Insurance trainer the Financial Services School (FSS) is driving the creation of an industry committee to push for changes to broking qualification courses.

Val Phinn – a broking veteran of 30 years before she set up Brisbane-based FSS in 2009 – says accredited certificate and diploma courses for brokers designed by Innovation & Business Skills Australia (IBSA) focus too much on process and too little on technical skills.

IBSA is one of 11 industry skills councils. It designs the vocational courses that registered training organisations such as FSS offer.

Ms Phinn says broker education focuses too much on Australian Securities and Investments Commission-mandated process and compliance requirements.

She says IBSA training packages “don’t meet industry requirements” – even though the National Insurance Brokers Association (NIBA) and the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) sit on the industry reference committee that oversees course design.

“What we’ve seen in the training packages is a reduction in the level of knowledge and skills required for a career in insurance broking,” Ms Phinn told insuranceNEWS.com.au.

“You can’t just have all process; you’ve got to have the technical knowledge to go with it.”

The industry committee will be chaired by Lynette Rankin, CGU Insurance’s National Relationship Manager, Broker Business, and has backing from the Council of Queensland Insurance Brokers (CQIB).

Ms Phinn says her only role has been to “facilitate” the group.

She says it is now up to the committee to “consider the pros and cons of the current training package… and put forward a case to develop new technical units of competency to better meet the needs of the industry”.

Industry members wishing to be involved can still apply. The committee is expected to meet formally for the first time in October.

“Industry involvement is crucial,” Ms Phinn said. “This is an opportunity for all members of the insurance industry to put forward their ideas.”

IBSA told insuranceNEWS.com.au it has received an approach from Ms Phinn about deficiencies in training programs.

Industry Manager for Financial Services Demmi Paris says the current training package is based on consultations with industry. If the industry committee wants a review of the package, it must present a “business case” and “identify where the gaps are”.

IBSA would then refer the submission to the responsible industry reference committee – which includes NIBA and ANZIIF – to approve a funding allocation for a review of course content.

CQIB GM David Duncalfe told insuranceNEWS.com.au his group supports creation of the committee in the interests of “making sure our members are getting the best training available”.

“As an industry association, our focus is on ensuring our members are doing training of the highest calibre,” he said. “It’s our industry and we should be setting what we think is best industry practice.”

Brokers and broker organisations interested in joining the committee should contact Ms Phinn at admin@thefss.com.au.