Associate in Insurance Accounting and Finance (AIAF)
What is Associate in Insurance Accounting and Finance (AIAF)?
Associate in Insurance Accounting and Finance (AIAF) is a professional assignment program to assist accounting and finance with staffing, line of business managers, agents, and brokers gain proficiency with the practices and principles of getting ready financial statements for insurers. The assignment is granted by The Institutes.
Understanding Associate in Insurance Accounting and Finance (AIAF)
The Associate in Insurance Accounting and Finance (AIAF) covers subject areas like insurance data systems, accounting and regulations for property and liability insurers, and other related coursework. To acquire the AIAF assignment, the candidate must complete five courses and finish an exam for each course.
Insurer financial statements are prepared to consent to regulations set by the National Association of Insurance Commissioners (NAIC).
AIAF Program Requirements
Candidates for the Associate in Insurance Accounting and Finance (AIAF) must complete the accompanying courses:
- Insurer Accounting Management
- Insurer Risk and Capital Management
- Interfacing the Business of Insurance Operations
- Influencing the Bottom Line of Insurance Financials
- Ethical Decision Making in Risk and Insurance
Materials cost $235 to $425 per course. Exams cost $250 to $400 each. Every one of the five courses can be completed in 12 to 18 months.
Insurance Industry Professional Designations
The Associate in Insurance Accounting and Finance (AIAF) is one of around two dozen professional assignments The Institutes offers for the insurance industry. Its other professional assignments include:
- Associate in Claims (AIC)
- Associate in Commercial Underwriting (AU)
- Associate in General Insurance (AINS)
- Associate in Risk Management (ARM)
- Associate in Insurance Data Analytics (AIDA)
- Chartered Property Casualty Underwriter (CPCU)
- Associate in Insurance Services (AIS)
- Associate in Management (AIM)
Professional assignments have expanded in recent years, particularly in financial services. While assignments have long been an accepted part of the financial services foundation, the new wave of credentials has sewn confusion in the market.
A close analysis of a large number of these new assignments uncovers they require just a small part of the coursework demanded by more seasoned certifications, like the Certified Public Accountant (CPA) assignment.
For example, the Chartered Mutual Fund Counselor (CMFC) assignment can assist advisors in the investment selection and management with handling (and will likewise possible sound amazing to clients). Be that as it may, the coursework is nine modules and barely starts to expose the material covered by the seriously requesting Certified Financial Planner (CFP) assignment.
Features
- The Associate in Insurance Accounting and Finance (AIAF) is a professional assignment to help accounting, finance, and other staff to figure out how to prepare financial statements in the insurance industry.
- The AIAF is one of around two dozen professional assignments The Institutes offers for the insurance industry.
- AIAF candidates must complete five courses and breeze through their relating exams. The assignment can be completed in 12-18 months.
