Insurance Core CPD for Financial Professionals
Since 2018, the UK has fully implemented the rules and guidelines set out by the Financial Conduct Authority (FCA) in relation to the Insurance Distribution Directive (IDD). Within these guidelines is an expectation that anyone involved in insurance activities complete a minimum of 15 hours Continuing Professional Development (CPD).
The new Insurance Core CPD for Financial Professionals is an introductory course that has been authored by experts to support members with a foundation for their CPD compliance learning. It provides up to 5.5 hours of CPD as a basis for members to continue their learning in development areas that are important to them and their area of expertise.
You can expect to see digital course with interactive elements as well as knowledge check quizzes as an opportunity to apply your learning.
Who is this course for?
This course is designed for Personal Finance Society members who wish to build a foundation for IDD CPD by:
- getting started with some foundation learning in relation to the IDD requirements;
- understand what further learning they will need to complete to remain compliant; and
- identify what learning they need to complete in relation to there are of expertise.
Learning Objectives
By the end of this course, you will be able to:
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Recall the including terms and conditions and net premiums and, where applicable, guaranteed and non-guaranteed benefits of insurance-based investment products;
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Explain the advantages and disadvantages of different investment options for policyholders;
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Recall financial risks borne by policyholders;
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List the policies covering life risks and other savings products;
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Outline the organisation and benefits guaranteed by the pension system;
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Recall the applicable laws governing the distribution of insurance products;
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Explain the insurance market and the saving products market;
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Understand effective complaints handling;
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Assess customer needs accurately and confidently;
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Describe conflict of interest management;
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Recall business ethics standards; and
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Describe minimum necessary financial competence.
Learning Modules
The learning is divided into four topics: Insurance Products, Supporting Customers, the Insurance Market and Legal System and, Business Ethics and Conflicts of Interest. Within these topics, there are 14 modules covering topics such as:
- Financial competence, insurance & savings products market and the pensions system.
- Laws governing the distribution of insurance products.
- Business ethics standards and conflicts of interest.
- Assessing customer needs, suitability, establishing the client’s risk profile and explaining risk.
- Effective complaints handling.
- Life assurance and investment-based schemes
- Life insurance and pensions-based policies.
Study
- Up to 5.5 hours study time*
- 12-month enrolment on the course
- Online course delivered on RevisionMate using e-learning modules – you will receive an email with details of how to access the course materials following purchase.
Assessment
Knowledge check assessments for each module (each assessment must be passed to be eligible for the completion certificate).
Completion Certificate
On successful completion of the course content and the assessments, you will be able to download a completion certificate.
CPD accreditation
The Insurance Core CPD for Financial Professionals course meets the Chartered Insurance Institute and membership requirements for up to 5.5 hours of CPD.
Price
£0 for members or £85 for non-members.
* This course is intended to provide a foundation for IDD CPD. It is not designed to complete the requirements of IDD and therefore members will need to identify areas for further learning to complete their IDD CPD record.
Note: the course will be updated in April each year, so if you have completed this course previously you will be able to enrol on the latest version from the following April.
