CIP FAQs

CIPs are ANZIIF qualified members (i.e. Fellow, Senior Associate or Associate) who maintain their technical skills and knowledge through an annual program of professional development and abide by the ANZIIF Code of Ethics and Standards of Professional Conduct.

Definitions

Professional development (PD)

PD is the process of keeping professional skills and knowledge up-to-date through either formal or informal activities. ANZIIF recognises all types of PD delivered by all quality training providers, including training provided by companies in-house.

The Australian Qualifications Framework (AQF)

The AQF is a unified system of national qualifications in schools, vocational education and training (TAFEs and private providers) and the higher education sector (mainly universities).

Recognition of Prior Learning (RPL)

RPL is the process of providing credit for previously completed qualifications, work experience and life experience. Prior learning is evaluated and compared with the requirements of the ANZIIF course modules to determine credit(s) granted.

ANZIIF Qualified Member

An ANZIIF qualified member has successfully completed an ANZIIF qualification, or recognised equivalent, and been elected to one of the following membership levels: Fellow, Senior Associate, Associate or Affiliate.

CIP and ASIC RG 146

ANZIIF members who meet the CIP requirements and include training in regulation, compliance and disclosure, will in most circumstances have also met the ongoing training requirements of ASIC RG 146.

It’s a necessary requirement of both ASIC and ANZIIF that members be able to produce documentary.

How do I maintain my CIP status?

To maintain CIP status, you must undertake a PD program to accumulate a minimum of 25 CIP points annually, (or pro rata points for your first year if you elect to membership part way through the calendar year). Of these 25 points, 15 must be technical learning relating to insurance and finance. View the CIP Points Allocation Table to find out more about how you can earn points.

As a qualified member do I need to register as a CIP each year?

CIP is an integral part of membership, therefore you are not required to re-register as a CIP every year. By renewing your ANZIIF membership you are automatically agreeing to participate in the CIP program.

Can I earn CIP points for activities I am paid for?

ANZIIF views PD as any activity outside the parameters of paid employment. CIP points are not applicable if being paid for the service.

Can I earn CIP points for product training?

ANZIIF recognises that product training, while ‘part of the job’ for many insurance professionals, can also be a legitimate PD activity and is therefore considered applicable for CIP points.

Can I earn CIP points for voluntary services to the industry and community?

ANZIIF’s CIP program recognises that voluntary service to the industry and community is an important part of being a professional and provides valuable opportunities for experiential learning.

Can I earn CIP points from activities conducted ‘in-house’?

PD activities undertaken 'in-house' are eligible for CIP points, provided the training adds value to how you undertake your job rather than being part of your day-to-day work activities.

Can PD activities I complete for another professional organisation or company count towards CIP?

You’re able to claim CIP points for any PD activities you participate in during each calendar year, even if you also claim them against other similar professional programs. Please note that the CIP program may differ from other programs in the way it calculates PD activities and you must ensure that you meet the CIP program requirements. To find out more contact the Customer Service team.

Do I need to keep a record of the PD activities I participate in?

You need to maintain accurate records of all PD activities you undertake, along with a corresponding CIP points tally, to verify that you comply with the CIP requirements. These should be kept for at least 12 months after the year in which the activity occurred.

How do I offer CIP Accreditation through a non-ANZIIF event?

To seek CIP accreditation, please complete the CIP accreditation form and return to Customer Service [email protected]

How is my CIP status acknowledged?

You will be able to use the CIP digital badge in addition to your normal membership post-nominal, i.e. ANZIIF (Snr Assoc) CIP.

The CIP post-nominal is a public declaration that you have specialist skills and knowledge in your chosen field of insurance/finance and that you are committed to continuing to improve your knowledge and professional standards.

I am a qualified member and CIP but I don’t work in the insurance or finance industry. Do I still need to comply with CIP?

All qualified members here at ANZIIF are required to meet the CIP criteria and undertake 25 CIP points of annual professional development (PD) in order to maintain a qualified membership status. Of these 25 points, 15 must be technical learning relating to insurance and finance.

If I choose not to participate in the CIP program can I still remain an ANZIIF member?

If you are a qualified member and decline to participate in the CIP program your membership will revert to a non-qualified level.

If I commenced my ANZIIF membership mid-year or later do I still need to complete the required PD program of 25 CIP points?

Pro-rata points for your first year will apply if you take out membership part way through the calendar year. For example, if you elect as a qualified member mid-year you will be required to complete a PD program to accumulate a minimum of 12 CIP points. Likewise if you elect as a qualified member in September you will be required to complete a minimum of 6 CIP points.

What type of documents do I need to keep?

Evidence such as receipts, enrolment records, transcripts, employer reports, certificates, attendance lists, assessment statements, statutory declarations or detailed diary notes are ideal forms of documentation. These should be kept for at least 12 months after the year in which the activity occurred.

I’ve earned my qualification, why do I have to participate in a CIP program to retain my membership status?

Your education qualification can never be taken away from you, however CIP recognises ongoing PD that you undertake and your commitment to the profession. Find out more about PD and CIP points.