The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) has signed a deal to manage operations on behalf of the Risk Management Institution of Australasia (RMIA).

Under the terms of a service agreement, ANZIIF will provide a dedicated service function to RMIA involving access to education and event management resources, membership support services and marketing and promotional support.

“Our primary focus is to get access to the technology and quality service our members need, and the resources we’ve been struggling to provide,” RMIA President Brian Roylett told insuranceNEWS.com.au.

RMIA will remain a separate organisation under the agreement, retaining its existing membership, branding and industry event calendar. The organisation has a membership of almost 2000.

A unanimous RMIA board vote in favour of the ANZIIF deal followed rising concerns at the cost of maintaining an executive management structure and the investment required to achieve sustainable growth throughout the Asia-Pacific region.

The RMIA board will continue to set the organisation’s strategic direction.

CEO Joan Fitzpatrick told insuranceNEWS.com.au access to ANZIIF resources and reputation could lift the profile of RMIA, particularly within Asia. 

“There’s a lot of work going on in China, Hong Kong, Indonesia and Vietnam to develop risk management and a strong desire for risk management training,” she said.

No agreement has been reached on providing a similar function for the Australasian Institute of Chartered Loss Adjusters (AICLA), after AICLA last year announced it would consider such a move.