Insurance professionals may be wondering if there are certifications that can help them in supervisory or management positions in insurance companies. There are, in fact, several certifications you can pursue, and one of them is the Associate in Management (AIM) designation.
The AIM title can help you secure managerial roles because of its focus on enhancing your decision-making and interpersonal skills. It also teaches new managerial technologies and how to leverage them, along with instruction on professional ethics.
In this article, Insurance Business discusses the Associate in Management certification for the benefit of those wanting to gain more skills and secure a management or supervisory position in their organization. The AIM certification is also meant for those who want to improve their managerial skills and move up in their company hierarchy. We’ll delve into important questions concerning this title, including:
We’ll tackle these and more, so let’s get into it.
This is a designation for insurance professionals. It is mainly focused on training middle managers who work in a supervisory capacity. The AIM focuses on developing or enhancing a professional’s decision-making and interpersonal skills. Training within the AIM centers on subjects like:
To get this designation, candidates must take three core courses and two ethics courses, namely:
After completing these courses, candidates must then take three national examinations. Two of these are exams designed specifically for this program, while the third is for an ethics course that is also a qualification for the Chartered Property Casualty Underwriter (CPCU).
The AIM title is administered by The Institutes. The process for obtaining this designation requires a few steps:
The AIM program mainly prepares mid-level managers for more senior positions. Its curriculum includes management principles and general managerial skills, human resource management, and effective leadership across various organizational roles. Candidates must complete these courses before taking the exams.
After completing the courses, candidates must pass exams for each of the courses. The passing grade for these courses is 75 percent.
Anyone pursuing the AIM designation must take the Ethical Guidelines for Insurance Professionals online module. This is a 50-question exam and is offered by The Institutes for free.
The good news about the Associate in Management designation is that unlike an insurance agent license or an insurance broker license, there are no renewal fees or continuing education (CE) requirements.
However, it is advisable to enhance the knowledge and skills you obtain with the AIM designation by getting other related insurance certifications that can boost your career and credibility.
Candidates will have to pay for exam fees and study materials. This will cost ranges from $1,800 to $2,500.
On average, it can take approximately nine to 15 months to finish all the courses and take the exams.
The Associate in Management degree program is well-suited for current and aspiring managers who need to learn the fundamentals of management. This is also a good training ground for learning critical skills like building and managing teams, making sound business decisions, and problem-solving.
Insurance professionals who are in managerial positions or supervisory roles can find new career opportunities with the Associate in Management title. Here are some of the other benefits of completing the program:
Students enrolled in this program can learn the core principles of management, general management theories, and principles. They can also pick up fundamental management concepts like planning, organizing, controlling, and leading; concepts that are essential for working in a leadership role.
One of the most essential skills for leaders is communication. The AIM program has courses that can help you develop and enhance these skills, including verbal, non-verbal, and written communication.
These skills are important regardless of what position you hold or role you fill in your organization. Knowing how to communicate effectively is critical to deliver a concise presentation, lead teams, draft detailed reports, or craft an important email or other business correspondence.
Effective communication and leadership can prevent any misinterpretation or misunderstanding and keep your projects running smoothly.
While leadership can come naturally to some people, there is always room for improvement. Students in this management program can learn about and work on developing these skills. Good leadership is essential for motivating and managing teams and making important organizational changes.
More than delegating tasks or directing others to do what needs to be done in your organization, good leadership means fostering teamwork and collaboration. It also involves resolving conflicts or disagreements arising among employees.
Learning about management can inform students about the existence of different roles in business and other industries. Many companies in different industries have varying levels of positions and roles that each manager or leader must be responsible for.
Taking the Associate in Management program can introduce you to these roles, so you can understand them better and explore career path opportunities. As you take the courses, you can have a clearer idea of what sort of business role you can or want to have as a manager.
With this kind of knowledge, candidates can focus on finding these career opportunities and develop the skills necessary to succeed in their chosen role.
Pursuing this title is beneficial to those who can only take classes part-time. This is ideal for full-time workers as they don’t need to make big adjustments to their work schedule.
As long as AIM students keep the pace of taking classes, doing projects and assignments, they can enjoy the flexibility of learning while working. Accumulating real-world professional experience while studying can give students a well-rounded learning experience. This can also be useful when finding employment or clients afterwards.
Thanks to the skills and knowledge an AIM title holder gains, these can translate to more opportunities of getting a raise or getting offers of attractive compensation packages from insurance companies.
Getting the AIM title does not only translate to greater employability and potentially higher salaries in the insurance industry alone, but also across other industries. An AIM can get land you an entry-level management position.
An Associate in Management degree can help you and your resume stand out compared to other applicants. Typically, management roles that you can secure with this title offer higher salaries than non-management positions.
An associate degree can help you get promoted to a higher position at your current employer. The time and effort you put into getting this title can be recognized by upper management and increase your chances of advancing your career.
Obtaining this degree is no simple endeavor, and this achievement can give you a sense of accomplishment and pride. Working hard to earn this associate degree can also boost your self-confidence. This can effectively give you an advantage when applying for management positions and making a good impression in job interviews.
Like getting a bachelor’s degree in business management, there are no maintenance requirements for AIM degree holders. You don’t have to devote extra time, money, or effort to find continuing education (CE) course providers to earn CE credits.
Yes, in fact, the whole process of getting the Associate in Management designation is all done online – from signing up for the courses to exam registration, to taking the final exams.
An associate’s degree like this can garner designees management jobs in various industries apart from insurance – healthcare, technology, and business. You can get jobs like:
The U.S. Bureau of Labor Statistics (BLS) came up with a study revealing that management occupations are projected to grow faster than the average of all occupations by 2033. This is a clear indication that there will be greater demand for management roles in the coming years. More new managers will also be needed to replace those who will be retiring and exiting the workforce.
Generally, the AIM title is worth pursuing due to the many benefits and advantages it can confer. The main benefit is that this designation can provide you with a solid grasp of management principles and practices. You can also develop practical skills for effective team management and strategic planning.
Individuals may also enhance their professional communication skills, develop and follow data standards, and help teams manage complex cyber risks. The AIM program is worth the effort, as it can build an insurance professional’s managerial skills within the risk management and insurance framework.
Did you find this article on the Associate in Management useful? Let us know in the comments
