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Unisa Short Learning Programmes
IISA Programme in Advanced Insurance Practice (76481)

Purpose

To provide an enhanced understanding of insurance practice, both in terms of technical subject matter and overall management 

skills, often irrespective of the role of the person. These programmes represent an advanced qualification for insurance staff working across all sectors of the insurance industry, planning to ultimately gain a professional qualification. 

 

This programme was specifically developed by the Insurance Institute of South Africa (IISA) to serve the advanced educational 

needs of the insurance industry in South Africa and to provide the insurance industry with a higher education qualification, to 

satisfy both educational and regulatory needs. 

 

The programme provides for development in two spheres, firstly in the business of insurance, through the two compulsory 

subjects, and then in the processes and practices of insurance at an advanced technical level in the specific subfield through the 

elective subjects. In the case of the latter, both the formative (assignments) and summative (examinations) assessments test 

students’ ability to apply the knowledge and skills by requiring them to solve problems, and analyse and make recommendations using a factual case study as part of the testing. 

 

This programme is the first part of a specific learning programme for the advanced insurance market. As such, learners who 

have completed this short learning programme will continue with a further NQF Level 6 programme in advanced insurance 

practice, in order to complete their insurance studies. Upon completion of the second part of this specific learning programme, students will academically qualify for election to Associateship of the Insurance Institute of South Africa and the accompanying professional designation, subject to the by-laws from time to time. 


Target group

Typically, students will either be employed by insurance companies, insurance brokers, loss adjusters or retirement funds. 

 

Successfully completing the programme improves students’ employability, because they can then become professional 

insurance practitioners with a good understanding of the insurance business, and an appreciation of the entire insurance 

market, as well as some specialised insurance practice fields, insurance broking and reinsurance, and risk management. 

 

In addition, all intermediaries in the insurance industry who offer “advice” on products need to be in possession of suitable 

academic qualifications and this SLP is in line with part of the advanced requirements. 


Admission requirements

IISA Introductory Programme in Advanced Insurance Practice (7649X) to be completed prior to attempting qualification IISA Programme in Advanced Insurance Practice (76481) 

 

 

 


Duration

One year 


Language medium

English 


Registration periods

First semester: 29 November 2013 to 24 January 2014. 

Second semester: 2 June to 11 July. 


Tuition method

Adult learning principles, outcome based facilitation, distance education through study guides and learning material and support programmes 


Kind of assessment

Note: 

Formative assessment and examination admission will comply with UNISA’s formative assessment rules and policies 

Formative assessment: 

Two assignments must be submitted and will count towards the final mark. The assignments count 10% towards the final mark, while the examination counts 90%. If you are unsuccessful in the examination, you will need a minimum of 40% to be awarded a supplementary (rewrite) examination. 

Summative assessment: 

A formal 2-hour examination question paper will be set for each module. Candidates must obtain at least 50% per module to pass. A mark of 75% will constitute a distinction. Supplementary (second opportunity) examinations will be written in the following semester when the particular module is offered and carry an additional examination fee. 


Risk and Insurance (Compulsory) (PAIP01G)
HEQF Level of Module - NQF Level 6
Credits of Module - 12
Syllabus/Content Topics
  • Broad Concepts of Insurance 
  • Risk/Insurance Classes 
  • Specific Insurance Applications 
  • Risk Financing, Captives 
  • Alternative Risk Transfer 

 


Principles of Short Term Insurance (Elective) (PAIP02H)
HEQF Level of Module - NQF Level 6
Credits of Module - 12
Syllabus/Content Topics
  • The Personal Insurance Policy 
  • Commercial Insurance 
  • Motor Insurance 
  • SASRIA, COID and Miscellaneous covers 

 


Principles in Life Insurance (Elective) (PAIP03J)
HEQF Level of Module - NQF Level 6
Credits of Module - 12
Syllabus/Content Topics
  • Introduction to Underwriting 
  • Policy Servicing 
  • General Overview and Principles of Claims 
  • An Introduction to Retirement Funds 
  • The Use of Insurance in a Business Environment 
  • Estate Planning 

 


Interruption Insurance (Elective) (PAIP04K)
HEQF Level of Module - NQF Level 6
Credits of Module - 12
Syllabus/Content Topics
  • Determining the sum insured 
  • Special forms of insurance 
  • Rating: Deductibles: Interruption reports 
  • Engineering interruption insurance 
  • Claims 

 


Liability Insurance (Elective) (PAIP05L)
HEQF Level of Module - NQF Level 6
Credits of Module - 12
Syllabus/Content Topics
  • The public liability policy 
  • Public liability underwriting 
  • Claims handling 

 


Motor Insurance (Elective) (PAIP06M)
HEQF Level of Module - NQF Level 6
Credits of Module - 12
Syllabus/Content Topics
  • Motor fleets 
  • Motor underwriting and claims prevention 
  • Claims 
  • Motor statistics 

 


Property Insurance Claims (Elective) (PAIP07N)
HEQF Level of Module - NQF Level 6
Credits of Module - 12
Syllabus/Content Topics
  • Claims I - Fire 
  • Claims II – Miscellaneous 
  • Engineering and construction insurance 
  • Contribution and apportionment 
  • Assets all risk 
  • Risk financing 

 


Property Insurance Perils (Elective) (PAIP08P)
HEQF Level of Module - NQF Level 6
Credits of Module - 12
Syllabus/Content Topics
  • Malicious Damage and Arson 
  • The Risk Survey 

 


Life Insurance Practice (Elective) (PAIP09Q)
HEQF Level of Module - NQF Level 6
Credits of Module - 12
Syllabus/Content Topics
  • General overview and principles of claims handling 
  • Dealing with claims 
  • Maturities, surrenders and the payment of claims 

 


Retirement and Related Benefits (Elective) (PAIP10H)
HEQF Level of Module - NQF Level 6
Credits of Module - 12
Syllabus/Content Topics
  • Different types of retirement funds 
  • Other types of retirement funds 
  • The difference between defined benefit and defined contribution schemes 
  • Group life insurance and other ancillary benefits 
  • Retirement fund investments and their management 
  • Marketing in a retirement fund environment 

 


Life Insurance Sales (Elective) (PAIP011J)
HEQF Level of Module - NQF Level 6
Credits of Module - 12
Syllabus/Content Topics
  • Estate planning 
  • Investment and their management 
  • Investments 
  • Business entities 
  • Business insurance 

 


Insurance Broking (Elective) (PAIP12K)
HEQF Level of Module - NQF Level 6
Credits of Module - 12
Syllabus/Content Topics
  • Industry agreements 
  • Financial issues 
  • Operations 
  • Subsidiary business functions 

 


Course leader

Prof J Marx 

Department of Finance and Risk Management and Banking 

Office 05-121, A J H van der Walt Building, UNISA 

Tel: 012 429 4513 

E-mail: marxj@unisa.ac.za / pins@unisa.ac.za 

 


Programme administrator(s)

Tel: 012 352 4228 / 4377 

Fax: 086 639 7433 

E-mail: pins@unisa.ac.za 

Web: www.unisa.ac.za/pins