What is chartered insurance professional (CIP)’
Chartered insurance professional (CIP) is the designation of the insurance Institute of Canada grants to agents and other professionals in the real estate and insurance against accidents. This certification recognizes the expertise, knowledge and ethical standards. The Institute established this designation as a way for agents to demonstrate the professional reputation of both employers and clients.
Breaking down the ‘chartered insurance professional (CIP)’
The applicant must meet several requirements to earn the designation as a certified insurance professional (CIP). In many traditional and online schools offer courses to help people gain the knowledge and experience to work as agents, underwriters and taxation. The curriculum for the CIP certification program includes both mandatory and elective courses. Applicants must:
- Exams for the 10, specially designed courses
- Have at least one year of full-time experience in the insurance and financial services
- Agree to the code of ethics of the Institute
- To maintain membership in a local insurance institutes of Canada
The organizing Committee of conference of Canada, a not-for-profit research organization, surveyed in industry and reported that the majority of professionals who enter the property and casualty insurance business only a limited understanding of the specific problems of the industry in General post-secondary education. The survey showed that 80% of employers in the industry generally believe graduates of insurance as more successful in establishing trust with their customers.
Requirements for obtaining chartered insurance professional
There are five compulsory courses covering the General principles and insurance practices, and more specific types of insurance, including property, liability and automobile insurance.
Then students choose one of three special tracks for courses based on industry specialization. These tracks focus on different career paths, including work as an agent, the requirements of the professional or the insurer. Each track includes three compulsory courses specific to that track.
The last two courses, electives selection, including both General topics and a variety of dishes, including reinsurance, guarantees, and special hazards.
If the candidate meets the academic requirements and gain one year of experience in insurance or financial services companies, they are eligible to apply to be certified as a chartered insurance professional. Institute with honors to successful applicants at the ceremony, which is held in may and October of each year.
The Institute also offers additional chartered insurance professional certification, which requires successful completion of four additional courses. Another level of certification, fellow chartered insurance professional designation, requires six courses and was created to recognize, insurance company executives, their knowledge about management strategies and leadership.