Melbourne-based claims management specialist LMI Group is aiming to grow its insurance education business, following its acquisition of Financial Services School this month.

LMI, which upped its stake to 50% four years ago, bought out the share of the school’s founder and CEO Val Phinn, after she decided to retire.

The school has since been rebranded as LMI College, and LMI Group founder Allan Manning, who will manage the day-to-day running of the school as CEO, sees areas of opportunity ahead.

“Currently we offer Tier 1 and Tier 2 and Diploma of Insurance Broking,” Professor Manning told insuranceNEWS.com.au today. “Over time, we will open up more into the general insurance space and we are going to run courses for risk surveyors.

“Insurance is a very complex product and we cut across every type of industry and the policies are all different. The technical skill side is the area where we think we have it, and we want to pass the knowledge to the next generation.”

Claims is an area where the school hopes to eventually offer a course as the Government prepares to make claims-handling a financial service.

“We want to introduce a qualified course for claims professionals. We think we can add a lot in that space,” Professor Manning said. “We have more resources now.”

He says the school currently has just under 600 students.