The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) has teamed with a local provider to deliver broking and loss adjusting education in Saudi Arabia.

Under an agreement with the Institute of Banking, Saudi Arabian Monetary Agency (IOB), ANZIIF has completed the translation of broking and loss adjusting modules to Arabic.

It has also produced bilingual versions of learning and assessment materials for use in the developing Saudi Arabia insurance industry, which is forecast to grow rapidly.

Saudi authorities expect the number of insurance industry professionals to increase from a few hundred to around 10,000 during the next five years.

“The partnership will significantly benefit the development of insurance standards and practice in the region and we hope that this is the first of many partnerships to deliver sophisticated Australian education and professional membership services to the region,” ANZIIF Marketing Manager Michelle Rawlings told insuranceNEWS.com.au.

The initiative forms part of the ANZIIF international outreach strategy, which involves similar programs in China, South Korea, Vietnam, Thailand and Indonesia.