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Insurance Business | 18 Nov 2015, 04:00 PM Agree 0
Two major industry bodies have announced an historic education deal designed to help brokers both now and in the future.
  • Just an Observer | 18 Nov 2015, 04:44 PM Agree 0
    Well well!! At long last some sense on this issue. Only disappointing thing is that it has taken so long to happen. I recall making this suggestion way back in 2006. But of course at the time with the egos of Noel P and Joan F there was no way they would consider what was best for the industry as opposed to their own egos. I think the industry owes Martin McAvenna a vote of thanks for raising this issue after he retired.
    Only hope that ANZIIF don't take this as permission to price gauge the industry to justify employing yet another 40 or 50 staff on high salaries to deliver poor results!
  • Val Phinn | 22 Nov 2015, 04:04 PM Agree 0
    I find it extraordinary that an association body would align itself to one education provider. Imagine the AMA aligning itself to one university. Industries and association bodies across Australia have been using a broad range of private education providers successfully for years. As one of these education providers and an ex QPIB I cannot understand why the broking industry still hasn't moved forward in their thinking and actively encouraged competition in the provision of education. At the end of the day you can dress it up all you like, but the training framework is still the same. It is NIBA and ANZIIF who over the past 10 plus who have been consulted with to develop training framework - they have to take responsibility. One has to ask would this alliance have occurred if there was not competition in the market place. The industry needs to also consider the implications this may have on any amendments made to the Corporations Act and the overall long term costs to SME brokers. As a private education provider we urge the industry to take care. Look at the Loss Adjusting sector and the costs associated with a Diploma because there is no competition.
  • old duck | 24 Nov 2015, 10:03 AM Agree 0
    I fail to see how reducing competition can be seen as a 'win' for the industry. As Val says, ANZIIF and NIBA don't decide on what the competencies for insurance should be - that is the role of a shadowy organisation called IBSA.

    This just gives ANZIIF another reason to push up its costs yet again - which are already sky high.
  • John | 24 Nov 2015, 10:44 AM Agree 0
    I'm not completely sure of the merits of this merger but I don't necessarily agree with the above comments about diminished competition.

    The prevailing competitive market has led to the current training courses being pretty poor. The incumbents are all party to this regime & whilst they may argue that they've complied with the framework, they certainly haven't gone above or beyond it thus I don't think that they're able to preach on the matter.

    There needs to be more academic rigour in these courses, where people learn to genuinely better their knowledge & not just to tick a box. It also needs to be set at a level that requires a certain amount of intellect & graft so that some people fail.

    The intention of this merger seems to be to address these deficiencies, so I'm willing to give NIBA & ANZIIF the benefit of the doubt.
  • old duck | 24 Nov 2015, 11:04 AM Agree 0
    I completely understand what you're saying John, however, I'm not nearly as optimistic. You only need to get 50% in most ANZIIF exams to pass, and I can't see that changing dramatically.
  • Val Phinn | 24 Nov 2015, 11:33 AM Agree 0
    I'm sorry to hear you have had a bad experience and I sincerely hope it wasn't through us. The education committee we have formed is focusing on trying to establish a more rigorous framework particularly in respect to technical aspects of insurance. At the moment my view is, it is far too process based. As an RTO even though we can amend the content, we still have to stick to the criteria this is a requirement of the national standards. Changing the training package will force RTOs to follow those guidelines subsequently improving the overall delivery and standard of education to brokers. This is why it's so important we do have some industry support. Unfortunately I have no confidence in this changing in the future unless we do something and industry provides us with some support as well.
  • Lulu | 24 Nov 2015, 12:18 PM Agree 0
    I agree with your comment old duck on the very low pass mark required by ANZIIF. I have found the ANZIIF courses to be very poor quality and avoid sending staff to them. I am fortunate to work at a company large enough to design our own training and we have reaped the rewards in doing so.
  • old duck | 24 Nov 2015, 03:00 PM Agree 0
    Just on the 'competition' front - if we should aim to only have one training provider, then how about we only have one broking organisation? Line up to sell your business to AON! Or, how about only having one insurer in the country? That would make life easy!
  • Concerned broker | 24 Nov 2015, 05:10 PM Agree 0
    I fully agree with Val, Lulu & old duck. An online course with a pass mark of around 50% is appalling and being a 'qualified' broker will eventually mean nothing!
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