About the Program
The BAC’s Professional Bachelor’s Degree in Insurance is designed to equip graduates with technical and professional skills needed to excel in today’s dynamic and contemporary Insurance industry. The program covers all three (3) core insurance fields being Short-term insurance , Long-term insurance and Retirement funds for the first three semesters. From year two (2) onwards, the program specializes in short-term insurance. The qualification satisfies the educational requirements for the designation of Associate (AIISA) awarded by the Insurance Institute of South Africa (IISA). The Insurance Institute of South Africa (IISA), is a globally recognized professional body and awards membership designations that are globally recognized in the insurance sector. The program is reviewed regularly through consultations with the industry to reflect professional and best industry practice.
The current drive to expand and professionalise the insurance industry requires the development of people with technical and professional skills and an in-depth understanding of the workings of the insurance industry. Combined with a sound understanding of the regulatory environment, the wide range of products available and of the practices involved with claims, underwriting procedures and the principles of risk management and reinsurance, students will acquire skills to make ethical and professional decisions based on industry-specific scenarios.
Applicants should have BGCSE/IGCSE or equivalent, with a minimum 34 points of 12 points in any of the following subject combination;
• Certificate in Insurance from a recognised educational institution
• Mature candidates with no academic qualifications with a minimum of 3 years
relevant work experience may be considered on an RPL basis.
Duration of Programme
The duration of the programme is 4 years including 6 months compulsory
Mode of study
Full Time & Part Time
This program offers various career opportunities, including broker consultant, claims manager, insurance administrator, insurance broker, loss adjuster, insurance assessor, reinsurance, underwriting or claims manager, Insurance investigator, Insurance trainer Financial Advisor, Insurance Sales Manager or insurance risk manager.
Upon successful completion of this program, candidates may pursue further studies in the following programs;
• BAC post graduate diploma in Insurance
• Honours Degree in Risk Management
• Master’s Degree in risk management
• Actuarial Science
• Chartered Financial Planner
This is a four (4) year program with a core foundation in short-term insurance, long-term insurance and retirement funds for the first three semesters. From year 2 semester one(1) the program specializes in short-term insurance. It consists of 17 compulsory modules and 4 elective modules plus 6 months compulsory industrial attachment in short-term. Industrial attachment is undertaken in the last semester of year 4 and assessed in terms of the Insurance Institute of South Africa’s (IISA) technical work experience requirements.
Assessment methods and format
Students will be assessed using the following methods;
• Practice progress tests (Do not contribute to the final exam mark)
• All modules are assessed by three (3) hour written examinations and are designed to reflect professional practice. The assessment method may vary for some modules and will include constructed responses or multiple-choice.
• The pass mark is 50% for all modules