UAE: Insurance Authority launches professional training academy
Source: Middle East Insurance Review | May 2020
The UAE Insurance Authority (IA) has launched a professional training academy, in cooperation with specialised international scientific and educational institutes and centres such as the Chartered Insurance Institute (CII), to provide training in insurance and actuarial science, in a way that contributes to promoting the Emiratisation process and grooming talent for top management positions in the sector.
Minister of Economy and IA chairman Sultan Bin Saeed Al Mansouri said the launch of the academy is in parallel with the relief and stimulus package initiated by the regulator to support insurers and related professions during the COVID-19 pandemic. For now, the courses offered by the academy will be available online.
He indicated that the academy will provide training programmes free of charge to citizens and workers in the sector. The academy will help insurers and related professions to reduce training costs and encourage citizens to work in the insurance sector, raise the efficiency of human resources and provide them with the necessary skills and qualifications that enable them to improve performance.
The academy will offer these courses:
- A preparatory programme for those wishing to obtain certificates in various courses, including introduction to insurance, customer service, financial planning, investment, and claims processing;
- A leadership programme which aims to create a generation of Emirati leaders in insurance companies and support the localisation of specialised talents in the sector;
- An actuarial programme including analysis; and
- A course on combating financial crimes, such as money laundering and terrorism financing. M