The Myanmar Insurance Association (MIA) will adopt the qualification programmes of Britain’s Chartered Insurance Institute (CII).
In late 2019, the two parties signed an agreement where the MIA will hold exams for CII qualifications twice a year, in April and October, a Myanmar Times report said. This means that candidates in Myanmar will no longer be required to travel abroad in order to take the CII examinations.
Since it was liberalised in 2019, one of the top challenges for the Burmese insurance industry has been the lack of qualified professionals to help run the fast-growing sector. Many international insurers have been granted permission to do business in the country, which, until 2011, was under military dictatorship.
According to MIA’s U Aung San, the development will allow insurance professionals to obtain CII qualifications in Yangon and other cities, which is a major step in building capacity and education in the insurance industry.
“If we have many qualified and professionally competent people in the industry it will definitely contribute towards improving the quality and service of insurance companies as well as other insurance related services,” he was quoted as saying in the report.
