Otago Polytechnic

Articulation of a (new, elevated) fourth level Insurance Broker professional status, with a case study in cyber insurance sales

Andy Jensen
19 August 2019

Jensen, A.R. (2019). Articulation of a (new, elevated) fourth level Insurance Broker professional status, with a case study in cyber insurance sales. Executive Summary of a thesis submitted in conformity with the requirements for the degree of Master of Professional Practice [PDF 146KB]

The project draws attention to the fact that the highest professional status an Insurance Broker can obtain falls short of peer industry requirements, in particular, a comparison of respective 'Chartered’ status. This project provides a new pathway for insurance brokers to attain a new and higher level of recognised professional standard (tier 4), and in doing so, provide welcome new leadership and advocacy within the industry. The report also follows how I go about achieving my own pathway to tier 4 standard while articulating my learning achieved during this journey and how my own professional practice has changed accordingly.

The project’s pathway to tier 4 professional standard begins from the (current) top of three professional statuses, and is constructed on three primary goals:

 

  • The first goal is to advance to a higher level of insurance broker professional standard. A holistic master goal whose milestones and learning are subsequently explored and articulated in greater depth in goals’ two and three. Notwithstanding, during the process of defining a new professional standard and conducting an investigation, goal one provided myself valuable learning in the areas of sources of power, leadership, project management, using influence and tellingly highlights the benefits of being associated with a post-grad study. Unless referenced, all work produced in this project utilises my own original data.

 

  • The second goal is to work with the Insurance Brokers Association of New Zealand to define a new and higher level of insurance broker professional standard, Tier 4 level. The central goal of this investigation, goal two contains nine pillars of attainable personal achievement, providing a clear pathway for brokers to reach a higher and meaningful professional status.  

 

  • The third and final goal is to explore the elements of Tier 4 through work practice in the development of an emerging market – cyber insurance. To achieve goal two’s substantial project investigation, I first had to learn the process of conducting a survey. Goal 3 investigates and articulates the methodology and learning achieved of performing a survey from the start to completion.  The process includes defining the research questions, specifying the population of interest, identify sample frames, choosing a data collection mode, designing and pre-test questionnaires, selecting a representative sample, recruit and measure the sample respondents, coding and edit the unadjusted data, conducting post hoc data adjustments, performing data analysis and interpreting results.

Licence

This thesis is not publicly available. The executive summary is available under a Creative Commons Attribution Non-Commercial No Derivatives 4.0 International License.

Creative Commons License