PROFESSIONAL
ADVANCEMENT
MANAGEMENT DIPLOMA IN INSURANCE (MDI)
MAINTAIN YOUR MOMENTUM AND TAKE THE NEXT STEP
‘I found the MDI an excellent qualification
both in terms of helping me undertake
my role day-to-day while also helping me
to make real progress towards the ACII
qualification. The support provided by the III
was second to none in terms of the quality
of the course material, availability of lecture
notes and the selection of past papers.’
CATHAL LYNCH ACII,
HEAD OF INJURY AND
LIABILITY CLAIMS, RSA
CONTENTS
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2
3
4
WHY PROCEED TO ADVANCED QUALIFICATIONS?
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1.1
THEY SUPPORT YOUR CAREER DEVELOPMENT
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1.2 THEY’RE WHAT YOUR CUSTOMERS EXPECT
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1.3 THEY’RE WHAT EMPLOYERS LOOK FOR
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MOVING UP: MANAGEMENT DIPLOMA IN INSURANCE (MDI)
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2.1 KEY FACTS AND OVERVIEW
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2.2 QUALIFICATION STRUCTURE
6
2.3 LEARNING OUTCOMES
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NEXT STEP: ADVANCED DIPLOMA IN INSURANCE (ACII)
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3.1 7
KEY FACTS AND OVERVIEW
3.2CREDITS
7
3.3 LEARN MORE
7
STEPS TO SUCCESS
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4.1
SUPPORTS AVAILABLE
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4.2 TALK TO US
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HOW TO REGISTER
PROFESSIONAL ADVANCEMENT
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1
III QUALIFICATION FRAMEWORK
APA
CIP
MDI
ACII
FCII
ACHIEVING AND
MAINTAINING
PROFESSIONAL
QUALIFICATIONS IS THE
BEST WAY OF ENSURING
YOUR COMPLIANCE AND
COMPETITIVENESS IN A
VALUE DRIVEN MARKET.
2
www.iii.ie
FELLOWSHIP OF THE CII
FCII
The highest standard and international recognition
of professional excellence for those working in the
insurance industry.
ADVANCED DIPLOMA IN INSURANCE
ACII
The CII’s Advanced Diploma in Insurance is an advanced
professional qualification for insurance staff working across
all sectors of the industry.
MANAGEMENT DIPLOMA IN INSURANCE
MDI
As an advanced qualification, the Management Diploma in Insurance (MDI)
meets industry demand for more specialised insurance expertise and greater
business acumen at management level.
MDI modules also allow you to accumulate CII credits that count towards
the ACII qualification.
PROFESSIONAL DIPLOMA IN INSURANCE
CIP
While the APA is the entry level and minimum requirement for compliance, the
Professional Diploma in Insurance (CIP) is the benchmark qualification and the
expected standard across the industry.
The modules you study for the APA, make up 50% of this qualification, so once
you’ve completed it, just three more modules stand between you and the industry
standard.
PROFESSIONAL CERTIFICATE IN INSURANCE
APA
This is the entry level qualification on the III’s framework and is ideal for New Entrants to
secure their regulatory license and meet the requirements of the Central Bank’s MCC.
It’s also a good place for Grandfathered Persons to build their exam confidence and
achieve a qualification.
PROFESSIONAL ADVANCEMENT
3
1 WHY PROCEED TO
ADVANCED QUALIFICATIONS?
1.1THEY SUPPORT YOUR CAREER DEVELOPMENT
As a Qualified Person you have set yourself
on a path of professional development that is
central to achieving career advancement and
capitalising on job opportunities.
balance the challenges of studying while you
work, so why not maintain your momentum
and move up to the next level with the III’s
Management Diploma in Insurance (MDI).
Standing out in a competitive market can
be tricky, however, achieving a higher level
of technical skill than the expected industry
standard, demonstrates your appetite for
career progression.
It may not be on your radar at this stage
of your career, but it’s good to know that
while completing a qualification that will
improve your current career prospects, you
are simultaneously investing in your future
professional development.
Your achievements to date show that you
recognise the value of technical knowledge in
your career. You’ve clearly worked out how to
1.2 THEY’RE WHAT YOUR CUSTOMERS EXPECT
From plumbers to dentists, when you
call a professional you expect a qualified,
knowledgeable and competent person to look
after you. It gives you peace of mind. Your
customers feel the same.
When customers have cause to engage with
people at a managerial or senior executive
level, it is usually because something has gone
wrong or their case is complicated. In these
cases customers expect – and deserve – the
reassurance that the person they’re dealing
with has the knowledge and skill to assist
them effectively and efficiently.
Continuing to add to your technical knowledge
through advanced qualifications is the
best way of delivering the highest possible
standards of customer care.
1.3 THEY’RE WHAT EMPLOYERS LOOK FOR
The III’s Management Diploma in Insurance
(MDI) was developed in direct response
to industry demand for a qualification that
would advance the knowledge and skills of
CIP holders.
Following consultation with Senior Executives
across the insurance sector, we developed
Irish versions of CII Advanced Diploma
4
in Insurance (ACII) modules, specifically
authored for relevance to the Irish legislative
and regulatory landscape.
Advanced qualifications differentiate you as
an ambitious and talented individual, while
demonstrating your commitment to personal
learning and development.
www.iii.ie
2 MOVING UP: MANAGEMENT
DIPLOMA IN INSURANCE (MDI)
As an advanced qualification, the Management
Diploma in Insurance (MDI) meets industry
demand for more in-depth and specialised
insurance expertise, as well as greater
business acumen at management level.
MDI modules also allow you to accumulate
210 Chartered Insurance Institute (CII) credits
that count towards the total 290 required
for the Advanced Diploma in Insurance
(ACII) qualification.
2.1 KEY FACTS AND OVERVIEW
Qualification: Management Diploma in Insurance
Designation: MDI
Modules: 5 (3 compulsory + 2 optional based on specialised area of interest)
Exam sittings: May and November
Study: 125-150 hours per module
Fees: €545 per module
Designation
Exemptions
The term designation refers to the letters
graduates are entitled to use after their
name following successful completion of a
qualification i.e. Jane Smith, MDI.
If you have completed courses or
qualifications in the past that may have
contained content relevant to some III
qualifications, you may be entitled to an
exemption or recognition of this prior learning.
The designation must be maintained
through CPD in line with the requirements
of the Central Bank of Ireland’s Minimum
Competency Code 2011 (MCC).
Qualification
The Management Diploma in Insurance (MDI)
qualification provides:
• an enhanced understanding of insurance,
technical and business concepts,
• a natural progression from the CIP
that advances technical, business and
product knowledge,
• the opportunity to accumulate up to 210
CII credits that can contribute to the 290
required for the Advanced Diploma in
Insurance (ACII),
Consult the III’s exemption policy online at
www.iii.ie/qualifications for detailed information
on all exemptions available and the application
process involved. Alternatively call our
Member Services team on 01 645 6670 for
more information.
Completed CII exams
If you registered for exams directly with the
CII in the past, please advise our membership
team. This is to ensure that you don’t register
for any MDI modules which correspond to CII
modules you have already completed.
You can contact our Member Services team
on memberservices@iii.ie or 01 645 6670
to discuss.
• the option of tailoring the qualification to
specific career requirements.
PROFESSIONAL ADVANCEMENT
5
2.2 QUALIFICATION STRUCTURE
You must complete MDI-01: Insurance and
Business Law, MDI-02: Insurance Business
Environment and MDI-03: Marketing
Insurance Products and Services in Ireland.
Then choose two of the remaining six modules
to correspond to your area of interest.
You can complete the five modules required
for the qualification in any order you wish.
Management Diploma in Insurance
Compulsory modules
MDI-01:
Insurance and Business Law
Contents: The Irish legal system • legal personality • law of torts • law of contract • agency
insurance contracts and insurable interest • utmost good faith warranties, terms, void insurance
contracts and assignment • making a claim • measuring the loss • principle of indemnity •
subrogation and contribution.
Exam: MDI-01 is assessed by an end-of-term 3 hour written exam A 55% pass mark applies.
MDI-02:
Insurance Business Environment
Contents: Structure of the insurance industry • management of insurance businesses •
roles and responsibilities • planning and control • corporate governance • common functions •
accounting principles and practices • accounting standards • insurance company accounts •
claims reserving • financial ratios • financial strength.
Exam: MDI-02 is assessed by an end-of-term 3 hour written exam. A 55% pass mark applies.
MDI-03:
Marketing Insurance Products and Services in Ireland
Contents: Role of marketing in insurance • creating a marketing strategy • applying marketing
theory to the insurance industry • product development and positioning • information gathering •
branding • communicating the market strategy • distribution and service.
Exam: MDI-03 is assessed by an end-of-term 3 hour written exam. A 50% pass mark applies.
Choose two modules from the following
MDI-04: Motor Insurance
MDI-05: Liability Insurance
MDI-06: Commercial Property and Business Interruption Insurance
MDI-07: Advanced Claims Management
MDI-08: Advanced Underwriting Management
MDI-09: Advanced Risk Management
Exam: All of the above are assessed by a 3 hour written exam. A 55% pass mark applies to
MDI-01, -02, -04, -05 and -06. A 50% pass mark applies to all other MDI modules.
You can learn more about these modules on pg 16 of the III Prospectus 2015 (available to
download at www.iii.ie/qualifications).
2.3 LEARNING OUTCOMES
Once you’ve completed the Management
Diploma in Insurance (MDI) you can expect to:
• Contextualise the theory and practice of
general insurance in the wider legal and
business environment.
• Demonstrate your knowledge of the
major business disciplines and insurance
functions both theoretically and practically.
• Apply your understanding of the critical
elements of technical insurance products
and functions in your management of
relevant insurance processes.
• Apply analytical, interpretive, communication
and problem solving skills to common
issues that arise in the general insurance
business environment.
• Communicate your knowledge to peers,
supervisors and relevant stakeholders.
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3 NEXT STEP: ADVANCED
DIPLOMA IN INSURANCE (ACII)
3.1 KEY FACTS AND OVERVIEW
If you have identified the Advanced Diploma
in Insurance (ACII) as a professional goal,
registering for the Management Diploma in
Insurance (MDI) first will make achieving that
goal much easier – and you’ll complete a new
qualification along the way.
Beginning with the MDI means that you
can accumulate up to 210 CII credits that
contribute to the total 290 required for
the Advanced Diploma in Insurance (ACII),
while participating in a fully supported
advanced qualification, featuring enhanced
learning resources.
3.2CREDITS
In order to complete the Advanced Diploma in
Insurance (ACII) you must achieve a certain
number of credits, some of which come from
compulsory modules. By completing the MDI
you will have met some of these compulsory
requirements (e.g. MDI-01 which corresponds
to P05 and MDI-02 which corresponds
to P92). Please see www.cii.co.uk/qualifications
for more information.
See the table below for the CII credits you
can currently accumulate by completing
MDI modules.
Management Diploma in Insurance (MDI)
CII Credits
Complete three compulsory modules
MDI-01: Insurance and Business Law
25 Diploma
MDI-02: Insurance Business Environment
25 Diploma
MDI-03: Marketing Insurance Products & Services in Ireland
Under review by the CII
Choose two of the following modules
MDI-04: Motor Insurance
25 Diploma
MDI-05: Liability Insurance
25 Diploma
MDI-06: Commercial Property and Business Interruption Insurance 25 Diploma
MDI-07: Advanced Claims Management
30 Advanced
MDI-08: Advanced Underwriting Management
Under review by the CII
MDI-09: Advanced Risk Management*
Under review by the CII
Advanced Diploma in Insurance (ACII)
90 credits at Advanced
Diploma level
+
Up to 205 credits at either =
Advanced Diplomaa or
Diploma level
The required 290 credits
for the ACII award
Please note that CII credit awards are subject to change by the CII.
Contact memberservices@iii.ie to check the latest awards.
3.3 LEARN MORE
To learn more about the CII’s process for Recognition of Prior Learning and to obtain and
application form, please visit www.cii.co.uk/prior-learning
PROFESSIONAL ADVANCEMENT
7
4 STEPS TO SUCCESS
4.1SUPPORTS AVAILABLE
As an advanced qualification the course
material for the Management Diploma in
Insurance (MDI) is more demanding than
the Professional Diploma and Certificate
(CIP, APA), we provide a range of enhanced
study supports.
Master the material
Get to grips with the subject matter by
attending lectures with leading experts across
a 20 week term.
• Face to face lectures with subject
matter experts
• Note taking guide to help you make the
most of attending tuition
• Copy of lecturer’s powerpoint slides
• Key points per chapter for all modules
Flexible learning
Prepare through practice
• Review past papers with examiner’s notes
on how best to answer
• Submit assignments for marking to gauge
your progress during the term
• Perfect your exam technique through
tutorials available online and face to face.
Learning plans
These provide revision schedules broken
down week by week to help you manage your
time. They also feature a breakdown of key
words and how they’re used to frame exam
questions, as well as suggested exam timings
and top tips arising from common mistakes.
A comprehensive list of tips to help you
prepare for exam day as well as a checklist for
what you’ll need on the day is also included in
your learning plan.
Study on the move when it suits your schedule
with additional online supports available
through iiiConnect.
• Virtual classes
• Textbooks in e-book form in formats
compatible with e-readers including Kindle,
Nook and Kobo.
• Webinars (recorded lectures) for all
compulsory and some elective modules
4.2 TALK TO US
If you have questions about the Management
Diploma in Insurance (MDI), or you want
to clarify MDI and CII credits, please don’t
hesitate to give us a call or drop us an email.
Our Member Services team are always happy
to help.
Our Client Services Manager Naomi Gaffney
regularly holds information sessions during
site visits to different insurance companies.
Through her work Naomi meets lots of people
considering qualifications and some in the
middle of exams.
Their dedicated number is 01 645 6670 and
their email address is memberservices@iii.ie
If you’d like to have a chat with her about
your options, contact her on 01 645 6629 or
ngaffney@iii.ie
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www.iii.ie
‘I set myself the goal of achieving the ACII and to be
honest I think getting the MDI along the way is a nobrainer. I was even able to earn exemptions for some
ACII Exams I completed in the past. The range of online
supports, lectures and contact provided by the III during
the qualification genuinely makes the process so much
easier. Studying in this way means I’ll find the last push for
ACII so much more achievable with a significant number
of credits already under my belt.’
MDI - Gerard McLaughlin,
Business Development Executive, Travellers
HOW TO REGISTER
Already an III member?
• Go to www.iii.ie
• Click on the Member Area (top left corner of the webpage) and login.
• Click ‘Apply/Renew Here’ to choose your module.
Not an III member?
• Go to www.iii.ie
• Click on the Member Area (top left corner of the webpage).
• Click ‘Register Today’ and complete the online form.
• A member of III staff will contact you to discuss your requirements.
If you have any questions please contact Member Services on 01 645 6670 or
memberservices@iii.ie
ONLINE FAQS
This booklet it designed to give a broad overview of what’s involved in completing III
qualifications. If you have questions about anything not covered in this booklet, please visit
www.iii.ie/FAQ for more information or simply contact our Member Services team who are
always happy to help.
Insurance House
39 Molesworth Street
Dublin 2
01 645 6600
info@iii.ie
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