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) usually seeks to advocacy, further a particular profession, the interests of individuals and organisations engaged in that professio ...

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 hedge ...

and

financial services Financial services are the Service (economics), economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, acco ...

industry in the

Asia-Pacific Asia-Pacific (APAC) is the part of the world near the western Pacific Ocean. The Asia-Pacific region varies in area depending on context, but it generally includes East Asia, Russian Far East, South Asia, Southeast Asia, Australia and Pacific Isla ...

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 ) , nickname = , image_map = New South Wales in Australia.svg , map_caption = Location of New South Wales in AustraliaCoordinates: , subdivision_type = Country , subdivision_name = Australia , established_title = Before federation , es ...

Insurance Institute in August 1884. In 1911, the

Western Australia Western Australia (commonly abbreviated as WA) is a state of Australia occupying the western percent of the land area of Australia excluding external territories. It is bounded by the Indian Ocean to the north and west, the Southern Ocean to th ...

Insurance Institute came into existence and the

South Australia South Australia (commonly abbreviated as SA) is a state in the southern central part of Australia. It covers some of the most arid parts of the country. With a total land area of , it is the fourth-largest of Australia's states and territories ...

Insurance Institute did so in 1913. Across the

Tasman Sea The Tasman Sea (Māori: ''Te Tai-o-Rēhua'', ) 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 Abe ...

, the Insurance Institute of

New Zealand New Zealand ( mi, Aotearoa ) is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island () and the South Island ()—and over 700 smaller islands. It is the sixth-largest island count ...

(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 Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, sma ...

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) usually seeks to further a particular profession, the interests of individuals and organisations engaged in that profession, and the ...

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 2004 marked 120 years since the first Institute was established and in 2015 ANZIIF celebrated eleven wins as the leading provider of

and

education Education is a purposeful activity directed at achieving certain aims, such as transmitting knowledge or fostering skills and character traits. These aims may include the development of understanding, rationality, kindness, and honesty. Va ...

training Training is teaching, or developing in oneself or others, any skills and knowledge or Physical fitness, fitness that relate to specific practicality, useful Competence (human resources), competencies. Training has specific goals of improving on ...

and

professional services Professional services are occupations in the service sector requiring special training in the arts or sciences. Some professional services, such as architects, accountants, engineers, doctors, and lawyers require the practitioner to hold professi ...

membership in

and the

. In October 2013, Prue Willsford 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 ...

. The

blazon In heraldry and heraldic vexillology, a blazon is a formal description of a coat of arms, flag or similar emblem, from which the reader can reconstruct the appropriate image. The verb ''to blazon'' means to create such a description. The vis ...

of the shield on the

coat of arms A coat of arms is a heraldry, heraldic communication design, visual design on an escutcheon (heraldry), escutcheon (i.e., shield), surcoat, or tabard (the latter two being outer garments). The coat of arms on an escutcheon forms the central ele ...

consists of an azure

cross potent A cross potent (plural: crosses potent), also known as a crutch cross, is a form of heraldic cross with crossbars at the four ends. In French, it is known as '' croix potencée'', in German as a ''Kruckenkreuz'', all translating to "crutch cross" ...

symbolising insurance, in particular accident and life insurance. Two anchors and two flames represent marine insurance and security/hope and the flames symbolise learning. The

crest Crest or CREST may refer to: Buildings *The Crest (Huntington, New York), a historic house in Suffolk County, New York *"The Crest", an alternate name for 63 Wall Street, in Manhattan, New York *Crest Castle (Château Du Crest), Jussy, Switzerla ...

incorporates a

helm Helm may refer to: Common meanings * a ship's steering mechanism; see tiller and ship's wheel * another term for helmsman * an archaic term for a helmet, used as armor Arts and entertainment * Matt Helm, a character created by Donald Hamilton * ...

with a wreath and four books that are dedicated to the study of life, fire, accident and marine insurance. They are encompassed by a chain which symbolises security and unity of purpose. The badge of the shield symbolises insurance and learning. The supporters, a

lyrebird A lyrebird is either of two species of ground-dwelling Australian birds that compose the genus ''Menura'', and the family Menuridae. They are most notable for their impressive ability to mimic natural and artificial sounds from their environme ...

(''Menura superba'') and a

wedge-tailed eagle The wedge-tailed eagle (''Aquila audax'') is the largest bird of prey in the continent of Australia. It is also found in southern New Guinea to the north and is distributed as far south as the state of Tasmania. Adults of this species have lon ...

(''Aquila audax''), were chosen to be different from the traditional Australian

kangaroo Kangaroos are four marsupials from the family Macropodidae (macropods, meaning "large foot"). In common use the term is used to describe the largest species from this family, the red kangaroo, as well as the antilopine kangaroo, eastern gre ...

. The wedge-tailed eagle in particular because it symbolised strength and vision. The motto ''E Scientia Utilitas'' translated to the Institute's motto ''Service through Knowledge''. The Institute's logo was modernised in the late 90s with stylised versions of the two birds, shield and books.

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 hedge ...

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, Health & 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 A registered training organisation (RTO), in Australia, is an organisation providing Vocational Education and Training (VET) courses to students, resulting in qualifications or statements of attainment that are recognised and accepted by indust ...

(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 An insurance broker is an intermediary who sells, solicits, or negotiates insurance on behalf of a client for compensation. An insurance broker is distinct from an insurance agent in that a broker typically acts on behalf of a client by negoti ...

, loss adjusting,

life insurance Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death ...

, risk management. ANZIIF runs ''Tier 1'' and ''Tier 2''

RG146 Regulatory Guide 146 (RG 146) on Training of financial product advisers, formerly known as policy statement 146 (PS 146) is an Australian financial regulation issued by the Australian Securities and Investments Commission (ASIC) related to the mi ...

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 Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, ...

. 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