Is the exam for an insurance broker difficult? Under what conditions can you apply for an exemption from the exam and is it really only the University of Gdańsk that currently offers such an opportunity to its graduates? We are asking dr Kamila Bielawska from the Faculty of Management of the University of Gdańsk, the supervisor of the Inter-faculty Insurance-Interdisciplinary Studies on behalf of the University.

Elżbieta Michalak-Witkowska: - The Examination Board for Insurance and Reinsurance Brokers has recognised the syllabus of the course 'Insurance - interdisciplinary studies', conducted at the Faculty of Management in cooperation with the Faculty of Law and Administration UG, as complying with the scope of examination topics for insurance brokers. Does this mean that the graduates of these studies will not have to take an exam to become insurance brokers?

Dr Kamila Bielawska: - The first graduate of the Insurance-Interdisciplinary Studies course has already received a certificate of exemption from the exam from the Examination Commission for Insurance and Reinsurance Brokers. This is a major event for the insurance market, as it is the first exemption from the broker exam since this possibility was introduced by the provisions of the Insurance Distribution Act 2017. More of our graduates are waiting for their applications to be processed by the board.

- Do exemptions happen frequently? You emphasised in our conversation that currently, only the University of Gdańsk provides such an opportunity to its graduates. What is the reason for this?

- It is very difficult to obtain an exemption from the brokerage exam. Recognition of studies by the Examination Commission as compatible with the scope of the brokerage exam requires the submission of many detailed documents, including dedicated syllabuses of individual subjects. The University of Gdańsk is the first university that has obtained approval from the Examination Commission for its master's programme, which is a necessary condition for interested parties to apply for exemption from the exam. When we started working on the insurance studies programme with prof. Dorota Maśniak from the Faculty of Law and Administration of the University of Gdańsk, we started by creating the profile of an ideal graduate who would be prepared to work as an insurance broker, but not only. While developing the programme, we were aware of the dynamics of the insurance market development and of the increase in demand not only for insurance brokers but also, for example, for risk management specialists in enterprises. The study programme was consulted with the Association of Polish Insurance and Reinsurance Brokers, as well as with representatives of insurance companies. Already today, our graduates and students work as assistants to brokers, as underwriters (insurance risk analysts) or in loss adjustment in insurance companies. After graduation, they can choose their own development path as far as specialisation and form of work is concerned (self-employment, work in a corporation), and having an exemption from the brokerage exam is an undoubted advantage, also in the financial context.

- The insurance broker exam is a big challenge, is it difficult to pass it? What knowledge should a person taking it have?

- The insurance broker exam is a difficult test of the knowledge necessary to work as an insurance broker. It consists of 100 questions, of which at least 75 must be answered correctly in order to obtain a positive result. The last insurance broker exam (March 29, 2022) was passed by 46% of those who took it, while in previous years, the results were between 20% and 25%. The questions concern, among other things, legal and economic aspects of insurance, the principles of business in the insurance market, detailed knowledge of insurance products, trends in the insurance market, etc.

- The privilege of being exempted from the exam certainly brings many benefits, including a faster start to your professional career. What else?

- Certainly. After completing an internship or probationary period at a brokerage company, one usually starts working as an analyst. Having such a clearance and meeting a few other standard requirements - in the financial and legal professions - (e.g. having a full legal capacity to perform acts in law, having no criminal record), one may independently perform brokerage activities, which is usually accompanied by a promotion to the position of broker - assistant. Depending on the solutions in a given company, one progresses through the levels of a broker, specialist broker and expert broker. If at the same time, this person has the required experience in the insurance market, he or she can also set up their own brokerage activity. The demand for persons qualified to act as brokers is high and the conditions of employment attractive. Our students undertake paid traineeships at brokerage or insurance companies already during their studies. Some of them continue to work after graduation in the same place where they did their internships - in the Tri-City, Warsaw and Toruń.

- And the financial aspect? What formalities and costs does a person taking the insurance broker exam have to reckon with, and thus how much can those who are exempted from it save?

- In order to take the exam, you must apply via the website of the Polish Financial Supervision Authority and pay an examination fee of PLN 600. However, it is often necessary to take the exam more than once in order to achieve a positive result.

- Please tell us what conditions must be met in order to count on an exemption from this examination?

- The Commission grants an exemption from the brokerage examination to a person who has completed studies that are recognised by the Commission as being consistent with the scope of the brokerage examination, has passed a written examination and no more than 3 years have passed since the completion of the studies. Each person concerned applies individually to the Commission. It can be said that our graduates are paving the way in terms of procedure as well.

- Is the Insurance - interdisciplinary studies programme conducted at the University of Gdańsk only as a part-time programme? How many years do the studies last, are the classes taught by practitioners and do you cooperate with local brokers?

- Insurance - interdisciplinary studies is a new master's course conducted by the Faculty of Management and the Faculty of Law and Administration of UG. The studies last two years (four semesters) and are conducted as full-time and part-time studies. According to our graduates, the biggest advantages of the studies are a truly interdisciplinary programme, classes conducted by lecturers with passion for insurance (including practitioners) and the possibility of paid internships already during the studies. Each edition of the studies brings together people who graduated from very different fields of study - from technical studies to mathematics, computer science, economics, management, administration, law, and sociology, to the University of Physical Education. Working together during classes, they share their perspective on a given issue, they teach each other, which is also an added value. It should be noted that studying insurance is chamber-like - we recruit only one group (30 people).

During the classes, the knowledge and experience of people from the market are used. We cooperate with leading insurance brokers and insurance companies, including those from the Tricity, inviting their representatives to conduct classes as a whole or in cooperation with UG lecturers. Students also have the opportunity to participate in numerous events organised for them outside classes or speak at scientific conferences. The participants of the first edition of the studies set up, on their own initiative, the Academic Club of Insurance Law, as part of which they carry out projects for market participants.

- Thank you for the interview.