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What are your opinions on the Cicero insurance certificate? Is there anything to it? Are insurance agents and brokers with Cicero badges more qualified than other brokers?
Hi there,
The Certified Insurance Competence (Cicero) label is managed by the Swiss insurance association Berufsbildungsverband der Versicherungswirtschaft VBV. This label is bestowed on insurance consultants which meet the association's competency requirements.
In order to maintain Cicero accreditation, insurance consultants are required to obtain 60 Cicero credits annually, with each credit being awarded for 45 minutes of training. Membership in the association is also a requirement.
However, It is important to understand that industry associations and the labels they provide are generally market-driven. Being alert as to whether or not insurance consultants try to sell you on insurance products which are more expensive than similar products or which are simply unnecessary is a more sure way to determine the quality of consultation than simply being shown a badge.
Best regards from Moneyguru
