Overview
The IFMP Bancassurance Certification is an internationally recognised professional programme designed to develop the knowledge and practical skills required to successfully distribute insurance products through the banking channel. The programme provides a comprehensive understanding of the Bancassurance business model, insurance fundamentals, life and general insurance products, risk management, customer needs analysis, ethical selling, and the regulatory framework governing insurance distribution.
Designed for banking professionals, relationship managers, customer advisors, and insurance sales personnel, the programme equips learners to identify customer protection needs, recommend appropriate insurance solutions, and deliver professional, customer-centric service throughout the insurance sales process. Participants also gain a thorough understanding of underwriting, policy servicing, claims handling, and the collaborative relationship between banks and insurance companies in delivering integrated financial protection solutions.
Upon successful completion, learners will be well prepared to confidently market, distribute, and support insurance products through the Bancassurance channel while adhering to industry best practices, ethical standards, and regulatory requirements.
Awarding Body
This certification is awarded by the Institute of Financial Markets of Pakistan (IFMP), a leading professional body dedicated to advancing excellence in financial markets, banking, insurance and capital markets education through internationally recognised professional qualifications.
While the certification follows IFMP’s professional standards, selected areas of the programme - including regulatory requirements, market practices and related content - have been customised to reflect the Kenyan bancassurance environment.
The final certification examination is conducted through the IFMP Learning Management System (LMS), ensuring that all successful candidates meet the Institute’s assessment and certification standards.
Learning Outcomes
Upon successful completion of this programme, learners will be able to:
- Explain the structure of the insurance industry and the Bancassurance distribution model.
- Evaluate the features and benefits of major life and general insurance products.
- Apply fundamental risk management principles in insurance advisory and sales.
- Assess customers' insurance needs and recommend suitable protection solutions.
- Demonstrate an understanding of underwriting, policy administration, and claims processes.
- Apply ethical principles and regulatory requirements in Bancassurance operations.
- Deliver professional, customer-focused insurance sales and service through banking channels.
- Promote insurance solutions confidently while supporting business growth and enhancing customer value.
Course Outline
- 1.1: Course Objectives
- 1.2: Learning Aids Contained in this Course
- 2.1: Understand concept of insurance
- 2.2: Marketing and Common Distribution Channels
- 2.3: Bancassurance or Bank Insurance Model (BIM)
- 3.1: Flexible Policies
- 3.2: Endowment Insurance
- 3.3: Whole Life Insurance
- 3.4: Term Insurance
- 3.5: Riders
- 3.6: Return on Policies
- 3.7: Unit-Linking
- 4.1: Principles of General Insurance
- 4.2: Classification of General Insurance
- 5.1: Managing Risk
- 5.2: Law of Large Numbers
- 5.3: Principle of Insurable Interest
- 5.4: Insurable Risks
- 5.5: Principle of Indemnity
- 6.1: Sales Process of Insurance
- 6.2: Sales Cycle
- 6.3: Customer Service
- 6.4: Delivering and Servicing the Policy
- 6.5: Underwriting Process
- 6.6: Claims
- 7.1: Insurance Act
- 7.2: Regulations to the Insurers
- 7.3: Ethical Issues in Insurance Selling
- 7.4: Association of Kenya Insurers (AKI)
- 7.5: Reinsurance
- 7.6: Law Governing Insurance Distributor/Agent's Role
- 7.7: Contractual Provision
- 7.8: The Insurance (Bancassurance) Regulations, 2020
Price: US$365
Course Features
- Modules 8
- Duration 8 Weeks
- Content Type Text & media
- Assessment Yes
- Pass Percentage 70%
- Certificate Yes
