The Singapore Insurance Brokers Association (SIBA) is committed to advancing professional insurance broking and fostering public confidence in insurance brokers.
SIBA is not only concerned with setting minimum standards of education and experience but also ensuring that brokers undertake on-going development and training to maintain and enhance their capabilities and professionalism.
With so many issues impacting insurance broking, such as direct marketing information technology and increasing consumer expectations, insurance brokers worldwide must now embrace new levels of training, education and service. These tools are vital to the future of our industry.
In May 2000, National Insurance Brokers Association of Australia (NIBA) signed a Memorandum of Understanding with SIBA to give SIBA exclusive rights to the QPIB System and Education Programme in Singapore. Also, Singapore College of Insurance Ltd, as SIBA’s nominated Training Body be authorised to commence APIB education programme in 2000 under the terms of our licensing agreement.
Currently 36 senior brokers are registered with the QPIB title. QPIBs are required to complete at least 24 hours of continuing professional education each year through attending specific insurance courses and seminars relevant to the professional qualifications. A yearly subscription fee of $72 is payable for QPIB membership.