School of Financial Planning & Insurance

Advanced Certificate in Short-term Insurance

The Advanced Certificate in Short-term Insurance is ideal for career-orientated individuals within the short-term insurance industry who want to complete a qualification that provides an in-depth understanding of insurance practices in terms of technical subject matter and application skills.

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NQF Level

6

SAQA

97779

Minimum Credits

120

DESCRIPTION AND PROGRAMME PURPOSE

The Advanced Certificate in Short-term Insurance programme is aimed at insurance staff working across all sectors of the industry and is a logical progression from Milpark’s Higher Certificate in Short-term Insurance. The programme provides an in-depth understanding of insurance practices in terms of technical subject matter and application skills.

This qualification will allow students to apply for professional membership to the Insurance Institute of South Africa (IISA) for the designation of Associate of the Insurance Institute of South Africa, provided that all other requirements are met. Application forms and the requirements for membership are available on the IISA’s website (www.iisa.co.za).

This qualification will also allow students to apply for Recognition of Prior learning with the international Charter Insurance Institute (CII), for the CII Diploma which includes the designation Dip CII, by completing two additional modules with the CII.

WHO SHOULD ENROL

The programme would be suitable for:

  • An employed person who wants to enhance his knowledge of specialist short-term insurance products and who has completed a relevant (Short-term insurance) NQF level 5 qualification
  • A person employed in a managerial position in the Short-term insurance industry
  • A person in the insurance industry operating in the underwriting and claims department of an insurer
  • A person wanting to apply for the designation of Associate (AIISA) to be awarded by the IISA.
  • A person wanting to apply for the designation of Dip CII to be awarded by the CII.

PROGRAMME OUTCOMES

Successful completion of this qualification should enable the student to:

  1. Assess potential legal liability for a situation and recommend a suitable insurance product to address the need.
  2. Apply knowledge of legislation, compliance and ethics in a short-term insurance context in South Africa.
  3. Demonstrate an in-depth understanding of the identification and management of risk within the context of short-term insurance.
  4. Demonstrate insight into the business environment as it impacts on short-term insurance.
  5. Demonstrate insight into the purpose and structure of short-term insurance products as well as the underwriting and claims processes involved.

PROGRAMME STRUCTURE

The qualification consists of four compulsory and two elective modules with a total number of six modules, as follows:

Module Name Offered in C/E Credits
Short-term Insurance Environment   Both semesters Compulsory 25
Risk Management 2  Both semesters Compulsory 20
Liability Insurance   Both semesters Compulsory 25
Commercial Property and Business Interruption Insurance Both semesters Compulsory 20
Motor Insurance   Semester 1 Elective –
select two
15
Reinsurance  Semester 2 15
Management and Leadership* OR  Both semesters 20
Marketing Management Practice* Both semesters 20
Total     120

*When deciding on electives, it is important to note that students cannot complete both Management and Leadership and Marketing Management Practice as electives for graduation purposes. Please see Rules of Progression for more information.

 

The minimum admission requirement is a Higher Certificate in Short-term Insurance (NQF 5) or an equivalent qualification in short-term insurance on NQF level 5 worth 120 credits or more. The equivalent qualification needs to be in the field of short-term insurance.

Other certificates

Any applicant who has a certificate other than a South African National Senior Certificate has to provide:

  • a SAQA Certificate of Equivalence, if they want to enrol for a Higher Certificate, Advanced Certificate, Diploma or Postgraduate qualification (www.saqa.org.za)
  • or a USAF Exemption Certificate, if they want to enrol for a Bachelor’s degree (https://mb.usaf.ac.za/).

Recognition of Prior Learning (RPL) applications

Milpark admits a small number of students onto its programme via Recognition of Prior Learning (RPL). Applicants interested in applying via RPL will be considered individually by the relevant Head of School.

Semester 1
Admissions Close: 4 February 2022
Registrations Close: 18 February 2022

 

Semester 2
Admissions Close: 1 July 2022
Registrations Close: 15 July 2022

 

 

What's next after this?

Now that you've completed your Advanced Certificate, why not continue on your learning journey with us and apply for your BCom degree majoring in Short-term Insurance or one of our other BCom majors??