The CIP: Celebrating Achievement

Fall Convocation is one of my favourite times of the year.

Soon I will be attending the graduation ceremonies of local Insurance Institutes across the country, congratulating many of the 1,000 people each year who receive their Chartered Insurance Professional (CIP) or Fellow Chartered Insurance Professional (FCIP) designations.

Convocation is a unique occasion when the Canadian property and casualty insurance industry unites to recognize and appreciate the hard work and dedication required to excel in the business.
I always feel a sense of pride shaking the hands of CIPs and FCIPs who have shown such hard work and dedication to their careers in the p&c industry. For our new graduates, it’s always a special moment to hear the applause of friends, work colleagues and senior industry representatives recognizing their educational achievement.

After the grad ceremonies are over, insurance organizations meet informally to honour the perseverance, effort and knowledge of their grads. These organizations know, just like I do, that CIPs and FCIPs hold the key to moving their businesses forward in meeting the demands of Canadian insurance consumers. How do we know this?

The p&c industry confirmed the value of a CIP in a recent report by the Conference Board of Canada.

The Conference Board is an independent, not-for-profit organization specializing in business, education, economic and human resources research. As part of its report on the CIP designation, it surveyed more than 1,000 p&c insurance industry employer representatives and employees.

Insurance organizations like to see their employees with CIPs and FCIPs. They told the Conference Board that their CIPs are more competent and provide better service to consumers than employees without the designation.

Not surprisingly, employers overwhelmingly provide support to their employees who choose to pursue a CIP education. Nine out of 10 industry organizations provide financial support for employees taking the CIP program, the Conference Board found. And a vast majority (74%) will provide time off work for study and exams.

Employees also see the value of a CIP. Eight out of 10 employees tell us that the CIP designation opens new doors for them within the p&c industry. They also see better pay.

This is because CIPs have received a specialized education in the p&c insurance industry, which has unique features that you will not cover in a more generalized post-secondary business education.

It is gratifying to see the Conference Board announce to the Canadian public what we in the p&c industry have known for many decades: the CIP designation has a direct impact on the skills and education of the p&c work force, leading to business and career prosperity, as well as quality and trusted service to Canadians needing insurance.