IISA - The Insurance Institute of South Africa

Overview 

The implementation of the FAIS Act enacted in 2004 placed a great emphasis on ongoing education and the development of financial planners, impacting also on the short-term insurance industry.  The most popular option available thus far to brokers providing financial services in the short-term insurance environment was a Further Education and Training Certificate in Short-Term Insurance registered on NQF Level 4, with few opportunities to move to the next level.

Milpark Business School has recently had a full, Higher Education qualification accredited: the Higher Certificate in Short-Term Insurance, HEQF level 5.

The purpose of the Higher Certificate is to equip students with the knowledge and skills required by short-term insurance specialists operating within the South African short-term insurance environment. The qualification allows students to apply for professional membership of the Insurance Institute of South Africa (IISA) in the designation category of “Licentiate of the Insurance Institute of South Africa”. Application for recognition of the Higher Certificate in Short Term Insurance for FAIS Fit and Proper purposes will be made to the Financial Services Board in due course to ensure that the qualification is placed on the list of recognized qualifications.

Modules: 

The qualification consists of six modules: four compulsory and two elective modules.

Core Modules (compulsory)

• Legal Framework
• Risk Management
• Personal Lines Insurance
• Commercial Lines Insurance

Elective Modules (Choose two modules from this list)

• Reinsurance
• Marine and Aviation
• Construction and Engineering
• Business Management

A National Senior Certificate or Senior Certificate meeting the requirements of the Milpark Business School points system is needed for admission. Mature age applicants and applicants with non-South African school leaving qualifications will be considered individually.  Limited admission via Recognition of Prior Learning (RPL) admissions are possible for those candidates who have been employed by a financial institution in the insurance or banking sector for a minimum period of one year.

Students are required to submit an assignment on each module and then write a final closed book summative assessment. The minimum duration of the qualification is one year full-time or two years part-time. The maximum duration is three years. On successful completion of the qualification, the graduate will receive the Higher Certificate in Short-term Insurance on NQF Level 5.A National Senior Certificate or Senior Certificate meeting the requirements of the Milpark Business School points system is needed for admission. Mature age applicants and applicants with non-South African school leaving qualifications will be considered individually.  Limited admission via Recognition of Prior Learning (RPL) admissions are possible for those candidates who have been employed by a financial institution in the insurance or banking sector for a minimum period of one year.

Students are required to submit an assignment on each module and then write a final closed book summative assessment. The minimum duration of the qualification is one year full-time or two years part-time. The maximum duration is three years. On successful completion of the qualification, the graduate will receive the Higher Certificate in Short-term Insurance on NQF Level 5.

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Download Enrolment Form (includes Registration Fee information)

IISA Membership

The Milpark Business School's Higher Certificate in Short Term Insurance meets the qualification requirements for Licentiate Membership of the IISA.

Corporate Registrations

Milpark Business School can register candidates in bulk if information is supplied on the Milpark Business School spreadsheet.