The primary purpose of the Higher Certificate in Short-Term Insurance is to equip students with the knowledge and skills required by short-term insurance specialists operating within the South African insurance environment. Students will be competent and able to provide short-term insurance advice across the fields of personal and commercial insurance.
The programme is suitable for:
- persons who have already achieved an NQF Level 4 qualification in Short-term Insurance and who want to further their studies in short-term insurance.
- persons working in the financial services industry wishing to enhance, develop or formalise their skills and knowledge with a qualification in this area.
- persons wanting to enter the short-term insurance industry.
- persons requiring a full qualification for FAIS purposes.
The Higher Certificate in Short-Term Insurance appears on the Financial Services Board’s (FSB) list of recognised qualifications for FAIS Fit and Proper purposes. In terms of this rating, the qualification is considered to be a relevant qualification in respect of the product categories indicated as a generic (G) below, while rated as specific (S) or (SP) in Category I in the sub-categories listed below. This means that:
- persons who were appointed in a FAIS role prior to 1/1/2010 and who have completed this qualification may receive exemptions for the second level Regulatory Examinations for the categories where it has been awarded (S) and (SP).
- persons who were appointed in a FAIS role after 1/1/2010 and who have completed this qualification may receive exemption for second level Regulatory Examination for the categories where it has been awarded (SP).
- Apply knowledge of legislation, compliance and ethics in a short-term insurance context in South Africa.
- Examine the nature of the short-term insurance environment in South Africa in terms of structure, role-players, regulation and consumer needs.
- Apply knowledge of legislation, risk management principles, reinsurance practices and underwriting principles to propose a short-term insurance solution to a client.
- Apply the principles of a client relationship management in a compliant manner in the context of short-term insurance
Formative assessment contributes 30% to the final mark and consists of a combination of assignments and tests. The exact formative structure per module will be communicated to you at the start of the semester.
Students will write a final, summative assessment per module at the end of each semester, which contributes 70% towards the final mark. Students need to obtain a sub-minimum mark of 40% in the final, summative assessment and an overall mark of 50% in order to pass the module.
Distance-learning students have a minimum of one year and a maximum of five years to complete this qualification.
On successful completion of the qualification, the student will receive a Higher Certificate, NQF Level 5 (credits: 120). The Higher Certificate in Short-Term Insurance is accredited by the Higher Education Quality Committee of the Council for Higher Education (CHE).