Licensing Education / Designations
Get the POWER of an insurance designation
The insurance industry offers many different career paths and opportunities for advancement, especially for Level 2 and Level 3 licensees. There are several ways to undertake the education you need to hold a Level 2 or 3 license. At IBABC, you can take advantage of a mixture of classroom-based and online learning options that give you the flexibility to achieve your goals.
An insurance designation lets your clients know that they have a knowledgeable, committed professional looking after them. It demonstrates that you have the experience, backed up by formal training, to handle the complexities of their insurance needs.
An insurance designation also gives your employer confidence in knowing you're serious about your career. It lets prospective employers know that you have attained a specific level of knowledge about insurance and the industry. Brokerages often choose candidates with a CAIB designation over those without, simply because they know CAIB graduates are more versatile and capable in fulfilling insurance broker duties.
An insurance designation helps you advance in your career, and ultimately your earning power. A supervisory role within a brokerage requires a Level 2 license, for example. Insurance designations are the gateway to furthering your career aspirations in the industry. In addition, an approved designation lets you to meet your licensing requirements with fewer continuing education credits.
There are three insurance broker designations currently recognized in British Columbia:
CAIB (Certified Accredited Insurance Broker)
CAIB is the nationally recognized designation of the professional insurance broker. In B.C., passing CAIB exams is a recommended way of upgrading your general insurance license. CAIB courses acquaint producers more fully with the major coverages that generate 90% of premium volume. They also deal with marketing management and office operations and prepare the student for proprietor-licensing examinations.
CPIB (Canadian Professional Insurance Broker)
CPIB is the senior designation program for brokers who have achieved a CAIB, CCIB or AIIC/CIP designation. It is positioned at a university level of study and consists of a combination of three mandatory courses and three university/college electives.
CCIB (Canadian Certified Insurance Brokers)
CCIB is a senior designation designed for commercial insurance brokers who have already completed their CAIB. The CCIB is known as the 'graduate degree' of Commercial Lines brokers. This national designation has long been recognized as the mark of Commercial Lines knowledge and experience. The CCIB Program is a self-study program involving three exams, which are all practical and experience-based.
The New Broker Essential Skills certificate program assists junior brokers in quickly becoming office savvy and familiar with the day-to-day basics of transacting insurance. Students in this program learn the essentials of being a broker quickly and effectively while requiring less internal training by your employer. While the New Broker Essential Skills program helps to get new brokers up and running, it does not take the place of core licensing courses - the Fundamentals of Insurance or CAIB courses - for the licensing of brokers in B.C. Instead, the program includes several of those courses as an integral part of its curriculum. Click here for more details.