is already a member and applying for approval at the next level of membership

3. Applications are then sent to two members of the Membership Committee for approval, as two signatures are required to sign off acceptance of the application

4. Once the applications are approved the applicant is notified of the approval, and the applicants details are captured on the Membership System, and documents are filed in hard copy

FOREIGN INSTITUTION UNISA QUALIFICATION EXEMTPED MODULES MODULES TO COMPLETE

National University of Science and

Technology - Zimbabwe

IISA Programme in Short Term Insurance

– NQF Level 5

AND

IISA Programme in Advanced Insurance

Practice – NQF Level 6

Legal Framework of Insurance and

Introduction to Risk Management

Risk and Insurance and

Principles of Life OR Principles of Short Term

Insurance

Legal Framework of Short Term and

3 Elective subjects

3 Elective Technical subjects

Institute of Zimbabwe – Diploma in

Insurance

IISA Programme in Short Term Insurance

– NQF Level 5

Commercial Insurance Practice Legal Framework of Insurance and

3 Elective Technical subjects

Institute of Zimbabwe – ACII IISA Programme in Advanced Insurance

Practice – NQF Level 6

Risk & Insurance and

Insurance Broking

Principles of Life OR Principles of Short Term

Insurance and

2 Elective subject (depending on the modules

completed)

Page | 18

Continuing Professional Development

With the event of SAQA approving the IISA as a

recognised professional body in November 2012

the IISA CPD requirement came into effect. One

of the key elements to this approval is that the

professional body must have a CPD programme

and the maintenance of a professional

designation must include an element of CPD

requirements.

In pre-empting this requirement, the IISA set up a

process, system and programme for CPD, which

was launched at the 2012 Insurance Conference.

This launch was progressive in terms of activities

being designed on the recording system, which

we can now confirm is complete.

One of the key challenges with CPD is marketing,

in the sense of to whom CPD applies, and

ensuring enough events are registered on the

programme. The IISA is not looking to redesign

or reinvent the good work being produced by the

industry in this regard, and would therefore

rather encourage Local Institutes, Employers and

other industry partners to register these events

with the IISA for recognition, for which a small

administration fee is charged.

Further to this the IISA are in process of

developing an online system, through which

members and non-members will be able to logon

via the IISA membership system and complete

various types of CPD activities, thereby making

CPD accessible to all whom it affects.

The other key challenge with CPD is

communication. Whilst the IISA is keeping and

retaining a database of contact details for people

in the industry, we still struggle to communicate

with all affected.

It is within these two key challenges that the IISA

seek to work with our CPD Partners in ensuring a

best practice process to the benefit of the

industry.

Registration Process

1. Submit the registration form, agenda and proof of payment to [email protected];

2. The IISA then rate the event and create it on the system;

3. On the day of the event, request attendees to sign an attendance register which contains name, surname, ID number and email address of each person (verification of ID or drivers license is required);

4. After the event submit the attendance register to the IISA for upload.

The administration fee is annually per topic, so

once the above rating is granted the event can

run more than once in the year without further

payment required. The payment covers the IISA’s

administration costs as well as contacting the

attendees who are not in the IISA system, and

requesting their information in order to record

their CPD, should they so wish. The event is

published to the IISA CPD calendar, which is

communicated to the broader community.

Local Institutes, employers and other industry

partners that host many educational workshops

and topics in a year, pay a reduced administration

fee, if they advise the IISA of the number of

topics they plan to address. This then also

reserves the space for these sessions on the IISA

CPD Calendar.


Page | 19

What you need to know about CPD

What is CPD?

CPD is a means of staying up to date and current with market activity, changes in legislation and practice,

changes in areas of specialization or simply further study in qualifications related to your market.

For Professionals with professional designations it is a means of jealously guarding their profession and

committing to maintain a standard of knowledge and currency in their profession.

CPD can happen in many different ways through self study and reading or attendance at external

programmes or sessions. Therefore CPD is something that should be carefully planned, budgeted for and

thought through for each person’s relevance and purpose.

CPD Requirements

There are two different sets of requirements in the financial services industry. Those for professional

members of professional bodies and those for regulatory FAIS requirements. As a professional body the

IISA have concentrated on ensuring that by meeting your professional requirement you have also met your

regulatory requirement.

The IISA requirement for professional members is 15 hours for the membership cycle starting 1 July 2014 to

30 June 2015.

The FSB have not yet announced the start of these requirements, so only the Professional Body CPD

requirements are applicable as at the date of this publication.

What type of activities am I required to do?

The IISA have a CPD calendar of events on the website www.iisa.co.za for planning purposes for members

to consult.

These events include conferences, seminars, courses and workshops, and qualification study and must be

verifiable. As more events are planned, the calendar will be updated.

Should you:

1. author any articles for publications relating to the industry which are published, you can submit

the article with the relevant supporting documentation;

2. update or author any learning material relating to the industry, you can submit the title of the

material with the relevant supporting documentation;

3. provide any lectures or presentations on industry related topics, you can submit the agenda;

4. participation on industry committees; you can submit the front page of the minutes indicating

your attendance at the meeting

with a summary of your time spent, we can evaluate the relevant CPD recognition.


Page | 20

How much will CPD cost?

There are discounts offered to IISA members for the cost of certain events, so being a member of the IISA

entitles you those discounts.

The critical issue when considering the costs is to ensure that you choose the activities most relevant to

you, as not all CPD activities require a registration fee. Some Companies have also registered their internal

training programmes which will also not require a registration fee, so consider what your company

communicates internally as well.

How is my CPD activity and/or attendance recorded?

All of the companies organizing and providing CPD activities are required to register your attendance, using

your signature and ID number which is also verified at the time of your attendance at the event for

verification purposes. After the event it is the organizers responsibility to provide the IISA with a copy of

the attendance register, with each person’s ID number, signature and email address.

The IISA then records the CPD for each person on the IISA System. Should the person not reflect on the

system, the IISA sends an email requesting the person to complete a personal information form, which then

allows us to record the CPD allocation for that individual. Once the FSB FAIS CPD requirements are

implemented and systems are online the IISA will do regular uploads to the FSB system of all recorded CPD

activities.

For compliance purposes, professional members have free access to their CPD record via the IISA website,

whereas non-members may be asked for a nominal fee to access their CPD record. Company reporting is

also available from the IISA on request.

Individual CPD records and company reports are also available for given periods, so when requesting a

report, a date selection is necessary to state the timeframe the report should reflect.

Recording of qualification study

Please note that due to confidentiality laws educational institutions may not provide the IISA with

individual records, therefore it is necessary that individuals submit their statement of results for

successfully completed subjects to be recorded for CPD purposes.

What if I operate in Long Term and Short Term?

The IISA and FPI work together collaboratively, and therefore would recommend that long term activities

be attended and recorded by the FPI and short term with the IISA, unless otherwise arranged. However it

is necessary to note that the FPI and IISA do not share records or systems.

Page | 21

How do I access my records?

From the IISA website, click on ‘my Records Login’ under ‘Belong’ and log into the system using your ID

number and surname. If you are a paid up member your Academic and CPD records will reflect as PDF

documents under the Membership and CPD tabs respectively. In selecting the CPD record you will be asked

for a date range for which you would like the record to display. Once the date range is selected, the PDF

record will download.

Please note that we need to have your updated ID number for this system to function. If we have an old ID

number, please update your records with us.

What if I am a member of the CII in London and the IISA and am doing CPD for CII?

You are welcome to submit your activity to the ISIA for evaluation, and we will communicate with you on

an individual basis.

What happens if I do not fulfill my CPD requirement in the given time?

For professional members, the designations may be revoked, which has an unintended regulatory impact

on the license in terms of honesty and integrity.

For non-members of professional bodies, but who are registered with the FSB, there will most likely be

debarment consequences for not fulfilling the CPD requirement, when the FSB processes for CPD are

implemented.

For more information please visit the IISA website or contact Charmaine Koch on [email protected] or

Lizzel Badenhorst on [email protected]



Page | 22

CPD Definitions PURPOSE:

The IISA provides an implementation and

administrative service for the Short Term

Insurance Industry, for the purpose of defining

and classifying CPD activities, recording these

activities and providing the FSB with monthly

reporting in respect thereof.

This document serves to provide definitions

relating to such CPD activities for the guidance of

providers and the industry.

The IISA has remained open to the industry and

to INSETA in respect of these activities and has

representation from SAIA, FIA, SAUMA and

INSETA on the CPD Committee. The function of

the committee is to provide guidelines with

which the IISA can rate and approve activities for

CPD purposes as well as commenting on the

administrative processes that the IISA adopts for

this purpose.

It is also a focus of the committee to ensure that

there are activities relating to job functions

within the industry, making CPD accessible and

relevant to all who require it.

1. CPD FOR COMPANIES

As the IISA understands that there are many

Companies who offer in-house training

programmes for their staff, and the practicality

of, and limitations for all staff being able to

complete their CPD requirement, IISA would like

to offer the opportunity to Companies to have

their in-house training programmes recognised

for CPD purposes.

In view of the above, Event Organisers, Training

Providers and Employers, are invited to apply for

recognition for their activities with the IISA for

CPD purposes, by completing the Application

Form and submitting it to the IISA. Application

forms can be found on the IISA website

www.iisa.co.za The IISA will then conduct a

quality check on these activities in order to

ensure that a standard is maintained and advise

on the rating of such activities for CPD purposes.

2. CPD FOR INDIVIDUALS

In order to enable individuals to participate in

IISA Activities it is necessary for them to plan

their industry activity for the year. For this

purpose a CPD Planning Template has been

provided as Addendum B.

The IISA regularly publish a CPD Activities

Calendar of events that have been registered for

CPD purposes. This calendar is also available on

the IISA Website, and updated regularly. This

calendar is by no means prescriptive, but

provides individuals with activities to choose

from. Should members participate in other

activities that would be regarded for CPD

purposes, they can submit these using the CPD

application form for consideration.

There are examples of CPD Plans provided to

enable individuals to make informed decisions on

their CPD Plans.


Page | 23

3. TYPES OF CPD ACTIVITIES

4.1 COURSES / WORKSHOPS

Definition: These are programmes which, do not

lead to a qualification and could be license

product category specific, interactive, case study

or debate sessions, or non license product

category specific (ie computer training, soft skills

training) which can be evaluated pre and post

attendance

Local Institutes and other providers (Training

Companies or Product Suppliers) of workshops

are welcome to apply to the IISA to have their

workshops approved for CPD purposes.

i. Specialist Courses

Marine

Construction and Engineering

Reinsurance

Liabilities

Interruption Insurance

ii. Local Institute Courses

iii. Corporate Courses

iv. Other Association Courses

CRITERIA FOR CONSIDERATION (for application

and approval) 1. Presented by accredited training providers OR in house

training departments. Not intended for casual on the job training

2. Specific known course content needs to be available

3. Whether there is a formal assessment of the course

RATING

Hour equivalent rating:

with assessment – 100% of classroom hours plus an

allocation of 25% hours should be allowed for a pass.

no assessment – 100% of classroom hours

4.2 CONFERENCES

Definition: Conferences are considered to be

once off annual events, presented by industry

bodies or product suppliers. Conferences that

will be considered for CPD must be of

Professional Development value in which the

sessions particularly address multiple subjects of

technical value to the attendees.

i. Institute of Loss Adjusters Conference

ii. Financial Planning Institute Conference


and approval) 1. Open for attendance by any interested party i.e. not an

“in house” conference – eg an annual budget conference

2. The structure should encourage wide based attendance.

3. Three types of conferences have been identified:

3.1. Networking Conference: no specific learning component - general interest presentations only

3.2. International Insurance Conference: specific conference presented at international level in which delegates share and learn from experiences in activities in other countries

3.3. Professional Development: specific learning focus by way of dedicated workshops

RATING 1. Networking Conference: hour equivalent rating of 10%

of conference sessions

2. International Insurance Conference: hour equivalent rating 100% of time spent in conference sessions

3. Professional Development: hour for hour of sessions attended rating

4.3 SEMINARS

Definition: Specific content presentations with

Frequently Asked Questions

i. The Insurance Forum Seminars

ii. Insurance Bootcamps

Page | 24


and approval) 1. Ease of access

2. Ability to be packaged and delivered countrywide. Video presentation or podcast of the original

3. Low or no cost

4. Short duration 1 to 2 hours

5. High frequency - monthly or quarterly

6. Pre question facility i.e. areas of concern can be submitted pre event to ensure as many answers as possible can be addressed so the learning is maximized.

RATING

Hour equivalent rating – 50% of seminar duration –

excluding any aspects such as breakfast

4.4 STUDIES LEADING TO FORMAL ASSESSMENT

Definition: Studies in addition to Fit and Proper

Qualifications. An individual choosing to do a

qualification as a means of CPD, must declare at

the beginning of the CPD cycle that this is his/her

intention and submit a copy of their registration

and study plan with the relevant Institute. Such a

declaration will exempt the person from having

to do any other CPD activity to qualify for their

rating.

i. Milpark Business School

ii. UNISA

iii. other

Upon completion candidates are required to

submit their exam results in respect of the study

plan submitted in order to qualify for the

exemption provided.


and approval) 1. Standards will be set by the educational authorities

other than the IISA. The IISA will use the relevant qualification criteria and study plan by which to measure the CPD rating.

RATING

Hour equivalent rating – a rating of 30 minutes per credit

will be allocated (ie a 30 credit skills programme will

accumulate 15 CPD hours)

4.5 STRUCTURED SELF STUDY (WEB, COMPUTER OR PAPER BASED)

Definition: This activity would be of particular

interest to people operating in niche markets,

outlying areas of the country or who have a very

high level of qualification already. This activity

may also be done as a research and development

activity for a Company. Candidates must produce

a CPD (self/personal development) plan showing

what the person wishes to achieve, and must

secure a mentor for this activity who will support

and guide the person through the activity. This

must be submitted at the start of the CPD period

to the IISA for approval. A six monthly report is

to be submitted by the mentor to confirm the

progress the person is making towards achieving

their goal, as stated in the CPD plan. Activities

must be verifiable, and at the end of the period

the candidate submits details of activities

completed which will be measured against the

plan.

Details to be approved on a case by case basis,

unless a particular area of self study is proven to

be predominant in a certain area of the sector, on

which basis details can be drafted


and approval) 1. A CPD plan must be submitted

2. A mentor must be appointed and registered as such with the IISA (either an employer or an independent mentor) preferably the line manager or if a senior person or a sole practitioner, by a peer or their FAIS compliance officer confirming that a process was followed.

3. Six monthly progress reports must be submitted to the IISA by the mentor

4. In the event of an employee / employer activity, a performance appraisal or company research and development plan is to be submitted as compulsory documents for verification purposes

5. The final submission by the candidate must include a document in essay format of no less than 3000 words with a bibliography of resource references.

RATING

Rating criteria – 100% of CPD hours

Page | 25

4.6 INDUSTRY COMMITTEE PARTICIPATION

Definition: These Committees must be formally

constituted and present a regularly recurring

programme that extends for a year, with a

minimum of 4-6 meetings. Committees which

will receive recommendation need to apply for

recognition with a list of participants. CPD rating

will only be approved for people who are shown

to have been present in the committee meetings

held.


and approval) 1. A copy of the terms of reference for the committee

must be presented

2. An attendance list of committee members present in meetings (ie the front page of the minutes), showing the date, time and duration of the meeting, and the committee members who are present in the meeting.

RATING

Rating criteria – 25% of Committee meeting hours to be

allocated

4.7 LECTURING IN INSURANCE OR PRESENTING AT AN INDUSTRY FORUM

Definition: Lectures or presentations, delivered

at meetings as a lead speaker, discussion leader

or instructor, which are directed on topics

presented to professionals and related to topics

listed in Addendum A of this document, will be

accepted. CPD allocation will only be allowed in

respect of the first presentation per reporting

period. CPD allocation will be capped at 50% of

the overall CPD rating in the reporting period.


and approval) 1. An accredited/recognised institution for lectures

2. A presentation on a topic from list in Addendum A

3. Agenda from the Organiser of the Event at which a Presentation is delivered, OR a Lesson Plan or outline of the Programme for a Lecture given

4. List of references used to source information

RATING

1. Lecture rating criteria – 25% of delivery time of lecture

2. Presentation rating criteria – 75% of presentation time for first presentation, with 25% of presentation time for subsequent presentations

4.8 MATERIAL DEVELOPMENT AND UPDATING

Definition: Authorship, co-authorship and the

editing of books, instruction and training manuals

are accepted, if the material published relates to

the list of topics in Addendum A of this

document.


and approval) 1. Evidence must include date of publication and show the

member as the author, or co-author, or editor of the material


3. Logbook or Journal of research hours spent

4. Number of pages

RATING

Rating would need to be assessed on the complexity and size

of the project, and related to the number of pages

30% of research time for authorship

20% of time for updating existing material, and

10% of time for editing existing material

4.9 MENTORSHIP

Definition: Providing instruction, guidance and

support to trainees or examination students.

(Differentiation between Mentorship and

Coaching) – As per Mentorship Guide

Page | 26


and approval) 1. Sign off of CPD Training Plan

2. Six monthly Progress Reports submitted to the IISA

3. Logbook or Journal of mentorship hours spent

RATING

20% of mentorship time

4.10 WRITING ARTICLES THAT ARE PUBLISHED

Definition: Technical authorship – writing reports

and articles which are published for use by others

and if the content published relates to list of

topics in Addendum A of this document.


and approval) 1. Evidence must include date of publication and show the

member as the author, or co-author, or editor.


3. Logbook or Journal of writing hours spent

4. Number of words

RATING

Rating would need to be assessed on the complexity of the

topic, and relate to number or words of the article

Hour for hour spent writing the article

4.11 PROFESSIONAL READING

Definition: Members who wish to receive a CPD

rating for Professional Reading will be required to

apply for approval by means of a CPD Training

Plan, and maintain a reading journal (Addendum

C), which is to be submitted to the IISA quarterly

and provide the following for auditing purposes:

1. List of the author’s name, title of book, journal or newspaper, name, place and year of publication, and page numbers;

2. Describe how the content of reading has contributed to the individual’s ability to operate more effectively in a professional manner for current and future clients, or the enhanced business practice of the individual; and

3. Record the number of hours spent reading in a journal.


and approval) 1. Is reading topical and current / related to the persons

area of interest. / related to topics from Addendum A


3. Logbook or Journal of reading hours spent

RATING

Rating would need to be assessed on the complexity of the

topic.

4. REPORTING PROCESS All records submitted to the IISA for either

Corporate or Individual events must reflect the

attendees ID number for recording purposes. If

there is no ID reflected the IISA will not be able to

upload the record for that person.

With the confirmation of registering an event, the

event organiser is supplied with the following:

Rating confirmation for the event

Requirements for communication with attendees in line with protection of personal information legislation

Requirements for attendance register for audit purposes and

Template for the import file to upload CPD

In terms of Protection of Personal Information

legislation it is imperative that the Event

Organiser communicate the CPD registration of

the event with the attendees. Attendees need to

provide consent to the event organiser for the

IISA to record their CPD rating for the event.

CPD reports for compliance and company

purposes are available from the IISA on request.

Page | 27

5. RATING SUMMARY OF CPD ACTIVITIES

The table below is a summary of the rating for the CPD Activities listed above for ease of reference.

CPD ACTIVITY RATING

Courses and Workshops 100% of classroom time

125% if assessed

Conferences Networking Conference 10% of sessions attended

International Industry

Conference

25% of sessions attended

Professional Development Conf 100% of sessions attended

Seminars 50% of duration of seminar

Studies Leading to formal Assessment 30 mins per credit rating of

programme

Self Structure Study Programme 100% of hours

Industry Committee Participation 25% of committee

participation

Insurance Lectures 25% of lecture time

Insurance Presentations 75% of presentation time

for 1st presentation

25% of presentation time

for subsequent

presentations

Material Development / Update Authorship of new material 30% of research time

Updating existing material 20% of time

Editor 10% of time

Mentorship 20% of time spent

mentoring

Writing Articles for Publications 100% of time spent

Professional Reading 10% of time spent

Page | 28

6. LIST OF RELEVANT TOPICS (SHORT TERM INSURANCE) Underwriting

Marine Motor

Business Interruption Liabilities

Professional Indemnity Reinsurance

Construction Engineering

Directors & Officers Entertainment (eg insuring events or film projects

etc)

Guarantees Warranties

Travel Financial Aspects of Underwriting

Claims

Third Party Recovery of losses and Mitigation

Claims Assessing Claims Monitoring / Management

Salvage Loss Assessors (processes and reports)

Legal Process related to claims Claims relating to a specific underwriting category

Insurance Concepts

Loss Ratios Retention Limits

Underwriting Criteria Reinsurance

Basic principles (eg Insurable Interest, Average, etc) Financial Reporting (eg star returns, reserving)

Risk Management SASRIA

Legislative/Governance Requirements

FAIS FICA

KING III Short Term Insurance Act

Health and Safety Legislation (including COID) Companies Act

Financial Legislation HR Legislation impact on insurance

Black Economic Empowerment impact on insurance Consumer Protection Act

Protection of Personal Information Act Road Accident Fund

Risk Management

Legislative compliance Risk Management tools / solutions

Disaster Recovery Quality Control

Impact of IT on Risk Management Impact of people aspects on Risk Management

General Business Skill (should have application to insurance)

Report writing Computer Literacy

Business Communication Basic Financial Statements

Distribution Channels (eg Call Centres) Sales Management

Non Financial Product Related Events / Skill (should have application to insurance)

Health and Safety Aviation Conference

Maritime Conference Fire Prevention Expo

Motorshow Engineering Expo

Page | 29

Member and Student access to IISA System

1. From IISA website, www.iisa.co.za select the ‘MEMBER’ menu item

2. From the ‘INDIVIDUALS’ option select ‘my RECORDS Login’


Page | 30

3. Now click on access link to IISA System

4. Insert your ID and surname and enter

Page | 31

5. If the person is a paid up member the system will directly display the information for the individual,

unless we do not have the latest ID recorded in the system. Should an error occur, please follow

the instructions in the note box (as indicated below), to update your details with us, or to apply for

membership if you so wish.

Please note that in order for us to update an old ID number, or to change a surname, we need a

copy of your ID document.

Non SA Citizen must please search on the Alternative ID Number that was supplied to iiSA.

SA Citizens that did not provide a valid SA ID Number must please search using the Alternative ID Number as per the information supplied to iiSA.

If you are unable to search for your records, please contact Elma Mackrill at [email protected]

If your information has changed, please download and complete this form (Update Member Details) and email it to Elma Mackrill at [email protected]

6. If the person is not a member, an error box (shown below) might display. Click on OK and the

system will then allow read only access of the information for the person.


http://membership-qualifications.iisa.co.za/_lib/files/member_update_2011.pdf


Page | 32

7. Should any of the details reflected not be up to date, please complete the update member detail

form as shown in point 5 above and send it to us to update the system.

8. One can now view the various details in the system by navigating the Personal Details, Contact

Details, Employment Details, Academic Record, CPD and Membership tabs.

9. Please note that the difference between a non-member and a paid up member is reflected under

membership details as a non-member will have the option to download the membership

application form, where as a paid up member will have the option to download the academic

record, and the status of membership with the applicable effective date will be displayed.

10. CPD Records

Only a paid up member will be able to download their CPD record, which will display as shown

below, whereas a non-member will be required to pay a nominal fee to have the CPD record sent

to them upon request.

Page | 33

By clicking on the CPD Report, a date selection box will open, in which a person may choose the

date from which and to which the CPD report should reflect.

Once the search has completed the system will produce a CPD record for the member, which can

be submitted for company or compliance purposes.

11. Enquiries

Please contact us on

Tel: +27(0)861 00 IISA (4472)

E-mail: [email protected]

Web Site: www.iisa.co.za

All relevant prices and application forms are published on the IISA website www.iisa.co.za




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The Insurance Institute of South Africa NPC

Association incorporated under Section 21

Reg No: 1993/002172/08

Physical Address: 1st floor Victoria Gate South, Hyde Park Lane

Cnr Jan Smuts Ave & Hyde Lane, Hyde Park, 2196

Postal Address: PO Box 413264 Craighall 2024

Tel: +27(0)861 00 IISA (4472) Fax: +27(0)861 01 IISA (4472)

E-mail: [email protected] Web Site: www.iisa.co.za


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