The purpose of the National Certificate: Short Term Insurance: Level 5 is to build the knowledge and skills required by senior employees in Short Term Insurance who have achieved the Qualification requirements for the Fit and Proper Determination for Short Term Insurance and are ready to study at Level 5. It is intended to empower learners to acquire knowledge, skills, attitudes and values required to operate ethically and responsibly in the highly regulated Financial Services environment and to respond to the challenges posed by the changing nature of the Financial Services Industry. It should add value to the qualifying learner in terms of enrichment of the person, status, and recognition both in South Africa and Internationally.
As a Qualification in Short Term Insurance, it provides a framework for learners to develop competencies related to Short Term Insurance (which includes Personal, Commercial and Corporate lines), with a specific focus on very large and complex Corporate and Commercial accounts. It provides a balanced learning experience and an opportunity for learners to apply academic skills in relation to the workplace. The Qualification is structured in such a way that it exposes learners to generic competencies required in the Financial Services Sector at Level 5 and allows for specialisation in aspects of risk transfer and risk financing to meet specific high risk needs.
The National Certificate: Short Term Insurance: NQF Level 5 is a specialist Qualification that requires the application of technical knowledge of Risk Management and Short Term insurance to complex Corporate and/or Commercial risks. Learners at this level are required to analyse, interpret, think out of the box and adapt to change within the highly competitive and regulated insurance market.
The Qualification is intended for people in senior positions and management roles in the Short Term Insurance Industry (Personal, Commercial and Corporate lines) including, but not limited to, Intermediaries Senior/experienced Underwriters, Senior/experienced Claims Administrators, Loss Adjusters, Auditors who specialise in Short Term insurance and Compliance Practitioners.
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A comprehensive overview of this qualification can be found on the SAQA website.