Want to work in insurance? Here’s how
Okay: So there are lots of career opportunities in Quebec’s insurance industry. These are life-long career opportunities with room to earn a substantial income for those who work hard – so how do you get into the industry?
The short answer is that you must meet certain educational requirements set by the Autorité des marchés financiers (AMF), the provincial government-recognized body that tests and licenses insurance professionals in Quebec.
The longer, more detailed answer is that you must have a Diplôme d’études collégiales from CEGEP. If you do not have a DEC, you can apply for recognition of education equivalent to one. This means that you have completed 11 years of school, and also completed training courses recognized by the Ministère de l’éducation. The AMF can help you calculate if you have enough to qualify for this equivalency.
Some CEGEPS offer insurance-related programs. For instance, Lasalle College offers a DEC in its Insurance and Financial Advisory Services program. (See the list of CEGEPS accompanying this article for the insurance program nearest to you.)
Once you have qualified academically, you must take the AMF certification exam. To take this exam, you will have studied the AMF’S manuals, either by yourself, or in class if you take a DEC or an Attestation d’études collégiales (AEC) in insurance. The manuals cover industry ethics, laws that apply to insurance sales, tax laws, and manuals that cover such specific topics as damage, life and disability insurance. (Sample examination questions can be found at the AMF’S Web site.)
Vanier College offers English-language Amf-approved training programs in insurance. “We have AEC programs in damage and life insurance,” said Michelle D’elia, an education and training advisor with Vanier. “These are ten-month programs that prepare you to write the AMF certification exams. They are helpful for people who don’t meet the AMF’S DEC requirements, and they get you ready to enter the business right after you certify.”
The good news: Vanier College’s courses are tuition-free, although students do have to buy their own books and pay a $300 registration fee. “There are circumstances where Emploi Québec will pay these costs plus provide a living allowance, for those people who qualify for a retraining program,” D’elia said. “So you could find yourself being paid while studying in the damage insurance industry.”
More good news: Once you have passed your AMF exam, you will be taken on by an insurance company for training.this training will let you see how the theory of insurance applies in real life. Depending on what area of the business you have chosen, you will be in training for a six- to 12-week probationary period, for a minimum of 28 hours a week.
“After you have completed training, you receive your certificate,” said Robert Lagarde, president of the Coalition pour la promotion des professions en assurance de dommages. “Once you have earned your certificate, your insurance activities will be governed by the Chambre de l’assurance de dommages. Most importantly, you will be a qualified insurance professional with the right to practise anywhere in Quebec – and to build a great career in a great industry.”