Associate in Personal Insurance (API)
What Is the Associate in Personal Insurance (API) Designation?
The Associate in Personal Insurance (API) is a professional certification in the insurance industry. As its name recommends, the API is centered around personal lines insurance, which is the type of insurance that safeguards against personal injury, death, or loss of property. It is one of numerous assignments presented by The Institutes, an organization dedicated to giving certification and continuing education to insurance professionals.
How the API Designation Works
The API assignment is famous among professionals who wish to start or advance their careers inside the field of personal lines insurance. By acquiring the API, professionals can exhibit that they know about non-commercial insurance products, including critical skills, for example, insurance underwriting, premium setting, marketing, and portfolio management.
For professionals wishing to get further developed certifications, like the Chartered Property Casualty Underwriter (CPCU) assignment, the API can be a well known option. This is on the grounds that a large number of the conditions required to get the API likewise count toward the requirements of the CPCU. In particular, two of the three exams associated with the API can be reused toward CPCU authorization, which is perhaps of the most esteemed assignment in the property casualty industry.
To acquire the API, competitors must foster broad information about the sorts of insurance policies sold in the personal insurance market. This remembers a wide education for subjects like contract supports, conditions and underwriting criteria, and industry regulations. The API is frequently suggested for insurance brokers, agents, claims agents, underwriters, and customer service faculty who serve personal insurance customers.
Real World Example of the API Designation
There are two paths that up-and-comers can take while finishing the API. The first of these remembers courses for underwriting and marketing rehearses in the personal insurance industry, portfolio management, property and liability insurance, and personal insurance. The subsequent path comprises of three courses, covering underwriting and marketing, risk management and property-liability, and personal financial planning.
Regularly, up-and-comers require somewhere in the range of 12 and 18 months to complete these course materials, which are gotten to on a self-serve basis. For those liking face to face guidance, classes may likewise be accessible offline in select districts. Whenever they have breezed through their exams, holders of the API are not required to meet continuous educational requirements to keep up with their assignment.
Features
- The API is a professional assignment that is well known in the personal lines insurance industry.
- It is administered by The Institutes, and ordinarily requires somewhere in the range of 12 and 18 months to complete.
- Many competitors decide to add to their API assignment by chasing after a further developed certification, like the CPCU.
