New ANZIIF course aims to elevate risk management skills

New ANZIIF course aims to elevate risk management skills | Insurance Business Australia

Insurance News

New ANZIIF course aims to elevate risk management skills

CEO highlights essential skills that could significantly impact the industry

Insurance News

By
Jonalyn Cueto

The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) has introduced a new Insurance Risk Management Study Course, aimed at enhancing the skills of mid-senior level brokers and insurance professionals.

This two-day facilitated course is designed to provide participants with practical skills in risk assessment and management. The curriculum focuses on identifying and analysing various types of risks, developing effective management strategies, and communicating findings to stakeholders.

Upon completion, attendees are expected to gain a deeper understanding of risk assessment principles, which will enable them to better evaluate their clients’ risk profiles and offer more tailored advice. The course is intended to help insurance professionals improve their service quality and support their clients in building financial health and resilience.

ANZIIF CEO Katrina Shanks emphasised the importance of the course in enhancing industry standards. “Our goal is to provide first-class education to insurance professionals, empowering them to offer quality advice and services, and therefore build the public’s confidence and trust in the industry,” Shanks said.

Rising risks in the industry

A report from Clyde & Co., released in June, highlighted that businesses are facing growing economic, geopolitical, and AI-driven risks. The Corporate Risk Radar report revealed the top concerns for 82% of executives, including economic challenges, particularly inflation, interest rates, and currency volatility. Geopolitical risks have surged, partly due to ongoing conflicts and election uncertainties, affecting global supply chains.

Another element highlighted in the report was AI’s rapid advancement, which introduces both opportunities and significant operational challenges, with a notable increase in market disruption risks. Companies face difficulties balancing AI’s potential with governance and regulatory uncertainties.

The report also noted that 67% of leaders find the risk environment far more complex than in recent years, impacting decision-making and costing companies about 5% of revenues. In response, businesses are adopting proactive risk management strategies and leveraging governance, risk management, and compliance (GRC) technologies to navigate these challenges.

What are your thoughts on the new course? Let us know in the comments below.