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Global Institute of Professional Management Certification (GIPMC)
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Insurance Compliance Specialist (ICS)™

Course Description:

The Insurance Foundations Program is a comprehensive beginner-level course designed to introduce learners to the core concepts of insurance. It covers the fundamental principles, types of insurance products, roles within the insurance industry, and essential regulatory frameworks. This program equips students and aspiring professionals with the foundational knowledge required to start and grow a successful career in life, health, or general insurance sectors.

$ 800.00 $ 555.00

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Certification Overview

The Insurance Compliance Specialist (ICS)™ certification is designed to equip professionals with in-depth knowledge of insurance regulations, legal frameworks, and ethical practices. This program focuses on policy documentation, compliance management, internal controls, and risk governance within the insurance sector. Participants will develop a strong understanding of how to ensure regulatory adherence, manage operational risks, and uphold ethical standards across insurance processes. The ICS™ certification is ideal for individuals in compliance, underwriting, claims, legal, and operations roles in insurance organizations.

E-Course Duration:

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Exam Information

  • Mode: Online (Web-based)

  • Type: Objective (Multiple Choice Questions - MCQs)

  • Total Questions: 100

  • Total Marks: 100

  • Duration: 90 Minutes

  • Passing Marks: 70%

  • Negative Marking: No

  • Language: English (Other language support optional)

The ICS™ exam is conducted online through a secure, web-based platform. Candidates can appear for the exam using a desktop or laptop with a stable internet connection. The exam is proctored using AI tools or live invigilation to ensure authenticity and integrity.

? Requirements:

  • Laptop/Desktop with webcam and mic

  • Stable internet connection

  • Quiet environment during the exam

  • Valid photo ID for verification

The total duration of the ICS™ exam is 90 minutes (1 hour 30 minutes). Candidates must complete all sections within the allotted time. No extra time will be provided once the timer ends.

  • Exam Duration: 90 Minutes

  • Format: Continuous, no breaks

  • Auto-Submit: The exam will auto-submit when time runs out.

The ICS™ exam is strictly closed book. Candidates are not allowed to refer to any study materials, notes, books, or online resources during the examination.

? Not Allowed:

  • Printed or digital study material

  • Mobile phones or calculators

  • Browsing other websites or switching tabs

Any violation of the closed book policy will lead to immediate disqualification and may result in the cancellation of certification.

  • Number of Attempts: Up to 3 attempts allowed

  • Retake Waiting Period: 7 days between each attempt

  • Re-scheduling: Candidates can reschedule their retake exam within the allowed attempts

The Insurance Compliance Specialist (ICS)™ certification is valid for 3 years from the date of issue.

To maintain the certification, professionals are required to complete continuing education or re-certification processes before the expiry date. This ensures that they stay updated with the latest regulations and industry practices.

All trademarks, service marks, logos, and trade names referenced in this certification program are the property of their respective owners. Use of these marks does not imply any affiliation with or endorsement by the trademark holders.

The Global Institute of Professional Management Certification (GIPMC) name, logo, and certification marks are the exclusive intellectual property of GIPMC. Unauthorized use, copying, or distribution of GIPMC’s trademarks and materials is strictly prohibited.

N/A

Before enrolling in the Insurance Compliance Specialist (ICS)™ certification program, candidates should meet the following criteria:

  • Basic understanding of insurance concepts and terminology

  • Minimum educational qualification: High school diploma or equivalent

  • Recommended: Prior experience or knowledge in insurance, compliance, or related fields (not mandatory)

  • Ability to use a computer and access online learning platforms

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Course Outline

Introduction to Insurance Compliance

    • Overview of insurance industry regulations

    • Importance of compliance and ethical practices

Insurance Laws and Regulatory Frameworks

    • Key insurance laws and acts

    • Regulatory bodies and their roles

Policy Documentation and Compliance

    • Understanding policy terms and conditions

    • Documentation standards and record-keeping

Ethical Standards in Insurance

    • Code of conduct for insurance professionals

    • Handling conflicts of interest and fraud prevention

Compliance Risk Management

    • Identifying and assessing compliance risks

    • Risk mitigation strategies

Audit and Internal Controls

    • Internal audit processes in insurance companies

    • Control mechanisms and compliance monitoring

Reporting and Communication

    • Reporting requirements and formats

    • Effective communication with stakeholders

Target Audience

The Insurance Compliance Specialist (ICS)™ certification is ideal for:

  • Compliance officers and risk managers in insurance companies

  • Underwriters, claims handlers, and policy administrators

  • Legal and audit professionals working within the insurance sector

  • Insurance agents and brokers seeking to enhance regulatory knowledge

  • Fresh graduates and professionals looking to build a career in insurance compliance

  • Anyone involved in managing insurance policies, regulatory adherence, and ethical practices