Industry feedback is being sought on a proposed revamp for insurance certificates and diplomas delivered by government-registered training organisations.

PwC has released a paper outlining the changes, which reflect Hayne royal commission reforms, wide industry transformation and demand for a greater focus on claims and technical knowledge.

The consultation is part of a scheduled five-year review of financial services training packages. It has been conducted in conjunction with an Industry Reference Committee, which includes the Australian and New Zealand Institute of Insurance and Finance (ANZIIF).

“There is a lot of change happening around us at the moment with all of the post-Hayne legislation and we are also seeing a lot of change in the workplace,” ANZIIF CEO Prue Willsford told insuranceNEWS.com.au.

“It is critical that these packages reflect the skills and competencies needed for us to deliver effective and efficient services to our customers.”

Qualifications reviewed include the Certificate IV in Insurance Broking and the Diploma of Insurance Broking.

PwC says 16 units have been updated, two ASIC Tier 2 elective units on general and personal advice will become core subjects as part of the Certificate IV in Insurance Broking and a similar Tier 1 advice-related unit will be a core part of the Diploma.

The review proposes dropping the basic-level Certificate III qualifications in broking and insurance, as the knowledge is often provided as internal training, and ending the Advanced Diploma of Insurance Broking as experienced workers are more likely to pursue management-focused studies.

Ms Willsford says ANZIIF has facilitated discussions between PwC and ASIC, given the relationships between RG146 requirements around advice and the Australian Quality Training Framework (AQTF).

The paper on the draft training products is available here. Feedback is requested by close of business on March 20.