Media release

ANZIIF approved to deliver Level 5 equivalent compliance training for New Zealand

General Insurance Advisers

New Zealand General Insurance Brokers can rely on the ‘ANZIIF New Zealand Compliance for Advisers (General Insurance Broking)’ and associated pathways, to demonstrate the standards of competence, knowledge and skill prescribed in the Code of Professional Conduct for Financial Advice Services which comes into effect from 15 March 2021.

The FMA has engaged New Zealand Industry Training Organisation, ‘Skills Organisation’ to undertake an equivalency assessment of ANZIIF‘s proposed compliance certification for General Insurance Brokers, confirming alignment to the necessary outcomes of the New Zealand Certificate in Financial Services (Level 5) Version 2.

‘We are extremely pleased to be able to deliver on our promise to New Zealand General Insurance Brokers and our members by providing a compliance solution equivalent to the Level 5 minimum standard,’ says Prue Willsford, ANZIIF CEO. ‘As the insurance industry's oldest and most recognised non-profit provider of insurance education, training and professional development, we are committed to supporting New Zealand General Insurance Brokers by delivering high quality, relevant learning that meet Code outcomes for General Insurance Brokers. ‘I welcome alternative pathways being developed by the market for brokers to meet the competency requirements under the new Code,’ says Jo Mason, NZ Brokers CEO. Willsford also expanded on ANZIIF’s tailored compliance pathways for New Zealand General Insurance Brokers, allowing the flexibility to choose their preferred option based on the level of their professional experience. ‘We believe it’s important to recognise and appreciate current competency and the level of professional experience, which is why Recognition of Prior Learning will be an available – and popular - option for New Zealand General Insurance Brokers, limiting formal studies to just the new components required under the code which is covered in a specially tailored, bridging unit.’ The ANZIIF Learning pathways include an option for skilled brokers to receive accreditation based on demonstrated capability (known as RPL Recognition of Prior Learning (RPL). ‘ANZIIF is the only educator actively advocating RPL in the NZ market for this Certification. ANZIIF has been providing RPL to experienced industry professionals for over 25 years and is extremely experienced in assessing current competence based on experience.’ ‘ANZIIF’s New Zealand Compliance for Advisers provides skilled brokers with an alternative to “back to the classroom” style learning, where you can instead have your knowledge as an experienced

insurance professional recognised, says Allan Reynolds, Steadfast Executive General Manager Asia NZ and Direct.’ ‘ANZIIF’s approved New Zealand Compliance for Advisers will bring great value to the General Insurance industry in New Zealand, says John Lyon, Ando Insurance CEO.’ ‘There are many experienced and skilled General Insurance Brokers that have undertaken professional studies with ANZIIF or have proven experience in the field and deserve to have their competencies recognised,’ Lyon added. ‘Our industry prides itself on delivering great outcomes and experiences for New Zealanders, and I believe ANZIIF’s continued investment in the market will contribute to building professionalism, trustworthiness and integrity in the New Zealand insurance industry.’ ‘Knowledge is key, and our mantra is to support our industry through education and professional

development,’ Willsford added. We are proud of our history of supporting brokers in New Zealand - from our world-class professional development activities, to our distinguished and internationally recognized qualifications that confirm broking as a profession, beyond the minimum level of compliance.’ ‘I encourage all New Zealand General Insurance Advisers to register for ANZIIF’s free webinar for more information about the new code and ANZIIF’s unique offerings.’ New Zealand General Insurance Advisers can learn more about ANZIIF’s compliance solution at ANZIIF’s New Zealand Compliance for Advisers virtual Webinar on August 18.

New Zealand Compliance for Advisers (General Insurance Broking)

Media Contact: Ari Charilaou | Corporate Communications Coordinator | ANZIIF

E: acharilaou@anziif.com

ABOUT ANZIIF

The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) is the leading membership body and provider of education, training and professional development services to the insurance industry in Australia, New Zealand and the Asia-Pacific region.

Established in 1884, ANZIIF has more than 17,000 members in over 50 countries. With offices in Australia, New Zealand and China, ANZIIF works to promote and support lifelong learning through education, thought leadership, professional development events and ANZIIF’s publication, The Journal.

Through our activities, we aim to help members achieve their career and corporate aspirations and to contribute to the success of the insurance and financial services industries.

Visit anziif.com for more information