RISC Insurance Foundation Certificate
Level:Beginner
This programme lays the foundations for that all those who work in the insurance industry should have. It is designed to be used as an induction course for new employees joining the industry as well as those who are employed and need to develop their knowledge and skills.
This qualification can also be customized around national programmes by government employment agencies to support their citizens to find employment in the insurance industry. It is also suitable for employers pursuing workforce localization as an apprenticeship programme.
Who should take this course
- New recruits of insurance companies, brokers and agents.
- Anyone working in the insurance industry intending to pursuse a career in insurance.
- Supervisory and early management staff who wish to fill gaps in foundation knowledge.
- Job seekers and graduates who wish to improve their chances of being employed in the industry.
The programme assumes no previous knowledge of insurance and can be taken by anyone who completed high school and has a good understanding of English. There are several aids within the course including glossaries, and further learning resources that provide terminology, and reinforce or fill gaps in background knowledge as they arise.
The programme consists of twelve components or "building blocks" of learning objectives which holistically provide a broad foundation of knowledge about insurance and insurance operations. All modules must be completed for the certificate of completion to be issued.
- Understand risk and the purpose of insurance in managing risk
- Understand how insurance works
- Know the legal foundations of insurance contracts
- Know the main parties and professionals in the insurance market
- Know the key insurance business operations and processes
- Know the purpose and function of insurance documentation
- Be aware of the commercial insurance classes
- Be aware of the consumer lines insurance products
- Be aware of the marine insurance classes
- Be aware of group risk and employee benefits insurance products
- Be aware of the standards for the conduct of insurance business
- Be aware of insurance company finances and solvency.
This programme is offered in blended learning format. Blended learning provides live structured learning led by a professional subject-matter tutor with discussions, quizzes and case studies. classes are conducted online or face-to-face with a fixed timetable. In addition to the classes, learners get access to a range of elearning activities and resources to be carried out and completed during private study time.
A formative assessment is conducted during the course and grades recorded in each participant’s gradebook. Each particpant is awarded a mark based on the weighted average score of the following
- Attendance and participation during the live classes
- Scoring during the in-class quizzes
- Scoring in assignments
- Online activity completion
The passmark is determined as the median of the marks obtain by the students in the cohort.
This academic qualification is granted by RISC Institute DMCC and certified by KHDA and shall be recognized in the Emirates by all public and private entities for all purposes
It is granted on completion of ten modules, including the assignments and activities. Particpants will be awarded with a printable digital Certificate of Completion.
Successful particpants will also earn a digital badge. RISC's digital badges are a verifiable way to share your accomplishments with others. Digital badges can be shared via social media, email signatures, or digital business cards.
How much time you need to dedicate
The course comprises ninety (90) hours of in-class learning. These are scheduled full time in 6 hour days (face-to-face) or part-time twice or thrice weekly in 3 hour online sessions. In addition, particpants need to dedicate at least an additional forty (40) hours to complete the elearning assignments and activities.