CONTINUING PROFESSIONAL DEVELOPMENT PROGRAMME (III-CPD)

Aims & Objectives of CPD Program:

CPD Program is a holistic program designed to benefit III's Certificants, the insurance industry and the Indian society, which has very low level of insurance awareness.

Benefits for Certificants of III: CPD Program is designed to help and motivate III Certificants -

Ø  to update their technical knowledge and skills to become multi-skilled professionals to meet the challenges of today's dynamic industry,

Ø  to keep abreast with changes in economic, regulatory and legal environment in India and international community,

Ø  to make qualitative changes in the industry by integrating their knowledge and operational experience with their areas of interest and expertise,

Ø  to develop their analytical skills and conduct research on topics of their interest,

Ø  to make them better prepared for periodical appraisals in their organizations for career development.

Benefits for Insurers: CPD Program with its inbuilt recognition and reward system, would help Insurers to make a qualitative change in the work force. CPD can help -

Ø  to ensure availability of academically sound, technically qualified professionals suitable for each operations of the company,

Ø  to enable company to design management development programs dove-tailed with III-CPD Program to train staff,

Ø  to undertake research for various operations of the company and identify critical areas requiring short term and long term changes in  policies and practices,

Ø  to develop a sound objective appraisal system for recognition and reward,

Ø  to motivate employees to learn micro and macro changes in compliance environment globally,

Benefits for Society: "Regaining the trust" of people in need for financial solutions to their problems has been primary concern of Indian insurance industry, which has very low of levels of financial literacy.

Ø  CPD Program will create a vibrant environment and enthusiasm amongst all stakeholders to help them regain the trust of the Indian market spanning across the vast geography, multiple languages and cultures.

Ø  CPD would help in providing sufficient number of professionals to improve the reach of financial literacy programs launched by financial institutions and insurance companies, ensuring thereby due respect for the insurance profession.

Eligibility: III-CPD has been designed keeping in mind Members who are less than 60 years of age. However, Members above 60 are also welcome to participate.

Accumulation of Credits: CPD Awards will be of annual validity and candidates have to accumulate a minimum of 100 credits per year for 3 consecutive years. Thereafter, renewals will be on accumulation of 300 credits in every three-year period, subject to the candidate acquiring a minimum of 50 credits per year.

Publication of CPD Credits/ Awards: A list of CPD Awardees and the Credits claimed/ earned will be maintained by III and made available on III's website so that the same is available for verification by both members and/or all stakeholders.

Governance: CPD Programme is under the overall directions and guidance of CPD Steering Committee (CPDSC). CPD is implemented by III's CPD Department under the guidance and supervision of CPD Evaluation Committee (CPDEC).

Working of CPD Programme: Implementation level details of III-CPD are given below:

 ·      All CPD activity is web-based.

·      CPD period is from 1^st April to 31st March. The present CPD period ends on 31^st March 2013.

·      Members have to register at III website giving their Name/ Diploma Number/ other credentials.

·      On the CPD Activity Page provided, Members have to state CPD activity completed during the CPD period with relevant details.

·      Members have to state CPD activity proposed during the CPD period with relevant details.

·      Based on the statement made by Members, ‘CPD Credits Claimed' will be displayed on the website.

·      On approval/ validation by CPDEC, the activity/ points will be shown as ‘CPD Credits Earned'.

·      For Pre-approved CPD activity (e.g. Training programmes of Institute of Actuaries of India/ National Insurance Academy/ Indian Institute of Risk Management), applicable credits will be notified on III website.

·      Requests for Pre-approval of CPD Activity may be sent by email to <cpd@iii.org.in>. Credits for CPD activity will be added to Credits Earned if approved by CPDEC.

·      Approval of CPD Activity will be generally guided by 4 watchwords - relevance, quality, credibility & popularity.

Grievance Redressal: III's CPD Programme is a matter of evaluating the quality of professional activity done during a particular period as per the evaluation/ judgment of fellow/ senior professionals based on such standards they deem appropriate using their professional wisdom; and will not be the subject matter of litigation.

Powers to make rules: III retains its rights to change/ modify/ cancel the CPD Programme at its discretion.

Fees: III-CPD is at present a free service to the industry. However, III retains its right to charge fees for registering the credits accumulated/ renewals/ carry forward of credits etc. at its discretion in future after notifying the same.

Disclaimer: "III CPD Programme'/ ‘Award of CPD Credits' is an activity instituted by Insurance Institute of India (III) for furtherance of professional standards of the insurance industry. Insurers/ other stakeholders are at liberty to consider CPD Credits for recognizing professional activities of their employees/ job applicants and III has no role whatsoever in such matters."

 III-CPD Credit Accrual Plan: Accrual Plan for Post-Associateship/ Post-Fellowship activity is as follows:

 Credits under the 5 CPD Activities have to be acquired as follows:  

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