Sunday, January 11, 2015

Hong Kong Federation of Insurers (HKFI) launches Young Insurance Executive Development Programme

The Hong Kong Federation of Insurers (HKFI) has launched the Young Insurance Executive Development Programme (YIE) in association with the Institute of Professional Education And Knowledge (PEAK) of Vocational Training Council (VTC). 

Targeting university graduates or diploma holders with at least one year working experience, the Programme combines practical on-the-job-training with academic qualifications.

Trainees will work with insurance companies 4 days a week and spend 1 day on part time learning for a minimum of one year. Upon successful completion of the course, they will receive “Professional Diploma in Insurance”. The tuition fee will be fully sponsored by their respective employers and trainees will also receive a monthly salary.

More than 20 life and general insurance companies have joined the Programme and offered different positions for interested candidates to apply for, ranging from actuary, claims, underwriting, policy administration, customer service, etc.



Mr P L Chan, Chairman of the Task Force on Young Insurance Executive Development Programme under HKFI, said "Insurance is highly professional and the demand for practitioners with technical savvy is extremely high. We believe that the YIE Programme will help groom talents and attract new blood to support the rapid and robust growth of our industry.”

The first intake will commence in March 2015. Deadline for application will be 16 January 2015. An information session will be held on 9 January at VTC. Interested parties please contact Ms M Y Ng at 2919 1515 or email at myng@vtc.edu.hk.

For more information about the Programme, please visit http://www.hkfi.org.hk/YIE/. 


About YIE
Mode of Traineeship
4-day job placement per week and 1 day part-time study per week (10 weeks per trimester) for a minimum of 1-year period

Training Requirements
8 modules (of 30 lecture hours each) spread over a minimum of one year (if taking optional extra evening modules; or completion in 15 months if taking only day-time modules) with the core module of
* and at least one legal module of #

Common Modules
 Insurance Principle and Practice*
 Insurance Organization Operations
 Insurance Underwriting and Claims

and

General Insurance (GI) Modules
 Legal Aspect of General Insurance# (or Legal Framework for Insurance
Contract#)
 Property Insurance
 Motor Insurance
 Liability Insurance
 Marine and Aviation Insurance

or

Life Insurance (LI) Modules
 Legal Aspect of Life Insurance# (or Legal Framework for Insurance Contract#)
 Life and Health Insurance
 Life Insurance Underwriting and Claims
 Financial Planning / Personal Investment
and Financial Services
 Business Financial Planning

Note: Trainees should consult their respective employer before enrolling in any of the above GI/LI modules

Assessment
Consists of 30% Continuous Assessment & 70% Examination

Award
Candidates successfully completed the Programme will receive "Professional Diploma in Insurance” (PDI) awarded by PEAK, VTC. They will be eligible to apply for the professional membership level of the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) and the Chartered Insurance Institute (CII).

Benefits
Full amount of tuition fee (HK$3,600 X 8 modules = HK$28,800) will be borne by the employer.

Qualified candidate will receive a monthly salary and be entitled to full time staff benefits, i.e., annual leave, employee’s compensation insurance, etc.

Scholarship
The HKFI Educational Trust will donate no more than three scholarships at HK$10,000 each to candidates with outstanding academic and work performance.

Who Should Apply
Bachelor degree holder or Diploma holder with more than 1 year working experience

Application and Selection Process
Interested applicants should send the Application Form and materials to VTC on/before 16 January 2015. Shortlisted applicants will be interviewed by suitable insurance company(ies). Employment contract will be issued to successful applicants upon confirmation. 

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