The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) has been included in the Future Skills Framework (FSF) for Malaysia’s financial sector.
This initiative, designed to develop talent within the financial industry, is a collaboration among the Asian Institute of Chartered Bankers (AICB), Islamic Banking and Financial Institute Malaysia (IBFIM), and the Malaysian Insurance Institute (MII).
The FSF aims to equip professionals in the financial sector with the skills needed to adapt to its rapidly changing environment. It focuses on capacity-building programs and continuous education to address skill gaps and enhance the industry’s resilience.
ANZIIF is recognised within the FSF as a capacity-building provider for skill development, offering industry-endorsed qualifications and skills training to insurance professionals across Malaysia.
ANZIIF CEO Katrina Shanks reaffirmed the association’s commitment to increasing insurance professionals’ competency, knowledge, and skills.
“It is an honour to be part of the solution to upskill insurance professionals alongside prestigious Malaysian institutes. ANZIIF is committed to increasing insurance professionals’ competency, knowledge, and skills,” she said.
ANZIIF has also released a video titled “IT Outage: Are You Ready?” in response to the global IT outage on July 19.
The video offers guidance on what insurers can expect following such outages and encourages them to explore ways to help clients mitigate business and cyber risks.
The global IT outage, caused by a faulty CrowdStrike software update, impacted millions of people and businesses, resulting in numerous insurance claims. Credit rating agency Fitch Ratings (Fitch) expects global insured losses to reach middle or high single-digit billions of dollars. However, amid the influx of claims and potential litigation, the agency said the event is unlikely to significantly affect global insurance companies’ financial results.
Shanks stressed the importance of having knowledgeable insurance professionals during such events.
“In instances like these, the value of having a trusted insurance professional who is able to understand your business and place you with the correct protections is vital,” she said. “In these changing times, it has never been more important to understand the needs of your clients and the insurance products which provide your clients with the right protections and peace of mind.”
