Finland
Financial and Insurance Institute FINVA
Hannele Ikonen
Managing Director
Bulevardi 28
SF-00120 Helsinki
Phone: *358 9 680 40 268
Fax: *358 9 680 40 235
Website: www.finva.fi
E-Mail: hannele.ikonen@vakes.fi
Finnish Insurance Training Centre
Supervised by the National Board of Education, the Financial and Insurance Institute FINVA is a specialised vocational institution which crafts and arranges training programmes in insurance at two levels: insurance examination and advanced insurance examination. In addition, FINVA arranges professional examinations in business economics and administration, short-term supplementary courses and long-term training programmes designed for the insurance and financial services industry. Training is also available under apprenticeship programmes. There are also two managerial programmes: executive MBA in Insurance and Financial Services and VALIKO - Managerial training programme for the insurance and finance sector. Supplementary training programmes are also tailored to individual companies. FINVA is maintained by the Foundation for the Advancement of Insurance Skills.
Examinations
Insurance examination is a basic examination which gives a broad overview of the insurance industry. The examination is intended for anybody starting in the industry, regardless of background or education. Those who have been working in the insurance industry, perhaps even for a long time, will find the insurance examination an ideal way to strengthen the fundamentals of insurance as evidence of their professional competence. Outside the insurance industry, insurance examination is well suited to persons in charge of insurance affairs in companies and to anybody that is interested in the insurance industry. Depending on the options chosen, the examination course consists of 13 to 16.5 credits. The minimum requirement for a diploma is a pass in ten subjects, out of which four are compulsory and six optional. Two-day tests are arranged three times a year in five locations in Finland.

Advanced insurance examination is an extension to the insurance examination and comprises 25 ECTS and four modules. Two face-to-face teaching modules incorporate subjects common to all delegates. The third module can be chosen freely from among the Financial and Insurance Institute FINVA’s supply of course options. As part of the applied module, the delegates are required to write an essay. The face-to-face courses incorporate exercises, also distance exercises, which the delegates may solve independently between courses. Delegates participating in the advanced insurance examination also acquire knowledge of the basic insurance terminology in English.

The Financial and Insurance Institute FINVA also arranges professional examinations under apprenticeship programmes. Yet another alternative is an insurance-oriented business administration programme, which incorporates examinations in the fundamentals of business administration and economics as well as an insurance examination.
Managerial Training Programmes
VALIKO, managerial training programme for the insurance and finance sector, is an advanced development and training programme for senior / middle managers working in the insurance and financial services industry. The objective of the programme is to give an in-depth insight into insurance, an overview of the financial services market and new views and models of management methods and personal development. The program is carried out in eight sessions of two or three days and a project paper to be passed before completion. Between the sessions the participants study in the e-learning environment of FINVA. An international excursion makes up an important part of the programme with presentations and visits in several companies and organisations of insurance and finance branch. The programme is made up of eight modules and incorporates 21 seminar days, equalling 25 ECTS.

Executive MBA in Insurance and Financial Services is the second consecutive management development programme for the financial and insurance sector. It is produced in collaboration with University of Tampere and Financial and Insurance Institute FINVA. The courses are taught by insurance and financial services experts and academics. The instructors have either long working experience in the field or are specialists with command of the newest theories in the business. The program consists of 90 ECTS. The completion of the program takes approximately 3 years of part-time studies. The program includes 43 days of in-class teaching in the form of lectures, discussions and group work. The program includes a study tour to Switzerland. Additionally, 16 ECTS of management and insurance and financial business studies are required. These electives need to be accepted into the student’s personal study plan. The students demonstrate their acquired knowledge of the core competencies of insurance and financial businesses in a MBA thesis (20 ECTS).
Short-term supplementary training
The Financial and Insurance Institute FINVA provides short-term supplementary training by arranging about 50 training events a year. These seminars and courses focus on the finance, fundamentals of insurance, individual insurance lines and current developments such as legislative changes. In addition, the Finnish Financial and Insurance Institute FINVA arranges seminars on statutory insurance lines, i.e. workers’ compensation and motor liability insurance, focusing on the claims handling practices applied to the lines.

Learning Methods

The Financial and Insurance Institute FINVA’s learning perspective is collective, investigative learning. Blended learning methods are used and all the training programmes have an e-learning environment.

Publishing

Finnish Financial and Insurance Publishing Ltd FINVA is a publisher of textbooks, handbooks and reference books as well as glossaries and dictionaries for the needs of professionals in the financial and insurance industries. The company is owned by the Foundation for the Advancement of Insurance Skills.