QIB Status allows brokers to be publicly recognised as being competent and professional practitioners. It differentiates them in the marketplace where customers are concerned about the level of knowledge, competency and ethical standards of advisers. Better educated and skilled brokers mean better business for their companies.
IBANZ Members compete for business with non-member brokers, insurance agents and insurers. The achievement and maintenance of QIB status is an important tool for brokers and helps to promote the continued growth of their business, differentiating them from others who are not committed to high standards in their business dealings.
Criteria for QIB Status
- Individual membership of IBANZ, Inc.
- NZQA National Certificate in Financial Services Level 4, or a recognised equivalent and
- Minimum three years' broking experience, or seven in the insurance industry in an advisory role
3. Evidence of ongoing professional development
- 15 CPD points of Continuing Professional Development in the preceding 12 months
For further details on application criteria, contact us or email email@example.com and we will assist you.
Retention of QIB Status
To retain QIB, Members must be able to declare at least 15 CPD hours of Continuing Professional Development each year (1 January to 31 December).
If a Member does not achieve the 15 CPD points required in a year they may apply for an extension of target reduction to achieve the requirements to retain their status as QIB. If the grace period expires and the requirements have not been met the QIB status will revert to the appropriate status based on the achieve points.