Capacity Building Initiatives
Highlight on MII Projects (Report as of 30 November 2012)
Below is the significant development status of MII Capacity Building Projects:
1. Competency Framework for Insurance and Takaful Brokers
In response to Bank Negara Malaysia’s 2011 Financial Masterplan for the insurance sector, MITBA has developed a five-year plan, focusing on a three-pronged strategy, i.e. re-branding, capability building and setting standards for the insurance and takaful brokers industry.
A term of reference (TOR) was created in view of inviting a third party consulting partner to assist especially in the areas of building capability focusing on setting a basis for Education & Training Framework. The plan is to help build the capabilities of brokers in terms of competency level. Thus, enhancing competitiveness in anticipation of the opening up of the financial markets.
Subsequent discussions, with regards to MITBA’s needs have pointed towards the development of a Continuing Professional Development (CPD) framework as a starting point in ensuring the sustainability of the above effort. In summary, the project will focus on two broad areas:
1. Identifying and developing the required competencies, covering core and functional / technical areas in the
broking industry; and
2. Providing over-the-shoulder advisory assistance to MITBA’s team that is currently working on developing the
draft CPD (continuing professional development) programme.
The primary objectives are:
• To elevate the image and reputation of the broking fraternity by focusing on putting in place structures, systems and processes will which ultimately enhance the level of competency and professionalism amongst the members.
• The emphasis will be on developing the skills, knowledge and behaviours (commonly known as competencies) required of a broker in ensuring professionalism and a creation of a continuous development framework to ensure sustainable growth of the industry via professional providers.
Human Synergy Sdn. Bhd. has been appointed by MITBA to lead the project. The appointment was made in September 2012. Presently, the consultant is in the Gap Analysis stage where one of the key deliverables is a Gap Analysis between Competency Framework developed by MII and MITBA’s current and future needs and requirements.
2. Development of Technical Training Programmes
Slides and Trainer's Guide for the Fundamental of Risk Management The programme outline was completed on 4 September 2012. The course developer was appointed on 5 September 2012 to develop the first draft of the above programme. The first draft of the programme was completed on 5 October 2012 and reviewed by MII’s Product Development team on 11 October 2012. The next activity is writing the programme in full and it is expected to be completed by November 2012.
3. Library Management System
The LMS system for MII was fully installed in August 2012. Presently, the utilisation is opened to all MII members.