Working in the Alberta insurance industry has its benefits, and the general job prospects are good. Whether you are already working as a broker or want to join, there are two ways you can earn your license. You can either get the AIC or CAIB Alberta license. Find out more about each below, with an emphasis on CAIB.
What is CAIB? For those who are new to the industry, CAIB is an insurance designation that’s recognized across Canada. Successful completion of the program and the four exams award you the CAIB designation, which is well-known amongst industry experts.
AIC General Insurance license
AIC stands for Alberta Insurance Council, a governing body for insurance brokers in Alberta. There are three levels that you can take for your AIC licensing. Level 1 focuses on personal property and liability, Level 2 focuses on commercial property and liability, while Level 3 emphasizes broker management.
One thing to note is that most people often pick CAIB Alberta over the AIC exams, as the exam has a historically lower passing rate. However, if you live in Alberta and plan to work here, your employers may request that you pass the AIC licensing exams. Before you decide, you should find out what your employers want, then decide which licensing method is best for you.
If you have CAIB or CIP licenses already, then great news! You can transfer your license through equivalency courses.
I heard CAIB Alberta is better than the AIC exams. Why?
Both designations are great and both paths will result in an insurance license but depending on your goals, CAIB Alberta may be more suitable. Here are some reasons why CAIB may be ideal for you:
- One reason is that CAIB is recognized across Canada, so you don’t need to take equivalency exams. In comparison, the AIC licensing exams are exclusively for Alberta.
- Another is that CAIB has a higher pass rate. Students tend to be more successful in the first attempt than in AIC exams.
- Another reason is that the level of knowledge is more intensive for CAIB, which is desirable in the long run, especially if they want to further their insurance career.
Tell me more about THE CAIB Designation
To obtain your designation, you have to go through 4 exams. Each CAIB levels focus on different areas of insurance. The first level is CAIB 1, focusing on personal property and liability. CAIB 2 emphasizes commercial property, while CAIB 3 mainly covers commercial liability. The last level is CAIB 4, which prepares you on topics regarding Broker Management.
Where can I get started?
PNC is a one-stop-shop for all your insurance licensing needs. If you need your CAIB 1, visit us here. For other levels, click here: CAIB 2, CAIB 3, & CAIB 4. If you aren’t sure whether we’re the right fit, sign up for a free trial to see how we teach!