The Australian and New Zealand Institute of Insurance and Finance (ANZIIF), also known as ''the Institute'', is a

professional association A professional association (also called a professional body, professional organization, or professional society) is a group that usually seeks to advocacy, further a particular profession, the interests of individuals and organisations engaged in ...

and education provider for the

insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect ...

and

financial services Financial services are service (economics), economic services tied to finance provided by financial institutions. Financial services encompass a broad range of tertiary sector of the economy, service sector activities, especially as concerns finan ...

industry in the Asia-Pacific region. ANZIIF was founded in 1884, making it one of the oldest professional associations in the region.

History

The Victorian Insurance Institute was formed in July 1884 and was followed by the

New South Wales New South Wales (commonly abbreviated as NSW) is a States and territories of Australia, state on the Eastern states of Australia, east coast of :Australia. It borders Queensland to the north, Victoria (state), Victoria to the south, and South ...

Insurance Institute in August 1884. In 1911, the

Western Australia Western Australia (WA) is the westernmost state of Australia. It is bounded by the Indian Ocean to the north and west, the Southern Ocean to the south, the Northern Territory to the north-east, and South Australia to the south-east. Western Aust ...

Insurance Institute came into existence and the

South Australia South Australia (commonly abbreviated as SA) is a States and territories of Australia, state in the southern central part of Australia. With a total land area of , it is the fourth-largest of Australia's states and territories by area, which in ...

Insurance Institute did so in 1913. Across the

Tasman Sea The Tasman Sea is a marginal sea of the South Pacific Ocean, situated between Australia and New Zealand. It measures about across and about from north to south. The sea was named after the Dutch explorer Abel Janszoon Tasman, who in 1642 wa ...

, the Insurance Institute of

New Zealand New Zealand () is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island () and the South Island ()—and List of islands of New Zealand, over 600 smaller islands. It is the List of isla ...

(IINZ) formed in 1937 through the merger of the Insurance Officers Guild of New Zealand (formed in 1920) and the Faculty of Insurance (formed in 1933). The federalist Institute model had been proposed originally in

Australia Australia, officially the Commonwealth of Australia, is a country comprising mainland Australia, the mainland of the Australia (continent), Australian continent, the island of Tasmania and list of islands of Australia, numerous smaller isl ...

in 1887, but it was not until 1919 that the state Institutes formed 'The Incorporated Australian Insurance Institute' (the word 'Incorporated' was dropped in 1960). In October 2000, members of both the AII and IINZ voted to merge the two

professional associations A professional association (also called a professional body, professional organization, or professional society) is a group that usually seeks to further a particular profession, the interests of individuals and organisations engaged in that prof ...

and the new name of the Australian and New Zealand Institute of Insurance and Finance was adopted. The Australian state-based Institutes, who continued to operate, followed suit in the next twelve months, becoming fully affiliated with the new body. The year 2024 marks 140 years since the first Institute was established and in 2023 ANZIIF celebrated fourteen wins as the leading provider of

and

education Education is the transmission of knowledge and skills and the development of character traits. Formal education occurs within a structured institutional framework, such as public schools, following a curriculum. Non-formal education als ...

training Training is teaching, or developing in oneself or others, any skills and knowledge or fitness that relate to specific useful competencies. Training has specific goals of improving one's capability, capacity, productivity and performance. I ...

and

professional services Professional services are occupations in the service sector requiring special training in liberal arts and pure sciences education or professional development education. Some professional services, such as architects, accountants, engineers, d ...

membership in

and the Asia-Pacific. In January 2024, Katrina Shanks was appointed CEO of ANZIIF.

Crest

The ANZIIF coat of arms, crest and badge were granted in 1982 by the

College of Arms The College of Arms, or Heralds' College, is a royal corporation consisting of professional Officer of Arms, officers of arms, with jurisdiction over England, Wales, Northern Ireland and some Commonwealth realms. The heralds are appointed by the ...

Membership

Membership levels

ANZIIF offers six membership levels with a focus on providing a pathway for

Insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect ...

professionals throughout their careers.

CIP program

The ANZIIF CIP (Certified Insurance Professional) program is recognised as the standard of professionalism for the insurance and financial services industry. CIPs are insurance professionals who have obtained an ANZIIF qualification or recognised equivalent, maintain up-to-date technical skills and knowledge through a program of professional development and abide by the ANZIIF Code of Ethics.

Faculties

ANZIIF members are grouped into faculties which focus on specific areas of expertise. These groups get specialised content, forums to discuss and network, a tailored library of articles and are led by industry specific boards. The faculties are: * Faculty of Insurance Broking * Faculty of Risk Management * Faculty of Claims * Faculty of General Insurance * Faculty of Reinsurance * Faculty of Life & Retirement Income

Member services

Members of ANZIIF have access to a range of member benefits including: Online professional development, a library of news and articles, networking forums, Faculties with tailored content, scholarship programs, an industry journal, mentoring program, events & conferences and advocacy.

Education

ANZIIF is a registered training organisation (RTO) and provides education and training products and services to the insurance and financial services industries. AQF qualifications are offered via distance learning and online and are open to members and non-members of ANZIIF. They are offered in the sectors of

general insurance General insurance or non-life insurance policy, including automobile and homeowners policies, provide payments depending on the loss from a particular financial event. General insurance is typically defined as any insurance that is not determine ...

, insurance broking, loss adjusting,

life insurance Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties. A contract typical ...

risk management Risk management is the identification, evaluation, and prioritization of risks, followed by the minimization, monitoring, and control of the impact or probability of those risks occurring. Risks can come from various sources (i.e, Threat (sec ...

. ANZIIF runs ''Tier 1'' and ''Tier 2'' RG146 programs, the minimum training required by the

Australian Securities and Investments Commission The Australian Securities and Investments Commission (ASIC) is an independent commission of the Australian Government tasked as the national corporate regulator. ASIC's role is to regulate company and financial services and enforce laws to pro ...

(ASIC) by individuals selling financial products. Corporate training programs and RTO options are provided for companies in the industry who do not have their own RTO or training arms. On the short course level, ANZIIF provides a range of conferences, seminars, training and networking opportunities to members and non-members to support the careers of insurance professionals. In 2015 ANZIIF announced a collaboration with the National Insurance Brokers Association, wherein ANZIIF would become NIBA's preferred provider of broking education. NIBA College ceased to take new enrolments from this point forward.

Community

Corporate Supporter program

The Corporate Supporter network comprises a diverse group of companies, large and small, who all have the same desire to see the industry and its people succeed. The Corporate Supporter program was introduced to fund projects that benefit both the insurance industry and the public. The program has three main goals: # Promote and lift the profile of the insurance industry # Support people working in the industry # Help communities understand the role insurance and risk play in their lives.

Careers

A lack of understanding of insurance and opportunities to work in the industry prompted ANZIIF to create the Careers in Insurance initiative. This initiative highlights the scope and size of the industry, as well the vast breath of work opportunities. 100,000 copies of a ‘Careers in Insurance' booklet were given to every high school, university, business school and TAFE in Australia and New Zealand. A website was also designed to educate the public on the importance of the insurance industry to the community and its career opportunities.

Industry awards

ANZIIF hosts both the Australian Insurance Industry Awards and the New Zealand Insurance Industry Awards to honour the achievements of companies and individuals within the insurance market each year. Niche insurer scores double win at ANZIIF awards
www.insurancebusinessonline.com.au

References

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External links

ANZIIF website
Professional associations based in New Zealand Insurance in Australia Organizations established in 1884 Insurance in New Zealand