Insurance Education that Matters

Your professional development has never been more cutting-edge.

Consider the fascinating research of Qui Trieu, manager of personal insurance at Perth Insurance, a wholly owned subsidiary of Economical Insurance. Qui (pronounced as ‘key’) is currently a candidate in the Insurance Institute’s Fellow Chartered Insurance Professional (FCIP) program.

Qui is looking for ways to attract Millennials into Canada’s property and casualty insurance industry. Born between 1980 and 2000, Millennials have a reputation for ‘thinking outside the box’ and seeking like-minded, innovative workplaces. Qui says his challenge is to confirm that Millennials have a home in the insurance industry despite being exposed to inaccurate public stereotypes.

“I guess the misguided perception exists that the industry is old, archaic and very boring,” Qui says. “But after having gone through these six online FCIP courses, you can see that the insurance industry is pretty dynamic. It’s as big as you want it to be. It’s as dynamic as you want it to be. And it will give you as much as you want to put into it.”

Relevant Education

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The FCIP is the highest designation in Canada’s p&c insurance industry. Every day, FCIPs like Qui are conducting state-of-the-art research to help their organizations find practical solutions to emerging issues facing today’s insurance industry.

An FCIP education today carries limitless potential to help p&c organizations and clients deal with any conceivable issue.

Right now, the insurance industry is helping Fort McMurray, Alberta residents deal with the devastation wrought by giant wildfires. Our hearts and thoughts go out to those who have been displaced and/or lost everything. This is a tragic catastrophic event, and it brings to mind research conducted two years ago by FCIP grad Greg Crawford.

For his capstone project, Greg researched new ways for the insurance industry to handle large-scale claims events generated by our changing global climate. Greg’s FCIP research offered practical solutions to help ease the minds of clients in times of need.

Innovative Education

Innovation is a hallmark of the program’s final course, Integrative Learning for the P&C Sector, featuring the ‘capstone’ research project. Let’s take a quick look at what FCIPs are researching in aid of their organizations and clients in 2016. Their topics read like daily headlines in the insurance trade press:

• Auto insurance for Uber/Uber’s impact on insurance
• Insurance for driverless vehicles/the impact of driverless vehicles on the p&c industry
• Drone insurance/the impact of drones on insurance industry
• The impact of climate change on insurers and reinsurers
• Cyber insurance, including development for new markets and growth strategies for existing markets
• Commercial lines growth and reputation
• How reinsurers can maintain relevance
• Hypothetical start-up business model in insurance

Again, this is a modest sampling of research projects conducted in just one course. Each of the six FCIP courses includes opportunities to tackle relevant business topics in the areas of strategy, leadership, financial management, enterprise risk management and emerging issues.

Qui Trieu is right: an FCIP education is as diverse, dynamic and creative as the Canadian insurance industry itself. Clients and the industry benefit when FCIPs create practical business solutions that distinguish their p&c organizations.

If you would like to play a role in helping your company deal with real-world issues, consider taking the Institute’s FCIP designation. More information about the FCIP is available at the Insurance Institute’s website.

Are you contemplating if the FCIP is your next move? Hear from FCIP candidates about the program and see if it’s right for you at this time. Register now for 3 Candid Student Stories, a complimentary Insurance Institute webinar held on May 31 at 1 pm eastern time.