OUR VISION OUR MISSION - scicollege.org.sg · development education, the administration of industry and regulatory examinations, as well as the award of ... Strategic Business Development

OUR VISIONTo be a premier professional training and educational institution, internationally recognised for its programmes for the insurance and related fi nancial services industry.

OUR MISSIONTo provide the highest quality professional training and education for the insurance and related fi nancial services industry, so as to contribute to Singapore’s development as an international fi nancial centre.

OUR OBJECTIVES• To expand the pool of professionally qualifi ed insurance and related fi nancial

services professionals through various means, including examinations, assessment and certifi cation.

• To continuously develop and provide high quality insurance and related fi nancial services education and training programmes, including seminars, lectures and conferences, both in Singapore and across Asia.

• To provide various platforms, both nationally and internationally, for insurance and related fi nancial services professionals to network and exchange knowledge and experience.

• To build and maintain an insurance and related fi nancial services research and information resource centre.

• To enhance intellectual depth through creating and developing curriculum content, as well as writing and producing publications, including textbooks, magazines and journals on insurance and related subjects.

• To promote public awareness of insurance and related matters through various activities involving the community, as well as public and educational institutions.

Contents05 Corporate Profi le

Board of Governors

Academic Board

Examination Board

Past Chairpersons of SCI

Current Chairman of SCI

About Singapore College of Insurance

09 R2 Regional Routes Training Programmes

• Series of Marine and Energy Insurance Programmes

• Series of Reinsurance Programmes

• Series of Specialist Insurance Programmes

• Series of Insurance Claims Programmes

• Series of Life Insurance & Financial Planning Programmes

• Series of Engineering Insurance Programmes

P2 Practice-Oriented Programmes (Continuing Professional Development [CPD] Programmes)

Corporate Training Solutions (CTS) Programmes

C2 Certifi cation & Competencies Programmes

Online Learning Programmes

Other Events & Conferences

Technical Training Programmes

19Talent Development Programmes

21International Collaborations

24 Regulatory Examinations

Professional Examinations

New Study Texts Released in 2017Regulatory & Professional Examinations

37 R2 Regional Routes Training Programmes P2 Practice-Oriented Programmes (CPD Programmes)

C2 Certifi cation & Competencies Programmes & Corporate Training Solutions (CTS) Programmes

Regulatory & Professional Examinations

Statistical Information

44Financial Information

48Annex To Technical Training Programmes

AboutSingapore College Of Insurance

The Singapore College of Insurance (SCI) is a not-for-profit professional training and education body set up in 1974, as part of Singapore’s efforts to develop as a financial hub.

For more than 43 years, the SCI has remained focused in its efforts to upgrade the technical expertise of insurance and financial services practitioners, and to provide them with professional advancement opportunities, through its series of practice-oriented programmes and internationally-accredited qualifications. Since the late 1970s, the SCI has also played the role of an industry examination body to conduct regulatory examinations for those wishing to join the financial advisory, life and general insurance industries.

Since 2009, the SCI has also expanded its role to include talent development programmes, such as the Insurance Executive Scholarship Programme (IESP) and the Insurance Management Associate Programme (iMAP) that have succeeded in attracting and placing numerous fresh tertiary talent into the varied functions in the industry. The SCI was voted the Asia Insurance Industry Educational Service Provider of the Year in 1997, 2001, 2007 and 2016. It has international links with professional bodies, such as The Chartered Insurance Institute (CII), The Chartered Institute of Loss Adjusters (CILA), The American College (TAC), The Life Office Management Association (LOMA), LIMRA, The Australia and New Zealand Institute of Insurance and Finance (ANZIIF) and The Institutes, as well as with other training institutes in the region, through its involvement in the ASEAN Insurance Education Committee (AIEC) projects. The SCI has also actively helped to set up the Asia-Pacific Risk and Insurance Association (APRIA) to further insurance education, and to promote links between academia and the industry.

Corporate Profile

SCI is registered as a charity and it is funded by revenue generated from its activities. The principal activities of SCI include the provision of continuing professional development education, the administration of industry and regulatory examinations, as well as the award of professional designations in insurance and financial planning.

SCI is governed by a Board of Governors, chaired by the Executive Director (Insurance), Monetary Authority of Singapore (MAS), with representatives from its four founding Associations, namely General Insurance Association of Singapore (GIA), Life Insurance Association, Singapore (LIA), Singapore Insurance Brokers’ Association (SIBA), and Singapore Reinsurers’ Association (SRA), as well as appointed governors.

SCI’s main constitutional document is its Memorandum and Articles of Association which governs the purposes and administration of SCI.

Charity Registration Number

CPE Registration Number

Registered Address : 9 Temasek Boulevard, #14-01/02/03, Suntec Tower Two, Singapore 038989

Period of CPE Registration

E-mail

Website

Chief Executive

Banker

Independent Auditor

: From 26 September 2015 to 25 September 2019

: 199408491M

: 001092

: [email protected]

: www.scicollege.org.sg

: Karine Kam Appointed on 19 November 1994

: DBS Bank Ltd

: RT LLP

Company Secretary : Karine Kam Appointed on 21 December 1994

5

Chairperson

Ms Lee Keng YiDirector & Department HeadInsurance DepartmentMonetary Authority of Singapore(Appointed to SCI Board of Governors on 2 December 2014 and Resigned on 12 April 2017)

Ms Ho Hern ShinExecutive Director (Insurance)Monetary Authority of Singapore(Appointed to SCI Board of Governors on 13 April 2017 and Resigned on 30 November 2017)

Mr Daniel WangExecutive Director (Insurance)Monetary Authority of Singapore(Appointed to SCI Board of Governors on 1 December 2017)

Appointed Governors

Mr Michael EuManaging DirectorUnited Legal Alliance LLC(Appointed to SCI Board of Governors on 1 June 2012)

Professor Francis Koh Professor of Finance (Practice)/Mapletree Professor in Real EstateSpecial Adviser, Office of PresidentDirector, MSc in Wealth ManagementSingapore Management University(Appointed to SCI Board of Governors on 1 November 2013)

Mr Paul Faulkner Executive Director /Chief Risk OfficerMSIG Holdings (Asia) Pte. Ltd.(Appointed to SCI Board of Governors on 30 August 2013)

Representing the General Insurance Association of Singapore

Mr A K Cher Chief Executive Officer & Managing DirectorTokio Marine Insurance Singapore Ltd(Appointed to SCI Board of Governors on 6 September 2013)

Board of Governors

Mrs Doina Palici-Chehab Chief Executive OfficerAXA Insurance Pte Ltd (Appointed to SCI Board of Governors on 25 June 2015 and Resigned on 24 June 2017)

Ms Stella Tan Chief Executive Officer Sompo Insurance Singapore Pte Ltd(Appointed to SCI Board of Governors on 24 July 2017)

Representing the Life Insurance Association, Singapore

Mr Patrick Teow Chief Executive OfficerAIA Singapore Private Limited(Appointed to SCI Board of Governors on 13 April 2017)

Dr Khoo Kah Siang Senior Managing DirectorStrategic Business Development & Regional BancassuranceThe Great Eastern Life Assurance Co Ltd(Appointed to SCI Board of Governors on 13 May 2013 and Resigned on 6 March 2017)

Mr Ken Ng Chief Executive NTUC Income Insurance Co-operative Limited(Appointed to SCI Board of Governors on 3 July 2015)

Representing the Singapore Insurance Brokers’ Association

Mr Gerald Lim Chairman Au Group Asia Pte. Ltd.(Appointed to SCI Board of Governors on 10 January 2011)

Representing the Singapore Reinsurers’ Association

Mr Marcus Haushofer Chief Executive Officer (Asia Pacific) & Executive Vice President (Bermuda)Validus Reinsurance, Ltd. Singapore Branch(Appointed to SCI Board of Governors on 2 March 2017)

6

Chairperson

Dr Yeo Keng Leong(Appointed to SCI Academic Board on 6 September 2013 and Resigned on 31 March 2017)

Dr Shinichi Kamiya (Appointed to SCI Academic Board on 1 April 2017)

Representing the General Insurance Association of Singapore

Ms Stella Tan(Appointed to SCI Academic Board on 17 February 2011)

Representing the Life Insurance Association, Singapore

Mr Ken Ng(Appointed to SCI Academic Board on 25 July 2016)

Representing the Monetary Authority of Singapore

Mrs Beng Du Maniar(Appointed to SCI Academic Board on 17 February 2011)

Representing the Singapore College of Insurance

Ms Karine Kam (Appointed to SCI Academic Board on 17 February 2011)

Representing the Singapore Reinsurers’ Association

Mr Kenrick Law (Appointed to SCI Academic Board on 1 August 2016)

Academic Board

Chairperson

Ms Karine Kam(Appointed to SCI Examination Board on 17 February 2011)

Representing the Monetary Authority of Singapore

Ms Veronica Chia (Appointed to SCI Examination Board on 17 February 2011)

Representing the Singapore College of Insurance

Ms Zoey Chung(Appointed to SCI Examination Board on 17 February 2011)

Mr Kwek Seow Yang(Appointed to SCI Examination Board on 17 February 2011 and Resigned on 31 August 2017)

Ms Janice Ong (Appointed to SCI Examination Board on 1 September 2017)

Examination Board7

1974 to 1975Mr Lim Kim KuayInsurance Commissioner, MAS

1976Mr F J D’CostaInsurance Commissioner, MAS

1977 to 1979Mr Tan Guan AikInsurance Commissioner, MAS

1980 to 1992Mr Law Song KengInsurance Commissioner & Actuary, MAS

1993 to 1999Mrs Lim Shu ChiauExecutive Director, Insurance Department, MAS

2000 to 2005Mrs Hauw Soo HoonExecutive Director, Insurance Supervision, MAS

2005 to 2010Mr Low Kwok MunExecutive Director, Insurance Supervision, MAS

2010 to 2013Ms Luz FooExecutive Director, Insurance Supervision, MAS

2013 to 2014Ms Loo Siew YeeExecutive Director, Insurance Department, MAS

2014 to 2017Ms Lee Keng YiDirector and Department Head, Insurance Department, MAS

13 April to 30 November 2017Ms Ho Hern ShinExecutive Director (Insurance), MAS

Past Chairpersons of SCI

2017 to dateMr Daniel WangExecutive Director (Insurance), MAS

Current Chairman of SCI8

TECHNICAL TRAININGPROGRAMMES2017 at a glance...

112programmes 2,735

participants

Regional RoutesProgrammes (R2)

613 Participants

Practice-OrientedProgrammes (P2)(CPD Programmes)

873 Participants

Corporate TrainingSolutions (CTS)

670 Participants

Certification &Competencies (C2)

567 Participants

0 5 10 15 20 25 30 35 40 45 50

Number of Intakes Number of Programmes

Online LearningProgrammes

12 Participants

9

TECHNICAL TRAININGPROGRAMMES2017 at a glance...

112programmes 2,735

participants

Regional RoutesProgrammes (R2)

613 Participants

Practice-OrientedProgrammes (P2)(CPD Programmes)

873 Participants

Corporate TrainingSolutions (CTS)

670 Participants

Certification &Competencies (C2)

567 Participants

0 5 10 15 20 25 30 35 40 45 50

Number of Intakes Number of Programmes

Online LearningProgrammes

12 Participants

10

11

In 2017, we conducted a total of 112 programmes that were attended by 2,735 participants. Of these, close to 83% were from local companies. Of the remaining 17% who came from outside Singapore, the majority were from countries including Indonesia, Malaysia, Philippines, India, Thailand, South Korea, Brunei and Hong Kong. We also received participants from countries outside the region like Maldives, Papua New Guinea, Pakistan and Seychelles.


In 2017, our Series Of Marine Insurance Programmes, which were conducted by veteran lecturers and industry practitioners, continued to be popular, with 71 participants who attended six programmes.

“Underwriting Project Cargo Insurance”, a new programme under the series, had the highest enrolment number under this series with 18 participants. This two-day programme provided the participants with a comprehensive study of the discipline involved in the underwriting of Project Cargo Insurance (including DSU/ALOP). The programme, “Initial Introduction To Marine Hull, Cargo, Liability Insurance And P&I”, also received encouraging enrolment numbers with 13 participants.

SCI’s series of Reinsurance fl agship programmes continued to be very well received by both local and foreign participants. A total of eight programmes were conducted in 2017, and they attracted 196 participants. The foreign participants came from countries like Guam, Hong Kong, Indonesia, India, Malaysia, Papua New Guinea, South Korea and Thailand.

The programme, “The ‘Nuts & Bolts’ Of Treaty Reinsurance: Proportional Treaty Reinsurance”, attracted a total of 47 participants, which was the highest enrolment number amongst the technical training programmes.

The 7th intake of “The Art Of Reinsurance: An Introduction To Reinsurance” was held at Village Hotel Changi. We had a total of 20 participants, fi ve of whom were from overseas (Thailand, Papua New Guinea, Indonesia and Philippines). We also had guest speakers for the lunchtime presentations, which included topics on the role of rating agencies in reinsurer security assessment, client management skills and reinsurance claims.

Series Of Reinsurance ProgrammesSeries Of Marine & Energy Insurance Programmes

We conducted 39 Regional Routes Programmes (R2), 44 Practiced-Oriented Programmes (CPD Programmes) (P2), 16 Corporate Training Solutions Programmes (CTS), nine Certifi cation & Competencies Programmes (C2) and four Online Learning Programmes.

Below are highlights of some of our series.

R2 Regional Routes Training Programmes

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We conducted two programmes under this series for a total of 31 participants.

“Social Media & Cyber Risk Insurance”, a one-day programme, attracted a total of 14 participants. It enabled participants to gain a practical understanding of the scope and applications of Cyber Risk Insurance. The trainer made use of various case studies to increase the participants’ level of engagement by getting them involved in discussions and sharing sessions with their peers.

The “Specialist Liability Risks: Terrorism & Contingency Insurance” programme attracted 17 participants. Positive feedback was received from the participants — they felt that as the programme leader shared and discussed cases with them, the programme was very informative.

Series Of Specialist Insurance Programmes

A new programme, “The ‘Nuts & Bolts’ Of Group Employee Benefi ts Insurance”, was held on 20 & 21 April 2017, attracting a total of 20 participants. This programme provided participants with a fi rm foundation to underwrite Group Employee Benefi ts Insurance and to handle claims relating to this class of business. It also enabled marketing personnel, brokers and other intermediaries to be more eff ective in developing and retaining their employee benefi ts prospects by rendering them the appropriate technical advice and claims handling service.

Employee Benefi ts Programme

13

The series of Engineering Insurance programmes continued to be well received by the participants. We conducted six programmes for a total of 78 participants.

For one of the programmes, “Practical Understanding Of Engineering & Construction Risks & Technology (Incorporating Site Visit)”, 28 participants had the opportunity to make a visit to the LRT Project Information Centre at Marine Parade. The visit was hosted by Land Transport Authority, Singapore.

SCI also organised a three-day Residential Programme, “Claims Aspects Of Engineering & Construction Insurance”, from 1 to 3 August, for 10 participants. They learnt about the special consideration that should be given to addressing claims handling complications and issues arising from engineering and construction insurance. Case studies were used to elaborate how various policy wordings and endorsements are applicable to equitable claims assessment. This specially-designed training programme included a visit to a forensic laboratory to witness testing and examination procedures for failure analysis of various materials.

Series Of Engineering Insurance Programmes

In collaboration with LIMRA, SCI organised the inaugural intake of the “Trustworthy Selling – Professional” course in Singapore for the financial planners and life agency forces, with eight participants. “Trustworthy Selling – Professional” is a course jointly developed by LIMRA and Hoopis Performance Network (HPN), anchoring on LIMRA’s industry-leading research and combined with field-tested language drawn from HPN’s vast network of top producing financial representatives. The course originated from the United States, and participants who attended the course were shown to have increased their premiums, grown their policy counts and increased their number of clients.

Series Of Life Insurance & Financial Planning Programmes

Series Of Insurance Claims Programme

Four programmes were conducted under this series, which attracted a total of 51 participants.

The “Workshop In Claims Practice: Property, Liability & Professional Indemnity Claims Handling” provided 17 participants with practical insights into handling property (including business interruption), liability and professional indemnity claims in an efficient and professional manner, from receipt to settlement.

14

This programme attracted 22 participants. The lecturer highlighted to participants the impact of the loss of a keyman, as well as the impact that a lack of business succession planning can have on the business and deceased business owner’s estate. The use of life insurance in keyman protection and business Buy-Sell Agreement was also discussed in this course. The lecturer touched on solutions that included business succession planning, key employee protection, golden handcuff, credit protection and general/group insurance.

Business Insurance Planning– A Case Study Approach

A total of 29 participants attended this programme. The participants learnt about the coverage of a Products Liability Insurance policy, so that they could underwrite such risks and handle such claims effectively. Topics such as the legal framework, endorsement/extensions, and the limit of liability were also covered.

Policy Coverage – Products Liability Insurance

This programme attracted 14 participants. Through this programme, participants understood the coverage afforded under the two related policies — Contractors’ All Risks (CAR) and Erection All Risks (EAR) insurances. The differences between these two policies were highlighted and specific clauses/endorsements were addressed. Case studies were also used to share the applications of these respective insurance policies.

A Simplified Comparison Study Between CAR & EAR Insurances

This programme once again proved its popularity among Motor Dealers, Trade Specific Agents, and other intermediaries. A total of 75 participants who joined this programme had the opportunity to better appreciate the contractual terms and coverage of a Motor Insurance policy in addition to underwriting considerations. Together with insights into Motor Insurance claims and how disputes arise, this programme equipped our participants with the relevant knowledge and practical tips to be more effective in their daily business activities.

The A-Z On Motor Insurance From A Sales & Customer Service Perspective

In 2017, SCI conducted 44 CPD programmes, including three courses which were conducted in partnership with the Singapore Training and Development Association (STADA). These courses attracted a total of 873 participants and were held from March to December 2017.

P2 Practice-Oriented Programmes (Continuing Professional Development [CPD] Programmes)

15

Training By SCI In Collaboration With Thailand Insurance Institute (TII)– “Digital Marketing In Insurance”,Bangkok, Thailand

In collaboration with the Thailand Insurance Institute (TII), SCI organised a “Digital Marketing In Insurance” programme on 20 October 2017. The programme covered the global insurance market landscape, how it is changing, what the future insurance market will look like, and the steps that companies can take to transform themselves in the future.

The programme attracted a total of 107 participants from various sectors of Thailand’s insurance industry, including the general insurance sector, the life assurance sector, the regulator’s office, the insurance brokers, as well as reporters. This programme was sponsored by TII and the Thai Life Assurance Association (TLAA) for the Thailand insurance industry.

In collaboration with SCOR Re, SCI organised a series of life and medical insurance training modules to provide Life Insurance Practitioners (Underwriters & Claims Assessors) with an opportunity to experience fundamental theory learning and also to provide an insight into case underwriting and claims management. The key objectives of this programme were to provide a practical approach to wide-ranging medical underwriting/claims topics, while equipping the participants with essential and fundamental Life Insurance theory. There were five modules altogether at the introductory-intermediate level, comprising three Underwriting modules and two Claims modules. The modules were well received by a total of 92 participants from the industry.

Life & Medical Insurance Training Programmes– A Modular Approach

We conducted 16 CTS programmes in 2017 to cater to the training needs of the sponsoring organisations. This included eight sessions of Contract Certainty (Reinsurance) seminars. A total of 670 participants attended these programmes.

Training By SCI For The China Insurance Regulatory Commission (CIRC)– Chongqing Bureau, Chongqing, China

SCI was invited by The China Insurance Regulatory Commission (CIRC) – Chongqing Bureau, to conduct training on 14 November 2017 in Chongqing on the Singapore Insurance Market. The audience comprised 230 senior managers from various insurance companies. Mr Perry Tan presented on “The Structure and Development of the Singapore Insurance Market and Talent Development”. In addition, Ms Mimi Ho gave a presentation on “The Regulatory and Supervisory Framework for Insurers in Singapore”. Representatives from the MAS’s Beijing Representative Office also attended the session. SCI’s presentation at this event provided a good platform for SCI’s brand name, initiatives and programmes to be profiled. We highlighted the structure of the Singapore insurance market and also SCI’s various programmes and initiatives in talent development for the Singapore and regional markets.


16

We conducted nine Certifiable Skills programmes that attracted a total enrolment of 567 participants as follows:

1. Certifiable Skills Programme on Basic Concepts & Principles In General Insurance – three intakes, with a total of 69 participants;

2. Certifiable Skills Programme on Personal General Insurance – three intakes, with a total of 62 participants;

3. Certifiable Skills Programme on Commercial General Insurance – three intakes, with a total of 79 participants;

4. Certificate in Health Insurance – one intake, with a total of 11 participants;

5. Certificate in Motor Insurance for Motor Dealers – seven intakes, with a total of 141 participants;

6. Certificate of Proficiency in Foreign Domestic Worker Insurance – five intakes, with a total of 98 participants;

7. Certificate of Proficiency in Foreign Worker Insurance – three intakes, with a total of 46 participants;

8. Certificate of Proficiency in Travel Insurance – four intakes, with a total of 46 participants; and

9. Certificate in Financial Needs Analysis & Plan Construction – one intake, with a total of 15 participants.

C2 Certification & Competencies Programmes

SCI introduced a series of online learning modules in April 2017, which attracted a total of 12 participants. These modules were as follows:

1. Reading and Understanding an Insurer’s Financial Statements, with a total of 1 participant;

2. Basic Time Value of Money Concepts and Applications, with a total of 6 participants;

3. Advanced Time Value of Money Concepts and Applications, with a total of 1 participant; and

4. Structured products and Structured Investment-linked policies, with a total of 4 participants.


17

SCI has previously organised three Financial Planning (FP) Conferences in 2000, 2001 and 2002 together with Life Underwriters Association - LUA (now the Insurance and Financial Practitioners Association of Singapore [IFPAS]) to promote best practices. The FP Conference was revived in 2017, after a discussion between SCI and IFPAS to collaborate and organise the Conference in conjunction with its Graduation Ceremony for ChFC/S and CLU/S holders for the year.

The event was held on 9 January 2017 at Toa Payoh HDB Hub in conjunction with the ChFC/S and CLU/S Graduation Ceremony. There were 131 ChFC/S and 11 CLU/S holders, and about 40 of them attended the Graduation Ceremony. As for the FP Conference, we saw a total of about 215 attendees, including a delegate from Brunei. The Guest-Of-Honour for the conference was Dr Koh Poh Koon, Minister of State, Ministry of National Development & Ministry of Trade and Industry.

With the Conference theme focused on retirement planning, we invited Mr Curtis V. Cloke, a financial professional and retirement income expert with over 29 years of experience in income distribution planning, to speak on advanced retirement income-planning strategies and techniques for financial planners. The two topics that he spoke on were: (1) Defining Client Fears and Retirement Risks, and (2) Retirement Planning “Built To Last”.

Financial Planning Conference, Held In Conjunction With ChFC/S And CLU/S Graduation Ceremony

The 2nd intake of the ANZIIF/SCI RISC Singapore course was held from 25 to 28 September 2017, and it continues to receive excellent feedback and testimonials from the participants, with some commenting that it was an intensive and highly practical course. The intake attracted a total of 48 delegates from 35 companies coming from nine countries (Cambodia, Bangladesh, Indonesia, Malaysia, Papua New Guinea, Philippines, Singapore, Sri Lanka, and Thailand).

The four-day ANZIIF/SCI RISC Singapore was an intensive mix of presentations from leading experts from the insurance and reinsurance industry, coupled with hands-on syndicate work exploring the fundamentals of reinsurance. Its aim was to provide delegates with a solid understanding of reinsurance in practice. The inaugural intake of the ANZIIF/SCI RISC was held in 2016 with great success.

During the course, the “John Allison Award” was presented to the top performer at ANZIIF/SCI RISC Singapore, in honour of John Allison’s 50-year contribution to the reinsurance industry, in particular the Reinsurance International Study Course.

2nd Intake, ANZIIF/SCI Reinsurance International Study Course (RISC) Singapore

Other Events & Conferences

18

SCI held the 8th intake of the AYIM programme from 22 to 27 October 2017 in Hanoi, Vietnam. The aim of the five-day AYIM programme was to develop promising, high-potential young insurance managers into multi-faceted leaders with an integrated view of management fundamentals and a broad market vision to assume the cross-functional responsibilities of company and industry leaders. Guest lectures were also conducted over breakfast and lunch hours to provide the participants with an in-depth understanding of the insurance environment in Vietnam.

The 8th intake of the AYIM programme saw a total of 47 participants from seven ASEAN countries and 26 companies. Over the years, the programme has served as a platform for high-potential executives to network and share perspectives from across the region.

On 19 June 2017, SCI hosted a group of ten students and two faculty members from the Master class in Insurance Management from ZHAW School of Management and Law, Zurich University of Applied Sciences. The students, all insurance professionals working in a variety of positions at leading Swiss insurance companies, were on a study trip to Singapore to learn about the characteristics of the insurance market in Singapore and its role as a global insurance hub, as well as the role of SCI. The following topics were covered during the visit: “Singapore Insurance Market” by Perry Tan, as well as “Singapore Reinsurance Market’s Attractiveness For International Reinsurers” and “Doing Insurance Business In Singapore” by Soeren Soltysiak.

The 14th SIRC, which attracted 917 delegates from 46 countries, was held on 31 October to 2 November 2017 at the Sands Expo and Convention Centre, Marina Bay Sands, Singapore. It was officially opened by Mr Lim Hng Kiang, Minister for Trade & Industry (Trade) and Deputy Chairman, Monetary Authority of Singapore. The SIRC, which has become an annual event from 2017 onwards, is the ideal platform for insurers, brokers and reinsurers to take stock of the reinsurance market and set the tone for the renewal season while exploring new avenues for business cooperation. The event provided three days of high-level networking and co-operation opportunities, with Lloyd’s Coffee House serving as the integral core of the event where all interested parties met under one roof.

ASEAN School For Young Insurance Managers (AYIM) Programme

14th Singapore International Reinsurance Conference (SIRC)

Hosted Students From Zurich University Of Applied Sciences, Switzerland

19

The 2nd intake of the iMAP-GI track was launched on 1 July 2015, where 13 Management Associates (MAs) were placed with seven Sponsoring Institutions (SIs). The MAs completed the 24-month programme on 30 June 2017. The programme comprised study modules leading to professional insurance designations and certifi cations, functional rotations, mentoring by senior managers with the SIs, and a two-week International Exposure Programme (IEP) in London. All 13 MAs achieved their ACII certifi cation in 2017.

The Insurance Industry Talent And Leadership Development Framework (IITLDF) was developed by MAS in partnership with the industry, and was announced by the MAS Managing Director, Mr Ravi Menon, at the opening of the 12th Singapore International Reinsurance Conference on 6 November 2013 as one of the strategic initiatives conceptualised to achieve MAS’s vision for Singapore to become a global insurance/reinsurance marketplace by 2020.

Together with MAS, various industry associations and corporations, including General Insurance Association of Singapore (GIA), Life Insurance Association, Singapore (LIA), Singapore Insurance Brokers’ Association (SIBA), Singapore Reinsurers’ Association (SRA), Loss Adjusters Association (Singapore) (LAAS), Reinsurance Brokers’ Association (Singapore) (RBAS), Singapore Actuarial Society (SAS) and Lloyd’s, SCI conducted a series of joint industry roadshows to gather feedback from the ground on a series of programmes under the IITLDF that have been planned for the industry.

Since the inception of the Insurance Executive Scholarship Programme (IESP) in 2009 followed by the Insurance Management Associate Programme (iMAP) in 2014, these programmes have attracted a total of 199 fresh graduates into the insurance industry, of whom 114 have attained their Associate Chartered Insurance Institute (ACII) certifi cation.

The 3rd and 4th intakes of the iMAP-GI track were launched on 1 July 2016 and 1 July 2017 respectively, and a total of 28 MAs were placed with 15 SIs. The MAs were put through a rigorous interview and placement process before they were accepted by the SIs.

The 15 SIs participating in the two intakes came from various segments of the industry, including Lloyd’s Asia, Lloyd’s service companies, insurance and reinsurance companies, as well as insurance and reinsurance broking companies. The 28 MAs were provided with a wide variety of opportunities and roles in underwriting, claims, actuarial services, catastrophe modelling, broking and compliance.

The 3rd and 4th intakes of the iMAP-GI track are expected to complete their programmes on 30 June 2018 and 30 June 2019 respectively.

In 2017, a new reinsurance track was launched. The MAs in the reinsurance track will take an additional CII module in reinsurance, as well as an ACII module on Advanced Risk Financing and Transfer. There are three MAs from two reinsurance companies and a Lloyd’s Syndicate in this new reinsurance track.

Insurance Management Associate Programme – General Insurance (IMAP-GI) Track

Talent Development Programmes

20

The inaugural intake of the iMAP-LI track was launched on 1 July 2015 to provide life insurance companies with a structured talent development programme to build their talent and leadership pipeline. The eight MAs from one SI completed the iMAP programme on 30 June 2017.

The 2nd and 3rd intakes of the iMAP-LI track commenced on 1 July 2016 and 1 July 2017 respectively. The number of SIs participating in the iMAP-LI track in 2017 has also increased to three. The 29 MAs in these two intakes will spend 24 months on the iMAP programme which will lead them to the ACII certifi cation. They have been placed in varied job roles in underwriting, claims, fi nance, actuarial services, business development, compliance, etc.

Similar to the iMAP-GI track, the iMAP-LI track has been structured to provide the MAs with the necessary broad-based exposure to prepare them to work and advance their careers in the industry. At the same time, they will be provided with support through cross-functional rotations, structured on-the-job training (including leadership training), and mentoring by senior managers with the SIs. In addition, they will be required to complete an online ethics programme.

Insurance Management Associate Programme – Life Insurance (iMAP-LI) Track

INTERNATIONALCOLLABORATIONS

21

INTERNATIONALCOLLABORATIONS

22

SCI has established a close working relationship with the CII over the years. In 2017, the CII and SCI organised the Young Insurance Professionals Networking Night together as a platform to provide Continuous Professional Development (CPD) training for young professionals, including those from SCI’s Insurance Management Associate Programme (iMAP), in the industry and to provide them with the opportunity to network with other professionals within the industry.

The first Young Insurance Professionals Networking Night was held on 4 August 2017 with 30 attendees. The speaker was Mr Scott Spaven from AIG who shared his experience on the topic “Client Centricity – How Has Client Behaviour Changed Over The Years”. The second Young Insurance Professionals Networking Night was organised on 1 December 2017 with 22 attendees. We invited Mr David Guest from XL Catlin to speak on the topic of “Terrorism and Political Risk”.

SCI signed an Memorandum of Understanding with the TII in 2015 to jointly organise insurance training for the Thailand insurance industry to help raise the technical competencies of insurance professionals. In 2017, the course on “Digital Marketing In Insurance” that SCI and TII jointly organised saw 107 participants and was very well received by the industry.

The Asia-Pacific Risk and Insurance Association (APRIA) was created in 1997 to provide a means for all persons and entities with an interest in risk management, insurance, actuarial science and related areas to share ideas and to engage in collaborative research for the ultimate benefit of the insurance industry. Being an international association, APRIA draws members from around the world, particularly Asia-Pacific countries. The association welcomes participation from all countries’ academics, executives, researchers and government leaders who are willing to share ideas and to engage in collaborative research for the ultimate benefit of the insurance industry. APRIA members get together at the annual conference to share their latest research findings and learn of the latest developments in the industry.

SCI is the official Secretariat of APRIA and provides administrative support to the elected officials of the association. SCI also hosts and maintains the website of APRIA.

Joint Training Programme(s) With Thailand Insurance Institute (TII)

Asia-Pacific Risk And Insurance Association (APRIA)

Joint Activities With The Chartered Insurance Institute (CII)

REGULATORY &PROFESSIONALEXAMINATIONS

23

REGULATORY &PROFESSIONALEXAMINATIONS

24

Capital Markets & Financial Advisory Services Examinations (CMFAS)

Regulatory Examinations

In 2017, SCI continued to administer fi ve of the 15 CMFAS modules of the Securities & Futures Act (SFA) and the Financial Advisers Act (FAA) regulatory examinations as mandated by the MAS:

Module 5 : Rules and Regulations for Financial Advisory Services;

Module 8 : Collective Investment Schemes;

Module 8A : Collective Investment Schemes II;

Module 9 : Life Insurance and Investment-Linked Policies; and

Module 9A : Life Insurance and Investment-Linked Policies II.

Since 2002, SCI has administered the CMFAS Modules 5, 8 and 9. As mandated by the MAS, the two new CMFAS examinations, namely M8A Collective Investment Scheme II, and M9A Life Insurance and Investment-linked Policies II, were implemented from 3 January 2012. Those aff ected by the new regulatory requirements

were given 18 months from the implementation date to pass the relevant examinations.

In 2017, a total of 15,037 candidates enrolled for the Module 5 examination. 13,702 of them sat for the examination and 6,677 passed. The M5 e-version incorporated all the updates which were issued via “Supplementary Notes”. As there was no change in the edition, i.e. the 4th Edition, candidates who opted for the hard copy Study Text would have to check on the SCI Website for updates issued via “Supplementary Notes” before they sat for their examination. These “Supplementary Notes” were accessible via: https://www.scicollege.org.sg/Supp_Notes.asp and were to be read in conjunction with the 4th edition M5 Study Text. SCI issued the revised Mock paper for the Study Text on 9 November 2017.

The introduction of the e-Study Texts to replace the hard copies served to bring a number of benefi ts to SCI’s candidates: the e-version would enable the candidates to gain instant access to the most up-to-

25

date version of the Study Text; it would also allow them to leverage on technology to enhance their learning experience, as the e-version included useful functions, such as bookmarking, text highlighting, note taking and word searching, as well as direct links to websites.

For the Module 8 examination, a total of 3,150 candidates enrolled. 2,880 of them sat for the examination and 1,671 passed. SCI released the 5th Edition of Module 8 (English) on 14 December 2015, and the examination based on this Study Text was implemented on 14 March 2016. This Study Text was also made available in e-book format.

For the Module 8A examination, a total of 3,437 candidates enrolled. 3,254 of them sat for the examination and 2,495 passed. SCI released the 1st Edition of Module 8A (English) in e-book format in 2012.

As for the Module 9 examination, a total of 12,282 candidates enrolled. 11,218 of them sat for the examination and 6,125 passed. SCI released the 5th Edition of the Module 9 Study Text (English) on 1 July 2011, and the examination based on this Study Text was implemented on 1 September 2011. The 5th Edition Study Text was subsequently reprinted in October 2013.

For the Module 9A examination, a total of 8,346 candidates enrolled. 7,709 of them sat for the examination and 5,737 passed. SCI released the 1st Edition of Module 9A (English) in e-book format in 2012.

The pass rates for Modules 5, 8, 8A, 9 and 9A examinations were 48.7%, 58.0%, 76.7%, 54.6% and 74.4% respectively.

Candidates who have passed both CMFAS Modules 5 and 9 of the Capital Markets & Financial Advisory (CMFAS) examinations continued to be entitled to use the “Cert SCI (Life Insurance)” designation which was introduced in 2008.

26

Basic Competency Examination

The Basic Competency Examination (BCE) comprises two examination modules, viz English and Mathematics. The BCE tests potential financial adviser representatives on basic numeracy skills and their proficiency in the English Language.

In 2017, a total of four intakes (held in January, April, July and October 2017) were conducted for the BCE examinations with a total of 67 entries for both modules. 56 of them sat for the examinations; 11 passed the English module while 15 passed the Mathematics module. Of these, 12 candidates obtained the full BCE Certification.

The pass rates for the English and Mathematics modules were 42.3% and 50.0% respectively.

27

Health Insurance

In 2017, SCI also continued to administer the Health Insurance (HI) examination. A total of 9,321 candidates enrolled for the examination. 8,741 of them sat for the examination, and 5,600 passed. The HI examination was based on the 6th Edition of the Study Text which was released in 2016 with supplementary notes containing the latest updates. The new edition of the Study Text included an electronic version, e-Book and e-Mock Paper which were accessible by candidates after they registered online and paid the necessary fees.

The overall examination pass rate for 2017 was 64.1%.

Under the Notice No: MAS 117, since March 2002, all new life and general insurance intermediaries and company staff members would be required to obtain the SCI Health Insurance certifi cation before they could be involved in selling or providing sales advice on any health insurance products, including Medical Expense Insurance, Disability Income Insurance, Long-Term Care Insurance and Critical Illness Insurance.

However, those who provide advice on or arrange contracts of insurance in respect of Health Insurance products with only critical illness benefi ts and/or hospital income benefi ts would not need to comply with this requirement if they have obtained BCP and PGI passes in the Personal General Insurance Certifi cation or CMFAS Module 9: Life Insurance and Investment-Linked Policies examinations.

Since 2 January 2015, the HI Study Texts have been available in e-version which comes with a mock examination paper without additional charge. SCI will continue to allow candidates the choice of studying from a hard copy text or from the electronic study aids, in which SCI had invested resources to help candidates better prepare for their examinations. Candidates who opt for the hard copy Study Texts will have to check regularly on the SCI Website for updates before they sit for their examinations.

Candidates who have passed both the Health Insurance and CMFAS Modules 5: Rules and Regulations for Financial Advisory Services examinations would be entitled to use the “Cert SCI (Health Insurance)” designation introduced in 2008.

28

The Certifi cation in General Insurance (CGI) comprises three modules, namely:

• BCP Basic Insurance Concepts and Principles;

• PGI Personal General Insurance; and

• ComGI Commercial General Insurance.

In 2017, a total of 6,034 candidates enrolled for BCP examinations. 5,474 of them sat for the examinations, and 3,537 passed. The BCP examinations were based on the 5th Edition of the BCP Study Text (English) which was released in October 2016.

For PGI examinations, a total of 4,782 candidates enrolled. 4,439 of them sat for the examinations, and 3,324 passed. The PGI examinations were based on the 5th Edition of the PGI Study Text (English) which was released in April 2017.

Certifi cation In General Insurance

As for ComGI examinations, a total of 3,486 candidates enrolled. 3,131 of them sat for the examinations, and 1,690 passed. The ComGI examinations were based on the 5th Edition of the ComGI Study Text (English) which was released in April 2017.

Under the Notice No: MAS 211, MAS requires anyone (including general insurance intermediaries and employees of insurance companies and banks) who sells or provides sales advice on general insurance to possess the Personal General Insurance Certifi cation, and/or the Commercial General Insurance Certifi cation, depending on the lines of products sold or advised.

In 2017, a total of 3,257 candidates obtained the Certifi cation in Personal General Insurance while 1,660 obtained the Certifi cation in Commercial General Insurance.

The examination pass rates for BCP, PGI and ComGI were 64.6%, 74.9% and 54.0% respectively.

Candidates who have passed the BCP, PGI and ComGI Examinations will be entitled to use the “Cert SCI (General Insurance)” designation introduced in 2008.

29

Professional Examinations

� Certifi cate-Level Qualifi cations

Certifi cate in Reinsurance

The Certifi cate in Reinsurance (CRI) was introduced in 1994 to provide entry-level certifi cation for support staff members in the industry with basic knowledge in reinsurance principles and practices. From 2004, candidates could opt to obtain this certifi cation on a self-study basis.

In 2017, a total of 76 entries were received for the CRI examinations. 62 of them sat for the examinations, and 41 (or 66.1%) passed.

Since 2008, candidates who have passed the BCP and CRI examinations will be entitled to use the “Cert SCI (Reinsurance)” designation.

The 2nd Edition Study Text on “Reinsurance: Basic Concepts and Practices”, with Supplementary Notes issued in November 2017, was used for the CRI examination.

Introduced in 2008, the DGIRM/ADGIRM programme provides technical qualifi cations for insurance staff members working across all sectors of the industry. It also aims to provide candidates with in-depth and comprehensive technical knowledge of risks and insurance, insurance principles, products, underwriting principles and practice, claims management, insurance company operations, legal aspects of insurance, as well as business and economics.

The DGIRM/ADGIRM programme provides candidates with a fi rm grounding in insurance fundamentals and enables them to build towards advanced technical knowledge, thereby ensuring they have the means to function eff ectively in their respective job roles. In addition to being a valuable qualifi cation in its own right, the DGIRM programme is also a milestone in the attainment of ADGIRM, also developed and awarded by SCI.

In 2011, we introduced a new framework, and candidates who were partway through the programme were allowed until the end of 2012 to complete the relevant modules required. After 2012, those candidates who had partially completed the programme were transferred to the new framework. From March 2013, the programme was conducted under the new framework regime. Another change in March 2013 was the conversion of the “Pen & Paper” examination mode to the Computer Screen Examination (CSE) mode, which requires candidates to submit their answers directly onto an electronic answer script on the computer.

The DGIRM/ADGIRM programme is eligible for Recognition of Prior Learning (RPL) credits from The Chartered Insurance Institute (CII) and comprises a total of seven modules with four modules at the Diploma level and three modules at the Advanced Diploma level.

Proctoring Of CII Examinations

In 2017, SCI continued to proctor the CII examinations which were held in April and October. A total of 303 candidates registered and sat for the examinations that were organised (off -site) by SCI.

� Diploma-Level Qualifi cations

Diploma In General Insurance And Risk Management (DGIRM)

Advanced Diploma In General Insurance And Risk Management (ADGIRM)

30

Diploma Level – Dip SCI (GI & RM)

• DGI01 Legal Aspects of Insurance;

• DGI02 Insurance Company Operations;

• DGI03 Commercial Property and Business Interruption Underwriting; and

• DGI04 Liability Insurance Underwriting.

Advanced Diploma Level – Adv Dip SCI (GI & RM)

• ADGI05 Claims Management;

• ADGI06 Risk Management; and

• ADGI07 Business and Economics.

The DGIRM/ADGIRM examinations, conducted in English, were off ered in three series in 2017 (April, July and October). Overall, there were 398 examination entries and the average pass rate for the examinations was 61.7%. (Note: A total of four examination series were off ered in 2016.)

In 2017, a total of 43 candidates obtained the DGIRM qualifi cation while seven candidates attained their ADGIRM qualifi cation.

Designations Awarded

For designations awarded upon successful completion of the examination modules within the specifi ed time frame, the candidate will be entitled to use the following designations:

• Modules DGI01 to DGI04: Dip SCI (GI & RM)

• Modules DGI01 to DGI04 and ADGI05 to ADGI07: Adv Dip SCI (GI & RM)

Education Progression Pathways For Diploma In General Insurance And Risk Management Holders

1. Advanced Diploma In General Insurance And Risk Management

After obtaining the Dip SCI (GI & RM) designation, candidates can proceed to take the following three modules to obtain their Adv SCI (GI & RM) designation:

• ADGI05 Claims Management

• ADGI06 Risk Management

• ADGI07 Business And Economics

Dip SCI (GI & RM) holders who wish to also obtain specialised certifi cation qualifi cations in insurance claims and/or insurance data analytics may progress to the following certifi cation programmes:

31

2. Advanced Diploma Of The Chartered Institute Of Loss Adjusters

The Advanced Diploma of the Chartered Institute of Loss Adjusters (CILA Advanced Diploma) is recognised as a high-level claims qualification which provides candidates with the opportunity to specialise in the adjustment of a specific type of claim, from a choice of: Property (Domestic), Property (Commercial), Liability, Business Interruption or Aviation. The Advanced Diploma is perfect for those who wish to demonstrate the ability to handle more complex claims as part of their career progression.

Dip SCI (GI & RM) holders may obtain the Advanced Diploma of the Chartered Institute of Loss Adjusters by successfully completing two more CILA Advanced Diploma examinations:

• AD1 Application of the Principles of Insurance

• AD2 Adjustment of Claims

Dip SCI (GI & RM) holders are exempted from:

• DP1 The Principles of Insurance 1; and

• DP2 The Principles of Insurance 2.

Exemption fees are payable to CILA.

3. Associate in Insurance Data Analytics (AIDA™)

Candidates can accelerate their career by gaining knowledge of predictive modelling and big data for risk and insurance applications through the Associate in Insurance Data Analytics (AIDA™) programme offered by The Institutes, USA. Through this programme, the candidates will improve their understanding of advanced terminology and concepts to facilitate collaboration with data scientists in developing advanced analytical solutions.

Dip SCI (GI & RM) holders may obtain the Associate in Insurance Data Analytics by successfully completing the following two AIDA examinations:

• AIDA 181 Big Data Analytics for Risk and Insurance

• AIDA 182 Risk and Insurance Analysis Techniques

Dip SCI (GI & RM) holders are exempted from one elective course, viz. CPCU 520 Insurance Operations. Exemption fees are payable to The Institutes.

Additionally, to satisfy the Ethics requirement, the candidates must pass the 50-question online examination, viz. Ethics 311 Ethical Guidelines for Insurance Professionals.

SCI Qualification

Comparability To The Qualifications & Credit Framework (QCF) Of The United Kingdom (UK)

Diploma in General Insurance and Risk Management (DGIRM)

Is considered comparable to QCF Level 4 standard.

Advanced Diploma in General Insurance and Risk Management (ADGIRM)


Note: Regulated Qualifications Framework (RQF) has now been introduced in the UK, and the RQF levels are in line with the QCF levels in terms of comparability.

4. Benchmarked To UK Qualifications & Credit Framework (QCF)

32

Diploma in Life Insurance (DLI)

The Diploma in Life Insurance qualifi cation is developed and awarded by SCI. It is a technical and supervisory qualifi cation for life insurance staff working across all sectors of the life insurance industry, and provides a logical progression after obtaining the Cert SCI (Life Insurance) and Cert SCI (Health Insurance) designations.

This programme provides a good understanding of the various individual life, annuity and disability insurance products, including design, pricing, underwriting, claims, investments and other managerial operations of a life insurance company. Additionally, this programme presents an overview of risk management relating to insurance and retirement planning. It also provides an in-depth treatment of the legal aspects of life insurance, life insurance company operations, as well as the process and environment relating to fi nancial planning.

Developed to meet industry standards and compliance requirements, this programme provides the technical knowledge and skills needed to provide quality services to clients and to eff ectively manage a successful life insurance business. Furthermore, this programme can be a milestone towards the attainment of the Chartered Life Underwriter®/Singapore (CLU®/S) Programme, which is awarded by SCI under licence from The American College.

The DLI programme consists of the following fi ve modules:

DLI01 Individual Life Insurance

DLI02 Risk Management, Insurance and Retirement Planning

DLI03 Life Insurance Law

DLI04 Life Insurance Company Operations

DLI05 Financial Planning: Process and Environment

The DLI examinations were conducted on a monthly basis. In 2017, there was a total of 143 entries with an overall average pass rate of 48.6%.

12 candidates obtained the DLI qualifi cation in 2017.

Designatory Letters Awarded

Upon successful completion of the examination modules (Modules DLI01 to DLI05) within the specifi ed time frame, the candidate will be entitled to use the designatory letters: Dip SCI (LI).

33

Chartered Financial Consultant® / Singapore

The nine-course programme leading to the award of the Chartered Financial Consultant®/Singapore (ChFC®/S) professional designation continues to receive support from the fi nancial fraternity, as it is recognised as the qualifi cation that provides fi nancial planners in the Singapore fi nancial services industry with the comprehensive fi nancial planning knowledge to better assist their clients in this increasingly competitive fi eld. In particular, it allows candidates to explore in-depth practical applications of fi nancial planning, estate planning, and retirement planning concepts, including planning for business owners, professionals and wealthy clients. This is a self-study programme, except for ChFC08 and ChFC09 in which candidates must attend 14 hours and 2 hours of tutorials respectively. The ChFC®/S designation is awarded by SCI under licence from The American College, USA.

In 2017, 77 tutorial intakes were conducted for ChFC01 to ChFC07 for new entrants and AFC holders who were given exemption for the fi rst module. The tutorials were conducted by our marketing partner, Insurance and Financial Practitioners Association of Singapore (IFPAS). To be awarded the ChFC®/S qualifi cation, participants must pass all examinations and submit a written fi nancial plan as well as be assessed as “Competent” in a one-on-one practicum assessment.

In 2017, there were 2,945 examination entries. 104 participants completed the ChFC®/S programme and were awarded the ChFC®/S designation.

Note: Regulated Qualifi cations Framework (RQF) has now been introduced in the UK, and the RQF levels are in line with the QCF levels in terms of comparability.

SCI Qualifi cation

Comparability To The Qualifi cations & Credit Framework (QCF) Of The United Kingdom (UK)

Diploma in Life Insurance (DLI)


Progression Pathway

DLI holders may earn the Chartered Life Underwriter®/Singapore (CLU®/S) designation by completing the following three additional modules:

CLUS06 Investments

CLUS07 Planning for Business Owners and Professionals

CLUS08 Group Benefi ts and Health Insurance

From October 2017 onwards, designees of SCI’s Diploma in Life Insurance are eligible to apply for credits toward the FLMI designation. LOMA has determined that because of the rigour of SCI’s Diploma programme, LOMA can off er credits for LOMA280 and LOMA311 for DLI holders. Exemption fees are payable to LOMA.

Benchmarked To UK Qualifi cations & Credit Framework (QCF)

34

Chartered Life Underwriter® / Singapore

The eight-course programme leading to the award of the Chartered Life Underwriter®/Singapore (CLU®/S) professional designation focuses on the protection, accumulation, preservation and distribution of the economic values of human life. Candidates will also learn the most current fi nancial planning strategies for individuals and business owners. The CLU®/S designation is also awarded by SCI under licence from The American College, USA.

Professional Recognition By The Australian And New Zealand Institute Of Insurance And Finance (ANZIIF) Membership

ANZIIF members are recognised throughout the insurance and fi nancial services industry as professionals who are qualifi ed, knowledgeable and committed to excellence in their fi elds. SCI candidates who complete the following SCI qualifi cations/examinations will be eligible to apply for ANZIIF membership:

• Certifi cate in General Insurance (CGI) holders are eligible to apply for ANZIIF Allied membership;

• Certifi cate in Reinsurance (CRI) holders are eligible to apply for ANZIIF Allied membership;

• Diploma in Life Insurance holders are eligible to apply for ANZIIF Associate CIP membership;

• Diploma in General Insurance and Risk Management holders are eligible to apply for ANZIIF Associate CIP membership;

• Advanced Diploma in General Insurance and Risk Management holders are eligible to apply for ANZIIF Senior Associate CIP membership.

ANZIIF reviews its membership criteria, benefi ts and eligibility requirements from time to time. All decisions on election to membership will refl ect the requirements at the time of application.

CLU®/S Programme for ChFC®/S Graduates

ChFC®/S graduates are exempted from four modules and must pass all examinations for the following four

modules to be awarded the CLU®/S qualifi cation:

• Individual Life Insurance;

• Life Insurance Law;

• Life Insurance Company Operations; and

• Group Benefi ts and Health Insurance.

In 2017, there were 97 subject examination entries. 15 participants completed the CLU®/S programme and were awarded the CLU®/S designation.

35

There were a total of six new edition Study Texts released in 2017. During the year, SCI also released supplementary notes in April and October for any study text contents that were aff ected by changes in industry practices or rules and regulations.

New Study Texts Released In 2017

In April 2017, SCI released the 2nd Edition of the Reinsurance: Basic Concepts and Practices Study Text. The examination based on this new edition of the Study Text took eff ect from 3 July 2017. Both the hardcopy and e-version of the Study Text were made available to the examination candidates.

In line with the latest development in Singapore, the Study Text provides in one of its chapters a short section on the Monetary Authority of Singapore’s (MAS) contract certainty principles and guidance. That chapter ends with additional sections on claims management and reinsurance runoff to give students a more holistic view of Reinsurance Offi ce Practice and Procedure. The revised Study Text also includes additional notes on Reinsured’s Retention and how this relates to an overarching Reinsurance Management Strategy; Drawing Reinsurance Structures In Order To Enhance Their Fundamental Understanding Of Reinsurance Concepts; a step-by-step guide on sum insured allocation at risk inception and the loss recovery allocation in the event of a claim; basic pricing concept for treaty reinsurances; and Advanced type of Excess of Loss treaties such as Annual Aggregate Limit Excess of Loss, Top and Drop Excess of Loss and Clash cover.

Reinsurance: Basic Concepts and Practices

In February 2017, SCI released the 5th Edition of the Insurance Company Operations and the 3rd Edition of the Liability Insurance Underwriting Study Texts. The examination based on these new editions of the Study Text took eff ect from the 3 July 2017 series. The key changes made to the new edition of the DGI02 and DGI04 Study Texts include a new chapter on Digital Insurance for DGI02, to review the way technology and the digital age are changing insurance operations and shaping its future. The chapters on Motor Insurance (Third Party) and Management of Liability Claims from the previous edition were removed, thus enabling the contents of the DGI04 to be more focused on topics related to commercial liability insurance underwriting. In addition, the contents of the various chapters were updated where needed to refl ect the latest market practices and legislative positions. Sample policy wordings were also replaced and updated accordingly.

Diploma in General Insurance and Risk Management

36

In April 2017, SCI released a new 5th edition of the PGI Study Text. The examination based on the new edition of this Study Text took eff ect from 3 July 2017. Both the hardcopy and e-version of the Study Text were made available to the examination candidates. New sections on Foreign-Registered Vehicles And Foreign Motorists, Motor Insurance Fraud and Motor Accident Guide were added while enhancements were made to the sections on Policy Conditions Under Foreign Domestic Worker, Motor Claims Framework, Underwriting Considerations, and Car Pooling. A Sample Summary of Benefi ts on the respective products was also included to give candidates a better understanding of the products being marketed. The section on Takaful Insurance and Microinsurance was removed.

Personal General Insurance (PGI)

In April 2017, SCI released a new 5th edition of the ComGI Study Text. The examination based on the new edition of this Study Text took eff ect from 3 July 2017. Both the hardcopy and e-version of the Study Text were made available to the examination candidates. A new section on Specialist Liability Risks was added, focusing on Environmental Impairment Liability (EIL) Insurance Coverage, Terrorism Liability Insurance and Cyber Liability Insurance. New sections on Insurance of Lifts, Cranes & Handling Equipment, and a numerical example to illustrate the working of the fl eet rating method and the use of the computation or formula to compute the premium were also added. The section on Aviation Insurance was re-written to elaborate on the main lines of business pertaining to Aviation Insurance. The description of the various work passes was updated and the write-up on the conditions of the security board was amended so that it was in line with that on the Ministry of Manpower website.

Commercial General Insurance (ComGI)

In April 2017, SCI released the 2nd Edition of the Group Benefi ts and Health Insurance Study Text. The examination based on this new edition of the Study Text took eff ect from 3 July 2017.

A new chapter on Travel Insurance was written as it had become more common for staff members to require travel insurance while on business trips. New case studies were also added to various chapters to allow the candidates to better apply their knowledge. New sections on MediShield Life (to refl ect the latest developments in personal healthcare), Obamacare (to allow learners to appreciate what is happening to one of the world’s largest economies) and Reinsurance and Multinational pooling (to appreciate the facility of multinational pooling which is available to group insurance policies, but not to individual insurance policies) were also added to the new Study Text.

Chartered Life Underwriter/Singapore

37

STATISTICALINFORMATION

38

No. Level No. of Programmes No. of Intakes No. of Participants

I. Marine & Energy

1 Introductory 2 2 24

2 Intermediate 4 4 47

II. Reinsurance


2 Introductory – Intermediate 1 1 20


4 Intermediate – Advanced 1 1 13

III. Insurance Claims



IV. Property & Pecuniary



V. Casualty



VI. Insurance Legislation & Compliance


VII. Engineering


2 Advanced 2 2 13

VII. Employee Benefits


IX. Specialist


X. Life Insurance & Financial Planning


XI. Financial, Management & Soft Skills


Total 39 43 613

R2 Regional Routes Training Programmes


39



Total 44 44 873



2 Introductory - Intermediate 5 5 92


Total 16 24 670


No. Title No. of Programmes

No. of Intakes

No. of Participants

1 Certifiable Skills Programme on Basic Concepts & Principles In General Insurance 1 3 69

2 Certifiable Skills Programme on Personal General Insurance 1 3 62

3 Certifiable Skills Programme on Commercial General Insurance 1 3 79

4 Certificate in Health Insurance 1 1 11

5 Certificate in Motor Insurance for Motor Dealers 1 7 141

6 Certificate of Proficiency in Foreign Domestic Worker Insurance 1 5 98

7 Certificate of Proficiency in Foreign Worker Insurance 1 3 46

8 Certificate of Proficiency in Travel Insurance 1 4 46

9 Certificate in Financial Needs Analysis & Plan Construction (IBF Level 1) 1 1 15

Total 9 30 567


P2 Practice-Oriented Programmes(Continuing Professional Development [CPD] Programmes)

No. Title No. of Programmes

No. of Intakes

No. of Participants

1 Reading and Understanding an Insurer’s Financial Statements 1 N.A. 1

2 Basic Time Value of Money Concepts and Applications 1 N.A. 6

3 Advanced Time Value of Money Concepts and Applications 1 N.A. 1

4Structured products and Structured Investment-linked policies

1 N.A. 4

Total 4 N.A. 12


2013 2014 2015 2016 2017

2,451

2,467

2,606 2,598

2,735Technical Training Programmes EnrolmentFor The Past Five Years

40

Title Of Examinations 2016 2017 % Change Over 2016

M5 8,709 9,101 4.5%

M8 1,900 2,117 11.4%

M8A 2,379 2,746 15.4%

M9 7,476 7,998 7.0%

M9A 6,184 6,671 7.9%

HI 6,378 6,471 1.5%

BCP 4,149 4,536 9.3%

PGI 3,548 3,892 9.7%

ComGI 2,297 2,385 3.8%

BCE* 43 32 -25.6%

Total 43,063 45,949 6.7%

Enrolment (Number) By Headcounts

Title Of Examinations 2016 2017

M5 44.7 48.7

M8 57.6 58.0

M8A 76.2 76.7

M9 56.7 54.6

M9A 74.9 74.4

HI 68.2 64.1

BCP 62.7 64.6

PGI 77.4 74.9

ComGI 48.0 54.0

BCE* 50.5 46.4

*The BCE examinations comprised modules of English and Mathematics.

Pass Rate (%)Regulatory Examinations include:

• M5 - Rules And Regulations For Financial Advisory Services

• M8 - Collective Investment Schemes

• M8A - Collective Investment Schemes II

• M9 - Life Insurance And Investment- Linked Policies

• M9A - Life Insurance And Investment- Linked Policies II

• HI - Health Insurance

• BCP - Basic Insurance Concepts And Principles

• PGI - Personal General Insurance

• ComGI - Commercial General Insurance

• BCE - Basic Competency Examination

Regulatory & Professional Examinations


M5 15,263 15,037

M8 2,809 3,150

M8A 2,994 3,437

M9 11,265 12,282

M9A 7,740 8,346

HI 8,711 9,321

BCP 5,717 6,034

PGI 4,290 4,782

ComGI 3,611 3,486

BCE* 113 67

Total 62,513 65,942

Enrolment (Number) By Subject Entries

41

Professional Examinations include:

• CRI - Certificate in Reinsurance

• DGIRM - Diploma in General Insurance And Risk Management

• ADGIRM - Advanced Diploma in General Insurance And Risk Management

• DLI - Diploma in Life Insurance

• ChFC®/S - Chartered Financial Consultant®/ Singapore

• CLU®/S - Chartered Life Underwriter®/ Singapore


CRI 79 76

DGIRM/ADGIRM 535 398

DLI 163 143

ChFC/S & CLU/S 2,579 3,042

Total 3,356 3,659

Enrolment (Number) By Subject Entries


CRI 87.7 66.1

DGIRM/ADGIRM 51.1 61.7

DLI 58.5 48.6

ChFC/S & CLU/S 77.6 72.7

Pass Rate (%)

Title Of Examinations 2016 2017 % Change Over 2016

CRI 77 67 -13.0%

DGIRM/ADGIRM 273 203 -25.6%

DLI 57 55 -3.5%

ChFC/S & CLU/S 1,005 1,060 5.5%

Total 1,412 1,385 -1.9%

Enrolment (Number) By Headcounts


M5 86,105 92,782

M8 21,873 23,544

M8A 17,455 19,950

M9 63,349 69,474

M9A 39,542 45,279

HI 78,983 84,583

Cert in PGI 34,914 38,171

Cert in ComGI 18,232 19,892

CLI/PCE 73,863 73,863

ILP 28,884 28,884

FNA 7,588 7,603

CGI 17,341 18,920

CRI 469 510

CGIB 55 55

DLI 6,277 6,289

DLHU 25 25

DGIB 8 8

DGI 720 720

DipFP 644 644

DGIRM 181 224

ADGIRM 88 95

ChFC/S 1,464 1,568

CLU/S 460 475

Cumulative Number Of Candidates Having Obtained The Qualifications

42

2013 2014 2015 2016 2017

63,232

55,417

62,541

65,869

69,601

Enrolment For The Past Five Years Regulatory & Professional Examinations

60%Pass Rate (%)

70%

50%2013 2014 2015 2016 2017

Pass Rate For The Past Five YearsRegulatory & Professional Examinations

Regulatory Examinations Professional Examinations

63% 63% 60% 60% 61%

65% 66% 64% 65% 64%

FINANCIALINFORMATION

43

FINANCIALINFORMATION

44

45

Income 2015(S$)

2016(S$)

2017(S$)

% Increase / (Decrease)

Donations

• Tax Deductible*

• Non-Tax Deductible

32,595

-

-

-

-

-

-

-

Donations in Kind

• Tax Deductible

• Non-Tax Deductible

-

-

-

-

-

-

-

-

Grants / Sponsorships - - - -

Investment Income 56,680 88,520 101,912 15%

Investment Gains - - - -

Others 5,627,872 5,178,514 5,622,963 9%

Total Income 5,684,552 5,267,034 5,724,875 9%

Expenses 2015(S$)

2016(S$)

2017(S$)


Direct Fund-raising Expenses - - - -

Charitable Activities Expenses

• Local

• Overseas

-

-

-

-

-

-

-

-

Other Operating & Administration Expenses 4,035,912 4,235,633 4,446,238 5%

Others - Interest on term loan - - - -

Total Expenditure 4,035,912 4,235,633 4,446,238 5%

Surplus/(Deficit) 1,648,640 1,031,401 1,278,637 24%

Income

Expenses

46

Balance Sheet 2015(S$)

2016 (S$)

2017(S$)


ASSETS

Land and Buildings 9,682,770 9,397,981 9,113,194 -3%

Other Tangible Assets 714,800 927,971 921,396 -1%

Investments - - - -

Inventories 27,994 32,034 19,894 -38%

Accounts Receivable 308,666 294,980 373,428 27%

Cash & Deposits 13,811,625 13,479,334 15,666,474 16%

Others - Deposits and Prepayments 63,575 192,051 220,887 15%

Total Assets 24,609,430 24,324,351 26,315,273 8%

FUNDS

Unrestricted Fund 18,130,620 19,162,021 20,440,658 7%

Restricted Fund (Building Fund) 4,368,524 4,083,735 3,798,948 -7%

Endowment Fund - - - -

Total Funds 22,499,144 23,245,756 24,239,606 4%

LIABILITIES

Long-Term Liabilities - - - -

Current Liabilities 2,110,286 1,078,595 2,075,667 92%

Total Liabilities 2,110,286 1,078,595 2,075,667 92%

Total Funds and Liabilities 24,609,430 24,324,351 26,315,273 8%

Other Information 2015 2016 2017 % Increase / (Decrease)

Donations / Grants and Sponsorships given to other Charities

- - - -

No. of Employees < at 31 Dec > 41 37 37 0%

Total Employee Costs S$3,186,383 S$3,337,855 S$3,368,415 1%

Fund-raising efficiency

Ratio of reserves to annual operating expenditure

4.49 4.52 4.60 -

Total Related Party Transactions S$4,000 S$4,800 S$4,800 0%

* Tax Deductible Donations are presented in the Total Comprehensive Income for Building Fund in the audited financial statements of SCI and do not form part of the Total Income of SCI.

Balance Sheet

Other Information

47

Policies

Funding Sources

SCI is financially supported by income from the provision of professional training and education for the insurance and related financial services industry.

Reserves Policy

The reserves of SCI, as reflected under Unrestricted Fund, comprise the Accumulated Fund of $20,334,387 and Scholarship Fund of $106,271. SCI regularly reviews and manages its fund structure so as to ensure optimal fund structure. The ratio of reserves to SCI’s annual operating expenditure was 4.60 for 2017.

Memberships

Only Ordinary Members of its four founding Associations: the General Insurance Association of Singapore (GIA), the Life Insurance Association, Singapore (LIA), the Singapore Insurance Brokers’ Association (SIBA) and the Singapore Reinsurers’ Association (SRA) are eligible to be admitted as SCI member companies.

Staffing

As at 31 December 2017, there were 37 full-time staff and 10 contract staff employed by SCI.

Review Of Financial State And Explanation Of Major Financial Transactions

For the financial year ended 31 December 2017, SCI made a total comprehensive income for accumulated funds of $1,278,637.

Review And Changes In The Policy

There were no changes in the policy.

Explanation Of The Purpose For Which The Charity’s Assets Are Held

SCI holds one main asset, i.e. our office unit. The property is held for our own use, i.e. for the purpose of conducting examinations and training programmes as well as other events such as talks/seminars.

Future Plans And Commitments

SCI will continue to conduct professional training and education for the insurance and related financial services industry.

ANNEX TOTECHNICALTRAININGPROGRAMMES

48

49

No. Title No. of Intake (s) Lecturer(s)/Speaker(s)

Duration Per Intake

(hours)

Total Duration (hours)

No. of Participants

I. MARINE & ENERGY

1 Marine Hull Insurance Underwriting NEW 1 Mark A Stevens 7 7 11

2 Marine Insurance - A Foundation Workshop 1 Stephen Harris 14 14 11

3 Initial Introduction To Marine Hull, Cargo, Liability Insurance And P&I 1 Stephen Harris 14 14 13

4 Underwriting & Claims Aspects Of Freight Forwarders’ & Carrier’s Liability Insurance NEW 1 Colin Lincoln 7 7 12

5 Underwriting Project Cargo Insurance NEW 1 Said Khan 14 14 18

6 Underwriting Considerations In The Offshore Energy Insurance Sector NEW 1 Mark A Stevens 7 7 6

II. REINSURANCE

1 The “Nuts & Bolts” of Treaty Reinsurance: Proportional Treaty Reinsurance 2 Peter Cave 14 28 47

2 The “Nuts & Bolts” Of Treaty Reinsurance: Non-Proportional Treaty Reinsurance 2 Peter Cave 21 42 42

3 Reinsurance Contract Treaty Wordings 2 Peter Cave 14 28 23

4 Drafting Reinsurance Contracts & Clauses NEW 1 Shiva Iyer 14 14 16

5 Life Reinsurance 1 Frank Matthew McInerney 7 7 14

6 The Art Of Reinsurance: An Introduction To Reinsurance 1 Lee Soo Kwan &

Nicole Ng 21 21 20

7 Technical Reinsurance Accounts 1 Peter Cave 21 21 21

8 Reinsurance PLUS 1 Peter Cave 21 21 13

III. INSURANCE CLAIMS

1 Customer Service In Claims - 1st Intake 2017 1 Tan Soon Huat 7 7 8

2 Insights Into Claim Fraud 1 Chan Hwee Seng 7 7 13

3 Insurance Contract Law & Its Implications For Claims 1 Christopher Parsons 14 14 13

4 Workshop In Claims Practice: Property, Liability & Professional Indemnity Claims Handling 1 Chan Hwee Seng 14 14 17

IV. PROPERTY & PECUNIARY

1 Property Insurance Underwriting & Claims NEW 1 Perry Tan 7 7 20

2 Property Business Interruption Insurance - Back To Fundamentals 1 Lee Soo Kwan 21 21 8

3 Financial Lines Basics 1 Noel Tan & Arati Varma 14 14 7

V. CASUALTY

1 Professional Indemnity Insurance:Back To Fundamentals NEW 1 Perry Tan 7 7 7

2 Underwriting Directors’ & Officers’ Liability Insurance & Professional Indemnity Insurance 1 Arati Varma & Ronak

Shah 14 14 14

3 Advanced Liability Insurance:Underwriting & Claims Aspects NEW 1 Christopher Parsons 14 14 13

4 Underwriting & Claims Aspects Of Commercial General Liability Insurance NEW 1 Joseph Kung 14 14 22

5 Insights Into Motor Insurance Claims NEW 1 Leslie Wong 7 7 21

R2 Regional Routes Programmes

50


Duration Per Intake

(hours)


No. of Participants

VI. INSURANCE LEGISLATION & COMPLIANCE

1 A Practical Understanding of RBC Regulatory Framework For Singapore Insurers (Life & Non-Life) 1 Raymond Cheung &

Lee Wai Yi 14 14 26

VII. ENGINEERING

1Practical Understanding Of Engineering & Construction Risks & Technology (Incorporating Site Visit) - 1st Intake 2017

2 Poobalan Mahalingam 14 28 28

2 A Practical Understanding Of CAR & EAR Insurance - 1st Intake 2017 1 Poobalan Mahalingam 14 14 18

3 Practical Issues In CAR & EAR Policies 1 Poobalan Mahalingam 14 14 7

4 Claims Aspects Of Engineering & Construction Insurance - A Residential Programme NEW 1 Poobalan Mahalingam 21 21 10

5 Industrial All Risks & MB - Underwriting Issues & BI Claims 1 Poobalan Mahalingam 14 14 9

6 Practical Issues In Project Delays & Interruption In Construction Projects & Engineering Risks NEW 1 Poobalan Mahalingam 7 7 6

VIII. EMPLOYEE BENEFITS

1 The “Nuts & Bolts” Of Group Employee Benefits Insurance NEW 1 Janet Loke 14 14 20

IX. SPECIALIST

1 Social Media & Cyber Risk Insurance 1 Noel Tan 7 7 14

2 Specialist Liability Risks: Terrorism & Contingency Insurance 1 Simon Wilmot-Smith 4 4 17

X. LIFE INSURANCE & FINANCIAL PLANNING

1 Trustworthy Selling - Professional 1 Jim Kee 28 28 8

XI. FINANCIAL, MANAGEMENT & SOFT SKILLS

1 Impactful Presentation Techniques 1 Kevin Ryan 7 7 5

2 Insurance Accounting Principles & Legislation 1 Penny Ying 7 7 18

Total 564 613

51

P2 Practice-Oriented Programmes (CPD Programmes)


Duration Per Intake

(hours)


No. of Participants

1 Policy Wordings – Bond Insurance 1 Poobalan Mahalingam 3 3 8

2 Private Motor Insurance: The Essentials 1 Perry Tan 3 3 14

3 The A-Z On Motor Insurance From A Sales & Customer Service Perspective – 1st Intake 1 Leslie Wong 3 3 23

4 Work Injury Compensation Act (WICA) Claims 1 Michael Eu Hai Meng 3 3 12

5 Key Policy Wordings - Fire Insurance & Theft Insurance NEW 1 Perry Tan 3 3 9

6 A Comparison Study Between Fire Insurance & IAR Coverage 1 Poobalan Mahalingam 3 3 17

7 Retirement Planning & You 1 Charles Tiong 3 3 7

8 Negotiating Effectively NEW 1 Poobalan Mahalingam 3 3 11

9 Retirement Planning: A Health Insurance Perspective 1 Shirley Tan 3 3 11

10 Business Insurance Planning - A Case Study Approach 1 Sam Lim 3 3 22

11 Policy Coverage - Travel & Home Insurance NEW 1 Charles Tiong 3 3 28

12 Policy Coverage - Products Liability Insurance NEW 1 Joseph Kung 3 3 29

13 Communications Skills For Conflict Resolution 1 Poobalan Mahalingam 3 3 22

14 Civil Engineering Completed Risks (CECR) Insurance 1 Poobalan Mahalingam 3 3 7

15 A Simplified Comparison Study Between CAR & EAR Insurances NEW 1 Poobalan Mahalingam 3 3 14

16 The A-Z On Motor Insurance From A Sales & Customer Service Perspective – 2nd Intake 1 Leslie Wong 3 3 32

17 Fire Insurance With Special Focus On Extraneous Perils NEW 1 Poobalan Mahalingam 3 3 22

18 Good Customer Service In General Insurance 1 Perry Tan 3 3 18

19 The Basics Of Liability: Legal Liabilities With Special Focus on Contractors’ All Risks Insurance 1 Poobalan Mahalingam 3 3 20

20 Apply Basic Negotiation Skills & Techniques 1 Pat Mun Fai 7 7 14

21 Introduction to Professional Indemnity Insurance NEW 1 Poobalan Mahalingam 3 3 29

22 Financial Planning & You NEW 1 Charles Tiong 3 3 18

23 Travel Insurance NEW 1 Charles Tiong 3 3 19

24 Business Interruption & Project Delay Insurance (Incorporating BI, ALOP, LOP & DSU) NEW 1 Poobalan Mahalingam 3 3 26

25 Deliver Impactful Presentations 1 Thomas Lee 16 16 8

26 Medical Insurance Planning For Clients NEW 1 Charles Tiong 3 3 13

27 Marine Hull Insurance NEW 1 Colin Lincoln 1 1 31

28 Goods-In-Transit Insurance NEW 1 Colin Lincoln 1 1 32

29 A Practical Understanding of Wills, Lasting Power of Attorney and Legacy Planning in Singapore 1 Allen Lim 2 2 17

30 Coach for Service Performances 1 Pat Mun Fai 15 15 6

52


Duration Per Intake

(hours)


No. of Participants

31 A Practical Understanding of Commercial All Risks & Theft Insurance 1 Perry Tan 3 3 29

32 Packaging Group Benefits Insurance 1 Allen Lim 3 3 29

33 A Practical Understanding of Personal Accident & Foreign Domestic Worker Insurance NEW 1 Charles Tiong 3 3 30

34 Managing Your Client’s Corporate Insurance Programme NEW 1 Perry Tan 3 3 30

35 Key Underwriting Features - Liability Insurance NEW 1 Perry Tan 3 3 30

36 The A-Z On Motor Insurance From A Sales & Customer Service Perspective – 3rd Intake 1 Leslie Wong 3 3 20

37 Travel Insurance - The Essentials 1 Charles Tiong 3 3 17

38 Policy Coverage: Work Injury Compensation Insurance 1 Perry Tan 3 3 29

39 Practical Aspects of Work Injury Compensation Insurance 1 Uttam Kripalani 3 3 21

40 Introductory Course to General Insurance Principles and Concepts 1 Graham Michael

Spriggs 11 11 17

41 Introductory Course to Personal General Insurance Products 1 Graham Michael

Spriggs 14 14 14

42 Introductory Course to Commercial General Insurance Products 1 Graham Michael

Spriggs 18 18 29

43 Introductory Course to Health Insurance 1 Shirley Tan 18 18 19

44 Reinsurance: Basic Concepts and Practices 1 Nicole Ng 14 14 20

Total 216 873

53


Duration Per Intake

(hours)


No. of Participants

1 Contract Certainty (Reinsurance) Seminar 8 Nick Cochrane 2 16 73

2 Life & Medical Insurance Training Programme - A Modular Approach (Module A: Claims) 1

Ms Anita Choong, Dr Chetan Nitnawre & Dr

Sonal Bagul14 14 16

3 Life & Medical Insurance Training Programme - A Modular Approach (Module A: Underwriting) 1 Dr Chetan Nitnawre &

Dr Neoh Wee Keong 18 18 20

4 Life & Medical Insurance Training Programme - A Modular Approach (Module B: Claims) 1 Dr Chetan Nitnawre &

Dr Sonal Bagul 14 14 18

5 Life & Medical Insurance Training Programme - A Modular Approach (Module B: Underwriting) 1 Dr Neoh Wee Keong &

Ms Anita Choong 18 18 20

6 Life & Medical Insurance Training Programme - A Modular Approach (Module C: Underwriting) 1 Dr Chetan Nitnawre &

Dr Sonal Bagul 18 18 18

7 The Art & Science of Influencing & Negotiating 2 Kevin Ryan 14 28 31

8 Business Insurance Workshop 1 Sam Lim 16 16 19

9 A Practical Understanding of Personal Accident & Foreign Domestic Worker Insurance 1 Perry Tan 3 3 20

10 Business Opportunities in Construction Insurance in Relation to New & Upcoming Projects in Singapore 1 Poobalan Mahalingam 3 3 26

11 Life Reinsurance 1 Frank Matthew McInerney 3 3 26

12 Underwriting & Claims Aspects Of Fire & Extraneous Perils Insurance 1 Perry Tan 7 7 15

13 A Practical Understanding Of Motor Insurance 1 Perry Tan 7 7 15

14 Professional Indemnity Insurance: Back To Fundamentals 1 Perry Tan 7 7 15

15 Digital Marketing In Insurance 1 Amer Iqbal 7 7 107

16

The Regulatory and Supervisory Framework For Insurers in Singapore

1

Mimi Ho

2 2 203Structure and Development of the Singapore Insurance Market and Talent Development Perry Tan

Total 181 670

Customised Training Solutions (CTS) Programmes

54


Duration Per Intake

(hours)


No. of Participants

1 Certifiable Skills Programme on Basic Concepts & Principles In General Insurance (BCP) 3 Graham Spriggs /

Perry Tan 13 39 69

2 Certifiable Skills Programme on Personal General Insurance (PGI) 3 Graham Spriggs /

Perry Tan 13 39 62

3 Certifiable Skills Programme on Commercial General Insurance (ComGI) 3 Graham Spriggs /

Perry Tan 20 60 79

4 Certificate in Health Insurance (CHI) 1 Shirley Tan 21 21 11

5 Certificate in Motor Insurance for Motor Dealers 7 Perry Tan 10 70 141

6 Certificate of Proficiency in Foreign Domestic Worker Insurance 5 Perry Tan 7 35 98

7 Certificate of Proficiency in Foreign Worker Insurance 3 Perry Tan 7 21 46

8 Certificate of Proficiency in Travel Insurance 4 Perry Tan 7 28 46

9 Certificate in Financial Needs Analysis & Plan Construction (IBF Level 1) 1 Sam Lim 42 42 15

Total 355 567



Duration Per Intake

(hours)


No. of Participants

1 Reading and Understanding an Insurer’s Financial Statements N.A. N.A. N.A. 5 1

2 Basic Time Value of Money Concepts and Applications N.A. N.A. N.A. 3 6

3 Advanced Time Value of Money Concepts and Applications N.A. N.A. N.A. 4 1

4 Structured products and Structured Investment-linked policies N.A. N.A. N.A. 6 4

Total 18 12


9 Temasek Boulevard #14-01/02/03Suntec Tower Two, Singapore 038989

Tel: (+65) 6221 2336 Fax: (+65) 6220 6684Website: www.scicollege.org.sg

Singapore College of InsuranceCPE Registration No: 199408491M

Period of Registration: From 26 September 2015 to 25 September 2019

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