This signature move for the TTII, follows on the heels of the proclamation of the Insurance Act 2018 (as amended) on January 1st 2021. Under this legislation, intermediaries are required to complete a minimum of twelve CPD hours for each CPD year, in order to secure a renewal of their registration. The TTII was appointed by the Minister of Finance of Trinidad and Tobago as the approved educational institution that will be responsible for supervision and administration of CPD for all insurance intermediaries.
The TTII sets standards, promotes education and provides training to help enhance the professional knowledge, skills and competence of insurance intermediaries across the islands. Their primary objective being the ‘professionalisation of the local insurance industry’.
The Central Bank of Trinidad and Tobago requires all insurance intermediaries to undertake and demonstrate annual CPD as part of its measures to improve standards of market conduct, following the introduction of the Insurance Act of 2018 and the Insurance (Amendment) Act, 2020, which came into effect on January 1 this year.
Carol Jaggernauth, Communication and Education Officer, at the TTII said, “To ensure compliance and to meet the demands of the new regulations, we have partnered with Agylia to deliver a truly modern and easy-to-use learning and CPD platform that will enable us to track, report and audit the CPD activities across the industry.”
“Throughout the selection and the implementation process, Agylia were patient and supportive, and we have received a universally positive response to the platform. I’m confident the Agylia Learning Management System (LMS) will significantly improve our capability to enhance the crucial learning and professional development service we provide to members.”
The TTII will use the Agylia LMS to deliver a range of learning content, including eLearning courses, compliance training programmes, videos and workshops to its members.
The CPD platform will enable members to take ownership of their CPD records through the recording and tracking of CPD activities and the ability to add activities, evidence and reflections.
The LMS and CPD platforms will provide the TTII with greater insights and analytics on the learning and CPD activities of their members. The platform will also assist the Regulators with their audit of the CPD administration and management process to ensure that the required standards for CPD supervision are achieved and maintained by all stakeholders.