Leading from the front achieves industry first

New Zealand’s largest general insurer has become the country’s first insurance company to take the significant step of putting national qualifications at the centre of staff training.

The introduction of the new financial adviser authorisation regime prompted IAG to review its training for its customer service staff. The result has seen the company’s traditional coaching approach to training broaden to put national qualifications at the centre of staff learning and development.

National qualifications can be achieved by employees as they carry out their job, rather than attending external courses, for example, and are the central platform for industry training organisations working with New Zealand companies and organisations to boost skills.

As the industry training organisation for the financial services sector, ETITO has been working with IAG to put its new programme in place.

To meet compliance requirements of the Financial Advisers Act, IAG has been approved as a Qualifying Financial Entity by the Securities Commission. Being a QFE means IAG is accountable for the advice their staff provide customers, they are also responsible for their staff maintaining appropriate professional standards.

National qualifications are supported by the Commission as a demonstration of the kind of capability and commitment it seeks from QFEs.

IAG’s Learning and Development Manager Monica Ayers says while financial services regulation prompted the organisation to engage its employees in training for the National Certificate in Financial Services [Level 4], additional benefits quickly became clear.

“We see this as compliance plus. It offers our people a pathway of learning and development for their career.”

The Level 4 certificate is designed for staff in roles that involve providing customer or product advice, technical or general support, such as senior customer service representatives

Monica says the qualification pathway also aims to attract and retain good staff.

“We are the largest general insurer in the country and we are eager to take a leadership role in the industry. National qualifications are a great way of positioning ourselves as an employer of choice.”

“General insurance is facing two or three years of demand where people with these skills will have a pick of where to go. Anything we can do to get people to choose here is valuable.”

IAG is piloting the qualification in one of its largest business units which works with banks and other large financial institutions to provide insurance products. The pilot is being led by Learning Specialist Ben Peterson, and business unit team leaders Pritika Devendra and Mayooran Kumarasamy. All three already hold the qualification and Ben became New Zealand’s first registered workplace assessor for the qualification last month.  Pritika and Mayooran have become registered assessors also.

Members of the IAG team, back from left, Learning Specialist Ben Peterson, team leader Pritika Devendra, Organisation Learning Manager [Learning and Development] Andy Graves, Operations Manager [Corporate Partners] Helen Trembath and team leader Mayooran Kumarasamy.
Front, ETITO training manager Joanne Cornford [left] and IAG Learning and Development Manager Monica Ayers

Having completed the qualification they have seen first-hand how the programme can deliver results. There is real benefit through the relevant content and the workplace-based nature of the learning.

“It’s relevant to what people do every day.” says Ben.

IAG plans to have employees complete the qualification within six months of completing their induction training. National qualifications require the achievement of unit standards to gain the qualification. Individual unit standards cover a range of subject areas including professional practice and business administration, knowledge of financial services products and services and organisational skills in the financial services industry.

IAG staff use information collected in the process of doing their job to demonstrate they have met the requirements of the unit standards. Assessors then review the evidence to ensure they have met what is required.

“Because they follow a systematic process to gather evidence they’re performing at a higher level sooner.” Ben says, “It’s early days, but so far they’re learning to become process driven and that helps the business.”

“The feedback we have is that people are getting a lot out of it and more importantly they’re enjoying it,” says Monica. “All of our other business units are watching the progress of the pilot carefully – there is real interest in the qualification among our staff.”

ETITO training manager Joanne Cornford, who has been working with IAG to get the programme in place, says the company is an excellent example of how national qualifications work best when tailored to the needs of the workplace and staff.

“There are a number of factors that influence success but as we have seen in other companies we work with, IAG has done many of the things to ensure they’ll get the best results. There is strong leadership and commitment to success, good team work within the organisation and with ETITO to shape a high quality programme that works for the particular demands of the workplace, and very clear links to how the qualification will benefit staff and the wider business.”

Companies seeking information about national qualifications in the financial services sector can contact Joanne Cornford at