Associate In Insurance Accounting And Finance
What Does Associate In Insurance Accounting And Finance Mean?
The Associate of Insurance Accounting and Finance (AIAF) is a title awarded to individuals who have successfully passed a series of exams on insurance accounting and finance through the Insurance Institute of America. Those who complete the program are expected to have a solid understanding of the fundamentals of accounting and insurance.
Insuranceopedia Explains Associate In Insurance Accounting And Finance
Financial statements produced by insurance companies are closely scrutinized by regulators. Therefore, the accountants responsible for preparing these statements must demonstrate the highest level of proficiency to ensure they do not compromise the reputation of the insurance companies they work for.
One way to achieve this is by enrolling in an AIAF program at a reputable insurance training school. Participants will receive training in key areas of insurance accounting and finance, including insurance company operations, insurance information systems, statutory accounting for property, and liability insurers, among others. These areas are covered in four examinations that must be passed in order to be awarded the AIAF title.