An associate member (AIISA) is a practicing professional who identifies client's needs through a comprehensive risk analysis process within a specialist insurance environment and develops a risk management plan that will assist the client to mitigate, avoid or manage the identified specialist insurance risks.
The AIISA will then arrange an insurance policy for the agreed risks to be insured. The insurance policy is monitored and reviewed on a regular basis to ensure that any assets or additional insurance risks are addressed and that any external changes that might affect the insurance risks are considered.
Associates can operate in either an intermediary, sales, policy administrative, risk management, underwriting or claims capacity within a specialist insurance environment such as engineering, construction, motor fleet, liability, guarantee, accident or other specialist insurance.
Associates are professional members who have an insurance qualification at NQF Level 6, which has broadened their insurance knowledge to a specialist insurance level. Associates are able to:
- Advise personal and commercial clients on, and arrange specialist insurance cover within the fields of liability, commercial properties, business interruption and reinsurance cover options.
- Advise on alternative insurance structures and a range of specialist or alternative risk solutions.
- Identify specialist risks and make risk management recommendations on mitigation, avoiding or managing specific risks.
- Choose a specific specialist field within which to operate successfully.
- Manage, provide advice on and negotiate specialist insurance claims.
- Facilitate an informed discussion on the workings of an insurance contract and the roles and responsibilities of both the insurer and the insured.
- Understand the boundaries between specialist insurances and general insurance offerings and when an how to deal with these appropriately.
- Ensure the legislative, regulatory and compliance requirements of the financial services industry in providing a safe financial platform for clients.
- Understand the workings of the insurance industry at a micro and macro level, and identify and advise on global issues that will have an impact on the sector.
Associate members are required to have three years’ industry experience and hold a recognised Level 6 insurance qualification, such as:
- Programme in Short-Term Insurance for Associateship.
- Advanced Certificate in Short-Term Insurance or
- BComm with Short-Term Insurance (second year).
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