Class of Business Training

“There are limitless opportunities for a rewarding career in the short term insurance industry, and it can start right here at BRC.” Nkosana Sibanda, Facilitator, BRC

NOW AVAILABLE ONLINE

What is the course about?

If you are going to being working for a Financial Service Provider (FSP) as a Key Individual (KI) or Representative, then you need to understand both the general and specific characteristics of the full range of financial products the FSP offers its clients. The knowledge gained in this course will help you match the clients with the correct products. If you are already working in the industry and need training on any new FSP product that has come on the market since 1 April 2018 then this course will bring you up to speed.

Who should attend this course?

All KIs and reps working in the Financial Services industry. This training is essential before you can give advice to clients or provide an intermediary service to them.

  • If you were appointed after 1 April 2018 and are an FSP, Key Individual or Representative, then you need to attend this course.
  • If you are an FSP, Key Individual or Representative who is seeking authorisation, approval or appointment for new financial product categories that come out after 1 April 2018, then you need to attend this course.
  • If you are a Representative working under supervisionas at 1 April 2018, or were appointed under supervision after 1 April 2018, then you need to attend this course.

Why do it?

If you work for an FSP keeping up-to-date on the latest products is a necessary requirement. Every FSP is legally required to have a Competence Register which is a complete record of all the qualifications, regulatory exams, class of business and product specific training, both internally and externally sourced, as well as the CPD which the KIs and Reps have completed.

What will you learn from this qualification?

Each Class of Business product has specific detail that the KIs and Reps must be clear about in order to best advise clients. For example:

  •  The product’s specific characteristics, terms and features
  •  The product’s underlying features, fee structure, other costs associated with the product as well as how all of these will affect the client
  • The product’s guarantees and risks
  • How tax will affect benefits and real returns
  • How the product’s performance may be impacted by any abnormal conditions that may occur in the market.
  • The product’s ‘lock-in’ period
  • The product supplier’s identity as well as that of any providers of components, their good standing and regulatory status.

Short Term Insurance: Personal Lines Subclasses:

  • Personal Lines: Accident and health policy
  • Personal Lines: Liability policy
  • Personal Lines: Miscellaneous policy
  • Personal Lines: Motor policy
  • Personal Lines: Property policy
  • Personal Lines: Transportation policy
  • Personal Lines: Short Term Reinsurance policy

Short Term Insurance: Commercial Lines Subclasses:

  • Commercial Lines: Accident and health policy
  • Commercial Lines: Engineering policy
  • Commercial Lines: Guarantee policy
  • Commercial Lines: Liability policy
  • Commercial Lines: Miscellaneous policy
  • Commercial Lines: Motor policy
  • Commercial Lines: Property policy
  • Commercial Lines: Transportation policy
  • Commercial Lines: Short term Reinsurance policy

Once qualified you can:

  • Gain access into the financial services industry.
  • Provide a product specific related financial service
  • Manage or oversee a product specific related financial service

What we offer:

  • Short Term Insurance: Personal Lines
    • Facilitated Sessions
    • On-Line Sessions (coming soon)
  • Short Term Insurance: Commercial Lines
    • Facilitated Sessions
    • On-Line Sessions 
For information about this course such as admission requirements, fees and more please contact us